Broker Name
The broker name automatically imports from the profile you have set up for yourself as a broker. If you would like a different broker name here, you may edit it to fit your needs.
Yield Spread
Input the dollar amount of the yield spread in this field.
Note: The HUD number and loan amount cannot be modified from this screen. Accessibility of some fields varies by fee line. For example, the Fee Description, Paid To Description, and Paid Outside of Closing (POC) fields may not be accessible.
HUD # (and Service Provider)
This read-only field indicates the HUD-1 line number that the fee will appear on. To edit the service provider for a fee, click the corresponding HUD #. In the new window, type the name of the vendor to which the fee will be paid. When finished, click the OK button to return to the list of fees.
Description
This is the name of the fee. You may edit fee names on lines with an edit field for the description.
%
Certain fees, including Origination and Discount fees, may be entered as percentages of the loan amount. If applicable, input the percentage here.
Plus
Input the fee amount, if any, that is over and above the % amount. This field is accessible only if there is a value in the % field, and its value automatically calculates into the Paid By Borrower field.
POC (Paid Outside of Closing)
This field is available only for certain fees. For fees paid outside of closing, input the respective amount in this field.
Paid By Borrower
Input the fee amount, if any, paid by the borrower. If you have input a value in the % column, this field auto-calculates and may not be edited.
Paid By Other
If a fee is to be paid by someone other than the borrower, enter the amount of the fee in this column. You may then use the Paid By column to specify who is paying the fee.
Paid To
Select whether the fees will be paid to the Broker, Lender, or Other.
Paid By
For fees in the Paid By Other column, indicate who is paying the fee - Broker, Lender, Other, Seller or Proceeds.
APR
If the fee is calculated into the APR, an "X" appears in this read-only space.
Special Instructions for loans with MI Surcharge
On the Impounds Screen:
Once the data on the Mortgage Insurance screen is filled out,
you will be able to navigate to the Impounds screen, scroll down and use the 6th impound line that should
already have the Impound Type set as MI Surcharge with a Description of Surchg/Premium Tax as automatically
filled in by the system.
Go to the Deposited with Lender section and select a HUD No.
In the Policy Premium field, enter the annual amount of the surcharge tax (typically this number never exceeds $20.00).
In the Policy Term field, remove the number 12 and leave it blank, then click on OK.
A pop up window appears with the message "Total disbursements do not equal the premium amount." Click on OK to return to the Impounds screen.
The state surcharge is now displayed as an impound.
On the Fees Screen:
Select a non-APR wild card fee line and label the fee, e.g., FL, KY or WV Surcharge Fee. In the Paid By Borrower column, enter the monthly surcharge amount (typically this is a small number; e.g., $1.00).
The system can now calculate the correct data that needs to populate on the appropriate forms.
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