Cx14222 and cx14223, the HUD-1 and HUD-1 A forms, have been modified for HELOCs. As the forms are not required for HELOCs, the modifications are permissible under federal regulations. To accommodate HELOCs, the “Loan Terms” section has been removed. The last line of the forms have been modified to read: “Note: If you have any questions about the Settlement Charges listed on this form, please contact your lender.” The footer of the forms have also been modified to include the words “Modified for HELOC” after “HUD-1” (or “HUD-1 A,” as applicable). These changes will only appear if the documents are printed for a HELOC. The HUD-1 and HUD-1A will remain model forms for other loan types.
These changes will take effect on March 1, 2014. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
February 24, 2014