14.03 How do I enter a Par Plus fee from the lender to the mortgage broker (a/k/a Table Funding, Yie
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Select any line in the 800 section on the Loan Fees tab.
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Enter the description and amount of the fee in the Description field (for example, Par Plus $850 POC by 1st Bank), and select the mortgage broker as the payee.
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If the lender adds the mortgage broker's fee to the loan proceeds amount for the closing agent to disburse, enter the fee as a negative amount withheld, and select the appropriate loan in the Loan statement field.
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In the Reconciliation module, the mortgage broker's fee will be added to the loan proceeds, and a line item disbursement will be automatically created for the fee, payable to the mortgage broker.
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Select any line in the 800 section on the Loan Fees tab.
-
Enter the description and amount of the fee in the Description field (for example, Par Plus $850 POC by 1st Bank), and select the mortgage broker as the payee.
-
If the lender adds the mortgage broker's fee to the loan proceeds amount for the closing agent to disburse, enter the fee as a negative amount withheld, and select the appropriate loan in the Loan statement field.
-
In the Reconciliation module, the mortgage broker's fee will be added to the loan proceeds, and a line item disbursement will be automatically created for the fee, payable to the mortgage broker.