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Hud1 Settlement Statement

Hud-1Settlement Statement refers to the settlement statement form used for most real estate closings in the United States. It is officially known as the Hud-1 Settlement Statement.

The official name comes from the Hud-1 Settlement Statement form promulgated by the United States Department of Housing and Urban Development (HUD). The form is sometimes also referred to as a "RESPA form" or "RESPA Closing Statement", named after the federal Real Estate Settlement Procedures Act or simply referred to as a "closing statement" or "real estate closing statement". For more information on RESPA, see http://www.hud.gov/offices/hsg/sfh/res/respa_hm.cfm

Alta Star HUD LITE is a real estate closing software application and program which automates the calculations and preparation of the Hud1 Settlement Statement. It is also useful for mortgage loan closings.

The official Line-by Line Instructions for Preparing the Hud-1 and Hud-1A Settlement Statements instructions are located at: http://www.hud.gov/offices/hsg/sfh/res/rsphud1inst.pdf

To view the HUD LITE Program Help Menu, click here

 

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