Alta Settlement Statement

Draft Balanced ALTA Settlements in Minutes

12 minutes with CaseMark

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12 minutes with CaseMark

What you'll need

Purchase and Sale Agreement
Title Commitment
Loan Documents

SOC 2 Type II · HIPAA compliant · $5 free credit

Workflow

Overview

CaseMark's ALTA Settlement Statement skill automates the preparation of mathematically balanced closing statements for U.S. real estate transactions. By cross-referencing your purchase agreement, title commitment, loan documents, and payoff statements, it allocates every debit and credit between buyer and seller with precision. The result is a professionally formatted, ALTA-compliant settlement statement ready for closing review.

Preparing ALTA Settlement Statements manually requires painstaking cross-referencing of purchase agreements, title commitments, loan documents, and payoff statements. A single miscalculation in prorations, per diem interest, or fee allocation can delay closings, create liability, and erode client trust. The process is time-intensive and error-prone, especially with multiple liens and complex proration scenarios.

CaseMark automates the entire settlement statement drafting process by extracting figures from your uploaded closing documents, calculating prorations and per diem interest, and allocating costs according to your purchase agreement terms. Built-in balance verification ensures that both buyer and seller columns reconcile before output, giving you a closing-ready document you can review and finalize with confidence.

How it works

1. Upload your purchase agreement, title commitment, loan documents, and payoff statements
2. AI extracts key figures and calculates prorations, payoffs, and fee allocations
3. Review the balanced ALTA Settlement Statement with itemized buyer and seller columns
4. Export the finalized statement in your preferred format (DOCX, PDF)

What you get

Header Block with Settlement Details
Seller's Transaction (Credits, Debits, Net Proceeds)
Buyer's Transaction (Debits, Credits, Cash Due)
Proration Schedule
Balance Verification Summary

What it handles

Mathematically balanced buyer and seller columns with automatic balance verification
Proration calculations for taxes, HOA dues, and prepaid items based on closing and disbursement dates
Payoff integration with per diem interest calculations for existing mortgages and liens
Complete lender fee and prepaid item allocation including escrow reserves
Commission splits, transfer taxes, and recording fee allocation
Cross-referencing against title commitment, loan documents, and purchase agreement

Required documents

Purchase and Sale Agreement
The executed purchase agreement containing sales price, earnest money, seller concessions, and cost allocation terms
.pdf, .docx
Title Commitment
Title commitment showing premiums, endorsements, and exception items requiring payoff
.pdf, .docx
Loan Documents
New loan documents including loan amount, lender fees, origination charges, and prepaid item requirements
.pdf, .docx

Supporting documents

Payoff Statements
Existing mortgage and lien payoff statements with per diem interest rates and good-through dates
.pdf, .docx
Tax Records
Current year property tax amount, payment status, and last paid date for proration calculations
.pdf, .docx
HOA Documents
HOA dues schedule, transfer fees, special assessments, and estoppel certificates
.pdf, .docx
Commission Instructions
Brokerage commission agreement with total amount and listing/selling agent split
.pdf, .docx

Why teams use it

Eliminate manual calculation errors with automated balance verification and proration math

Reduce settlement statement preparation time from hours to minutes

Ensure compliance with ALTA standards and consistent formatting across all closings

Cross-reference multiple source documents automatically to catch discrepancies before closing

Questions

How does CaseMark ensure the settlement statement balances?

CaseMark automatically enforces ALTA balance verification rules: seller credits minus debits must equal cash to seller, and buyer debits minus credits must equal cash from buyer. Any discrepancies are flagged before the final output is generated.

Can it handle proration calculations for taxes and HOA dues?

Yes. CaseMark calculates prorations based on your closing and disbursement dates, accounting for whether taxes are paid in arrears or advance. HOA dues, special assessments, and transfer fees are also prorated and allocated per your purchase agreement terms.

Does this replace a HUD-1 Settlement Statement?

The ALTA Settlement Statement is the industry-standard successor to the HUD-1 for most residential and commercial closings. CaseMark generates a fully compliant ALTA format that satisfies current closing requirements and mirrors the structure title companies and lenders expect.

What if there are multiple payoff liens or mortgages?

CaseMark handles multiple existing mortgages, second liens, judgment payoffs, and other encumbrances. Each payoff is itemized with per diem interest calculations through the disbursement date, ensuring accurate seller-side debits.

Can I customize which costs are allocated to buyer versus seller?

Absolutely. CaseMark follows the cost allocation terms in your purchase agreement by default, but you can review and adjust any line item allocation before finalizing the statement.

How long does it take to generate a settlement statement?

CaseMark typically generates a complete, balanced ALTA Settlement Statement in approximately 10-12 minutes, compared to the hours of manual calculation and cross-referencing traditionally required.