Example: Loan Purchase Statement
Cash, Fixed Rate, Servicing Released
The total disbursement for this type of contract is calculated as follows:
Name
Add or Subtract
Amount
Principal Purchased
$398,654.58
Accrued Interest
+
$ 477.55*
Total Fees
+
$ 2,989.92*
Premium (Discount)
-
($ 14,698.40)*
This amount is added or deducted to/from the Total Disbursement depending on the base price:
If the base price is below 100%, this is the Discount and the amount is deducted (a minus).
If the base price is above 100%, this is a Premium and the amount is added, (a plus).
Servicing Released
Proceeds Summary
-
$ 2,729.39*
Servicing Released adjustments for: Escrow Funds
Collected at Closing, Interest Adjustment, Servicing
Spread Adjustment, Tax Fee and Transaction Fee
Total Disbursement
=
$378,714.42** (Amount wired to the Seller)
*If this amount is enclosed in parentheses, it is deducted from the Total Disbursement.
**Deductions for servicing released adjustments as displayed in the Servicing Released
Proceeds Summary section AND includes a credit for the Servicing Released Premium.
For more information, refer to Guide Chapter 9 and Exhibit 28A. The amounts in the
Servicing Released Proceeds Summary are wired to the Servicer on the settlement/funding
date.
