14.18 How do I show the broker holding commission from a deposit on a HUD or GFE HUD?

The Closing File must show that the broker is holding the deposit on the Deposit tab.
Enter the commissions as normal in the 700 section.
On the commission line for the broker holding the deposit (701 or 702), enter the amount they are withholding from the deposit in the 'Amount Withheld' field.

NOTE: You cannot withhold more than the Commission amount or Deposit amount. In the 'Deposit Held By' field, select the Deposit you wish to withhold the amount from.
This will reduce the deposit on the Balance Sheet and reduce the amount of the broker’s commission check by the withheld amount.

The Closing File must show that the broker is holding the deposit on the Deposit tab.
Enter the commissions as normal in the 700 section.
On the commission line for the broker holding the deposit (701 or 702), enter the amount they are withholding from the deposit in the 'Amount Withheld' field.

NOTE: You cannot withhold more than the Commission amount or Deposit amount. In the 'Deposit Held By' field, select the Deposit you wish to withhold the amount from.
This will reduce the deposit on the Balance Sheet and reduce the amount of the broker’s commission check by the withheld amount.

06/26/2015