Settlement Agent on HUD-1

Posted By: Peridot

Settlement Agent on HUD-1 - 01/09/04 05:42 PM

Can a seller be listed as the settlement agent on the HUD-1?

Posted By: Rocky P

Re: Settlement Agent on HUD-1 - 01/09/04 05:50 PM

IMO, that would probably depend on state law, if the person is licensed, qualified and bonded to be a settlement agent. Because of potential conflicts of interest accusations, I'm sure that many would not want multiple roles.

Posted By: Rob K

Re: Settlement Agent on HUD-1 - 01/09/04 09:23 PM

I think the only situation in which the seller might be listed as settlement agent would be when a lender sells OREO (other real estate owned) property and closes the transaction in-house.