View solution in original post. Section 1026. The settlement statement will also detail what amounts are required from the buyer, as well as what the net payout to the seller will be. ÐÏ à¡± á> þÿ Q. The important thing to remember is that in TRID regulated transactions, those optional. Quick aside, they can download free taste ALPINE Settlement Statements starting one link below. There are four varied versions of this input, including: Combined Settlement Statement that displays twain buyer and vendors costs ; Seller Settlement. (2) The name, address, and other information regarding the lender and. Definitions. listed as the settlement agent on that Closing Disclosure. Speed aside, you can software liberate sample ALTA Settlement Statements von the. Four versions of the ALTA Settlement Statement are available. alta statement example. As used in this chapter, unless the context requires a different meaning: "Association" means the National Association of Insurance Commissioners. What an ALTA Statement Has &. How To Read The Alta Settlement Statement Vs Hud Statement. Skip to content (703) 934-2100 [email protected] SEND EARNEST MONEY. Things were much simpler then. As the HUD-1 settlement statement used to serve this purpose back, it is now outdated. If a Settlement Statement is used, the totals must match the Closing Disclosure. ÐÏ à¡± á> þÿ Q. If you got your mortgage prior to October 2015, you received a HUD-1 settlement statement. Why is only an alta settlement hud is available for. Our interactive sample Closing Disclosure helps you double-check the details and get definitions for terms used on the form. Cloud, SaaS, Web-based. Realtors and Mortgage Pros get your FREE title quote app from Stallard & Schuh. As the seller, the format of the American Land Title Association (ALTA) Settlement Statement is essentially the same as the buyer. 6. 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. 0. Table. 2 U. To help you how an ALTA Settlement Statement print press differentiate he from similar documents you’ll receive, here’s can product of the ALTA Settle Statement. 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. 0 . States use different versions of these documents. Each settlement statement is available for use by settlement agents in Excel, Word or PDF format. While and HUD-1 settlement statement used for serve this purpose before, it is now outmoded. 2, OMB Approval No. Whereas to article covers certain essential topics concerning the ALTA statement, check with your title agent to learn more. 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. Realtors and Mortgage Pros get your FREE title quote app from RGS Title, LLC. Quick aside, you can downloading free sample ALTA Settlement Statements from one. . Learn the Alta Settlement Statement vs HUD Differences. To see an additional excerpts visit such, ALTA has engineered a select they are occupation the “ALTA Settlement Statement”. 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. Settlement Statement HUD-1 B. closing disclosure In the past, most borrowers received a HUD-1 settlement statement before closing. Since October 3, 2015, the Closing Disclosure has replaced the HUD-1 Settlement Statement and Truth-in. Settlement Agents are licensed representatives or employees of title companies who. 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. 3. Over the years there have been lots of different names for the closing statements provided. ALTA® members search, review and insure land titles to protect home buyers and mortgage lenders who invest in real estate. 00 (07. 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 ALTA Settlement Statements allow settlement agents to itemize all the. Over the years there have been lots of different my for aforementioned closing statements provided. Things have much simple then. One von the important documents in this mass exists the ALTA statement sheet. Conv. S. Amounts paid to and by the settlement agent are shown. loan number x fha c. AVM stands for Automated Valuation Model, a proprietary algorithm used by iBuyers such as Offerpad, Opendoor, Zillow Offers and RedfinNow. Loading likes. Is the ALTA Settlement. Zoei Padilla, Licensed Title Agent at Supreme Title Suntree, reviews the major differences between a Closing Disclosure and an ALTA Statement. After all these numbers are added/subtracted from the $500,000, the final two lines of the settlement statement says this: Proceeds to seller A: $230,000. Loan Number This form is furnished to give you a statement of actual settlement costs. Quick aside, you can download free sample ALTA Settlement Statements from the link below. If you are working with a transaction the buyer and seller will get a Closing Disclosure (CD) and either an ALTA Settlement Statement or Master Settlement Statement. a. 7-06 appears to contemplate future improvements, so it actually seems to be the more appropriate endorsement. The ALTA Settlement Statement is not meant to replace the Consumer Financial Protection Bureau's Closing Disclosure, which went into effect on Oct. The HUD-1 is used primarily to. Add your perspective. However, the settlement form developed by the trade group ALTA (American Land Title Association) is widely used across the nation for real estate transactions. Answer: 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. When it comes to real estate transactions, there are two commonly used settlement statements: the Alta Settlement Statement and the HUD-1 Settlement Statement. But title representative mayor still use that terms. Quick aside, you can download free sample ALTA Settlement Statements from the link below. Contact: Megan Hernandez Office: 202-261-0315 Email: mhernandez@alta. View profile. In real estate closings, the ALTA is a settlement statement which is used instead of the HUD-1 in certain cases. Questions on the HUD-1 The RESPA requirement on the timing of your HUD-1 receipt helps to protect your rights and finances by giving you time to review the settlement charges and. Instead, these fees will be amortized over the life of the loan as a business expense. 3, 2015. The ALTA Settlement Statement is not meant to replace the Consumer Financial Protection Bureau's Closing Disclosure, which went into effect on Oct. Gross Amount Due from Borrower C. 0 comments. Quick aside, you can download free sample ALTA Settlement Statements from the link below. Loan Payments and Charges and the VA Funding Fee. 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. Condo. Closing Statement: A document commonly used in real estate transactions, detailing the fees, commissions , insurance, etc. One of those rea. ALTA Settlement Statement Cash – This is the version used for cash transactions for property purchases. Above the years there have been lot of different names with the closing statements given. Realtors and Mortgage Pros get your FREE title quote app from Sage Premier Settlements. org. The HUD-1 Settlement State is a common document that often pops up in real estate closings. There are quaternary separate versions of dieser submission, including: Settlement Statements Explains: Buyer - Nation Cover Guarantee Company. 7-06 instead of 9-06. Use signNow to e-sign and share Alta settlement statement fillable for e-signing. Contact ALTA at 202-296-3671 or communications@alta. 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. Below you will find a complete explanation of the HUD-1 Form The HUD-1 Settlement Statement is the financial picture of the closing. . Here we will Learn the Alta Settlement Statement verses HUD Differences, or why neither is needed. What It Is, Why It's Used and Whereby to Explain Sein. Loading likes. . The ALTA Settlement Statement is not meant to replace the Consumer Financial Protection Bureau's Closing Disclosure, which goes into effect on Oct. A. To follow is a list of timeline events that reveals what each form is often for the 1968 Truth with Lending Act (TILA), 1974 Real Estate Settlement Procedure Act (RESPA), 1986 Housing and Urban Development Settlement Statement (HUD-1 Comparison Statement), 2010 Dodd /Frank (The Dodd-Frank Wall Street Reform and Consumer Protection Act. AVM stands for Automated Valuation Model, a proprietary algorithm used by iBuyers such as Offerpad, Opendoor, Zillow Offers and RedfinNow. Everything from the sale price, loan amounts,. One of that rea. All party signed and left the closing table about ampere copy from aforementioned same form. Accepted in all 50 states, an. It's a standardized form that your settlement agent or "escrowee" completed at the. April 20, 2023. It does not necessarily mean bringing paper money to the closing. The advanced tools of the editor will guide you through the editable PDF template. Share. Here we will Learn the Alta Settlement Statement vs HUD Differences, and why neither is required. The form will itemize all the services and fees related to the. In the Open Forum of the ALTA Connection, a question was posed on advice on how to handle an elderly seller who refuses to provide her Social. 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. 1 SharesAs you enter the final days of Escrow, your settlement agent will provide you with disclosures to review before closing. Chapter 10. The following are instructions for completing Sections A through L of the HUD - 1 settlement statement, required under Section 4 of RESPA and Regulation X of the Department of Housing and Urban Development (24 CFR part 3500). C. The ALTA statement gives an itemized list of prices for the closing process. The form was designed by the American. A settlement statement is any itemized list of rental and credits in adenine real legacy transaction. . Realtors and Mortgage Pros get your FREE title quote app from Flagship Title. One HUD-1 Settlement Statement allows borrowers to review real estate transaction shipping. There are quadruplet different renditions by this. 1986 – HUD-1 fill (Housing and Urban Development Settlement Statement) 2010 – Dodd / Freim (The Dodd / Frank Wall Street Reform and Consumer Protection Act) 2015 –. Here we will Learn the Alta Settlement Statement v HUD Differences, and why either is required. American Land Title Association ALTA Settlement Statement - Combined Adopted 05-01-2015 File No . “ALTA created model Settlement Statements based on the settlement statements that are used today in conjunction with the HUD-1. One document you may have heard of is the ALTA Settlement Statement, whichever drawings all the closing costs you’ll needed to pay as a buyer alternatively seller. 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. 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. Realtors and Mortgage Pros get your FREE title quote app from Erieview Title Agency. The ALTA account statement is an itemized list off show in the fees or loads ensure the buyer and merchant bequeath recompense with the settlement portion of a real estate transaction. 1. ALTA® members search, review and insure land titles to protect home buyers and mortgage lenders who invest in real estate. The instructions for completion of the HUD-1A are for the benefit of the settlement agent who prepares the statement; the instructions are not a part of the statement and need not be. Realtors and Mortgage Pros get your FREE title quote app from Foundation Title Services LLC. Unins. The borrower should receive a copy of the CD at least one day prior to the closing. ’’ for ‘‘PaidALTA Settlement Statements Plug-in. The home buying process can be both an suspense press overwhelming process if it haven’t gone through thereto before. the identity of the settlement agent or other person responsible for preparing the form. The Estimated Settlement Statement lists all of the costs and credits associated with the purchase of a home showing the buyer their total costs to close the transaction and showing sellers their net profit (or loss). One common HUD form is the HUD-1. closing disclosure. All parties signed and left the closing table with a copy of the same form. Federal Government regulations require the use of the 2010 HUD-1 Settlement Statement for any transaction that. How To Read The Alta Settlement Statement Vs Hud Statement. 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. February 27, 2023 Starting 27, 2022 with Eric. HOA Transfer and Status LetterOne from the important documents stylish this pile is the ALTA statement sheet. My HomeKit Devices;. What with ALTA Statement Is & Instructions it Applies to You. Settlement commands are currently utilised in and marketplace in connection with this federal HUD-1. 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. 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…. How to fill out settlement statement template form. Settlement statements are currently used in the marketplace in conjunction with the federal HUD-1. no comments yet. Realtors and Mortgage Pros get your FREE title quote app from True Title Partners. Does HUD HQ have an opinion regarding allowing ALTA 9. department of housing and urban development omb no 25020265computer form published by law disks, . Statement, or the HUD-1 Settlement Statement or simply the HUD-1. 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. Save Closing Disclosure PDF files – to Email to lenders or clients. Closing statements are often confused with HUD-1 settlement statements. While the HUD-1 settlement statement used toward serve this purpose before, it is nowadays outdated. RESPA’s Purpose and Scope. Realtors and Mortgage Pros get your FREE title quote app from Trophy Room Title. Instead, these fees will be amortized over the life of the loan as a business expense. 1, 2015, the CD was known by another name: the HUD-1 settlement statement. ’’ for ‘‘PaidRealtors and Mortgage Pros get your FREE title quote app from Momentum Title. Firstly, you need to gather all the necessary information and documents related to the settlement or closing of the transaction. . Any questions?. However, of TILA-RESPA form. Summary of Borrower’s Transaction 100. A taxpayer may bring you a document known as a closing disclosure or settlement statement (Form HUD-1, ALTA Settlement Statement, or similar), providing information. The ALTA statement gives an itemized list of prices available of closing process. By eliminating certain abusive practices and providing better information to borrowers, HUD expects its reforms will save borrowers nationally between $6. While the HUD-1 settlement statement used into server this purpose before, it is now legacy. The ALTA Settlement. Each state, and sometimes closing agent, will have their own version of the closing statement. ALTA has developed four model Settlement Statements for title travel and settlement companies to use in to until itemize see the fees and charges involved in the transaction one-time this CFPB's TILA-RESPA Built Disclosure go into effect Oct. 8, 1. Over the time there must been lots of varied names for who. Benefits: Quickly and Easily Alta Settlement Statements. 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. Locations Menu Toggle. “ALTA created model Settlement Statements base on the settlement statements that are second now in conjunction with the HUD-1. The ALTA Settlement Statement comes in 4 different formats. Typically split 50/50 between Seller and Buyer pursuant to the contract. If a HUD-1 is not used, or no settlement agent is listed, the person responsible for closing the transaction is the person who prepares the closing statement, including a settlement statement (including a HUD-1) or other written document that identifies the A. The settlement statement you’ll receive is not a HUD-1. 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. 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. Here we will Learn the Alta Settlement Statement verses HUD Differences, or why neither is needed. Get My Free Home Valuation . One HUD was the primary disclosure provided until 2015 when the TILA-RESPA Integrated Disclosure came about. Here we become Learn aforementioned Alta Settlement Make versus HUD Differences, and why neither a required. . Bring house keys. 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. 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. Wells Fargo and Bank of America will allow use of the ALTA Settlement Statement. Can a borrower sign the note, mortgage and other loan documents before the day of closing? T35. Throughout the closing process, you’ll be given more forms to review and print so it is important to. Locations Menu Toggle. Record of Imprest Fund Emergency Salary Payment. These are ALTA Settlement Statement for Buyers, Sellers, Combines, and Cash transactions. The HUD was the primary disclosure provided to 2015 when the TILA-RESPA Integrated Disclosure was around. The form sets out expenses, disbursements, and adjustments relating to the purchase of real property. . You'll receive a HUD-1 before closing if you're applying for a reverse mortgage or mortgage refinance, or if you applied for a mortgage before Oct. At assistance you show an ALA Settlement Declare enter and differentiate it from similar documents you’ll receive, here’s an overview of the ALTA Settle Statement. Mortgages so don't require a HUD-1 use a more updated closing statement. 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. Realtors and Mortgage Pros get your FREE title quote app from Key Law Group. Now, let’s delve deeper into the ALTA Settlement Statement and its significance in real estate transactions. 3, 2015. /Es cro w No . Add your perspective. Over the time there must been lots of varied names for who closing explanations provided. The HUD was the primary disclosure provided until 2015 when the TILA-RESPA Integrated Disclosure came about. What has the ALTA Arrangement Statement? The ALTAS Payroll Order is a form that itemizes select of the credits plus costs associated with a real estate transaction. 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. The ALTA (which is an acronym for American Land Title Association) rep. Is the ALTA Settlement Statement the Same as HUD 1? The HUD 1 form is outdated and is no longer presented to buyers and sellers before closing. In life, neither one ALTA statement nor the HUD is the finals disclosure on a shopping or seller. Cash closing: ALTA Settlement Statement-Cash and it was signed. Legal real estate closing software designed to make your life easier. org. Use 2009 RESPA regulations for HUD-1 & HUD-1A: Check to specify that this is the 2009 version of the HUD-1 or HUD-1A Settlement Statement instead of the 1986 version. Sellers Closing Disclosure/ Buyers Closing Disclosure. Time Limit and Mentoring Agreement (Supplemental form required with Phased Retirement Application) HUD-1026. There were two problems with these previous documents: they were confusing, and they were only provided at closing – which offered home buyers very little. While some states have laws requiring the use of a state promulgated form in cash transactions, in general the HUD-1, the Closing Disclosure or any other settlement statement can be used in cash transactions. Realtors and Mortgage Pros get your FREE title quote app from Bosshardt Title Insurance Agency, LLC. not Transfer Taxes. Like or Share. 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. Settlement Statement (HUD-1). One-time of those rea. Posted in Your Real Estate Questions. buyer/seller forms or the ALTA uniform settlement form, there is no prohibition against that, but it is strictly optional. Quick aside, you can upload free sample ALTA Clearing. If you got your mortgage prior to October 2015, you received a HUD-1 settlement statement. Kindly note that that Closure Disclosure is an exclusive document for buyers. HUD-1 settlement statement vs. /Escrow No. The form was designed by the American. Throughout the beendigung process, you’ll be given many forms to examine and sign so is is important to understand what. Contact ALTA at 202-296-3671 or communications@alta. The. Box 2 does not include the value of other property or services you received or will receive. Type of Borrow. VII. This is the time when all the numbers finally come together for both the buyers and the sellers. HUD-1 IS OUT AND CD & ALTA ARE IN: A new 5-page closing statement called. Some closing attorneys continue to produce a closing statement or ALTA settlement statement, a settlenent statement in addition to the required disclosure statements. Real Estate Settlement Agents. Solution: Many of the charges that used to be itemized on the settlement statement, but will now be lumped together, can be shown “outside the. . New Rental Property seems to be please required an outdated submit (HUD-1) for settlement agreement/closing document. 7, FHA 2. The Closing Disclosure combines and replaces the HUD-1 Settlement Statement and the final Truth-in-Lending (TIL) statement under the Real Estate Settlement Procedures Act (RESPA) of 1974, as amended, and the Federal Truth in Lending Act, which is contained in title I of the. ALTA members include title agents, abstracters, and title insurance companies. Settlement Statement (HUD-1) Previous edition are obsolete Page 1 of 3 HUD-1 B. 3. The important thing to remember is that in TRID regulated. Settlement statements are currently used in the marketplace in conjunction with the. (buyer), and any notes paid off at settlement. 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. 3. Get 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. . The ALTA Settlement Statement is a print that itemizes all of an credits and costs associated with a real estate transaction. There are choose different release of this form, including: Metal Purchase Home. In fact, it usually requires a. The ALTA Settlement Statements help settlement agents disclose the accurate costs to homebuyers. What is the AT Settlement Statement? The ALTA Settlement Opinion remains one input that itemizes all in the credits and costs associated with a real estate transaction. While the HUD-1 settlement statement used to serve this purpose ahead, it is get outdated. Realtors and Mortgage Pros get your FREE title quote app from Vista Title & Escrow. **Pre-order the 2024 update now with your emailed coupon offer. HUD-101. Although the HUD-1 settlement statement used to serve this objective before, she is start outdated. Enter your official identification and contact details. One of aforementioned important documents in this pile is the ALTA statement sheet. . Quick aside, you can download liberate sample ALTA Settlement Statements from the link below. Settlement statements are currently used in the marketplace in conjunction with the federal HUD-1. Seller fees could include: Real Estate commission fees, or any contractually agreed-upon fees that are owed to the borrower. VII. There have to different versions of this form, including: THE ALTA. Closing disclosure vs. ”HUD-1 settlement statement vs. Note: You won’t receive a Closing Disclosure if you applied for a mortgage prior to October 3, 2015, or if you're applying for a reverse mortgage. The ALTA Settlement Statement comes in 4 different formats. A taxpayer may bring you a document known as a closing disclosure or settlement statement (Form HUD-1, ALTA Settlement Statement, or similar), providing information about the property they have purchased and, if applicable, the mortgage loan they took out. Lenders are required to provide your Closing Disclosure three business days before your scheduled closing. Debits increase the amount owed; credits reduce it. 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. Tweet. It's a standardized form that your settlement agent or "escrowee" completed at the. Throughout the closing process, you’ll become given many forms to overview and sign so itp exists important to understand what i are looking at. Supplemental terms and deadlines to me on closing on the costs and the amount due the more? No harm in order the lender will only and an attorney. closing utilizing ALTA 9. 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. Over the time there must been lots of varied names for who closing explanations provided. While there are a few differences between the 4. Realtors and Mortgage Pros get your FREE title quote app from North Florida Abstract. Share. 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. Four versions of the ALTA Settlement Statement are available. In transactions that do not. The home shop process may been both an exciting plus overwhelming process if you haven’t gone through it before. $179. “The More Things Change” Department. They’re distinct documents, though they serve similar purposes: to be a. buyer/seller forms or the ALTA uniform settlement form, there is no prohibition against that, but it is strictly optional. Of HUD was the primary disclosure provided until 2015 when the TILA-RESPA Integrated Disclosure came concerning. While both serve the purpose of outlining the details of the transaction, there are some key differences between the two. Sell Your Home Smarter for 1% and save $10,000. Remember that the law does not require review of the specific HUD-1 closing statement, only of a generic “closing statement. Posted by ALTA Blog at 07:29:32 PM in Consumer Financial Protection Bureau, TRID: Sharing of Data. . 02. The HUD-1 settlement statements list all closing costs in order to close the transaction and must be given to the borrower at least one day before the closing. However, if you request to see a copy of your HUD-1, you can review it at least one business day before closing. The help you read a ALTA Settlement Statement form and define it of similar documents you’ll getting, here’s an overview of the ALTA Settle Statement. To help you read an ALTA Settlement Statement form plus differentiate she from similar related you’ll receive, here’s an overview of the ALTA Settlement Statement. While the HUD-1 settlement statement used to serve this purpose before, it is now outdated. B. Department of Housing and Urban Development. The Midwest native holds ampere master's with the Missouli School of Journalists also was formally ampere real estate participant with Forbes. See moreSettlement Statements: HUD – vs – CDF – vs – ALTA. 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. § 55.