SoftPro Select 4.2.2 (4.2.41213.5) - 1/27/2017 - Part 1 of 2

ProForm

Escrow/Closing

Actual Charges Dialog

To help users reconcile the actual recording/transfer tax fees charged by a vendor against the fees charged to the buyer/seller at closing, an Actual Charges dialog was added to CDF Section E & HUD Section 1200. Two new reports were also added to assist in identifying orders that have overages or shortages and need to be reconciled: 356928

Dialog details:

• Recording fees, Transfer taxes (Initial, Re-Recorded): These fields are for the fees coming from the vendor for recording fees and transfer taxes.
• Recording service charges: This line is intended to be used for service charge fees coming from the vendor, such as eRecording fees.
  • Recording service charges are not eligible for reimbursement (omit from totals): This checkbox is associated with the Recording service charges fields.
  • If you are not being reimbursed for the service charges, check this box; this will indicate that the service charge amount won’t be included in the total actual charges and won’t be counted towards overages/shortages.
• Bill Code: This information is populated from the bill code drop-down in SPAdmin; select the appropriate code for the charge.
• Total Charged: This is the sum of all charges from the HUD 1200 Section or from CDF Section E, including POC amounts.
• Total actual charges: This is the sum of all actual charges, excluding service charges not eligible for reimbursement.
• Overage (+)/Shortage (-): The difference between Total charged and the Total actual charges.
• Reconcile complete: After running the new reports and identifying/resolving overages and shortages, using this checkbox will remove from the reports. If you want to include orders that have been reconciled on your reports, you can select to Include Reconcile complete orders.

Accessing: The dialog may be accessed from either CDF or HUD files:

• CDF Section E: A hyperlink has been added to the charge details dialog:

• HUD Section 1200: A hyperlink has been added to the charge details:

Example:

1. A Recording fee of $10 has been input into CDF Section E and charged to the Borrower:



2. However, the actual recording fee was $12, & the recording service charge was $3. This is input in the Actual Charges dialog:



3. The difference between the Total charged (CDF data) and the Total Actual charges (data input into the dialog) results in a $5 shortage.
4. Read the report section below to see how the new reports would work with this data.

Reports: A folder containing two new reports has been added to the ProForm Reports tree. The example above will help to demonstrate how these reports work:

• Reconcile Recording Charges By Bill Code:
  • Double click the report to load.
  • Parameters: Specify the type of information you pull into the report:

  

  • Offices: Displays office information, if available. Select one or more offices to run the report against.
  • Dates: Specify a date range for the report, if desired.
  • Include: You may opt to include Order Type, Transaction Type, Escrow officer name, or Property county (1st) if you wish.
  • Reconciliation type: Required; this field will allow you to pull the following information:
    • Overages & Shortages, Overages Only, Shortages Only, or All orders including ‘in balance’ orders.
  • Include: Optional; you may include orders marked as reconcile complete, or orders with service charges marked as not eligible for reimbursement.
  • The Reconcile Recording Charges By Bill Code report looks like this:

  

• Reconcile Recording Charges By CDF/HUD-1 Line:
  • This report work just like the charges by Bill Code report above, except that it displays the information according to CDF/HUD-1 line and the actual amount is shown only under Actual Total; it looks like this:

  

• After reviewing the overages/shortages in the reports, you may go back to the corresponding orders to pull up the Actual Charges dialogs & check the following checkboxes:



• Recording service charges are not eligible…: Check this if you will be assuming the payment of the service charge ($3 here).
• Reconcile complete: Marks the charges as reconciled, & excludes from the reports once you make any accounting adjustments or update the CDF/HUD-1 to collect the fee. Edits to this field will write to the order history.

Permissions:

A folder has been added under Escrow/Closing > Actual Charges (Recording/Transfer Taxes):

• Recording service charges are not eligible for reimbursement: If the edit permission is granted, the user can edit the Recording service charges are not eligible checkbox field on the Actual charges dialog.
• Reconcile complete: If the edit permission is granted, the user can use the reconcile complete checkbox on the Actual charges dialog.
• These groups have edit rights granted with new installs & upgrades: Administrators, Default, EscrowAssistant, EscrowOfficer, & Manager.