The estimated settlement fees are compiled from two documents: the Closing Corp. SmartFees printout and the estimated settlement/closing statement from the escrow/title company. While the SmartFees printout will appear in the same format each time, the estimated settlement statement from escrow/title will look different as each company uses different software. The draft includes the costs and credits associated with buying or refinancing a home and shows a borrower their estimated total costs.
Context: Identifying the document.
Document title
Key takeaways: Important information.
Lender’s Title Insurance Policy and Owner’s Title Insurance Policy Fees
Lender’s and Owner’s Endorsements
Settlement or Closing Fee
Recording Fees
Transfer Taxes (Purchases only)
Loan amount
Notes on SmartFees:
At initial disclosure, these fees should not be changed. The fees on the SmartFees printout should match in the 1100 and 1200 sections of the 2015 Itemization form in Encompass.
Context: Identifying the document.
Document title
Key takeaways: Important information.
Earnest Money Deposit (EMD) and Loan Amount
Escrow/Title Settlement Fees
Transfer Taxes (Purchases only) and Recording Fees
Buyer’s Real Estate Agent Transaction Fee and Seller-Paid Owner’s Title Policy
