DoubleTime® 8.3 - Upgrade

Start using the newest features today!

Windows 10 Compatible

Download Now

14.03 How do I enter a Par Plus fee from the lender to the mortgage broker (a/k/a Table Funding, Yield Spread Premium, or Differential)?

  • Select any line in the 800 section on the Loan Fees tab.
  • Enter the description and amount of the fee in the Description field (for example, Par Plus $850 POC by 1st Bank), and select the mortgage broker as the payee.
  • If the lender adds the mortgage broker's fee to the loan proceeds amount for the closing agent to disburse, enter the fee as a negative amount withheld, and select the appropriate loan in the Loan statement field.
  • In the Reconciliation module, the mortgage broker's fee will be added to the loan proceeds, and a line item disbursement will be automatically created for the fee, payable to the mortgage broker.