HUD-1 form

(redirected from HUD-1 Settlement Statements)

HUD-1 Form

In the sale of real estate, a form itemizing the closing costs that the buyer and the seller are each responsible for paying. The costs for the buyer ought to be close to the good faith estimate.

HUD-1 form

See closing statement.

References in periodicals archive ?
RESPA also is the regulation that requires Good Faith Estimates (GFEs) and HUD-1 Settlement Statements be provided, so if you're giving a GFE and HUD-1 to the borrower, you can assume the loan is covered.
The Notice further alleges that Respondent falsified internal loan documents to hide from the Bank the fact that he was charging customers broker fees that exceeded the Bank's broker fee cap and gave customers misleading HUD-1 Settlement Statements that masked the broker fees charged.
It was a breach of fiduciary duty, conflict of interest, unsafe and unsound practice, and violation of law, for Respondent to divert portions of customer loan proceeds on 13 home equity loans without the customers' knowledge, consent, or approval; falsify internal loan documents in order to hide from the Bank the fact that he was charging customers broker fees that exceeded the Bank's broker fee cap; and give customers misleading HUD-1 Settlement Statements that masked the broker fees charged.
Consumers benefit from working with ENTITLE DIRECT's specially trained Closing Specialists, who order title searches, obtain title commitments, coordinate closings with all parties, obtain payoffs, prepare ENTITLE DIRECT HUD-1 Settlement Statements, schedule closings, and ensure the funding of loans.
Other violations included failure to adopt and maintain a quality-control plan; failure to report employee compensation on W-2 forms; charging unallowable excessive or duplicative loan processing/origination fees; and failure to ensure fees paid outside of closing were listed on HUD-1 Settlement Statements.
Under the agreement, Dynatek will provide marketing, technical and research support for Odyssey's mortgage processing software products including DOS-based SmartFiL(sm) and its HUD-1(sm) software that automates HUD-1 settlement statements.