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#1474693 - 12/01/10 08:45 PM HUD-1A
Dodge Offline
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Posts: 238
Does anyone use a HUD-1A?

If so, how do you show debits and credits?

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RESPA
#1474774 - 12/01/10 09:48 PM Re: HUD-1A Dodge
RR Joker Offline
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The Swamp
We use HUD 1A's but use the HUD1 when there are credits/debits involved. remember the 1A is an optional form...it's a convenience, but not a required document.
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My opinion only. Not legal advice.

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#1474794 - 12/01/10 10:05 PM Re: HUD-1A RR Joker
Always In Training Offline
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Where the Green Grass Grows
Not since 1/1/10. Sorry.

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#1474879 - 12/02/10 05:12 AM Re: HUD-1A Always In Training
jlroberts Offline
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Ohio
HUD only allows credits on the HUD1 so as of 1/1/10 we use the HUD1 for everything....

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#1476196 - 12/03/10 11:13 PM Re: HUD-1A jlroberts
Always In Training Offline
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Where the Green Grass Grows
I had a title company tell me that they "had to use it (HUD 1A)" in transactions without sellers. I told them - they would not close my loan if they didn't use the HUD1. They figured out a way to earn that 300 closing fee and do it the way I told them too.

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#1476290 - 12/06/10 01:57 PM Re: HUD-1A Always In Training
RR Joker Offline
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Posts: 20,654
The Swamp
laugh
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

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#1476644 - 12/06/10 09:18 PM Re: HUD-1A RR Joker
Couples Offline
Gold Star
Joined: Apr 2009
Posts: 280
The Igloo
HUD only allows credits on the HUD1 so as of 1/1/10 we use the HUD1 for everything....

Where is this mentioned? I am doing a quick read of the instructions and can't find this.

Thanks!

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#1476766 - 12/07/10 02:02 AM Re: HUD-1A Couples
jlroberts Offline
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jlroberts
Joined: Sep 2009
Posts: 1,574
Ohio
FAQ page 46

11) Q: The General Instructions indicate that if a charge has been shown on the GFE as payable by the borrower but at closing it is paid by another person, including by the loan originator in a loan other than a no-cost loan, the fee should be shown in the borrower‘s column on the HUD-1 and be offset by listing a credit to the borrower on lines 204-209 of the HUD-1. If a HUD-1A form is being used, lines 204-209 do not exist. How should the credit be shown on a HUD-1A form?
A: Use of the HUD-1A form is an optional form to be used by the settlement agent in a transaction in which there is not a seller and as otherwise appropriate. If the use of a HUD-1A form is not appropriate, such as if there is a credit given by a loan originator or other party, the settlement agent must use the HUD-1 form.

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