HUD-1 form

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HUD-1 Form

In the sale of real estate, a form itemizing the closing costs that the buyer and the seller are each responsible for paying. The costs for the buyer ought to be close to the good faith estimate.

HUD-1 form

See closing statement.

References in periodicals archive ?
There are serious liabilities for using the old HUD-1 forms or completing the new forms incorrectly," says Sherman, "so this is something that definitely requires one's attention.
This guide is designed to assist mortgage lending and compliance staff with properly completing the new Good Faith Estimate and HUD-1 forms, required by the new RESPA disclosure rules.
The new GFE and HUD-1 forms require data remapping to accommodate new fields, because some existing field numbers have changed.
The RESPA changes completely overhaul the Good Faith Estimate and HUD-1 forms.
Bob has made the firm's catalog of proprietary forms available online and has overseen the development of software packages that guide users through the step by step process of completing everything from divorce documents, to HUD-1 forms, to bankruptcy filings, to the formation of legal entities such as limited liability corporations.
It was just over two years ago that HUD last overhauled the GFE and HUD-1 forms and introduced the burden of "tolerance violations" on lenders who did not provide accurate GFEs in a timely manner.
Findings from the study were based on a statistical analysis of data from more than 2,200 HUD-1 forms, supplied by RESPRO(R) members in nine states that reported the cost of settlement services to consumers in actual residential property transactions in 2003 and 2005.
agreed with MBA, and cited the need to keep both GFE and HUD-1 forms as simple as possible.
Nearly two years ago, ALTA played a key role in ensuring a smooth transition to new GFE and HUD-1 forms that are required by the U.
Smith says one of HUD's primary aims in reforming RESPA is to have YSPs ("and other so-called back-end payments") from the lender to the broker identified and disclosed on the good-faith estimate (GFE) and HUD-1 forms as a "lender credit to the borrower.
The 1st quarter report also includes an exploratory study of data gleaned from a small sample of HUD-1 forms from FHA files.
New compliant GFE and HUD-1 forms prepared for deployment for loan originators