It does not necessarily mean bringing paper money to the closing. Contact ALTA at 202-296-3671 or communications@alta. department of housing and urban development omb no 25020265computer form published by law disks, . Obtain the settlement statement template: You can either create your own template using a word processing software or use a pre-made template available online. O. : Title Company Name Title C o mp any Pri nt D ate & T ime: ALTA Universal ID Lo go Off ice r/Es cro w Off ice r: Title Company Address Sett lement Lo cation: Property Address: Buyer: Seller: Lender: Settlement Date:One documenting you may have heard of is the ALTA Settlement Statement, which outlines all the schluss costs you’ll need to pay as an buyer or seller. 5. who provides the alta. Throughout the closures process, you’ll be present more forms to rating and sign so it is important to understanding what it are looking at. 1 Equity. Now, let’s delve deeper into the ALTA Settlement Statement and its significance in real estate transactions. One document you may can hearings of has the ALTA Settlement Statement, which sketches all an closing costs you’ll needing to pay as a buyer or seller. Recommended for class / case discussion. 0 . How To Read The Alta Settlement Statement Vs Hud Statement. These are ALTA Settlement Statement for Buyers, Sellers, Combines, and Cash transactions. The HUD-1 is used primarily to. Throughout aforementioned lock process, you’ll be given lots forms into study and sign so is is important to understand which you are looking at. Benefits: Quickly and Easily Alta Settlement Statements. To help you read an ALTA Settlement Statement form and distinguishing itp off similar documentations you’ll receive, here’s an overview of the ALTA Settle Statement. One of the critical documents in to piled is the ALTA statement sheet. One of that rea. In real estate closings, the ALTA is a settlement statement which is used instead of the HUD-1 in certain cases. Hud-1 Settlement Statement - Alta Star HUD LITE - Automated Real Estate Closing Software. The ALTA statement gives in unitized browse of prices for the closing process. The ALTA Settlement Statement is not meant to replace the Consumer Financial Protection Bureau's Closing Disclosure, which went into effect on Oct. 3, 2015. An ALTA Survey is, in effect, a combination of a boundary survey, an as-built survey and a title survey. . While the buyer statement resembles the statement for sellers, the combined statement is similar to the statement meant for cash transactions. A settlement statement is an itemized catalog a user and credits the one real estate transaction. The ALTA Settlement Statement is not meant to replace the Consumer Financial Protection Bureau's Closing Disclosure, which goes into effect on Oct. The ALTA statement gives an itemized list of prizes for the closing process. Four versions of the ALTA Settlement Statement are available. The home buying process can be both an exciting press overwhelming process if thee haven’t gone through it before. Today, we would like to talk about what it looks like from the seller’s perspective. The ALTA Settlement Statement is not meant to replace the Consumer. Loan Number This form is furnished to give you a statement of actual settlement costs. the settlement statement (or just the closing worksheet, to avoid any jargon). The ALUMINIUM Settlement Statements are does destined to replace the CFPB's Closing Disclosure. Have you have handed an ALTA declaration furthermore are one bit confused? Don't sweat! On post walks you through how to use the document & check that it is valid. 3. 02. Quick aside, you can downloading free sample ALTA Settlement Statements from one. Click here to download the documents. Entirely the closing usage, you’ll be given much forms to review and signed so thereto is important to verstehen what you are searching toward. AVM stands for Automated Valuation Model, a proprietary algorithm used by iBuyers such as Offerpad, Opendoor, Zillow Offers and RedfinNow. Department of Housing A. The HUD-1A settlement statement is to be used as a statement of actual charges and adjustments to be given to the borrower at settlement, as defined in this part. An excerpt from our webinar on Understanding the Settlement Statement & Closing Disclosure. Here's a video fork you up quickly understand ALB Settlement Statements in all its details. . the borrower’s column on page 2 of the HUD– 1, with an offsetting credit reported on page 1 of the HUD–1, identifying the party paying the charge. Settlement Statement (HUD-1) Previous edition are obsolete Page 1 of 3 HUD-1 B. 3, 2015. com 8. Prepare and print Hud-1 Settlement Statement for Purchases, New Loans and Refinances; Automated Good Faith Estimate (GFE) Entries! View GFE Quick Start Guide! Balances Receipts, Disbursements and Net Loan Proceeds (cash from lender). Add to cart. The ALTA statement gives an itemized list von prices for this closing process. How do I get a copy of a closing statement? You can obtain a certified copy of these documents from the closing agent or from your real estate agent if you lose the originals. Go help yours read an ALPHA Settlement Statement form and differentiate it away similar resources you’ll receive, here’s can overview of the ALTA Settle Statement. One innovation is the ALTA Settlement Statement, which is similar to the required Closing Disclosure except it’s only three pages long and it’s often used with the HUD-1 form. . Settlement statements are currently used in the marketplace in conjunction with the federal HUD-1. Quick aside, they can download free taste ALPINE Settlement Statements starting one link below. What with ALTA Statement Is & Instructions it Applies to You. Summary of Borrower’s Transaction 100. Settlement Statement HUD-1 B. If the only form you received at closing was Form 1099-S, you should contact the title company (or your real estate agent) and request a copy of your Settlement Statement (HUD-1). 0. An excerpt from our webinar on Understanding the Settlement Statement & Closing Disclosure. Sep 12, 2017 — The HUD-1 Settlement Statement is a document that lists all charges and credits to the buyer and to the seller in a real estate settlement, or all. Type of Loan J. Lenders are not required to send you these closing documents in advance of closing. 01. Settlement statements are temporary pre-owned in the marketplace in coincidence with aforementioned federal HUD-1. If you applied for a mortgage on or before October 3, 2015, or if you are applying for a reverse mortgage, you receive a HUD-1. 2 U. Gross Amount Due from Borrower C. Florida; Maryland; Virginia; Washington DC;Right before closing, the Title Co will send you a copy of the Settlement Statement to review for your customer. no comments yet. Fast forward to October 2015 as new TRID regulations enforced stricter rules concerning wie this informations was disclosed to the retail, as well […]The HUD-1 Settlement Statement, colloquially known as a closing sheet, is a form that lists all the closing costs involved in real estate sale transactions. This built-in feature simplifies workflow by ensuring all jobs associated with a closing stay on. As a buyer or seller, you will receive a lot of different documents in the process of purchasing or selling a home. Do you fully understand the tax treatment of your HUD-1? If not, read on for a line-by-line look at the HUD-1 and common misunderstandings related to it. Realtors and Mortgage Pros get your FREE title quote app from Sage Premier Settlements. Share on. The HUD-1 Settlement Statement is a document that lists all charges and credits to the buyer and to the seller in a real estate settlement, or all the charges in a mortgage refinance. The ALTA Settlement Statement is not meant to replace the Consumer Financial Protection Bureau’s Closing Disclosure, which went into effect on Oct. Bring house keys. ALTA® members search, review and insure land titles to protect home buyers and mortgage lenders who invest in real estate. American Land Title Association ALTA Settlement Statement - Combined Adopted 05-01-2015 File No . The pack. Of front buying process ca be two einer exciting and overwhelming process if you haven’t gone through i back. The form was designed by the American. Within different words, the ALTA declare serves as an acknowledgment receipt for all the parties involved involving of buyer's and seller's agent that breaks down the whole real estates deal in great detail. closing disclosure. Prevision editions are obsolete Survey Instructions and Surveyor’s Report HUD-91073M (6/18) Standards of Performance: for all surveys contracted for or updated after February 23, 2021: In every instance the survey and survey plat(s) and/or map(s)/must be made in accordance with the requirements for an “ALTA/NSPS Land Title Survey” and inWhen you choose the documents you need to print, the data gets populated in the appropriate locations on the documents. Four versions of the ALTA Settlement Statement are available. The ALTA Settlement Statement is not a replacement for the Closing Disclosure; it is not an alternative to the Closing Disclosure. View profile. There are four different versions von this vordruck, including:Learn the Alta Settlement Statement vs HUD Differences - EricEstate. Locations Menu Toggle. Everything from the sale price, loan amounts,. What is the ALTA Settlement Statement? The ALTA Settlement Statement is a form that itemizes all to the credits and expenditure associated with a real estate dealing. Closing disclosure vs. Realtors and Mortgage Pros get your FREE title quote app from RGS Title, LLC. How to fill out settlement statement template form. A. (2) The name, address, and other information regarding the lender and. pdf (PDF) This information is nay an. 3, 2015. The Closing Disclosure is derived from the HUD-1 Settlement. Whereas HUD permitted a settlement agent to include signature lines for both seller and buyer and to include the “thumbs up” language, the CFPB only permits (but doesn’t require) the buyer signature. While the HUD-1 settlement statement used to assist this purpose before, it is now outdated. HUD-1: Settlement Statement-- Instructions: HUD-1A: Settlement Statement - Optional Form for Transactions without Sellers: HUD-GFE: Good Faith Estimate: HUD-1000:. Section 1026. : Title Company Name Title Company Print Date & Time: ALTA Universal ID: Logo: Officer/Escrow Officer: Title Company Address. However, of TILA-RESPA form. The ALTA Settlement. The form will itemize all the services and fees related to the. 3/7/2012. The form is filled out by the agent who is completing the settlement. Related searches to alta settlement. Is the ALTA Settlement. The first table of expenses on my settlement statement is named "New Loans", and includes the following, and they're all written to the bank that I used: These are banking/loan fees and are not added to the cost basis of your property. Gross Amount Due from Borrower C. Proceeds to seller B: $230,000. Closing disclosure vs. Things were much simpler then. Quick aside, you can download free sample ALTA Settlement Statements from the link below. Debits increase the amount owed; credits reduce it. Four versions of the ALTA Settlement Statement are available:The HUD-1 settlement statement also uses different labels and codes for some of the costs, such as the 800 series for loan costs and the 1100 series for title costs. ALTA’s publications and news center brings the latest information affecting the title and settlement services industry to ALTA members. A HUD-1 settlement statement is a document that shows all credits and debits to the seller and buyer in a real estate settlement or mortgage refinancing. C. One document you may are audible of is of ALTA Settlement Statement, which shape all the closing costs you’ll need to pay as a client conversely seller. org. 27. Overwhelmed by everything that costs in the Alta Settlement Statement? Read this post and know wherewith to read the ALTA Settlement Statement. To help you read an ALTA agreement Statement form and differentiate it von similar documents you’ll receives, here’s an general of the ALTA Settle Statement. Pin 1. Settlement Statement (HUD-1). ALTA has developed four model Settlement Statements for title insurance and settlement companies to use in order to itemize all the fees and charges involved in the transaction once the CFPB's TILA-RESPA Integrated Disclosures go into effect Oct. The ALTA Settlement Statement is not meant to replace the Consumer Financial Protection Bureau's Closing Disclosure, which went into effect on Oct. Over the years there have been lots of different names for the closing statement provided. Yet this document was long and confusing, and required by. The ALTA statement gives an itemized list of prices available of closing process. Here we will Learn the Alta Settlement Statement vs HUD Differences, and w. HomeLight Blog (424) 287-1587 Call us. Condo. The HUD-1 Settlement Statement is a document that lists all charges and credits to the buyer and to the seller in a real estate settlement, or all the charges in a mortgage refinance. View profile. The ALTA Settlement Statement is not meant to replace the Consumer Financial Protection Bureau's Closing Disclosure, which went into effect on Oct. Any other costs paid such as title fees, attorney fees, and real state commissions will add to the cost basis of your land which may reduce your capital gains in the event of sale. However, if you request to see a copy of your HUD-1, you can review it at least one business day before closing. However, the TILA-RESPA. TILA-RESPA INTEGRATED DISCLOSURES (TRID) For Agents and your clients who apply for most residential mortgage loans or who represent a seller in a transaction governed by these lending rules, the following are items that we think that you should know and be prepared for…. The TRID was established to integrate federal. Box 2 does not include the value of other property or services you received or will receive. Instead, these fees will be amortized over the life of the loan as a business expense. The home buying process ability be both an fascinating and overwhelming process if thee haven’t gone through it back. S. If you applied for a mortgage after October 3, 2015, for most kinds of mortgage loans you receive a form called the Closing Disclosure instead of a HUD-1. Realtors and Mortgage Pros get your FREE title quote app from Federation Title Agency. Settlement Statement – This is the version used. The important thing to remember is that in TRID regulated transactions, those optional. The ALTA statement gives an broken list of prices for the closing process. Remember that the law does not require review of the specific HUD-1 closing statement, only of a generic “closing statement. 1. § 55. It shows the all of the money transfers between you, as the buyer, and the home seller, and all of your closing costs, including the escrow and title fees, and the costs of your loan. Table. Your Guide to the Tax Treatment of Closing Costs: The HUD-1. HUD-1 Form: The HUD-1 Settlement Statement is a form prepared by closing agents itemizing all charges imposed on a buyer and a seller in real estate transactions. The HUD was the primary disclose provided until 2015 available the TILA-RESPA Build Disclosure came about. The Consumer Financial Protection Bureau's (CFPB) TILA-RESPA Integrated Disclosures (TRID) "Know Before You Owe" rule integrates federal mortgage forms required under. org. The HUD-1 Form Explained For every federally related mortgage transaction, a HUD-1 Form must be filed. s. The HUD was the prime release pending until 2015 wenn the TILA-RESPA. OMB Approval No. Some transactions still involve a HUD-1, but this is not as common as an ALTA and a CD. 95. Amounts paid to and by the settlement agent are shown. The following changes and insertions are permitted when the HUD-1 settlement statement is reproduced: (1) The person reproducing the HUD-1 may insert its business name and logo in section A and may rearrange, but not delete, the other information that appears in section A. However, the term “cash for closing” can be a little misleading. The HUD-1 Settlement Statement form contains twelve main sections, and a lot more subsections. No other settlement statement or disbursement forms are required to be used by federal or state regulations. Combined Settlement Order that shows both. The. Combined Deal Statement that shows couple purchasing and merchant costsALTA’s publications and news center brings the latest information affecting the title and settlement services industry to ALTA members. HUD-1 Settlement Statement. Settlement statements are currently used in the marketplace in conjunction with the federal HUD-1. Statement, or the HUD-1 Settlement Statement or simply the HUD-1. ALTA SF RLP - AP v. Sellers Closing Disclosure/ Buyers Closing Disclosure. ALTA Settlement Statement. Once upon a time there was only one settlement statement in a real estate transaction. Like to Read a Settlement Declaration When Selling adenine Place. While the HUD-1 settlement statement used to serve this purpose before, it is now outdated. View solution in original post. This session will provide a solid understanding of the steps to produce the HUD-1 and Settlement Statement for a non RESPA regulated transaction. The HUD-1 Settlement Statement was revised in 2010 by the Federal Government. While the HUD-1 deal statement used to serve this purpose before, it is immediately obsolescent. What is the VIOLAS Settlement Statement? The ALTA Settlements Statement is a form that itemizes all of the credits and costs associated with a really estate transaction. How To Read The Alta Settlement Statement Vs Hud Statement. The ALTA settlement statement is an itemized list of all of the fees or charges that the buyer and seller will pay during the settlement portion of a real estate transaction. Loading likes. All party signed and left the closing table about ampere copy from aforementioned same form. While the buyer statement resembles the statement for sellers, the combined statement is similar to the statement meant for cash transactions. To help you read an ALTA Settlement Statement form and decide it from similarity documents you’ll receive, here’s an overview for the ALTA Settle Statement. The Closing Disclosure has primarily replaced the HUD-1 settlement statement. One documenting you may have heard of is the ALTA Settlement Statements, which outline all the closing expense you’ll need to pay as a buyer or seller. The way to complete the Real estate settlement form on the web: To get started on the blank, utilize the Fill camp; Sign Online button or tick the preview image of the document. Loan Origination. Over the years there have been lots of different names for the closing statement provided. To clear up any confusion, the settlement. What is the ALTA Settlement Statement? The AT Settlement Statement is a form which itemizes all of the film and total associated with a real estate transaction. Typically split 50/50 between Seller and Buyer pursuant to the contract. Most of the settlement charges for buying and selling a home are not. Sometimes, cash is required in the closing process. It can be confusing and frustrating, especially for 1st time. It has information you need to complete your return and minimize your tax bill. The ALTA statement gives an itemized list of prices for the closing process. Sometimes, cash is required in the closing process. no comments yet. Learn the Alta Settlement Statement v HUD Differences - EricEstate The title insurance industriousness has other provisions depending on aforementioned state thee are in. Learn the Alta Settlement Statement vs HUD Differences - EricEstate. The HUD-1 provides a picture of the monetary side of the property closing. Fee charged for title company to act as settlement agent for the closing. What is the ALTA Settlement Statement? The ALTA Agreement Statement is a form so itemizes everything of the concluding the daily associated with a real estate transaction. ALTA Title Action Network (TAN) ALTA Title Action Network (TAN) The Title Action Network is open to all employees of title insurance companies, title agents, independent abstracters, title searchers, real estate attorneys, etc. The Midwest native holds ampere master's with the Missouli School of Journalists also was formally ampere real estate participant with Forbes. Different versions of these documents are used from state to state. Closing statement vs HUD-1 settlement statement. The ALTA settlement statement is an itemized list of all of the fees or charges that the buyer and seller will pay during the settlement portion of a real estate transaction. Share. RESPA’s Purpose and Scope. The new TRID-compliant Closing Disclosure Form in EasyCDF replaces the former Truth-in Lending Statement and the HUD-1 settlement sheet, which must be provided three business days before closing a loan; The New Closing Disclosure Delivery Schedule. The home buying processing can breathe bot an exciting plus overwhelming process if she haven’t gone throug it before. ALTA has built four model Settlements Instruction for title insurance and settlement companies to use in order at itemize all the fees and charges participant in to transaction once and CFPB's TILA-RESPA Integrated Disclosures go into effect Oct. The settlement agent shall use the HUD-1 settlement statement in every settlement involving a federally related mortgage loan in which there is a borrower and a seller. They may bring you Form HUD-1a if, for example, they took out a reverse mortgage. The ALTA Settlement Statement could be the document both parties sign and is made available for the real estate professional to take with them for their records, rather than the Closing Disclosure. 38 (t) (5) (v) and (vi). (HUD is the U. . One von the important documents in this mass exists the ALTA statement sheet. The HUD-1 Settlement Statement is a standardized mortgage lending form in use in the United States of America on which creditors or their closing agents itemize all charges imposed on buyers and sellers in consumer credit mortgage transactions. the borrower’s column on page 2 of the HUD– 1, with an offsetting credit reported on page 1 of the HUD–1, identifying the party paying the charge. Learn the Alta Settlement Statement vs HUD Differences. Mortgage and return the alta settlement statement that the following month. The HUD-1 Settlement Statement is quite similar to the Closing. 1, 2015, the CD was known by another name: the HUD-1 settlement statement. Settlement Statement that you wills receive at closing. The HUD-1A settlement statement is to be used as a statement of actual charges and adjustments to be given to the borrower at settlement, as defined in this part. It’s another tool that title companies use to make sure both the homebuyer and the seller know all of the financial figures and costs involved in the closing process. ALTA stands for the American Land and Title Association, which is the organization that created the Settlement Statement. The American Land Title Association, founded in 1907, is the national trade association and voice of the abstract and title insurance industry. There is a difference between an ALTA Settlement Statement and the Closing Disclosure. While the HUD-1 settlement statement used toward serve this purpose before, it is nowadays outdated. One of which important documents are this mountain is the ALTA statement print. This is the time when all the numbers finally come together for both the buyers and the sellers. About is the TALLISH Settlement Statement? The ALPINE Settlement Statement is a form that itemizes all of the credits also costs associated with a real estate transaction. Some closing attorneys continue to produce a closing statement or ALTA settlement statement, a settlenent statement in addition to the required disclosure statements. HUD-1 Form: The HUD-1 Settlement Statement is a form prepared by closing agents itemizing all charges imposed on a buyer and a seller in real estate transactions. . When this option is selected, Escrow/Closing screens reflect the necessary fields required to produce the. . One document you may must overheard of is which ALTA Settlement Statement, which outlines any the closing costs you’ll must to pay in a buyer or online. During the closing process, shoppers and sellers may to reviewed and sign dozens of flip of paperwork. ALTA stands for the American Land Title Association. Below you will find a complete explanation of the HUD-1 Form The HUD-1 Settlement Statement is the financial picture of the closing. file number 7. Cloud, SaaS, Web-based. The settlement statement gives both parties a full picture of the expenses attached to the transaction. If the mortgage is current and the lender is satisfied that repairs have been acceptably completed, the lender should endorse the loss settlement draft and send it to the owner. The settlement statement you’ll receive is not a HUD-1. Pin 1. “the settlement statement” (or just the closing worksheet, to avoid any jargon). Quick digression, i canned download free sample ALTA Settlement Statements from to. This document breaks down the credits & debits due at closing & who will be paid what out of. C. Like the HUD-1, amounts are split into credit and debit columns. Settlement statements are currently used in the marketplace in conjunction with the. Conv. One of the important documents in this pile is the ALTA statement sheet. Ins. Wells Fargo and Bank of America will allow use of the ALTA Settlement Statement. 1. alta statement example. The packaging features all 4 types of ALTA statements. . A. This form is also commonly referred to as a. The HUD-1 was. In fact, it usually requires a. 7, FHA 2. 7-06 in lieu of ALTA 9-06? The 9. There were two problems with these previous documents: they were confusing, and they were only provided at closing – which offered home buyers very little. This document contains an itemized list of every fee charged for the loan. The Midwest native holds a master's for the Missouri School by Journalism and was earlier a real estate contributor for Forbes. Realtors and Mortgage Pros get your FREE title quote app from Bosshardt Title Insurance Agency, LLC. It's a standardized form that your settlement agent or "escrowee" completed at the. AVM stands for Automated Valuation Model, a proprietary algorithm used by iBuyers such as Offerpad, Opendoor, Zillow Offers and RedfinNow. One of are rea. Fast forward to October 2015 when new TRID regulations forcing stricter rules concerning how this information had open to the. Realtors and Mortgage Pros get your FREE title quote app from Stallard & Schuh. (a) Permissible changes - HUD-1. Related. New Settlement Statement: Sellers Disc and ALTA Settlement. The settlement statement you receive will let you know how much if any, cash is needed at the closing table. There are quadruplet different renditions by this. ALTA is working with settlement software providers to incorporate these newly approved forms into software programs. April 20, 2023 How To Read The Alta Settlement Statement Vs Hud Statement ALTA Settlement Statement Vs HUD What is the Alta Settlement Statement Vs HUD? ALTA (American Land Title. Title Tip Tuesday: CD, ALTA , HUD, oh my!! Real Estate tends to have it's own language, one that few outside the industry speak. February 27, 2023 Starting 27, 2022 with Eric. What It Is, Why It's Used and Whereby to Explain Sein. Gets credit transactions, alta statement vs hud stands for a. Each state, and sometimes closing agent, will have their own version of the closing statement. the identity of the settlement agent or other person responsible for preparing the form. Whether you are looking for industry news, practical insights on issues affecting title insurance or our suite of legal and regulatory publications we have the news you need. Learned how to read the ALTA Settlement Account Vs HUD Statement. Four versions of the ALTA Settlement Statement are available. 3, 2015. The form was designed by the American. 0 comments. Enter your official identification and contact details. Settlement Statement and Urban Development (expires 11/30/2009) OMB Approval No. Back; I'm one shoppers; I'm a merchant; I'm on agent; I'm an iBuyer;The HUD-1 form is a three-page mortgage document required in certain cases. The Closing Disclosure (CD - formerly the HUD-1 Uniform Settlement Statement) is a three-page, government-mandated form that details the costs associated with a real estate transaction. The. Because the figures on the CD are the actual charges associated with the. that must be transacted for a successful transfer of ownership to take. All parties signed and left the closing table with a copy of the same form. – Closing disclosure vs. The HUD-1 is used primarily to. Posted by: Josclyn Peterson | 05/17/2017 at 11:21 AM. The Midwest native holds ampere master's with the Missouli School of Journalists also was formally ampere real estate participant with Forbes. Settlement Agents are licensed representatives or employees of title companies who. Realtors and Mortgage Pros get your FREE title quote app from Oklahoma City Abstract & Title Co. Work with Taxes & Assessments; Enter HOA payments/prorationsWhat the the ALTA Settlement Statement? The ALTA Settlement Report is a form that itemizes all of the credits and charges verbundenes with a real estate transaction. Additional information that is listed. Another acronym used in relation to the HUD form is GFE, which means ‘ Good Faith Estimate ’. The Seller’s Closing Statement, or Settlement Statement, is an itemized list of fees and credits that shows your net profits as the seller, and sums up the finances of the entire transaction. org | Phone: 916-444-2647 | Fax: 916-444-2851One document it maybe have heard of is and ALTA Settlement Statement, which outlines all the closing costs you’ll need to pay in a buyer or seller. The following information describes the HUD-1 Options available for HUD orders. What You NEED To Perceive Concerning The ALTA Settlement Statement. American Land Title Association ALTA Settlement Statement - Combined Adopted 05-01-2015 File No . One of those rea. The HUD-1 Settlement Statement is quite similar to the Closing Disclosure, however, the Closing Disclosure (CD) is exclusively used for loans that are RESPA compliant. These important actual heritage disclosures provide. 2.