Overview
This demonstrates how to set up and use the rebate property on settlement lines to issue a credit based on another fee being charged on a file. Adding rebate settlement lines and setting rebate rates at geography levels in Resware will allow credits to be automated on files. In addition, reports can be generated to show the details of the total fees collected compared to the rebates given. This functionality was created to accommodate the needs for customers doing business in the state of Florida where an annual “data call” report is required. However, it can also be used for any generic rebate a company may find beneficial in their daily business.
Version History
| Version | Date Resolved | Mantis | Description |
9.6.29 | 08/03/2018 08/24/2018 | 14567 | Functionality available |
Adding a Rebate
Admin/General Setup/Geography
- Select States, Counties, or Cities to enter the rebate.
- For States:
- Select the state and click Edit.
- In the Rebate Rate area, select either Percent Rate or Flat Amount, then enter the value in the associated field.
- Click Save.
- Repeat steps to add the rebate for each state as needed.
- Click Close.
- For Counties:
- Select the state from the dropdown menu, select the county, then click Edit.
- In the Rebate Rate area, select either Percent Rate or Flat Amount, then enter the value in the associated field.
- Click Save.
- Repeat steps to add the rebate for each county as needed.
- Click Close.
- For Cities:
- Select the state from the dropdown menu, select the city, then click Edit.
- In the Rebate Rate area, select either Percent Rate or Flat Amount, then enter the value in the associated field.
- Click Save.
- Repeat steps to add the rebate for each city as needed.
- Click Close.
NOTE: Priority levels are city, county, then state, and no rebate will be added if there is no fee added. If a flat rate exceeds the fee, the rebate will still be added. Fees are added based on highest priority and not additive.
Adding Rebate Settlement Lines
Admin/General Setup/Settlement Type Defaults
A settlement line is needed for each rebate that is given based on another settlement fee on a file. In this example a rebate line is created for the lender’s premium settlement line where the title company is rebating a credit from their portion of the premiums charged.
Copy from an Existing Settlement Line
- Select Miscellaneous Title Charges or another appropriate line and click Copy.
- Click Yes to confirm copying the settlement line.
Edit the New Settlement Line
- Select the new settlement line created and click Edit.
- On the Property panel, Add or Edit the PartnerTypeID property to select the Default partner type from the dropdown menu as the partner giving the rebate.
- On the General panel, update the Settlement Statement Line name to describe the new line.
- On the Language panel, enter an Item Description to display on the settlement statements and closing statements.
- Click Save.
Add the Rebate Property to the Existing Settlement Line
- Edit the settlement line that will cause a rebate to be added to the file. In this example, the Lender’s Coverage fee.
- On the Property panel, click Add and select the RebateSettlementTypeID property from the dropdown menu.
- Select the Default settlement type from the dropdown menu that will show the rebate on the file.
- In this example, Lender’s Premium Credit, the new settlement line created in the above step.
- Click Close, then Save, Save.
NOTE: Repeat the above steps to for each rebate line needed. A rebate line can only add a credit based on one settlement line. If the rebate exceeds the fee charges, the rebate will still be added.
On a File
Settlement/Title Charges
This example is showing a Butler rebate credit from the title company and credited to the buyer for lender’s title Insurance. The rebate rate set at the state level is 35%.
Reports
HUD Lines report
View/Reports/HUD Lines
A report can be generated to include both the settlement lines containing the original fee and the rebate given. The following example is displaying the CD Settlement Types selected in the Enter Criteria area. This report will include the File number, Product, Client, Buyer/Seller, and Property Address.
Search Policy Report
Search/Policies (Ctrl+Shift+O)
To assist customers doing business in the state of Florida, Resware has a report available that provides information required to complete the annual Florida “data call”. This report can return the following information if all the columns are displayed in the Search Results grid:
| Borrower | Code | Common Settlement ID | Consideration | Discount |
| Easement Start Number | Effective | File Number | File ID | Interest |
| Is Proforma | Legal | Lien Start Number | Mortgage Date | Mortgagor |
| NAIC Code | Office ID | Policy Form | Policy Number | Policy Form ID |
| Policy Issued ID | Premium | Premium Discount Description | Primary Property | Prior Policy Date |
| Prior Policy Amount | Prior Policy Consideration | Prior Policy Number | Prior Policy Premium | Product |
| Product Type ID | Property City | Property State | Property Street | Property Zip |
| Proposed Insured | Rate | Rate Type ID | Remittance Amount | Status |
| Tax Year | Time Frame | Transaction Type ID | Type | Typed |
| Underwriter | Underwriter ID | Vesting | Void Date | Voided by General User ID |
- In addition, up to six settlement type columns can be included in the report by clicking on Include and selecting additional settlement types.
- Once the columns are selected as needed, click Search to return the results.
- Click View as Report to open in the Report Viewer.
- Select Export, Excel, and Data Dump to open the spreadsheet and edit as needed.
