[Code of Federal Regulations]

[Title 24, Volume 5]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR3500.9]



[Page 275-276]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

 CHAPTER XX--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING 

        COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 3500_REAL ESTATE SETTLEMENT PROCEDURES ACT--Table of Contents

 

Sec.  3500.9  Reproduction of settlement statements.



    (a) Permissible changes--HUD-1. The following changes and insertions 

are permitted when the HUD-1 settlement statement is reproduced:

    (1) The person reproducing the HUD-1 may insert its business name 

and logotype in section A and may rearrange, but not delete, the other 

information that appears in section A.

    (2) The name, address, and other information regarding the lender 

and settlement agent may be printed in sections F and H, respectively.

    (3) Reproduction of the HUD-1 must conform to the terminology, 

sequence, and numbering of line items as presented in lines 100-1400. 

However, blank lines or items listed in lines 100-1400 that are not used 

locally or in connection with mortgages by the lender may be deleted, 

except for the following: Lines 100, 120, 200, 220, 300, 301, 302, 303, 

400, 420, 500, 520, 600, 601, 602, 603, 700, 800, 900, 1000, 1100, 1200, 

1300, and 1400. The form may be shortened correspondingly. The number of 

a deleted item shall not be used for a substitute or new item, but the 

number of a blank space on the HUD-1 may be used for a substitute or new 

item.

    (4) Charges not listed on the HUD-1, but that are customary locally 

or pursuant to the lender's practice, may be inserted in blank spaces. 

Where existing blank spaces on the HUD-1 are insufficient, additional 

lines and spaces may be added and numbered in sequence with spaces on 

the HUD-1.

    (5) The following variations in layout and format are within the 

discretion of persons reproducing the HUD-1 and do not require prior HUD 

approval: size of pages; tint or color of pages; size and style of type 

or print; vertical spacing between lines or provision for additional 

horizontal space on lines (for example, to provide sufficient space for 

recording time periods used in prorations); printing of the HUD-1 

contents on separate pages, on the front and back of a single page, or 

on one continuous page; use of multicopy tear-out sets; printing on 

rolls for computer purposes; reorganization of sections B through I, 

when necessary to accommodate computer printing; and manner of placement 

of the HUD number, but



[[Page 276]]



not the OMB approval number, neither of which may be deleted. The 

designation of the expiration date of the OMB number may be deleted. Any 

changes in the HUD number or OMB approval number may be announced by 

notice in the Federal Register, rather than by amendment of this part.

    (6) The borrower's information and the seller's information may be 

provided on separate pages.

    (7) Signature lines may be added.

    (8) The HUD-1 may be translated into languages other than English.

    (9) An additional page may be attached to the HUD-1 for the purpose 

of including customary recitals and information used locally in real 

estate settlements; for example, breakdown of payoff figures, a 

breakdown of the borrower's total monthly mortgage payments, check 

disbursements, a statement indicating receipt of funds, applicable 

special stipulations between buyer and seller, and the date funds are 

transferred. If space permits, such information may be added at the end 

of the HUD-1.

    (10) As required by HUD/FHA in FHA-insured loans.

    (11) As allowed by Sec.  3500.17, relating to an initial escrow 

account statement.

    (b) Permissible changes--HUD-1A. The changes and insertions on the 

HUD-1 permitted under paragraph (a) of this section are also permitted 

when the HUD-1A settlement statement is reproduced, except the changes 

described in paragraphs (a)(3) and (6) of this section.

    (c) Written approval. Any other deviation in the HUD-1 or HUD-1A 

forms is permissible only upon receipt of written approval of the 

Secretary. A request to the Secretary for approval shall be submitted in 

writing to the address indicated in Sec.  3500.3 and shall state the 

reasons why the applicant believes such deviation is needed. The 

prescribed form(s) must be used until approval is received.



(Approved by the Office of Management and Budget under control numbers 

2502-0265 and 2502-0491)