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HUD-1A Names and Addresses
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Fields in view General Information Creating a HUD-1A Enter/Edit information Borrowers Lenders Calculations Saving information Deleting information Printing Disbursement Report Modules |
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General Information
The HUD-1A is a detailed form outlining all costs incurred and fees paid by borrowers in the settlement process. Any unfamiliar field names may be looked up in the corresponding module explanation or in the glossary of terms included in this help file.
*Important note: In RxClose, a number of fields are shared in the HUD and HUD-1A files. Where a shared field is altered in one file, a subsequent update will take place in the other. Therefore, realize that any changes you make to the HUD-1A, with the exception of lines M1501-1520 and line M1601, will also be changed in the HUD file.
(TOP) ModulesCreating a new HUD form
- From the Views menu select the HUD-1A.
- Enter a file number in the file number field and TAB out of the field.
- Fill out the appropriate fields by entering text, utilizing the calculation boxes or clicking the Borrower or Lender buttons.
- Save the new HUD-1A file by clicking the Save button located at the top of the form view.
Deleting information on the HUD-1A
*Important note: In RxClose, a number of fields are shared in the HUD and HUD-1A files. Where a shared field is altered in one file, a subsequent update will take place in the other. Therefore, realize that any changes you make to the HUD-1A, with the exception of lines M1501-1520 and line M1601, will also be changed in the HUD file.
- Follow the procedures for clearing or editing information.
- Save the changes by clicking the Save button located at the top of the form view.
Saving information on the HUD-1A
- Click the Save button located at the top of the main view.
Remember, changes made to the HUD or HUD-1A will affect the other form and that saving will always overwrite existing information.
(TOP) ModulesEntering/Editing information on the HUD
- Enter the file number of the HUD if you have not done so already.
- Proceed through the form by entering party information, text descriptions, calculation boxes and dollar values where necessary.
- Pressing TAB at the end of a page will send you to the next tab. To move to the next section, click the Next Page button at the top of the screen.
- Click the Save button to save the form.
- Place the cursor in the field you want to edit.
- Highlight the existing information and hit the delete key on the keyboard. Enter the new description or amount.
- TAB through the field and the remaining line items to ensure all updates are completed (* to clear out an entire section of the HUD, click the Clear All button located at the top of the form view).
- To save information at any time to the HUD, click the Save button located at the top of the form view.
Calculation Line J202: Principal Amount on New Loan(s)
This calculation provides a useful way of showing borrowers what their monthly payment schedule will look like. Although the information calculated here is not displayed on the HUD printout, it will be saved within the HUD file. Only the principal amount of the loan will be displayed in the Main views and on the completed HUD form.
| Field Name | Field Length | Field Description |
|---|---|---|
| Principal amount | 12.2(Numeric) | Principal amount of loan |
| Loan funding check | 12.2 Numeric | Amount of check |
| Annual interest rate | 2.2 percent | Percent of interest charged on principal balance |
| Number of payments | 8 | Number of regular payments to be made over the life of the loan |
| Date of first payment | mm/dd/yyyy | Date field |
| Date of final payment | mm/dd/yyyy | Date field |
| Principal/interest payment | 12.2 | Numeric |
| Final payment | 12.2 Numeric | Total amount of last regular payment |
(TOP)
Names and Addresses Fields
| Field | Size | Description |
|---|---|---|
| File Number | 20(any value) | file number of the HUD |
| Property Location (1) | 40 Any Value | Address or Other Description |
| Property Location (2) | 40 Any Value | Address or Other Description |
| Property Location (3) | 40 Any Value | Address or Other Description |
| Property Location (4) | 40 Any Value | Address or Other Description |
| Settlement Agent | 50 Any Value | Settlement Agent |
| Place of Settlement | 40 Any Value | Address or Other Description |
| Place of Settlement | 40 Any Value | Address or Other Description |
| Place of Settlement | 40 Any Value | Address or Other Description |
| Place of Settlement | 40 Any Value | Address or Other Description |
| Settlement | mm/dd/yyyy | Settlement Date |
| Loan Number | 40 Any value | Loan Number |
| Loan Amount | 12.2 numeric | Loan Amount |
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