Real Estate Closing Statement
Real Estate Closing Statement refers to the Hud-1 Settlement Statement form used for most real estate closings in the United States.
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 Hud-1 Settlement Statement. It is also useful for mortgage loan closings.
The official Line-by Line Instructions for Preparing the Hud-1 Real Estate Closing Statement are located at: http://www.hud.gov/offices/hsg/sfh/res/rsphud1inst.pdf
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