Point User Guide
123
Disclosures
f
Select who is to make the payment (
Borrower
,
Seller
,
Broker
,
Lender
,
Third Party
, or
Correspondent
) from the
Paid By
dropdown list.
Borrower
is assumed when no option is selected.
g
Specify whether the payment is a prepaid finance charge (PFC), FHA-allowable
(F), or paid outside of closing (POC).
h
For user-defined fees, type the line number or select it from the dropdown list,
enter a description or select a description of the fee from the dropdown list, and
complete the remaining fields.
6
Complete the
Reserves Deposited with Lender
section as described in
Step 5
.
This section contains an itemized list of reserves that the lender requires to be paid in
advance to the impound account, who they are paid to, who pays them, and whether
they are a prepaid finance charge, FHA-allowable, or paid outside of closing. Blank
fields are provided to add user-defined fees.
Use the
Table
buttons to open the table of fees that were defined in the dropdown list
utility for the
Mtg
Insurance
Reserves
and
Taxes
Reserves
fields, or enter the
information manually.
Use the
Aggregate
Adjustment
Table
button to open the
Initial Escrow Account
Setup
dialog box. This dialog box is used to specify funds that are to be deposited
into an escrow (impound) account.
