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14.07 How do I make the Lender name and Payoff amount show on the HUD?

  • Open the Closing File module and select the Loans tab.
  • Click the Insert icon. Select the Lender from the Search Contact list and click OK, or enter the name of the new lender and click Add Contact.
  • Select Payoff as the Status, then select the Priority.
  • Exit the Closing File module and save changes.
  • Open the Settlement Statements module and select the Buyer Credits tab.
  • To add a payoff amount, double-click Line 504 or 505 in the HUD-1 to access the Payoff Calculator. Note: The Payoff Calculator is also available on Lines 1501 and 1502 of the HUD-1A.
  • Enter the mortgage balance, late fees, per diem interest, and other miscellaneous fees associated with the payoff.
  • You can click the Print button to print the details of the Total Payoff Amount.
  • Close the Payoff Calculator by selecting OK, and the payoff amount will be displayed on Line 504 or 505.