| 1. |
Information set up for Costs & Escrow Reserves used in Mortgage Office is also used in
WebApp software. |
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| 2. |
Using Costs & Escrow Reserves, I project a total PITI payment. |
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| 3. |
Fields 903, 904, and 905 are based on a percentage of the loan amount. |
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| 4. |
Even though the data pulled in Costs & Escrow Reserves is automatic, the data can be
modified. |
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| 5. |
I set up Costs & Escrow Reserves by either state and county, master, or product. |
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| 6. |
Fields 1004, 1005, and 1006 used for property tax are based upon the percentage of the
appraised value. |
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| 7. |
Costs & Escrow Reserves computes and displays data in Could I Qualify, Good Faith
Estimate, and the HUD Settlement Statement. |
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| 8. |
Fields 1101C, 1103, and 1104 can be a set dollar amount or a set rate per thousand. |
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| 9. |
When I enter the property address and county, the Costs & Escrow Reserves information for the
loan is computed and fields are automatically populated. |
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| 10. |
To complete the Good Faith Estimate, all I have to enter is the borrower's name, select a product,
enter the property address and select the county. |
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