Mortgage settlement--sometimes called mortgage closing--can be confusing. A settlement may involve several people and many documents and fees. Settlement costs can be high, so it pays to shop around and negotiate with the seller, your lender, and your attorney or settlement agent. The less you have to pay in settlement costs, the more funds you will have for other things. Read more on the Federal Reserve's website.
Consumer's Guide to Mortgage Settlement Costs (Federal Reserve Board)
See also Home Ownership