Settlement Statement Optional Form For Transactions Without Sellers {HUD-1A}

Settlement Statement Optional Form for Transactions without Sellers Name & Address of Borrower: U.S. Department of Housing and Urban Development OMB Approval No. 2502-0265 (expires 11/30/2006) Name & Address of Lender: Property Location: (if different from above) Settlement Agent: Place of Settlement: Loan Number: Settlement Date: L. 800. 801. 802. 803. 804. 805 806. 807. 808. 809. 810. 811. 900. 901. 902. Settlement Charges Items Payable In Connection with Loan Loan origination fee % to Loan discount % to Appraisal fee to Credit report to Inspection fee to Mortgage insurance application fee to Mortgage broker fee to M. 1501. 1502. 1503. 1504. 1505. 1506. Disbursement to Others Items Required by Lender to be Paid in Advance Interest from to @$ per day Mortgage insurance premium for months to year(s) to 1507. 1508. 903. Hazard insurance premium for 1509. 904. 1000.Reserves Deposited with Lender 1001.Hazard insurance months @ $ 1002.Mortgage insurance months @ $ 1003.City property taxes months @ $ 1004.County property taxes months @ $ 1005.Annual assessments months @ $ 1006. months @ $ 1007. months @ $ 1008. months @ $ 1100.Title Charges 1101.Settlement or closing fee to 1102.Abstract or title search to 1103.Title examination to 1104.Title Insurance binder to 1105.Document preparation to 1106.Notary fees to 1107.Attorney's fees to (includes above item numbers 1108.Title insurance to (includes above item numbers 1109.Lender's coverage $ 1110.Owner's coverage $ 1111. 1112. 1113. 1200.Government Recording and Transfer Charges 1201.Recording fees: 1202.City/county tax/stamps: 1203.State tax/stamps: 1204. 1205. 1300.Additional Settlement Charges 1301.Survey to 1302.Pest inspection to 1303.Architectural/engineering services to 1304.Building permit to 1305. 1306. 1307. 1400.Total Settlement Charges (enter on line 1602) Borrower(s) Signature(s): 1510. per per per per per per per per month month month month month month month month 1511. 1512. 1513. 1514. 1515. 1520. TOTAL DISBURSED (enter on line 1603) ) ) N. NET SETTLEMENT $ $ $ 1600.Loan Amount 1601.Plus Cash/Check from Borrower 1602. Minus Total Settlement Charges (line 1400) 1603. Minus Total Disbursements to Others (line 1520) $ 1604.Equals Disbursements to Borrower (after expiration of any applicable rescission period required by law) $ X form HUD-1A (2/94) ref. RESPA American LegalNet, Inc. www.FormsWorkflow.com Public reporting burden for this collection of information is estimated to average 0.35 hours per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. This agency may not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number. Instructions for completing form HUD-1A Note: This form is issued under authority of the Real Estate Settlement Procedures Act (RESPA), 12 U.S.C. 2601 et seq. The regulation for RESPA is Regulation X, codified as 24 CFR 3500, and administered by the Department of Housing and Urban Development (HUD). Regulation Z referred to in the next paragraph is the regulation implementing the Truth in Lending Act (TILA), 15 U.S.C. 1601 et seq. and codified as 12 CFR part 226. HUD-1A is an optional form that may be used for refinancing and subordinate lien federally related mortgage loans, as well as for any other one-party transaction that does not involve the transfer of title to residential real property. The HUD-1 form may also be used for such transactions, by utilizing the borrower's side of the HUD1 and following the relevant parts of the instructions set forth in Appendix A of Regulation X. The use of either the HUD-1 or HUD-1A is not mandatory for open-end lines of credit (homeequity plans), as long as the provisions of Regulation Z are followed. Background 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. The instructions for completion of the HUD-1A are for the benefit of the settlement agent who prepares the statement; the instructions are not a part of the statement and need not be transmitted to the borrower. There is no objection to using the HUD-1A in transactions in which it is not required, and its use in open-end lines of credit transactions (home-equity plans) is encouraged. It may not be used as a substitute for a HUD-1 in any transaction in which there is a transfer of title and a first lien is taken as security. Refer to the "definitions" section of Regulation X for specific definitions of terms used in these instructions. General Instructions Information and amounts may be filled in by typewriter, hand printing, computer printing, or any other method producing clear and legible results. Additional pages may be attached to the HUD1A for the inclusion of customary recitals and information used locally for settlements or if there are insufficient lines on the HUD1A. The settlement agent shall complete the HUD-1A to itemize all charges imposed upon the borrower by the lender, whether to be paid at settlement or outside of settlement, and any other charges that the borrower will pay for at settlement. In the case of "no cost" or "no point" loans, these charges include any payments the lender will make to affiliated or independent settlement service providers relating to this settlement. These charges shall be included on the HUD-1A, but marked "P.O.C." for "paid outside of closing," and shall not be used in computing totals. Such charges also include indirect payments or back-funded payments to mortgage brokers that arise from the settlement transaction. When used, "P.O.C." should be placed in the appropriate lines next to the identified item, not in the columns themselves. Blank lines are provided in Section L for any additional settlement charges. Blank lines are also provided in Section M for recipients of all or portions of the loan proceeds. The names of the recipients of the settlement charges in Section L and the names of the recipients of the loan proceeds in Section M should be set forth on the blank lines. Line item instructions The identification information at the top of the HUD-1A should be completed as follows: The borrower's name and address is entered in the space provided. If the property securing the loan is different from the borrower's address, the address or other location info