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Real property

HUD-1 statement

The HUD-1 Settlement Statement is a document that 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. If you applied for a mortgage on or before October 3, 2015, or if you are applying for a reverse mortgage, you receive a HUD-1. In transactions that do not include a seller—such as a refinance loan—the settlement agent may use the shortened HUD-1A form.

If you applied for a mortgage after October 3, 2015, for most types of mortgage loans you receive a form called the Closing Disclosure instead of a HUD-1.

In Oregon, as in all states, the HUD-1 Settlement Statement was traditionally used for real estate transactions to itemize all charges and credits to the buyer and seller. However, for most mortgage applications submitted after October 3, 2015, the Closing Disclosure form has replaced the HUD-1 form due to changes mandated by the Consumer Financial Protection Bureau (CFPB). The Closing Disclosure is part of the TILA-RESPA Integrated Disclosure (TRID) rules and provides details of the mortgage loan transaction. Exceptions to this change include reverse mortgages and certain other types of loans, for which the HUD-1 may still be used. In refinance transactions without a seller, the HUD-1A, a shorter version of the HUD-1, may be utilized. These regulations are federal and thus apply uniformly across all states, including Oregon.

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Real property

HUD-1 statement

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Real property

HUD-1 statement

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