Preliminary and Final HUD-1 Preparation
Our HUD Preparation comprises gathering and compiling lender, third party, borrower, and settlement agent fees and completing HUD-1 statements. A HUD settlement statement is prepared in accordance with the lender's closing instructions.
The HUD-1 Settlement Statement is a standard form which is used to itemize services and fees charged to the borrower by the lender or broker. We will verify and confirm the escrow deposits for taxes, proration of taxes, payoff amounts, commissions, loan fees, recording fees, hazard insurance, mortgage insurance, etc. We also mail the Preliminary HUD to specific lenders and sellers as per your needs.
We also have experience in preparing Final HUDs. We receive a request just before the closing, where we do a complete review of the HUD and confirm all the fees and expenses. Post confirmation, it will be sent to the closing table.
Our turn time varies from 2 hours to overnight. Turn times will be less than indicated in case of Final HUD preparation.