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.

HUD Property Guiding

  • 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.

Posted on March 29, 2013, in Title. Bookmark the permalink. 2 Comments.

  1. @Jen Robinson:
    Great question! Of course there are different senarios for each transaction, so lets answer some minor questions and then get specific for your transaction.

    If there is a mortgage loan involved for a purchaser, the fees would be greater. Line 1101 would include the closing fee ($300-500), title insurance for simultaneous issue ($25-300), title endorsements ($25-300). Of course these fees can change based on the sales price, so a call to the title company requesting a quote would be beneficial.

    Now lets answer your specific questions – The fees on line 1101 can be higher due to an REO purchase. Usually the bank will NOT pay any fees at all. Therefore leaving buyer to pay the tab. If title insurance is not offered and seller wants a QCD, well very rarely will this happen. At least I have not seen this in the last 5-6 years of these transactions.

    You mention purchasing this at auction? Usually at the court house, there is NO title company or fees involved, only if there is an actual contract between bank and buyer.

    I would love to be able to discuss your situation with you. Please contact me when you are able. 239-415-6574.

    Thank you for your question!

  2. Jen Robinson

    What is a reasonable cost for HUD-1 1101? Will this be higher for a REO? Should it be lower if no title insurance is offered, it’s a cash deal, and the seller is willing only to offer a QCD? (I purchased a condo at auction without doing homework carefully. I was shocked that the fees on line 1101 came to $1150, with buyer paying the full sum).

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