Can the closing agent charge the borrower for preparing a copy of the HUD-1?

The closing agent cannot charge the borrower for preparing a copy of the HUD-1 settlement statement. This is because the HUD-1 is a crucial document that outlines all the details of the transaction, including the costs and fees involved. According to federal regulations, the closing agent is responsible for providing this document at no additional cost to the borrower.

This provision ensures transparency in the mortgage transaction and allows borrowers to understand the financial terms of their loan. The expectation is that the HUD-1 will be made available to the borrower as part of the closing process without imposing extra fees for its preparation or provision. This policy helps safeguard the interests of consumers in financial transactions related to mortgages.

Other options suggesting conditional fees for the HUD-1 either imply that it could be charged under specific circumstances or that fees could be applied for additional copies, which are not aligned with current regulations. Thus, the correct understanding is that the borrower is not liable for any charges associated with the preparation of this essential document.