Mortgage Foreclosure & Refinance Resource

HUD-1 Statement is form used by the settlement agent (also called the closing agent) with an itemized listing of closing costs payable at the closing or settlement meeting when buying property.  It gives each party a complete list of their incoming and outgoing funds. The closing costs can include a commission, loan fees and points, and sums set aside for escrow payments, taxes and insurance. It is signed by both the buyer and the seller, who may be paying some of the closing costs.

Fees associated with the transaction but paid prior to closing are also included on the HUD. They are normally marked “POC” which stands for Paid Outside of Closing.