HUD-1 form

(redirected from HUD-1 Forms)

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 ?
Again, we can look to the introduction of the GFE and HUD-1 forms as an example.
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 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.
The new GFE and HUD-1 forms require data remapping to accommodate new fields, because some existing field numbers have changed.
agreed with MBA, and cited the need to keep both GFE and HUD-1 forms as simple as possible.
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.