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Did a closing disclosure replace a HUD-1?

The Closing Disclosure combines and replaces the HUD-1 Settlement Statement and the final Truth-in-Lending (TIL) statement. The form mirrors the information provided on the Loan Estimate.

What is the HUD-1 called now?

The Closing Disclosure (CD - formerly the HUD-1 Uniform Settlement Statement) is a three-page, government-mandated form that details the costs associated with a real estate transaction.

Is the CD the same as the HUD?

The Closing Disclosure (CD - formerly the HUD-1 Uniform Settlement Statement) is a three-page, government-mandated form that details the costs associated with a real estate transaction. The borrower should receive a copy of the CD at least one day prior to the closing.

Is HUD-1 still used?

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.

Which type of loan will use a HUD-1 in place of a closing disclosure quizlet?

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.

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