Compliance and CDA

The last two tabs of the file are the ones auditors look at and the ones that release the money. Neither is glamorous, and both are the difference between getting paid on time and getting paid whenever somebody finds a document.

File compliance

This is the list of required paperwork for this deal, each with its status. You start with "Seed the deal paperwork," which brings the catalog items for that deal type, and then you add the odd ones that come up: "City letter for an open permit" and the like.

Each document moves from Missing to Uploaded and from there to Approved or Rejected, and the summary at the top reads how many are approved out of how many exist.

At the end sits the "Final audit." It requires everything approved: if something is missing it tells you how many and seals nothing. When it passes, the file is sealed. And the ZIP downloads the whole package, which is the five-year retention archive, the one the FREC asks for.

The CDA

CDA stands for Commission Disbursement Authorization, and the line it carries on screen explains why it matters: "Without a CDA in title's hands, commissions are not disbursed." It is the document the broker uses to tell title how much to pay and to whom.

The card carries the figures (sale price, total commission, listing side, buyer side, repair credits) and compares them against the contract. If something does not add up, it flags it before the attorney does.

• TWO approvals are required: the agent's and the broker's.
• Changing a figure after approving wipes the approvals. That is deliberate: what was approved is no longer what the document says.
• "Send to title" requires a title or escrow officer email among the Parties. If there is none, the screen sends you to load it.
• The day each one approved and the day it was sent are both recorded.

This tab belongs to the real estate closing. If you also see Clocks, Calculations, Statement or Escrow in the file, do not worry: those are tools for the title attorney and the coordinator who share the same file. They do not get in the way and they are not part of this course.