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eheffner

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Reply with quote  #1 
I have requested HUD-1 statements from 2 clients in the past month and they have provided me with "ALTA" or Atlanta Land Title Association documents.  It lists everything the HUD-1 does and I cited this as one of my sources.

Do HUD-1 statements still exist or are they now called "ALTA" statements?
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Chuck_Schick

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Reply with quote  #2 
As part of new rules established by the Consumer Financial Protection Bureau effective October 3, 2015, the HUD-1 Settlement Statement became obsolete. It has been replaced by a document called the Closing Disclosure that consolidates the HUD-1, Good Faith Estimate, and Truth in Lending Act disclosures.

ALTA is just the name of the Title company.  It probably states that it is a Closing Disclosure.
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Meatloaf

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Reply with quote  #3 
Hey.... I learned something.

If someone could tell me how to actually read and understand the closing statement, I will be impressed.

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MEP

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Reply with quote  #4 
I know you are kidding...they are not complicated...it is simple bookkeeping on a 30 period not 365 days
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M. E.

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Meatloaf

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Reply with quote  #5 
That craps complicated.  Makes no sense to me.

I don't do book keeping either.

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johnmbryant

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Reply with quote  #6 
Would someone post a disclosure statement.  I would like to see one.
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MEP

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Reply with quote  #7 
I haven't seen one of the new ones...also, I don't have one to post...if it contains the buyer SS # it may not be a good thing to post one!
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pnalley

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Reply with quote  #8 
They are easy to read. Same as before, read teh 2nd page 1st, the 1st page second. If I still have one from my last closing I'll redact & post
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Paula Nalley
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johnmbryant

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Reply with quote  #9 
A redacted report would be fine.
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pnalley

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Reply with quote  #10 
Apparently I don't have one, or if I do I can't find it on my current computer
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Paula Nalley
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nogava

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Reply with quote  #11 
This is from a client's closing back in May.  This is basically what is presented to all parties as the Closing Disclosure.

 
Attached Files
pdf Master Settlement Statement_CDF.pdf (59.20 KB, 18 views)


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MichelleDeRepentigny

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Reply with quote  #12 
There are now 3 forms used for most transactions:
1) Seller Closing Disclosure
2) Buyer Closing Disclosure
3) The ALTA - which combines and is the "replacement" for the HUD-1 for transactions using mortgage financing

Attached is a redacted Seller Disclosure & ALTA.

This was a nightmare when enacted due to the closing attorneys consideration of privacy rights, but now the GAR typical purchase and sale agreement (page 1 item 12) specifies that the ALTA can be provided to us (agents/brokers) but I still have some attorneys that I have to prove it to.

pdf SD and ALTA redacted.pdf     



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Michelle DeRepentigny
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MEP

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Reply with quote  #13 
This may be the result of someone being under employed by the Fed Government...similar to the 1004 MC
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