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 Arizona, 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. This change is due to the implementation of the TILA-RESPA Integrated Disclosure (TRID) rules by the Consumer Financial Protection Bureau (CFPB). The Closing Disclosure provides similar information but is designed to be easier for consumers to understand and use when comparing loan offers. The HUD-1 or HUD-1A forms are still used for reverse mortgages or for certain cash transactions without a seller, such as a refinance loan. It's important to note that while federal regulations govern the use of these forms, the actual real estate closing process can vary slightly based on Arizona state laws and local practices.