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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 South Carolina, 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, in accordance with the TILA-RESPA Integrated Disclosure (TRID) rules implemented by the Consumer Financial Protection Bureau (CFPB). The Closing Disclosure provides similar information but in a more consumer-friendly format. The HUD-1 or HUD-1A forms are still used for reverse mortgages or for certain types of mortgage applications submitted on or before October 3, 2015. It's important for parties involved in real estate transactions in South Carolina to be aware of which document applies to their situation and to review these documents carefully at closing.

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Real property

HUD-1 statement

Individual & Family Legal Plan

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Real property

HUD-1 statement

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