What does that mean on my Settlement statement (HUD-1) ?
1100 Series – Title charges – explained
- Line 1101 will be where the total of our escrow fee, lender’s title insurance, endorsements, title
binder, courier, notary, wire fees, e-Recording fees, and any other title/escrow fees (not including recording fees) will be totaled. Most of the fees will no longer be separately itemized. Line 1102 will have, for the customer’s information, what our escrow fee is. That total is in the gray box just for disclosure, it’s already included in the total on line 1101.
- Line 1103 will be a charge to the buyer for the owner’s title policy. If the seller is purchasing the
owner’s policy on behalf of the new buyer, you will see a debit/credit on the first page of
the HUD-1 to offset the owner’s policy charge.
- Line 1104 is for informational purposes only, to disclose the cost for the lender’s policy
that’s already included in the total on line 1101.
- Lines 1105 & 1106 are the Lender’s and Owner’s title policy amounts, respectively.
- Lines 1107 & 1108 disclose the amounts of the title insurance premium that is retained within
the agency and what is being sent to the underwriter.
- Lines 1101 & 1103 are disclosed to buyers on the Good Faith Estimate and those GFE locations
are labeled in this section.
Got a question? Call us at Title Junction and let us help you!
Title Junction is a full service real estate title company serving the area of Fort Myers, Cape Coral and the entire state of Florida since 2005. The company handles a number of real estate title services for both commercial and residential properties. Employees of Title Junction can also act as a witness in courtesy closings as well as an escrow agent or a notary public. Please contact Title Junction, LLC for further information @ 239-415-6574 or www.title-junction.com.