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Closing Disclosure (CD)Reference GuideHow to add, edit and delete feesTo create a Closing Disclosure, information is entered in Order Entry, Closing Data Entry, and the Closing Disclosure Details screen. Ifonly a Buyer’s or Seller’s Settlement Statement is needed, you do not need to fill out the Closing Disclosure Details screen.Add One Fee per SectionSteps1.Select the Add drop-down list and select a fee. For added convenience, some sections have been separated into multiples byrelevant areas of fee families. Subsections make the fee lists shorter, making it easier to locate fees.2.Click Save & Exit to return to the data entry view.Add Multiple Fees per SectionSteps1.Select the Add drop-down list and select a fee. When the fee pop-up window displays enter data.2.When data is complete for that fee, click the next fee from the Fee drop-down list. An implicit save occurs when another fee isselected via the Fee drop-down list. There is no need to click the Save icon.3.Use the Fee drop-down list to select another fee to add to that same section. The pop-up window changes when the new fee isselected.Delete feesSteps1.Select the fee to remove and click the Delete Line icon. Only 1 fee can be deleted at a time.Edit feesSteps1.To edit a fee, double-click to view the detail screen. Make the change; then click Save & Exit. If the Closing DisclosureDescription field is changed, this should only be changed to reflect its same purpose. Example: Termite Inspection changed toPest Inspection.Note: Most fees listed are those from the Mortgage Industry Standards Maintenance Organization (MISMO). This organization was created to promoteand support the common business interests of the Commercial and Residential Mortgage markets. The country’s largest lenders have indicated they intendto follow these standards.Notes(877) 800-3132 2015 Stewart. All rights reserved. Trademarks are the property of their respectivePage 1 of [email protected] 1, 2015

Closing Disclosure (CD)Reference GuideClosing Disclosure Data EntryFees listed under the Loan Costs and Other Costs section print on page 2 of the Closing Disclosure and are equivalent to page 2 of theHUD. Fees listed under the Summaries of Transactions section print on page 3 of the Closing Disclosure and are equivalent to page 1 ofthe HUD.NotesCan fee descriptions be changed?Fee descriptions can be changed but should only be changed to reflect its same purpose. For example, Termite Inspection can be changedto Pest Inspection.Due to industry standards and the electronic transfer of data on the lenders side, these descriptions must remain similar in nature to the feeselected.If you choose Other fee, this would be equivalent to a blank line and would require a description.NotesWhat line in each section is the total?“D” is the total Loan Costs and is the sum of A, B and C. “I” is the total Other Costs and is the sum of E, F, G and H. “J” is the totalClosing Costs and is the sum of D and I.NotesFees listed in A Origination Charges are equivalent to those fees you enter on the HUD in the 800 section. E Taxes and OtherGovernment Fees is where you will go to enter the recording fees. F Prepaids are equivalent to the 900 section on the HUD. G InitialEscrow Payment At Closing is the Reserves and is equivalent to the 1000 section on the HUD. There are 4 “H” subsections:Commissions, Premiums, Title Charges and Additional Charges. Additional Charges are equivalent to the 1300 section on the HUD.Notes(877) 800-3132 2015 Stewart. All rights reserved. Trademarks are the property of their respectivePage 2 of [email protected] 1, 2015

Closing Disclosure (CD)Reference GuideTitle InsuranceTitle Insurance is located in the Loan Costs and Other Costs sections. You can access this from the Title Charges data entry group orfrom the Closing Disclosure data entry view in the Closing data entry group.The Title Insurance screen for the Closing Disclosure has two tabs, one for the Lender’s Policy and one for the Owner’s policy.When Simultaneous Lender’s is selected in the Rate Based On drop-down list, most locations previously disclosed a reduced rate for theLender’s Policy. CFPB states that the Closing Disclosure will no longer show this discounted price. It will show the full loan premium knownas True Value. The Owner’s Policy premium will calculate the difference between the combined premium totals and the full loan premium.If Simultaneous Owner’s, Lender’s Only, or Owner’s Only is selected as the Rate Based On then True Value is irrelevant.For example, if the Owner’s Policy full premium is 1,000 in a particular state and a simultaneous issue fee for a Lender’s Policy in thatstate is 100, the total of both premiums is 1,100. With a True Value Calculation, if the full premium for the Loan Policy in the sametransaction is 650, the Owner’s Policy will populate with 450. Note that the total premium is the same. .Note: If the buyer or seller will pay less or more, make an adjustment in the Summaries of Transactions section either in the K/M. Adjustments PaidBy Seller or L/N. Adjustments Unpaid by Seller. K/M is a debit to the buyer and a credit to the seller and L/N is a credit to the buyer and a debit to theseller.EndorsementsEndorsements will not be itemized on the Closing Disclosure and will only show a total. A new Description field has been added to giveyou the ability to type in a short description of the endorsements that are included in the premium. Endorsements can be itemized on theStewart Settlement Statements.Notes(877) 800-3132 2015 Stewart. All rights reserved. Trademarks are the property of their respectivePage 3 of [email protected] 1, 2015

Closing Disclosure (CD)Reference GuideSummaries of TransactionsThe Summaries of Transactions section prints on page 3 of the Closing Disclosure and is equivalent to page 1 of the HUD. Theappearance is very similar to page 1 of the HUD where “K” is a buyer debit and “M” is seller credit, “L” is a buyer credit and “N” is sellerdebit.Where do I enter the Earnest Money, Seller’s payoff, and Borrower’s payoff?Earnest Money is located under L/N. Paid By or on Behalf of Borrower and the description is called Deposit and cannot be changed. Toenter a payoff for a purchase, choose N. Due from Seller at Closing – First Position Mortgage Lien. To enter a payoff for a Refinance,choose K/M Due at Closing – First Position Mortgage Lien - Buyer.How many lines do I have available?Like page 1 of the 2010 HUD today, there is a set amount of lines. This Closing Disclosure is different because behind the scenes it willtake any overage of lines needed from other sections. If those lines in each section are used, it will no longer have page 2, instead will bereplaced with pages 2a and 2b. Page 2a will contain fees entered in the Loan Costs section and page 2b will be fees that were entered inthe Other Costs section.Fees that appear in Summaries of Transactions work a little different. When the lines in this section are full, they still print on page 3;however the remaining fees will print on an addendum.Notes(877) 800-3132 2015 Stewart. All rights reserved. Trademarks are the property of their respectivePage 4 of [email protected] 1, 2015

Closing Disclosure (CD)Reference GuideClosing Disclosure HeaderThere are 3 columns: Closing Information, Transaction Information, and Loan Information. The majority of the Closing Disclosure headeron page 1 comes from Order Entry.In the Closing Information column, The Date Issued is entered in the Issued, Closing, Proration, Disbursement Dates screen.Closing Disclosure AddendumCFPB rule states that only 2 Borrower’s, 2 Sellers, 1 Property, and 1 Lender/Creditor can print on the header. The remaining will carry overto the Closing Disclosure Addendum. The addendum will contain the remaining Borrower’s, Seller’s, Property, and signature lines.AddressThe address will print on the Closing Disclosure, however if an address does not exist, by design AIM will pull the data from the nextProperty tab (Abstract, Subdivision, Condominium, etc.). This will not pull from Brief Legal.Note: If a property does not exist in Order Entry, CFPB requires a state and zip code.The Loan Type, Loan ID#, and MIC# all come from the Lender party in the Parties data entry group.In the Loan Information column, the Loan Term, Purpose, and Product come from the Loan Terms tab within the Closing DisclosureDetails screen in the Closing data entry group.Notes(877) 800-3132 2015 Stewart. All rights reserved. Trademarks are the property of their respectivePage 5 of [email protected] 1, 2015

Closing Disclosure (CD)Reference GuideClosing Disclosure Details – Loan Terms TabTo access the Closing Disclosure Details screen, click the Closing Disclosure Details iconThere are 5 tabs to complete when preparing a Closing Disclosure.Loan Terms and Projected Payments print on page 1 of the Closing Disclosure. Calculating Cash to Close prints at the bottom of page1 and top of page 3. Loan Disclosures prints on page 4 and Loan Calculations/Other Disclosures prints on page 5.Note: The Lender/Creditor should provide instructions based on a Loan Estimate, Closing Disclosure or Closing Instructions.Loan AmountThe loan amount can be changed in either the Parties group or bydouble-clicking on the fee in the Closing Disclosure data entry view.Indicate if this amount can increase after closing and how high anduntil what year.Loan InformationComplete the loan terms, Product and Purpose. If Refinance isselected as Purpose, a checkbox appears to the right to indicate if aIf selected, thisRefinance Closing Disclosure is needed.document will appear as a new document to print in print options.Interest RateIn this section enter the interest rate for the loan. Indicate if it couldincrease after closing and if so how high and how often. If Yes isselected that the interest rate can increase after closing, anAdjustable Interest Rate Table displays (AIR).Principal & InterestEnter the Principal & Interest amount and indicate if this canincrease. Enter the year it will adjust and the year it will start. Enterhow high it can go and in which year and whether or not it includesinterest only and no principal until a specific year. If Yes is selectedthat the Principal & Interest can increase, an Adjustable PaymentTable displays (AP).Prepayment PenaltyIndicate whether or not there is a prepayment penaltyBalloon PaymentIndicate if there is a balloon payment what will need to be paid andat what year it’s due.(877) 800-3132 2015 Stewart. All rights reserved. Trademarks are the property of their respectivePage 6 of [email protected] 1, 2015

Closing Disclosure (CD)Reference GuideClosing Disclosure Details – Projected Payments TabTo access the Closing Disclosure Details screen, click the Closing Disclosure Details iconThere are 5 tabs that will need to be completed when preparing a Closing Disclosure.Loan Terms and Projected Payments prints on page 1 of the Closing Disclosure. Calculating Cash to Close prints at the bottom of page1 and top of page 3. Loan Disclosures prints on page 4 and Loan Calculations/Other Disclosures prints on page 5.Note: The Lender/Creditor should provide instructions based on a Loan Estimate, Closing Disclosure or Closing Instructions.Payment CalculationsEnter the years (Range) for the Principal & Interest, Mortgage Insurance and Estimated Escrow. To add another range, click the AddRange icon. Only 4 can be added. To remove a range, click the Remove Last Range icon.Estimated, Taxes, Insurance & AssessmentsSelect all those that apply, whether or not it is in escrow and the amount. The amount is automatically totaled and appears in the firstcolumn. When Other is selected, choose the fee from the drop-down list below then click Add. To remove, select the item to remove, thenclick Remove.Notes(877) 800-3132 2015 Stewart. All rights reserved. Trademarks are the property of their respectivePage 7 of [email protected] 1, 2015

Closing Disclosure (CD)Reference GuideClosing Disclosure Details – Calculating Cash to Close TabTo access the Closing Disclosure Details screen, click the Closing Disclosure Details iconThere are 5 tabs that will need to be completed when preparing a Closing Disclosure.Loan Terms and Projected Payments prints on page 1 of the Closing Disclosure. Calculating Cash to Close prints at the bottom ofpage 1 and top of page 3. Loan Disclosures prints on page 4 and Loan Calculations/Other Disclosures prints on page 5.Note: The Lender/Creditor should provide instructions based on a Loan Estimate, Closing Disclosure or Closing Instructions.Calculating Cash to CloseIn the Loan Estimate column, enter the amount rounded to the nearest dollar. Amounts from the Loan Estimate should be compared tothe Final amounts determined at consummation which are automatically calculated values through the Closing Disclosure.The Final column is automatically calculated based on the fees entered. Indicate if any of the amounts have changed in the Did thischange? column.Total Closing Costs (J) equals the sum of D and I.Closing Costs Paid Before Closing equals Buyer/Borrower POCamounts.Closing costs that were financed.Down Payment/Funds from Borrower equals the difference between theSales Price and the Loan Amount.Deposit equals any Earnest Money/deposits received.Equals the available funds for the Borrower.Any seller credits that were given.Any adjustments and other credits that were given.Cash to Close is automatically calculated and displays on page 1 underCosts at Closing/Cash to Close.Notes(877) 800-3132 2015 Stewart. All rights reserved. Trademarks are the property of their respectivePage 8 of [email protected] 1, 2015

Closing Disclosure (CD)Reference GuideClosing Disclosure Details – Loan DisclosuresTo access the Closing Disclosure Details screen, click the Closing Disclosure Details iconThere are 5 tabs that will need to be completed when preparing a Closing Disclosure.Loan Terms and Projected Payments prints on page 1 of the Closing Disclosure. Calculating Cash to Close prints at the bottom of page1 and top of page 3. Loan Disclosures prints on page 4 and Loan Calculations/Other Disclosures prints on page 5.Note: The Lender/Creditor should provide instructions based on a Loan Estimate, Closing Disclosure or Closing Instructions.Loan DisclosuresAssumption - Select the radio button that indicates whetheror not the lender will allow assumption on the loan.Partial Payment - Select the radio button that best describes the terms ofpartial payments to the loan.Demand Feature - Select the radio button that indicateswhether or not there is a demand feature on the loan.Security Interest - In the Security Interest drop-down list, select all itemsyou are granting security interest in. To remove your selection, click the Xbutton.Late Payment – Complete the steps below:Steps1.Enter the number of days before a late payment ischarged to the loan amount by the lender.2.To enter a percentage of interest, select the radiobutton % of monthly principal and interest amount,and enter the percentage.Or to enter a dollar amount of interest, select theradio button beside the blank textbox and type in theamount.Negative Amortization (Increase in Loan Amount) - Selectthe radio button that best describes the increase to the loanamount, including negative amortization amount.Note: Select Other to enable the other description textbox. Type a briefdescription of the other security interest not listed in the drop-down list.Escrow Account - Select the radio button that best describes whether ornot the loan will have an escrow account.Note: If you choose will not have an escrow account because, select the radiobutton that best describes the reason why you will not have an escrow account onthis loan.Notes(877) 800-3132 2015 Stewart. All rights reserved. Trademarks are the property of their respectivePage 9 of [email protected] 1, 2015

Closing Disclosure (CD)Reference GuideClosing Disclosure Details – Loan Calculations/Other DisclosuresTo access the Closing Disclosure Details screen, click the Closing Disclosure Details iconThere are 5 tabs that will need to be completed when preparing a Closing Disclosure.Loan Terms and Projected Payments prints on page 1 of the Closing Disclosure. Calculating Cash to Close prints at the bottom of page1 and top of page 3. Loan Disclosures prints on page 4 and Loan Calculations/Other Disclosures prints on page 5.Note: The Lender/Creditor should provide instructions based on a Loan Estimate, Closing Disclosure or Closing Instructions.Loan CalculationsTotal of Payments – Enter the dollar amount total the borrower will have paid after making all payments of principal, interest, mortgageinsurance, and loan costs as scheduled.Finance Charge – Enter the dollar amount the loan will cost the borrower.Amount Financed – Enter the loan amount that is available after paying the upfront finance charge.Annual Percentage Rate (APR) – Enter the Costs over the loan term, expressed as a rate (percentage). This is not the interest rate.Total Interest Percentage (TIP) – Enter the total amount of interest the borrower will pay over the loan term as a percentage of the loanamount.Other DisclosuresLiability after Foreclosure – If the lender forecloses on this property and the foreclosure does not cover the amount of unpaid balance onthis loan; select the radio button that best describes whether or not state law will protect the buyer in the case of foreclosure.Notes(877) 800-3132 2015 Stewart. All rights reserved. Trademarks are the property of their respectivePage 10 [email protected] 1, 2015

Note: If the buyer or seller will pay less or more, make an adjustment in the Summaries of Transactionssection either in the K/M. Adjustments Paid By Seller or L/N. Adjustments Unpaid by Seller. K/M is a debit to the buyer and a credit to the seller and L/N is a credit to the buyer and a debit to the seller.