Construction Handling & Inspection Fees can be applied before or after consummation. Fees of this type that are applied before consummation are disclosed in the Loan Costs section of the Loan Estimate and Closing Disclosure pg. 2. However, fees of this type that are applied after consummation are disclosed on an addendum.
To enter Construction Handling & Inspection Fees paid after consummation:
- Open either the Fees Worksheet or the Closing Disclosure.
- Click the Post Consummation Fees button at the bottom of the screen.
The Post Consummation Fees window will open
- Use the available fields to enter the Description and Amount of any construction handling and inspection fees paid by the borrower.
- The listed amounts will be reflected in the Loan Costs field of the Comparisons section on the Loan Estimate pg 3 if entered through the Fees Worksheet, or, if entered through the Closing Disclosure the amount total will populate the Total of Payments field on pg 5.