The “Instructions for Completing HUD – 1 and HUD – 1A Settlement Statements,” found on the HUD website (http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/ramh/res/resappa), states that:
“The HUD – 1A settlement statement is to be used as a statement of actual charges and adjustments to be given to the borrower at settlement, as defined in this part…
Line 1400 in the HUD – 1A is for the total settlement charges charged to the borrower. Enter this total on line 1602 as well. This total should include Section L amounts from additional pages, if any are attached to this HUD – 1A. ”
Based on a careful reading of the foregoing portion of the Instructions, the HUD-1A Settlement Statement, Cx14223, is being updated to show the total settlement charges in both line 1400 and line 1602 to better comply with the regulatory instructions regarding completion of the form.
This change will take effect on November 1, 2013. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.
October 25, 2013