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What is HUD LITE?

Input settlement charges as either Buyer's or Seller's Expense, and HUD LITE will generate necessary notations and column totals automatically. The software adeptly assigns the correct GFE number for standard entries while also creating entries for the GFE Comparison Page without any hassle. By inputting amounts from the lender's Good Faith Estimate, you can ensure your form is completely set up, ready for generating and printing the Hud-1 Settlement Statement applicable to purchases, new loans, and refinances. Enjoy the convenience of automated entries for the Good Faith Estimate (GFE), and refer to the GFE Quick Start Guide for any needed guidance. The platform guarantees precise calculations and reconciliations for balances related to receipts, disbursements, and net loan proceeds (cash received from the lender). It also automatically compiles a balanced record of deposits and checks while calculating both the Loan Origination Fee and Loan Discount. Any changes made to proration or disbursement dates will prompt recalculations of prorations, loan payoff amounts, and interest due to the lender. Moreover, broker commissions can be entered as either a percentage or a fixed sum, offering even more flexibility. These robust features ensure that the entire process remains efficient and easy to navigate for users. In summary, HUD LITE enhances the settlement process by providing a reliable and user-friendly platform that simplifies complex calculations and documentation.

What is Closinglock?

Closinglock is a secure and all-encompassing platform that aims to enhance the real estate closing process by addressing the risks linked to traditional methods like email and fax, replacing them with encrypted and audited workflows that guarantee the secure handling of wire transfers, payoff statements, documents, and signatures. This cutting-edge solution is tailored for title companies, escrow agents, lenders, and real estate attorneys, offering a SOC 2 Type II-certified portal that utilizes 256-bit AES encryption to combat the widespread issue of business email compromise, which leads to considerable financial damages annually. Besides facilitating secure wire transactions, Closinglock incorporates strong identity verification measures, including identification checks and selfie validation, as well as bank-account and payoff-account verification through collaborations with financial institutions. The platform also features a “Good Funds” payment tool that streamlines earnest money deposits and cash-to-close payments, ensuring that all financial transactions are conducted with the highest level of security and efficiency. Additionally, by replacing obsolete processes with its advanced technology, Closinglock plays a pivotal role in maintaining the integrity of real estate transactions while promoting a more transparent and trustworthy environment for all parties involved.

Media

Media

Integrations Supported

Integrations Supported

RamQuest One
ResWare
SoftPro

API Availability

API Availability

Pricing Information

$179 one-time payment

Pricing Information

Pricing not provided

Supported Platforms

Windows

Supported Platforms

SaaS

Customer Service / Support

Standard Support
Web-Based Support

Customer Service / Support

Standard Support
Web-Based Support

Training Options

Documentation Hub
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training

Company Facts

Organization Name

Alta Star Software

Company Website

www.hudlite.com

Company Facts

Organization Name

Closinglock

Date Founded

2017

Company Location

United States

Company Website

www.closinglock.com

Categories and Features

Mortgage and Loans

Closing Documents
Government Loans
Loan Origination
Refinance Management

Categories and Features

Fraud Detection

Not specified

Real Estate

Not specified

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