HUD Introduces New HUD-1 for Reverse Mortgages

November 30, 2010

HUD introduced a revised HUD-1 Settlement Statement that imposes penalties for false certifications or fraudulent activities and new language for sellers of a HECM for purchase transaction. The new certification language must be used for all HECM case numbers assigned on or after Dec. 1, 2010. Read on to learn how this impacts settlement agents.

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Contact ALTA at 202-296-3671 or communications@alta.org.

North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents. SoftPro is the nation's leading provider of closing and title software, consistently pushing the technological envelope to pioneer the most powerful and comprehensive closing and title automation software on the market. SoftPro's Award-Winning Software combines cutting-edge technology with outstanding support to make your business more productive, efficient and boost your revenue.