The changes are huge and the impact on your institution will be substantial. The transition period ends January 1, 2010 and we have the latest version available now.

The Real Estate Settlement Procedures Act (RESPA) is a consumer protection statute, first passed in 1974. One of its purposes is to help consumers become better shoppers for settlement services. Another purpose is to eliminate kickbacks and referrals fees that increase unnecessarily the costs of certain settlement services. RESPA requires that borrowers receive disclosures at various times. Some disclosures spell out the costs associated with the settlement, outline lender servicing and escrow account practices and describe business relationships between settlement service providers.

The HUD-1 RESPA Settlement Statement automates preparation and printing of the HUD-1 RESPA Settlement Statement forms. This program displays the each HUD-1 form on the screen in a scrollable format. The information is entered from your keyboard as it would be typed on the form itself.  HUD-1 Addendum Page adds Additional Lines. The software does all the math related to the HUD-1 RESPA Settlement Statement; from tax prorations, to interest calculations, to recording fees, loan discounts, aggregate escrow adjustment and more.  All calculations are updated instantly as the data is entered. You can override all calculated results to produce the final output you need.

A cash reconciliation or recapitulation is also prepared. This helps the closing agent be sure that all entries on the statement are properly handled and that money received equals money disbursed, or paid out.  

The HUD-1 RESPA Settlement Statement prints the complete HUD-1 and forms on plain 8 ½ x 11 letterhead paper or 8 ½ x 14 legal size paper with any windows supported printer. Print preview is also available. The resulting printed product has a commercially prepared appearance. Data entered may be stored/saved anywhere on your hard drive or to external diskettes as a .hud file for quick retrieval.  

Additional features include:

• Modified for January 16, 2009 changes
• Closer's Reconciliation Statement
• Sure-store client management system
• Addendum Page for Additional Lines
• Option to print Borrower's closing statement or Seller's closing statement.
• Create and store common lenders and settlement agent names for quick retrieval.
• Option to print separate signature page with two (2) lines for complicated signatures.  
• Easily transport data from one computer to another or across a network.
• Simple tax prorate software built-in.
• Override text on the form itself or set text as default.
• Software displays two dates so you can print, for example, the Settlement Date and the Funding Date.
• Option to create PDF files which can be transmitted electronically or eFax.

All of our software functions on any Windows operating system. The software has been tested on Windows 95, 98, 2000, NT, ME (millennium edition), XP and Windows Vista. The software functions on networks or stand-alone personal computers and is compatible with all printers.

To learn more about to fill out the HUD-1, HUD-1A RESPA forms, click here.

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