source:
  type: regulation
  id: reg-x-1024.8
  authority: 12 CFR §1024.8 — Use of HUD-1 or HUD-1A settlement statements (Regulation
    X)
  description: 12 CFR §1024.8 — Use of HUD-1 or HUD-1A settlement statements. Largely
    superseded by TILA-RESPA Integrated Disclosures (Reg Z §1026.38).
  coverage_tier: superseded
obligations:
- id: reg-x-1024.8-full
  canonical_id: reg-x-1024.8-full
  section: 12 CFR §1024.8 — Use of HUD-1 or HUD-1A settlement statements
  type: reference
  tags:
  - regulator-direct
  - respa
  - corpus-expansion
  - tier-superseded
  primary_source:
    tier: 1
    authority: 12 CFR §1024.8 — Use of HUD-1 or HUD-1A settlement statements
    source_class: cfpb-regulation
    source_url: https://www.law.cornell.edu/cfr/text/12/1024.8
    snapshot_id: 8e0b68dd25992643
    fetched_at: '2026-06-17T17:21:37Z'
    content_hash: sha256:c4e61d5cc284421e2419981d26cabc326a1483aed2c36ff6c1c5a412f3afc2ad
    paragraph_quote: '§ 1024.8 Use of HUD -1 or HUD -1A settlement statements. (a)
      Use by settlement agent. The settlement agent shall use the HUD -1 settlement
      statement in every settlement involving a federally related mortgage loan in
      which there is a borrower and a seller. For transactions in which there is a
      borrower and no seller, such as refinancing loans or subordinate lien loans,
      the HUD -1 may be utilized by using the borrower''s side of the HUD -1 statement.
      Alternatively, the form HUD -1A may be used for these transactions. The HUD
      -1 or HUD -1A may be modified as permitted under this part. Either the HUD -1
      or the HUD -1A, as appropriate, shall be used for every RESPA -covered transaction,
      unless its use is specifically exempted. The use of the HUD -1 or HUD -1A is
      exempted for open-end lines of credit (home-equity plans) covered by the Truth
      in Lending Act and Regulation Z . (b) Charges to be stated. The settlement agent
      shall complete the HUD -1 or HUD -1A, in accordance with the instructions set
      forth in appendix A to this part. The loan originator must transmit to the settlement
      agent all information necessary to complete the HUD -1 or HUD -1A. (1) In general.
      The settlement agent shall state the actual charges paid by the borrower and
      seller on the HUD -1, or by the borrower on the HUD -1A. The settlement agent
      must separately itemize each third party charge paid by the borrower and seller.
      All origination services performed by or on behalf of the loan originator must
      be included in the loan originator ''s own charge. Administrative and processing
      services related to title services must be included in the title underwriter''s
      or title agent''s own charge. The amount stated on the HUD -1 or HUD -1A for
      any itemized service cannot exceed the amount actually received by the settlement
      service provider for that itemized service, unless the charge is an average
      charge in accordance with paragraph (b)(2) of this section. (2) Use of average
      charge. (i) The average charge for a settlement service shall be no more than
      the average amount paid for a settlement service by one settlement service provider
      to another settlement service provider on behalf of borrowers and sellers for
      a particular class of transactions involving federally related mortgage loans.
      The total amounts paid by borrowers and sellers for a settlement service based
      on the use of an average charge may not exceed the total amounts paid to the
      providers of that service for the particular class of transactions. (ii) The
      settlement service provider shall define the particular class of transactions
      for purposes of calculating the average charge as all transactions involving
      federally related mortgage loans for: (A) A period of time as determined by
      the settlement service provider, but not less than 30 calendar days and not
      more than 6 months; (B) A geographic area as determined by the settlement service
      provider; and (C) A type of loan as determined by the settlement service provider.
      (iii) A settlement service provider may use an average charge in the same class
      of transactions for which the charge was calculated. If the settlement service
      provider uses the average charge for any transaction in the class, the settlement
      service provider must use the same average charge in every transaction within
      that class for which a GFE was provided. (iv) The use of an average charge is
      not permitted for any settlement service if the charge for the service is based
      on the loan amount or property value. For example, an average charge may not
      be used for transfer taxes, interest charges, reserves or escrow, or any type
      of insurance, including mortgage insurance, title insurance, or hazard insurance.
      (v) The settlement service provider must retain all documentation used to calculate
      the average charge for a particular class of transactions for at least 3 years
      after any settlement for which that average charge was used. (c) Violations
      of section 4 of RESPA ( 12 U.S.C. 2603 ). A violation of any of the requirements
      of this section will be deemed to be a violation of section 4 of RESPA . An
      inadvertent or technical error in completing the HUD -1 or HUD -1A shall not
      be deemed a violation of section 4 of RESPA if a revised HUD -1 or HUD -1A is
      provided in accordance with the requirements of this section within 30 calendar
      days after settlement . Truth in Lending Act'
  judgment: false
