The Department of Housing and Urban Development (“HUD”) has published its final rule amending Regulation X (Federal Register, November 17, 2008 issue, Pages 68204 – 68288). The final rule has two effective dates. Certain sections of the final rule are effective January 16, 2009, and other sections of the final rule are effective January 1, 2010. This memorandum will address those sections of the final rule that are effective January 16, 2009. A subsequent memorandum will address those sections of the final rule that become effective January 1, 2010. Text of Final Rule: The text of the final rule can be printed by clicking on: 1. HTML Format: http://edocket.access.gpo.gov/2008/E8-27070.htm. 2. PDF Format: http://edocket.access.gpo.gov/2008/pdf/E8-27070.pdf. Effective Dates for Final Rule: (1) The definition of “Required use” in Section 3500.2, Sections 3500.8(b) [Use of HUD-1/HUD-1A – Charges to be stated], 3500.17 [Escrow Accounts], 3500.21 [Mortgage Servicing Transfers], 3500.22 [Severability], 3500.23 [ESIGN applicability], and Appendices E [Escrow Account Analysis Examples] and MS-1 [Servicing Disclosure Statement] are effective January 16, 2009. (2) The definitions other than “Required use” in Section 3500.2, Sections 3500.7 [GFE], 3500.8(a) and(c) [Use of HUD-1/HUD-1A – By settlement agent; Violations], 3500.9 [Reproduction of settlement statements], Appendix A [Instructions for Completing HUD-1/HUD-1A; Standardized HUD-1/HUD-1A Forms], Appendix C [Instructions for Completing GFE; Standardized GFE Form], and Section 203.27 [Single Family Mortgage Insurance – Charges, fees or discounts] are effective January 1, 2010.