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It is also usually required for other types of loans as well. Comprehensive settlement statement documentation is required for mortgage loan products. In its most common form, a settlement statement is part of a loan closing package provided to a borrower, usually from a loan officer at a lending institution. Beyond just loans, settlement statements can also be created whenever a large settlement has taken place, such as with a large business transaction or potentially in the legal, insurance, banking, and trading industries.A loan settlement statement provides full disclosure of all of a loan’s terms and conditions as well as all extraneous fees.A settlement statement is a document that summarizes the terms and conditions of a settlement, most commonly a loan agreement.