Staying in balance with the Closing Disclosure
DoubleTime®’s Balance Sheet module uses figures from ‘Page 2 – Closing Costs Details’ and ‘Page 3 – Summaries of Transactions’ of the Closing Disclosure to track incoming and outgoing funds for the transaction. It is important to access these pages of the CD in the Settlement Statement module prior to opening the Balance Sheet. This allows DoubleTime® to use all figures when determining if Total Deposits and Total Disbursements match.
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Understanding DoubleTime’s Title Insurance charges on the Closing Disclosure
The Title Insurance figures you see in the Closing Disclosure are automatically populated by DoubleTime® and are based on the TRID Rating rules for showing policies and endorsements charges. These figures will differ from what is displayed in the Rating module. That is because the Rating module in DoubleTime® displays the Florida Promulgated rates for policies and endorsements. DoubleTime® uses those figures from the Rating module to calculate the TRID rates for you.
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