How is the realtor commission entered?

According to 12 CFR 1026.37(g)(4) and 12 CFR 1026.38(g)(4), commissions (as well as other closely related party types (e.g., real estate agent, Realtor, real estate broker)) should be disclosed in section H. Other of the Closing Disclosure.

To accomplish this, follow the steps below for entering commissions (as well as other closely related party types (e.g., real estate agent, Realtor, real estate broker)).

1. Go to the CALCULATIONS page.

2. Click the + FEE button to add a new fee.

3. From Fee Name drop-down list, select User Defined.

4. In User Defined Fee Name, enter Realtor Commission (or whatever is appropriate).

5. From the Section drop-down, select Other.

6. In Fixed, enter the amount of the commission.

7. From the Paid By drop-down, select Seller.

8. From the Paid To drop-down, select Other.

9. In Paid To Description, enter the name of the realtor (or appropriate description).

10. Leave Variance Type blank.

11. Click SAVE.

A fee named “Realtor Commission” (or whatever was entered) appears in the list of Fees.

The commission amount prints on the Closing Disclosure in section H. Other under the “Seller-Paid” column. This amount is also included in 02. Closing Costs Paid at Closing (J) under section N. Due from Seller at Closing.