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Sections 700-812
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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 Total Sales/Broker's Commission Calculation (Line L700)
This calculation determines the amount of commission due at settlement in total, whether it be for one brokerage party or more.
| Field Name | Field Size | Field Description |
|---|---|---|
| Based on price | 12.2 Numeric | Basis amount for commission calculation |
| Percent or flat fee | 4.2 Numeric | The percentage charged on basis amount or the flat fee of the commission if known |
| Amount due | 12.2 Numeric | The total commission due |
Calculation: Lines L701-703
These lines display the information already entered in the 201 and 700 calculation boxes or may have the corresponding fees entered directly into the appropriate field.
Calculation: Lines L801, L802This line shows the amount of money due as part of the loan origination and discount fees. If you are working on a points basis you must convert the point basis value to an equivalent percent. To perform a calculation in this line simply enter the percentage and tab through the field. The amount charged will be calculated for you.
(TOP)Sections 700-812 Fields
| Field | Size | Description |
|---|---|---|
| L700 Price | 12.2 ( Numeric) | Basis Price for Commission figure |
| Total percent | 4.2 (Numeric) | Percent of Basis to be paid as the commission |
| Total Amount | 12.2 ( Numeric) | Monetary Value due to all commission parties |
| L701 Broker 1 Amount | 12.2 ( Numeric) | Monetary amount to Broker 1 |
| L701 Description | 30 (Any character) | Description |
| L701 Description | 30 (Any character) | Description |
| L7202 Broker 2 Amount | 12.2 (Numeric) | Monetary Amount to Broker 2 |
| L702 Description | 30 ( Any character) | Description |
| L702 Description | 30 ( Any character) | Description |
| L703 | 40 ( Any character) | Description |
| Borrower's Total | 12.2 (Numeric) | Monetary Value |
| Seller's Total | 12.2 (Numeric) | Monetary Value |
| L704 Description | 40 (Any character) | Description |
| Description | 40 (Any character) | Description |
| Borrower's Amount | 12.2 (Numeric) | Monetary Value |
| Seller's Amount | 12.2 (Numeric) | Monetary Value |
| L801 Loan Origination | 12.2 (Numeric) | Monetary Value |
| Description | 50 (Any character) | Description |
| Borrower's Amount | 12.2 (Numeric) | Monetary Value |
| Seller's Amount | 12.2 (Numeric) | Monetary Value |
| L802 Loan Discount | 12.2 Numeric | Monetary Value |
| Description | 50 (Any character) | Description |
| Borrower's Amount | 12.2 (Numeric) | Monetary Value |
| Seller's Amount | 12.2 (Numeric) | Monetary Value |
| L803 Appraisal Fee | 50 (Any character) | Description |
| Borrower's Amount | 12.2 (Numeric) | Monetary Value |
| Seller's Amount | 12.2 (Numeric) | Monetary Value |
| L804 Credit Report | 50 (Any character) | Description |
| Borrower's Amount | 12.2 (Numeric) | Monetary Value |
| Seller's Amount | 12.2 (Numeric) | Monetary Value |
| L805 Lender Inspection Fee | 30 (Any character) | Description |
| Description | 50 (Any Character) | Description |
| Borrower's Amount | 12.2 (Numeric) | Monetary Value |
| Seller's Amount | 12.2 (Numeric) | Monetary Value |
| L806 Mortgage Insurance | 30 (Any character) | Description |
| Description | 50 (Any character) | Description |
| Borrower's Amount | 12.2 (Numeric) | Monetary Value |
| Seller's Amount | 12.2 (Numeric) | Monetary Value |
| L807 Assumption Fees | 30 (Any character) | Description |
| Description | 50 (Any character) | Description |
| Borrower's Total | 12.2 (Numeric) | Monetary Value |
| Seller's Total | 12.2 (Numeric) | Monetary Value |
| L808 Description | 30 (Any character) | Description |
| Description | 50 (Any character) | Description |
| Borrower's Total | 12.2 (Numeric) | Monetary Value |
| Seller's Total | 12.2 (Numeric) | Monetary Value |
| L809 Description | 30 (Any character) | Description |
| Description | 50 (Any character) | Description |
| Borrower's Total | 12.2 (Numeric) | Monetary Value |
| Seller's Total | 12.2 (Numeric) | Monetary Value | L810 Description | 30 (Any character) | Description |
| Description | 50 (Any character) | Description |
| Borrower's Total | 12.2 (Numeric) | Monetary Value |
| Seller's Total | 12.2 (Numeric) | Monetary Value |
| L811 Description | 30 ( Any character) | Description |
| Description | 50 (Any character) | Description |
| Borrower's Total | 12.2 (Numeric) | Monetary Value |
| Seller's Total | 12.2 (Numeric) | Monetary Value |
| L812 Description | 30 (Any character) | Description |
| Description | 50 (Any character) | Description |
| Borrower's Total | 12.2 (Numeric) | Monetary Value |
| Seller's Total | 12.2 (Numeric) | Monetary Value |
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