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 6101 and Exhibit 28A.  The amounts in the Servicing Released Proceeds Summary are wired to the Servicer on the settlement/funding date.