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      Configuring Fees in Settings - Fee and Escrow Types for Disclosures

      This article will walk through the steps for a system admin to default fees for a LE in the Disclosure tab of LendingPad.

       

      Important Notes:

      • To setup a SPL list, go to Print Forms, find "Settlement Service Provider List" and go into Custom tab to enter your preferred SPL vendors.  
      • Page 1 of Loan Estimate for refinances - "Estimated Property Value", LendingPad will populate the appraisal value in the system.  Once user uploads appraisal xml, system will update the appraisal value according to the appraisal report, and change the appraisal value type to "Final".  
      • The LendingPad system always assumes Loan Discount Points are bona-fide points. 
      • Disclosures → Revisions will start tracking changes in fees if there is an application date and the status passes "initial application taken".
      • LendingPad will load a list of default fees to Settings → Fees and Escrow Types screen.  This screen will then populate these fees to each loan record.
      • All conditions entered for fee items should be mutually exclusive. 
      • For any fees without any specific condition will take the least precedence.
       
      Step-by-step guide
      This article will walk the system admin through the steps of setting up default fees for a LE in the Disclosure tab of LendingPad.