Q:\David-L\Training\2017 TRAINING\2015 Itemization- How to Complete.docx Last Updated: 8/31/17 ld
COMPLETING THE 2015 ITEMIZATION SCREEN
Go to the 2015 Itemization Tab under Forms (refer to chart for what fee
lines to input fees). If you chose the correct program and Closing cost
program, you should see come fees already defaulted correctly
You need to add and/or correct any fees to the itemization screen that
apply to this loan
o 704- Used for Real Estate Compliance Fee
o 800 Section: This section contains all of our origination fees as well
as fees for required services that we do not allow shopping on
Lender Credits
Use Line 802b (origination credit) if you want to show a
lender credit on the LE
Discount Points
Use Line 802e(origination points) to disclose any discount
points
Q:\David-L\Training\2017 TRAINING\2015 Itemization- How to Complete.docx Last Updated: 8/31/17 ld
o 900 Section: This section contains fees for daily interest, upfront MI
Premiums, Upfront Homeowners or Flood insurance premium,
Special Assessments due, etc.
o 1000 Section: This section is for our escrow reserves.
o 1100 Section: This section is used for Title Company Fees(including
owners title)
o 1200 Section: This section is used for Recording fees and Transfer
taxes
o 1302-1309 section: This section used for additional services required
that are shoppable
o 1310-1314: Used for other fees not required by lender (Home
Inspections, Home Warranty, etc.)
You can complete the Fees from by clicking on the arrow to choose the fee
name from the drop down list (no free hand typing of fees is allowed), type
in payee name and fee amount.
If you show fee on seller side, still shows on LE as it will be deemed a seller
credit (only do this on VA loans for unallowable fees). Do lump sum credit
on the 1003 details of transaction for seller concessions
Paid by box: Don’t need to complete if borrower paid as it automatically
marks as borrower
Q:\David-L\Training\2017 TRAINING\2015 Itemization- How to Complete.docx Last Updated: 8/31/17 ld
You can also click on the button to the left of the fee number to open up the Individual
Fee box.
Within that box you can make changes to show things as paid by borrower, paid by
seller, POC, can shop for, did shop for, paid by lender, etc. It also shows you WHAT
SECTION that fee will show up on both the Loan estimate and the Closing Disclosure
Q:\David-L\Training\2017 TRAINING\2015 Itemization- How to Complete.docx Last Updated: 8/31/17 ld
Important Items to Know:
o Taxes Coming due within 30 days of closing- Put on line 907 under Escrow for
Upcoming Taxes Due as it will not work under the escrow set up based on first
payment date being after the taxes are due
o Reserves(1000 section)- You need to click on the AGGREGATE SETUP and ensure
the following:
You have the correct due dates listed and you have 2 under the cushion
Q:\David-L\Training\2017 TRAINING\2015 Itemization- How to Complete.docx Last Updated: 8/31/17 ld
Title Fees Section(1100)- We currently disclose Attorneys Title for all our
Title fees. When disclosing the initial Loan Estimate, it is important that
you do NOT check the “Did Shop For” button. System is set up to mark
these with only “Can shop For” button checked at initial disclosure
Q:\David-L\Training\2017 TRAINING\2015 Itemization- How to Complete.docx Last Updated: 8/31/17 ld
Seller Obligated Fees: If any fee is listed as seller obligated, THAT FEE WILL NOT PRINT
ON THE LOAN ESTIMATE. Beware of this. Normal seller obligated fees would be for
transfer taxes or inspections that may be required to transfer the property BUT ARE
NOT REQUIRED BY THE LENDER AS A CONDITON OF APPROVAL. Do not mark fees
such as pest inspections as seller obligated if they are a requirement of our loan.
Q:\David-L\Training\2017 TRAINING\2015 Itemization- How to Complete.docx Last Updated: 8/31/17 ld
Other Services added that you can shop for
o If you are adding an additional service that we require that is shoppable (such as
pest inspection, foundation inspection, well and septic, etc… you must add a
SERVICE PROVIDER to the Settlement Service Provider List Page located under
FORMS
o Click on the Paper with the Plus sign icon to add a service provider.
Once you click on it, a 2
nd
provider line will open up and be
highlighted
Q:\David-L\Training\2017 TRAINING\2015 Itemization- How to Complete.docx Last Updated: 8/31/17 ld
o Click on the phone book next to the service category and pick the service you are
adding.
Q:\David-L\Training\2017 TRAINING\2015 Itemization- How to Complete.docx Last Updated: 8/31/17 ld
o If your provider is on the list, double click the name. it will take you back
o You must scroll down the page to enter the name of the service that will go on
the service provider list. Click save.
Q:\David-L\Training\2017 TRAINING\2015 Itemization- How to Complete.docx Last Updated: 8/31/17 ld
Tax Proration Charges and other Credits
o If you input other credits on the 1003 page 3 Section I other than EMD or seller
concessions,(tax proration charges or credits) it will pull to the itemization as well as
the loan estimate; HOWEVER, if you are doing a refinance where an ALT LE is used,
there is NO Adjustments and Other Credits on the LE and therefore you will need to:
Create a Liability for the credit (such as mip credit) on page 2 of the 1003, Check
that it will be paid off and show the payoff amount as a NEGATIVE number.
Below screen is for refinances where you have additional credits you want to show
Q:\David-L\Training\2017 TRAINING\2015 Itemization- How to Complete.docx Last Updated: 8/31/17 ld
When you are finished, it is best to review the Loan estimate
o At the top of the itemization screen, there is a ribbon that can easily
take you to the pages of the LE or CD
Click on any page of the LE and click on the print icon on top right hand
corner
Q:\David-L\Training\2017 TRAINING\2015 Itemization- How to Complete.docx Last Updated: 8/31/17 ld
Preview all pages of the Loan Estimate to ensure all fields and fees are
completed accurately. Once done, save and close.
