The HUD-1 settlement statement form, used for years as the key summary document in residential real estate closings, went award for new residential loan applications made Oct. 3. In an effort to provide better protection for consumers, it is being replaced by a form called the closing disclosure.

For Realtors, mortgage providers, title agents and others who have grown so familiar with the HUD-1 after millions of closings over the years, the change raises one quick, obvious question.