Configuring Fees in Settings - Fee and Escrow Types for Disclosures


This article outlines some of the frequently asked questions regarding LE entries as well as on how to default fees for an LE / Disclosure tab.  

  • 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".  
  • 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.
    • To add fees, click on "Add Fee and Escrow Types".  You can then add different fees to each category.
  • This screen lists all MISMO defined fee types, should you not be able to find what you need, you can use "Create New Fee and Escrow Type" button to create a new option.
  • To edit fee types, go into each fee by click on the Edit button to the left of the fee types.

To change if this fee type will show as a default or any of the fee's settings - including "APR" or QM's "Included in Points and Fees" test settings, check / un-check the default option inside of each fee type configuration screen as shown below.  System always assumes Loan Discount Points paid are bona-fide points.

You can also change the default condition upon which the default amount should be applied.   The following screens will appear for you to configure default conditions.  This is similar to the "template" concept in other systems.  These default fees can change by loan type, lender, loan amount, status, property state, program fixed/arm, purpose etc.  All conditions entered for fee items should be mutually exclusive.  For any fees without any specific condition will take the least precedence.


Section E - Taxes and Other Government Fees

Loan Estimate generated via LendingPad will total up numbers in all lines

  • starting with the word - "Recording Fees" in Section E of Disclosure/Fee screen to "Recording Fees and Other Taxes" on the LE form and
  • containing the word - "Transfer Tax" in Section E of Disclosure/Fee screen to "Transfer Taxes" line on the LE form.    

If you do not see the defaulted recording fees or transfer taxes fee types that fit in your case, it is suggested that you use the "Create New Fee and Escrow Type" button as shown on top to create these two types of fees in Section E and use them accordingly to show up in LE form.