Settlement Statement: A mortgage loan closing form required by HUD that is often called a HUD-1. It provides details of all charges and payments made in connection with your loan, and shows to whom they are distributed.

 

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Settlement Statement: A mortgage loan closing form required by HUD that is often called a HUD-1. It provides details of all charges and payments made in connection with your loan, and shows to whom they are distributed.

Hud-1 Settlement Statement: At closing, in conformance with Real Estate Settlement Procedures Act (RESPA) regulations, a HUD-1 settlement statement is prepared showing the exact closing costs to buyer and seller.

Settlement: The time when loan and mortgage documents are formally signed and the loan transaction is completed. Sometimes called 'Closing.'

Seller Financing Disclosure Statement: There are specific additional duties imposed upon the licensee who negotiates a sale of real property when the seller receives a portion of the sales price in the form of a promissory note s . . . View Full Definition

Same-Day Funds Settlement (SDFS): A method of settlement used in trading between well-collateralized parties in good-the-same-day federal funds used by the Depository Trust Company for transactions in U.S. government securit . . . View Full Definition

Settlement Risk: The risk that one party will deliver and the counterparty will not be able to pay and vice versa.

Settlement Agent: The person who organizes and is in charge of the loan closing. The settlement agent is the person who can explain any document the borrower must sign.

Settlement Date: The settlement date is the date by which a securities transaction must be finalized. By that date the buyer must pay for the securities purchased in the transaction, and the seller must deli . . . View Full Definition

Settlement Price: A figure determined by the closing range that is used to calculate gains and losses in futures market accounts. Settlement prices are used to determine gains, losses, margin calls, and invoi . . . View Full Definition

Settlement Options: The various possibilities open to a beneficiary under a life insurance policy as to how the benefit will be paid out.