Objective
To establish a clear and efficient process for creating, modifying, and managing settlement fee templates to ensure accurate and consistent fee representation for various transactions across different states.
Key Steps
Access Settlement Fee Templates
Navigate to the settlement fee template section of the system.
Select State and Template Type
Use the drop-down menus to select the appropriate state and whether the template is for a purchase, refinance, or second mortgage.
View Existing Templates
Click on "View Templates" to see the available templates for the selected state and type.
Clone a Template
Identify a standard template that closely matches your needs.
Click on "Clone Template" to create a copy for modification.
Modify Fees
Review the cloned template and:
Delete any fees that are not applicable (e.g., closing fee if using an attorney fee).
Add necessary fees from the database (e.g., attorney fee, e-file fee).
Adjust fees as necessary based on your preferred rates or any changes from your service providers.
Organize Fees
Arrange the fees in the order they should appear on the PDF and within the system.
Use the drag-and-drop feature to move fees to the desired position.
Add Notes (Optional)
Include any relevant notes for future reference or clarification.
Finalize Template
Click on "Template Complete" to save your changes.
Ensure the new template is in the correct position for easy access during future transactions.
Regularly Update Fees
Periodically review and update fees to reflect any changes from attorneys or title companies.
Reach Out for Support
If discrepancies are noted in the title insurance fees or other areas, contact the support team for assistance.
Cautionary Notes
Ensure that any changes made to fees comply with industry standards and regulations.
Be cautious when deleting fees; verify that they are not required for the transaction type.
Always double-check the final template before use to avoid errors in fee representation.
Tips for Efficiency
Familiarize yourself with the common fees and their standard amounts in your state to speed up the template creation process.
Keep a list of frequently used fees and their amounts for quick reference.
Utilize the cloning feature to minimize the time spent on creating new templates from scratch.
Regularly schedule time to review and update your templates to ensure they remain current and accurate.