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Okay, here's a link to a HUD-1 closing statement

Unfortunately, the HUD-1 has gone the way of the dinosaur. Now consumers get a Closing Disclosure Statement, which is infinitely harder to read.

Take a look for yourself. https://files.consumerfinance.gov/f/201311_cfpb_kbyo_closing...

My biggest beef with this form is page 3. The lender gets this version of page 3. The consumer gets a different version where page 3 is mostly blank lines for details of items, such as a loan payoff or other payments from the loan proceeds. It is an abomination of a form.

I have 4 or 5 of these horrible forms on my desk at the moment for clients who have had real estate transactions in the last year. My time to deal with these transactions has more than doubled, and I have to be extremely careful (to the point of making my own excel spreadsheet) to be sure I capture all of the important information and that I can balance the transaction.

The only bright light is that many escrow companies in my area continue to produce a simple two column recap of the transaction which is perfect (IMHO better even than the old HUD-1) for accounting for the transaction. When I get one of those I breathe a sigh of relief.

--Peter
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