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HUD-1 Settlement Statement – Wikipedia – The HUD-1 Settlement Statement was a standard form in use in the United States of America which was used to itemize services and fees charged to the borrower by the lender or broker when applying for a loan for the purpose of purchasing or refinancing real estate. HUD refers to the Department of Housing and Urban Development.. The borrower had the right to inspect the HUD-1 one day prior to.
PDF A. Settlement Statement U.S. Department of Housing B. Type of. – form HUD-1 (3/86) Page 1 of 2 ref Handbook 4305.2 U.S. Department of Housing and Urban development (expires 9/30/2006) A. settlement statement omb approval No. 2502-0265 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.
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Understanding the HUD-1 Settlement Statement – The Legal. – A settlement agent, or closing agent, will prepare a HUD-1 settlement statement at the closing of a real estate loan. The final version will explicitly state all costs involved with the real estate loan and to whom the individual charges and fees will be paid to.
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HUD-1 Settlement Statement – Wikipedia – The HUD-1 Settlement Statement is a standardized mortgage lending form in use in the United States of America on which creditors or their closing agents itemize all charges imposed on buyers and sellers in consumer credit mortgage transactions. The HUD-1 (or a similar variant called the HUD-1A) is used primarily for reverse mortgages and mortgage refinance transactions.
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The HUD-1 settlement statement also clearly outlines all of the borrower’s loan terms including details on principal, interest, variable rates, prepayment penalties and any special terms.