How to Set Up Company Fee&Escrow Templates in SphereLOS

1. Log in to the system and navigate to Settings.
   
   
2. Search for and click Fee and Escrow Types to enter the section.
   
   
3. Expand the section where you want to set a default fee by clicking the + icon.
   
   
4. Find the fee you want to edit and click the pencil icon next to it.
   
   
5. In the General Information section, click the pencil icon next to Paid To Type.
   
   
6. Select an option from the dropdown list.
   
   
7. Click Save to apply your selection.
   
   
8. In the Additional section, ensure Default is toggled on.
   
   
9. Toggle on options such as Seller Representative, Included in APR, Included in Points and Fees, and add a RESPA Code or Notes if needed.
   
   
10. To set a default dollar amount, click Default Values, located next to the General Information section.
    
    
11. Choose whether the fee is Borrower-Paid, Seller-Paid, or Paid by Others.
    
    
12. Select Add Default Value next to either At Closing or Before Closing, depending on when the fee should be charged.
    
    
13. Click the pencil icon to enter the fee amount.
    
    
14. For Borrower-Paid fees, you can define the fee as a percentage:
    
    • Click the dropdown arrow to select the calculation basis: Appraised Value %, Loan Amount %, Purchase Price %, or Total Loan Amount %.
      
      
    • Enter the Rate.
      
      
    • Choose Re-Calculate Automatically as Yes to update the fee automatically when related values change.
      
      
    • Click Save to complete the calculator settings.
      
      

Advanced Calculator (For Complex Fee Settings)

1. Click Switch to Advanced Settings for detailed calculation options.
   
   
2. In the Setter Type field, select one of the following:
   
   
   • Constant – fixed dollar amount.
     
     
   • Field – fee based on a specific system field.
     
     
   • Formula – calculated using addition, subtraction, multiplication, division, or tiered schedules.
     
     
3. Enable Re-Calculate Automatically (set to Yes) to update the fee when related factors change.
   
   
4. Click Save to finalize the calculator settings.
   
   

Conditional Fees Setup

1. For fees that vary based on conditions, click the pencil icon under the Conditions column.
   
   
2. Click Add New Group.
   
   
3. Complete the three fields:
   
   
   • In the first field, choose a value from the dropdown.
     
     
   • In the second field, select an operator: Equal, Except, Greater, Greater or Equal, Less, or Less or Equal.
     
     
   • In the third field, enter the corresponding value.
     
     
4. Click Save to apply the condition.
   
   

Adding Fees Not Listed

1. If you don’t see the fee type you need, click Add Fee and Escrow Type in the top right.
   
   
2. In the Add Fee and Escrow Types window:
   
   
   • Choose the appropriate sections.
     
     
   • Select the desired fees by checking the boxes.
     
     
   • Click Add Selected Fee and Escrow Types.
     
     
3. Click Back to Fee and Escrow Types to return to the main Fee & Escrow Settings page. The fee will now appear in the section, ready to use.
   
   
4. If the fee you need isn’t in the list, click Create New Fee and Escrow Type to open the General Information page.
   
   
5. Enter the fee Name, assign the sections it belongs to, and set the Paid To Type.
   
   
6. Follow the above steps to complete the fee General Information and Default Values setting.