Can the Updated HUD Statement be signed electronically?

Yes. Electronic signatures are legally valid under the ESIGN Act (15 U.S.C. §7001) and UETA in most states, provided intent, consent, attribution, and reliable record retention are met. Check for state-specific notarization or witness exceptions before e-signing.

Who must sign the statement?

Signatories typically include buyer(s), seller(s), settlement agent, and preparer. Lenders may require a designated signatory or an authorized officer to acknowledge loan-related figures before funding.

What if totals do not match funds wired?

Do not disburse until reconciled. Resolve arithmetic, payoff, or payoff statement errors; obtain corrected wire instructions and verify with the lender to avoid misapplied funds or indemnity claims.

When is notarization or witnesses required?

Notarization and witness requirements depend on state and document type. Deeds typically require a notary acknowledgement; some states require witnesses for deeds or powers of attorney. Follow local recording office rules.

How do I correct an executed statement?

If an error is found after signing, prepare an amendment or corrected ledger, have parties initial or re-sign the correction, and document the reason; record corrected documents if substantive to the deed or mortgage.

How long should the statement be retained?

Retain settlement records per applicable law: IRS minimum 3 years (IRC §6501(a)), HIPAA six years if PHI present (45 CFR §164.530(j)), and industry or state requirements may extend retention periods.

Electronic Signature
Templates
Real estate
Updated HUD Statement

Updated HUD Statement

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

UPDATED HUD STATEMENT

Settlement Information

Settlement Date: Settlement Agent:

Settlement Location:

File Number: Loan Number:

Broker / Loan Officer:

Property Identification

Property Address Parcel / APN Number Legal Description

Parties

Buyer / Borrower

Seller

Transaction Summary

Purchase Price Earnest Money / Deposits Applied Mortgage / Loan Amount Closing Date / Possession Date

Itemized Settlement Charges

The amounts shown below represent final debits and credits at closing. Debit columns indicate amounts due; credit columns indicate funds to be applied.

Description Borrower (Debit/Credit) Seller (Debit/Credit)

Loan Origination Fee:

Points:

Appraisal Fee:

Credit Report:

Title Search / Examination:

Title Insurance (Owner's/ Lender's):

Recording Fees:

Transfer Taxes:

Homeowner's Insurance (first year):

Prorations (Taxes, HOA, Utilities) - Debit/Credit:

Other (specify):

Totals and Funds

Total Amount Due from Borrower (Funds to Close):

Total Amount Due to Seller (Net Proceeds):

Cash From / (To) Borrower at Closing (after credits and deposits):

Disclosures and Condition of Property

Lead-Based Paint Disclosure: Yes No

Known Mold or Water Damage: Yes No

Prior Structural Damage or Material Repairs: Yes No

Property Sold As-Is: Yes No

Certifications and Acknowledgments

This Updated HUD Statement is a final itemization of charges and credits resulting from the settlement described above. It supersedes any prior estimate or worksheet previously provided to the parties to the transaction. The settlement agent certifies that funds were disbursed and deposited in accord with the figures shown, subject to standard post-closing adjustments for clerical error. The amounts shown do not constitute legal advice and do not modify contractual obligations between Buyer and Seller except as expressly provided in the purchase contract.

The parties acknowledge receipt of a copy of this Updated HUD Statement at or before the time of closing, and acknowledge that they have reviewed the itemized entries. Any dispute regarding errors or omissions must be submitted in writing to the settlement agent within ten (10) business days following the date of closing.

Settlement Agent

Settlement Agent Name Settlement Agent Contact

Settlement Agent Certification: I hereby certify, under penalty of perjury, that the amounts set forth in this Updated HUD Statement are true and correct to the best of my knowledge and that the disbursements were made in accordance with applicable fiduciary duties and applicable law.

Buyer:

By:

Date:

Seller:

By:

Date:

What the Updated HUD Statement Is and where it fits in a closing

The Updated HUD Statement is a standardized settlement statement used in residential real estate closings to itemize charges, prorations, loan figures, seller disbursements, and funds required at settlement. It aggregates lender charges, title and escrow fees, taxes, and prorated utilities so buyers, sellers, lenders, and title agents can verify closing figures. Where consumer mortgage transactions fall under the TILA-RESPA Integrated Disclosure (TRID) rules (12 C.F.R. part 1026), the Closing Disclosure governs mortgage disclosures; the Updated HUD Statement is commonly used in non-TRID transactions, commercial closings, or as a complementary itemized settlement ledger.

Why accurate Updated HUD Statements matter for every party

A clear Updated HUD Statement reduces settlement disputes, confirms accurate funds transfer, and documents prorations and charges for tax and recordkeeping purposes. It creates a single reference for closing calculations and supports compliance with lender and local recording requirements.

Which professionals commonly prepare and rely on this statement

The Updated HUD Statement is prepared and reviewed by multiple parties involved in a real estate closing.

Title and escrow companies review, prepare, and reconcile disbursements prior to funding.
Lenders and mortgage servicers confirm loan charges, payoffs, and escrow deposits for funding.
Buyers, sellers, and their attorneys verify prorations, closing costs, and amounts due or payable.

Accurate, distributed statements reduce funding delays, support recording, and form the basis for post-closing tax reporting and audit trails.

Complete the Updated HUD Statement step by step

Follow this sequence to gather information, compute figures, and confirm totals before closing.

01

Gather documents: Collect contract, payoff, tax schedules, and closing instructions.
02

Enter line items: Itemize lender charges, title fees, recording, taxes, and prorations.
03

Reconcile totals: Verify buyer funds, seller net, and lender disbursement calculations.
04

Finalize and distribute: Provide copies to lender, buyer, seller, and recording agent.

Common digital workflow settings for Updated HUD Statement processing

Configure your settlement workflow to automate calculations, notifications, and required approvals for a predictable closing process.

Field \| Setting	Configuration
Auto-proration rule	Enabled \| prorate by day count
Tax schedule source	County tax table or seller payoff
Fee templates	Use title company standardized templates
E-sign integration	signNow or equivalent connector

How the statement is routed and who receives it

A consistent routing plan ensures all parties get the statement in time to review and fund.

Prepare: Settlement agent drafts and reconciles all line items.
Send to lender: Lender confirms payoff and disbursement instructions.
Share with buyers/sellers: Provide copies for final review prior to signing.
Record and distribute: Send recorded deed and final disbursement ledger post-closing.

Technical formats and authentication for electronic handling

Use PDF or DOCX files for settlements and choose eSignature providers that preserve audit trails and produce tamper-evident PDFs.

File Formats: PDF and Word DOCX are standard
Integrations: Connectors: title systems, LOS, and cloud storage
Authentication: Email, SMS PIN, or stronger 2FA

Ensure the chosen platform supports audit logs, certificate of completion, and lawful retention policies that meet ESIGN/UETA requirements and local recording or lender rules.

Essential sections every Updated HUD Statement should include

A complete statement separates buyer and seller columns, details loan and title charges, and includes prorations and signatures for a defensible closing record.

Buyer Charges

All costs the buyer pays at closing, such as loan origination, appraisal, prepaid interest, and escrow deposits; show payer column and reconcile with loan estimate or Closing Disclosure where applicable.

Seller Charges

Seller debits include payoff of existing liens, real estate commissions, and outstanding property taxes; itemize each debit to calculate seller net proceeds accurately.

Loan Details

List loan amount, interest rate, prepaid interest, points, and lender fees so lender and settlement agent can confirm funding figures and wire amounts.

Escrow and Taxes

Show escrow deposits, county transfer taxes, recording fees, and prorated property taxes; use local tax schedules to compute accurate prorations.

Prorations

Calculate daily prorations for taxes, utilities, HOA dues, and rents; include start/end dates and formula so adjustments can be audited after closing.

Signatures

Provide signature blocks for buyer, seller, settlement agent, and preparer with dates; indicate notarization or witness requirements as needed for the jurisdiction.

Security and compliance attributes for electronic versions

Encryption in transit: TLS 1.2 / 1.3

Encryption at rest: AES-256 encryption

Audit trail: Detailed signer event history

Regulatory standards: ESIGN, UETA compliance

Certifications: SOC 2 Type II; ISO 27001

HIPAA support: BAA available where required

Key risks and potential consequences of errors

Recording delays: Title defects and post-closing disputes

Tax reporting penalties: IRC §6721 penalties for incorrect returns

Funding shortfalls: Wires rejected or delayed

Title insurance issues: Coverage disputes on inconsistent documents

Consumer claims: Failure to disclose may trigger liability

Notarization noncompliance: Voidable acknowledgements in some states

Typical timing checkpoints to schedule around closing

Plan the settlement timeline so parties can review, sign, and fund without last-minute discrepancies or recording delays.

Settlement / Closing Date:

Date when funds are wired and documents are executed.

Funds due at closing:

Buyer must deliver certified funds or wire per instructions.

Recording window:

Record deed and mortgage within 1–5 business days, depending on county.

Information returns:

Form 1099-S to recipient by Jan 31, IRS by Feb 28 paper or Mar 31 electronic.

Post-closing distribution:

Title company issues final disbursement within agreed settlement timeframe.

Vendor pricing and capability snapshot for eSigning settlement statements

Compare basic pricing and core features relevant to Updated HUD Statement workflows; signNow is listed first for direct comparison.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day free trial	Varies by vendor	Varies by vendor	Varies by vendor	Varies by vendor
Bulk Send	Yes (Business Premium)	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No
Envelope Cap	No cap	100 envelopes/user/year	Varies	Varies	Varies

Frequently asked questions and common issues

Answers to typical questions encountered when preparing, signing, and archiving an Updated HUD Statement.

Need help? Contact support

Can the Updated HUD Statement be signed electronically?
Yes. Electronic signatures are legally valid under the ESIGN Act (15 U.S.C. §7001) and UETA in most states, provided intent, consent, attribution, and reliable record retention are met. Check for state-specific notarization or witness exceptions before e-signing.
Who must sign the statement?
Signatories typically include buyer(s), seller(s), settlement agent, and preparer. Lenders may require a designated signatory or an authorized officer to acknowledge loan-related figures before funding.
What if totals do not match funds wired?
Do not disburse until reconciled. Resolve arithmetic, payoff, or payoff statement errors; obtain corrected wire instructions and verify with the lender to avoid misapplied funds or indemnity claims.
When is notarization or witnesses required?
Notarization and witness requirements depend on state and document type. Deeds typically require a notary acknowledgement; some states require witnesses for deeds or powers of attorney. Follow local recording office rules.
How do I correct an executed statement?
If an error is found after signing, prepare an amendment or corrected ledger, have parties initial or re-sign the correction, and document the reason; record corrected documents if substantive to the deed or mortgage.
How long should the statement be retained?
Retain settlement records per applicable law: IRS minimum 3 years (IRC §6501(a)), HIPAA six years if PHI present (45 CFR §164.530(j)), and industry or state requirements may extend retention periods.

be ready to get more

Join over 28 million airSlate SignNow users

Sign Now