As the Web Settlement Xpress Product Manager, I am happy to share with you some recent updates to Web Settlement Xpress!
To start, look through the updated Help tab to find user-friendly and easy-to-follow versions of the “Quick Reference Guide” and “Cross Reference Guide”. A new auto-populate feature is available in Web Settlement Xpress. In the Sellers tab, add a new Seller, then select “Add New Property to auto-populate the listing address with the Seller’s property address. This is an excellent feature in minimizing data entry! Most importantly, we have updated calculations to ensure report accuracy. The Buyers Financial Loan Option for FHA Minimum Down Payment has the default rate at 3.5%, but note that you still have the ability to edit the rate to fit the FHA loan requirements for a given borrower. The FHA Monthly MIP/PMI Premium rate now defaults to the current rate of .9%. Reimbursement of Taxes is now consistently the same figure in reports based upon multiple Financial Loan Options, including the same settlement date, but using a different loan amount for each loan option for the subject property.
In addition to the helpful reminders and hints in Web Settlement Xpress, the Property Main Information tab displays the reminder – “List Price and Settlement Date fields must be completed to generate reports and display tax amounts”.
For any other suggestions regarding Web Settlement Xpress, I am happy to listen to your thoughts and opinions below!