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20120220 Cfpb Basswood Settlement Disclosure

20120220 Cfpb Basswood Settlement Disclosure

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Published by Richard Vetstein
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Published by: Richard Vetstein on Feb 22, 2012
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04/27/2014

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Projected PaymentsLoan Terms
Can this amont increase ater closin?Loan Amont
$216,500
NO
Interest Rate
4.375%
 
YES
Adjusts
every three years
startig i year 6
Ca g
as hih as 8%
i year 9
See
AIR table on pae 4
r details
Monthly Principal & Interest
See Projected Payments Below or Your Total Monthly Payment 
$789.32 
YES
Adjusts
every three years
startig i year 6
Ca g
as hih as $1,664
i year 9
Icludes
interest only
ad
no principal
util year 6
See
AP table on pae 4
r details
Does the loan have these eatres?Prepayment Penalty
NO
Balloon Payment
NO
Closin Costs
Cash to Close
$29,826.23
Clsig Csts iclude
$6,409.00
i Settlemet Fees.See details  page 2.
SETTLEMENT DISCLOSURE PAGE 1 OF 5
LoAn ID # 1330172608
Payment CalclationYears 1-5Years 6-8Years 9-11Years 12-30
Pricipal & IterestMrtgage IsuraceEstimated Escrw
 Amount Can Increase Over Time
$789.32
+
164.18
+
699.50$1,266 mi$1,582 max
+
164.18
+
699.50$1,266 mi$1,664 max
+
164.18
+
699.50$1,266 mi$1,664 max
+
+
699.50
Estimated TotalMonthly Payment
$1,653.00$2,130  $2,446$2,130  $2,528$1,966  $2,364
Escro Inormation or Taxes,Insrance & Assessments
 Amount Can Increase Over TimeSee Details on Page 4
$842.09
a month
 
Escrow.
Yur escrw paymet cvers the taxes, isurace &assessmets listed i Secti G  page 2. Yu must pay rther prperty csts separately.
 
No Escro.
Yu must pay all  yur taxes, isurace &assessmets separately rm yur la paymets.
xTRANSACTION INORMATION
BORROwER
 
James White ad Jae Jhs
 
123 Aywhere Street, Apt 678
 
Aytw, TX 12345
SELLER
Jh Wils123 Smewhere Drive
 
Aytw, TX 12345
LENDER
Basswd Bak 
LOAN INORMATION
LOAN TERM
30 years
 
PuRPOSE
 
Purchase
PRODuCT
 
5 Year Iterest oly,5/3 Adjustable Rate
LOAN TYPE
 
Cvetial FHA
 
VA _____________
LOAN ID #
 
1330172608
MIC #
56789
SETTLEMENT INORMATION
DATE
 
2/21/2012
AgENT
ABC Settlemet
ILE #
 
01234
PROPERTY
 
456 Aveue A
 
Aytw, TX 12345
SALE PRICE
 
$240,000
x
This orm is a statement o fnal loan terms and closing costs. Compare thisdocument with your Loan Estimate.
Settlement Disclosre
 
Settlement eesSettlement Costs
SETTLEMEnT DISCLoSURE
PAGE 2 OF 5 •
LoAn ID # 1330172608
Borroer-PaidSeller-PaidPaid byOthers
At ClsigBere ClsigAt Clsig Bere Clsig
A. Oriination Chares $2,850.00
01%  La Amut Pits02Brker Fee t Friedly Mrtgage Brker, Ic. by Leder$4,330.0003Desk Review Fee$150.0004LaorigiatiFee$1,000.0005Prcessig Fee$300.0006Rate Lck Fee$525.0007Uderwritig Fee $800.0008VericatiFee$75.00
B. Services Borroer Did Not Shop or $900.00
01Appraisal Fee t Lcal Appraisal C.$305.0002Credit Reprt Fee tCredit C.$30.0003Dcumet PreparatiFee tCllateral Research Ic.$55.0004Fld DetermiatiFee tCllateral Research Ic.$35.0005Fld Mitrig Fee tMitrig Services Ic.$10.0006Leders Attrey tThe Firm LLP$425.0007Tax Mitrig Fee tMitrig Services Ic.$15.0008Tax Status Research Fee tCllateral Research Ic.$25.0009 10 
C. Services Borroer Did Shop or $2,659.00
01Pest IspectiFee tHme Pest C.$125.0002Survey Fee tABC Surveys C.$160.0003Texas Title Guaraty Fee tTexas Title Is. Guar. Ass. by Leder$1.00$1.0004Title Curier Fee tQuick Delivery C.$32.0005Title Leders Plicy tRegial Title C.$100.0006Title owers Plicy tRegial Title C.$1,591.0007Title Settlemet Aget Fee tABC Settlemet C.$425.0008Title Title Search tRegial Title C.$225.00Settlemet Fees Subttal A + B + C$5,579.00$830.00Leder Credits
D. TOTAL SETTLEMENT EES (Borroer-Paid)$6,409.00E. Taxes and Other government ees $152.00
01Recrdig Fees Deed: $120.00 Mrtgage: $32.00$152.0002 
. Prepaids $2,543.48
01Hmewer’s Isurace Premium  12 m. t XYZ Is. C.$1,460.0002Mrtgage Isurace Premium m.03Prepaid Iterest $26.31 per day rm 2/21/12 t 2/29/12$210.4804Prperty Taxes m.05Widstrm Isurace Premium  12 m. t YYZ Is. C.$873.00
g. Initial Escro Payment at Closin $2,793.50
01HoA/Cd/C-p per mth r m.02Hmewers Isurace $121.67 per mth r 3 m.$365.0103Mrtgage Isurace per mth r m.04Prperty Taxes $505.08 per mth r 3 m.$1,515.2405Prperty Tax Escrw Adjustmet$695.0006Widstrm Isurace $72.75 per mth r 3 m.$218.2507 08Aggregate Adjustmet
H. Other Costs$1,635.31
01$6,000.00 t Reliable Realty C. / $6,000.00 t Realty Prs LLC$12,000.0002HoA Prcessig Fee tHoA Crp.$700.0003Hme Warraty tXYZ Warraty Ic.$260.3104Ispecti Fee t Ispectr Hme C.$300.0005Mbile Sigig Aget tQuick Sigig C.$150.0006Real Estate Brker Admi. Fee tReliable Realty C.$200.0007Structural IspectiFee tHme Egieerig Crp.$325.0008Settlemet Csts Subttal E + F + G + H$7,124.29$0
I. TOTAL SETTLEMENT COSTS (Borroer-Paid)$7,124.29
Clsig Csts Subttal
 
(Settlemet Fees + Settlemet Csts)$12,703.29$830.00$12,000.00$300.00$4,331.00
 J. TOTAL CLOSINg COSTS (Borroer-Paid)$13,533.29
Closin Cost Details
 
Calclatin Cash to Close
 BORROwER’S TRANSACTIONK. De rom Borroer at Closin $253,170.79
01Sale Price  Prperty $240,000.0002Sale Price  Ay Persal Prperty Icluded i Sale03Subttal Clsig Csts Paid at Clsig by Brrwer $12,703.2904 05 06 0708Adjustmets r Items Paid by Seller i Advace09City/Tw Taxes t10Cuty Taxes t11Assessmets t12HoA Dues 2/21/12 t 5/31/12 $467.5013 141516
L. Paid Already or on Behal o Borroer at Closin $223,344.56
01Depsit $5,000.0002Brrwer’s La Amut $216,500.0003Existig Las Assumed r Take Subject t04 05 060708Seller Credit $1,000.0009other Credits10 11 12 Adjustmets r Items Upaid by Seller13City/Tw Taxes 1/1/12 t 2/21/12 $844.5614Cuty Taxes t15Assessmets t16 1718
CALCuLATION
 Ttal Due rm Brrwer at Clsig K $253,170.79 Ttal Paid Already r  Behal  Brrwer at Clsig L $223,344.56
Cash to Close
 
x
 rom
 
To Borroer
 
$29,826.23
SELLER’S TRANSACTIONM. De to Seller at Closin $240,467.50
01Sale Price  Prperty $240,000.0002Sale Price  Ay Persal Prperty Icluded i Sale03 04 05 06 07 08Adjustmets r Items Paid by Seller i Advace09City/Tw Taxes t10Cuty Taxes t11Assessmets t12HoA Dues 2/21/12 t 5/31/12 $467.5013141516
N. De rom Seller at Closin $93,007.43
01Excess Depsit02Subttal Clsig Csts Paid at Clsig by Seller $12,000.0003Existig Las Assumed r Take Subject t04Payf  First Mrtgage La $79,162.8705Payf  Secd Mrtgage La06 07 08Seller Credit $1,000.0009 10111213Adjustmets r Items Upaid by Seller14City/Tw Taxes 1/1/12 t 2/21/12 $844.5615Cuty Taxes t16Assessmets t17 1819
CALCuLATION
 Ttal Due t Seller at Clsig M $240,467.50 Ttal Due rm Seller at Clsig n $93,007.43
Cash
 
rom
 
x
 To Seller $147,460.07
Smmaries o Transactions
SETTLEMEnT DISCLoSURE
PAGE 3 OF 5 •
LoAn ID # 1330172608
EstimateinalDid this Chane?
 Ttal Clsig Csts J$9,120$13,533.29
YES
See Ttal Settlemet Fees D ad Ttal Settlemet Csts IClsig Csts Subttal Paid Bere Clsig$0$830.00
YES
Yu paid these Clsig Csts bere clsigClsig Csts Fiaced$0$5,500.00
YES
Yu icluded these clsig csts i yur la amut, whichicreased yur la amutDwPaymet/Fuds rm Brrwer $29,000.00 $29,000.00
NO
Depsit$5,000.00$5,000.00
NO
Cash tBrrwer$0$0
NO
Seller Credits$1,000$1,000
NO
other Adjustmets ad Credits$0$377.06
YES
See details i Sectis K ad L
Cash to Close $32,120.00$29,826.23
use this table to see a smmary o yor transaction.use this table to see hat has chaned rom yor Loan Estimate.

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