Definitions for "Settlement statement"
Also referred to as the HUD-1 or the closing statement, this is the document that provides line by line detail of the financial details related to a specific real estate transaction such as the fees paid by the seller and the buyer for a purchase transaction or the fees paid by the borrower for refinances.
Standard form prepared by closing agent used to disclose actual closing costs at time of settlement. All charges imposed in the transaction, including lender fees, third party fees, escrows and prepaid items must be itemized. Also referred to as the HUD-1.
A document often referred to as the HUD-1, which shows all the buyers and sellers involved in the transaction, the purchase and sales cost.
A document issued to the merchant, indicating the sales and credit activity, billing information, discount fee and chargebacks (if any) occurring during a particular time frame (one week, one month).