Why is a negative transfer tax and/or recording fee appearing on the seller's side within the 2015 Itemization Form?
The negative seller transfer taxes and recording fees happen when a user manually updates the fee within the borrower's fee amount field. The reason this occurs is because the borrowers field calculates from the breakdown field. If you only manually update the amount field and not the breakdown field, it tries to balance itself out.
How can one prevent this from happening?
- LodeStar can remove the breakdown field and so the amount box won't calculate off of it.
- The user will need to know that if they want to update the fee amounts, they need to update the breakdown field first, then the borrowers field and then lastly the sellers field (if there seller side transfer taxes).
- Ask your users not to manually update the field.
- Rerun LodeStar and export the updated fee amounts.
For questions, please reach out to firstname.lastname@example.org.