EXHIBIT 8-7 Information for RESPA Closing Statement Buyer: John and Jane J. Jones 482 Liberty Street Anytown, USA Seller: Ralph and Pearl Brown 200 Heavenly Dr. Anytown, USA Lender: ABC Savings and Loan Association Anytown, USA Settlement Land Title Company agent: Anytown, USA Loan application date: March 1conventional loan Advance disclosure date: March 3 Borrower may request advance copy of actual settlement statement on March 24 Actual settlement date (closing date): March 25 1. Buyer and seller information: a. $76,700.00 1,000.00 Purchase price b. Deposit Real estate tax proration (taxes to be paid by buyer-owner January 1) $797 Taxes owed by seller Jan. 1-March 24, or (83 days = 365) * $797 Buyer-borrower and lender information: c. 181.24 II a. 61,360.00 Amount of loan (9.25% interest, 30 years, conventional loan) Prepaid interest March 25 31 (7 days) or (0925 = 365) times $61,360 times 7 = b. 108.85 II. Buyer-borrower and lender information: 0 a. Amount of loan (9.25% interest, 30 years, conventional loan) 61,360.00 b. Prepaid interest March 25 31 (7 days) or (.0925 = 365) times $61,360 times 7 = 108.85 c. Property tax (escrow) (2 months @ $66.42 per month) 132.84 d. Loan origination fee (1%) 614.00 e. Loan discount (1%) 614.00 f. Application fee 50.00 g. Appraisal 125.00 h. Credit report 45.00 i. Hazard insurance (escrow) 92.00 j. Title insurance: Land Title Company 350.00 k. Land Title Company closing fee 75.00 III. Transaction between buyer-borrower and others: a. Recording fees 31.00 b. Lender's title insurance-Land Title Company 100.00 IV. Transactions between seller and others: a. Release statement seller's mortgage 5.00 b. Payoff seller's mortgage (Anytown State Bank) 21.284.15 c. Real estate brokerage fee (6%) (Bobbie Broker) 4.602.00 Under II. b,c,d,e, f, g, h, i, j, k III a,b Settlement Statement - second part 1. Amount Due from Buyer: (A) Purchase price Plus settlement charges Less: Property tax proration Less: Earnest money Less: Mortgage loan Net amount due from buyer 150,000.00 4,923.65 196.52 5,000.00 127,500.00 22,227.13 Buyer's Share of Settlement Charges: Loan origination fee Loan discount fee Appraisal fee Credit report Mortgage insurance application fee Interest 2 months premium - escrow 2 months property tax-escrow Title insurance (lender) Recording fee Closing fee Title insurance (lender) Total 2,550.00 1,275.00 125.00 45.00 50.00 97.81 92.00 132.84 100.00 31.00 75.00 350.00 4,923.65 II. Amount Due to Seller: Sales price Less: Property tax proration Less: Payoff of existing loan Less: Settlement charges Net amount due to seller 150,000.00 196.52 21,284.15 4,923.65 123,595.68 Under II. b,c,d,e, f, g, h, i, j, k III a,b * Seller's Share of Settlement Charges: Broker commission Recording fee Total 5.00 7,500.00 7,505.00 Settlement Statement - first part 1. Buyer & seller information: a. Purchase price b. Deposit c. Real estate tax proration 150,000.00 5,000.00 196.52 (150,000/76,700)*181.24 150,000*.8 ((127,500*1.04/365))*7 II. Buyer-borrower and lender information a. Amount of loan b. Prepaid interest c. Property tax (escrow) d. Loan origination fee (2%) e. Loan discount (1%) f. Application fee g. Appraisal fee h. Credit report I. Hazard insurance (escrow) j. Title insurance: Land Title Company k. Land Title Insurance - closing fee 127,500.00 97.81 132.84 2,550.00 5.00 50.00 125.00 45.00 92.00 350.00 75.00 127,500*.02 127,500*.01 Given Given Given Given Given Given III. Transaction between seller and others: a. Recording fee b. Lender's title insurance - Land Title Company Given 31.00 100.00 Given 5.00 Given IV. Transactions between seller and others: a. Release statement seller's mortgage b. Payoff seller's mortgage (Anytown State Bank) c. Real estate brokerage fee (5%) (Bobbie Broker) Given 21,284.15 7,500.00 150,000*.05 Settlement Statement - first part 1. Buyer & seller information: a. Purchase price b. Deposit C. Real estate tax proration 76,700.00 1,000.00 II. Buyer-borrower and lender information a. Amount of loan b. Prepaid interest C. Property tax (escrow) d. Loan origination fee (3%) e. Loan discount (combined with d)) f. Application fee g. Appraisal fee h. Credit report I. Hazard insurance (escrow) j. Title insurance: Land Title Company k. Land Title Insurance - closing fee III. Transaction between seller and others: a. Recording fee b. Lender's title insurance - Land Title Company IV. Transactions between seller and others: a. Release statement seller's mortgage b. Payoff seller's mortgage (Anytown State Bank) c. Real estate brokerage fee (6%) (Bobbie Broker) Settlement Statement - second part 1. Amount Due from Buyer: (A) Purchase price Plus settlement charges Less: Property tax proration Less: Earnest money Less: Mortgage loan Net amount due from buyer Buyer's Share of Settlement Charges: Loan origination fee Loan discount fee (combined with loan orgination) Appraisal fee Credit report Mortgage insurance application fee Interest 2 months premium - escrow 2 months property tax-escrow Title insurance (lender) Recording fee Closing fee Title insurance (lender) Total II. Amount Due to Seller: Sales price Less: Property tax proration Less: Payoff of existing loan Less: Settlement charges Net amount due to seller * Seller's Share of Settlement Charges: Broker commission Recording fee Total EXHIBIT 8-7 Information for RESPA Closing Statement Buyer: John and Jane J. Jones 482 Liberty Street Anytown, USA Seller: Ralph and Pearl Brown 200 Heavenly Dr. Anytown, USA Lender: ABC Savings and Loan Association Anytown, USA Settlement Land Title Company agent: Anytown, USA Loan application date: March 1conventional loan Advance disclosure date: March 3 Borrower may request advance copy of actual settlement statement on March 24 Actual settlement date (closing date): March 25 1. Buyer and seller information: a. $76,700.00 1,000.00 Purchase price b. Deposit Real estate tax proration (taxes to be paid by buyer-owner January 1) $797 Taxes owed by seller Jan. 1-March 24, or (83 days = 365) * $797 Buyer-borrower and lender information: c. 181.24 II a. 61,360.00 Amount of loan (9.25% interest, 30 years, conventional loan) Prepaid interest March 25 31 (7 days) or (0925 = 365) times $61,360 times 7 = b. 108.85 II. Buyer-borrower and lender information: 0 a. Amount of loan (9.25% interest, 30 years, conventional loan) 61,360.00 b. Prepaid interest March 25 31 (7 days) or (.0925 = 365) times $61,360 times 7 = 108.85 c. Property tax (escrow) (2 months @ $66.42 per month) 132.84 d. Loan origination fee (1%) 614.00 e. Loan discount (1%) 614.00 f. Application fee 50.00 g. Appraisal 125.00 h. Credit report 45.00 i. Hazard insurance (escrow) 92.00 j. Title insurance: Land Title Company 350.00 k. Land Title Company closing fee 75.00 III. Transaction between buyer-borrower and others: a. Recording fees 31.00 b. Lender's title insurance-Land Title Company 100.00 IV. Transactions between seller and others: a. Release statement seller's mortgage 5.00 b. Payoff seller's mortgage (Anytown State Bank) 21.284.15 c. Real estate brokerage fee (6%) (Bobbie Broker) 4.602.00 Under II. b,c,d,e, f, g, h, i, j, k III a,b Settlement Statement - second part 1. Amount Due from Buyer: (A) Purchase price Plus settlement charges Less: Property tax proration Less: Earnest money Less: Mortgage loan Net amount due from buyer 150,000.00 4,923.65 196.52 5,000.00 127,500.00 22,227.13 Buyer's Share of Settlement Charges: Loan origination fee Loan discount fee Appraisal fee Credit report Mortgage insurance application fee Interest 2 months premium - escrow 2 months property tax-escrow Title insurance (lender) Recording fee Closing fee Title insurance (lender) Total 2,550.00 1,275.00 125.00 45.00 50.00 97.81 92.00 132.84 100.00 31.00 75.00 350.00 4,923.65 II. Amount Due to Seller: Sales price Less: Property tax proration Less: Payoff of existing loan Less: Settlement charges Net amount due to seller 150,000.00 196.52 21,284.15 4,923.65 123,595.68 Under II. b,c,d,e, f, g, h, i, j, k III a,b * Seller's Share of Settlement Charges: Broker commission Recording fee Total 5.00 7,500.00 7,505.00 Settlement Statement - first part 1. Buyer & seller information: a. Purchase price b. Deposit c. Real estate tax proration 150,000.00 5,000.00 196.52 (150,000/76,700)*181.24 150,000*.8 ((127,500*1.04/365))*7 II. Buyer-borrower and lender information a. Amount of loan b. Prepaid interest c. Property tax (escrow) d. Loan origination fee (2%) e. Loan discount (1%) f. Application fee g. Appraisal fee h. Credit report I. Hazard insurance (escrow) j. Title insurance: Land Title Company k. Land Title Insurance - closing fee 127,500.00 97.81 132.84 2,550.00 5.00 50.00 125.00 45.00 92.00 350.00 75.00 127,500*.02 127,500*.01 Given Given Given Given Given Given III. Transaction between seller and others: a. Recording fee b. Lender's title insurance - Land Title Company Given 31.00 100.00 Given 5.00 Given IV. Transactions between seller and others: a. Release statement seller's mortgage b. Payoff seller's mortgage (Anytown State Bank) c. Real estate brokerage fee (5%) (Bobbie Broker) Given 21,284.15 7,500.00 150,000*.05 Settlement Statement - first part 1. Buyer & seller information: a. Purchase price b. Deposit C. Real estate tax proration 76,700.00 1,000.00 II. Buyer-borrower and lender information a. Amount of loan b. Prepaid interest C. Property tax (escrow) d. Loan origination fee (3%) e. Loan discount (combined with d)) f. Application fee g. Appraisal fee h. Credit report I. Hazard insurance (escrow) j. Title insurance: Land Title Company k. Land Title Insurance - closing fee III. Transaction between seller and others: a. Recording fee b. Lender's title insurance - Land Title Company IV. Transactions between seller and others: a. Release statement seller's mortgage b. Payoff seller's mortgage (Anytown State Bank) c. Real estate brokerage fee (6%) (Bobbie Broker) Settlement Statement - second part 1. Amount Due from Buyer: (A) Purchase price Plus settlement charges Less: Property tax proration Less: Earnest money Less: Mortgage loan Net amount due from buyer Buyer's Share of Settlement Charges: Loan origination fee Loan discount fee (combined with loan orgination) Appraisal fee Credit report Mortgage insurance application fee Interest 2 months premium - escrow 2 months property tax-escrow Title insurance (lender) Recording fee Closing fee Title insurance (lender) Total II. Amount Due to Seller: Sales price Less: Property tax proration Less: Payoff of existing loan Less: Settlement charges Net amount due to seller * Seller's Share of Settlement Charges: Broker commission Recording fee Total