DoubleTime

DoubleTime® 8.3 - Upgrade

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6/26/2015
  • Open the Closing Statements module.
  • From the Reports menu, select the Buyer's Closing Statement or the Seller's Closing Statement and click the Print icon.

6/26/2015
  • Open the Closing Statements module.
  • From the Reports menu, select the Recording Worksheet and click the Print icon.
  • If using the CD as the Settlement Statement, the Recording Calculator must be accessed first before the Recording Worksheet report will be available. You can access the Recording calculator on Page 2 of the CD.

6/26/2015
  • Open the Closing Statements module.
  • From the Reports menu, select the Proration Worksheet and click the Print icon.

6/26/2015
  • The Buyer/Seller Closing Statement is a HUD format that uses the word Buyer instead of Borrower.
  • To select the Buyer/Seller Closing Statement, open the Closing Statements module.
  • From the Reports menu, select Buyer/Seller Closing Statement and click the Print icon.

6/26/2015
  • From the Preferences menu, select User Settings.
  • On the HUD tab, select the "No" button under "Show Initial Boxes".
  • Exit the module and save changes.

6/26/2015
  1. Highlight the specific line on the GFE HUD
  2. Change the field labeled GFE tolerance located at the bottom (left) of the window

    NOTE: If the tolerance you need is not listed then it cannot be accomplished for this line.

6/26/2015
  1. Highlight the specific line on the GFE HUD
  2. Change the field labeled GFE tolerance located at the bottom (left) of the window
  3. Toggle between the options listed in the dropdown to determine which setting allows you to show the charge on the sellers’ side. As you toggle through the options you will either see the charge carry over to the sellers’ side (from the buyers) or a line on the sellers' side will become available for you to enter the charge amount

6/26/2015
  1. The Closing File must show that the broker is holding the deposit on the Deposit tab.
  2. Enter the commissions as normal in the 700 section.
  3. On the commission line for the broker holding the deposit (701 or 702), enter the amount they are withholding from the deposit in the 'Amount Withheld' field.

    NOTE: You cannot withhold more than the Commission amount or Deposit amount. In the 'Deposit Held By' field, select the Deposit you wish to withhold the amount from.
  4. This will reduce the deposit on the Balance Sheet and reduce the amount of the broker’s commission check by the withheld amount.

6/26/2015
  1. If using a HUD or GFE HUD, use a line in the 700 or 1300’s section. If using a CD, use a line in Section H.
  2. Enter the amount of the contribution on the appropriate side (buyer’s or seller’s) as a negative amount in field labeled Paid From Funds, (the Payee should reflect the Buyer/Seller or it should be left blank. In this case, the Broker is giving the credit therefore they are the Payor not the Payee.). This will reduce the amount the buyer or seller funds.
  3. On the balance sheet, combine the negative amount with the broker’s commission check to reduce the amount of their check

10/28/2015
  • On Page 2 of the CD, access the "Title Premium Allocation" calculator on the secondary toolbar.
  • On the Loan Policy tab, change the Payor field to "Split B/S" for a split between the borrower and seller. DoubleTime will default a 50/50 split.
  • Change the Seller amount to the Variance Amount that is shown on the TRID Variance tab of the calculator.
  • Set the Trans. Type* below the Seller Amount field to "TRID Variance Adjustment" and click OK to close the calculator. The Lender's policy amount will now be split between the Borrower and Seller Paid at Closing fields and a blue line detail indicator will display for the row. 
  • *Setting the Transaction type will allow you to run the ALTA Settlement Statement reports with Florida Promulgated rates.
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