Shopping For Your Home Loan: Hud'S Settlement Cost Booklet - U.s. Department Of Housing And Urban Development (Hud) Page 25
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481000 Series, Reserves Deposited with Lender
This series of the HUD-1 lists the amounts collected by the lender to be placed
in your escrow account for future payments of items such as homeowner’s insurance,
mortgage insurance and property taxes. Line 1007 is an adjustment to make sure
lenders are only collecting the maximum amount allowed by law. In this example,
even though the first year’s homeowner’s insurance premium has already been paid,
the lender has started escrowing money to pay the next bill.
1100 Series, Title Charges
Line 1101 lists the charge for all title services and the lender’s title insurance
policy. Title services includes any service involved with providing title insurance, such
as title examination, preparing the title commitment, clearing the title to the property,
preparing and issuing the title policies and conducting the settlement. These charges
correspond to GFE Block 4.
Line 1102 is the amount of the settlement or closing fee if performed by a
company different from the one providing title insurance. This charge is part of the
charge listed in Line 1101.
Line 1103 lists the charge for the Owner’s title insurance policy, if you decided
to buy one. It corresponds to Block 5 of the GFE.
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