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The Fees panel may be assigned to an Application screen to allow users to add and maintain application and processing fees for a loan while completing the underwriting review process.

The grid within this panel displays a list of the application's fees in the following columns:

Column	Description
Name	Displays the name of the fee. This is an editable field that allows users to select a fee type from a drop-down list. This list contains the values configured for the FEE_CODE lookup in System Management > Origination > Field Configurations.
Actual Amount	An editable field allowing users to indicate the fee amount.
Finance Charge	Displays a checkbox that indicates whether a fee is to be paid out-of-pocket by the borrower. Select the check box to identify that the fee is to be prepaid.
Included in Loan Amount	Displays a checkbox that indicates whether a fee is to be included in the loan amount. Select the check box to include the fee in the loan amount.
Included in Military APR	Displays a check box that indicates whether a fee for a close-ended loan is to be included in the Military APR (MAPR) calculation. Select the check box to include the fee in MAPR calculation. While the Included in Military APR column appears in the Fees panel for all application types, MAPR is only calculated for close-ended loans.

                           

Home Equity Fees Panel

When the Real Estate Type field for the Sub-Product is set to Home Equity within the General tab in System Management > Origination > Loan > Loan Application Types, the Fees panel populates with additional columns of information to capture the fee details specific to Home Equity products, such as Closing Costs.

The grid within this panel displays a list of the application's fees in the following columns:

Column	Description
Name	Displays the name of the fee. This is an editable field that allows users to select a fee type from a drop-down list. This list contains the values configured for the FEE_CODE lookup in System Management > Origination > Field Configurations.
Estimated Amount	An editable field that allows users to indicate the estimated fee amount for the service.
Actual Amount	An editable field that allows users to indicate the actual fee amount being paid.
Finance Charge	Displays a check box that indicates whether a fee is to be paid out-of-pocket by the borrower. Select the check box to identify that the fee is to be prepaid.
Included in Loan Amount	Displays a check box that indicates whether the fee is to be included in the loan amount. Select the check box to include the fee in the loan amount.
Included in Military APR	Displays a check box that indicates whether a fee for a closed-end loan is to be included in the Military APR (MAPR) calculation. Select the check box to include the fee in MAPR calculation. While the Included in Military APR column appears in the Fees panel for all application types, MAPR is only calculated for close-ended loans.
POC Amount	An editable field that allows users to indicate the amount to be paid outside of closing.
Closing Amount	An editable field that allows users to indicate the amount to be paid at closing.
Payable To	An editable field that allows users to select the company to whom the fee is to be paid from a drop-down list. This list contains the companies configured by the system administrator in System Management > Address Book > Companies.
Customer Selected	Displays a check box that indicates whether the applicant selected the provider/vendor to be used for the service. Select the check box to identify that the applicant selected the provider/vendor identified within the Payable To column. If the Fee type is configured to validate that the estimated amount and actual amount for a particular fee does not exceed 10% of the tolerance, selecting this field overrides that validation. The configuration to validate that the estimated amount and actual amount for a particular fee does not exceed 10% of the tolerance is made in System Management > Origination > Field Configurations by setting the value of the Total Cannot Exceed 10% column in the FEE_CODE lookup to "Yes" for the fee type.
Paid By	An editable field that allows users to select the party responsible for paying the fee, either Borrower, Lender, or Seller. This list contains the values configured for the FEE_PAID_BY lookup in System Management > Origination > Field Configurations.

Adding and Deleting Fees

In addition to displaying fees, users are able to perform the following actions within the Fees panel:

Icon	Description
	Allows a user to add a fee to the application. When a fee is added, a new row is added to the Fees grid.
	Allows a user to remove a fee from the application. When a fee is deleted, a row is removed from the Fees grid.

Adding Fees

To add a fee within the Fees panel:

• Click  to populate a new row in the Fees grid.
• Click within the Name column to select the desired fee type from the available fees list.
• In the Actual Amount column, enter the corresponding fee amount.
• Select the corresponding check boxes to indicate if the fee is Finance Charge or Included in Loan Amount.
• If the application is for a close-ended loan, and the fee should be included in the MAPR calculation, select the Included in Military APR check box.
• Once all columns are complete, click  to retain the fee.

To add a fee within the Home Equity Fees panel:

• Click  to populate a new row in the Fees grid.
• Click within the Name column to select the desired fee type from the available fees list.
• Enter the corresponding fee amounts within the Estimated Amount and Actual Amount columns.
• If applicable, select the Finance Charge or Included in Loan Amount check boxes.
• If the application is for a close-ended loan, and the fee should be included in the MAPR calculation, select the Included in Military APR check box.
• Within the POC Amount and Closing Amount columns, enter the corresponding fee amounts.
• Click within the Payable To column and select the company who is to receive the fee.
• If applicable, select the Customer Selected check box.
• To identify the party responsible for paying the fee, click within the Paid By column and select Borrower, Lender or Seller.
• Once all columns are complete, click  to retain the fee.

Deleting Fees

Select the fee that is to be removed and click .

 

 

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