The Closing Costs Worksheet is similar to the Fees Worksheet and is used to populate the Closing Disclosure. You must first complete the Closing Costs Worksheet before generating the Closing Disclosure. You can transfer fees from the Fees Worksheet to the Closing Costs Worksheet by utilizing the Copy from Fees Worksheet button to save time and prevent data entry errors.
Important: The Closing Costs Worksheet populates the Closing Disclosure and must be completed before you complete the Closing Disclosure.
To complete the Closing Costs Worksheet:
1. Open a borrower file.
2. Open the Closing Costs Worksheet from the Forms menu or the shortcut toolbar.
3. Enter the Date Prepared.
4. Select the Confirm Receipt - Closing Disclosure checkbox to add a borrower signature line to the Closing Disclosure.
5. To transfer fees from the Fees Worksheet, click the Copy from Fees Worksheet button.
The Copy from Fees Worksheet window will open.
Displayed fees are currently unlocked and will not automatically recalculate when transferred over from the Fees Worksheet.
a. Use the available checkboxes to indicate any fees that should recalculate when transferring over from the Fees Worksheet to activate the Re-calculate button for use.
b. Click the Skip button to leave any fees that appear as is (no recalculating needed).
6. Enter the MIC# (Mortgage Insurance Certificate Number).
7. Enter the Disbursement Date.
8. If applicable, edit the Estimated Closing Date, Closing Date, and 1st Payment Date that were populated from the Fees Worksheet.
9. Review, modify, and complete sections A through E as needed.
10. Review, modify, and complete sections F, G and H as needed, using the Source of Service Provider (LEF) dropdown lists to make selections for any fees that may pertain to your RegulatorConnect report.
