HUD 2010 with Good Faith Estimate User Manual Version 1.3.2
Contents
1. A FIDE LITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development A screen shot of the screen that is titled You have selected a HUD HUD1A for printing displays the new question What document will be used at closing 2010 HUD HUD_ or No HUD_ as option 5 4 GOOD FAITH ESTIMATE SCREENS There are 2 new Good Faith Estimate GFE screens the first is the Comparison screen displaying Categories and related charges the second is Loan Terms There will be a set of GFE screens for each Lender associated to the Order These screens are used to enter the information from the Good Faith Estimate that the Lender provides to the Buyer so that the GFE document can be printed from TEAM with the HUD 2010 The screen will display by selecting the Next key on any RESPA Preparation screen The GFE Comparison screen will always display first when the user is coming from the RESPA Preparation screen Users will be allowed to exit without entering information on either GFE screens The first time on the GFE Comparison screen the HUD column will be populated using the information entered in the RESPA Preparation screens for lines with a category The Next key will store the GFE screen information to new tables If user selects the GOLD QUIT key then nothing is saved The page down key and page up key are used to move through multiple pages of the GFE Comparison screen If the user selects the Next key the information w2. HUD line 801 on the new HUD description has been changed to Our Origination charge and gets mapped to line 801 from the RESPA Preparation screen This line is an example of where the amount has been moved from the column to the description area HUD line 802 on the new HUD description has been changed to Your credit or charge points for the specific interest rate chosen and gets mapped to line 802 from the RESPA Preparation screen Note If POC the Payee for line 802 will be on an overflow line on the supplemental page because the hard coded description on line 802 is so long HUD line 803 on the new HUD is new with a description of Your adjusted origination charges and is the sum of HUD line 801 HUD line 802 The payees from lines 801 and 802 will print separated by a HUD line 804 on the new HUD is the Appraisal Fee and gets mapped to line 803 from the RESPA Preparation screen HUD line 805 on the new HUD is the Credit Report and gets mapped to line 804 from the RESPA Preparation screen HUD line 806 on the new HUD is the Tax Services and gets mapped to line 808 from the RESPA Preparation screen HUD line 807 on the new HUD is the Flood Certification and gets mapped to line 809 from the RESPA Preparation screen HUD line 808 on the new HUD is the overflow line and gets mapped to the sum of SETTCHG L type on the supplemental page which is line 805 806 807 810 811 812 from the RESPA Preparation screen
3. If UW title percent pink and UW end percent brown are both not entered and user selects lt TAB gt key they will move to the 1200 section screen The new screen will display all items from the 1100 Respa Prep screen detailing on a separate line each item brought in from Billing It will default the Billing screen policy indicator OP 1 OP2 LP1 or LP2 for all amounts mapped to the 1108 line The buyer and seller column on the pop up is only for display users will not be able to change the information in this column Users will be able to add delete or change the policy indicator to OP1 OP2 LP1 LP2 or blank If the user leaves the policy indicator blank the amount will not be included in the total to be split as will be the case for all items not policy or endorsement premiums Instead of entering a percent for the underwriter split the user can enter a dollar amount on the RESPA Preparation split line The agent portion on the bottom of the screen will equal the total items indicated as premiums minus what the user entered for the underwriter If there is only a single percent split and the user correctly codes all the policies and endorsements in Online Billing to line 1108 and has no miscellaneous endorsements in other lines the pop up will be complete when it comes up and the user can just press Next If there are endorsement premiums in other lines they will need to indicate OP1 OP1 LP1 or LP2 in the policy indicator column on
4. A FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development If an asterisk is entered the verbiage Paid by or through draws from the principal limit will be automatically printed under the Total monthly amount owed including escrow account payments line Also an X will be placed in the statement You have an additional monthly escrow payment Function Keys The Loan Terms screen will display one function key on the bottom of the screen gt The RESPA10 function key When user selects this function key the information will be stored and will be directed back to the first page which is section 700 on the RESPA Preparation screen 5 GFE DOCUMENT 5 1 PRINTING INFORMATION The GFE document will automatically be printed with the HUD after the second page of the HUD So it will be the third page of the HUD and will be printed before the supplemental page A GFE document will be printed for each lender If no information exists for the GFE no data was entered on the screens the variable fields will be blank on the document No signatures will be printed on the Good Faith Estimate document 5 2 CATEGORY SECTION The information entered in the category section of the GFE screens will be printed line for line in the same order on the GFE document including the Tolerance Adjustments Totals will print on the GFE document for Category 1 and Category 2 In addition Category 2 will have th
5. Total Real Estate Broker Fees gt HUD line 704 is now a blank line and gets mapped to line 704 and line 705 from the RESPA Preparation screen The description is a variable field and if amounts exist in both lines 704 and 705 then list both descriptions and separate the descriptions by a The amount is the sum of these 2 lines The description from the RESPA Preparation lines Other Sales Agnt Chgs To and or Add l Comm To along with the payee will print on line 704 700 TOTAL REAL ESTATE BROKER FEES PAID FROM Division of Commission line 700 as tolows BORROWER S 3 8 RESPA 800 SECTION Section 800 changes for RESPA Preparation screen gt Tax Service and Flood Certification are now hardcoded on the 2010 HUD document and the new RESPA screen On the original RESPA screens the user would add this information to one of the blank lines To ensure that the Tax Service and Flood Certification amounts get printed to the correct line numbers on the new HUD form they need to be stored to preset fields in the database These two fields will now display for the user on the screen Snap shot of new RESPA10 800 Section L Settl HUD 2010 USER Manual V1 3 2 doc Page 12 of 38 03 10 10 A FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development Description of changes in the 800 section of the HUD 2010 gt gt The new HUD document does not have as many lines as the old HUD
6. 01 10 GFE Screens 03 01 10 6 Closing Statements 03 01 10 7 Appendix 03 01 10 3 11 RESPA 1100 Sect 03 10 10 CPerry 3 1 Page 1 Notes 03 10 10 CPerry 4 GFE Category Section 03 10 10 CPerry 3 2 Page Notes HUD 2010 USER Manual V1 3 2 doc Update in the Totals Footer section changed the calculation for increase between GFE and HUD charge amts for category 2 Able to change category number to 2 3 or blank Info on 1300 category number to 2 3 or blank and how the charges display on the screen Category number can be changed valid numbers are 2 and 3 Display for section 900 Removed hardcoded Pest Inspections and Survey Also removed the and moved payee to left one character Appendix was renumbered was 6 now 7 An updated HUD mapping document was added due to changes for 1109 seller box Allow 100 for Underwriter or Agent split Eagle amp stars HUD logo replaces Equal Housing Opp logo 800 section user can modify free formatted descriptions Signature block will print on supplemental page Page 3 of 38 03 10 10 A FIDE LITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development 1 OVERVIEW The U S Department of Housing and Urban Development has issued long anticipated mortgage reforms that will help consumers to shop for the lowest cost mortgage and avoid costly and potentially harmful loan offers HUD will require that lenders and mortgage brokers provide consumers with a standard Go
7. 9RESPA 900 SECTION AR RE RE EE N EE keii 14 3 10 RESPA 1000 SEC TION RR EE EE EE N 15 3 11 RESPA 1100 SECTION MR OE OE RE EE ER NN 18 3 11 1 New Underwriter Agent and Owner Lender split screen see ee cece AA Ge AA ee RA Ge AA ee ee ee 19 3 12 RESPA 1200 SECTION MR OE OE OE RE EN 25 3 13 RESPA 1300 SEC TION MR EE RE OE EE ER N aay 27 4 GOOD FAITH ESTIMATE SCREENS oes os esse as esse ee oe ees 31 5 GEE DOCUMENT sasie soe SE es Ge Se ed EG ee ed gis dae od Eed 37 5 APRINTING INFORMATION ER AE EN ORE OE RE OR ER EE 37 5 2CATEGORY SECTION KA EE OR a NR AE RE RO ads 37 S3ILOAN TERMS SEC MON ER OR OK OR N EE EE OE REK 37 6 CLOSING STATEMENTS sesse ss s kase es dis de Nek GN eed ENE Es AE N Ge GN N GES GEN SEA 38 7 APPENDE esse sees es es ees ees ee Gee ee ee Ee n ee ee ee ee ee ee ee ee ee 38 7 1Mapping of HUD 2010 to Current HUD ees dese ee ee se ee cence reece ee Ge ee scenes ee ke Ge AA ee ee ee kaa AA Ge ee ee ee AA Ge AA ee Ena 38 7 2Mapping of GFE line numbers to HUD and Respa Preparation uses eds ee se se ee ee ee ee ke de ee ee ee ee ee AA Ge ee ee ee 38 HUD 2010 USER Manual V1 3 2 doc Page 2 of 38 03 10 10 FIDELITY NATIONAL FINANCIAL MODIFICATIONS for Release 3 Date B Section FNF Technology Solutions Chicago TEAM EDI Development Update 02 26 10 CPerry GFE screens 02 26 10 CPerry 3 13 RESPA 1300 Section 02 26 10 CPerry 4 GFE Category Section 03 01 10 CPerry 3 9 RESPA 900 Section 03
8. Estimate Comparison will display two function keys on the bottom of the screen gt The first function key is the RESPA10 function key When user selects this function key the information will be stored and will be directed back to the first page which is section 700 on the RESPA Preparation screen gt The second function key is the REFRESH function key When this function key is selected all information on the GFE comparison screen will be updated by rereading the RESPA tables Any changes made to the RESPA Preparation will be reflected on the GFE Comparison screen for the lender including the description category POC and buyer column amounts Information entered by the user for the GFE column will be erased The refresh key will only refresh the information for the lender the user is working on Note the Loan Terms screen will not be included in the refresh Loan Terms Screen The Loan Terms screen for Lender 1 will display when the user hits Gold page down key from the GFE Comparison screen The header section will be the same as what is listed on the GFE Comparison screen The user will enter the information in this screen from the Summary of your loan section of the GFE the Buyer receives from the Lender The questions are in the same order as on the GFE document received from the Lender Navigation and validation as for dates are the same as the Respa Prep screens If the user initially selects Yes to any of the questions on th
9. Preparation screen line 1101 The out of column total is only the buyer charges for 1102 o Seller charge for 1102 will be displayed in the seller column and not totaled into 1101 Seller total gt New HUD line 1103 Owner s title insurance gets mapped to the new RESPA Preparation 1100 pop up screen owner s premium It includes title and endorsement premiums o The name of payee will print next to Owner s title insurance to The name of payee will pull from the RESPA Preparation screen under section 1100 from the Owner s Coverage line The user will enter the payee on the description line that is next to the enterable amount on the Owner s Coverage line The payee entered on the description line will then get pulled on the HUD page 2 line 1103 gt New HUD line 1104 Lender s title insurance gets mapped to the new RESPA Preparation 1100 pop up screen lenders premium It includes title and endorsement premiums o The name of payee will print next to Lender s title insurance to The name of payee will get pulled from the RESPA Preparation screen under section 1100 from the Lender s Coverage line The user will enter the payee on the description line that is next to the enterable amount on the Lender s Coverage line The payee entered on the description line will then get pulled on the HUD page 2 line 1104 gt New HUD line 1105 Lender s title policy limit gets mapped to RESPA Preparation line 1109 Lender s c
10. TAB gt key once To jump from Category field back to buyer amount field use lt TAB gt key twice To jump from POC field back to buyer amount field use lt TAB gt key once See green right arrow s Note Only buyer amount field has both category and POC fields whereas seller amount field has only POC field Some buyer amount fields have category fields but every buyer and seller amount fields both have POC fields HUD 2010 USER Manual V1 3 2 doc Page 10 of 38 03 10 10 A FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development RESPALO RESPA PREPARATION MODIFY Escrow Number 92030 BRIAN2009 001 BLG Order Number 02030 BRIAN2009 02326 L Settlement Charges Continued 800 800 Items Payable in Connection With Loan Loan Net Funded N Loan Origination Fee 10 000 to mt EEN Loan Discount 1 000 to from GFE 2 1 _ Appraisal Fee to from GFE 3 2 Credit Report to Eg from GFE 3 2 Lender s Inspection Fee to Licensed Inspection Mortgage Ins Application Fee to CIT Assumption Fee to Licensed Assumption Tax Service to Tax Transfered from GFE 3 Flood Certification to Flood Insurance from GFE 3 Line 810 Line 811 Line 812 Po IMS Tho No Im 1400 TOTAL SETTLEMENT CHARGES enter on lines 103 Section J and 502 Section K 6 765 90 10 006 075 50 303 603 CASH X FROM TO BORROWER CASH FROM X To SELLER 99 954 571 50 88 958 773 02 lt 5 gt RESPAB lt L gt LINE lt B gt BILLING l
11. Te 7 2 Mapping of GFE line numbers to HUD and Respa Preparation TE HUD 2010 USER Manual V1 3 2 doc Page 38 of 38 03 10 10
12. The seller charges shown in this RespaPrep screen shot must be totaled and moved by the user to the 200 and 500 sections If left as shown they will print in the shaded area of line 801 as a reminder to move them 300 ITEMS PAYABLE IN CONNECTION WITH LOAN SDL Our origination charge TEER FEE Shaded BOL Your credt or charge points for the specific interest rate chosen HEES Shaded 803 Your adjusted origination charges hom GFE A Shaded O04 Appraisal Fee to on GE SE 805 Credit Report to MEER Shaded BI Tax Servite to han GFE 22 Shaded 807 Food Certiction TED haded gi Shaded HUD document information gt gt When pulling RESPA Preparation lines 805 806 amp 807 to the supplemental page both the hardcoded description and user entered description will be printed When pulling RESPA Preparation line 805 806 or 807 to the overflow line 808 on RESPA page 2 both the hardcoded description and user entered description will be printed HUD 2010 USER Manual V1 3 2 doc Page 13 of 38 03 10 10 A FIDE LITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development gt RESPA Preparation Lines 810 810 and 812 have only a user entered description which will be printed on the supplemental page as in the current HUD or on Page 2 line 808 if there are no other overflow lines 3 9 RESPA 900 SECTION Section 900 changes for RESPA Preparation screen 1 After the description Mortgage insu
13. amount columns appropriately for each lender For example a line may show 2 000 in the HUD 1 column This may all belong to Lender 1 or 1 000 may be for Lender 1 and 1 000 for Lender 2 The user would adjust the HUD 1 column as applicable If both the GFE and HUD 1 columns are 0 for a line that line will not print on the GFE document for that Lender HUD 2010 USER Manual V1 3 2 doc Page 33 of 38 03 10 10 A FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development If the RESPA Preparation screen is modified after the GFE screen has been filled out it is the user s responsibility to go back into the GFE screen to make corresponding updates User enterable description fields on Respa Prep can be edited on the GFE Comparison screen POC amounts will display on the GFE Comparison screen and are included in the totals as all amounts charged regardless of when paid must be displayed on the GFE document What ever the user entered in the POC column on the RESPA Preparation screen for charges which is P or O will be listed in the POC column next to the amount column on the GFE Comparison screen LINE 1001 on the GFE Comparison screen will be the sum of charges from lines 1002 1007 and POC charges On the GFE Comparison screen the user is able to change some of the descriptions As the user tabs through the screen the cursor will automatically tab on the description fields that can be changed The
14. function keys of PullBill SettChgs etc remain unchanged In Appendix 8 1 is a 2010 HUD mapped to the current Respa lines Users will be allowed to print either the old or new HUD for any new or existing orders There are no system controls to prevent printing the old HUD at any time The original Respa Prep screens remain accessible and unchanged for the users They have been copied and modified for additional information needed for the 2010 HUD as categories for the charges to be used on the GFE an Aggregate charges flag in section 1200 and Agent Underwriter split information in section 1100 Since the same tables are being used to store data data entered for the current HUD will populate the fields in the revised Respa screens when the user enters an existing order 3 RESPA 2010 CHANGES 3 1 PAGE 1 NOTES Page one has a couple of changes versus the current page 1 HUD gt The logo on the top right hand corner of the HUD has changed The Equal Opportunity Housing logo hands with ball and roof was removed and replaced with the new US Department of Housing and Urban Development seal Below is a sample of a HUD page 1 document with new logo A DATE AND TIME OF PRINTING 02 19 10 11 59 Settlement Statement HUD 1 CHICAGO TITLE INSURANCE COMPANY Fi Te ut CLOSER User One 3 thi Below is a sample of a HUD page 1 document with old logo CLOSER User One CHICAGO TITLE INSURANCE COMPANY ut DATE AND TIME OF PRINTING 1
15. included in the total title and endorsement premium calculation The new screen will default all amounts mapped for the 1108 line with an OP1 OP2 LP1 or LP2 depending on what was entered in Billing So if the user correctly codes all the title policy amp endorsement premiums in Online Billing to line 1108 and has no miscellaneous endorsements in other lines the pop up screen will be complete when it comes up and the user can just press Next 9 If endorsements have been entered in other lines the user will need to indicate OP1 etc on those rows in the pop up If items from line 1108 are not policies or endorsements the OP1 must be blanked out so they are not included in the calculation 10 As items are indicated the totals on the bottom will update 11 If the percent breakdown for title and endorsements premiums is different the user enters percents in the Title End percent fields on the split line In this case the T E column will appear on the new screen In addition to confirming the OP1 etc items the user must indicate whether each item is T itle or E ndorsemnt The system will apply the appropriate percent to each and include in the bottom totals 12 The totals from the bottom of the 1100 pop up screen will be used for lines 1103 1104 1107 and 1108 of the HUD 2010 only No data from the pop up will affect or transfer back to the 1100 RESPA Prep screen or Billing 13 When the screen is complete hit Next to save the data
16. line 1001 Hazard Insurance gt HUD line 1003 on the new HUD is the Mortgage Insurance and gets mapped to Mortgage Insurance line 1002 from RESPA Preparation screen HUD 2010 USER Manual V1 3 2 doc Page 15 of 38 03 10 10 A FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development The following checks will need to be made for HUD lines 1004 1006 since these 3 lines must handle 5 lines from the RESPA Preparation screen The program is making these checks and displaying the information as described below e If information exists on the RESPA Preparation screen for only lines 1003 and 1004 gt Separate the City Property Taxes line 1003 from RESPA Preparation and the County Property Taxes line 1004 from RESPA Preparation on new HUD lines 1004 and 1005 gt Make the Property Tax description on the HUD variable so you can print the description on new HUD line 1004 City Property Tax and for new HUD line 1005 County Property Tax e f information exists on the RESPA Preparation screen for lines 1003 and 1004 and any other two lines lines 1005 1006 1007 gt Display RESPA Prep lines 1003 and 1004 as above gt For new HUD line 1006 sum the amounts of the other two RESPA Preparation lines and combine the descriptions That is print description for first line Separate with a Then print the description for the second line For example Assessments Local Taxes e f information exists on a
17. the section on the GFE document that prints with the HUD 2 The number in the from GFE 1 corresponds to the numbering on the 2 page of the Good Faith Estimate form that the loan officer fills out 3 The specific line numbers have been removed from the new RESPA10 Preparation screens as they no longer correspond to line numbers on the new HUD The header section numbers 700 800 etc remain the same RESPA10 contains 2 new screens an 1100 popup screen for the Underwriter Agent split and the Good Faith Estimate screens These are explained in detail later in this document The function key to print the HUD is set up on both RESPAB and RESPA Preparation screens If selecting RESPA10 from the Escrow Order Processing Menu in Settlement area and selecting the function key to print the HUD from either RESPAB or the new RESPA Preparation screen the new HUD will be printed If selecting RESPA from the Escrow Order Processing menu in either RESPAB or RESPA Preparation the old HUD will be printed 3 4 CHANGES TO RESPAB RESPA PREPARATION SCREEN Below listed in yellow is the available option for loan type RHS which has been appended to the previous option FmHA HUD 2010 USER Manual V1 3 2 doc Page 8 of 38 03 10 10 FNF Technology Solutions Chicago TEAM EDI Development IEDER PURGES Bee LELEJIE Beith WS 40 RA Ed IT TG CG HL EE id DTE ENE N _ POE Carol Sait E SELLER Oi 1 Joha DeYoung SAAL Paul AODRES
18. those rows in the pop up The T E column will only appear if the user enters a double percent in the Title End percent fields In this case there is a different percent split for the title premiums than for the endorsement HUD 2010 USER Manual V1 3 2 doc Page 20 of 38 03 10 10 5 FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development premiums between the underwriter and agent So in addition to indicating whether the item is an Owner s or Lender s premium the user will indicate whether it is to be included in the Title split or Endorsement split This will be indicated by the T E column When there is a T E split and a policy indicator exists a T or E will also be required Validation will not allow the user to enter a policy indicator without a T or E or aT or E without a policy indicator Just a note on Pull bill when a Pull bill is done and the user goes into the pop up screen for the first time only items with Billcodes mapped to Respa Pres line 1108 will display the policy indicators entered in billing Any other RESPA line entered in billing that had a policy indicator will need to be reentered by the user on the pop up screen In the event the user does a Pull bill and then changes the amount on a line in the RESPA Preparation screen the 1100 pop up will display the original line s from pull bill and another line for the difference The total of the two or more lines on the popup reflect the am
19. 0 1000 section and place them in the 200 amp 500 section on the RESPA Preparation screens gt For Buyer and Combined HUD the signature block will print on the supplemental page Even if a supplemental page is not needed the supplemental page will still print with the signature block HUD 2010 USER Manual V1 3 2 doc Page 6 of 38 03 10 10 A FIDE LITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development A mapping of the 1986 RESPA page 2 to the 2010 RESPA page 2 is in the Appendix 8 1 POC Charges will continue to be handled as they have been 800 Bel 802 803 804 For a POC user will add the POC details in the description and use the POC indicator field as in line 804 below For a partial POC the POC details will be entered in the description the POC indicator field left blank and the remaining amount entered in the column as in line 803 below Escrow Number 02099 ELISE 001 CF Order Number 02099 ELISE 02038 L Settlement Charges Continued Items Payable in Connection With Loan Loan Net Funded N Borrower Loan Origination Fee 1 000 to Li E 4 500 00 Loan Discount 0 000 to 9 00 Appraisal Fee to 300 POC T0 L1 _ 50 00 Credit Report to 75 POC to Joe s Credit Company P 0 00 3 3 RESPA PREPARATION SCREEN CHANGES From TEAM select option 3 Settlement Statements then select option 1 Escrow Order Processing then select the new option RESPA10 A new fast path RESPA10 will also a
20. 1 charges HUD 2010 USER Manual V1 3 2 doc Page 34 of 38 03 10 10 FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development If the Aggregated Recording charge flag is set to yes the RESPA Prep 1204 amounts are added to line HUD 1203 So the new formulas when Aggregate Recording charges are used If Aggregated Recording charge flag is set to Yes RESPA Prep 1202 1203 1204 for category 1 will be combined and displayed on line 1203 in Category 1 section Line 1205 will display on line 1201 If Aggregated Recording charge flag is set to No RESPA Prep 1202 1203 1205 will be combined and displayed on line 1203 on GFE Comparison screen Lines 1201 and 1204 will be totaled into line 1201 on the GFE Comparison screen as previously The lines in section 1300 will now display separately on the GFE Comparison screen o Those for Lenders Required Services will display with line number 1301 as these charges all roll up to 1301 on the HUD o Regular charges will have the next sequential line number as on the HUD For example if there are two Lenders required services and one regular charge the line number for the regular charge will be 1304 This is due to 1301 on the HUD being the Lender Required Services total line and 1302 and 1303 displaying the 2 Lender Required Service descriptions o The charges for section 1300 will display in the category the user has selected in RESPA section 1300 Any line with a b
21. 2 02 09 16 28 Settlement Statement HUD 1 HUD 2010 USER Manual V1 3 2 doc Page 5 of 38 03 10 10 A FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development On the top of the document the layout is different The loan type FmHA has been renamed to RHS Rural Housing Service Box Funding Date the date the user receipts in the lender s funding check or wire Funding is usually represented by an incoming wire from the lender If there are multiple wires received from the lender the First check wire receipted in as lender s funds constitutes the funding date doesn t matter if the funds are from the first or second lender This date can be written in and is not required In order for funding date to print on the HUD the party type field in Settlement Receipt Entry for receipts and or receipt wires need to be marked for a lender L1 L9 If the party type field is blank or no L1 L9 are entered and there are receipts and or receipt wires no funding date will print gt For sections D E and F if there are multiple borrower names multiple seller names or multiple lenders a description See Attached will display in the boxes and the additional borrower names seller names and lenders will be printed on the supplemental page VV V Seller paid loan charges Seller paid loan charges will no longer be disclosed on the HUD 1 page 2 in the 800 1000 Sections The
22. 2 doc Page 28 of 38 03 10 10 gt gt gt gt gt gt gt gt F IDELI TY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development For lines 1302 1307 the buyer and seller charges are displayed in the description field if the charges are Lender Required Charges as described in the 1301 bullet If no sign exist in the first character in the description the charges will be regular 1300 charges and the amounts will be shown in the buyer or seller column HUD line 1302 on the new HUD gets mapped to line 1301 from the RESPA Preparation screen HUD line 1303 on the new HUD gets mapped to line 1302 from the RESPA Preparation screen HUD line 1304 on the new HUD gets mapped to line 1303 from the RESPA Preparation screen HUD line 1305 on the new HUD gets mapped to line 1304 from the RESPA Preparation screen HUD line 1306 on the new HUD gets mapped to line 1305 from the RESPA Preparation screen HUD line 1307 on the new HUD gets mapped to line 1306 from the RESPA Preparation screen HUD line 1308 mapped to line 1307 from the RESPA Preparation screen and can be used several ways o A single charge displaying the user entered description from RESPA Preparation o An overflow line containing multiple lines from RESPA Preparation lines 1304 1307 which are detailed on the supplemental page The new HUD will display OTHER CHARGES SEE ATTACHED o Items pulled from SETTCHG with the description cu
23. 205 are rolled up to 1201 If the flag is set to YES then the charges are average aggregate and the amount from RESPA Preparation line 1205 displays on HUD line 1201 HUD line 1202 on the new HUD gets mapped to line 1201 on the RESPA Preparation line screen HUD line 1203 on the new HUD is a new line with a description of Transfer Taxes and totals HUD lines 1204 1205 1204 and 1205 amounts only show in the description field HUD line 1204 on the new HUD gets mapped to line 1202 on the RESPA Preparation screen HUD line 1205 on the new HUD gets mapped to line 1203 on the RESPA Preparation screen HUD line 1206 on the new HUD first needs to check the flag for Aggregate Charges or Actual Charges The total is a combination of buyer and seller changes The program will display the new HUD line 1206 as follows o If the flag is set to No then the charges are ACTUAL charges f information exists on RESPA Preparation lines 1204 and 1205 combine the descriptions and separate them with a i e line 1204 description line 1205 description on HUD line 1206 If information exists on line 1204 or 1205 print the description for that line on HUD line 1206 HUD 2010 USER Manual V1 3 2 doc Page 26 of 38 03 10 10 A FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development Only combine both lines 1204 and 1205 for Actual Recording Charges which is when the flag is No o If flag is set to Yes then the c
24. FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development in HUD 2010 with Good Faith Estimate User Manual Version 1 3 2 TEAM HUD Release 3 Prepared by FIDELITY NATIONAL FINANCIAL TEAM Development Updated 03 10 2010 HUD 2010 USER Manual V1 3 2 doc Page 1 of 38 03 10 10 A FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development Table of Contents To go directly to an item listed below hover your mouse over it hold down Cirl and do a left mouse click 1 OVERVIE WW sees es ees Ge EE Ge SG GE GE GE EG Re GE Ge Ge Ge ee Ge ed 4 2 BUSINESS REGUIREMENTS sae ss seke ss de nd ee in ide N ede sei sen es eke NKR ke de ede 5 3 RESPA 2010 GHANGE S issie ip as GE oe ei n ke GR Ge ke ei 5 ey eis dle EE ER EE AAEE 5 3 2 dels los NE Vern ebeceniellansectveeteanuitveveartas 6 3 3RESPA PREPARATION SCREEN CHANGES ee ee ee ee ee ee ee se ee ee ge ee ee ee ee ee ee ee ee ee ee ee ee ee de ee ee ee ee ee ee ede ee ee de ee ee ee ke ee 7 3 4CHANGES TO RESPAB RESPA PREPARATION SCREEN ees ese ee ee ee ee se ee ee ee ee ee ee ee se ee ee ee ee ee de ee ee ee ee ge ee 8 3 5CATEGORY IS ia ER EE OR OR N 9 3 6NAVIGATION AROUND RESPA PREPARATION SCREENS ee ees ee ee ese ee ee ee ee ee ee ee ee ee ee ee ee ee ee ee dee ee ee ee de 10 S RESPA 700 SEC TION BE EE EE RE N 11 S BRESPA 800 SEC TION RR EE EE pads cvanbe aada ae aiaiai aa iaaa eiaa ankaii 12 3
25. Faith Estimate will be explained later in this document HUD 2010 USER Manual V1 3 2 doc Page 9 of 38 03 10 10 A FIDE LITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development 3 6 NAVIGATION AROUND RESPA PREPARATION SCREENS Navigation around the RESPA PREPARATION screens remains the same however is reviewed below to include the new Category column Use both keyboard and keypad function keys as follows Use lt Page Down gt key to go from one section screen to next Use lt Page Up gt key to go from one section to previous Use lt Next gt key to save data and move to the Good Faith Estimate Comparison screen Use lt GOLD gt lt F13 gt key to not save data and exit quit back to TEAM menu Use lt Up Arrow gt key to move from one field to next upward See red up arrow Use lt Down Arrow gt key to move from one field to next downward See red down arrow Use lt TAB gt key to move from one field to next right sideway See red right arrow Note When moving from description or payee name to buyer amount field tab will bypass both category and POC fields To jump from buyer amount field to POC field use lt GOLD gt lt Left Arrow gt once To jump from borrower amount field to Category field use lt GOLD gt lt Left Arrow gt twice To jump from POC field to Category field use lt GOLD gt lt Left Arrow gt once See yellow left arrow s To jump from Category field back to POC field use lt
26. MS MODIFY ESCROW NUMBER 62036 BRIA 9 09 LENDER L1 Brian Barbour Lender 1 Initial Loan Amount Loan Term 30 years Initial Interest Rate 3 333 Insurance to a Maximum of 7 Y First increase on 01 01 Hew Monthly Amount Ouned 160 99 Maximum Monthly Amount Owned Prepayment Penalty Y Maximum Prepayment Amount 200 45 enalty Y Balloon Maximum Amount 200 55 Payment due in 15 years on 01 01 34 Escrow Payment Y w Payment Amount 160 55 Total Monthly Amount 200 55 Homeowner s Insurance Y Flood Insurance Y Earthquake Insurance Y Hurricane Insurance The GFE Comparison screen has 3 sections Header Category section and Totals Footer HUD 2010 USER Manual V1 3 2 doc Page 32 of 38 03 10 10 A FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development Header For each lender the party type and lender name example L1 Lender One will display on top of the screen For multiple lenders the additional lenders will display each on their own screen The escrow office escrow account number and escrow sub number will also display Category Section In the center scrolling section of the screen the program will populate the Description Line Category POC indicator and HUD column The user will populate the GFE column and be allowed to modify the HUD column for the line items The line numbers displayed correspond to the HUD 2010 lines The information on the HUD column will come fro
27. S F LEADER 1 LI AOORESS 111 H He LOAM AAT GPP LOC IL ET HL Hickory Rood COUNTY YEL H SETTLEMERT LOCATION BLG SETTLE PLACE OF SETTLEMENT tle ODE SS 455 Ho Tet Indicates mr 3 5 CATEGORY NUMBERS A Good Faith Estimate GFE form will be filled out by the lender This form will be given to the escrow Officer and they will enter the information in the new Good Faith Estimate GFE screens The Good Faith Estimate is broken down into three categories Category 1 Charges that cannot Increase Category 2 Charges that in total cannot increase more than 10 and Category 3 Charges that can change When you look at the new RESPA Preparation screens see the screen shot in the next section there will be a new column to the left of the POC column This new column is for the GFE Good Faith Estimate category number the charge belongs to Users will be able to get to this column just like they get to the POC column by selecting PF1 lt Left arrow gt or PF1 lt Right arrow gt depending on where the cursor is at on the screen When the user first comes into the new RESPA Preparation screen the default category numbers will display Only some category numbers 2 and 3 can be changed A way to tell if the category number can be changed is if there is an underline under the number i e 2 Users cannot leave the category blank except in the 1300 section An error message will display for an invalid entry More information on the Good
28. Seller paid lump sum charge amount must now be entered on Page 1 in the first available line in the 500 section after the Payoff Loans Line 504 with the offset in the first available line in the 200 section The suggested description is Seller Paid Loan Charges or non recurring closing costs The seller charges for these sections will not be itemized ona supplemental page only the lump sum credit debit will display If there are multiple new loans both with charges paid by the seller the credit is usually one lump sum 3 2 PAGE 2 NOTES The changes for each section are detailed separately below In addition there are the following general changes gt Many items previously displayed in the Buyer or Seller columns of the current HUD are now displayed in the description column and or summed with other lines in the section and shown in a summary line gt Only 2 sections will have charges detailed on the supplemental page 800 and 1300 In Release 2 the 1109 items are detailed also this will be changed to be an option in a future release gt Seller charges in the 800 1000 section no longer belong on page 2 of the HUD and instead must be moved to the 1st available 500 section line with offset in 200 If seller amounts are entered in RESPA Prep for the 800 1000 sections they will be totaled and displayed in the shaded area on the HUD as a reminder to move them It is the user s responsibility to remove them from the 80
29. and move to the RESPA Preparation 1200 section 14 If the user does not enter a percent or amount in the split line leaving the Underwriter percent at 0 0000 100 will default to the Agent Lines 1103 and 1104 on the 2010 HUD will be defaulted from the policy indicators used in Billing If the policy indicator is not used in Billing and the popup screen is not completed lines 1103 1104 1107 and 1108 will all be blank 15 The category number on the Title line represents the charges for HUD line 1101 To change the category number that is listed on the Title line move to the POC field for Settlement or closing fee then select the Gold key and the left arrow key It will be the user s responsibility to identify if the escrow is a Loan Transaction or Sales Transaction and change the category number to 2 if the escrow is a Loan Transaction or 3 if the escrow is a Sales Transaction 16 The user modifiable category field on line 1108 will be used to determine the category for line 1103 Owner s Ins on the GFE Comparison It will be the user s responsibility to identify if the escrow is a Loan Transaction or Sales Transaction and change the category number to 2 if the escrow is a Loan Transaction or 3 if the escrow is a Sales Transaction 3 11 1 New Underwriter Agent and Owner Lender split screen The user chooses which UW Underwriter percent to use red or pink and brown ovals The user can t have both percents red and pink in other wor
30. blank a The exception for changing category number is the last line if the last line has a description ADDITIONAL SETTLEMENT CHARGES ATTACHED then the category number cannot be changed since the line is locked If there are SETTCHGS for 1307 the information on this line gets pulled from SETTCHGS If there are no SETTCHGS then the description ADDITIONAL SETTLEMENT CHARGES ATTACHED does not exist the user will be able to change the category number for the last line b Also if the category number is blank the charges will appear at the end on the GFE Comparison screen with the appropriate RESPA line number but the line will not appear on the GFE Document Snap shot of new RESPA10 1200 1300 Sections showing 2 Lender Required Services Below are the changes for section 1300 on the HUD document gt HUD line 1301 has a new description Required services that you can shop for and can be the total of 1302 thru 1307 If the user entered a sign in the first character in the description on the RESPA Preparation screen the charges will be consider a Lender Required services and total up to 1301 The sign will not show in the description on the HUD document The seller and buyer amounts will be totaled out of column o The buyer column on line 1301 could be the total buyer amounts in 1302 and 1307 o The seller column on line 1301 could be the total seller amounts in 1302 and 1307 HUD 2010 USER Manual V1 3
31. descriptions on this screen will print on the GFEC document Tolerance Adjustment Amount User may enter a credit from lender for amounts exceeding tolerance for Category 1 or 2 User is only able to enter an amount for the HUD column The user will not be able to enter any amount in the GFE column for tolerance adjustment Items grouped together on one line on the HUD document are generally shown as one line on the GFE 1203 1201 1001 and 1101 Exceptions are lines 808 904 and 1305 which lists each charge separately on the GFE though they are summed on the HUD Also note that all charges for that line number on the HUD are all going to have the same line number on the GFE For example if there are five charges that sum up on line 808 all five charges are listed separately on the screen with the same line number 808 The 800 section descriptions that are free formatted on the RESPA Preparation screen can be modified on the GFE screen When tabbing through the GFE screen the cursor will position itself on the free formatted description for items in section 800 so the user can modify it Lines 901 and 903 are hardcoded on the GFE Document in category 3 per the original Business Requirements If these two lines are changed to category 2 and have charges associated to them they will display in category 2 on the GFE screen and document The hardcoded lines will also display in category 3 with no amounts Line 1104 charges will be added to 110
32. ds the user can t have both UW Premium split and Title End split HUD 2010 USER Manual V1 3 2 doc Page 19 of 38 03 10 10 A FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development NEEF LR OP OE different Title End splitsUnderuniter Titlen2 2 gt _aler A TATO COTTICMCNT PUODRES ava an linan VON Tand ROD Cantian VI Underwriter Premur split Note To get to the popup screen tab off the line in the snap shot above after adding an amount or percent entered in one of the fields Underwriter Premium split In UW Premium split case if the user enters UW percent red and selects lt TAB gt key the UW premium will be zeros yellow Select the lt TAB gt key again and the pop up will display If the user enters an amount in UW premium gt and selects lt TAB gt key UW percent red will be zeros and pop up will display If neither UW percent red nor UW premium yellow are entered and user selects lt TAB gt key cursur will move to second UW title percent pink without displaying pop up screen If user selects lt NEXT gt key from pop up screen they will go back to the same 1100 section screen into UW title percent pink Title Endorsements split In Title End split case if the user enters UW title percent pink both percent red and premium yellow will be zeroed out Select lt TAB gt key after Title and End percent pink and brown and the pop up will display
33. e Loan Terms screen and fills in data then returns and changes the Yes to No information previously filled in such as percentages dates and or amounts will be set to spaces and or zeroes when they tab off the field When the user has completed entering information on the screen they need to select the Next key to save If there is a Lender 2 then a GFE Comparison screen and Loan Terms screen will appear for the next lender If there is only one Lender or no more Lenders exist for the order then when the user selects the Next key the information will be stored and they will be taken back to the Escrow Order Processing menu New functionality for a Reverse Mortgage In a reverse mortgage if the lender has established an arrangement that will pay for items such as property taxes or homeowner s insurance through draws from the principal limit the second box in the Total monthly amount owed including escrow payments section on the GFEC page should be checked Also an asterisk must be also be placed under the statement Total monthly amount owed including escrow accounts payments with a description Paid by or through draws from the principal limit gt On the GFE Loan Terms screen in the section Total monthly amount owed including escrow payments for the line Additional Monthly Escrow Payment user will be able to kI enter N Y or HUD 2010 USER Manual V1 3 2 doc Page 36 of 38 03 10 10
34. e increase between GFE and HUD displayed as both an amount and percentage Paid Outside Closing POC will display on any lines which are marked POC for the Buyer on Respa Prep POC will be indicated in the description area of the GFE document to the left of the line number The POC amounts will display in the HUD column although they are POC as they are being used for comparison o Exception When there is a POC on Line 801 or Line 802 include the POC Amount in the Charge s HUD Amount on the GFEC page but do not include the POC indicator For categories where charges exceed the lines on the Good Faith Estimate document a 2 page Supplemental page will print the extra charges for that category 5 3 LOAN TERMS SECTION This section will print based on the data entered in the Loan Terms section of the GFE screens HUD 2010 USER Manual V1 3 2 doc Page 37 of 38 03 10 10 A FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development 6 CLOSING STATEMENTS The following changes were made to the closing statements e All hard coded Survey and Pest Inspections wording for lines 1301 and 1302 have been removed The user entered description payee will print e Ifa sign was used on RespaPrep for Lender Required Services it will be removed and the description payee moved to the left one character to line up with the other descriptions 7 APPENDIX 7 1 Mapping of HUD 2010 to Current HUD
35. e percentage split is used for title premiums as endorsement premiums most cases only the first percent or amount needs to be filled out For example title premium 500 endorsement premiums 100 total 600 If the user enters 60 in Underwriter premium split percent the system calculates 600 x 60 360 for the Underwriter and 600 x 40 for the Agent If the title premiums and endorsement premiums do not have the same percent split the user enters the appropriate percents in the second half of the line that is If different Title End split Underwriter Title XXX XXX End XXX XXX 3 Anew pop up screen appears when the user enters either a percent or a dollar amount on the line and tabs off it If the user returns to the split line the percent or amount will be retained and just tabbing off the field that is populated will get user back to the pop up screen Or the user can edit the percents on the line HUD 2010 USER Manual V1 3 2 doc Page 18 of 38 03 10 10 A FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development 7 The new pop up screen is provided for the user to identify the correct items that should be included in the title and endorsement premium calculation of the Agent and Underwriter split Each line item in 1100 will display and if multiple items were pulled into a line with PullBill each individual line will display 8 All items marked on this screen with a Policy Indicator will be
36. es Mr GE 27 N N 1202 Deed Mortgage Releases MESSE 1203 Transfer taxes tom GE 38 N N 1204 Gty County tax stamps Desc Mongags j 1205 State tax stamps Deed Mortgage Ss ea ite ae a 3 13 RESPA 1300 SECTION Below are changes for Section 1300 on the RESPA Preparation screen 1 After the Additional Settlement Charges description FROM GFE 6 is listed 2 Survey and Pest Inspection to will no longer be displayed as hardcoded descriptions 3 The first six lines in the 1300 section can be used for either Lender Required Services that will roll up to 1301 on the HUD document or regular 1300 charges If the user wants the charges to roll up to 1301 and be considered Lender Required Service charges HUD 2010 USER Manual V1 3 2 doc Page 27 of 38 03 10 10 A FIDE LITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development enter a in the first character in the description on the RESPA Preparation line If no is entered the charges will be displayed as regular 1300 charges 4 The last line in 1300 continues to be reserved for settlement charges The user will not be able to add a sign on this line If they do an error message will display This line not available for Lender Required Services when the user tabs off the field or selects the next key 5 The category number for section 1300 charges can be modified the user now can enter either 2 3 or
37. harges are Aggregate charges and are shown as follows Use line 1205 on the RESPA Preparation screen Display Aggregate Recording Charges as description and map the amount from line 1205 on the RESPA Preparation screen to HUD line 1206 If the flag is set to yes RESPA Preparation line 1204 will be added to line 1203 Transfer taxes on the HUD If the flag is set to no RESPA Preparation line 1204 will be added to line 1201 Government Recording Charges on the HUD The description for 1204 will print on line 1206 with Aggregate Recording Charge description The two descriptions will be separated by The user could enter the amount in the descriptions for clarification as they are added together out of column on the HUD Additional information gt Nothing is printed on new HUD line 1202 if the aggregate recording charge is shown on 1206 If actual fees are used then the user will enter them in the recording fee screen and they will be displayed the same as they are today gt If the aggregate recording charge is used then there can NEVER be any additional recording charges gt New HUD line 1201 is either the sum of new HUD lines 1202 and 1206 for actual charges OR the amount shown on 1206 which is aggregate recording charges Note user will not be allowed to enter both Aggregate and Actual recording charges on the RESPA Preparation screen 1200 GOVERNMENT RECORDING AND TRANSFER CHARGES 1201 Government recording charg
38. he amounts for RESPA Preparation lines 1006 and 1007 and combine the descriptions That is print description for HUD 2010 USER Manual V1 3 2 doc Page 16 of 38 03 10 10 A FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development first line Separate with a Then print the description for the second line For example Assessments Local Taxes The following items pertain to the HUD lines 1004 1006 gt Line 1004 is only for taxes not insurance or assessments gt When combining lines from the RESPA Preparation screen if the months are different for lines being combined only the amount will be printed thee the months and per month will be left blank gt HUD line 1007 on the new HUD is the Aggregate Adjustment and gets mapped to line 1008 from the RESPA Preparation screen 1000 RESERVES DEPOSITED WITH LENDER 1001 Initial deposit for your escrow account 1002 Homeowner s insurance 1003 Mortgage insurance 1004 Cty propery taxes months 1007 Aggregate Acjustment POC Information gt The total for Line 1001 on page 2 will not include POC charge amounts gt The description will not carry to HUD 2010 lines 1004 1006 these lines must accommodate 5 RESPA Preparation lines 1003 1007 and the same RESPA Preparation lines are not always combined into the same HUD line It depends on which lines and how many lines the user fills in this is detail in the ab
39. hicago NATIONAL FINANCIAL TEAM EDI Development 500 ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE S01 Daily interest charges from b Ty thom GFE 210 ae 902 Mortgage insurance premium thon GE SE ee 903 Homeowner s insurance to iam GPE 1 ma MI N i Ooo Ee 3 10 RESPA 1000 SECTION Section 1000 changes for the RESPA Preparation screens 1 Under the Reserves Deposited with Lender section if there is Homeowners Insurance the users will input the information on the Hazard Insurance line What was called Hazard Insurance on the current HUD is renamed Homeowners Insurance on the new HUD 2 After the Annual Assessments line the original RESPA screen had three blank lines the new RESPA screen will have two blank lines and then the Aggregate Accounting Adjustment line will be hardcoded 3 The Aggregate Accounting Adjustments is another field that now has a specific line number on the new HUD document and needs a preset field to ensure that it prints correctly on the new HUD Snap shot of new RESPA10 1000 Section The new HUD document has 1 less line than the old HUD There are a several changes in this section the following are for new HUD lines 1001 1003 gt HUD line 1001 on the new HUD is a new line Initial deposit for your escrow account and is the sum of lines 1002 to 1007 on the new HUD gt HUD line 1002 on the new HUD is renamed to Homeowners Insurance and gets mapped to RESPA Preparation
40. ill be saved and return to the menu The Next key can be selected on either the GFE Comparison screen or GFE Loan Terms screen to save the information You do not have to be on the GFE Loan Terms screen to save the information If the user selects the GOLD QUIT key nothing is stored to the new tables and the user returns to the Escrow Order Processing menu To navigate from GFE Comparison HUD 2010 USER Manual V1 3 2 doc Page 31 of 38 03 10 10 5 FIDELITY FNF Technology Solutions Chicago J NATIONAL FINANCIAL TEAM EDI Development screen to GFE Loan Terms screen user can select GOLD page down key To navigate from GFE Loan Terms screen back to GFE Comparison screen user can select GOLD page up key The GOLD page up and GOLD page down are new navigation keys used solely to move from the GFE Comparison screen to GFE Loan Terms screen or visa versa There will be a GFE Comparison screen and a Loan Terms screen for each Lender associated to the order The Lender will be displayed at the top of the screen Select the Next key to get to the next Lender s Good Faith Estimate screen Below is a screen shot of the Good Faith Estimate Comparison screen Good Faith Estimate Comparision ler L1 Brian Barbour Lender 1 ma nation Charge harge Points for the specific interest rag igination charges MJ ma pa pa He rm rm rm rm Increase between GFE and HUD 1 Charges Category 2 R gt RESPAIO P gt REFRESH GOOD FAITH ESTIMATE LOAN TER
41. iums and endorsements to be split by percent for agent and underwriter and to allow for a different percent split for the endorsements than the premiums e Remove disclosure of real estate broker commission percentage Page 2 Section 700 e Modify HUD process to allow user to print the previous HUD version or the new 2010 version HUD 2010 USER Manual V1 3 2 doc Page 4 of 38 03 10 10 A FIDELI TY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development 2 BUSINESS REQUIREMENTS The business wants the Users to enter Respa data as they have in the past and store the data in the same location so that it can be used on Closing and Commercial statements without any modifications to them These statements will not be changed although the HUD is changing So we will programmatically map the data from the current tables and fields to the new locations on the revised Respa 2010 The business asked that the line numbers be taken off the Respa Prep screens since they will no longer correlate to the line numbers on the document We have left the line numbers on the header sections 100 200 etc as the information entered in each section stays in that same section on the revised HUD All Bill Codes will remain the same This means the bill code mappings remain connected to the current Respa line numbers flow to the same Respa Prep lines they always have and store in the same fields identified with the line numbers The Respa Prep
42. l equal 1107 1108 HUD 2010 USER Manual V1 3 2 doc Page 24 of 38 03 10 10 A FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development 1100 TITLE CHARGES 1101 Title services and lender s title insurance irom GFE 4 N NN 1102 Settlement or Closing Fee Ei 1103 Owner s title insurance to irom GFE 5 ENE EE 1104 Lender s tittle insurance to N N 1105 Lender s title policy limit HEET ETE 1106 Owner s title policy limit ESE AE EI 1107 Agent s portion of the total title insurance premium EER 1108 Underwriter s portion of the total title insurance premium Bees ELE FT 1109 E Sane 3 12 RESPA 1200 SECTION Below are changes for Section 1200 on the RESPA Preparation screen 1 After the City county tax stamps description the FROM GFE 8 description is listed 2 After the State tax stamps description the FROM GFE 8 description is listed 3 Before the second blank line is a new question Is the following for Aggregate Recording Charges Y N N The default is no In this case the Recording fee line and the 2 blank lines are available for actual charges 4 lf user selects Yes as they tab off the field Aggregate Recording Charges will be defaulted in the description on the second blank line If Aggregate charges are used no actual charges are allowed If the user enters an amount on line 1201 an error message will display when they either page do
43. lank category number will display after the category 3 items with the corresponding RESPA line number and spaces for the category number If total lines on the GFE exceed 1 billion dollars the total will not print on the GFE screen or the GFE document This can occur on lines 1001 1101 1103 and 1301 The message on the GFE screen was change to accommodate the billion dollar total the new message is One of the total lines 1001 1101 1103 or 1301 exceeds the 999 999 999 99 limit A sir has been written to address this issue at a later time Totals Footer Totals These will be calculated when the user Tabs off each field Increase between GFE and HUD charge amounts for Category 2 Whether an increase or decrease the formula is TOTAL HUD column minus TOTAL GFE COLUMN EQUALS DIFFERENCE DIVIDED BY TOTAL GFE HUD GFE DIFF GFE The percentage difference will be displayed three places past the decimal example 9 123 Although Category 2 charges cannot increase more than 10 there are no system controls to prevent entering or storing information when the increase is over 10 Itis the user s responsibility to verify the totals See the Appendix for a mapping of the GFE HUD line numbers to the category numbers and to the RESPA Preparation line numbers HUD 2010 USER Manual V1 3 2 doc Page 35 of 38 03 10 10 A FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development Function Keys The Good Faith
44. ll five RESPA Preparation lines 1003 1004 1005 1006 1007 gt For new HUD line 1004 sum the amounts for RESPA Preparation lines 1003 and 1004 and print the description Property Taxes gt For new HUD line 1005 list the description for RESPA Preparation line 1005 that is Annual Assessments and print the amount gt For new HUD line 1006 sum the amounts for RESPA Preparation lines 1006 and 1007 and combine the descriptions That is print description for first line Separate with a Then print the description for the second line For example Assessments Local Taxes e If information exists for RESPA Preparation lines 1003 or 1004 plus 1005 1006 and 1007 gt For new HUD line 1004 print the description from RESPA Preparation line 1003 City Property Taxes and print its amount or line 1004 County Property taxes and print its amount gt For new HUD line 1005 print the description from RESPA Preparation line 1005 Annual Assessments and its amount gt For new HUD line 1006 sum the amounts for RESPA Preparation lines 1006 and 1007 and combine the descriptions That is print description for first line Separate with a Then print the description for the second line For example Assessments Local Taxes e f information exists for RESPA Preparation lines 1005 1006 and 1007 gt For new HUD line 1005 print the description from RESPA Preparation line 1006 Annual Assessments and its amount gt For new HUD line 1006 sum t
45. llow users to access the new RESPA10 screens just as the old RESPA fast path allows users to go directly to those screens The Escrow Order Processing menu varies from region to region so the new RESPA10 option will be the last item listed under the Escrow Statements sub menu Please note there were no changes to the existing RESPA screens The user will still be able to enter information on the current RESPA screens and pull that information up on the new RESPA10 screens Users will be able to print existing HUD statements as well as new HUD statements for any escrow to familiarize them selves with how the information will display on the new HUD The changes on the new RESPA10 screens do not have any effect on how or where the information is stored in the database The information entered for the old RESPA and the new RESPA is stored to the same place By doing this the closing and commercial statements do not need to be changed New tables were added to the database to capture the additional information needed for the HUD 2010 including the category fields Underwriter Agent split information and GFE data The following changes apply to the 700 1300 sections in general HUD 2010 USER Manual V1 3 2 doc Page 7 of 38 03 10 10 A FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development 1 There is anew GFE column The new column is after the from GFE NUM and before the POC column This number refers to
46. m the Buyer amounts on lines with category s on the RESPA Preparation screen for first time the user enters the screen Subsequent entries in the screen will pull the data from the new tables In order to allow the user to add an item to the GFE screen that has been added to the RESPA Preparation all category lines on the GFE screen whether or not they have an amount will be displayed on the GFE comparison screen The user can update the GFE and HUD column amounts as needed For lines that users are allowed to enter a description on the RESPA Preparation the description field on the GFE will be enterable for example the RESPA Preparation lines 810 812 Both hardcoded and user entered descriptions will be stored in the new RESPA GFE tables The user will be able to modify the information in the HUD column This will be necessary when there are multiple lenders o Exception Line number 803 is a system calculated line and cannot be modified Line 803 is the total of 801 802 If both the GFE and HUD column are 0 the line will not show on the GFE printed document and will be stored in the database as zeroes Next time the user enters the screen the line will display zeros again This is useful in the case of multiple Lenders for charges that should not show on another Lender s GFE When there are multiple lenders the Category section will initially display identically for each lender and it will be the user s responsibility to adjust the
47. n on the bottom of the screen is automatically calculated and updated with each entry the user makes Owner s Premiums display on HUD line 1103 Lender s Premiums to HUD line 1104 Agent s amp Underwriter s portions go to HUD lines 1107 and 1108 HUD 2010 USER Manual V1 3 2 doc Page 21 of 38 03 10 10 FIDEL ITY FNF Technology Solutions Chicago 1 NATIONAL FINANCIAL TEAM EDI Development Below is the screen for a single split Underwriter Agent amp Quner Lender Split it 70 000 or 9 oon an o w w Underwriter Agent amp Quner Premium split 6 066 wom on on oo HUD 2010 USER Manual V1 3 2 doc Page 22 of 38 03 10 10 A FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development Below is the screen when the split is different for policies and endorsements The screen is identical to the above but includes the T E column Underwriter Agent amp Qune nd split Underwriter The new HUD document has line numbers 1101 1109 versus the old HUD which had line numbers 1101 1113 flow to the supplemental page Below are the document changes for section 1100 gt New HUD line 1101 Title Services and lender s title insurance per Business Requirements is the total of all 1100 section charges except new HUD line 1103 Display borrower s total in Buyer column and Seller s total in Seller column gt New HUD line 1102 Settlement or closing fees gets mapped to RESPA
48. od Faith Estimate GFE that clearly discloses key loan terms and closing costs HUD s objective is to protect consumers from unnecessarily high settlement cost by taking steps to improve and standardize the Good Faith Estimate GFE form to ensure that the GFE provides a clear summary of the loan terms and total settlement charges The changes will provide more accurate estimates of costs of settlement services shown on the GFE and ultimately facilitate comparison of the GFE and the HUD Settlement Statements at closing The following document describes the business requirements for the TEAM application that need to be completed for compliance with the new RESPA ruling for the HUD form required for January 1 2010 The following is a high level summary of the areas of TEAM impacted by this new HUD ruling e Create a new screen in TEAM to allow Escrow users to enter the new Good Faith Estimates provided by the Lender s e Allow escrow users to identify a Category for loan costs and settlement charges included on the Good Faith Estimate The categories are defined as follows Category 1 Charges that cannot increase Category 2 Charges that can increase up to 10 Aggregate Category 3 Charges that can change at settlement e Create new HUD form with an added GFE Comparison Page including highlights of key loan terms page 3 and printed references to GFE line numbers for easy comparison to GFE page 2 e Modify HUD process to display total prem
49. ount on the RESPA Preparation screen for that line For example a line is entered in Billing coded to line 1103 for 25 00 Pull bill brings in the 25 00 and the user changes the amount on line 1103 to 30 00 The popup will show separate lines for 25 00 and 5 00 The line on the popup with the difference will not have a Bill code and the user will have to enter the policy indicator if needed Negative amounts will be seen on the pop up window if they were either entered in billing as a negative or the difference line needs to be negative due to an adjustment made by the user on the RESPA Preparation screen Please note Offtable has an option not to pull lines 1105 amp 1107 for Pullbill If this flag is set to N items with Billcodes mapped to these lines will not be pulled to the Respa Prep however they will be shown on the popup as both a debit and credit which will equal zero to match the line on Respa prep Below is a partial snap shot of the flag found on the Escrow and Escrow Securities screen in Office Maintenance PULLBILL INCLUDE LINES 1105 AND 1107 Note for Washington State users Tax on Title and Endorsement premiums should not be included in the Agent Underwriter split These should be in a separate Bill Code and NOT marked for inclusion in the split on the below screen Tax will be included in line 1101 of the HUD pg1 but does not need to be itemized on the HUD Note this functionality is not yet in place The total sectio
50. ove Section 1000 changes for the RESPA Preparation screens The description on HUD 2010 lines 1004 1006 is small since the 2010 HUD prints the amounts outside the column where the description used to be HUD 2010 USER Manual V1 3 2 doc Page 17 of 38 03 10 10 A FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development 3 11 RESPA 1100 SECTION The next screen is for the RESPA10 Section 1100 RESPALG RES ARA Escrow Number 62030 BRIAN2009 601 BLG Order Humber 02036 BRIAN2669 02326 L Settlement Charges Continued 1160 1108 Title Charges from GFE 4 2 Borrower Seller Brian Barbour LCC Document preparation fees ender 9 66663 or 16 02 IF different Title End split Underwriter Title End z 1400 TOTAL SETTLEMENT CHARGES enter on lines 103 Section J and 562 Section K 5 964 15 16 664 312 66 383 663 CASH X FROM TO BORROWER CASH FROM X To SELLER 99 598 770 15 88 966 536 52 amp gt RESPABIG 4 gt LINE gt BILLING lt gt PULLBILL lt gt RECEIP gt EXISTMTG A gt SETTCHGS Z gt PRUMPAID Section 1100 changes for the RESPA Preparation screens 1 A new line has been added at the end of the section for underwriter and agent split The new line is Underwriter Premium split XXX XXX or XXXXXX XX 2 If different Title End split Underwriter Title XXX XXX End XXX XXX This is the split of title policy and endorsement premiums that go to the Underwriter and Agent If the sam
51. overage For multiple lenders on the line list each policy limit separately Note the policy premium amount no longer displays in the description field on this line HUD 2010 USER Manual V1 3 2 doc Page 23 of 38 03 10 10 gt A FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development New HUD line 1106 Owner s title policy limit gets mapped to the RESPA Preparation line 1110 Owner s coverage For multiple lenders on the line list each policy limit separately Note the policy premium amount no longer displays in the description field on this line New HUD line 1107 Agent s portion of the total title insurance premium This is calculated from the percent the user enters multiplied by the total title and endorsement premiums If split is different for title and endorsement premiums the description on the new HUD will display Agent s portion of the total title insurance premium END HUD line 1108 Underwriter s portion of the total title insurance premium This is calculated from the percent the user enters multiplied by the total title and endorsement premiums If split is different for title and endorsement premiums the description on the HUD will display Underwriter s portion of the total title insurance premium END For HUD lines 1107 AND 1108 a pop up screen will display in RESPA Preparation for the user to identify policies endorsements and the split See RESPA Prepara
52. rance premium for from GFE 3 description is listed 2 After the description Hazard Mortgage insurance premium for from GFE 11 description is listed 3 The category numbers for section 900 can be changed Valid category numbers are 2 and 3 User will not have the ability to change the category number to 1 Snap shot of new RESPA10 900 Section There are several changes from the old HUD document versus the new HUD The new HUD has 1 less line than the old HUD so line 904 is the overflow line Also there are several description changes gt HUD line 901 on the new HUD description has been changed to Daily interest charges from and gets mapped to line 901 from the RESPA Preparation screen gt HUD line 902 on the new HUD is Mortgage Insurance Premium for and gets mapped to line 902 from the RESPA Preparation screen gt HUD line 903 on the new HUD description is now Homeowner s Insurance for on old HUD was Hazard Insurance Premium and gets mapped to line 903 from the RESPA Preparation screen gt HUD line 904 is the overflow line on the new HUD and gets mapped to the lines 904 905 from the RESPA Preparation screen The description is a variable field and if there are descriptions in both lines 904 and 905 then list both descriptions and separate the descriptions by a sum the amounts HUD 2010 USER Manual V1 3 2 doc Page 14 of 38 03 10 10 5 FIDELITY FNF Technology Solutions C
53. rrently displayed when this is the case 1300 et lle SETTLEMENT CHARGES a a oo H 302 SS E E E ad ad Eed ee eed he ad Mad hw ad Mad wooo ad Gad HUD 2010 USER Manual V1 3 2 doc Page 29 of 38 03 10 10 FIDEL ITY FNF Technology Solutions Chicago 1 NATIONAL FINANCIAL TEAM EDI Development Snapshot of 100 and 400 Section Order Number 6 Dat 1 a Adjustments for items paid by seller in advance y t Gross Amount Due From Borrower 100 637 865 15 Gross mount Due To Seller j 166 033 076 00 363 CASH X FROM TO BORROWER 99 597 540 15 603 CASH X TO FROM SELLER 88 966 536 52 Z gt PRUNPAID Escrow Number 6 1 BLG Order Number 9 200 J Summary Of Borrower s Transaction Continued K Summary of Seller s Transaction Continued 200 Amounts Paid By Or In Behalf Of Borrower 509 Reductions In Amount Due To Seller 303 CASH X FROM TO BORROWER 99 597 540 15 663 CASH X TO FROM SELLER 88 960 536 52 Printing the HUD document Per Business Requirements a question will be asked when the user selects the HUD to print The new question is on the current popup received when a HUD is printed and asks the user which HUD will be used at closing a 2010 HUD 1986 HUD or No HUD This is a mandatory field the user must select a value or will receive a message This information is being used for FEDR Fidelity Enterprise Data Repository HUD 2010 USER Manual V1 3 2 doc Page 30 of 38 03 10 10
54. t P gt PULLBILL lt R gt RECEIPT lt X gt EXISTMTG lt A gt SETTCHGS lt Z gt PRUNPAID 3 7 RESPA 700 SECTION Snap shot of new RESPA10 700 Section RESPAIG RESPA PREPARATION MODIFY Escrow Number 92030 BRTAN2009 001 BLG Order Humber 92030 BRIANZG09 02326 L Settlement Charges 766 706 Total Sales Broker s Commission based on price I 160 000 000 08 E 10 000 Z 16 666 660 60 Paid From Paid Fros Division of Commission line 766 as follows Borrower s Seller s LB 5 066 5 000 000 00 to dB Funds At Funds At S8 4 000 4 000 666 66 to SB Settlement Settlement Commission paid at Se t Pi 0 00 9 600 000 00 mey Retained A C 0 00 0 00 9 00 _ _1 666 666 66 1400 TOTAL SETTLEMENT CHARGES enter on lines 163 Section J and 562 Section K 4 742 00 10 004 287 00 303 663 CASH X FROM TO BORROWER CASH FROM X To SELLER 99 952 548 08 88 960 561 52 amp gt RESPAB 4 gt LINE gt BILLING gt PULLBILL Q gt RECEIPT lt gt EXISTMIG gt SETTCHGS gt PRUNPAID For section 700 the new HUD document has line numbers 700 704 versus the old HUD which had line numbers 700 705 HUD 2010 USER Manual V1 3 2 doc Page 11 of 38 03 10 10 A FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development There are a couple of small changes to the new HUD document for section 700 gt Line 700 Remove disclosure of real estate broker commission percentage gt Line 700 New HUD description is
55. tion section for screen shot and explanation of new pop up screen 1100 A new 1109 line has been added to the HUD It will contain out of column total for the buyer of items on the 3 Respa Prep blank lines and be added to the 1101 buyer total For the seller the box is not shaded and the total charges will be in column and will not total to 1101 Please note the following e Multiple 1109 lines will now display on supplemental page with a description of Other Charges See Attached when items are listed on the RESPA Preparation section 1100 blank lines 1111 1113 They will be detailed on the supplemental page as Add l title escrow charges e If the amounts entered in Billing mapped to RESPA Preparation section 1100 blank lines 1111 1113 the charges are detailed on the supplemental If the user changes the RESPA Preparation amounts for those blank 1100 blank lines 1111 1113 after doing PULLBILL or if there are multiple customers and not all are selected for PULLBILL that line s description and amount from RESPA Preparation 1111 1112 1113 will display on the supplemental but not the detail items from Billing e Items on the RESPA Prep 1100 section 3 blank lines 1111 1113 that are coded OP1 OP2 LP1 LP2 for policies endorsements will be pulled to HUD lines 1103 1104 and be included in the split They will not be included in new line 1109 or displayed on the supplemental Note new HUD lines 1103 1104 wil
56. wn or select next key Can only use Actual or Aggregate Fees gt If the Aggregate Recording Charge flag is set to Yes the category for line 1204 will be automatically set to category 1 This allows the line to be used for additional tax stamps and will roll to HUD line 1203 Transfer Taxes with Respa Prep lines 1202 and 1203 in this case gt If the Aggregate Recording Charge flag is set to No the category for line 1204 will be automatically set to category 2 The charges will roll to HUD line 1201 gt The category number will change when the user selects Yes or No for Aggregated Recording charges and either tabs off pages up pages down arrows up or arrows down from the field Snap shot of new RESPA10 1200 Section HUD 2010 USER Manual V1 3 2 doc Page 25 of 38 03 10 10 FIDELITY FNF Technology Solutions Chicago NATIONAL FINANCIAL TEAM EDI Development The new HUD document has 1 more line than the old HUD The user now has the option of using Aggregate charges which are average charges for Recording Fees in their area This is detailed in Escrow Technical Memo 99 2008 dated 12 12 08 gt HUD line 1201 on the new HUD will depend on whether the user is entering average calculated charge or actual charges A check is made on the new flag which corresponds to a new question on the RESPA Preparation screen If the flag is set to NO then they are using Actual charges and RESPA Preparations lines 1201 1204 and 1
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