RESPA - line 1601 & 1602 on HUD-1A

Posted By: SouthoftheBorder

RESPA - line 1601 & 1602 on HUD-1A - 02/21/13 09:15 PM

We collected a recording fee outside of closing in cash. I think the fee should be on line 1601 minus the settlement fee of the same amount.

I have a HUD1a were the recording fee was listed as BPOC to the left of the column; therefore no settlement fees are listed in line item 1400. And there is no info on lines 1601 or 1602.

What is the proper way to reflect this fee paid outside of closing?
Posted By: rlcarey

Re: RESPA - line 1601 & 1602 on HUD-1A - 02/22/13 04:20 AM

Recording fees would be in the 1200 series regardless of when paid.
Posted By: SouthoftheBorder

Re: RESPA - line 1601 & 1602 on HUD-1A - 02/22/13 07:36 PM

Yes - they would be noted on that line. we have the amount to the left of the column.

I'M really asking if the dollar amounts in 1601 & 1602 can be left blank if the only settlement fee was the recording that was paid outside of closing.?
Posted By: rlcarey

Re: RESPA - line 1601 & 1602 on HUD-1A - 02/22/13 09:23 PM

It would not appear there, but it would appear in the comparison table.