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Sections 100-120, 400-420
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Fields in view Enter/Edit information Calculations Modules |
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Entering/Editing information on the HUD
- Enter the file number of the HUD if you have not done so already.
- Proceed through the form by entering party information, text descriptions, calculation boxes and dollar values where necessary.
- Pressing TAB at the end of a page will send you to the next tab. To move to the next section, click the Next Page button at the top of the screen.
- Click the Save button to save the form.
- Place the cursor in the field you want to edit.
- Highlight the existing information and hit the delete key on the keyboard. Enter the new description or amount.
- TAB through the field and the remaining line items to ensure all updates are completed (* to clear out an entire section of the HUD, click the Clear All button located at the top of the form view).
- To save information at any time to the HUD, click the Save button located at the top of the form view.
Calculations: J100-120 and K400-420
Calculation Lines 104, 105: Payoff of Loan
This calculation involves the payoff of a pre-existing loan that will be displayed on the real estate closing. This may be a previous loan owed by the borrower or an assumption of the seller's debt as part of the sales contract agreement. Below is a table listing the field names, their length and description. This will help explain how to work through this calculation.
| Field Name | Field Size | Field Description | |
|---|---|---|---|
| Existing Loan Number | 40 (any character) | Loan Number to be paid off | |
| Principal Date | mm/dd/yy | Date of Principal payment | |
| Principal Amount | 12.2 Numeric | Amount of Principal Balance to be paid | |
| Days until Interest | 2 Numeric | Will add this to set date | |
| Days After (Selection) | Click on choice | Settlement or Other date | |
| Other Date | mm/dd/yy | Date if "Other" selected | |
| Amount per Day | 12.2 Numeric | Amount per calculated days | |
| Late Fee Amount | mm/dd/yy | Amount of Late Fee | |
| Late Fee Accrued | 4 Numeric | How Many Late Times, if entered late fee is assigned | |
| Late Fee Date | mm/dd/yy | Day Late Fee is Assigned | |
| Other Description | 40 (any character) | Notes Field | |
| Other Amount | 12.2 Numeric | Amount of other Charge |
Everything in this screen is fully calculated. When you’re finished entering a value in a field, simply TAB out of that field and the view will be recalculated. This calculation is also located on lines 104,105,504 and 505 of sections J and K.
Calculation: Adjustment for ItemThis calculation deals with the adjustments for items paid by the seller in advance. The result of this calculation determines how much the borrower owes the seller for fees, paid in advance, and for payments that will wholly or partially accrue after the borrower has assumed ownership of the property. This calculation uses the Annual, Semi-Annual, Quarterly or Monthly basis in reference to the Proration, Settlement or the date of your choice. The following table describes the field name, size and description.
| Field Name | Field Size | Field Description |
|---|---|---|
| Periodic Amount | 12.2 Numeric | Amount to be calculated |
| Basis choice | Click on proper choice | Annually, Semi-Annually, Quarterly, Monthly |
| Date choice | Click on proper choice | Proration, Loan, Other |
| Other date | mm/dd/yy | If "Other" date is chosen |
| "To" date | mm/dd/yy | Date which ends the period |
Everything in this screen is fully calculated. When you’re finished entering a value in a field, simply TAB out of that field and the view will be recalculated. This calculation is available on lines 106-110 of sections J and K.
(TOP) ModulesSections 100-120, 400-420 Fields
| Field | Size | Description |
|---|---|---|
| Contract Sales Price | 12.2 Numeric | Monetary Value |
| Personal Property< | 12.2 Numeric | Monetary Value |
| J104 Description | 40 (any value) | Description |
| J104 Total | 12.2 Numeric | Monetary Value |
| J105 Description | 40 (any value) | Description |
| J105 Total | 12.2 Numeric | Monetary Value |
| City/Town Taxes Total | 12.2 Numeric | Monetary Value |
| County Taxes Total | 12.2 Numeric | Monetary Value |
| Assessments Total | 12.2 Numeric | Monetary Value |
| J109 Description | 40 (any value) | Description |
| J109 Total | 12.2 Numeric | Monetary Value |
| J110 Description | 40 (any value) | Description |
| J110 Total | 12.2 Numeric | Monetary Value |
| J111 Description | 40 (any value) | Description |
| J111 Totall | 12.2 Numeric | Monetary Value |
| J112 Description | 40 (any value) | Description |
| J112 Description | 40 (any value) | Description |
| J112 Total | 12.2 Numeric | Monetary Value |
| K403 Description | 40 (any value) | Description |
| K403 Total | 12.2 Numeric | Monetary Value |
| K404 Description | 40 Any Value | Description |
| K404 Total | 12.2 Numeric | Monetary Value |
| K405 Description | 40 (any value) | Description |
| K405 Total | 12.2 Numeric | Monetary Value |
| K409 From Description | 40 (any value) | Description |
| K409 "From Date" | mm/dd/yy | Date Field |
| K409 "To Date" | mm/dd/yy | Date Field |
| K409 Total | 12.2 Numeric | Monetary Value |
| K410 Description | 40 (any value) | Description |
| K410"From Date" | mm/dd/yy | Date Field |
| K410 "To Date" | mm/dd/yy | Date Field |
| K410 Total | 12.2 Numeric | Monetary Value |
| K411 Description | 40 (any value) | Description |
| K411 Total | 12.2 Numeric | Monetary Value |
| K412 Description | 40 (any value) | Description |
| K412 Total | 12.2 Numeric | Monetary Value |
(TOP) Modules
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