Real Estate Terms Glossary
What is a HUD-1 Settlement Statement?
We can define the HUD-1 statement, also known as the HUD-1 form, as a settlement form that itemizes and reconciles all the charges that the buyer and seller pay in purchasing real estate. These charges include a loan origination fee and discount points.
This statement was originally developed by the HUD in order to give each party a full list of all their incoming as well as outgoing funds. A HUD-1 settlement statement is most commonly used for reverse mortgage transactions.
Examples of items covered by HUD-1 Settlement Statement
- Example 1: Accrued interest
- Example 2: Payment for a credit report
Here’s Investopedia’s definition of a HUD-1 Settlement Statement .
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Deanna M.
I have had the opportunity to experience the legal industry in a private setting and public sector, representing individuals, companies of all sizes, as well as the Government. As a strong leader, I take pride in continuously tackling new challenges and learning as much as possible, always finding answers and delivering results to my clients. I received my JD from Ave Maria School of Law in Naples, Florida and went on to pass the Uniform Bar Exam. I am currently licensed in Minnesota and North Carolina. I have experience in real estate law, estate planning, contract law, family law, criminal law, and more.
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Stephen is a graduate of Nova Southeastern University - Shepard Broad College of Law, Stephen is licensed to practice in New Jersey and New York. He focuses on Morris, Passaic, and Bergen County, New Jersey, but services all of New Jersey. Before graduating, Stephen did an externship in Denver, Colorado with a focus on land use and development. Upon returning to New Jersey, he focused on Condominium and Home Owner Association. He also worked with Residential Real Estate Transactions and Estate Planning clients.
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Peter R.
Admitted in NC in 1994. Law degrees from English and US law schools. Civil and criminal litigation experience as well as in house corporate attorney. Recipient of the highest civilian honors from 14 states, the Ellis Island Medal of Honor, a papally blessed knighthood and listed in NLJ as a recipient of on of their Pro Bono Attorney of the Year Award winners and the NLJ top 40 trial lawyers in the USA under 40 years old.
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Megan K.
Hello! I have been working in commercial real estate for about 20 years. My experience is mainly in-house with real estate developers. I enjoy doing commercial real estate transactional work, including leasing, acquisitions and dispositions. I can also lead due diligence efforts for a potential purchase of a real estate asset and review and resolve title issues.
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I'm a Chicago native and Kansas City transplant that has made regulatory compliance and civil administrative litigation for heavily regulated industries my niche for the past decade.
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Joseph B.
I am an attorney licensed in Indiana. I currently work primarily on civil litigation, landlord/tenant matters, and adoption cases. I have over 10 years of labor relations experience, including negotiations, labor contract enforcement, and arbitration experience. I also work with several non-profit groups representing LGBTQ+ groups and indigent clients in housing matters.
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