аЯрЁБс>ўџ ;=ўџџџ:џџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџьЅС` №ПRbjbjц‡ц‡ . „э„эR џџџџџџЄЄЄЄЄЄЄЄИ` ` ` ` l ИДЖ” ” ” ” ” ooo3555555$jhвьYЄ5oo55YЄЄ” ” лnяяя5RЄ” Є” 3я53яяЄЄя” ˆ АаcФFЦ` ‡я$„0ДяО HО яО Єя o2ЁHящдНxoooYYх oooД5555ИИИ„ < $ИИИ< ИИИЄЄЄЄЄЄџџџџ Exercise 8B: Settlement Preparation and Computation of the Settlement Statement The preparation and calculation of the Settlement Statement signifies the impending transfer. Two fact patterns are provided. Calculate the standard HUD1 Settlement Statement with net amounts of cash to and from borrowers and sellers noted. FACT PATTERN #1 Type of Loan: Conventional Name and Address of Borrower: John and Fredericka Rumbaugh, 18 Genner Street, Hickory Station, MD 22214 Name and Address of Seller: Estate of Anna M. Rupnik, 402 E. Dickson Street, Washington, DC 20756 Name and Address of Lender: First National Bank of New York, 1819 South Wayside Street, Washington, DC 20786 Property Location: 402 E. Dickson Street, Washington, DC 20756 Settlement Agent: American Title Insurance Co., 1418 E. 29th Street, NW, Washington, DC 20666 Contract Sales Price: $89,900 Deposit : $1,000 Commission: 5% = $4,495 Realtor: Hatteras Realty Loan Origination Fee: 1% = $750 Loan Discount: 2% = $1,500 Credit Report: $75 (paid outside of closing) Lender’s Inspection Fee: $100 Tax Service Fee: $35 Document Preparation Fee: $10 Date of Settlement: February 2, 2004 Interest from 1-19-95 to 2-1-95: 20.83/ day = 270.79 Mortgage Insurance Premium: 12 months = $375 Reserve Taxes: 8 months at $125/ month = $1,000 Reserve Mortgage Insurance: 2 months at $27.50/ month = $55 Title Insurance Binder: $10 Notary Fees: $10 Attorney’s Fees: $600 Title Insurance: $305 Recording Fees: $48 Releases: $3 (Seller) State Tax Stamps: $414 State Transfer Tax: $324.50 (paid from borrower’s funds only) Survey: $195 Federal Express Charges: $50 Appraisal Fee: $200 (paid outside of closing) FACT PATTERN #2 Settlement Agent: Marie F. Johnson, Attorney at Law, 1814 King Street, Salisbury, KY 44431 Type of Loan: Conventional Name of Borrower: Michael Kretzler, 945 Palm Street, Dorman, LA 56432 Property Location: 3752 State Street, Cannon, KY 44823 Name of Seller: Johnny LaRue Settlement Agent: same Name of Lender: Great Savings Bank of America, 457 W. Main Street, McDonald, PA 15046 Place of Settlement: Settlement Agent Date of Settlement: January 31, 2004 Contract Sales Price: $59,000 Earnest Money Deposit: $2,000 Real Estate Commission: 7%; split equally; totaling $4,130 Loan Origination Fee: 2 М points = $1,215 Credit Report: $27 Interest from 1/31 to 2/1: $14.62/ day = $14.62 Mortgage Insurance Premium: 12 months = $540 Hazard Insurance: 1 year = $217 Reserve Hazard Insurance: 2 months at 18.08/ month = $36.16 Mortgage Insurance: 2 months at 15.30/ month = $30.60 County Property Taxes: 6 months at $31.22 = $187.32 Title Insurance Binder: $10 Attorney’s Fees: $350 Title Insurance: $133 Recording Fees: $67.50 Releases: $8.50 (by borrower) State Transfer Tax: $1180 (split equally) Survey: $120 Pest Inspection: $15 Sewer Assessment: $37 (by buyer) Seller’s Home Equity Line Payoff: $9,884.60 Second Equity Line: $9,754.80 Sewer Assessment: $3.14 from 1/31 to 2/1/2004 Prepayment Fee for Early Mortgage Satisfaction: $528.54 (imposed on seller) PбE F R U W ( * v y КМШЫЬQRљяшошжбжшЩшХшСЙбЙСХh!V§h!V§5h!V§hN 6hN 6hN 6H* h!V§5hN 6hN 65hN 6hN 66] hN 6hN 6hN 6hN 65\ hN 65\PQабE F V W u н @ ­ ю L l € › З й і & E \ { Ђ з  њњњњњњњњњњњэњэњњњњњњњњњњњњњ „„№ё^„`„№ёgdN 6gdN 6R§ 6 s  Є М д ъ \lŠЛЬЭ(FŒХф§S{ЂТсњњњњњњњњњњњњјѓѓцѓцѓѓѓцѓѓѓѓ „„№ё^„`„№ёgd!V§gd!V§gdN 6сI_НпT‰ІОжя<Lc†Вв%Rњњњњњњњњњњњњњњњњњњњњњњњgd!V§,1hАа/ Ар=!А"А# $ %ААаАа а†œ@@ёџ@ NormalCJ_HaJmH sH tH DA@ђџЁD Default Paragraph FontRi@ѓџГR  Table Normalі4ж l4жaі (k@єџС(No ListR  џџџџPQабEFVWuн@­юLl€›Зйі&E\{Ђз6sЄМдъ\lŠЛЬЭ(FŒХф§S{ЂТс I _  Н п  T ‰ І О ж я  < L c † В в  % T ˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€˜0€€T {‰00ŸR  сR R №8№@ёџџџ€€€ї№’№№0№( № №№B №S №ПЫџ ?№џџ:ЋЧ)мСчЌЧ)lОR ­Ч)ЄFоЎЧ)ЌОR ЏЧ)Ф#" АЧ)dFоБЧ)ŒzВЧ)ЬzГЧ)Tˆ№ДЧ)”ˆ№ЕЧ)lмйЖЧ)ЌмйЗЧ)фя0ИЧ)Єя0ЙЧ)l/… КЧ)Ќ/… ЛЧ) ж| МЧ) мьНЧ)ЬльОЧ)Ье| ПЧ)œ0эРЧ)ќСЧ)Ф# ТЧ)м†ъУЧ)|iФЧ)оОХЧ)ДY; ЦЧ)фŒъЧЧ)ќыШЧ)Ќ:ьЩЧ)DпёЪЧ)4КьЫЧ)TzёЬЧ)ŒF ЭЧ) ( ЮЧ)4GоЯЧ)ќШаЧ)ѕОбЧ)”!вЧ)LŸьгЧ)Дъ дЧ),š= еЧ)Дn‰ жЧ)lFr зЧ)$ЏэиЧ)lм№йЧ)Ь{‰ кЧ)tЛлЧ)МбђмЧ)‹№нЧ)lŒоЧ)фЌмпЧ)ŒХg рЧ)сЧ)Œ тЧ)œяуЧ)фьфЧ)D5] ББУЫЫдз+7:ss}}˜ЄЇТТйхш7CF‘АЛ"jj{ƒ†ЁЁДМП##,,@JMT T [ L T      # !"$(%&')-*+,./0412357689СЪЪвжмм)59??{{–ЂІЌЌзучээ5AEKKЁЗС!''y…‹‹ВКОФФ**>HLRRZ i i P T    !"# $&'(%)+,-*./0234157689 =*€urn:schemas-microsoft-com:office:smarttags €PlaceName€=*€urn:schemas-microsoft-com:office:smarttags €PlaceType€>4*€urn:schemas-microsoft-com:office:smarttags €PostalCode€95*€urn:schemas-microsoft-com:office:smarttags€State€:9*€urn:schemas-microsoft-com:office:smarttags€Street€B *€urn:schemas-microsoft-com:office:smarttags€country-region€8*€urn:schemas-microsoft-com:office:smarttags€date€;:*€urn:schemas-microsoft-com:office:smarttags€address€88*€urn:schemas-microsoft-com:office:smarttags€City€97*€urn:schemas-microsoft-com:office:smarttags€place€ HУ; €1€19€1995€2€2004€Day€ls€Month€trans€Year:987854:985475:9854:9854:9854   :9854:9854:98547 :985477ЇЏДК ЇЏ`hоуT luT 3 FFRU““\\ˆˆ##++33llttvyЇЇъъ@@УУѓѓŒŒЗЗЯЯццggКQ T T хN 6!V§КЛМT џ@€6 6 ћ=№№6 6 R P@џџUnknownџџџџџџџџџџџџG‡z €џTimes New Roman5€Symbol3& ‡z €џArial"qˆ№аhkЃ&"kЃ& I Ui I Ui!№ ДД24§ § 2ƒQ№HX)№џ?фџџџџџџџџџџџџџџџџџџџџџN 62џџOExercise 8B: Settlement Preparation and Computation of the Settlement Statement Rick Hope Rick Hopeўџр…ŸђљOhЋ‘+'Гй0М˜№ќ(8 LX x „ œЄЌДфPExercise 8B: Settlement Preparation and Computation of the Settlement Statement Rick HopeNormal Rick Hope2Microsoft Office Word@Œ†G@тэфУFЦ@Д7PФFЦ I ўџеЭеœ.“—+,љЎ08 hp|„Œ” œЄЌД М фiU§ и PExercise 8B: Settlement Preparation and Computation of the Settlement Statement Title ўџџџўџџџ !"#$%&'()ўџџџ+,-./01ўџџџ3456789ўџџџ§џџџ<ўџџџўџџџўџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџRoot Entryџџџџџџџџ РF ТдcФFЦ>€Data џџџџџџџџџџџџ1TableџџџџО WordDocumentџџџџ. 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