Definition - What does Hud1 Statement mean?
Hud1 statement also known as a Hud1 settlement statement is a statement used to list the charges and fees paid by the borrower and usually charged by the lender while purchasing a piece of real estate or refinancing it.
Justipedia explains Hud1 Statement
HUD stands for Department of Housing and Urban Development. The borrower can go through and inspect the Hud1 statement one day before settlement. HUD1 form is usually filled by the agent known as the settlement agent.