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Calyx Software Knowledgebase


2205 Completing the Closing Disclosure


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Closing Disclosure

The Closing Disclosure screens are used to satisfy the TRID compliance requirements for disclosure of fees. Much of the data on this screen is populated from the corresponding fields and calculations on the Closing Costs Worksheet and Truth-In-Lending screens.

The Closing Disclosure comprises five screens in Point. Many of the fields are populated from data on other screens. Additional information is collected on the Payoffs and Payments screen which is accessed by clicking the Payoffs & Payments button at the bottom of any Closing Disclosure screens.

An addendum page is printed when multiple co-borrowers and sellers are on the loan, or if there is not enough space on pages 3 and 4 of the Closing Disclosure to print the charges, credits, and descriptions.

To complete the Closing Disclosure:

  1. Open a borrower file.
  2. Open the Closing Disclosure from the Forms menu or the shortcut toolbar.



  3. Enter or edit the Date Issued, Closing Date, and Disbursement Date.
  4. Review the data to ensure accuracy.
  5. Review the remaining pages and edit the data as needed. Refer to the mapping tables for field sources.
  6. Click the Pg 2 button to view a breakdown of the fees.
  7. Note: To flag the fees in section H as (Optional), select the Optional check boxes on the Closing Costs Worksheet that corresponds to the optional fees.

  8. Click the Pg 3 button and complete the Calculating Cash to Close section.



  9. Attention: The data from the following fields on this screen are used for UCD XML export purposes only and are not included on the printed Closing Disclosure:

    • POC check boxes
    • Paid by
    • Type
    • Name

    If the response is Yes to Did this change? for any item, the corresponding check boxes are enabled.

    Select the check boxes that apply to this loan and complete the applicable fields.

  10. Complete section K in the Borrower's Transaction column.



  11. The Due From Borrower at Closing, Sale Price of Property, and Closing Costs Paid at Closing fields are calculated based on data entered on other screens.

    1. Enter the amount the borrower paid for personal property purchased from the seller in the Sale Price of Any Personal Property Included In Sale field.
    2. Select an additional payment from the dropdown list below the Closing Costs Paid at Closing field or enter the payment type in the field, select the payer from the Paid By dropdown if the item is paid outside of closing, and enter the amount.
    3. If this item is paid outside of closing, mark the POC checkbox.
    4. Repeat steps a through c for each additional adjustment.
    5. Enter the Adjustments For Items Paid by Seller in Advance.
      1. Enter the start date, end date, payee, and amount for the fees already paid by the seller for City/Town Taxes, County Taxes, and Assessments.
      2. Select additional items paid by the seller from the dropdown list or enter the adjustments directly into the field.
      3. Enter the start date, end date, and amount for each additional adjustment.
  12. Complete the Paid Already by or on Behalf of Borrower at Closing section.



  13. The Paid Already by or on Behalf of Borrower at Closing, Deposit, and Loan Amount fields are calculated based on data entered on other screens.

    1. Enter the value of any outstanding loans in the Existing Loan(s) Assumed or Taken Subject to field.
    2. Select an additional payment from the dropdown list below the field or enter the payment type in the field, select the Type of payment, and enter the amount.
    3. Enter Other Credits.
      1. Select an option from the dropdown list or enter the credit directly in the field.
      2. Enter the payer in the Paid By field, enter the Amount, and select the POC check box if the credit was paid outside of closing.
    4. Enter any Adjustments.
      1. Select an option from the dropdown list or enter the credit directly in the field.
      2. Enter the payer in the Paid By field, enter the Amount, and select the POC check box if the credit was paid outside of closing.
  14. Enter Adjustments For Items Unpaid By Seller.
    1. Select an option from the dropdown list or enter the credit directly in the field.
    2. Enter the payer in the Paid By field, enter the Amount, and select the POC check box if the credit was paid outside of closing.
  15. Select the Exclude From Printed Form check box in the Seller's Transaction column to omit seller data from the printed Closing Disclosure. Typically used for refinance loans.



  16. Complete the Due to Seller at Closing section.
  17. The Due To Seller at Closing and Sale Price of Property fields are calculated fields based on data entered on other screens.

    The Sale Price of Any Personal Property Included in Sale and Adjustment For Items Paid by Seller in Advance fields are automatically populated with the data entered in the Borrower's Transaction column.

    For additional funds due to the seller, select the payment from the dropdown list or enter the payment in the field, enter the amount, and select the POC check box if the payment was made outside of closing.



  18. Complete the Due from Seller at Closing section.


  19. The Due from Seller at Closing and Closing Costs Paid at Closing (J) fields are calculated fields based on data entered on other screens.

    The Adjustments For Items Unpaid By Seller fields are automatically populated with the data entered in the Borrower's Transaction column.

    1. Enter the amount of any Excess Deposit.
    2. Enter the value of any outstanding loans in the Existing Loan(s) Assumed or Taken Subject to field.
    3. Enter the amount to payoff the first mortgage in the Payoff of First Mortgage Loan field.
    4. Enter the amount to payoff the second mortgage, if applicable, in the Payoff of Second Mortgage Loan field.
    5. Select additional funds due from the dropdown lists or enter the funds in the field and enter the amount.
    6. Enter Seller Credits.
      1. Select an option from the dropdown list or enter the credit directly in the field.
      2. Enter the payer in the Paid By field, enter the amount and select the POC ceck box if the credit was paid outside of closing.

    The amount due from the borrower and due to the seller are calculated and displayed in the Calculation section.

    Refer to the mapping tables for field sources.

  20. Click the Pg 4 button to complete the Loan Disclosures section on page 4.


    1. Select the applicable check boxes for the Assumptions and Demand Feature.
    2. If the loan is subject to a late payment fee, specify the number of days, the amount (dollar or percentage), and, if percentage, the basis for calculating the late fee.
    3. If the loan has a negative amortization, the Negative Amortization fields are enabled. Select the applicable check boxes.
    4. Select the applicable check box in the Partial Payments section.
    5. Select the applicable check box in the Escrow Account section and complete the applicable fields for the selection.
      1. Select the will have escrow account if an escrow account will be used, otherwise, select the will not have an escrow account because check box and select the subsequent reason.
      2. The number in the Months left for Property Costs in Year 1 dropdown list can be adjusted to reflect the number of months remaining in the year after consummation.
  21. Click the Pg 5 button.
    1. Complete the Other Disclosures section.


    2. Select the Liability after Foreclosure check box to indicate that the borrower is protected under state law for liability if foreclosure occurs.
    3. If the check box is not selected, the statement State law does not protect you from liability for the unpaid balance is printed on the form.

    4. Select the Confirm Receipt check box to include a signature line on the printed form.
    5. If the check box is not selected, a line for the borrower’s signature is not included on the printed form.

    Refer to knowledge base article 2200 Completing the Payoffs and Payments screen for details about the Payoffs and Payments screen.




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Last Modified: 3 Months Ago
Last Modified By: cswms
Type: Loans
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