Separate Recording Tax and Transfer Tax fields provide customers with a much needed option to more precisely designate who pays these settlement tax types. This greatly improves accuracy of both Buyer and Seller Reports. For example, Washington, D.C. requires Seller pay all Transfer Tax and Buyer pay all Recording Tax.
No more starting over recreating loan options when revising reports. Now, you can simply edit the Amortization Term / Loan Program, Loan Type, and Downpayment Financed fields as needed in the saved Buyer Financial Loan Option. The Buyer Estimated Settlement Costs report is automatically updated to display up to four revised saved options in far less time with little effort. There is also the option to quickly generate a revised Buyer’s Estimated HUD-1 Statement report by simply modifying the 1st saved Loan Option.
WebSettlement Xpress users now have the added option to enter a percentage value of 100 or less in the “Deposit/Earnest Money” field in the Buyers linked property Main Information tab. Web Settlement Xpress automatically recognizes the entries less than 100 as a percentage to ensure report accuracy. This improves report accuracy in the Estimated Settlement Costs and Estimated HUD-1 Statement Buyer reports.
To see more of the changes we’ve discussed, log into WebSettlement Xpress now!