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2010 HUD.ofm - Info-Pro Forms

2010 HUD.ofm - Info-Pro Forms-2025

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The document is a HUD-1 Settlement Statement form used to detail actual settlement costs in real estate transactions. It includes sections for borrower and seller information, loan types, transaction summaries, settlement charges, and comparisons with the Good Faith Estimate (GFE). The form outlines amounts due from borrowers and sellers, various fees associated with the transaction, and legal disclaimers regarding the accuracy of the information provided.

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What is the difference between HUD 9886 and 9887?

form HUD-9834 (06/2016) Ref. HUD Handbook 4350.1, REV-1. and HUD Handbook 4566.2. PURPOSE: To assess management and oversight of multifamily housing projects.

Are HUD-1 forms still used?

HUD Forms 9887/9887A are used for HUDs Multifamily Housing Programs (e.g. Section 8 PBRA, PRAC, 236, etc.). HUD Form 9886 is used for HUDs Public Indian Housing Programs (HCV, PBV, Public Housing, Native American Programs, etc.).

Are HUD-1 statements still used?

HUD-1s are still in use, but in specific situations only. HUD-1s are used in conjunction with reverse mortgages, line of credit loans, residential properties being purchased with commercial loans, and by lenders who do a certain number of loans a year.

What type of loan still uses a HUD-1?

A HUD-1 form is most commonly used for reverse mortgages and mortgage refinance transactions. Now, for most kinds of mortgage loans, borrowers receive a form called the Closing Disclosure instead of a HUD-1 form.

What is the new name for the HUD-1 form?

There is a buzz in the air in the real estate community, and it surrounds the new Closing Disclosure. The Closing Disclosure, or CD, replaced the HUD-1 beginning Oct. 3, 2015.

What form replaced HUD-1?

The HUD-1 and final TIL will be replaced by the Closing Disclosure (CD) which must be verified as delivered to the consumer (borrower) three days before loan documents can be signed. Seller will receive a separate Seller CD. Tolerances have been narrowed and are now called good faith variations.

2010 HUD.ofm - Info-Pro Forms-2025

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