Fees - Calculate in FAST using FACC (CD/SS) - First American

Fees - Calculate in FAST using FACC (CD/SS)

This guide provides instruction on how to calculate premiums, endorsements fees, and recording fees in FAST, using First American Comprehensive Calculator (FACC) and file criteria, where applicable, for the Closing Disclosure (CD).

Step 1: Enter Criteria to Calculate Fees ...................................................................................................................................... 1 Step 2: Calculate Premium, Endorsement, Closing Costs and Recording Fees........................................................................... 2

Part 1: Transaction Information ............................................................................................................................................. 3 Part 2: Enter Title Product(s) and Endorsement(s)................................................................................................................. 3 Part 3: Enter Closing Costs...................................................................................................................................................... 4 Part 4: Enter Recording Fees .................................................................................................................................................. 4 Part 5: Calculate Fees ............................................................................................................................................................. 5 Part 6: Complete the Calculation Summary Information ....................................................................................................... 5 Step 3: Imagedoc the Fee List ..................................................................................................................................................... 7 Modify File Criteria when Calculated Fees Exist on File .............................................................................................................. 7 Optional: Multiple Fee Transfers ................................................................................................................................................. 7

Step 1: Enter Criteria to Calculate Fees

Before calculating fees, the file requires the following file information:

Confirm Underwriter Selection

1. Access

screen

2. In Title ? Owning Office section, change Underwriter, if needed

? Authorized Underwriter (i.e. First American Title)

o FACC is used to calculate premium, endorsement and recording fees

? Non-Authorized Underwriter

o FACC is used to calculate recording fees, but premium and endorsement fees are entered manually

Select Product(s) Click HERE to review your state specific documentation to verify Transaction Type, Rate Type and Product selections to use for proper calculations.

1. Access

screen

2. In Product(s) section, verify correct title products are selected based on your location

NOTE: If changes are necessary, click Enter Owner and Loan Liability Amounts 1. To verify Owner Liability amount, access 2. Verify First Owner's Policy liability amount

3. Verify First Lender Policy Liability amount

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Manual: Fees ? Calculate in FAST using FACC (CD/SS) | 1/2/2020

?2020 First American Financial Corporation and/or its affiliates. All rights reserved. NYSE: FAF

to make modifications. screen

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4. If First Lender Policy Liability amount is incorrect, access 5. Edit amount in Lender Policy Liability field

Enter City, State, and County in Property Details 1. To verify City, State, and County information, access 2. Select Property 3. Double-click or click Edit

screen screen

4. In Address Detail section, edit City, State, and County, as needed

5. Click

Step 2: Calculate Premium, Endorsement, Closing Costs and Recording Fees

Follow these steps to calculate Premium, Endorsement, Closing Costs and Recording fees using FACC:

1. Expand

2. Access

screen

3. Checkmark all applicable Calculation Options needed:

? All Fees - calculates Title and Endorsement Fees, Recording Fees and, if applicable, Closing Costs

? Title and Endorsement Fees ? calculates Title and Endorsement Fees only

? Closing Costs ? calculates Closing Costs, if available for your state

? Recording Fees ? calculates Recording Fees only

NOTES: ? For Escrow Only transactions, Closing Costs and Recording Fees are the only options available unless you select

FACC underwriter, which makes All Fees and Title and Endorsement Fees options available for rate calculations

? For Commercial transactions in some states, an additional checkbox displays to enable FACC Calculation. Other states have the ability to calculate Commercial rates by selecting the Title and Endorsement Fees check-box. Check with Management to verify if calculating Commercial rates using the FACC is available in your area

o The following warning message will appear when attempt to uncheck Title and Escrow Fees checkbox to recalculate.

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Manual: Fees ? Calculate in FAST using FACC (CD/SS) | 1/2/2020

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4. Click 5. To enable better viewing of Calculate Fees screen, click to hide the FAST Navigation menu Part 1: Transaction Information NOTE: Transaction Information section displays required information that is necessary to calculate Fees.

1. The Rate Effective Date, defaults to current Date, change if necessary

NOTE: The Rate Effective Date can be changed to a past date or up to 30 days in advance, if needed, and must be changed before calculating Title Product(s) and Endorsement(s). Part 2: Enter Title Product(s) and Endorsement(s) Click HERE to review your state specific documentation to verify Transaction Type, Rate Type and Product selections to use for proper calculations. 1. In the Title Product(s) and Endorsement(s) section, select from the Title Product list, which varies based on Product selections made on File Homepage

2. Select from the Rate Type list, which varies based on Title Production selection

3. Click 4. Are the remaining Products to be calculated as Simultaneous?

A. No ? Enter all remaining products individually and then proceed to Step 10 B. Yes ? Proceed to step 5 5. Click 6. Select the additional product from the Title Product list 7. Select from the Rate Type list 8. Click Done

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Manual: Fees ? Calculate in FAST using FACC (CD/SS) | 1/2/2020

?2020 First American Financial Corporation and/or its affiliates. All rights reserved. NYSE: FAF

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NOTES: ? The FACC will only calculate the first two Simultaneous products ? If multiple Owner's Policies and a Loan Policy are entered within a group, an Add Link button displays. which allows

you to link the Loan Policy to the appropriate Owner's Policy

9. Continue to enter all necessary products until all are entered

10. To add Endorsement(s), click 11. Select the applicable Endorsement(s) 12. Click Done

next to the applicable product

NOTES: ? You may need to respond to Endorsement questions if prompted. ? If Endorsements need to be added to other calculated policies, repeat steps 10-12. 13. If an Endorsement is being issued separately from a Product, such as with a Mortgage Modification, click

14. Perform steps 11-12 to select Endorsements

Part 3: Enter Closing Costs 1. In the Closing Costs section, from the Closing Fee Group list, select from the available group list

NOTE: Fees may be selected by default. 2. To include additional fees, select the Calculate Fee checkbox

NOTE: The checkbox for Check here to have all FACC Closing Costs available for selection on Fee Entry should not be used except in rare instances. Contact DirectHelp before using.

Part 4: Enter Recording Fees 1. In the Recording Fees section, select the document from the Recording Document list 2. Enter the number of document Pages

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Manual: Fees ? Calculate in FAST using FACC (CD/SS) | 1/2/2020

?2020 First American Financial Corporation and/or its affiliates. All rights reserved. NYSE: FAF

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3. The Consideration Amount will default to the Sales Price for a Deed and the Loan Amount for a Mortgage. If calculating a Deed that should not calculate Transfer Tax, change the Consideration Amount to $0.00 if needed

4. Click Add

5. Repeat steps 1-4 until all recordable documents are entered for calculation 6. Adjust page-count by checking the box and editing in the Pages column, if needed

Part 5: Calculate Fees 1. With entries complete in Title Product(s) and Endorsement(s), Closing Costs and Recording Fees section, click

NOTE: Respond to calculation questions if prompted. Recording fee questions must be answered for each recordable document. By answering these questions accurately, you will receive the correct premiums, recording and tax. 2. Click Part 6: Complete the Calculation Summary Information Complete each calculation line item in the Summary section as follows: NOTE: If property is in a Revised State (FACC considers Business Segment and Transaction Type in calculation), the word Revised will display in the Summary section.

1. Select a FAST Fee Description from the list, as applicable

NOTES: ? The list will vary based on your location. ? The ++View More option allows you to search for additional FAST Fee Descriptions.

2. Select the Charge To option of Buyer or Seller, as applicable

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Manual: Fees ? Calculate in FAST using FACC (CD/SS) | 1/2/2020

?2020 First American Financial Corporation and/or its affiliates. All rights reserved. NYSE: FAF

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