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Multiple Loans and Policies


This demonstrates how multiple loans and policies can be closed and issued on a single file.

Version History

VersionDate IDDescription
9.104/25/2018 Information and screenshots created

Adding Additional Loans to a File

File/New Loans

  • Click the green + to add the next available loan.
    • An infinite number of loans can be added.
  • Add the information for the additional loan, including the Loan Amount, Interest Rate, Loan Number, Lender, and Lender’s Policy.
  • When the panel is saved, a popup will appear. Click OK to accept the changes.
    • By default, fees based on the sales price or loan amount will recalculated for all loans. To recalculate the title premiums for the newly added loan only, uncheck the Title Premiums (Leave unchecked for new/updated loans only) box.
    • The popup will indicate other changes that will be made.

Adding Fees to Settlement for Additional Loans


  • Each Settlement sub-tab has a Loan: dropdown, which defaults to Loan 1.
  • To add fees to loans other than loan 1, click in the Loan dropdown and select the loan where the fee is applicable.
  • All of the grouping options work the same as they historically have, in that settlement fees with the same Group and Partner setting will be combined together for receipt or disbursement purposes on the Settlement/Postings tab, with the exception of the NetX groupings.
  • When a settlement type is added to Settlement/Loan Items with a NetX group, that fee will be deducted from the loan specified in the net group (e.g. Net2 nets the fee from loan #2). For loans above #4, use the Net grouping and Resware will net the fee out of the selected loan (e.g. if the loan in the dropdown is Loan #7, using the Net group will net the fee from loan #7).
    • The fees that are set to Net in Admin/General Setup/Settlement Type Defaults will be added to the file with the Net grouping that matches the selected loan.

Rolling Proceeds from Additional Loans into the First Loan


  • Check Roll-up Balance on Settlement/Refunds/Proceeds for the loan(s) whose proceeds should be applied to the first loan’s closing.
    • This check box is enabled on loans other than Loan #1.
  • The buyer/borrower’s amount for Loan #1 will be automatically calculated based on the balance of the additional loans being applied to the first loan.
  • Using the Roll up balance option will cause the proceeds from the loan or the amount due on the loan, based on what’s calculated on Refunds/Proceeds, to be shown on Deposits, Credits, Debits as either Additional Loan Proceeds or Additional Loan Due, respectively.

Example of Additional Loan Proceeds:

Example of Additional Loan Due:

  • The Settlement/Postings tab does not show the amounts from the additional loan(s) disbursed. The amount due from the buyer/borrower on the first loan is adjusted for the balance from the additional loan(s) being credited to it.
    • The amounts on Deposits, Credits, Debits match the amounts on Settlement/Refund/Proceeds.

Disbursing Additional Loans as Proceeds


  • Uncheck Roll-up Balance on Settlement/Refunds/Proceeds for the loan(s) that should be disbursed as proceeds.
    • This check box is available on loans other than Loan #1. Loan #1 is always disbursed.
  • The buyer/borrower’s amount for Loan #1 will be calculated as it would be if it were the only loan on the file.
  • This option does not show any additional lines on Deposits, Credits, Debits.
  • The Settlement/Postings tab shows the amounts from the additional loan(s) disbursed.
    • This matches what’s showing on Settlement/Refund/Proceeds.

Generating Settlement Reports for Multiple Loans


  • The lender name(s) and/or address(es) can be overridden by selecting the loan whose lender name should be changed and clicking View/Edit. Check the Override Lender Name and/or Override Lender Address box to type new information.
    • To override all of the loans’ lenders with the same information, highlight the All line rather than a specific loan line.
  • The settlement statements are generated for a single loan only. The selection defaults to 1st to generate a settlement statement for a loan other than the first, click in the Loan dropdown in the Settlement Statement section, select the desired loan, and click the CD button.
  • The closing statements can be generated for all loans at once or each loan individually. The selection defaults to All Loan dropdown in the Closing Statement section, select the desired loan, and click the desired …Closing Statement button.

Issuing Policies on a File with Multiple Loans


  • Each policy has its own tab; the data on these tabs is unique to each policy (e.g. the data on the Legal field on the owner’s policy will not be displayed in the Legal field on the lender’s policy unless the owner’s policy is copied to the lender’s policy using the Copy From Policy function on the lender’s policy).
  • These are added to the file automatically based on a sales price (owner’s policy) or loan amount (loan policy) being present on the New Loans tab.
  • To delete a policy, click the red X on the policy’s tab.
    • If a policy has a number, it cannot be deleted.
  • To add a new policy, click the green + at the end of the row of policy tabs.
    • An infinite number of owner’s policies can be added and a corresponding owner’s coverage line will be added to Settlement/Title Charge for each policy.
    • Lenders’ policies are validated against the number of loans on the file and there can only be as many lenders’ policies on the file as there are loans.
      • If it is possible to add a lender’s policy, the corresponding loan will have to be selected when the policy is added.
      • If there are already as many loan policies as there are loans, the Lender’s option will be disabled.

Adding additional endorsements

  • To add endorsements, click the Add button in the Endorsements area on a policy tab.
  • Select the policies to which the endorsements should be added in the Add to Policies on File section.
  • Select the endorsements that should be added to any of these policies in the Endorsements section.
  • Click Add.

NOTE: It is not necessary to be on the policy tab to which the endorsements need to be added. If a selected endorsement can be added to a selected policy, Resware will add it, even if the user is not on that policy’s tab.

  • The endorsements and the amount charged on the Settlement/Title Charges tab for each endorsement will be added to each policy’s tab.

Adding additional exceptions

  • To add additional exceptions, click Add in either the Exceptions: Liens & Requirements or Exceptions: Easements & Restrictions areas and select the exception.
    • The same exception can be added to multiple policies by selecting the policies to which it should be added in the Policies area.
  • Click Save.

Removing exceptions

  • To remove an exception, highlight it and click the Remove button. Using the button will remove the exception from the policy. If the exception should be removed from all of the policies on the file, click on the down arrow on the right side of the button and select From File.

Generating policies

  • When the data on the policy tab is entered and the policy is ready to be issued, enter an Effective date and click the Generate button.
  • Repeat for each policy.
  • The policies will be issued, the tabs will no longer be able to be deleted, and the documents will be added to the Documents tab.

Changes to Search Data

File/Search Data

  • When exceptions on are added to Search Data, they can also be added to the policy or policies to which they apply by clicking in the Add To check box for the applicable policy or policies.
Updated on April 27, 2022

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