Document Updates: Proration Item Types on the Closing Disclosure

The Summaries of Transactions on the Closing Disclosure contains both “Adjustments for Items Paid by Seller in Advance” (in Sections K and M) and “Adjustments for Items Unpaid by Seller” (Sections L and N). Each of these prorated items can be one of many different types of tax or insurance premiums. In order to provide better consistency between the proration types between Sections K, L, M, and N, and to comply with LOS partner requests, we have expanded the proration types across all Sections. These expanded proration types can now print on Cx18566 (the English-language Closing Disclosure) and Cx18991 (the Spanish-language Closing Disclosure). Note that the options for the proration lines with the hardcoded text (City/Town Taxes, County Taxes, and Assessments) have not been impacted.

These changes are on Stage 1 and Stage 2 servers and are ready for testing. These changes will take effect on Production servers on July 19, 2024. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.

DR-151046
COM-4803

The preceding is for informational purposes only and is not and may not be construed as legal advice. No third-party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third party should consult with an attorney prior to embarking upon any specific course of action.