The specific definitions of the terms used in these instructions can be found in the „Definitions“ section (No. 1024.2) of 12 CFR Part 1024 (Regulation X). The 807 line is used to register each flutz certification fee. Lines 301 and 302 are collection positions for the borrower. Enter the sum in line 120 on line 301. Enter the sum in line 220 on line 302. Section L. Billing fees. This section of HUD-1A is similar to section L of HUD-1, with minor changes or omissions, including the removal of lines 700 to 704, which relate to brokerage commissions. Instructions for section L of HUD-1 should be followed as much as possible. Non-applicable fees should be ignored, as should the seller`s items instructions. . For „no cost“ loans, for which „no cost“ relates only to the lender`s fees, the amounts listed on lines 801 and 802 should be offset, so that the tax on line 803 is zero.
If „no cost“ includes third-party settlement benefits, the credit on line 802 will be more than offset by the amount shown on line 801. The amount shown on line 803 is a negative figure to offset the compensation fees paid indirectly through the lender. Additional numbered lines from the 1100 series can be used to break down the title fees paid to third parties, as indicated by the name and nature of the service provided. . The settlement agent closes THE HUD-1 to pay all fees imposed on the borrower and seller by the lender, as well as all sales commissions, whether payable at the time of billing or outside of billing, as well as any other fees that the borrower or seller will pay when billing. Royalties for original services and credit titles should only be broken down in these instructions. For each settlement benefit identified separately as part of the transaction, the name of the person who ultimately receives the payment must be indicated with the total amount paid to that person. Items paid and withheld from a lender are disclosed in accordance with the instructions for the HUD-1 800 series lines (and for interest per diem, in the HUD-1 900 series). The 904 lines and the additional numbered lines are used to list the additional items required by the lender (excluding reserves collected by the lender and recorded in the 1000 series), including flood premiums or other insurance. These lines are also used to list the amounts paid when counting insurance that is not required by the lender. The HUD-1A line 1400 applies to the total balancing fees charged to the borrower.
Enter this amount on line 1601. This amount should include the amounts of the additional pages in section L if they are attached to HUD-1A. Line 1102 is used to cover clearing or closing costs. Section Mr. Payment to others. This section is used to list the beneficiaries, along with the non-heritage, of the entire proceeds of the loan (including the lender when the loan is a previous loan of the same loan) when the beneficiary is paid directly into the proceeds of the compensation. It is not used to list the payers of compensatory commissions, nor to list funds that are paid directly to the borrower, even if the lender is aware of the borrower`s intended use of the funds. Below are the instructions to complete the HUD-1 counting statement required by Section 4 of the RESPA and 12 CFR, Part 1024 (Regulation X) of the Consumer Financial Protection Regulations Office (Office).