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You can use the following logic to create a "reverse look up" field. This will allow you to display a text value that lives in the most recent detail record on the master record.
In the current relationship between the two tables, create a summary field of the maximum of the Record ID # field. The following help topic explains summary fields.
In the same relationship, create a look up field for the newly created maximum record ID # summary field. The following help topic explains look up fields.
Create a new relationship between your two tables, but with the master/detail order reversed. In Step 3 of creating the relationship, set the reference field to be the maximum record ID # look up field. The following help topic explains relationships.
In this reverse relationship, create a look up field for the text field whose value you want to bring into the original master record.