Posted by Susan Doherty on 10/15/07 6:43pm
Msg #216599

settlement statement

Does anyone know if this is legal? On the HUD settlement statement (at the top # H) were it states settlement agent and place of settlement. Is it legal for the notaries name and address to be listed?

Reply by Sylvia_FL on 10/15/07 7:08pm
Msg #216602

I have had that happen and I have called the title company and have them send me a HUD without my name and address on it.

Reply by Stoli on 10/15/07 7:09pm
Msg #216604

Sylvia - What do you say to Rachel's post below? n/m

Reply by Sylvia_FL on 10/15/07 7:52pm
Msg #216607

Re: Sylvia - What do you say to Rachel's post below?

I say she could only notarize the name on his ID

She should be paid for the re-sign.

Reply by JK/TX on 10/15/07 8:10pm
Msg #216609

In my experience, it should be the company handling the settlement, disbursing the funds and signing the closing statement/settlement statement. As a notary, I would not allow my name to be listed as the settlement agent.

See below from HUD's website:

Settlement practices vary from locality to locality, and even within the same county or city. Settlements may be conducted by lenders, title insurance companies, escrow companies, real estate brokers or attorneys for the buyer or seller. You may save money by shopping for the settlement agent.

In some parts of the country (particularly western states), settlement may be conducted by an escrow agent. The parties sign an escrow agreement which requires them to provide certain documents and funds to the agent. Unlike other types of settlement, the parties do not meet around a table to sign documents. Ask how your settlement will be handled.