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Information and amounts may be
filled in by typewriter, hand printing, computer printing, or any
other method producing clear and legible results. Refer to Regulation
X regarding rules applicable to reproduction of the HUD - 1. An
additional page(s) may be attached to the HUD - 1 for the purpose of
including customary recitals and information used locally in
settlements, for example, a 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 Borrower and Seller, and the date funds
are transferred.
The settlement agent shall
complete the HUD - 1 to itemize all charges imposed upon the Borrower
and the Seller by the Lender and all sales commissions, whether to be
paid at settlement or outside of settlement, and any other charges
which either the Borrower or the Seller will pay for at settlement.
Charges to be paid outside of settlement, including cases where a
non-settlement agent (i.e., attorneys, title companies, escrow agents,
real estate agents or brokers) holds the Borrower's deposit against
the sales price (earnest money) and applies the entire deposit towards
the charge for the settlement service it is rendering, shall be
included on the HUD - 1 but marked ``P.O.C.'' for ``Paid Outside of
Closing'' (settlement) and shall not be included in computing totals.
P.O.C. items should not be placed in the Borrower or Seller columns,
but rather on the appropriate line next to the columns.
Blank lines are provided in
Section L for any additional settlement charges. Blank lines are also
provided for additional insertions in Sections J and K. The names of
the recipients of the settlement charges in Section L and the names of
the recipients of adjustments described in Section J or K should be
included on the blank lines.
Lines and columns in Section J
which relate to the Borrower's transaction may be left blank on the
copy of the HUD - 1 which will be furnished to the Seller. Lines and
columns in Section K which relate to the Seller's transaction may be
left blank on the copy of the HUD - 1 which will be furnished to the
Borrower.
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