Providing the Closing and Title Industry vertical market computer support
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Things To DoProducts | New Softpro Documents
These Documents are currently only in Word Merge Format. The Closing Discosure and Notice of CPC will be converted to RdyDocs format soon. Preorders for RdyDocs are being taken now. Sample Documents available Notice of OTI Availability Orc 3953.23 The most interesting thing about this document is that it auto populates all fields. This is a merge and print document, no thinking is required. Just merge and print.
It automatically Calculates the Owners Policy Amount, so there is no charts, calculators, or lookups. (The Lenders amount would already be and needs to be figured in SoftPro.) This amount printed is the straight cost of the Owners policy without any endorsements.
To make the Math easier on the closer, I've added a third page to this document titled Closer Reference Sheet. It prints the Premium Due for a Standard Simultaneous Issue Policy (Owners Premium + $100 - Loan Premium ) I've also included the Premium due for a homeowners title policy (Eagle or Star) which is calculated as ( Owners Premium Plus 15% ) - Loan Premium + $150. ($50 for survey, $100 for simultaneous)
As always, please verify the calculations are working and generating the numbers that you expect.
I see an minor issue with this document when the Loan coverage is higher than Sales price. What it says is still true (mostly) but it's a bit misleading. It doesn't cover the additional amount for the Loan being higher. This is a verbiage issue not a calculation issue, the $100 was hard coded. Closing Disclosure 2006 Orc 1345.031(B)(8) The Closing Disclosure needs signed first at the closing table. This is a rather straight forward document. It Prints a simple Closing Disclosure, it includes up to 9 borrowers, with signature lines formatted like the sample document.
As expected with Documents from VF Information, LLC, the document header is highly formatted, if items need to wrap, they will do so indented with the preceding line
* Focus on the document Buyers print the Buyer "and" field Lender's name will wrap indented Property City State Zip will wrap indented Prints up to 9 Signature Lines (Field is {{ByrSigB?}}) Notice of Closing Protection Letter This Document Prints 3 Different Ways Buyers Only if no seller exists Buyers and Sellers on a Cash Deal Borrowers and Sellers on non Cash Deal. It also prints
an Offer of Closing Protection Coverage for each, in order.
For most files, up to 4 signatures will appear on a single page. If the signature lines need to split across pages, that split will happen with the line starting I (We), the undersigned.
The Footer for that second page (signatures) will appear like this.
OH-24.1 Signature Page made part of page 1 Page 1 (continued) of 2 01/01/2007
This document Prints Signature lines side by side:
Signed:______________ Signed: ___________________ Printed Name:Party One Printed Name:Party Two
If there is an uneven number of sellers a blank signature line will print on the right side. Up to 4 name will currently print on this document. Of course If you're happy with the standard SoftPro signature block (we are not) we can incorporate that for you at no charge.
If the File is marked cash sale the Grantee's name will appear under buyer, otherwise it will print under borrower. For Refi's the Seller's pages do not print.
Since these Word Merge Documents are generally formatted to allow many pages to be merged into one word document. (ie. No check mark on "Merge as separate Documents" in SoftPro) the first page will be blank. After the merge simply hit delete one time, which will remove the blank page. Or I can remove this feature for you. | |
| e-mail : danw at vfinfo.com |