Uniform Real Estate Mortgage Disclosure and Transaction by jolinmilioncherie

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									                  Uniform Real Estate Mortgage Disclosure and Transaction Settlement Form


Document Date: October 31, 2011
■ Disclosure and Transaction Settlement Form by Settlement Agent-This form gives you a statement of the actual settlement costs.
Amounts paid to and by the settlement agent are also shown. Items marked “Paid Before Closing” were paid outside of this closing; they
have not been verified by Settlement Agent, are shown here for information purposes and are not included in the totals except as
indicated. Loan information was provided to Settlement Agent by Lender.

Type of Loan                                                                            Contact Information
1.  FHA    2.  RHS 3. X Conv. Ins.                   Seller:                                     Borrower:
4.  VA     5. ■ Conv. Unins.                          Federal Mortgage, FSB, REO                  Mort Smith
Property Location:                                     1330 N. Main Street, Suite 100              Bea U. Smith
109 Paradise Drive                                     Walnut Creek, CA 94596                      1707 Rio Grande Verde
Walnut Creek, CA 94596                                                                             Tustin, CA 92782
                                                       Lender                                      Settlement Agent:
File Number:
                                                       BigName, N.A.                               XYZ Escrow
Loan Number: 001345987-CA                              14800 Huge Road,                            123 Main Street
                                                       Fort Worth, TX 76155                        Santa Ana, 92705
Mortgage Insurance Case Number:

Settlement Date: October 31, 2011                      Disbursement Date: October 31, 2011          Proration Date: October 31, 2011

                                               A Snapshot of the Borrower’s Transaction

                                                                         Your Loan Interest Rate and
Summary of Your Transaction
                                                                         Monthly Payment
Charges                                                                                                         To Start       Can go up to
Purchase Price                                          $409,500.00
                                                                         Monthly ■ Principal ■ Interest        $1,043.29           1,741.13
Adjustment for Items Prepaid by Seller                     1,040.21
Borrower Settlement Charges                               13,460.69                                                           These items, as
                                                                         Monthly Mortgage Insurance
                                                                                                                              well as the total
Credits                                                                  Monthly County/ Municipal                           monthly payment,
Deposit or earnest money                                 -15,000.00      Assessments                                           will vary based
Additional Deposits                                                                                                           upon changes to
                                                                         Monthly ■ Taxes ■ Insurance             $270.83
Principal amount of new loan                            -327,600.00                                                             your hazard
Existing loan(s) taken subject to                                                                                                 insurance
Adjustments for items unpaid by seller                                                                                           premiums,
Proceeds from Second Loan                                -40,252.00                                                          property taxes and
                                                                         Your Total Monthly Payment            $1,314.12       assessments.
Closing Cost Credit from Seller to Buyer                  -7,000.00

                                                                         Your Note Interest Rate                 4.75%             10.75%
Additional Cash Deposited at Closing                     $34,148.90

                                                      About the Borrower’s Loan Terms

Your Loan Amount                           $327,600
Your Loan Term is                           30 years
                                                                          Your interest rate will remain the same for the entire Loan Term
 Your Loan has a prepayment penalty of                                  ■ Your Interest Rate May Change during the Loan Term
■ Your Loan will be secured by the Property Location above               Your loan has an introductory interest rate period of       5 years
■ Property hazard insurance for the Loan Amount, with a                  After your Introductory Interest Rate Period, your
                                                                                                                                       2%
mortgagee clause to the lender, is required during the Loan              interest rate can increase every year by as much as
Term from an insurance company acceptable to Lender                      At the end of your Introductory Rate Period, your
■ If any payment is received more than 15 days late, a late              interest rate will be determined based upon the
charge will be assessed in the amount of 5% of the payment.              LIBOR Rate                                      Plus          2%
                                                                         If the market rate did not change and you made all your
                                                                         payments as scheduled, you would make:
                                                                         Total Number of Payments                                       360
The Annual Percentage Rate (APR) tells                                   Total Amount of Principal and Interest Payments
you more about the costs of a loan than the note           APR           (Does NOT include any Monthly Tax & Insurance               $481,032
interest rate alone, because it includes settlement                      Escrow paid)
charges (marked as “APR” on page 2) in addition
to all interest payments                                  5.15%          Amount Financed – The Amount of Credit provided to
                                                                                                                                    $xxx,xxx.xx
                                                                         you or on your behalf is
                                                                         Finance Charge – the dollar amount the credit will
                                                                                                                                    $xxx,xxx.xx
                                                                         cost you is


                 February 8, 2011 Version 8b
                    Real Estate Mortgage Disclosure and Transaction Settlement Form

Document Date: October 31, 2011
■ Disclosure and Transaction Settlement Form by Settlement Agent


                                                       Statement of Closing

        Seller                 Items marked “APR” are used in the Annual Percentage Rate calculation.             Borrower
$ Charges     $ Credits                                    Items                                   APR      $ Charges   $ Credits
                               Financial (Purchase Price, Deposits and new Loans)
                 409,500.00    Total Purchase Price                                                         409,500.00
                               Deposit -                                                                                  15,000.00
                               New Loan to Big Name, N.A.                                                                327,600.00
                               New Loan to (2nd Lender) - Proceeds                                                        40,252.00

                               Prorations/Adjustments
                   1,040.21    Proration of County Taxes from 10/31/2011 to 11/1/2011                         1,040.21
   7,000.00                    Closing Costs Credit from Seller to Buyer                                                   7,000.00

                               Payoffs
 292,753.88                    Payoff of First Mortgage Loan


                               700. Real Estate Broker Fees
  14,332.50                    Listing Broker Commission to HELP NOW Real Estate
   9,870.73                    Selling Broker Commission to Security Real Estate

                               800. Loan Related Items
                               Lender Origination Charge                                            (APR)     1,700.00
                               Credit or charge (points) for the specific interest rate chosen      (APR)     5,300.00

                               850. Services Required and Selected by Lender
                               Appraisal Fee to Appraise Hi Co                                      (APR)      425.00
                               Tax Service to Wells tax Service                                     (APR)       84.00
                               Credit Report to ABC Credit Co (Paid to Lender before Closing -
                                                                                                    (APR)
                               $18.00)
                               (See Addendum for Itemization of Additional Charges)                              20.00
                               900. Item Required by Lender to be Paid in Advance
                               Daily Interest Charges from 10/31/2011 to 11/1/2011 @ 70.59/day      (APR)       70.59
                               Homeowner’s Insurance for 1 year to Farmers State                               696.00

                               1000. Reserves Deposited with Lender
                               Homeowner’s Insurance for 3 months @ 61.58 per month                             184.74
                               Property Taxes for 4 months @ 426.56 per month                                 1,706.24
                               Aggregate Adjustment                                                            -307.88
                               1100. Title and Closing Charges
     500.00                    Settlement or Closing Fee to XYZ Escrow                              (APR)       500.00
                               Owner’s Title Insurance to ABC Title Co. Policy Limit $409,500.00    (APR)     1,220.00
                               Lender’s Title Insurance to ABC Title Co. Policy Limit $327,600.00   (APR)       570.00
     250.00                    Robert E. Law, Esq. – Preparation of Seller’s Documents
                               John Q. Smith, Esq. – Buyer Attorney’s Fees                                     220.00
                               1200. Government Transfer Charges
      28.00                    Average Charge - Recording                                           (APR)        92.00
     750.00                    State Transfer Tax
     500.00                    Local Transfer Tax
                               1300. Lender Required Services You Can Shop For
                               Termite Inspection to Bugs R Us                                      (APR)      400.00
                               Survey to ABC Land Survey                                            (APR)      230.00

                               1350. Additional Services and Charges
                               Home Inspection Fee to PDA Engineering                                          350.00


 325,985.11      410,540.21                                       Balance                                   424,000.90   389,852.00
  84,555.10                    Cash ■ To  From Seller                 Cash  To ■ From Borrower                          34,148.90




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              February 8, 2011 Version 8b
                  Real Estate Mortgage Disclosure and Transaction Settlement Form

Document Date: October 31, 2011
■ Disclosure and Transaction Settlement Form by Settlement Agent


                                Summary of Borrower Settlement Charges - Comparison

                                                                         Initial          Actual         Change from
                                                                      Disclosure          Closing           Initial
                                                                     Estimates (*)       Charges(*)       Disclosure
 800 Lender Charges in Connection with Loan                                 7,000.00         7,000.00                  0
 850 Services Required and Selected by Lender                                  541.00          547.00               6.00
 900. Items Required by Lender to Be Paid in Advance                           809.59          766.59            -43.00
 1000. Reserves Deposited with Lender                                       1,583.10         1,583.10                  0
 1100. Title and Closing Charges                                            2,290.00         2,510.00            220.00
 1200. Government Recording and Transfer Charges                                 92.00          92.00                  0
 1300. Lender Required Services You Can Shop for                               630.00          630.00                  0
 1350. Additional Services and Charges                                               0         350.00            350.00
 Total Settlement Charges at Closing                                       12,945.69       12,258.69             533.00
           * Includes items Paid Outside Closing

           If the “Actual Closing Charges” column for line 800 above exceeds $7,000.00, you may
           be entitled to a refund of the amount over $7,000.00. Please contact your lender for
           further details.

           If the “Actual Closing Charges” column for line 850 above exceeds $595.10, you may be
           entitled to a refund of the amount over $595.10. Please contact your lender for further
           details.



                                               Statement of Closing (Addendum)
        Seller               Items marked “APR” are used in the Annual Percentage Rate calculation.             Buyer
$ Charges     $ Credits                                                                          APR    $ Charges   $ Credits


                             850. Services Required and Selected by Lender
                             Flood Inspection                                                 (APR)          10.00
                             Flood Certification                                              (APR           10.00




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           February 8, 2011 Version 8b

								
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