ALTA has developed standardized ALTA Settlement Statements for title insurance and settlement companies to use to itemize all the fees and charges that both the homebuyer and seller must pay during the settlement process of a housing transaction.
Settlement statements are currently used in the marketplace in conjunction with the federal HUD-1. T
he ALTA Settlement Statement is not meant to replace the Consumer Financial Protection Bureau‘s Closing Disclosure, which goes into effect on Aug. 1, 2015.
Four versions of the ALTA Settlement Statement are available. –