Where does it talk about the contents of the Payoffs and Payments table? I thought once I read the table had to list the purpose and the payee for each entry. I thought it was in the Guide to the Loan Estimate and Closing Disclosure forms, but now I cannot find it anywhere!

.38(t)(5)(vii)(B) A table under the master heading “Closing Cost Details” required by paragraph (f) of this section may be added with the heading “Payoffs and Payments” that itemizes the amounts of payments made at closing to other parties from the credit extended to the consumer or funds provided by the consumer in connection with the transaction, including designees of the consumer; the payees and a description of the purpose of such disbursements under the subheading “To”; and the total amount of such payments labeled “Total Payoffs and Payments.”

Thank you! Don't know how I couldn't find that again.

If the table is being used for a simultaneous second lien, we include a line that says, "Proceeds applied to first loan." Do we need any further description for a payee?