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Mortgage Glossary

Settlement Statement

Mike Starr·Reviewed August 2026

A settlement statement is a document that itemizes all financial transactions in a real estate closing, listing every fee, credit, and disbursement for both the buyer and seller. The Closing Disclosure serves this purpose for most residential purchases since 2015. For transactions not covered by TRID rules (such as reverse mortgages), the HUD-1 Settlement Statement is still used.