Easily Replace Option Field to the Settlement Statement

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How to Replace Option Field to the Settlement Statement

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[Music] hi in this video well be looking at how do you update the option sets and also move the sets within the drop-down menu option sets our fields that have options and a drop-down well have a look at adventureworks and if we look at the relationship type we have a drop-down now in some cases clients will need to update this if they want to add or remove any of these options first we need to go to settings customization customize the system and go into entities since we were looking at the account entity well look into the account entity and well choose fields and one just go down and find the relationship type field and in here here it is field name is called customer type code and its an option set well double click on it at the bottom we have the existing options we can highlight it we can delete an existing option or we can click the plus sign and add an other option bring it down all the way to the bottom and once youve done that click Save and close since we have added a

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What does settlement statement mean in real estate?

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.

What replaced the HUD settlement statement?

Now, for most kinds of mortgage loans, borrowers receive a form called the Closing Disclosure instead of a HUD-1 form. Either form must be reviewed by the borrower before the closing, in order to prevent errors or any unplanned expenses.

What does settlement issues mean in real estate?

What is a settlement? The settlement is the final stage in the home transaction. This is when the ownership of the property will be transferred from the seller to the buyer.

What does a settlement statement tell you?

A settlement statement is a document summarizing all costs owed by or credits due to the homebuyer and seller (or borrower if refinancing). The document also includes the purchase price of the property, loan amount and other details.

What replaces the HUD-1 Settlement Statement and the final TIL disclosure?

The Closing Disclosure combines and replaces the HUD-1 Settlement Statement and the final Truth-in-Lending (TIL) statement. The form mirrors the information provided on the Loan Estimate.

Is a settlement statement the same as a purchase agreement?

PSA Vs. Though they sound similar, a PSA is different from a purchase agreement. PSAs define the terms of the transaction and include the date of closing and other details. Signing a PSA does not complete the sale of the home. Signing a purchase agreement, however, does complete the home sale.

What is a settlement statement for a mortgage?

A form required by federal law that provides disclosures to borrower(s) of the final loan terms and costs of the mortgage loan transaction.

What is the difference between a closing statement and a settlement statement?

While closing disclosures provide information about a borrowers loan, settlement statements do not include loan information. Settlement statements are used for commercial transactions and cash closings.

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Replace Option Field to the Settlement Statement