Close It Original HUD DisplaySoft 2018 Display Systems, Inc.ġ5 Commission Breakdown The commission breakdown assists with processing or transaction fees associated with broker charges and distributes the deposit retained. Key amounts directly into line 701 and 702 and ignore the percentage and points that generate automatically. Likewise, the split between realtors may be based on an agreed upon amount rather than a percentage or point. Simply type the total agreed upon commission into the Line 700 total. Flat Rate Commission A flat rate commission is not based on a percentage of the total. Amounts for the 700 section are available directly on the closing statement.
Close It Original HUD DisplaySoft 2018 Display Systems, Inc.ġ4 HUD - Commission Calculator The commission calculator assists with generating the total commission and the division between the brokers. The state and county transfer taxes compute based on the property location, the purchase price and the loan amount. The Recording Calculator opens for data entry of recording fees. The Title Calculator will post title charges to the HUD Line 1108 and endorsements to Line 1110a. The commission calculator assists in computing the total and splitting commission, while the Commission breakdown assists in balancing the deposit against the fee to compute HUD Line 703 amount due from buyer/seller at closing. Each button specializes in respect to its section. Close It Original HUD DisplaySoft 2018 Display Systems, Inc.ġ1 HUD Calculators and other functions are represented by buttons embedded on the form. Click the Apply button to send the total onto the closing statement. The payoff calculator assists by generating the total amount required based on interest charge, late fees, past due amounts, other charges, and then generating the total required. The payee name can be placed on the blank line beneath the item description. Each payoff mortgage line has its own calculator. Close It Original HUD DisplaySoft 2018 Display Systems, Inc.ġ0 Payoff Mortgage Using the payoff calculator is optional because the amounts may be entered directly onto the closing statement. Commission Breakdown BROKER: A deposit to broker will appear as income on the balance sheet unless it is retained by the broker or the balance of the deposit is moved to the Seller position inside the Commission Breakdown calculator on HUD. The amount direct to seller will not appear on the balance sheet as income. The amount entered here will indicate the deposit was given from the buyer to the seller or from a third party to the seller prior to closing The deposit direct to seller will appear on the seller side of the settlement statement as a reduction to the seller at closing. SELLER DIRECTLY The Seller Directly is not intended for use by the broker. OTHER ESCROW The Other Escrow is intended for use by the settlement agent to indicate the amount is available at settlement from the closer s escrow account. A portion of the deposit data entry is reserved and integrated with the commission calculator on, Section H.
The deposit appears as a credit on the buyer side of the settlement statement. 9 HUD Deposit Click the DEPOSIT button to open the deposit information and enter the deposit into Broker-1, Other Escrow, or Seller Directly.
9Įstimated Taxes, Insurance & Assessments. Release Notes Standard 20 HF3 | December 3, 2015Ĥ800 Falls of Neuse Road, Suite 400 | Raleigh, NC 27609
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