ࡱ> OQNxM bjbj== 0WWljjjj"""8#*#HJ$$$$%(((IIIIIII$L 2NI( (|("((IF,jj$%JF,F,F,(j$j8$IF,(IF, F,P3A|jCC$$ }"h)NGBCCJ0HJYBN*NCCF,jjjj Special Attention of: ADVANCE \D 3.60All Homeownership Center Directors All REO Division Directors All Real Estate Owned Branch Chiefs All Management and Marketing Contractors All HUD Contract Closing AgentsNotice H 2001-13 (HUD) Issued: 11/20/01 ADVANCE \D 3.60Expires: 11/30/02  Cross References:  Subject: Allowable Closing Costs Paid by HUD Single Family Property Disposition HUD will automatically pay certain closing costs at settlement. Other closing costs may be paid by HUD in accordance with the terms of the form HUD-9548, Sales Contract. In an effort to ensure that purchasers, real estate brokers and/or sales agents, HUDs management and marketing contractors, and HUDs contracted closing agents are provided with consistent information, the following list distinguishes closing costs that are automatically paid by HUD and those which may be paid if amounts are indicated on Lines 5 and/or 6a of the Sales Contract. Closing costs automatically paid by HUD Brokers Sales Commission Amount stated on Line 6B of For Broad Listing Broker: the Sales Contract Proration of property taxes Paid by HUD automatically and any special assessments such as HOA fees, utility bills Settlement or Closing Fee: HUD will pay HUD's closing agent; if another agent is used, this is the purchasers cost Transfer Charges and For the deed only, paid by HUD Recording Fees automatically  HSIP Distribution: W31, W2(OGC)(H)(Z), W3(A)(H)(ZAOO), W4(H), R1, R2, R3, R31(H)(RC), R32, R33, R6, R61, R62, R7, R71, R72, R8, R81 Closing costs which may be paid by HUD Broker's Sales Commission Only paid if indicated on For Selling Broker Line 6A of the Sales Contract Additional Allowable Closing Costs to be paid if sufficient funds are indicated on Line 5 of the Sales Contract. Purchasers may specify a dollar amount on Line 5 of the form HUD-9548, Sales Contract, that they expect the Department to pay towards their financing and closing costs. HUD will not pay more than the actual cost of an item, and will not pay a total amount greater than that requested in Line 5. As HUD will only pay the actual closing costs, not to exceed the amount requested on Line 5 of the form HUD-9548, Sales Contract, any monies remaining after the allowable closing costs have been paid will not be credited to the purchaser(s) at sales closing. Effective immediately, the following list represents the complete list of additional allowable closing costs that may be paid by the Department at sales closing: Appraisal Fee: If there are sufficient funds on Line 5, HUD will pay for the Appraisal on an FHA 203(k) loan that is necessary to determine the after rehab value HUD will pay for appraisals that expired prior to Sales Contract execution if there are sufficient funds on Line 5 Credit report: Up to $20 will be paid if there are sufficient funds on Line 5 Flood Certification: If the property is being offered with FHA insurance, is on a Flood Plain, and there are sufficient funds on Line 5, HUD will pay for Flood Certification Home Inspection: If there are sufficient funds on Line 5, Inspection fee of up to $250 will be paid Homeowners Warranty: The following table represents the amounts that will be paid, provided there are funds available from Line 5 StateMaximum Cost StateMaximum Cost Paid by HUDPaid by HUDAlabama$375Montana$350Alaska$400Nebraska$415Arizona$300Nevada$300Arkansas$385New Hampshire$350California$300New Jersey$425Colorado$350New Mexico$325Connecticut$650New YorkNot Paid by HUDDelaware$300North Carolina$225District of Columbia$350North Dakota$360Florida$325Ohio$250Georgia$399Oklahoma$399Hawaii$300Oregon$350Idaho$400Pennsylvania$385Illinois$400Puerto Rico$325Indiana$400Rhode Island$225Iowa$350South Carolina$225Kansas$385South Dakota$400Kentucky$400Tennessee$400Louisiana$399Texas$325Maine$375Utah$250Maryland$200Vermont$300Massachusetts$600Virginia$360Michigan$250West Virginia$255Minnesota$400Washington$350Mississippi$445Wisconsin$345Missouri$385Wyoming$350 Loan Discount Points: If there are sufficient funds on Line 5, up to 3 percent to buy down the rate, with certification from lender Loan Origination Fee: If there are sufficient funds on Line 5, up to 1 percent will be paid on Conventional/FHA loans; up to 1.5 percent will be paid on FHA 203(k) loans Recording fees and If sufficient funds are on Transfer Charges for Line 5, fees will be paid; Mortgage: otherwise, these are the purchasers costs. In situations where the purchaser is prohibited from paying all or any part of such fees, such fees should not be paid by either HUD or the purchaser since HUD is exempt from paying it and the purchaser is prohibited. Survey: If required by Lender and sufficient funds on Line 5 Title Insurance If sufficient funds are on Coverage for Lender: Line 5, coverage will be paid Title Insurance If sufficient funds are on Coverage for Owner: Line 5, coverage will be paid The above represents the complete listing of allowable closing costs in conjunction with the sale of properties owned by the Department. If you have any questions, please contact Wanda Sampedro of the Asset Management and Disposition Division at (202) 708-1672. _________________________________ John C. 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RuckiMichael E. RuckiDJMichael E. Rucki Ad:DH Normal.DotMichael E. RuckiJ2HMicrosoft Word for Windows 95T@@@E{*@\Q*՜.+,0HP\dl t| ATS, Oh+'0 $ @ L X dpxssWanda L. Sampedrodandand Housing.dotBrenda B. Smoot2enMicrosoft Word 9.0@F#@|@Zi}@Zi}121TableyNSummaryInformation(DocumentSummaryInformation8(CompObjj՜.+,0 px  HUD~& X2  Title  FMicrosoft Word Document MSWordDocWord.Document.89q' iP@P Normal1$5$7$8$9DH$CJOJQJ_HmH sH tH <A@< Default Paragraph Font,+@, Endnote Text6*@6 Endnote ReferenceH*.. Footnote Text8&@!8 Footnote ReferenceH*FF TOC 1) $ 0*$]^`0BB TOC 2% $ 0*$]^`0BB TOC 3% $ p0*$]^p`0BB TOC 4% $ @ 0*$]^@ `0BB TOC 5% $ 0*$]^`0:: TOC 6 $0*$^`022 TOC 70*$^`0:: TOC 8 $0*$^`0:: TOC 9 $ 0*$^`0F F Index 1% $ `*$]^``F F Index 2% $ 0*$]^`06.6 TOA Heading  $*$""" Caption2O2 _Equation Caption,@, Header ! !, ", Footer " !*B@2* Body Text#CJFT@BF Block Text$d]^CJaJXC@RX Body Text Indent% 0h*$^h`5CJNR@bN Body Text Indent 2&d^CJaJ Lg&(<=?@An#QR;<r:;bc>?@o p   C c / 0 a 0 1 f ! 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