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INDEX TO TITLE 24
(Appears in all volumes. References are to part and section)
Sec. 8-HUD-insured projects and HUD-held mort-
886, Subpart A
886, Subpart B
1, Appx. A.
Employment Opportunities-HUD Assisted Projects .. 135.70
200, Subpart M
880.204; 880.209; 880.218
881.204; 881.209; 881.218
800.205; 800.208; 800.217
801.205; 801.208; 801.217
883.104; 883.202; 883.205;
883.313; 883.315; 883.316; 883.702
880.102; 880.104; 880.113;
tre zle s tem se hic ad
nens Fil de 3 metade taxes 1675 z 24 ziz ar tre x HP XI wie den he settlement 16 z soz us II De the rear or *2 1 Z2 134 1 = x 220 iz ces 2 ses paid AsT3 e.
dittura se scude od 36 hasard Tu romums se bore is being SIISKI & emra nder the same
POICE Drau msum is 1028 assump 15:12 s2l z saa mia IE 10- so a paret mt semesopeens e con zo SF DIE Seng at summum Sac mess paid in Fai 1 mon 1235 . BUIR 1 supples on hand, wurtzins +15031. AR ME - put ty zie. Bach the buyer
I IE v Ize te El x wie sve us possession of the 2 1 2 r zle - TIF 2 Fount = paid in advance.
1 Dir zumT MINE Í e 13 ses sense = shich the ZEEL TE TOT E SIC
sung I og tile subject to * * * je othe property.
Lane 11M9 m be used in cases in u ise semene Ie mai ve e le as the : trade-in or Tane ze sie an
e resize bave in part paysms 2 ga 3 tzn = tout ** mer x se ricery sen soid They may
25 ** = sich a seller (typiSerie A te ante I STEDET. za due s Borance to
e bure se zpes « cases which the -NEIL 2 razrze sr may not baze te pune show. Such an TA Sante at LU SA Love song siso be entered on lines 2. sançez ze maang sams 4 Epi- Les 10 tiroz 219 are for items which
care se rex bees pead and which the Seroes D 38 ZEE 28 e bure s empessed to pay, but which are at
as a res ni s sodes of besabe a part to a period of time prior De nove 20 ide seer zere 3 to De Sesseat in jurisdictions in which 2002 ar se bate o e. tbe rase taxes are paid lase in the cas year, most 200 stress of ace is set
ses rd soos the proration of taxes in Seco G. The se sices of the se these lines Other examples include utilities 0 procery. 500- be gren l' ibere is used but not paid for by the seller, rent colmot stree, sorsa a tret al description lected in advance by the seller from a & aber lestun of the property should be senant for a period extending beyond the Esers in a ses gre the zip code of the settlement date, and interest on loan asproperty.
sumptions. Section Pil in rame, address, and zip Line 303 may indicate either the cash recode of settlement agent; address and zip quired from the bortover at settlement (the code of “place of settlement."
usual case in a purchase transaction) or Section J. Summary of Borromer's Trans- cash payable to the borrower at settlement action. The borrower may be given a copy of (if, for example, the buyer's earnest money the form which does not contain the infor. deposit exceeded his cash obligations in the mation filled in under “Summary of Seller's transaction). The appropriate box should be Transaction" (Section K, Series 400, 500, checked. and 600 items).
Section K. Summary of Seller's TransacLines 104 and 105 are for additional tion. The seller may be given a copy of the amounts owed by the buyer. For example, form which does not contain the informathe balance in the seller's reserve account tion filled in under “Summary of Borrower's held by the Lender, if assigned to the buyer Transaction" (Section J, Series 100, 200, and in a loan assumption case, will be entered 300 items). here. These lines will also be used when a Instructions for the use of lines 106-112, tenant in the property being sold has not above, apply also to lines 406 to 412. yet paid his rent, which the buyer will col- Line 501. If the seller's real estate broker lect, for a period of time prior to the settle- has received and holds an earnest money dement. The seller will be credited on lines posit which exceeds the commission owed to 404-405.
him, and if he will tender the excess deposit Lines 106 through 112 are for items which directly to the seller, rather than through the seller had paid in advance, and for the settlement agent, the amount of excess which the buyer must therefore reimburse deposit should be entered on line 501.
Line 503 is used if the purchaser is assuming or taking title subject to existing liens which are to be deducted from sales price.
Line 506 through 509 may be used to list additional liens which must be paid off through the settlement to clear title to the property. They may also be used to indicate funds to be held by the settlement agent for the payment of water, fuel, or other utility bills which cannot be prorated between the parties at settlement because the amounts used by the seller prior to settlement are not yet known.
Instructions for the use of lines 510 through 519 are the same as those for lines 210 to 219 above.
Section L. Settlement Charges. For all items except those paid to and retained by the Lender, the name of the person or firm receiving the payment should be shown. The column which relates to the borrower's transaction may be deleted from the copy of the form which will be furnished to the seller and the column which relates to the seller's transaction may be deleted from the copy of the form which will be furnished to the borrower.
Line 700. If the sales commission paid by the seller is based on a percentage of the purchase price, enter the purchase price, the percentage, and the dollar amount of the total commission paid by the seller.
Lines 701-702 are to be used to state the split of the commission where the person conducting the settlement disburses portions of the commission to two or more agents.
Line 703. If the broker is retaining a part of the earnest money deposit to apply towards his commission, include in lines 703 only that part of the commission being disbursed at settlement.
Line 704 may be used for additional charges made by the sales agent, or for a sales commission charged to the buyer, which will be disbursed by the settlement agent.
Line 801. Enter the fee charged by the Lender for processing or originating the loan. If this fee is computed as a percentage of the loan amount, enter the percentage in the blank indicated.
Line 802. Enter the loan discount charged by the lender, and, if it is computed as a percentage of the loan amount, enter the percentage in the blank indicated.
Line 803. Enter appraisal fees, if there is a charge separate from the origination fee. The VA or FHA appraisal fee is included on line 806.
Line 805 is used only for inspections by the lender or his personnel. Charges for other pest or structural inspections, required by Regulation X to be stated, should be entered in lines 1301-1305.
Line 806 should be used for a VA appraisal fee, FHA application fee (which covers the cost of appraisal for the agency as well), or a fee required by a private mortgage insurance company.
Line 807 is provided for convenience in using the form for loan assumption transactions.
Line 901. If interest collected at settlement for a part of a month or other period between settlement and the date from which interest will be collected with the first regular monthly payment, enter that amount here. If such interest is not collected until the first regular monthly payment, no entry should be made on line 901.
Lines 1000-1008. This series is used for amounts collected by the Lender from the borrower and held in an account for the future payment of the obligations listed as they fall due. In many jurisdictions this is referred to as an "escrow," "impound," or “trust" account. In addition to the items listed, some Lenders may require reserves for flood insurance, condominium owners association assessments, etc.
Lines 1100-1113. In many jurisdictions the same person (for example, an attorney or a title insurance company) performs several of the services listed in this series and makes a single undifferentiated charge for such services. In such cases, enter the overall fee on line 1107 (for attorneys), or line 1108 (for title companies), and enter on that line the item numbers of the services listed which are covered in the overall fee. If this is done, no amounts should be entered for the individual items which are covered by the overall fee.
Line 1101. Enter here the fee of the person or firm conducting the settlement. In some jurisdictions this is termed a closing or escrow fee. If two or more persons or firms make charges in connection with the same transaction, enter total charges in the appropriate columns, and indicate the breakdown of charges on the line after the word “to."
Lines 1102 and 1103. In some jurisdictions the same person (for example, an attorney) both searches the title (that is, performs the necessary research in the records) and examines title (that is, makes a determination as to what matters affect title, and provides a title report or opinion). If such a person charges only one fee for both services, it should be entered on line 1103. If separate persons perform these tasks, or if separate charges are made for searching and examination, they should be listed separately.
Line 1105. Enter charges for preparation of deeds, mortgages, notes, etc. If more than one person receives a fee for such work in the same transaction, show the total paid in