New HUD-1 Available

Gregory Luce — Wed, 30 Dec 2009 17:56:43 +0000

Over the holiday, we quietly added the new and substantially revised HUD-1 Settlement Statement to mndocs, the MSBA’s document and form automation system. The new HUD-1, which has been in the making for some time, is required for most residential loan closings on or after January 1, 2010. Specifically, it is required for all closings on loans for 1-4 family residences where the loan origination process takes place on or after the first of the year.

In automating the form for mndocs, we intentionally simplified our approach this time. Our prior automated HUD-1, which still remains available in mndocs, uses an extensive interview process. We ditched that approach based on user feedback. Rather than walking you through an interview process, we collect some initial basic information (e.g., seller and buyer information, loan information and terms), then turn you over to the form itself, where you enter financial and other settlement information directly on the HUD-1.(...)
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Times, They Are a Changin’

Nancy Hupp — Wed, 14 Oct 2009 19:42:27 +0000

Ever see the New Yorker cartoon where a young dog explains to an older dog, “We do all those old tricks electronically now”? True. Case in point, effective July 1, 2009, the Minnesota Department of Health (MDH) started accepting electronically filed Well Disclosure Certificates. And speaking of doing things differently, the HUD-1 is also changing this coming year.

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Practice Blawg » HUD-1

New HUD-1 Available

Times, They Are a Changin’