You can use the excel upload that you had done for me and just add a sheet for the HUD-1. The HUD upload below has all the info for you just have to transfer it to an excel sheet. And follow the directions below. Hope this isn’t to confusing for you! I also uploaded a screenshot of how he did his on excel.Basically, about 90% of the difficult parts have been done for you in PDF form and the Part L with deleted row version of Excel. We are using the J and K part PDF only for an example. Do not type on it., Type on the student revised Excel HUD-1 upload below and make it a complete HUD-1.The goal is to transfer it into an Excel Workbook and make sure you enter the subtotals and totals correctly. Instead of starting from scratch and trying to draft a closing statement free hand, you are learning by typing one and by proofreading and verifying totals. This is simple, but does track what you would do in a law office. I actually went to a current law office and talked to one of the lawyers to “talk real estate” and make sure that this will advance you as if you were learning on the job and it does.You will have to avoid being distracted by the row numbers in the Excel, such as row 36, and use the actual line numbers from the official HUD -1 form, such as line 200. The officialHud-1 does not use letters for columns, so I refer to columns B and C that are in Excel.On the first page of your Excel, 301 C, which is C60 on part J, it should be the same as line C120, not C200 as I showed in the box. C200 is a blank cell. Don’t use it. Use the one right above it is C120.Ken Sell assisted in coming up with the formula to transfer a total from the second sheet L to the first sheet J or K.This helps you take something from this course that will work in practical legal work, and expands your skills. So what you did before for me use that and then make sure to add another sheet. Which would be named You need to make sure you did not change the name of the second sheet. I named it L of Hud-1 and the exact typing matters. If you changed it, change it back, please.To make C 103 of part J the same as B 1400 on L, do this.Make sure you used the correct formula so B 1400 uses the Excel row numbers and not the official Hud numbers. So =sum(B6:B59) will give you the sum of all numbers in column B. Type that formula into B60. This cell is officially the borrower total of costs on line 1400 in Hud part L.Then, go to C103 and type this formula, using single quotes where shown and an exclamation mark where shown. Note that official form C103 is C25 in Excel. Go to C25 and type the following formula. Type this, starting with the equal sign:=’L of Hud-1′!B60 The formula tells Excel which sheet to go to, which we have called L of Hud-1 and it uses single quotes for it. Then, the exclamation point tells Excel to duplicate the next cell reference, which is B 60. (We are just duplicating a number from one cell to another, not doing a sum. That is why we did not type sum.)I made an error in using line 1102, Cell labeling it as homeowner’s insurance instead of Settlement or Closing fee, but the math does not change. Use $500. You do not need to correct the label for class purposes, but I am letting you know so you can get it right as a “take away” form.
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hud.pdf
20160827171150hud_assignment.xlsx
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A. Settlement Statement (HUD – 1)
B. Type of Loan
5. Type of loan x conv. Ins.
6. File number
7. Loan number
8. Mortgage insurance case number
C. Note. This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown. Items marked (p.o.c.) were paid outside the closing: they are shown here for
informational purposes and are not included in the totals.
D. Name and Address of Borrower
E. Name and Address of Seller:
F. Name and Address of Lender:
G. Property Location
H. Settlement Agent
Settlement Date:
Place of Settlement
J. Summary of Borrower’s Transaction
100. Gross amount due from Borrower
101 Contract Sales Price
102 Personal Property
103 Settlement charges to borrower
104
105
Adjustment for items paid by seller in advance
106 City/ Town taxes
107 County Taxes
108
109
110
111
112
120 Gross Amount due from Borrower
200 Amount paid by or in Behalf of Borrower
201 earnest plus down payment deposits
202 amount financed
203
204
205
206
207
208
209
Adjustment for items unpaid by seller
210 City/ Town taxes
211 County Taxes
212
213
214
215
216
217
218
219
220 Total paid by/for borrower
300 cash at settlement to/from borrower
301 Gross amount due from borrower
302 amounts paid by/for borrower
303. Cash
from x
to borrower
K. Summary of Seller’s Transaction
$100,000.00
$0.00
$4,396.70
$0.00
$11,000.00
$89,000.00
$0.00
$2,000.00
$102,000.00
$102,000.00
400 Gross Amount Due to Seller.
401 Contract sales price
402 Personal Property
$100,000.00
$0.00
403
404
405
Adjustment for items paid by seller in advance
406 City/Town taxes
$0.00
407 County taxes
$0.00
408 Assessments
$0.00
409
410
411
412
420 Gross Amount due to Seller
$100,000.00
500 Reductions in Amount due to seller
501
502 Settlement Charges to seller (line 1400) $330.00
503
504
505
506
507
508
509
Adjustment for items unpaid by seller
510 City/Town taxes
$0.00
511 County taxes
$2,000.00
512 Assessments
513
514
515
516
517
518
519
520 Total Reduction Amount due seller
$2,330.00
600 Cash at Settlement to/from seller
601 Gross Amount due to Seller (line 420)$100,000.00
602 Less reduction in amounts due seller (line
$2,330.00
520)
603 Cash x to seller
$97,670.00
L. Settlement Charges
700 Real Estate Broker fees
division of commission
701. $ ___ to _______
702 ____ to _____
703 Commission paid at settlement
704
800. Items paid in connection with the loan
801 Our Origination charge
802
803
804 Appraisal
1102 Homeowner’s Insurance
1103 Mortgage Insurance
1104 Lender’s Title Insurance
1202 Recording fees Co. Recorder Deed and mortgage,
borrower pays both
1203
1204
1205 State Mortgage and Deed Stamps (from MN) borrower
pays mortgage ones
1300 Additional settlement charges
1400 Total Settlement Charges (enter on lines 103 and 502)
Paid from
borrower’s funds at Paid from seller’s
funds at settlement
settlement
$0,00
$0,00
$500,00
$100,00
$1.000,00
$350,00
$500,00
$3.000,00
$150,00
$92,00
$204,70
$2.000,00
$330,00
$2.000,00
$204,70
$330,00
Total of Column B
$2.660,00
…
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