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Prior to October 3rd, 2015, or if you Apply for a Reverse Mortgage today, borrowers receive a HUD-1 Settlement Statement rather than a Closing Disclosure (CD). The HUD-1 Settlement Statement is not used for Mortgage today with the exception of Reverse Mortgages. For Regular mortgages, a Closing Disclosure (CD) is now used.
The HUD-1 Settlement Statement lists all charges and credits to the buyer and to the seller in a Real Estate Settlement, or all the charges in a Mortgage Refinance.
Click to View Sample HUD-1 Settlement Statement or other HUD forms
About the Author: Ahsan Bashir is an experienced Tax Consultant based in Irving, Texas, with over 25 years of expertise spanning Taxation, Accounting, Business Lending and Mortgage, Risk Management, Business Insurance, and Business Consulting. Through his firm, Z-Tax & Accounting, he provides comprehensive financial services including Individual and Business Tax Preparation, Bookkeeping, Payroll Processing, and Business Consulting. As an Enrolled Agent authorized to practice before the Internal Revenue Service (IRS), and an IRS Certifying Acceptance Agent (CAA), Ahsan Bashir delivers trusted, professional solutions tailored to the unique needs of both individuals and businesses.
NMLS: 1965714, NPN: 7702637, PTIN: P01280330, TX Online SOS Notary ID: 126282896
Related Topics: What Counts as Business Day Uniform Residential Loan Application The Closing Disclsoure (CD) Reverse Mortgages
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