Additional Information for TILA-RESPA Transactions

Figure 1. The Product Setup > Fees - TERMS Tab

The Display Sequence column determines the order in which fees appear on the Loans In Process > Terms > Fees tab. The Display Sequence column only applies to transactions with an application date of 10/3/2015 or after.

Editing Fees

To edit the information for a fee, click Edit on the Fees tab.

Figure 2. Editing Fees

The following TILA-RESPA related fields appear on the Fees - TERMS tab:

Section Type

This field defines which section the fee prints in of the Integrated Disclosures. The selected value for the Section Type at the main level fee defaults to all product fees tied to it. You can modify the individual selection at the product level. The system retains any modified selections for the product type until the main fee is modified again.

Fee Subject To 10% Cumulative Tolerance

If the Fee Subject To 10% Cumulative Tolerance check box is selected, it defaults as selected for the fee in Loans In Process > Terms > Fees.

Fee Subject To 0% Tolerance

The Fee Subject To 0% Tolerance check box is available for main fees. Selecting this check box for main static fees pre-fills the check box for all product types. Institutions can maintain the selection on individual product fees tied to the main fee. If the selection is modified again at the main fee level, then it pre-fills all product fees tied to the main fee again. For user-defined fees, this check box does not pre-fill from main fees. The Allow Override check box is available next to Fee Subject To 0% Tolerance. This check box determines if Fee Subject To 0% Tolerance can be modified on the Terms > Fee Edit tab.

Note Only the Fee Subject To 10% Cumulative Tolerance or the Fee Subject To 0% Tolerance field can be selected. Both check boxes cannot be selected at the same time.

Allow Override

The Allow Override check box is automatically selected when a fee is first edited. Any modifications are retained for future edits. When the Allow Override check box is selected for the Fee Subject To 10% Cumulative Tolerance field, users can modify the Fee Subject to 10% Tolerance field on the Loans In Process > Terms > Fees tab. If Allow Override is not selected, the Fee Subject to 10% Tolerance field is unavailable and does not allow modifications. The same logic applies to the Fee Subject To 0% Tolerance field.

Title Fee

This field indicates if the fee is a title fee. When selected, Title prints before the fee description.

Optional Fee

This field is only available when the Section Type field value is Other Charges. This field indicates if fee is an optional fee. When selected, option prints after the fee description. This fee typically discloses premiums paid for separate insurance (just as credit life debt suspension owner's title policy), warranty guarantee, or event coverage product imposed by the creditor or loan originator.

Escrow Type Fee - Not Escrowed

This field defines the fees that print Escrow No in the Estimated Taxes, Insurance & Assessments section of the Integrated Disclosures.

This Fee Will Have An Escrow Record

The This Fee Will Have An Escrow Record field appears if the Escrow Type Fee - Not Escrowed check box is selected for the fee.