5 Loan Application

Copyright © 2015 Calyx Software. All rights reserved. This information cannot be reproduced in any
way, in whole or in part, without written permission from Calyx Software.
Calyx Software makes no representations or warranties with respect to this information and will not
guarantee the accuracy and completeness of any information. Users of this information do so with the
understanding that Calyx Software is not engaged in the practice of law and does not render legal,
accounting, or other professional services.
In determining which federal or state forms supplied by Calyx Software should be used in a particular
situation, users of this information should consult with their own legal counsel for advice.
Calyx Software makes no representation that it supplies forms for every state. Calyx Software reserves
the right to change this information without notice.
Calyx, Point, PointCentral, and WebCaster are registered trademarks of Calyx Software.
LoanScoreCard and INK-it are trademarks of Calyx Software. All other brand and product names are
trademarks of their respective holders.
May 2015.
Contents
Preface . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xvii
Document conventions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xvii
Typographical conventions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xvii
Terminology. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xviii
Product assistance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xviii
Operating systems . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .xx
Point file encryption levels . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .xx
Conventional data folder storage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .xx
Summary of changes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xxi
Version 9.2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xxi
Version 9.1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xxi
Version 9.0, Service Pack 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xxii
Version 9.0. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xxii
Version 8.1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xxii
Chapter 1—Installation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Operating requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
System requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Software requirements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Installing Point . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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Chapter 2—User interface . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
Screen components . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Navigation panel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Loans tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Shortcut toolbar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Information bar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Current Status. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Loan checklist . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Pipeline tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Tasks tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Reports & Marketing tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Templates tab . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
Toolbar icons . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Key combinations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Activating keys. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Function keys . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Hot keys . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Movement keys . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Scrolling keys . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Buttons and options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Banker . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
Borrower and prospect information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
FHA/VA loan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
Loan Application . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
Marketing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
Truth-in-Lending . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
Verification . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
Opening multiple files. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
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Contents
Chapter 3—Utilities configuration . . . . . . . . . . . . . . . . . . . . . . . 27
Company default information. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Entering default company and processing center information. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Specifying the number of days in a calendar year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Specifying the ECOA Address. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Specifying the CA Fair Lending address . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Specifying the credit denial administrator address . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Specifying default settings for the Servicing Disclosure statement. . . . . . . . . . . . . . . . . . . . . . . . . .
Printing the Acknowledgment and Agreement clause . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Overriding dates on disclosures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Specifying disclosure settings for changed circumstances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Editing the Service Provider List Disclaimer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Configuring the Privacy Policy Disclosure form settings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating the default conditions list. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Defining fee types . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Defining impound types . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Specifying the default escrow account payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Entering HMDA registration information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Defining late documents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating document categories and types . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Specifying document sequence in the document repository . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating document package types . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Setting automatic document storage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Entering warehouse lender information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Entering default investor shipping information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating the default trailing documents list . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Dropdown lists . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating dropdown lists . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating the originator dropdown list . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating the branch dropdown list. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating the city tax, state tax, and user-defined fee dropdown lists . . . . . . . . . . . . . . . . . . . . . . .
Creating escrow and title tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Setting up a proxy server . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Mobile access . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Configuring mobile access . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Specifying search fields and result format . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating custom screens. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Customizing the shortcut toolbar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Customizing screen colors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Specifying the default web browser . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Naming files automatically . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Saving files automatically . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Generating the Mortgage Identification Number automatically . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Enabling autofill options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Automatically populating City, State, and County fields . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Identifying fields and field IDs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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Chapter 4—Loan file overview . . . . . . . . . . . . . . . . . . . . . . . . . . 99
Loan file creation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 99
Creating new prospect loan files . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100
Creating new borrower loan files . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101
Duplicating loan files: Copy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 103
Duplicating loan files: Save As . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 104
Creating new co-borrower loan files . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106
Saving loan files . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 107
Saving loan files as Point compressed files (pcfs). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 107
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Searching for loan files . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Searching for prospect and borrower files . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Searching for co-borrower files . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Searching in multiple data folders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Loan pipeline setup . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Setting up the loan pipeline automatically . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Setting up the loan pipeline manually . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Removing loans from the pipeline . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Moving loan files . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Moving loan files in Point . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Moving and copying loan files from an external source . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Deleting loan files. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Linking first and second mortgage files. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating a new second loan while inking to an existing first loan file . . . . . . . . . . . . . . . . . . . . . .
Linking two existing loan files . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Removing links between loan files . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Archiving loan files . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Rebuilding lists . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Swapping and deleting prospects, borrowers, and co-borrowers . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Print and e-mail options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Configuring print options. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Setting the default printer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Specifying paper configuration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Adjusting printed forms. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Printing and previewing forms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Printing envelopes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating print groups. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
E-mailing data files. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
E-mailing forms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Saving forms as PDF files . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Downloading Point compressed files from e-mail . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
108
108
109
109
111
112
114
116
116
116
117
118
118
119
119
121
121
122
122
123
124
124
124
125
126
128
128
130
131
133
135
Chapter 5—Loan Application . . . . . . . . . . . . . . . . . . . . . . . . . . . 137
Specifying joint assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Entering mortgage type and loan terms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Entering property information and loan purpose. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Entering borrower information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Entering employment information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Entering income and housing expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Entering assets and liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Entering assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Entering liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Entering real estate owned . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Entering liabilities in a different name . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Matching liabilities to real estate owned . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Summarizing the transaction details . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Entering declarations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Printing the Acknowledgment and Agreement clause. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the government monitoring information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
138
139
140
143
144
146
148
149
151
154
155
156
157
158
159
159
Chapter 6—Disclosures and other forms . . . . . . . . . . . . . . . . . 163
Disclosures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Anti-Steering Disclosure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the Anti-Steering Disclosure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Closing Costs Worksheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the Closing Costs Worksheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Point User Guide
163
163
163
166
166
vii
Contents
Closing Disclosure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the Closing Disclosure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Field mapping tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Closing Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Transaction Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Loan Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Loan Terms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Projected Payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Costs at Closing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Loan Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Calculating Cash-to-Close . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Loan Disclosures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Adjustable Payment (AP) Table . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Adjustable Interest Rate (AIR) Table . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Loan Calculations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Good Faith Estimate. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the Fees Worksheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the Fee Distribution Worksheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the Good Faith Estimate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Documenting fee changes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the Service Providers List. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
HOEPA home counseling disclosures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the HOEPA Homeownership Counseling screen . . . . . . . . . . . . . . . . . . . . . . . . .
Initial ARM Disclosure statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the Initial ARM Disclosure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Loan Estimate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the Loan Estimate. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Field mapping tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Loan Estimate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Loan Terms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Projected Payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Calculating Cash to Close . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Adjustable Payment (AP) Table . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Adjustable Interest Rate (AIR) Table . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Comparisons. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Other Considerations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Truth-In-Lending Disclosure Statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the Truth-In-Lending Disclosure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the High Cost Loan Disclosure (Truth-In-Lending Section 32) . . . . . . . . . . . . . . .
State-specific disclosures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Application Log (NY) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Brokerage Contract (FL) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CA Fair Lending Notice Disclosure (CA) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
California Mortgage Loan Disclosure Statement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the CA MLDS Traditional — 882 and 883 . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the CA MLDS Non-Traditional — 885. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Lender Disclosure (FL) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Pre-Application Disclosure (NY) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Texas mortgage disclosures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Other disclosures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Affiliated Business Disclosure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Credit Score Information Disclosure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Disclosure notices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Equal Credit Opportunity Act. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Flood Insurance Disclosure. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
viii
167
167
171
171
172
172
173
173
174
174
175
177
178
178
179
180
180
192
193
204
205
209
209
210
211
215
215
216
217
217
218
219
220
221
222
223
223
223
224
232
233
233
234
235
235
235
239
245
246
246
248
248
248
250
250
250
Calyx Software
Contents
HELOC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
INK-it Disclosure and Consent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Patriot Act Disclosures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Privacy Policy Disclosure. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Servicing Disclosure Statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Forms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Borrower and prospect information screens . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the Borrower and Prospect Information screens . . . . . . . . . . . . . . . . . . . . . . . . .
Borrower’s Signature Authorization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Brokerage Business Contract (Generic) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Cash Flow Analysis (1084)/Self-Employed Income Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Flood Certification Work Order . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Flood Hazard Determination . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Flood Hazard Notice. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Gift Letter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Income and Debt Worksheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Intent to Proceed with Application . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Itemization of Amount Financed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Loan Submission Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the Loan Submission Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Mortgage Loan Commitment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the Mortgage Loan Commitment screen . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Mortgage Loan Origination Agreement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Request for Appraisal, Evidence of Insurance, Payoff, or Title Commitment . . . . . . . . . . . . . . . . .
Request for Survey . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Request for Tax Return (4506/4506–T) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the Request for Tax Return (4506/4506-T) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Notice of Action Taken . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the Notice of Action Taken . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Social Security Number verification. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the Social Security Number verification . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tax Authorization Form 8821. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tax Information (or 1098 Data) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Transmittal Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the Transmittal Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Mortgage insurance, USDA fees, and escrow (impound) account details. . . . . . . . . . . . . . . . . . . . . . .
Calculating ongoing escrow payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Calculating mortgage insurance, funding fees, and USDA fees. . . . . . . . . . . . . . . . . . . . . . . . . . .
250
252
252
252
252
253
253
254
259
259
260
260
260
260
261
261
261
261
261
261
264
264
266
266
266
266
267
273
273
276
276
277
277
277
278
283
283
285
Chapter 7—Banker functions . . . . . . . . . . . . . . . . . . . . . . . . . . . 289
Registering and locking loans for sale . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tracking underwriting status . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Recording and tracking loan conditions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Funding loans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Closing loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Basic Loan Information. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Borrower . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Closing Instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Construction Loans/Contractors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Generating the Settlement Statement (HUD-1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Loan Program Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Property Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
State Specific Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Trust . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Submitting and tracking warehouse lender loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tracking loan shipment status . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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326
332
334
340
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347
350
354
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364
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Contents
Tracking investor requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Recording loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Supplementary screens . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Appraisal information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Escrow and title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Insurance information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Notes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Program and rate lock details . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Suspense items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
376
380
383
383
384
386
389
389
392
Chapter 8—FHA and VA loans . . . . . . . . . . . . . . . . . . . . . . . . . . 395
FHA loans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
FHA purchase loan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the Borrower and Prospect Information screens . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the Fees Worksheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the FHA Loan Underwriting and Transmittal Summary . . . . . . . . . . . . . . . . . . . .
Creating an FHA refinance file . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the Prospect and Borrower Information screens . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the Fees Worksheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the FHA Statutory Requirements Worksheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
FHA/VA Addendum to the URLA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
FHA 203(k) Worksheet (HUD–92700) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
FHA Application for Property Improvement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
FHA Consumer Choice Disclosure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
FHA Request for Insurance Endorsement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
FHA DE Statement of Appraised Value (HUD-92800.B). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
FHA DE Analysis of Appraisal Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Request for Certificate of Veteran Status . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
FHA Refi of Borrowers in Neg Equity (HUD-92918) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
VA loans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
VA Loan Analysis (26-6393) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
VA Refinance Worksheet (26-8923) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
VA Loan Summary Sheet (26-0286) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
VA Loan Comparison . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
VA Certificate of Eligibility (26-1880) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
VA Verification of Benefit–Related Indebtedness (26-8937) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
VA Request for Certificate of Reasonable Value (26-1805/26-1843) . . . . . . . . . . . . . . . . . . . . . . .
VA Certificate of Loan Disbursement (26-1820) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
395
395
395
398
399
404
405
405
406
410
411
413
413
413
414
414
415
415
417
417
418
419
419
419
421
422
425
Chapter 9—Integrated products and services . . . . . . . . . . . . . 427
Enabling and disabling providers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Lenders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Using the lender interface . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Requesting services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Obtaining an authentication certificate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Checking pending request status . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Retrieving, printing, and saving service requests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Correcting submission errors when ordering services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
AVM reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Populating AVM data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Initial disclosures and closing documents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Specifying investors and products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ordering initial disclosures and closing documents. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Viewing loan data analysis and correcting submission errors . . . . . . . . . . . . . . . . . . . . . . . . .
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428
429
430
430
433
434
434
436
436
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437
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Contents
Credit reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Populating liabilities and viewing credit reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Flood certifications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Title and escrow. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ordering title reports and escrow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ordering title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ordering escrow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ordering title and escrow, borrower information. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ordering title and escrow, order details. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ordering title and escrow, agent information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ordering title and escrow, lien payoff information. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ordering title and escrow, other payoff information . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Verifications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Requesting verifications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
VOE/VOI reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Requesting employment and income verifications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Populating employment into the Loan Application . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Paying for a service by credit card . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Interfaces . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Installing interfaces and exchanging data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Viewing the Interface Transaction history log. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Fannie Mae . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Connecting to the Fannie Mae web interface . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Accessing Fannie Mae . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Navigating the Fannie Mae screens . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing and submitting the Fannie Mae Loan Application . . . . . . . . . . . . . . . . . . . . . . . .
Fannie Mae Addendum . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Submitting a loan to Fannie Mae for underwriting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ordering and viewing a credit report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Fannie Mae EarlyCheck . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Connecting to the Fannie Mae EarlyCheck web interface. . . . . . . . . . . . . . . . . . . . . . . . . . . .
Viewing EarlyCheck results . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Freddie Mac . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Connecting to the Freddie Mac LP web interface . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing the Freddie Mac Addendum . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Completing and submitting the Freddie Mac Loan Application . . . . . . . . . . . . . . . . . . . . . . .
Viewing results . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Viewing the Loan Prospector Feedback Certificate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Updating Point files from Freddie Mac . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
FHA TOTAL Scorecard . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
LoanScoreCard QM findings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Generating a QM report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Uniform Collateral Data Portal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Setting UCDP preferences . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Submitting appraisals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
WebCaster. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Setting WebCaster preferences . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Updating loan status . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Viewing loan status . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Importing WebCaster loan applications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sending documents to borrower WebCaster accounts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sending document signature packages to borrowers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Retrieving signed documents from borrowers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
446
447
449
450
451
451
455
458
459
461
461
463
464
464
467
467
470
471
472
472
475
475
476
476
477
478
478
480
481
482
482
483
486
486
487
489
491
491
492
492
494
494
495
496
497
504
505
508
509
510
512
516
519
Chapter 10—Verifications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 521
Completing verification forms. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 521
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Chapter 11—Loan tracking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 525
Loan status tracking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tracking loan status and progress . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tracking third party documents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Document requests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tracking documents requested from borrowers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sending document requests to borrowers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tracking conditions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Editing conditions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Locking rates and registering loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tracking verifications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tracking title conditions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tracking HMDA reporting information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tracking RegulatorConnect data. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tracking contacts and agencies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tracking loan team members . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tracking trust account information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tracking loan profit or loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
526
526
528
530
530
535
537
538
538
547
548
549
551
553
554
556
557
Chapter 12—Audit trail . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 563
Accessing the loan file audit trail . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 564
Searching for log entries. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 565
Printing the audit trail log . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 566
Chapter 13—Loan scenarios . . . . . . . . . . . . . . . . . . . . . . . . . . . . 569
Subordinate financing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating standalone second mortgages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating a new first mortgage with a new or existing second. . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating second mortgages for an investment property or second home . . . . . . . . . . . . . . . . . . .
Creating concurrent purchase loans (80-10-10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating concurrent loans for investment properties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Construction loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating construction loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating construction-to-permanent loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating construction loans with required reserves. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Investment loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating investment loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
569
569
570
572
574
577
581
581
582
583
584
584
Chapter 14—Electronic loan files. . . . . . . . . . . . . . . . . . . . . . . . 587
eLoanFile . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 587
Chapter 15—Electronic document storage . . . . . . . . . . . . . . . . 589
Accessing the document repository . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Adding Point forms to the repository . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Adding non-Point documents to the repository. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Extracting pages from a document in the repository . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Saving documents in the document repository to another location . . . . . . . . . . . . . . . . . . . . . . . . . . .
Printing documents in the document repository . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
E-mailing files from the document repository . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Searching for documents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Comparing documents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
590
592
597
600
603
605
606
608
608
Chapter 16—Templates. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 611
Loan program templates. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 611
Creating loan program templates. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 612
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Closing cost scenario templates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating closing cost scenario templates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Master file templates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating master file templates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Using master file templates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Editing templates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Deleting templates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Import and export templates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Data import templates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating data import templates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Editing data import templates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Data export templates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating a data export template from the sample . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating and editing data export templates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
613
613
615
615
616
616
616
617
617
617
619
619
619
621
Chapter 17—Reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 625
Standard reports. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Report templates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Generating standard reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Types of reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Business Analysis Summary (Banker with Excel) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Dash board . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yearly trend . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Monthly trend. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
LO summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Business Summary Report (with Excel) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Contact Information report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Late Documents report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Loan Originator Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Customizing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Loan Pipeline Report (with Excel) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Pipeline status . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Detail Status . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Loan Profit Summary (Banker with Excel) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Cost and profit summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Warehouse summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Loan Status Report (with Excel 2007). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
NMLS Mortgage Call Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Preparing files for the report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Generating the report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Reviewing the report output . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
RegulatorConnect Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Using functions to create formulas in reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating custom reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Specifying data content . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Specifying template sort options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Specifying output options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Specifying Point Report Viewer output. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Specifying Microsoft Excel file output . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Specifying generic Microsoft Excel output . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Specifying preformatted Microsoft Excel output . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Specifying mail merge output . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Adding a link to a mail merge document. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Point User Guide
625
626
629
631
631
632
632
633
634
634
635
635
635
636
636
636
637
637
637
638
638
638
639
639
639
640
642
644
663
666
668
668
672
672
673
674
674
674
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Editing a link to a mail merge document . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Unlinking a link to a mail merge document . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Manipulating report output . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Manipulating reports in Point Report Viewer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Formatting Point Report Viewer reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Filtering report data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sorting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Subtotaling . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Saving and exporting reports in Point Report Viewer . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Manipulating Excel report output . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
677
677
678
678
678
678
680
681
682
683
Chapter 18—Marketing tools . . . . . . . . . . . . . . . . . . . . . . . . . . . 687
Standard marketing documents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Marketing templates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Generating address labels . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Generating a standard marketing letter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Generating a standard marketing e-mail . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Custom forms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating custom forms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating custom forms from existing Microsoft Word documents . . . . . . . . . . . . . . . . . . . . . . . .
Printing custom forms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Customizing marketing documents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating open house flyers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Adding a company logo to marketing letters . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Documenting borrower and prospect personal information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Client communication . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tracking client communication. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Documenting client discussions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Amortization schedules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating an amortization schedule for a fixed rate loan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating an amortization schedule for an adjustable rate loan . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating an amortization schedule for an ARM with negative amortization . . . . . . . . . . . . . . . . .
Customizing payment schedules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Customizing automatically. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Customizing manually . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Printing an amortization schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Cash-to-close statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Consolidating consumer debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Comparing loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Comparing loan scenarios . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Printing loan comparisons . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating a sample comparison of FHA vs. conventional loan . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Comparing renting to owning . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Prequalification. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Prequalifying by property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Prequalifying by prospect . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
687
687
688
688
689
690
690
693
694
694
695
696
697
698
698
700
701
702
703
703
704
704
705
705
705
706
708
708
711
711
712
714
714
717
Chapter 19—Tasks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 721
Creating tasks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Processing task reminders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Searching for tasks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Searching for tasks (basic search) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Searching for tasks (advanced search) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Editing tasks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Closing tasks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Deleting tasks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
xiv
721
724
724
724
726
728
730
730
Calyx Software
Contents
Printing tasks and task lists . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 730
Accessing current tasks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 731
Chapter 20—Data import and export . . . . . . . . . . . . . . . . . . . . 733
Data import . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Importing text files . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Importing Fannie Mae files . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Importing multiple text files (batch import). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Importing multiple files in Fannie Mae format . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Data export . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Exporting files to other formats . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Exporting files to Fannie Mae format . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Exporting files to Fannie Mae ULDD, Freddie Mac ULDD, or both . . . . . . . . . . . . . . . . . . . . . . . . .
733
733
734
735
736
737
737
738
738
Chapter 21—Contact management (Cardex) . . . . . . . . . . . . . . 741
Cardex database overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating categories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Entering data into the database . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Editing database entries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Copying, deleting, and sorting records . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Copying records. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Deleting records. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sorting records . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Searching for records . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Using the Advanced Search dialog box. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Printing Cardex records . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Printing multiple records . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Printing individual records . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Data transfer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Transferring database entries into a loan file . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Transferring information from a loan file . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Data import and export . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Importing a Cardex database . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Importing Outlook contacts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Importing comma delimited files . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Exporting data from Cardex . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
741
742
743
744
745
745
746
746
746
747
748
748
749
750
750
750
751
752
752
754
756
Chapter 22—HMDA reporting . . . . . . . . . . . . . . . . . . . . . . . . . . 759
Running the HMDA report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 759
Sending the HMDA file to HUD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 760
Chapter 23—Data folder and user management . . . . . . . . . . . 763
Accessing Point Administrator . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Managing data folders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Establishing initial ownership of the Primary Data Folder . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Creating new data folders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Copying folder settings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Modifying data folder properties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Connecting to existing data folders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Disconnecting data folders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Changing the order of folders in dropdown lists . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Data folder security . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Setting data folder security and accessibility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Setting user access to data folders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Copying user settings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Modifying users . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Point User Guide
763
764
764
766
768
769
770
771
772
773
773
774
777
777
xv
Contents
Removing user access . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Changing the template directory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
PointCentral . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Configuring the client connection . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
778
778
779
779
Chapter 24—Combined field IDs . . . . . . . . . . . . . . . . . . . . . . . . 781
Chapter 25—QM report information . . . . . . . . . . . . . . . . . . . . . . . 1
Glossary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
xvi
Calyx Software
Preface
This information contains an overview of Point and its functions, as well as instructions for
installing, customizing, and using Point.
If you are new to Point, this information will get you started and help you as you become
more comfortable with the application.
If you are an experienced Point user, it can serve as a reference guide for information
about more advanced functions.
In this topic
• Document conventions
• Product assistance
This information is intended for brokers, lenders, and other Point users. It provides a road
map for using Point to streamline your work.
Document conventions
The document conventions used in this information are described in this topic.
Typographical conventions
The following conventions are used in this information to identify different types of controls
and screen characteristics:
Format
Example
Button
Click the Calculate button at the bottom of the
workspace.
Check box
Select the Conventional loan type check box.
Dropdown list option
Dropdown list
Select Start Rate from the Initial Pmt Rate dropdown
list.
Field
Enter the loan amount in the Loan Amount field.
Links
•
•
•
Refer to Creating new borrower loan files, on
page 101, for more information about creating
loans.
For product support information, go to
www.calyxsupport.com.
The Appraisal button opens the Appraisal
Information dialog box which is used to record
information about the property appraisal.
Menu name or path
Select File > New > Loan... > Borrower.
Radio button
Select the Reports radio button and select the
Contact Information Update report from the
dropdown list.
Screen
Open the Borrower Information screen.
Section
Complete the Type of Mortgage and Terms of Loan
section.
xvii
Preface
Format
Example
Tab
Select the Templates tab from the navigation panel.
User input
Enter 500,000 in the Loan Amount field.
Terminology
The following terminology is used throughout this information.
Example
Instruction
<Ctrl>+<F>
Press the <Ctrl> key on the keyboard while also pressing the
<F> key.
Enter or complete
Refers to manual entry of information on the screen.
Utilities > Company
Defaults > Company Info
Select the Utilities menu, choose Company Defaults, then
select Company Info.
Populate
Refers to Point automatically completing values that flow
between screens.
Select
Highlight an item by clicking the mouse and dragging it over
the item or double-click the item to select it.
Select is also used in the context of selecting an option from a
dropdown list or from a group of check boxes or radio
buttons.
Related information
•
The User Guide is online at www.calyxsupport.com
•
Access Knowledge Base articles at http://kb.calyxsupport.com/kb/
•
The latest updates are available at www.calyxsoftware.com
Product assistance
Point documentation is available in the following formats:
•
•
Context-sensitive help
Adobe Acrobat pdf file (optimized for double-sided printing)
The following resources are available for assistance with Point:
Type
Description
Blue links
Blue links are included for fields that generate frequent
questions. Click the field name link on the Point screen for
more information about that field.
Knowledge Base articles
Access Knowledge Base articles by:
•
•
xviii
Selecting Help > Support Online > Knowledge Base
from the menu
Opening a Web browser and entering:
http://kb.calyxsupport.com/kb/
Help
•
•
Press <F1>.
Click the Help icon on the toolbar from any screen.
Product Information
General product information and links to product support
pages and the user guide are available at
www.calyxsupport.com.
Calyx Software
Product assistance
Type
Description
Training
Attend online classes taught by certified Calyx trainers.
•
•
•
•
User guide
For more information, select Help > Support Online >
Calyx Training.
Go to www.calyxtraining.com
Go to www.calyxsoftware.com and click Training
E-mail training@calyxsoftware.com
Toll Free: 800-362-2599
Fax: 214-252-5650
Select Help > Point User Guide to open a PDF copy of the
Point User Guide or you can access it from
www.calyxsupport.com.
The following support is available:
Contact
Supports
Sales
• E-mail: sales@calyxsoftware.com
• Call 800-36-CALYX (800-362-2599)
– Press 1
•
•
•
•
Point
PointCentral
WebCaster account subscription
Website activation and CD-ROM
related issues
Technical support
•
•
•
•
Installation
Error messages
Software assistance
Procedural questions
•
•
E-mail: support@calyxsoftware.com
Call 800-34-CALYX (800-342-2599)
– Press 2
Loan support
Loan processing issues such as:
•
•
E-mail: support@calyxsoftware.com
Call 800-34-CALYX (800-342-2599)
– Press 1
•
•
•
Ratios
Calculations
Special loans
WebCaster support
• E-mail:
webcastersupport@calyxsoftware.com
• Call 800-34-CALYX (800-342-2599)
– Press 3
•
•
Website setup
Domain assistance
PointCentral support
• E-mail:
pointcentralsupport@calyxsoftware.com
• Call 800-34-CALYX (800-342-2599)
– Press 5
•
•
Installation
Error messages
Attention
When you contact Technical Support, have the following information
available:
•
•
•
•
Point User Guide
Your name
Your company name
Your version of Point
Your account ID
xix
Preface
Operating systems
You might experience some technical difficulties with some functions if Point is run with an
operating system not listed in the system requirements. If this occurs, contact Calyx
Software Support. Calyx Software Support will offer assistance until the operating system
is deemed fully incompatible with Point.
Point file encryption levels
•
•
•
•
Borrower and prospect files are compressed in a proprietary format but are not
encrypted
E-mailed Point compressed files (.PCF) are encrypted with AES 256-bit.
E-mailed Point PDF files are encrypted with a 128-bit encryption level if password
protected.
Most service interface vendors use 128-bit SSL for electronic document requests.
Conventional data folder storage
•
•
•
xx
A data folder can contain approximately 1500 borrower or prospect files.
A data folder should contain only two sub folders:
– A borrower sub-folder that houses all borrower file data.
– A prospect sub-folder that houses all prospect file data.
A data folder should contain only necessary configuration settings and index files,
such as borrower.index (*.index, *.idx) (*.ini, *.usr, *.sec).
Calyx Software
Summary of changes
Version 9.2
This section summarizes the significant improvements and enhancements to Point
Version 9.2 and refers you to relevant sections for more information. Refer to the release
notes for this version for additional details about this release.
This release focuses on the TRID compliance requirements and includes the following
new functionality.
Loan Estimate
The Loan Estimate screen and form were added in this release. The screen
contains primarily read-only fields which are populated with existing data from the
Good Faith Estimate, Fees Worksheet, and Truth-In-Lending screens. Refer to
Loan Estimate, on page 215, for more information.
Closing Disclosure
The Closing Disclosure screens and form were added in this release. The Closing
Disclosure in Point is comprised of five screens that contain primarily read-only
fields which are populated with data from the Closing Costs Worksheet. Refer to
Closing Disclosure, on page 167, for more information.
Closing Costs Worksheet
The Closing Costs Worksheet screen was added in this release. The Closing
Costs Worksheet is used to itemize fields that populate the aggregate charges on
the Closing Disclosure. Users can transfer data from the Fees Worksheet using
the Copy From Fees Worksheet button. Refer to Closing Costs Worksheet, on
page 166, for more information.
Version 9.1
This section summarizes the significant improvements and enhancements to Point
Version 9.1 and refers you to relevant sections for more information. Refer to the release
notes for this version for additional details about this release.
Electronic document signing
With INK-it™, a document signing tool that integrates with WebCaster and Point,
you can send document packages to borrowers to obtain electronic signatures. A
third-party vendor receives the document package, sends an email with a link to
the borrower to notify them that they have documents to sign, and authenticates
the borrower when they access the documents. Refer to Sending document
signature packages to borrowers, on page 516, for more information.
Freddie Mac and Fannie Mae field updates
Amount fields were added to the Closing Costs screen to comply with ULDD data
requirements. Refer to Tracking loan shipment status, on page 364, for more
information.
Fields were added to the Freddie Mac Addendum and Fannie Mae Addendum to
support merged credit reports and to identify the credit provider when credit is not
ordered by using the Point services. Refer to Fannie Mae Addendum, on
page 478, and Completing the Freddie Mac Addendum, on page 487, for more
information.
xxi
Summary of changes
Fees Worksheet
A finance indicator was added to the Fees Worksheet to indicate that the
corresponding fee is included in the loan amount. A button was also added to
select all fees at one time. Refer to Completing the Fees Worksheet, on page 180,
for more information.
Version 9.0, Service Pack 2
This section summarizes the significant improvements and enhancements to Point
Version 9.0, service pack 2 and refers you to relevant sections for more information. Refer
to the release notes for this version for additional details about this release.
Homeownership counseling disclosure
Added the HOEPA Homeownership Counseling screen which is used to help
you comply with the HOEPA rules for disclosure and management of home
ownership counseling. This feature includes forms for all scenarios including
High-Cost, Non-High-Cost, First Time Borrower, the Counseling list, Receipt
Acknowledgment, and Acknowledgment of Counseling Certification. Refer to
HOEPA home counseling disclosures, on page 209, for more information.
Social Security Number Verification
Added the Social Security Number Verification screen to collect the data
necessary to complete the Authorization for the Social Security Administration
(SSA) to Release Social Security Number (SSN) Verification form. For more
information, refer to Social Security Number verification, on page 276.
Income and debt worksheet
Added the print-only Income and Debt Worksheet to help analyze criteria to
determine the borrower's ability to repay their loan. Refer to Income and Debt
Worksheet, on page 261, for more information.
Version 9.0
This section summarizes the significant improvements and enhancements to Point
Version 9.0 and refers you to relevant sections for more information. Refer to the release
notes for this version for additional details about this release.
Multiple down payment sources
Added support for multiple down payment sources which conforms to updated
Fannie Mae and Freddie Mac ULDD data standards. Refer to Entering property
information and loan purpose, on page 140, and Tracking loan shipment status,
on page 364, for more information.
Qualified Mortgage Findings report
Added a new interface with LoanScoreCard that generates a Qualified Mortgage
Findings report and provides ability-to-repay recommendations. For more
information, refer to LoanScoreCard QM findings, on page 494.
Version 8.1
This section summarizes the significant improvements and enhancements to Point
Version 8.1 and refers you to relevant sections for more information.
xxii
Calyx Software
Version 8.1
Mobile access configuration
The Default new loan type option on Mobile Access Configuration dialog box
was removed. The mobile user will determine the loan type at the time they create
the loan. Refer to Configuring mobile access, on page 84, for more information.
Borrower auto file naming is required for Point mobile users to save new loan files
from their mobile devices. Auto file naming parameters are set in the Point Auto
File Naming utility. Refer to Mobile access, on page 84 and Naming files
automatically, on page 93 for more information.
Investment Information dialog box fields relocated
Removed the Investment button and moved the Investment Information
dialog box fields to the Loan Summary section on the Borrower Information
screen. Refer to Borrower and prospect information screens, on page 253.
Mortgage Insurance Premium/Funding Fee/USDA Annual Fee
The USDA annual fee calculation was corrected to accurately compute USDA
fees. The Mortgage Insurance Premium/Funding Fee/ USDA Annual Fee
dialog box was updated to accommodate this change so that the USDA fee is
calculated from the value entered in the MIP, FF, PMI, USDA field and not a
separate field. In addition, the Mortgage Insurance Premium/Funding Fee/
USDA Annual Fee dialog box title was changed to PMI/MIP/FF/USDA. Refer
to Calculating mortgage insurance, funding fees, and USDA fees, on page 285,
for more information.
Mortgage Insurance buttons
The Mortgage Insurance, Mtg Insurance, and MtgIns buttons were
consolidated to remove redundancy and inconsistencies throughout Point. The
screens affected are the Borrower Information screen, Loan Application—
page 2, and the Fees Worksheet. When any of these buttons are clicked on
any of these screens, the PMI/MIP/FF/USDA dialog box is displayed.
Enhancements and fixes
Several software errors were fixed and enhancements were made to various
functions in Point to enhance the user experience.
Point User Guide
xxiii
1
Installation
The following note applies only to users upgrading from Point version 7.2 or earlier.
Important
Point 9.2 contains several fields that can cause data discrepancies if your
organization shares files between version 7.2 (or earlier versions) and 9.2.
The data from the old fields are transitioned to new fields the first time
existing files from 7.2 are opened in version 9.2. Problems can occur
when a 7.2 user opens a file after a 9.2 user has modified the data. For
example, if a 9.2 user modifies and saves a loan file then re-opens the
loan file after a 7.2 user has modified the file, the calculations in several
screens will not match.
To avoid possible confusion, each individual in your office who uses Point
should update to 9.2 as soon as possible. The following screens are affected:
•
The Forms > Fees Worksheet screen has more fees and a paid by
split calculator. If a 7.2 user adds more fees or changes the Paid By
dropdown value after a 9.2 user has opened the file, the Paid By
dropdown will not be moved again to 9.2. In addition, the
Compensation From Rebate field has changed and will cause a
calculation mismatch in GFE Block 1 if a 7.2 user modifies the value,
and a 9.2 user opens the file again.
•
New calculations were added in the Track > Loan Profit/Loss
screen which were not available in earlier versions—the Net Profit
calculation will therefore not be the same. If a 7.2 user modifies the
data on the Loan Profit/Loss screen after a 9.2 user has opened
the file, the calculations will not match.
•
The Track > Conditions screen was upgraded to synchronize with
conditions on the Banker > Conditions screen. If a 7.2 user adds
conditions after a 9.2 user has opened the file, the conditions will
not be recognized when a 9.2 user opens the file again.
•
A number of retired field IDs were re-used from older Point versions.
In order to re-use these field IDs, Point 9.2 will clear any old data in
the fields upon the first time users open existing 7.2 files in version
9.2. Some of the retired field IDs were taken from the previously
removed MLDS Traditional Form 883, which had connections to the
Initial Fees Worksheet in 7.2. If a 7.2 user modifies fees on the
Initial Fees Worksheet and a 9.2 user opens the file again, some
data could be overwritten in the following screens:
–
–
–
Loan Profit/Loss, Other Splits and Deductions section.
Banker > Warehouse & Purchase Advice, Advance Rate
Calculation section
Banker > Closing Documents > HUD-1 Settlement
Statement > Page 2, 1300 section and Banker > Closing
Documents > HUD-1 Settlement Statement > Page 3,
Comparison section
1
Installation
Operating requirements
System requirements
The following system requirements are needed to install Point:
Component
Version
Processor speed
•
•
•
Microsoft Windows 8®: 800 MHz (or higher)
Microsoft Windows 7®: 800 MHz (or higher)
Microsoft Windows Vista®: 800 MHz (or higher)
Memory (RAM)
•
•
•
Microsoft Windows 8: 1 GB, minimum
Microsoft Windows 7: 1 GB, minimum
Microsoft Windows Vista: 1 GB, minimum
Disk space
•
•
•
•
Point application: 300MB
Microsoft Internet Explorer® 8.0: up to 200 MB
Microsoft .NET Framework®: up to 415 MB
Electronic document storage: 20 MB per loan file (on
average)
Printer
Any Microsoft Windows®-compatible printer (1 MB memory is
required for laser printers)
Other
•
•
•
Keyboard: Microsoft Windows compatible
Mouse: Microsoft Windows compatible
Monitor: SVGA 16-bit color or higher; 1280 x 1024 screen
resolution, minimum
Important
Point does not support multi-functional printers. Calyx can provide some
limited support for these types of printers, however, the end user is
ultimately responsible for any problems that occur when used with Point.
Software requirements
The following software is required to use Point:
Component
Version
Operating System
One of the following operating systems is required:
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•
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2
Microsoft Windows 8
Microsoft Windows 7
Microsoft Windows Vista
Microsoft Server 2012, Service Pack 1, or later
Microsoft Server 2008, Service Pack 2, or later
Microsoft Windows Server® 2003, Service Pack 1, or later
Calyx Point is not supported on Apple MacIntosh computers
Web browser
Microsoft Internet Explorer® Version 8.0, or later
Microsoft.NET
Framework
•
Version 4.0
During installation, Point detects whether .NET Framework
is already installed and automatically installs version 4.0
during the installation process.
Calyx Software
Installing Point
Component
Version
Network
•
Modem/Internet
Connectivity
•
Other
•
A peer-to-peer file server that runs Microsoft Windows
2000* or a server that runs Microsoft Windows Server
2000, Server 2003, Server 2008, or Server 2012
*Although Point does not run on Microsoft Windows 2000
operating systems, a machine with Microsoft Windows 2000
can host your file server.
An active Internet connection is required to install Point and
access Internet-enabled services in Point.
Adobe Acrobat Reader© Version 5.0, or later, is required for
reading PDF files
• Microsoft Word® 2000, or later, and Microsoft Excel®
2000, or later, are required for some Point features
*Note for sites that use Microsoft Outlook: Point supports only
32-bit Microsoft Outlook, 64-bit Microsoft Outlook is not
supported in Point.
Important Network information
Point is compatible with Microsoft peer-to-peer and client-server
networks. Calyx does not support the operation of Point or any data
hosted on a storage device and RAID Arrays, or the operation of Point on
the following networks:
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Novell networks
Linux environments
Windows 98
Windows 2000
Windows ME
OS/2
UNIX
Any thin-client networks such as Citrix or Microsoft Terminal Services
Installing Point
When an end user is assigned a Point seat, they will receive an e-mail notification that
contains a link and instructions for installing Point.
To install Point:
1
Open the e-mail account that was used to send you the installation instructions.
2
Open the confirmation e-mail from MyCalyx.
Point User Guide
3
Installation
3
Click the installation link to open the Calyx Software License Agreement.
4
Select the check box to accept the license agreement and click Install.
The installation is completed per the settings in the installation group that is assigned
to you. If an installation group is not specified, Point Administrator is installed and the
default templates and data folders are created.
4
Calyx Software
User interface
2
The basic Point user interface is comprised of three panels that contain a combination of
tabs, menus, a toolbar, and buttons.
Point offers multiple options for performing most operations. These options include:
•
•
•
•
•
Navigation panel tabs
Toolbar icons
Key combinations, including:
– Activating keys
– Function keys
– Hot keys
– Movement keys
– Scrolling keys
Buttons
Menus
Review this topic before you begin processing loans to familiarize yourself with Point and
the user interface.
In this topic
•
•
•
•
•
Screen components
Navigation panel
Toolbar icons
Key combinations
Buttons and options
5
User interface
Screen components
When you open a loan file, the Borrower Information screen is displayed in the
workspace. The following figure depicts a typical Borrower Information screen:
Menu bar
Information
bar
Toolbar
Navigation
panel
Current status
Loan toggle
buttons
Shortcut toolbar
Loan checklist
Workspace
Command bar
Task bar
The Point screen is comprised of the following three panels:
•
•
•
Navigation panel
Workspace
Information bar
These panels are always accessible when a loan file is open.
Navigation panel
The navigation panel, located on the left side of the screen, is used to access Point
features. It is always available when Point is open, and contains the following tabs:
•
•
•
•
•
Loans
Pipelines
Tasks
Reports & Marketing
Templates
Click a tab on the navigation panel to launch the corresponding feature from any screen in
Point.
To expand the workspace, collapse the navigation panel by clicking the X button next to
the title.
6
Calyx Software
Navigation panel
The tabs display to the left of the expanded workspace, as shown in the following figure.
To restore the navigation panel, click any tab.
Loans tab
Use the Loans tab to access prospect and borrower loan files in Point and retrieve loan
applications from WebCaster.
Point User Guide
7
User interface
The following search options are available for locating loan files:
Data Folder
Use the Data Folder dropdown list to select where to perform the search. The
Primary Data Folder is the default data folder and is available immediately after
installation. After installation, you can create additional data folders as needed.
Prospect/Borrower
Specifies the type of loan file to search.
Search By
Specifies the criterion to search from the dropdown list.
Search
Initiates the search for files that match the selected criteria.
Advanced Search
Opens the Advanced Search dialog box which is used to refine your search
criteria and search in multiple data folders.
List Co-Borrowers
Lists the co-borrower files in the selected data folder.
Online Loan Applications
This button is used to import new loan applications that were filled out in
WebCaster.
Related information
•
Refer to Searching for loan files, on page 108, for
information about locating loan files.
•
Refer to Creating new data folders, on page 766, for
information about creating data folders.
Shortcut toolbar
The shortcut toolbar is a part of the navigation panel where the various Point forms are
listed. It is an alternative to using the Forms menu to access screens.
The shortcut toolbar is not available when you create a master template, therefore you
must select the forms to include in your template from the Forms menu.
8
Calyx Software
Navigation panel
Use the First Mtg and Second Mtg buttons to toggle between linked first and second
mortgage files. These buttons are visible only after a second mortgage is linked to the first
mortgage file.
Related information
•
Refer to Linking first and second mortgage files, on
page 118, for information about linking first and second
loan files.
•
Refer to Chapter 13, Loan scenarios, for information
about processing second mortgages.
Information bar
The information bar is divided into two sections; Current Status and Loan Checklist.
Minimize the information bar by clicking the X button at the top of the bar. The information
bar is visible from any screen in an open loan file.
Current Status
The Current Status section includes important loan data such as:
•
•
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•
QM finding
Loan status
First or second loan
Amount
Property address
Type and purpose
Payment
Note and Qual rates
Payment
The Update Status button opens the Update Status dialog box, which imports loan
information from the Status and Checklist screen (Track > Status).
Point User Guide
9
User interface
Loan checklist
The loan checklist shows the status of document deliverables that are required for the
loan, such as a credit report or appraisal.
This checklist tracks the following dates for each item:
•
•
•
Order date
Due date
Received date
The first two check boxes indicate if the item was ordered and received. If the item is
checked, hover the mouse over the check box to display the date the item was completed.
Double-click an item or click the Open Detail button to open an information dialog box for
the selected item. Use this dialog box to update the item status. Information that is added
or updated in this dialog box automatically updates the corresponding tracking screen.
Related information
•
Refer to Loan status tracking, on page 526, for
information about adding and updating items that are
listed on the loan checklist and for information about the
Status and Checklist screen.
•
See Chapter 11, Loan tracking, for more information
about tracking.
Pipeline tab
Use the Pipeline tab to manage how you view the loans in the Pipeline view and receive
status notifications for changes, tasks, and conditions on active loans. You also use the
Pipeline tab to manage how you view loans on your mobile device.
The following buttons are available:
Pipeline Setup
Opens the Pipeline Setup dialog box which is used to specify the options used
to determine which files are shown on your pipeline.
10
Calyx Software
Navigation panel
Refresh
Updates the Pipeline view to include any recent additions or changes to the
pipeline.
Related information
Refer to Loan pipeline setup, on page 111, for more information about
the loan pipeline.
Tasks tab
Use the Tasks tab to search for specific tasks without having to scroll through multiple loan
files.
Use the following search options to specify your search criteria:
Data Folder
Indicates the data folder that is currently in use.
Search Tasks
Specify the type of task that you want to find.
In
Specify the data folder to be searched (Current or All Folders).
Search
Finds and lists tasks by the criteria selected.
Advanced Search
Launches the Advanced Task Search dialog box.
Related information
See Chapter 19, Tasks, for more information about tasks.
Point User Guide
11
User interface
Reports & Marketing tab
The reports and marketing functions are accessible from the Reports & Marketing tab.
Use reports to manage day-to-day business events and clients. Use marketing documents
to help you market loans effectively by creating custom letters, e-mails, and mailing labels.
You can also create queries and customize letters and e-mails with HTML using Microsoft
Word® or Microsoft Outlook®.
Important
It is important that you verify that the time and date settings
on your computer are correct before you run any reports.
The following options specify where the data is to be retrieved when the report is
generated:
Select All/Deselect All
Toggles between Select All or Deselect All when selecting data folders. Only the
data folders to which you have access are displayed.
Prospect/Borrower
Specifies the file type from which you generate your report. You can select both
file types as well as co-borrowers.
Related information
12
•
See Standard reports, on page 625, for more
information about building and running reports.
•
See Standard marketing documents, on page 687, for
more information about marketing documents.
Calyx Software
Navigation panel
Templates tab
Create templates to save yourself repetitive data entry for frequently-used information.
Select a template category to view the existing files in the workspace.
Tip
Save yourself repetitive data entry by building templates.
The following template types are available:
Report & Marketing
Creates report or marketing templates for your products.
Loan Program
Creates loan program templates for the products you market.
Closing Cost Scenario
Creates various closing cost options that prospects can use to assist with their
loan decisions.
Prospect Master
Creates master prospect templates for faster prospect information entry.
Borrower Master
Creates a master borrower template for faster borrower information entry.
Data Import
Build templates that import data from text files.
Data Export
Sends Point data to other applications.
Related information
For more information about working with templates see
Chapter 16, Templates, and Creating custom reports, on
page 668.
Point User Guide
13
User interface
Toolbar icons
Point employs many of the standard Microsoft Windows operating system icons to
complete the most common functions, such as printing and saving. However, many icons
are also unique to the Point application.
The following icons are unique to Point:
Icon
Name
Function
Email
E-mails the file or form.
Ratios
Displays the top, bottom, LTV, and CLTV ratios for a
loan.
Conversation log
Displays the conversation log for a particular loan.
Show tasks
Displays the list of tasks associated with the open
loan.
Calculator
Launches the calculator provided with the Microsoft
Windows operating system.
Cardex
Opens the Cardex database.
New task
Creates a new task.
Document storage
Opens the Document Storage dialog box.
Flag
Displays vendor interface notification messages.
Help
Launches Point Help.
Key combinations
Point uses conventional Windows operating system key combinations to accomplish
various tasks.
The types of keys include:
•
•
•
•
•
14
Activating keys
Function keys
Hot keys
Movement keys
Scrolling keys
Calyx Software
Key combinations
Activating keys
Use activating keys to close, cancel, or activate a task. The following activating keys are
available in Point:
Key
Description
<Enter>
Activates the highlighted command.
<Esc>
Closes a dialog box or cancels a command.
Spacebar
Activates the highlighted button.
Function keys
Function keys are the F keys that are located at the top of the keyboard. Use them to
access the following functions in Point:
Key
Description
<F1>
Help
<F2>
Loans tab
<F3>
Tasks tab
<F4>
Reports tab
<F5>
Templates tab
Hot keys
Hot keys provide shortcuts for completing frequently-used functions in Point. To use hot
keys, hold down the <Ctrl> key and press the specified letter to activate the item. The
following hot keys are used in Point:
Point User Guide
Key
Description
<Ctrl> + <G>
Current view (toggle among tabs)
<Ctrl> + <P>
File > Print
<Ctrl> + <L>
Conversation log
<Ctrl> + <Z>
Edit > Undo
<Ctrl> + <U>
Launch Calculator
<Ctrl> + <X>
Edit > Cut
<Ctrl> + <R>
Utilities > Cardex
<Ctrl> + <C>
Edit > Copy
<Ctrl> + <N>
File > New
<Ctrl> + <V>
Edit > Paste
<Ctrl> + <O>
File > Open
<Ctrl> + <D>
Edit > Paste Date
<Ctrl> + <S>
File > Save
<Ctrl> + <W>
Show tasks
<Ctrl> + <T>
Display ratios
15
User interface
Movement keys
Use movement keys to navigate quickly through Point when entering data. Use the
following keys to navigate in Point:
Key
Description
<Tab>
Moves forward one field.
<Shift> + <Tab>
Moves backward one field.
<Alt> + <>
Moves forward one section.
<Alt> + <>
Moves backward one section.
Scrolling keys
Use scrolling keys to navigate up, down, and across the screen when it exceeds the
window boundaries, without using the mouse. Use the following keys to scroll in the Point
screens:
Key
Description
<Ctrl> + <Page Down>
Scrolls down one page.
<Ctrl> + <Page Up>
Scrolls up one page.
<Ctrl> + <Home>
Scrolls to top of form.
<Ctrl> + <End>
Scrolls to bottom of form.
<Ctrl> + <>
Scrolls to the right.
<Ctrl> + <>
Scrolls to the left.
<Ctrl> + <>
Scrolls down one line.
<Ctrl> + <>
Scrolls up one line.
Buttons and options
Point contains buttons on the command bar at the bottom of the workspace and
throughout the screens which are used to access other Point screens, functions, and
dialog boxes.
Some buttons are used in multiple Point screens. For your convenience, they are listed
here alphabetically by location.
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Calyx Software
Buttons and options
Banker
The following buttons are used in various combinations on the Banker screens:
Button
Description
Screen
Opens the Edit Trailing Document, Edit Fee,
Edit Impound, Edit Payment, Edit Seller, Edit
Alias, Edit Condition, Edit Builder/
Contractor, Edit Renewal and Extension of
Lien, Edit Trustee, Edit Grantor, or Edit
Beneficiary dialog boxes.
Basic Loan Information
Borrower
Conditions
Construction
Fees & Impounds
Shipping
State-Specific Information
Trailing Documents
Trust
Opens the Conditions Pick-List, Fees PickList, or the Impounds Pick-List dialog box
Conditions
Fees & Impounds
which are used to select individual loan conditions
and fees from a template.
Populates the conditions list with the default set of Conditions
conditions that was set up in the company defaults Fees & Impounds
utility.
Populates the fees list with the default set of fees
that was set up in the company defaults utility.
Automatically populates the default list of trailing
documents.
Trailing Documents
Opens the Appraisal Information dialog box
which is used to record detailed property appraisal
information.
Basic Loan Information
Conditions
Fees & Impounds
Shipping
Trailing Documents
Underwriting
Calculates the aggregate escrow adjustment.
Fees & Impounds
Opens the Closing screen which is used to
document loan closing information.
HUD-1
HUD-1A
Opens the GFE and Closing Fees Comparison
dialog box which is used to show the comparison
between what the GFE discloses and the actual
loan closing costs.
Fees & Impounds
Opens the Conditions screen which is used to
track loan conditions and contingencies.
Underwriting
Imports the subject property address or present
address into the Mailing Address fields.
Shipping
Copies fees and impounds from the Fees
Worksheet.
Fees & Impounds
HUD-1 (Page 2)
HUD-1A (Page 1)
Copies fees and impounds from the Fees &
Impounds screen.
HUD-1 (Page 2)
HUD-1A (Page 1)
Generates the Funding Conditions Notice and adds Conditions
it to the document repository.
Generates the Funding Figures Worksheet and
adds it to the document repository.
Point User Guide
Fees & Impounds
17
User interface
Button
Description
Screen
Generates the Loan Approval Notice and adds it to
the document repository.
Conditions
Generates the Lock Confirmation document and
adds it to the document repository.
Secondary Marketing
Generates the Suspense/Denial Notice and adds it
to the document repository.
Underwriting
Deletes the selected item.
Basic Loan Information
Borrower
Conditions
Construction
Fees & Impounds
Shipping
State-Specific Information
Trailing Documents
Trust
Opens the Edit Trailing Document, Edit Fee,
Edit Impound, Edit Payment, Edit Seller, Edit
Alias, Edit Condition, Edit Builder/
Contractor, Edit Renewal and Extension of
Lien, Edit Trustee, Edit Grantor, or Edit
Beneficiary dialog boxes.
Basic Loan Information
Borrower
Conditions
Construction
Fees & Impounds
Shipping
State-Specific Information
Trailing Documents
Trust
Opens the Escrow & Title Information dialog
box which is used to record escrow, closing agent,
and title information.
Basic Loan Information
Conditions
Fees & Impounds
Shipping
Trailing Documents
Underwriting
Opens the Settlement Statement (HUD-1)
screen.
Basic Loan Information
HUD-1A
Opens the Settlement Statement (HUD-1A)
screen.
HUD-1
Opens the Edit Trailing Document, Edit Fee,
Edit Impound, Edit Condition, Edit Payment,
Edit Seller, Edit Alias, Edit Builder/
Contractor, Edit Renewal and Extension of
Lien, Edit Trustee, Edit Grantor, or Edit
Beneficiary dialog boxes where you can create a
new entry above the selected entry.
Basic Loan Information
Borrower
Conditions
Construction
Fees & Impounds
Shipping
State Specific Information
Trailing Documents
Trust
Opens the Insurance dialog box which provides Basic Loan Information
the user with easy access to mortgage, hazard, and Conditions
flood insurance information.
Fees & Impounds
Shipping
Trailing Documents
Underwriting
Opens the Program & Rate Lock Details dialog
box which provides the user with easy access to
rate, ARM, buydown, and prepayment
information.
18
Conditions
Fees & Impounds
Secondary Marketing
Underwriting
Calyx Software
Buttons and options
Button
Description
Screen
Use these buttons to rearrange the sequence of
items in a list.
Basic Loan Information
Borrower
Conditions
Construction
Fees & Impounds
Shipping
State Specific Information
Trailing Documents
Trust
Opens the Payoffs dialog box where information
about liens to be paid at closing is entered.
Basic Loan Information
Opens the Closing Documents Request dialog
box where you can request initial disclosures or
closing documents from documents providers.
Basic Loan Information
Opens the Select Product dialog box which is
used to select the product and investor to use for
the loan.
Basic Loan Information
Opens the Suspense Items dialog box which
Shipping
contains items that are flagged by the investor that
the loan is suspended until the items are received.
View the loan analysis before submitting the
document request.
Basic Loan Information
Opens the View/Print dialog box which is used to Basic Loan Information
view and print the received closing documents.
Borrower and prospect information
The following buttons are located on the Borrower Information and Prospect
Information screens.
Button
Description
Opens the Monthly Income Calculator which is used to
convert a borrower or co-borrower’s salary to a monthly rate.
This button is also located on page 2 of the Loan
Application.
Opens the CC Scenario List dialog box which is used to
select the closing cost scenario for the loan.
This button is also located on the Debt Consolidation
Worksheet and Prequalification screens.
Opens the Contact Information dialog box which is used to
document communications with borrowers and prospects.
This button is also located on the Debt Consolidation
Worksheet.
Copies borrower information into the identical fields for the
co-borrower.
Copies the loan property address to the fields from the
borrower’s present address.
If this is an FHA purchase loan, clicking this button populates
the field with the maximum loan amount that is allowed.
Point User Guide
19
User interface
Button
Description
Opens the First Mortgage Payment dialog box which is
used to enter first mortgage information in second mortgage
files.
This button is enabled only in second mortgage files.
This button is also located on page 2 of the Loan
Application.
Opens the Hazard Insurance dialog box where you can
specify monthly the premium rate for hazard insurance and
request a hazard insurance quote.
This button is also located on page 2 of the Loan
Application.
Opens the Loan Program List dialog box which is used to
select the loan program to use for the loan.
This button is also located on the CA MLDS Non-Traditional
— 885 screen.
Opens the PMI/MIP/FF/USDA dialog box which is used to
calculate up-front funding fees and mortgage insurance
premiums.
This button is also located on the FHA Transmittal
Summary, Prequalification, and Rent vs. Own screens.
Opens the Other In Housing Expense dialog box which is
used to enter other housing expenses such as school taxes,
flood insurance, and user-defined expenses.
This button is also located on page 2 of the Loan
Application.
Opens the Second Mortgage Payment dialog box which is
used to enter information about the borrower’s second
mortgages.
This button is also located on page 2 of the Loan
Application.
Opens the Personal Information dialog box which is used
to track personal information about the borrower, such as their
interests and their children’s names.
Opens the Qualified Mortgage Reporting interface. This
function sends data from the current loan to LoanScoreCard to
evaluate the loan according to QM standards and returns a
report.
This button is also located on the Fees Worksheet, Good
Faith Estimate, all Loan Application pages, Transmittal
Summary, and Truth-In-Lending.
Opens the Subordinate Financing Information dialog box
which is used to enter information about second loans and link
the first and second files together.
This button is also located on the Fees Worksheet and
Prequalification screens.
You can also access this dialog box from the 2nd Mtg button
on the Debt Consolidation Worksheet.
Opens the Taxes dialog box where you can specify the tax
rate and calculate the monthly tax payment.
This button is also located on page 2 of the Loan
Application.
20
Calyx Software
Buttons and options
FHA/VA loan
The following buttons are located on the FHA/VA screens. Buttons that were previously
described are not included in this list.
Button
Description
Opens the Monthly Income Calculator to edit the
monthly income.
Calculates the EEM (Energy Efficient Mortgage)
Qualifying ratios and enters them into the Underwriter
Comments field in the Transmittal Summary.
Copies the loan amount from the Information screen.
Opens the FHA GFE dialog box.
Calculates the maximum FHA loan amount.
Opens the FHA Statutory Requirements screen.
Opens the FHA Transmittal Summary.
Retrieves data from the Fees Worksheet.
Copies data from the Loan Application.
Copies the line C3 calculation from the 203(k)
Maximum Mortgage Worksheet.
Loan Application
The loan application buttons are located on the five pages of the Loan Application.
Buttons that were previously described are not included in this list.
Button
Description
Page
Opens the Monthly Income Calculator which is used
to convert a borrower or co-borrower’s salary to a
monthly rate.
2
This button is also located on the Borrower/Prospect
Information screens.
Opens a calendar which is used to calculate the length
of a construction loan.
1
Opens the FHA: Additional Items Closing Costs
dialog box which is used to calculate and enter closing
cost items from the FHA screens.
4
This button is also located on the Cash-to-Close
screen.
Point User Guide
Erases everything on page 5 of the Loan Application.
5
Opens the Declarations Explanations dialog box.
4
Deletes the selected entry from the employment, assets,
or liabilities list.
2, 3
21
User interface
Button
Description
Page
Moves the selected entry down in the employer, assets,
liabilities, or real estate lists.
2, 3
Opens the edit dialog box for the selected employment,
assets, or liabilities entry.
2, 3
Imports the assets from the Verification of Deposit.
3
Imports the employment information from the
Verification of Employment.
2
Imports the liabilities that are listed on the Verification
of Mortgage/Rent and Verification of Loan.
3
Navigate to specific sections of the Loan Application.
All
Opens an edit dialog box for employment, liabilities, or
assets, to add a new entry above the selected entry.
2, 3
Opens the Match Liabilities & REO dialog box which
is used to match borrower liabilities and real estate.
3
Opens the PMI/MIP/FF/USDA dialog box which is
used to calculate up-front funding fees and mortgage
insurance premiums.
2
Opens the Monthly Payment Settings dialog box
which is used to set the payment structure and the loan
terms and specifications.
1
This button is also located on the Good Faith
Estimate, Loan Comparison, CA MLDS NonTraditional — 885, Prequalification, and Rent vs.
Own screens.
The information entered in this dialog box also
populates the corresponding fields in the Truth-InLending screen.
Opens the edit dialog box to enter a new employer,
asset, or liability.
2, 3
Transfers employment data from VOE/VOI reports into
the Loan Application.
2
Transfers liabilities from a credit report into the Loan
Application.
3
Opens the corresponding page of the Loan
Application.
All
Opens the Credit Report Request dialog box which is 3
used to request credit information for a borrower.
Opens the VOE/VOI Request dialog box which is used 2
to request a borrower’s verification of employment or
income.
Moves the selected entry up in the employer, assets,
liabilities, or real estate lists.
22
2, 3
Calyx Software
Buttons and options
Button
Description
Page
Opens the Credit Report dialog box.
3
Opens the View Report dialog box, which is used to
select a VOE/VOI report to view.
2
Marketing
Marketing buttons are located in various locations and on the marketing forms in prospect
and borrower files.
Marketing forms include forms such as the Prequalification screen and the
Amortization Schedule. Buttons that were previously described are not included in this
list.
Button
Description
Screen
Opens the Subordinate Financing Information
Debt Consolidation
dialog box which is used to enter information about
Worksheet
second loans and link the first and second files together.
You can also access this dialog box from the Sub
Financing button on the Information, Fees
Worksheet, and Prequalification screens.
Calculates the prepaid finance charges on the Fees
Worksheet to determine the annual percentage rate.
Loan Comparison
Prequalification
Loan Comparison
Opens the ARM dialog box where you can make rate
adjustments to the proposed loan and the loans that are
used for the comparison.
Calculates the maximum property value for which the
prospect qualifies.
Prequalification
Opens the Balance Calculation dialog box which is
used to calculate the actual balance of the loan.
Debt Consolidation
Worksheet
Computes the amortization payment schedule.
Amortization Schedule
Rent vs. Own
Calculates the monthly and total benefit of owning a
home rather than renting.
Computes the new loan amount after the debt
consolidation.
Debt Consolidation
Worksheet
Opens the CC Scenario List dialog box which is used
to select the closing cost scenario for the loan.
Loan Comparison
Opens the Months to Compare dialog box which is
used to enter the number of months to compare
different loan alternatives.
Loan Comparison
Copies the maximum property value into the Purch Price Prequalification
field.
Debt Consolidation
Opens the Credit Scores dialog box which is used to
enter the credit scores for the borrower and co-borrower Worksheet
from all three credit reporting agencies.
Point User Guide
Displays the new ratio of income to debt after a
consolidation.
Debt Consolidation
Worksheet
Deletes a record from the Debt Consolidation
Worksheet.
Debt Consolidation
Worksheet
23
User interface
Button
Description
Screen
Opens the Liability dialog box which is used to add and Debt Consolidation
edit liabilities.
Worksheet
Opens the Anti-Steering Disclosure which is used to
show potential borrowers multiple loan options.
Loan Comparison
Opens the Fees Worksheet.
Rent vs. Own
Opens the Housing Exp & Other Obligations dialog
box which is used to enter proposed housing expenses
and other monthly obligations.
Debt Consolidation
Worksheet
Prequalification
The information entered in this dialog box also
populates the corresponding fields in the Monthly
Housing Expenses section on page 2 of the Loan
Application.
You can also access this dialog box from the Housing
Expenses & Obligations button on the Rent vs. Own
screen.
Opens the Income Information dialog box which is
used to enter borrower and co-borrower income
information.
Debt Consolidation
Worksheet
Prequalification
The information entered in this dialog box also
populates the corresponding fields in the Gross Monthly
Income section on page 2 of the Loan Application.
Adds a new liability before the selected one in the Debt
Consolidation Worksheet.
Debt Consolidation
Worksheet
Opens the Investment Information dialog box which Debt Consolidation
is used to enter the gross rent and occupancy rate that Worksheet
will be used to offset debt-to-income ratios for an
investment.
Opens the Loan Program List dialog box which is
used to select the loan program for the loan.
Amortization Schedule
Debt Consolidation
Worksheet
Loan Comparison
Prequalification
Truth-In-Lending
Calculates and displays the Detailed Payment
Schedule for the life of the loan.
Amortization Schedule
CA MLDS
Truth-In-Lending
Opens the Liability dialog box which is used to add and Debt Consolidation
edit liabilities.
Worksheet
Opens a dialog box to enter notes or comments about
the loan scenarios or borrower qualifications.
Loan Comparison
Prequalification
Opens the Open House Picture File dialog box to add Loan Comparison
a images to the flyer.
24
Indicates that the selected liability was paid or will be
paid in full.
Debt Consolidation
Worksheet
Opens the Prepared For dialog box which is used to
enter information about the person for whom the file
was created.
Amortization Schedule
Cash-to-Close
Loan Comparison
Prequalification
Rent vs. Own
Calyx Software
Buttons and options
Button
Description
Screen
Opens the Present Housing Expenses dialog box
which is used to enter housing expenses for the
borrower’s owner-occupied residence, regardless of the
type of loan.
Prequalification
Selects all the liabilities in the list.
Debt Consolidation
Worksheet
Opens the Status dialog box which is used to
document when changes are made to the worksheet.
Debt Consolidation
Worksheet
Truth-in-Lending
The following buttons are located on the Truth-in-Lending screens. Buttons that were
previously described are not included in this list.
Button
Description
Opens the Initial ARM Disclosure Disclaimer.
Calculates the finance charges and payment schedule based on
data that was entered in the Prepaid Fin Charge field in the
Payment Schedule section.
Opens the Tax Information (1098) screen, which displays
origination and discount fees and the first year of interest paid.
Opens the Payment Summary Table.
Opens the Truth-In-Lending (Section 32) screen. The
information on this screen informs borrowers of the loan
amount, the annual percentage rate, and their monthly
payments. This disclosure is required for high cost loans.
Returns to the Truth-in-Lending screen from the ARM
Disclosure.
Related information
Additional buttons are described in Loan Application, on
page 21, and Marketing, on page 23.
Verification
The following buttons are located on the Deposit, Employment, Loan, and Mortgage/Rent
verification screens.
Button
Description
Imports the assets from the Loan Application to the
Verification of Deposit.
Imports the employment information from the Loan
Application to the Verification of Employment.
Point User Guide
25
User interface
Button
Description
Imports the liabilities from the Loan Application to the
Verification of Loan.
Imports mortgage information from the Loan Application
REO section to the Verification of Mortgage/Rent.
Imports the rental information from the Loan Application to
the Verification of Mortgage/Rent.
Opening multiple files
To open multiple loan files at one time, select the Keep Open check box in the workspace
before you open another file. The new file opens to the Information screen without
closing the open file. You can switch among the open files by selecting the file name from
the list of open files in the Window menu.
26
Calyx Software
Utilities configuration
3
The Utilities menu contains options that are used to customize Point to meet your specific
business needs. Use the Utilities menu to configure dropdown lists, company defaults,
screen settings and colors, and interfaces. You can set up features all at once, or a few at
a time and modify them as your business needs change.
In this topic
•
•
•
•
•
•
•
•
•
•
•
•
•
Company default information
Dropdown lists
Creating escrow and title tables
Setting up a proxy server
Mobile access
Specifying search fields and result format
Creating custom screens
Customizing the shortcut toolbar
Customizing screen colors
Specifying the default web browser
Naming files automatically
Saving files automatically
Generating the Mortgage Identification Number
automatically
• Enabling autofill options
• Identifying fields and field IDs
Company default information
The Company Defaults options are used to specify company-specific information such as
address, phone number, local contact information for state and federal real estate
regulatory agencies, and escrow and title account information.
Most of the company defaults that you set up are unique to the data folder where you
create them. However, it is possible to transfer the information to other data folders from
the primary data folder.
Restriction
The Company Defaults menu is available only to users who have access
to secured areas. Secured area access is specified for Point users in Point
Administrator. PointCentral users are granted access to company defaults
as part of the data folder security settings.
Related information
Refer to Copying folder settings, on page 768, for more information
about transferring data folder settings.
27
Utilities configuration
Entering default company and processing center information
The Company Information and Processing Center dialog boxes are used to specify
default company-specific information. Use the Company Information dialog box to
define information such as name, contact information, and NMLS number and to control
the inclusion of state license numbers on the printed forms. Use the Processing Center
dialog box to specify the response address that is to be included on printed verification
forms in the associated folder.
Completing the Company Information dialog box ensures that you remain in
compliance when regulations mandate that your identifying information be printed on all
loan forms. You can specify that this information be automatically populated on screens
and specify what information is included on printed forms.
If the return address for verifications and the company address are the same, you do not
need to enter the processing center information. However, if you have multiple offices and
your processing center has a different address, you must enter the processing center
information in the Processing Center dialog box to ensure proper delivery of verification
responses.
Important
The interface for entering company and processing center information is
the same. However, license information is not recognized in the
Processing Center dialog box. Therefore, license and print information
that is specified in the Processing Center dialog box is not retained
when the dialog box is closed.
Company Info is used in the following example to illustrate the process of completing the
Company Information and Processing Center dialog boxes.
To complete the Company Information dialog box:
1
28
Select Utilities > Company Defaults > Company Info....
Calyx Software
Company default information
The Company Information dialog box is displayed.
2
Select the check box to indicate whether you are a broker or a lender.
Attention
The information that you enter in the Company Information dialog
box applies to all loan files in the current data folder.
If you are both a broker and a lender, create separate data folders for
loans where you act as the broker and loans where you act as the lender,
then select the respective option for each folder.
3
Enter the company name, address, city, state, zip code, and telephone and fax
numbers.
4
Enter your company number that is registered with the National Mortgage License
System and Registry (NMLS) in the NMLS # field.
5
Enter your federal tax identification number in the Fed. Tax ID field.
6
To manually enter the company information into screens rather than it populating
automatically, select the Manually enter company information on forms check box.
Attention
When this option is not selected, broker and lender company information
is automatically populated on the Tracking > Agent screen.
The contact information fields are disabled and cannot be changed until the check box
is unchecked.
Point User Guide
29
Utilities configuration
7
Select from the following options to specify the information or combination of
information that is to be included on the printed forms:
•
•
•
•
Print Company Name/License # on all forms
Print Company NMLS Name/Registration # on all forms
Print Originator Name/License # on all forms
Print Originator NMLS Name/Registration # on all forms
Requirement
If you select Print Originator Name/License # on all forms, you must
select a loan originator from the dropdown list on the Borrower or
Prospect Information screen for the loan originator information to
print.
Note
Use the originator dropdown list utility (Utilities > Dropdown Lists >
Originator) to define individual loan originator NMLS and state license
numbers.
8
Select the check boxes that correspond to the states or U.S. territories where the
company is licensed to do business and enter the license number in the License #
fields.
Selected states with a license number are listed first, in alphabetical order.
Attention
Broker and lender license number fields are automatically populated
throughout the loan file, where applicable, when the respective I
conduct business as a option is selected.
When a company is licensed in more than one state, the license number of the subject
property state is selected and will print based on the print options selected. If a subject
property is not specified, the company and loan originator license numbers will not
print.
9
Click OK.
Related information
Refer to Creating the originator dropdown list, on page 73 for
information about creating originator dropdown lists.
Specifying the number of days in a calendar year
Use the Days Per Year option to specify the number of days per calendar year based on
your lender’s requirements.
30
Calyx Software
Company default information
To specify the days per year:
1
Select Utilities > Company Defaults > Days Per Year.
The Days Per Year dialog box is displayed.
2
Select 360, 365, or Other.
If you select Other, enter the number of days in the corresponding field.
3
Click OK.
Specifying the ECOA Address
Use the ECOA Address option to enter the address of the federal agency that
administers compliance for the Equal Credit Opportunity Act. Point automatically
populates the address on the ECOA submission form.
To configure the ECOA address:
1
Select Utilities > Company Defaults > ECOA Address.
2
Enter (or verify) the address, and click OK.
Specifying the CA Fair Lending address
Use the CA Fair Lending Address option to enter the address to send the CA Fair
Lending notice.
To configure the CA Fair Lending address:
1
Select Utilities > Company Defaults > CA Fair Lending Address.
2
Enter (or verify) the address and click OK.
Specifying the credit denial administrator address
Use the Denial Letter Address option to specify the address of the federal agency that
administers compliance with Regulation B of the Equal Opportunity Act. Point
automatically populates the address on the Statement of Credit Denial, Termination, or
Change form when it is printed.
To enter the credit denial compliance agency address:
1
Select Utilities > Company Defaults > Denial Letter Address.
2
Enter (or verify) the address and click OK.
Specifying default settings for the Servicing Disclosure statement
Use the Servicing Disclosure Info option to enter default settings for the Servicing
Disclosure Statement.
Point User Guide
31
Utilities configuration
To complete the servicing disclosure information:
1
Select Utilities > Company Defaults > Servicing Disclosure Info.
The Servicing Disclosure Statement Information dialog box is displayed.
2
Select the applicable options.
3
Click OK.
Printing the Acknowledgment and Agreement clause
The acknowledgment and agreement clause, located in Section IX. Acknowledgment and
Agreement of the Loan Application, is not included in the Point interface. However, you
can specify that the statement print with the Loan Application. You can also specify
whether you have a time limit to request the appraisal.
To print the statement when the Loan Application is printed:
32
1
Open a borrower file.
2
Select Utilities > Company Defaults > Right to Receive Appraisal.
3
Select the Print “Right to Receive Appraisal” statement in section IX on the loan
application check box to include this statement when the Loan Application is
printed.
4
Select either the No time limitation to receive appraisal or the We must receive
your written request no later than check box to specify whether there is a time limit
to receive the appraisal request.
5
If there is a time limit, specify the number of days when the request must be received.
Calyx Software
Company default information
6
Click OK.
Related information
For more information about the Acknowledgment and Agreement
section, refer to the Uniform Residential Loan Application on the Fannie
Mae web site.
Overriding dates on disclosures
To override the existing date on disclosures with the current date:
1
Select Utilities > Company Defaults > GFE/TIL Disclosure.
The Disclosure Settings dialog box is displayed.
2
Select the Always print the current date on all disclosures check box to include the
current date for date prepared on every printed disclosure.
3
Click OK.
Specifying disclosure settings for changed circumstances
The changed circumstance disclosure settings are used to identify the reasons that
previously disclosed fees in the Good Faith Estimate were changed. A default list is
provided in Point. You can add new settings or change the existing settings.
To create a new setting:
1
Point User Guide
Select Utilities > Company Defaults > GFE/TIL Disclosure.
33
Utilities configuration
The Disclosure Settings dialog box is displayed.
2
Click Add.
The Add Selection dialog box is displayed.
3
Enter the setting name in the empty field and click OK.
4
Add additional settings as needed.
5
Click OK in the Disclosure Settings dialog box when you are finished entering
disclosure settings.
To change a setting, select a setting and click Edit.
To delete a setting, select a setting and click Delete.
Click Reset to Defaults to revert to the default list.
Caution
Use caution when you click the Reset to Defaults button. When the
button is clicked, the settings list reverts back to the original list provided
with Point and all settings that were added manually are deleted.
34
Calyx Software
Company default information
Editing the Service Provider List Disclaimer
The Service Provider List Disclaimer is displayed on the printed Service Providers
List. Use the default disclaimer that is provided or create your own disclaimer.
Unselect the check box to enable the field to customize the disclaimer for your
organization.
Related information
For more information about the Service Providers List, refer to
Completing the Service Providers List, on page 205.
Configuring the Privacy Policy Disclosure form settings
The Privacy Policy Disclosure form meets the federal law requirement of disclosing to
borrowers what kind of personal information is collected and shared with other entities
such as other financial institutions, affiliates, and joint marketing partners. It also provides
the borrower with the information they need to limit the amount of their information that
you can share.
The Privacy Policy Disclosure utility in Point is used to specify the following:
•
•
•
•
•
the type of information your company collects
how information is used for marketing purposes
borrower opt-out options
circumstances when borrower personal information is collected
with whom information is shared
The Privacy Policy Disclosure screen is configurable for your specific requirements.
Each tab on the dialog box corresponds to a section of the printed form. The information
that prints on the form depends on the options or combination of options that you select.
To specify what information is shown on the Privacy Policy Disclosure printed form:
1
Select Utilities > Company Defaults > Privacy Policy Disclosure.
Tip
It might be helpful to reference the model form from the regulation
when completing this dialog box.
Point User Guide
35
Utilities configuration
The Privacy Disclosure Notice dialog box is displayed.
The screen is divided into multiple tabs which are used to define the options that are
printed on the disclosure form. At the bottom of the screen is a field to enter a revision
date to track when the last revision was made to the form.
2
Enter the revision date in the Rev Date field.
3
Complete the What Box tab.
a
Select an item from the Available options column to include in the types of
personal information that you collect and share, depending on the product or
service the borrower has with you, and click the Add button.
The item is moved to the Selected options column. Social Security number is not
displayed but is a fixed entry on the printed form.
b
Repeat for up to a total of five items.
Use the Move Up and Move Down buttons to move the items up and down in the
list to alter the sequence in which they will display on the form.
c
36
Click OK.
Calyx Software
Company default information
4
Select the Reasons We Can Share tab.
Use this section to specify the reasons for which you can share the borrower’s
personal information and to define if the borrower can limit information sharing. This
information is disclosed to the borrower in the Reasons we can share your personal
information table on the printed form.
a
For each reason select Yes or No to specify whether you share or do not share
information for that purpose.
If you select Yes, the corresponding check box in the Opt-Out Choices section on
the Opt-Out Options tab is automatically selected when Yes is also selected under
Limit Sharing.
Point User Guide
b
Select Yes, No, or We Don’t Share to indicate whether the borrower can limit the
sharing for the reason specified.
c
Click OK.
37
Utilities configuration
5
Select the Opt-Out Options tab.
Use the Opt-Out Options tab to specify the options that are available for a borrower to
select from to prevent their information from being shared.
a
Select the opt-out methods.
i
Select the check boxes that correspond to the methods that the borrower can
use to opt out.
•
If you selected Phone, enter the telephone number for the borrower to call
to opt out. The telephone number is populated on the printed form.
•
If you selected Website, enter your web address. The web address is
populated on the printed form.
Note
If both the Phone and Website check boxes are not selected, the To Limit
our Sharing section is not included on the printed form.
•
If you selected Mail as an option, enter your company name and address
in the fields provided where the borrower can mail their opt-out request.
Note
If you do not select the Mail check box, the Mail in form section is not
included on the printed form.
ii
Enter the number of days that the borrower has to exercise their opt-out
option before you will begin sharing their information.
The default value is 30 days.
38
Calyx Software
Company default information
iii Define the label to be used on the mail in form for the unique customer
identifier in the Acct Reference field.
The default value is Loan #.
b
If the loan application is completed jointly, and you want to allow the borrowers to
have the option to have a single opt-out for both borrowers, select the Single OptOut - Joint Borrowers check box.
When you select this option, the Limit Sharing—Jointly options on the What We
Do Section tab are enabled and this option is included on the mail in form.
Note
To include the What happens when I limit sharing section on page two
of the printed form, at least one opt-out options and the Single Opt-Out
- Joint Borrowers option must be selected.
c
The Opt-Out Choices section are automatically selected based on your selections
on the Reasons We Can Share tab.
If the option to mail in the opt-out form is given, these choices are offered on the
mail-in section of the form.
d
Point User Guide
Click OK.
39
Utilities configuration
6
40
Complete the Questions/Who We Are tab.
a
Select the Phone check box and enter a telephone number to include in the
Questions section of the printout for the borrower to contact you with questions.
b
Select the Website check box and enter your web site to include in the Questions
section of the printout.
c
Enter your information in the Who is providing this notice field to populate the
Who is providing this notice information on the printed form. Enter up to four
lines of text.
d
To add more than four lines, select the Extend List check box and enter
additional text. This text is printed at the end of the disclosure. If the Extend List
check box is not selected, the text is printed in the Other Important Info section.
e
Click OK.
Calyx Software
Company default information
7
Complete the What We Do Section tab.
a
Complete the How We Protect Personal Info section.
Using a maximum of 30 words, enter a description of the security measures you
use to protect the borrower’s information from unauthorized access.
b
Complete the How We Collect Personal Info section.
i
Select an item from the Available options column to include in the how you
collect personal information options and click the Add button.
The item is moved to the Selected options column.
ii
Repeat for up to a total of five items.
Use the Move Up and Move Down buttons to move the items up and down
in the list to alter the sequence in which they will display on the form.
iii Select the optional check boxes to inform your borrowers whether you collect
their personal information from others such as credit bureaus, affiliates, and
other companies.
Point User Guide
41
Utilities configuration
c
Complete the Limit Sharing sections.
i
To add additional information about a borrower’s rights under state law, select
the See below for more on your rights under state law check box.
A statement is printed in the What we do section on the printed form that
refers the borrower to below (the Other Important Information section on the
printed form) for more information about the state law.
Enter the state law text in the Show General Information Box field in the Other
Important Info tab.
ii
To specify that the joint sharing options apply to everyone, select Your
choices will apply to everyone on your account.
To specify that they apply only unless you specify otherwise, select Your
choices will apply to everyone on your account - unless you tell us
otherwise.
Requirement
The Single Opt-Out-Joint Borrowers check box on the Opt-Out
Options tab must be selected to enable the Limit Sharing - Jointly
check boxes.
d
42
Click OK.
Calyx Software
Company default information
8
Complete the Definitions tab.
Use the Definitions tab to define your affiliates, nonaffiliates, and joint marketing
partners. This information is included in the Definitions section on the printed form.
a
Complete the Affiliate Information section.
i
Select the appropriate check box that describes your information sharing
relationship with affiliates.
If you selected Shares with our affiliates, the Common Corp Identity,
Financial Companies, Nonfinancial Companies, and Other Companies fields
are enabled.
ii
b
Point User Guide
Enter the names of the companies, or other identifying information, that you
are affiliated with in the appropriate fields.
Complete the Nonaffiliate Information section.
i
Select the applicable check box to indicate whether you share borrower
information with nonaffiliates.
ii
If you selected Nonaffiliates we share with can include, the empty field
becomes enabled. Enter the names of the companies you share with in the
empty field.
43
Utilities configuration
c
d
44
Complete the Joint Marketing section.
i
Select the applicable check box to indicate whether you do joint marketing.
ii
If you do joint marketing, select Our joint marketing partners include: and
enter your joint partners in the space provided.
Click OK.
Calyx Software
Company default information
9
Complete the Other Important Info tab.
a
To include the Other Important Information section on the printed form, select
the Show General Information Box check box. Enter any general information in
the box provided, for example, information about borrowers’ rights under state
law.
Important
Due to the dynamic nature of the form, it is possible that the text typed
into this field could overflow the box on page 2 of the printed form.
When an overflow occurs, select the Extend to Third Page option to
add a third page to the form and enter the overflow text in the enabled
field.
b
Point User Guide
To add a third page to the form, select the Extend To Third Page check box and
enter additional information in the field provided.
45
Utilities configuration
c
Click OK.
Creating the default conditions list
The information in the Condition Types dialog box is used to populate loan conditions on
the Banker > Conditions screen. You can establish a standard set of default conditions
that are added to the conditions list when you click the Add Defaults button or you can
select from the list of conditions when you click the Add Conditions From Pick-List button.
Restriction
This option is available only to users who have access to secured areas.
Secured area access is specified for Point users in Point Administrator.
PointCentral users are granted access to company defaults as part of the
template set security settings.
If you are not granted access to secured areas, the option is disabled on
the Utilities > Company Defaults menu.
To create the default conditions list:
1
Select Utilities > Company Defaults > Condition Types.
The Condition Types dialog box is displayed.
2
46
Click Add to add a new condition.
Calyx Software
Company default information
The Condition Setup dialog box is displayed.
3
Complete the Condition Setup dialog box.
a
Enter a unique identifier for the condition in the Condition # field.
b
Select the Condition Type from the dropdown list.
•
PTD (prior to docs)
•
PTF (prior to fund)
•
Trailing
•
Investor
•
Submission
•
Suspended
c
Enter a description of the condition in the space provided.
d
Select the document category from the Document Category dropdown list.
e
Select the MISMO document type from the Document Type dropdown list.
Note
Default category and type lists are provided. You can add and change the
lists from the Utilities > Company Defaults > Document Categories/
Types menu option.
Point User Guide
47
Utilities configuration
f
To include the condition in the default list when specifying conditions in the
Conditions screen, select the Default Condition For All New Loans check
box.
g
To exclude the condition from the pick-list when specifying conditions on the
Conditions screen, select the Mark as Inactive check box.
h
To include the condition in the list of conditions on the Track > Conditions
screen, select the Show in Track > Conditions Screen check box. You must also
select a document category and a document type.
i
Select the Show in Mtg Loan Commitment Screen check box to include the
condition in the Mortgage Loan Commitment screen.
j
If the condition is to be included in the pick list, specify the filter settings.
For example, if the condition applies only to first mortgage FHA purchases, select
First Lien, Purchase from the Loan Purpose section, and FHA from the Loan
Type section.
k
4
48
Click OK to exit the Condition Setup dialog box.
Repeat the process for each condition.
Calyx Software
Company default information
Tips
•
To sort the conditions by one of the columns, click the column
heading to sort the records in ascending order. Click the column
heading again to sort in descending order.
The default sort order is by the Default column in descending order,
the # column in ascending order, then by the Type column in
descending order.
•
To resize a column width, place the cursor on the vertical line to the
right of the column heading, click and hold, and drag to the left or
right to increase or decrease the column width.
Use the Edit and Delete buttons to edit and delete existing conditions.
5
Click OK to exit the Condition Types dialog box.
Related information
•
For more information about default categories and types, refer to
Creating document categories and types, on page 58.
•
Refer to Mortgage Loan Commitment, on page 264, for more
information about the Mortgage Loan Commitment.
•
For more information about entering conditions, refer to Recording
and tracking loan conditions, on page 304.
•
Refer to Data folder security, on page 773, for more information
about setting access to secured areas in Point Administrator.
•
Refer to the PointCentral User Guide for information about
specifying template set security settings.
Defining fee types
The information in the Fee Types dialog box is used to populate the final fees in the
Banker > Fees & Impounds screen. You can establish a standard set of default fees
that are added to the fee list when you click the Add Defaults button or you can select
from the list of fees when you click the Add Fees From Pick-List button.
Restriction
This option is available only to users who have access to secured areas.
Secured area access is specified for Point users in Point Administrator.
PointCentral users are granted access to company defaults as part of the
template set security settings.
If you are not granted access to secured areas, the option is disabled on
the Utilities > Company Defaults menu.
To create the default fee type definitions:
1
Point User Guide
Select Utilities > Company Defaults > Fee Types.
49
Utilities configuration
The Fee Types dialog box is displayed.
Pre-defined HUD fees with fixed line numbers are prepopulated in the Fee Types
dialog box.
Tips
•
To temporarily sort the fees by one of the columns, click the column
heading to sort the records in ascending order. Columns to the right
of the selected column sort in ascending order.
Click the column heading again to sort in descending order. Columns
to the right of the selected column sort in descending order.
The default sort order is in ascending order by the Default, HUD Line
#, Fee Description columns, respectively.
•
To temporarily resize a column width, place the cursor on the vertical
line to the right of the column heading, click and hold, and drag to
the left or right to increase or decrease the column width.
Changed columns will revert to their default sort order and width
when you exit the screen.
50
Calyx Software
Company default information
2
Click the Add button to open the Fees Setup dialog box.
3
Select the HUD line number from the dropdown list or enter it manually.
4
Enter the Fee Description.
5
Select the recipient of the fee from the Paid To dropdown list.
6
Select the entity that will pay the fee Paid By dropdown list.
7
Enter the amount of the fee in the Fee Amount field.
8
If the fee is included in the APR, select the APR Affecting Fee check box.
9
Enter the accounting GL Code and select the fee type from the dropdown list.
10 Select the Default Fee For All Loans check box to specify that this fee is included for
all loans that your organization processes.
Important
When this option is selected, the fee applies to all loans. Therefore, the
Fees Pick-List Filter Settings section is disabled.
11 To exclude the fee from the list of fees to select from in the Fees & Impounds
screen, select the Mark as Inactive check box.
12 If the fee is a Section 32 fee, select the Section 32 Fee check box.
13 If the fee is not included with the amount to be wired, select the Net From Wire check
box.
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14 Specify the lien position of the loan when the fee is to be included in the default list
from the First Lien, Second Lien, or Other check boxes.
15 Select or unselect the check boxes for the loan purposes that apply to this fee from
the Loan Purpose section. All options are selected by default. Unselect the Select All
check box to clear all options and enter them manually.
Attention
The lien position and loan purpose options are disabled when Default
Fee For All Loans is selected.
16 Select or unselect the check boxes for the types of loans that apply to this fee from the
Loan Type section. All options are selected by default. Unselect the Select All check
box to clear all options and enter them manually.
17 Click OK in the Fees Setup dialog box to save the fee.
To edit a fee, select the fee and click Edit to open the Fees Setup dialog box.
To delete a fee, select the fee and click Delete.
18 Click OK again to close the Fee Types dialog box.
Related information
•
Refer to Funding loans, on page 312, for information about using
the default fee type list and about the Fees & Impounds screen.
•
Refer to Data folder security, on page 773, for more information
about setting access to secured areas in Point Administrator.
•
Refer to the PointCentral User Guide for information about
specifying template set security settings.
Defining impound types
The information in the Impound Types dialog box is used to populate the final tax and
insurance impounds in the Banker > Fees & Impounds screen. You can select from the
list of impounds when you click the Add Impounds From Pick-List button.
Restriction
This option is available only to users who have access to secured areas.
Secured area access is specified for Point users in Point Administrator.
PointCentral users are granted access to company defaults as part of the
template set security settings.
If you are not granted access to secured areas, the option is disabled on
the Utilities > Company Defaults menu.
To create the default impound type definitions:
1
52
Select Utilities > Company Defaults > Impound Types.
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Company default information
The Impound Types dialog box is displayed.
2
Click the Add button to open the Impounds Setup dialog box.
3
Select the state where the subject property is located.
4
Check the This state has varying disbursement frequencies and/or special taxes
check box if it applies to the selected state.
The County & City/Town fields become enabled.
5
Select the county from the dropdown list and enter the city.
6
Enter the name of the tax collector in the Tax Collector Name field.
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Utilities configuration
7
Select the impound description from the dropdown list.
Requirement
You must make a selection from both the State and Impound Description
dropdown lists before you can save the impound.
However, a state is not required if Hazard Insurance, Flood Insurance, or
Earthquake Insurance is selected from the Impound Description
dropdown list.
8
Select the Disbursement Frequency from the dropdown list.
The Disbursement Date fields become enabled according to the frequency of the
disbursements.
9
Select the entity that is paying the disbursement from the Paid By dropdown list.
10 Select the HUD line number from the dropdown list or enter the line number manually.
11 Specify the disbursement dates:
Depending on the value you selected from the disbursement frequency dropdown list,
some or all of the disbursement Due and Late fields become enabled.
Requirement
A value must be selected from the Disbursement Frequency dropdown
list to enable these fields.
a
Select the month from the Disb. 1 dropdown list in the Due row that the first
payment is due.
b
Enter the day of the month that the payment is due in the field next to the month.
The field becomes enabled when the month is selected.
c
Select the month from the Disb. 1 dropdown list in the Late row to specify when the
payment is considered late.
d
Enter the day of the month that the payment is due in the field next to the month.
The field becomes enabled when the month is selected.
e
Continue the process for the subsequent disbursements for the disbursement
frequency selected.
12 To exclude the impound from the list of impounds to select from in the Fees &
Impounds screen, select the Mark as Inactive check box.
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Company default information
13 Click OK in the Impounds Setup dialog box to save the fee and return to the
Impound Types dialog box.
Tips
•
Use the scroll bar to view the columns that are not visible on the
screen.
•
To temporarily sort the impounds by one of the columns, click the
column heading to sort the records in ascending order. Columns to
the right of the selected column sort in ascending order.
Click the column heading again to sort in descending order. Columns
to the right of the selected column sort in descending order.
•
To temporarily resize a column width, place the cursor on the vertical
line to the right of the column heading, click and hold, and drag to
the left or right to increase or decrease the column width.
Changed columns will revert to their default sort order and width
when you exit the screen.
To edit an impound, select the impound and click Edit to open the Impound Setup
dialog box.
To delete an impound, select the impound and click Delete.
14 Click OK again to close the Impound Types dialog box.
Related information
•
Refer to Funding loans, on page 312, for information about using
the default fee type list and about the Fees & Impounds screen.
•
Refer to Data folder security, on page 773, for more information
about setting access to secured areas in Point Administrator.
•
Refer to the PointCentral User Guide for information about
specifying template set security settings.
Specifying the default escrow account payments
Use the Initial Escrow Account Setup dialog box to calculate the escrow payments. In
addition to two user-defined calculations, you can calculate the following payments:
•
•
•
•
•
Escrow for taxes
Hazard insurance
Mortgage insurance
Flood insurance
School taxes
Restriction
This option is available only to users who have access to secured areas.
Secured area access is specified for Point users in Point Administrator.
PointCentral users are granted access to company defaults as part of the
template set security settings.
If you are not granted access to secured areas, the option is disabled on
the Utilities > Company Defaults menu.
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Utilities configuration
To configure the escrow account option:
1
Open a borrower or prospect file.
2
Select Utilities > Company Defaults > Escrow Account.
The Initial Escrow Account Setup dialog box is displayed.
3
For each type of tax or payment, select the cell that corresponds to the month when
the payment is due and enter the number of months to be paid at that time.
For example, if property taxes are paid in April and December for a six-month period,
enter 6 in the Apr and Dec fields for that column. For annual payments, enter 12 in the
field for the month when the payment is due.
4
To specify that the borrower must pay some fees in advance to provide a reserve in
the event a fee increases or a payment is missed, enter the number of months the
borrower must pay in the Cushion row.
5
To exclude a fee from the aggregate accounting, select the Exclude check box at the
foot of the disbursement column where the fee is entered.
6
Click OK.
Related information
For information about setting up the escrow account for a specific loan,
refer to Calculating ongoing escrow payments, on page 283.
Entering HMDA registration information
Use the HMDA Register Info option to open the HMDA Loan App Register
Information dialog box. This information is stored and is used when you register loan
applications with the HMDA.
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Company default information
Restriction
This option is available only to users who have access to secured areas.
Secured area access is specified for Point users in Point Administrator.
PointCentral users are granted access to company defaults as part of the
template set security settings.
If you are not granted access to secured areas, the option is disabled on
the Utilities > Company Defaults menu.
To enter the HMDA registration information:
1
Open a borrower file.
Attention
The HMDA Register Info option is not available in prospect files.
2
Select Utilities > Company Defaults > HMDA Register Info.
The HMDA Loan App Register Information dialog box is displayed.
3
Enter the lender’s information in the Respondent ID, Tax ID, Agency, and Code fields.
4
Enter the lender’s name, address, contact person, and contact information in the
Respondent Information section.
5
If the lender is a subsidiary, enter the parent company information in the Parent
Information section.
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Utilities configuration
6
Enter the year of the report in the Activity Year field and complete the Date and Time
fields.
7
Click OK.
Related information
Refer to Chapter 22, HMDA reporting, for more information about
registering loan applications.
Defining late documents
Use the Docs Due In option to set the default for the number of days after a due date that
a document is considered late.
Restriction
This option is available only to users who have access to secured areas.
Secured area access is specified for Point users in Point Administrator.
PointCentral users are granted access to company defaults as part of the
template set security settings.
If you are not granted access to secured areas, the option is disabled on
the Utilities > Company Defaults menu.
To specify when a document is considered late:
1
Select Utilities > Company Defaults > Docs Due In.
The Docs Due In dialog box is displayed.
2
Enter the number of days after a document is requested before it is considered late.
Attention
The value that is specified in this dialog box and date the document was
requested are used to determine whether a document is late when the
Late Documents Report is generated.
3
Click OK.
Creating document categories and types
Document categories are used in Document Management to identify the category of the
document. Document types are used to further identify the document within the category.
Default lists for both categories and types are provided in Point. You can add new
categories and types and edit existing categories and types.
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Company default information
To create a new category:
1
Select Utilities > Company Defaults > Document Categories/Types.
The Document Categories dialog box is displayed.
2
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Click Add.
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Utilities configuration
The Document Types dialog box is displayed.
The Document Types dialog box is used to enter the new category name and add
document types that fall under that category.
3
Enter the name of the category in the Category Name field.
4
Click Add.
The Document Type dialog box is displayed.
5
Enter the document type in the Type Name field and click OK.
6
Add additional types as needed.
7
Click OK in the Document Types dialog box when you are finished entering
document types for that category.
8
Add additional categories and types as needed.
9
Click OK in the Document Categories dialog box when you are finished entering
document categories and their types.
To change a category or type name, select a category or type and click Edit.
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Company default information
Click Reset to Defaults to revert to the default list.
Caution
Use caution when clicking the Reset to Defaults button. When the
button is clicked, the category list reverts back to the original list provided
with Point and all categories and types that were added manually are
deleted.
Related information
For more information about document management, categories, and
document types, refer to Electronic document storage, on page 589.
Specifying document sequence in the document repository
Stacking orders are used in Document Management to specify the sequence of forms in
the document repository. For example, users with different roles in the loan process
require different documents. To avoid having to scroll through a long list of documents to
locate what is needed, you can create a stacking order that places the documents in the
sequence that a particular user needs. The stacking order is selected in the Document
Management dialog box.
To create a stacking order:
1
Select Utilities > Company Defaults > Stacking Orders.
The Stacking Orders dialog box is displayed.
2
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Click New.
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Utilities configuration
The Stacking Order dialog box is displayed.
3
Enter a name in the Stacking Name field.
4
Enter any comments in the Notes field.
5
Select a document to add to the stacking order and click Add.
6
Repeat for additional documents.
Click Remove to remove the selected document from the stacking order list.
To change the sequence of documents in the stacking order, select a document and
click the move Up or Down buttons to move that document up or down in the list.
7
Click OK when finished adding documents to the stacking order.
8
Repeat the process to add additional stacking orders.
Related information
For more information about document management and stacking
orders, refer to Electronic document storage, on page 589.
Creating document package types
Package types are used in Document Management to identify the package in which a
document belongs. Packages are used to send loan documents to various resources
throughout the loan process. For example, an underwriter would be sent the Submission
Package which would contain all of the documents an underwriter requires.
A default list of packages is provided. You can add new package types and edit existing
package types.
To create a package type:
1
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Select Utilities > Company Defaults > Package Types.
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Company default information
The Package Types dialog box is displayed.
2
Click Add to open the Package Type dialog box.
3
Enter the name of the package in the Package Type field and click OK.
The package name is added to the list of package types.
4
Repeat to add additional packages.
5
Click OK when finished adding packages.
Click Edit in the Package Types dialog box to change the package name.
To change the sequence of the packages in the package list, select a document and
click the Move Up and Down buttons.
Click Reset to Defaults to revert to the default list.
Caution
Use caution when clicking the Reset to Defaults button. When the
button is clicked, the package list reverts back to the original list provided
with Point and all packages that were added manually are deleted.
Related information
For more information about document management and packages, refer
to Electronic document storage, on page 589.
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Utilities configuration
Setting automatic document storage
The Automatic Document Storage option is used to indicate whether documents that are
generated as a result of a request from one of the Point services, for example, closing
documents, are automatically added to the document repository upon receipt.
To change the automatic document storage setting:
1
Select Utilities > Company Defaults > Automatic Document Storage.
The Automatic Document Storage dialog box is displayed.
The default setting enables automatic document storage.
2
Unselect the check box to disable automatic document storage.
Related information
•
For more information about the document repository and document
storage, refer to Electronic document storage, on page 589.
•
For more information about Point lenders, services, and interfaces,
refer to Chapter 9, Integrated products and services.
Entering warehouse lender information
The Warehouse Lenders option is used to enter detailed information about warehouse
lenders. This information is used to populate the warehouse lender information in the
Banker > Warehouse & Purchase Advice screen, which is used to track warehouse line
aging and loan purchase by investors.
Restriction
This option is available only to users who have access to secured areas.
Secured area access is specified for Point users in Point Administrator.
PointCentral users are granted access to company defaults as part of the
template set security settings.
If you are not granted access to secured areas, the option is disabled on
the Utilities > Company Defaults menu.
To set up warehouse lender information:
1
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Select Utilities > Company Defaults > Warehouse Lenders.
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Company default information
The Warehouse Lenders dialog box is displayed.
2
Click Add to access the Warehouse Lender Setup dialog box to create a
warehouse lender profile.
To edit a lender, select the lender name and click Edit. Update the lender information
in the Warehouse Lender Setup dialog box.
To delete a lender, select the lender name and click Delete.
The Warehouse Lender Setup dialog box stores contact, rate, and wiring
information for the lender which automatically populates the corresponding fields in
the Banker > Warehouse & Purchase Advice screen when the corresponding
lender is selected from the Warehouse Lender dropdown list.
3
Enter the warehouse lender address and contact information.
4
Describe any restrictions the lender has in the Warehouse Lender Restrictions field.
5
Select the Mark as Inactive check box to retain the warehouse lender information but
exclude the it from the dropdown list on the Warehouse & Purchase Advice screen.
Remove the check mark to include the warehouse lender in the list.
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Utilities configuration
6
Complete the Advance Rate section.
a
Select the Use Fixed Rate or Use Variable Rate check box.
Use Fixed Rate is the default selection.
b
Select the Index Type from the dropdown list.
c
If a variable rate, enter the Days on Line and the Margin for each increment of
days on line.
Important
The Days on Line and Margin fields are disabled when Use Fixed Rate is
selected.
7
Complete the Wiring Instructions section.
a
Enter the unique 9-digit warehouse lender routing number that was assigned by
the American Banker’s Association in the ABA No field.
b
Enter the name of the financial services entity that receives the warehouse
advance from the warehouse lender in the Credit To Name field.
c
Enter the lender’s account number where the warehouse advance will be
deposited when the warehouse lender wires the funds in the Account No field.
d
Enter the name of the individual who should be notified when the funds from the
warehouse lender are deposited in the bank account in the To the Attention of
field.
e
Enter the name of the person who is authorized to sign on the lender account in
the Authorized Signer field.
8
Click OK to close the Warehouse Lender Setup dialog box and return to the
Warehouse Lender dialog box.
9
Select an option to add or edit a lender or click OK to exit the dialog box.
Related information
•
Refer to Submitting and tracking warehouse lender loans, on
page 358, for information about the Warehouse & Purchase
Advice screen.
•
Refer to Data folder security, on page 773, for more information
about setting access to secured areas in Point Administrator.
•
Refer to the PointCentral User Guide for information about
specifying template set security settings.
Entering default investor shipping information
The Investors option is used to enter detailed information about investors who purchase
your closed loans. This information is used to populate the investor information in the
Banker > Shipping screen, which is used to track the loan delivery to investors.
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Company default information
The information that is set up here is automatically populated in the Shipping screen
when an investor is selected on the Secondary Marketing, Underwriting, or
Shipping screens, saving you time and avoiding repetitive data entry.
Restriction
This option is available only to users who have access to secured areas.
Secured area access is specified for Point users in Point Administrator.
PointCentral users are granted access to company defaults as part of the
template set security settings.
If you are not granted access to secured areas, the option is disabled on
the Utilities > Company Defaults menu.
To set up investor information:
1
Select Utilities > Company Defaults > Investors.
The Investors dialog box is displayed.
2
Click Add to access the Investor Setup dialog box to create an investor profile.
To edit an investor, select the investor name and click Edit. Update the investor
information in the Investor Setup dialog box.
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Utilities configuration
To delete an investor, select the investor name and click Delete.
The Investor Setup dialog box stores delivery details for the investor which
automatically populate the corresponding fields in the Shipping screen. You can also
edit this information on the Shipping screen if needed.
68
3
Enter the delivery information for the investor in the Investor Delivery Information
section.
4
Select the Mark as Inactive check box to retain the investor information but exclude
the investor name from the dropdown lists on the Shipping, Secondary Marketing,
and Underwriting screens. Remove the check mark to include the investor in the
list.
5
Enter the information for the loan file in the File Delivery Information section.
6
Enter the information for the note in the Note Delivery Information section.
7
Enter the information for the servicer in the Servicing Information section.
8
Enter the information if there is a loss in the Investor Loss Payee Information section.
9
Click OK to close the Investor Setup dialog box and return to the Investors dialog
box.
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Company default information
10 Select an option to add or edit an investor or click OK to exit the dialog box.
Related information
•
Refer to Tracking loan shipment status, on page 364, for
information about the Shipping screen.
•
Refer to Data folder security, on page 773, for more information
about setting access to secured areas in Point Administrator.
•
Refer to the PointCentral User Guide for information about
specifying template set security settings.
Creating the default trailing documents list
The Trailing Documents option is used to populate trailing documents in the Banker >
Trailing Documents screen. You can establish a standard set of trailing documents for
certain loan types that are added to the trailing documents list when you click the AutoPopulate button in the Trailing Documents screen.
Restriction
This option is available only to users who have access to secured areas.
Secured area access is specified for Point users in Point Administrator.
PointCentral users are granted access to company defaults as part of the
template security settings.
If you are not granted access to secured areas, the option is disabled on
the Utilities > Company Defaults menu.
To create the default trailing documents list:
1
Select Utilities > Company Defaults > Trailing Documents.
The Trailing Documents dialog box is displayed.
A predefined set of trailing documents is provided.
2
Point User Guide
Click Add to add a new document.
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Utilities configuration
The Trailing Document Setup dialog box is displayed.
3
Enter the name of the document in the Trailing Document field.
4
Select or unselect the loan types that will include or exclude this document in the
default trailing documents list when the Auto-Populate button on the Trailing
Documents screen is clicked.
When the Select All check box is selected, the default, all of the options are selected.
When the Select All check box is unselected, all of the options are unselected and
you can make individual selections manually.
Notes
5
•
When a document is not included in the default list, you can add it
individually in the Banker > Trailing Documents screen.
•
When a document is included in the default list, but it does not
require tracking, you can remove it individually after you click AutoPopulate to insert the default documents list in the Banker >
Trailing Documents screen.
•
The auto-populate settings are predefined for each default trailing
document. Use the Edit button in the Banker > Trailing
Documents screen to change these settings.
Click OK to save the document.
The document is added to the list in alphabetical order.
Use the Edit and Delete buttons to edit and delete existing documents.
6
Click OK to exit the Trailing Documents dialog box.
Related information
70
•
Refer to Tracking investor requirements, on page 376 for more
information about populating the Trailing Documents screen.
•
Refer to Data folder security, on page 773, for more information
about setting access to secured areas in Point Administrator.
•
Refer to the PointCentral User Guide for information about
specifying template set security settings.
Calyx Software
Dropdown lists
Dropdown lists
The Dropdown Lists options are used to create default dropdown lists that you can select
from when completing the loan application. Create custom dropdown lists to save time
when you work with frequently-used information. You can enter your branch locations,
employee names, and vendors that you work with regularly. You can also create dropdown
lists that contain tax and insurance rate options.
Restriction
The Dropdown Lists menu is available only to users who have access to
secured areas. Secured area access is specified for Point users in Point
Administrator. PointCentral users are granted access to company defaults
as part of the data folder security settings.
If you are not granted access to secured areas, the Dropdown Lists
option is disabled on the Utilities menu.
For example, the Originator list would contain a list of the loan originators within your
organization; the Taxes list would contain a list of rate options to use to calculate the
property taxes.
You can create the following types of lists:
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Originator names
Processor names
Underwriter names
Document preparer names
Closer/Funder names
Loan shipper names
Adjustment type
How the property is going to be held
Employee titles
Branch office names
Regional office names
Division office names
Team names or departments
Special document types processed
Property, city, and state tax rates
Hazard insurance types
Mortgage insurance fees
User-defined fees
Cardex categories
Note
The Adjustment Type and Manner dropdown lists contain default values
that are shipped with Point. You can add, edit, and remove options from
these lists as needed.
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Utilities configuration
Creating dropdown lists
The interface for creating most dropdown lists is the same except for the originator,
branch, city and state taxes, and user-defined fees dropdown lists. The process is
described later in this topic.
The Processor option is used in the following example to illustrate the basic process:
1
Select Utilities > Dropdown Lists > Processor.
The Dropdown List: Processor dialog box is displayed.
2
Click Add to open the Add Selection dialog box.
3
Enter a processor name, and click OK.
To edit an option, select the option and click Edit. Modify the processor name in the
Edit Selection dialog box and click OK.
Note
Depending on the type of list, some Add Selection dialog boxes contain
fields for additional information, such as telephone number and e-mail
address.
To delete an option, select the option to delete and click Delete.
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72
After you are finished adding and editing options, click OK.
Calyx Software
Dropdown lists
Creating the originator dropdown list
The Originator dropdown list option defines loan originators in your organization and their
license information.
Attention
Identify the originator information to include on printed forms in the
Company Information dialog box (Utilities > Company Defaults >
Company Info).
To create the originator dropdown list:
1
Select Utilities > Dropdown Lists > Originator.
The Originator dialog box is displayed.
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Utilities configuration
2
Click Add to open the Originator Info dialog box.
3
Enter the full name of the originator in the Name field.
Important
Each originator name must be unique. Although it is possible to enter
duplicate names, doing so will create conflicts when Point attempts to
match licensing data.
4
Enter the originator’s NMLS number in the NMLS # field.
5
Select the check box next to the states where the originator is licensed and enter their
license number for that state in the corresponding License # field.
When a loan originator is licensed in more than one state, the license number of the
subject property state is selected and will print based on the print options selected in
the Company Information dialog box (Utilities > Company Info). If a subject
property state is not specified, the loan originator license number will not print.
6
74
Click OK.
Calyx Software
Dropdown lists
The loan originator, their NMLS number, and the states where they are licensed are
displayed in the Originator dialog box.
To edit originator information, select the originator name and click Edit. Modify the
originator information in the Originator Information dialog box and click OK.
Tip
To temporarily resize a column width, place the cursor on the vertical line
to the right of the column heading, click and hold, and drag to the left or
right to increase or decrease the column width.
To delete an originator, select the row that contains the originator and click Delete.
7
After you are finished adding and editing originators, click OK.
Requirement
You must click OK when you exit the Originator dialog box to retain
your changes even if you click OK in the Originator Information
dialog box after you add or edit a originator and when you click OK to
confirm a deletion.
Related information
For information about specifying company information, refer to
Entering default company and processing center information, on
page 28.
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Utilities configuration
Creating the branch dropdown list
The Branch dropdown list option defines your branch offices and the license information
that is included on the printed forms.
Note
The branch license number is automatically populated on the Tracking:
Branch/Team screen when the branch license information is defined.
To create the branch dropdown list:
1
Select Utilities > Dropdown Lists > Branch.
The Branch dialog box is displayed.
The Branch dialog box contains the following fields:
•
•
•
•
•
•
•
•
•
Branch #
Name
Lic #
NMLS #
Control NMLS #
Control Person
Control Lic #
Print Lic #
Print NMLS #
Tips
76
•
Use the scroll bar at the bottom of the dialog box to view the fields
that exceed the visible screen.
•
To temporarily resize a column width, place the cursor on the vertical
line to the right of the column heading, click and hold, and drag to
the left or right to increase or decrease the column width.
Calyx Software
Dropdown lists
2
Click Add to open the Branch Setup dialog box.
3
Enter the branch number, name, license number, and NMLS number in the
corresponding fields.
Important
Each branch name must be unique. Although it is possible to enter
duplicate branch names, doing so will create conflicts when Point
attempts to match licensing data.
4
In the Control Person section, enter the name of the branch control person, their
license number, and their NMLS number.
5
Select from the following options to specify the information or combination of
information that is to be included on the printed forms:
•
•
Print Branch Name/License # on all forms
Print Branch NMLS Name/Registration # on all forms
Requirement
If you select Print Branch Name/License # on all forms, you must
select a branch from the dropdown list on the Tracking: Branch/
Team screen for the branch information to print.
6
Click OK.
Requirement
You must click OK when you exit the Branch dialog box to retain your
changes, even if you click OK in the Branch Setup dialog box after you
add or edit a branch and after you click OK to confirm a deletion.
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Utilities configuration
The Branch dialog box is displayed with the license information.
7
Add the remaining branches by using the same process.
To edit a branch, select the row and click Edit. Modify the branch information in the
Branch Setup dialog box and click OK.
To delete a branch, select the row that contains the branch and click Delete.
Creating the city tax, state tax, and user-defined fee dropdown lists
Use the city tax, state tax, and user-defined fee dropdown lists to automate the entry of
predefined tax information on the Fees Worksheet.
To create a city tax, state tax, or user-defined fee dropdown list:
Note
The city tax dropdown list is used in the following example.
1
Select Utilities > Dropdown Lists > City Tax.
The Dropdown List: City Tax dialog box is displayed.
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Creating escrow and title tables
2
Click Add to open the Add Rates dialog box.
3
Enter a description of the tax rate in the Description field.
4
Complete the Mortgage section.
5
6
a
Specify whether the tax is based on the loan amount or the purchase price.
b
Select the Round up to the nearest $100 check box to round the loan amount or
the purchase price up to the nearest $100.
c
Enter the tax percentage rate and a dollar amount for any additional taxes to be
paid.
Complete the Deed section.
a
Specify whether the tax is based on the loan amount or the purchase price.
b
Select the Round up to the nearest $1000 check box to round the loan amount or
the purchase price up to the nearest $1000.
c
Enter the tax percentage rate and a dollar amount for any additional taxes to be
paid.
Click OK.
To edit an option, select the item and click Edit. Modify the processor name in the Edit
Selection dialog box and click OK.
To delete an option, select the option to delete and click Delete.
7
After you are finished adding and editing options, click OK.
Creating escrow and title tables
Use the Escrow Tables and Title Tables options to create tables for standard escrow and
title fees. You can access the tables by clicking the Table button in the Title Charges
section in the Fees Worksheet. Separate tables are used for purchases, refinances, and
the owner’s policy.
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Utilities configuration
Restriction
This option is available only to users who have access to secured areas.
Secured area access is specified for Point users in Point Administrator.
PointCentral users are granted access to company defaults as part of the
template set security settings.
If you are not granted access to secured areas, the option is disabled on
the Utilities menu.
The interface for creating escrow and title tables for purchases and refinances is the
same. For illustration purposes, the Escrow Purchase option is used in the following
example:
1
Select Utilities > Escrow Tables > Purchase.
Tip
Select Utilities > Title Tables > Lender’s Policy Purchase to create a
lender’s purchase title table dropdown list.
The Escrow: Purchase dialog box is displayed.
2
80
Click Add.
Calyx Software
Creating escrow and title tables
The detail dialog box is displayed.
Tables are numbered automatically when they are created. The table number is
displayed in the dialog box title.
3
To override the default table name, select the numeric name and enter a new name.
4
Select how the fee is to be calculated from the Based On dropdown list.
•
•
•
If you select Sales Price, the fees are calculated based on the sale price of the
property.
If you select Loan Amount, the fees are calculated based on the loan amount.
If you select Appraisal Val, the fees are calculated based on the appraised value of
the property.
5
To round the calculated fee to the nearest dollar amount, select Round Up or Round
Down and enter a value in the to nearest $ field.
6
To offset the amount by a specific value, enter the offset amount in the offset field.
7
Click Add to open the Add Range dialog box.
This dialog box is used to enter the formulas for multiple-tiered fees.
8
Enter the fee tier levels in the Add Range dialog box:
a
Enter the maximum tier amount for the option that you selected in Step 4 (sales
price, loan amount, or appraised value) in the Up to field.
b
Enter the base fee for that tier in the Base field.
c
Enter the fee percentage (in decimal format) for that tier in the Factor field.
d
Click OK.
The values that you entered are displayed in the table dialog box.
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Utilities configuration
e
Complete the Add Range dialog box for each tier in the company’s fee structure.
Important
The fees are calculated cumulatively (that is, the base fee from each
previous tier is added to the total fees). Therefore, when you enter
multiple-tiered fees, subtract the previous tier base fee from the base fee
of the tier you are currently adding to determine the amount to enter in
the Base field.
For example, if the base fee for the first tier of a fee structure is $250 for
a sales price of up to $250,000, enter $250 in the Base field. If the
second tier base fee is $500 for a sales price between $250,001 and
$500,000, subtract the first tier base fee ($250) from the second tier
base fee ($500) and enter the result ($250) in the Base field.
Based on the example, your fee table will look similar to the following figure:
9
Click OK after you have entered each fee tier.
Caution
If you enter a sales, loan, or appraisal amount in the loan application that
is not defined in one of the tiers, an escrow fee value is not calculated.
10 To designate a table as the default table, select the table from the Escrow: Purchase
dialog box and click Set as Default.
An asterisk is prepended to the table name.
Use the Edit and Delete buttons to modify and delete tables.
Related information
Refer to Completing the Fees Worksheet, on page 180, for more
information about using the escrow and title tables in the Fees
Worksheet.
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Setting up a proxy server
Setting up a proxy server
Use the TMS Connection Setup option to set up the Transaction Management Server
connection for sending and receiving information to and from third party vendors.
To configure the TMS connection:
1
Select Utilities > TMS Connection Setup.
The Transaction Management Server Connection dialog box is displayed.
2
Select the Use a Proxy Server check box to enable the dialog box fields.
3
Enter your IP address and port in their respective fields.
4
Complete the Credentials section with your user ID, password, and domain name.
5
Click OK to save the settings.
Tip
Contact the IT support professional in your organization for assistance
with setting up your proxy server.
Point User Guide
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Utilities configuration
Mobile access
To enable Point for mobile, use the Mobile Access utility to obtain a connection ID, enable
the mobile server, and specify other mobile parameters. Depending on your company
environment, this setup might be done individually by each user on their personal
computer, or by one person, such as the Point Administrator, on a single computer that
functions as the mobile server for an entire group.
Prerequisites
Before you (or the mobile users you are activating) can enable mobile in
Point and use the mobile feature for the first time, the following must be
in place:
1
2
3
You possess Point login credentials. (See your Point Administrator.)
You exist as a mobile user in MyCalyx and have received your unique
activation ID (identifies you as a mobile user) which was e-mailed
after you were set up as a mobile user in MyCalyx. (See your MyCalyx
Administrator.)
You have received your connection ID (identifies the computer where
the connection is enabled) and the computer that you will use as a
server was enabled, as described in this topic.
Requirement
Borrower auto file naming is required for Point mobile users to save new
loan files from their mobile devices. You can specify auto file naming
parameters in the Point Auto File Naming utility.
Related information
For information about how to set the auto file naming parameters, refer
to Naming files automatically, on page 93.
Configuring mobile access
To configure mobile access to Point:
1
Select Utilities > Mobile Access.
Note
This option is disabled for PointCentral users.
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Mobile access
The Mobile Access Configuration dialog box is displayed.
2
To activate Point mobile service, select the Enable Point for Mobile Access check box.
Important
•
When a computer is enabled for mobile access, the computer power
must remain on so mobile users can access Point. If the power is
turned off for any reason, mobile users will lose their connection.
•
If this check box is unchecked and the dialog box is subsequently
saved, all mobile users who use the computer as their mobile server
are unable to access Point through their mobile devices.
The connection ID is displayed in the Point Connection ID field.
3
Enter the lock expiration time. The default setting is 30 minutes.
The lock expiration time is the amount of time that the file remains idle while you have
it checked out before it becomes unlocked and available for other users to access.
Important
To prevent loss of data when you are finished working with a file, save it
to the server right away. If the lock time expires and you have not saved
your changes, the file is unlocked, returned to the server automatically,
and your updates will be lost.
Point User Guide
85
Utilities configuration
4
Click the Email Connection ID button to send the connection ID.
This ID is required when you access Point from your mobile device for the first time.
An outgoing e-mail message with the connection ID in the body is opened in your
default e-mail application.
5
Enter the e-mail addresses of the recipients who will use this computer as their mobile
server. Send the e-mail.
6
Click OK when you are finished.
The cloud connectivity is activated.
When a mobile user activates their mobile devices, their Point user name for each device
is displayed in the User Name column. When the user name is double-clicked, the
activation key that is associated with that user’s mobile device is displayed in the Device
column.
Related information
For more information about Point credentials, data folder security, and
your Point Administrator, refer to Chapter 23, Data folder and user
management.
Specifying search fields and result format
Use the Search/Display Settings/Pipeline Options to specify how the search results are
displayed when performing searches from the navigation panel.
The following options are available from the Search/Display Settings/Pipeline
Options dialog box:
•
•
•
•
Search Loan Settings
Auto Display Options
Extended Search Options
Pipelines
Use the Search Loan Settings tab to specify which fields are included in the search results
and the order in which they are listed in the Loan Search Results screen.
Customize the search function in the Search/Display Settings/Pipeline Options
dialog box by adding, removing, or re-ordering the search results on the navigation panel.
To format the search results:
1
86
Select Utilities > Search/Display Settings....
Calyx Software
Specifying search fields and result format
The Search/Display Settings dialog box is displayed with the Search Loan Settings
tab selected.
2
In the Search Loans Settings tab:
•
•
•
3
Click the Auto Display Options tab.
a
Point User Guide
Select the fields to display by using the Add and Remove buttons.
Change the sequence they are displayed by using the Move Up and Move
Down options.
Revert to the default settings by clicking Use Defaults.
Select Never or Always refresh for the latest results for each of the top three
sections.
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Utilities configuration
b
Select Off or Search for all records in the Cardex Default Search section.
Important
If you are using PointCentral, performance can be affected when the
refresh options are enabled. To avoid response time problems, disable the
refresh option on all Point clients. To refresh the search results manually
on the Loans and Tasks tabs, click Search.
4
Click the Extended Search Options tab.
Select the data folders where you want the search to take place.
To select all data folders, click Select all. To remove all folders, click Deselect all.
5
Click the Pipelines tab.
The Pipelines tab is used to define which data folders are included in the pipeline
indexing. The folders that you select in the Pipelines tab are removed from the
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Specifying search fields and result format
Extended Search Options tab. However, if the pipeline indexing is removed, the
options are reinstated in the Extended Search Options tab.
a
Select the folders to include in or remove from the pipeline indexing.
To select all data folders, click Select all. To remove all folders, click Deselect all.
b
Click OK.
If you are adding data folders to the pipeline index, are on a network but are not a
PointCentral user, and your data folders were not yet rebuilt, the following
message is displayed:
If you are removing data folders from the pipeline index, are on a network but are
not a PointCentral user, and your data folders were not yet rebuilt, the following
message is displayed.
c
To proceed with the index rebuild, click OK.
Caution
Rebuilding the index will prevent Point users who have not updated to
version 8.0, or later, from accessing the data folders that are indexed.
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Utilities configuration
Creating custom screens
Use the Custom Screen Settings option to create company-specific fields that are not
included in Point. It is possible to create up to four customized screens that can each
contain up to 25 fields of information.
Restriction
This option is available only to users who have access to secured areas.
Secured area access is specified for Point users in Point Administrator.
PointCentral users are granted access to company defaults as part of the
template set security settings.
If you are not granted access to secured areas, the option is disabled on
the Utilities menu.
To create a custom screen:
1
Select Utilities > Custom Screen Settings.
2
Select the custom screen you want to create or edit from the dropdown list.
3
In the Screen Name field, enter a name for the screen.
4
Select Field 1, or the first undefined field and enter a title in the Field Name field.
5
To format the field content, select the field type from the dropdown list.
•
•
•
6
90
To create a date field, select Date from the dropdown list. When information is
entered into the Date field in the custom screen, it is automatically formatted as a
date (MM/DD/YYYY).
To create a title for the form or a section heading that does not have a data entry
field, select Disabled from the dropdown list.
To create a dropdown list, select Dropdown List and enter the list items in the
Dropdown field.
Repeat Step 4 and Step 5 for any additional fields to include in the screen.
Calyx Software
Customizing the shortcut toolbar
7
Click OK to save your settings.
Tip
To access custom screens:
1
2
Open a prospect or borrower file.
Select Forms > Custom Screens.
Customizing the shortcut toolbar
Customize the shortcut toolbar to arrange it in a way that is most convenient for you to
access forms.
To customize the shortcut toolbar:
1
Select Utilities > Customize Shortcut Toolbar.
The Setup Shortcut Toolbar dialog box is displayed.
2
Select the file type for this arrangement from the dropdown list.
3
Use the following controls to further define the shortcut toolbar:
Point User Guide
•
In the List Layout section, arrange the sequence of the list by using the move
buttons. Select the form to move and click Move Up, Move Down, Move to
Bottom, and Move to Top.
•
In the Options section, select the Smart List: Most recently accessed form
moves to top of list check box to place the most-recently accessed forms at the
•
top of the list.
Click Sort List to sort the list alphabetically.
•
Select the Show Scrollbar check box to include a scroll bar in the list.
•
Click Load Default to restore the original default settings.
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Utilities configuration
4
Click OK.
Customizing screen colors
Use the Screen Colors option to customize your Point interface with different colors.
To set the screen colors:
1
Select Utilities > Screen Colors.
The Screen Colors dialog box is displayed.
2
In the Set Color of section, click the button that corresponds to the item to change.
The Color dialog box is displayed.
3
Select a color from the palette or create your own by selecting Define Custom Colors
and click OK.
4
To restore to the original default colors, click Use Default Colors in the Screen
Colors dialog box.
5
Click OK.
Specifying the default web browser
Use the Web Browser option to specify the default web browser for Point to use when
accessing the Internet.
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Naming files automatically
To set the default web browser:
1
Select Utilities > Web Browser.
The Find A Web Browser dialog box is displayed.
2
Click Browse to navigate to the web browser executable file.
Recommendation
Calyx recommends that you use Microsoft Internet Explorer as your
default browser.
3
Select the file and click OK.
Naming files automatically
Use the Auto File Naming option to enable Auto File Naming and to specify the
parameters that Point will use when Auto File Naming is enabled. Assigning automatic
names to files prevents the accidental overwriting of filenames. You can specify different
parameters for borrower and prospect files.
Requirement
You must enable Auto File Naming to import a batch of files into Point.
The interface to set auto file naming for prospects and borrowers is the same. Borrower is
used to illustrate the process in the following example:
1
Point User Guide
Select Utilities > Auto File Naming > Borrower.
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Utilities configuration
The Borrower Auto File Naming dialog box is displayed.
2
Select the Enable Auto File Naming check box.
Requirement
Borrower auto file naming is required for Point mobile users to save new
loan files from their mobile devices. If you are configured for mobile
access, enable auto file naming for borrowers.
3
To include a custom prefix in your file names, select the Use Prefix check box and
enter a numeric prefix of up to 10 characters.
4
Specify the date settings.
a
To use the date or partial date in your file name, select the corresponding check
box for Year, Month, and Day.
b
Select 1-digit, 2-digit, or 4-digit to specify the format for the year and month.
Requirement
For Auto File Naming to function properly, the prefix must be numeric
and the 2-digit option must be selected for the month parameter.
5
Select the number of digits to append to the file name from the Counter dropdown list.
Attention
To generate automatic MERS MIN Numbers for your files, the file name
cannot exceed ten characters.
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Saving files automatically
6
Click OK.
Related information
For information about mobile configuration, refer to Mobile access, on
page 84.
Saving files automatically
Enable the Auto Save option to automatically save loan files when you switch screens
and before printing.
1
Select Utilities > Auto Save.
The Auto Save dialog box is displayed.
2
Select Yes to enable Auto Save.
3
Click OK.
Generating the Mortgage Identification Number
automatically
Use the Auto MIN Generation option to automatically generate the Mortgage
Identification Number.
Restriction
This option is available only to users who have access to secured areas.
Secured area access is specified for Point users in Point Administrator.
PointCentral users are granted access to company defaults as part of the
template set security settings.
If you are not granted access to secured areas, the option is disabled on
the Utilities menu.
To automatically generate the MERS MIN:
1
Point User Guide
Select Utilities > Auto MIN Generation.
95
Utilities configuration
The MERS Mortgage Identification Number Setting dialog box is displayed.
2
Select the Automatically generate MIN check box to enable automatic MIN
generation.
3
Enter your 7-digit organizational identification number In the Organizational
Identification Number field and click OK.
Tip
To override automatic MERS MIN generation for a specific field, select
the lock box next to the field.
Related information
For more information about MERS, refer to the MERS web site.
Enabling autofill options
Save time when you enter addresses by setting the Zip Code Options to auto-populate
the associated City, County, and State fields when you enter a ZIP code.
To enable the auto fill options:
1
Select Utilities > Zip Code Options.
The Zip Code Options dialog box is displayed.
2
96
To autopopulate the City, County, and State fields, select the Automatically fill city/
state/county based on zip code check box.
Calyx Software
Identifying fields and field IDs
3
Select the Use all caps for city/state/county check box to display city, county, and
state in all uppercase letters.
4
Click OK.
Automatically populating City, State, and County fields
To use the autofill feature:
1
Access the Cardex database or go to a screen in a borrower or prospect file that
contains address entry fields.
2
Position the cursor in the Zip Code field.
3
Enter the zip or postal code and press <Tab>.
If the zip code is used in only one city, the City, State, and County fields are
automatically populated with those associated with the zip code that was entered.
If the zip code is used in multiple cities, the Select City dialog box is displayed.
4
Select the city where the address is located from the dropdown list.
5
Click OK.
The State and County fields for the selected city are automatically populated.
Click Cancel to leave the City, State, and County fields blank.
Identifying fields and field IDs
Field IDs are used when importing and exporting data, creating custom forms, and
creating report templates.
The following methods are available from the Utilities menu to identify fields:
Enable Field pop-up help
Use the Enable Field Pop-up Help option to cause the field name and ID to pop
up when you hover the cursor over the field.
Displaying field IDs
Use the Display Field ID option to enable Point to display the selected field ID in
the task bar at the bottom of the workspace.
Point User Guide
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Utilities configuration
Loading field IDs
Use the Load Field IDs option to load the field IDs into the fields of an empty
borrower or prospect file.
Tip
In addition to using the Utilities functions to identify field IDs, Point also
includes a Microsoft Excel file that contains a comprehensive list of field
IDs and the screens where they are located. The file, FieldID.xls, is stored
in the WINPOINT directory.
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Loan file overview
4
Point provides a set of forms for prospects and a set of forms for borrowers. Prospect files
are used for potential customers and borrower files are used for actual loans that are
being processed. Prospect files contain most of the marketing tools, preliminary
disclosures, and processing forms that you need.
A prospect file is easily converted to a borrower file after the prospect signs a Loan
Application. Borrower files contain the forms needed to process your loan from
origination through to submission to the underwriter.
Even though Point does not provide closing documents, it does provide interfaces with
vendors that do provide them.
The main difference between prospect and borrower files is that borrower files include the
following:
•
•
•
•
•
Verification forms
Submission forms
Transmittal forms
Access to the Banker screens
Additional Tracking functions
In this topic
•
•
•
•
•
•
•
•
•
Loan file creation
Saving loan files
Searching for loan files
Loan pipeline setup
Deleting loan files
Linking first and second mortgage files
Archiving loan files
Rebuilding lists
Swapping and deleting prospects, borrowers, and
co-borrowers
• Print and e-mail options
Loan file creation
The following methods are possible for creating new loan files:
•
•
•
•
•
Create from a template
Create from a blank file
Convert an existing prospect file to a borrower file
Duplicate an existing prospect or borrower file
Use Save As to copy an existing prospect or borrower file
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Loan file overview
Creating new prospect loan files
New prospect loan files are created from a blank file or by using a master template.
To create a new prospect file from a template or blank file:
1
Select the Loans tab from the navigation panel.
2
Select the data folder where you want to store the file from the dropdown list.
3
Select Prospect.
4
Click the New button or select File > New > Loan > Prospect... to open the Create
New Loan File dialog box.
5
Select the source of the new prospect file:
•
To create a loan file with no data, select New Blank File.
•
To create a loan file from a template, select New File from Master Template and
select the template to use from the list.
Tip
If you select the New File from Master Template option, the template that
was used last is preselected.
6
Click OK.
•
100
If you selected New Blank File, a blank prospect file is created. The file
automatically opens to the Prospect Information screen.
Calyx Software
Loan file creation
•
If you selected New File from Master Template, a prospect file that contains the
data from the template you selected is opened to the Prospect Information
screen.
Related information
•
Refer to Borrower and prospect information screens, on
page 253, for information about the Prospect Information
screen.
•
For information about creating templates, see Creating master file
templates, on page 615.
Creating new borrower loan files
New borrower loan files are created from a blank file, by copying an existing prospect file,
or by using a master template.
To create a new borrower file from a template, blank file, or existing prospect file:
1
Select the Loans tab from the navigation panel.
2
Select the data folder where you want to store the file from the dropdown list.
3
Select Borrower.
4
Click the New button or select File > New > Loan > Borrower... to open the Create
New Loan File dialog box.
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101
Loan file overview
5
Select the source of the new borrower file:
•
To create a loan file with no data, select New Blank File.
•
To create a loan file from an existing prospect file, select New File from Prospect
File.
Important
Changes to DRE regulations required the removal of one set of userdefined fields in the Payment of Other Obligations list on both MLDS
screens. Therefore, if you create a new loan file from an existing prospect
file that was created in an earlier Point version, any data that was in the
fields that were removed is lost. To include those obligations in the new
loan file, you must combine the additional obligations and enter the total
in the remaining user-defined field manually.
•
To create a loan file from a template, select New File from Master Template and
select the template to use from the list.
Tip
If you select the New File from Master Template option, the template that
was used last is preselected.
6
Click OK.
•
If you selected New Blank File, a blank borrower file is created. The file
automatically opens to the Borrower Information screen.
•
If you selected New File from Prospect File, the Search Loans dialog box is
displayed.
a
Specify your search criteria and click Search.
The prospect files that match your search parameters are displayed.
b
Select the prospect file from the list, and click OK.
A new borrower file that contains the data from the prospect file is created.
The file automatically opens to the Borrower Information screen.
•
If you selected New File from Master Template, a borrower file that contains the
data from the template you selected is opened to the Borrower Information
screen.
Related information
102
•
For information about searching for prospect files, refer to
Searching for prospect and borrower files, on page 108.
•
Refer to Borrower and prospect information screens, on
page 253, for information about the Borrower Information
screen.
•
For information about creating templates, see Creating master file
templates, on page 615.
Calyx Software
Loan file creation
Duplicating loan files: Copy
The Copy method for duplicating prospect and borrower loan files copies the Loan
Application and all the associated documents into a new file. Use this method to reuse
existing information for repeat loans or second mortgages.
Tip
Use the duplication process to create duplicate files or copy or move files
from floppy disks.
To duplicate prospect and borrower files by using the Copy function:
1
Select the Loans tab from the navigation panel.
2
Perform a search for the loan file that you want to copy.
3
Select the loan file that you want to copy and click Copy or select File > Copy >
Selected items....
Important
Changes to DRE regulations required the removal of one set of userdefined fields in the Payment of Other Obligations list on both MLDS
screens. Therefore, if you create a new loan file from a loan file that was
created in an earlier Point version, any data that was in the fields that
were removed is lost. To include those obligations in the new loan file,
you must combine the additional obligations and enter the total in the
remaining user-defined field manually.
The Copy Prospect (or Copy Borrower) dialog box is displayed.
4
Select a data folder, the file type (Prospect or Borrower), and specify one of the
following file naming conventions:
Preserve
Retains the original file name. This option is available only if you are copying a
borrower file from a prospect file, or a prospect file from a borrower file.
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Loan file overview
Auto Filename
Use the automatic file naming convention that is specified for the selected data
folder.
Manual Naming
Enter a name of your choice in the Rename File dialog box, which is displayed
when you click OK.
5
To copy only the Loan Application, check the Copy only 1003 data to start a new
loan including co-borrowers check box.
In addition to the Loan Application, the following items are duplicated in the new
loan when this option is selected:
•
•
•
•
User-defined document requests
Due date calculations that are defined in the Document Requests section of the
Status and Checklist screen
The originator who is identified in the Borrower Information screen
The processor who is identified in the Borrower Information screen
Important
The audit trail log is not copied with the loan data when the Copy only
1003 data to start a new loan including co-borrowers check box is
selected.
6
Click OK to complete the copy process and click Yes when prompted to confirm the
copy.
Related information
•
For information about how to specify the auto file naming
parameters and enable auto file naming, refer to Naming files
automatically, on page 93.
•
Refer to Searching for prospect and borrower files, on page 108,
for information about searching for loan files.
•
Refer to Chapter 11, Loan tracking, for information about the loan
checklist, third party documents, and document requests.
Duplicating loan files: Save As
The Save As method for duplicating prospect and borrower loan files copies only the loan
file into a new file. The Save As method does not copy any documents that were
generated by using one of the interfaces, such as a credit report or an appraisal.
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Loan file creation
To duplicate prospect and borrower files by using the Save As function:
1
Open the loan to use as the source. The source loan file must be a previously saved
loan.
Important
Changes to DRE regulations required the removal of one set of userdefined fields in the Payment of Other Obligations list on both MLDS
screens. Therefore, if you create a new loan file from a loan file that was
created in an earlier Point version, any data that was in the fields that
were removed is lost. To include those obligations in the new loan file,
you must combine the additional obligations and enter the total in the
remaining user-defined field manually.
2
Select File > Save As.
The Save As dialog box is displayed.
3
Select a data folder and the file type (Prospect or Borrower).
4
By default, the Use Auto File Naming check box is selected and the file naming fields
are disabled if auto file naming is turned on for the selected folder.
•
To automatically name the file by using the automatic file naming convention that
is specified in the auto file naming function, leave the Use Auto File Naming
check box selected.
•
To specify a file name of your choice, uncheck the Use Auto File Naming check
box to enable the file naming fields.
–
–
5
Type the file name in the File name field.
Select a file type from the Save as type dropdown list.
To copy only the Loan Application, select the Carry over 1003 data to start a new
loan check box.
In addition to the Loan Application, the following items are duplicated in the new
loan when this option is selected:
•
•
Point User Guide
User-defined document requests
Due date calculations that are defined in the Document Requests section of the
Status and Checklist screen
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Loan file overview
•
•
The originator who is identified in the Borrower Information screen
The processor who is identified in the Borrower Information screen
Important
The audit trail log is not copied with the loan data when the Carry over
1003 data to start a new loan check box is selected.
6
Click Save to save the file in the default loan file directory.
To save the file in a different location, click the Browse Other Location button.
Navigate to the new directory and click Save.
Related information
•
For information about how to specify the auto file naming
parameters and enable auto file naming, refer to Naming files
automatically, on page 93.
•
Refer to Chapter 11, Loan tracking, for information about the loan
checklist, third party documents, and document requests.
Creating new co-borrower loan files
Co-borrower files are generally used for applicants who are not married to each other.
A maximum of five co-borrowers are allowed per loan. Co-borrower applications are
saved under the primary borrower file name with the cbx extension. The x in the extension
denotes the co-borrower number. For example, the extension for the first co-borrower on a
loan is cb1, the second co-borrower, cb2, and so on.
To create a co-borrower file:
1
Create or open a prospect or borrower file.
2
Select Bor/Co-Bor > Co-Borrower x.
Tip
As a general rule, use Bor/Co-Bor when two or more people are buying
the same property.
If the borrower file is not saved, a message is displayed to confirm the save.
3
Click Yes to save the borrower file and populate the co-borrower file with the saved
borrower data. If you click No, the borrower file is not saved and the co-borrower file is
populated with the data from the most recently-saved borrower file.
The file automatically opens to the Co-Borrower Information screen.
Loan-specific data that is entered or changed in the borrower or any associated coborrower screens is updated in all files associated with the loan when the loan file is
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saved. Loan-specific data is also updated in concurrent first and second mortgage
borrower and co-borrower files.
Tip
To view combined debt-to-Income ratios, use the Combined
Transmittal Summary in the primary borrower file.
It is accessible from the shortcut toolbar or by selecting Forms >
Transmittal Summary > Combined Transmittal Summary.
Related information
For more information about adding unmarried co-borrowers, see
Knowledge Base article #0404 Adding non-married or non-occupant
Co-Borrowers.
Saving loan files
To save prospect and borrower files:
Select File > Save or click the Save icon on the toolbar.
Files are saved in the following formats:
File type
Extension
Location
Prospect
prs
c:\PNTDATA\Prospect\pointfile.prs
Borrower
brw
c:\PNTDATA\Borrower\pointfile.brw
Co-Borrower
cbx
c:\PNTDATA\Borrower\pointfile.cbx
You can also set parameters to have Point assign a sequential file name by using the auto
file naming feature.
Related information
For more information about setting the auto file naming parameters, see
Naming files automatically, on page 93.
Saving loan files as Point compressed files (pcfs)
If your e-mail program does not work with Point (for example, a web-based e-mail
account), save data files in Point Compressed File (pcf) format to e-mail as an attachment.
To save files in pcf format:
1
Open a prospect or borrower file.
2
Select File > E-Mail > Point Data File.
3
In the Email Point Data File dialog box, enter a password, and click Save as PCF...
4
In the Save As dialog box, select a location, enter the filename, and click Save.
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Loan file overview
5
Send the e-mail as an attachment from your e-mail application.
Related information
For more information about saving data files as pcf files, see Knowledge
Base article #0102 Saving Point attachments from e-mail.
Searching for loan files
Use the search function to locate prospect and borrower files.
Searching for prospect and borrower files
To search for prospect or borrower files:
1
Select the Loans tab from the navigation panel.
2
In the Search Loans pane, select the data folder you want to search in from the Data
Folder dropdown list.
3
Choose the file type (Prospect or Borrower).
4
Specify the Search By criteria from the dropdown lists.
The first dropdown list specifies what field to search in, such as the borrower’s last
name field or the loan status field.
The second dropdown list specifies how to search:
Begins with
Searches for any records that begin with the specified text in the selected field.
For example, a Last Name search for “smi” will produce all records with last
names that begin with “smi”; Smith, Smitty, Smithson, and so on.
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Matches with
Searches only for records that are an exact match with the specified text in the
selected field.
For example, a Last Name search for smi will produce only borrowers with Smi as
their last name. To search for a John Smith, you must enter Smith to produce all
borrowers with the last name of Smith.
5
Click Search.
The files that match the search criteria are displayed in the workspace.
Searching for co-borrower files
To search for co-borrower files:
1
Select the Loans tab from the navigation panel.
2
Select the data folder or folders you want to search from the Data Folder dropdown
list.
3
Choose the file type (Prospect or Borrower).
4
Click List Co-Borrowers.
The co-borrowers stored in the selected data folder are listed in the workspace.
Searching in multiple data folders
Use the advanced search feature to search in multiple data folders, including PointCentral
data folders if you run the PointCentral server. More field options are also available in the
Search by dropdown list when doing an advanced search.
To perform an advanced search:
1
Point User Guide
Select the Loans tab from the navigation panel.
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Loan file overview
2
Click Advanced Search to open the Advanced Search dialog box.
3
Select the data folder or folders that you want to search in from the Data Folders list.
Click Select All to search in all data folders.
4
Choose the file type.
You can search in both prospect and borrower files.
5
Specify the Search By criteria from the dropdown lists.
Note
When Conventional Loans, FHA Loans, Other Loans, USDA Loans,
USDA/RHS Loans, or VA Loans is selected, the additional search criteria
fields do not display.
6
Click Search.
The files that match the search criteria are listed in the workspace.
Related information
Refer to Step 4 in Searching for prospect and borrower files, on
page 108, for detailed information about specifying search criteria.
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Loan pipeline setup
Loan pipeline setup
The Pipeline gives you a view of the latest status of your active loans in a single screen.
The Pipeline view is similar to the Loans view. Loans are opened and sorted by using the
same method, however, the only buttons on the Pipeline screen are Open and, in manual
setup, Remove from Pipeline. In addition, the loan data that is on the Pipeline view is
different from the Loans view.
The following two options are available for setting up the loan pipeline:
Automated
With automated setup, you define the parameters for the loans that are included
in your pipeline. The pipeline will include the loans that have the most recent loan
status that you have selected, for the loan originator or processor that you have
selected, and that are in the data folders that you have selected. Whenever a loan
is updated to meet the Automated criteria, it is added to your loan pipeline.
Manual
With the manual setup, you manually select each loan to include in the pipeline.
Important
You can change the pipeline setup from Automated to Manual or from
Manual to Automated.
When you change from Manual to Automated:
•
The pipeline will display only the loans that meet the Automated
selection criteria.
•
The loans in the Manual pipeline are preserved, but not displayed in
the pipeline. They will become visible again when Manual is selected
from the Pipeline Setup dialog box.
When you change from Automated to Manual:
Point User Guide
•
The loans in the Automated pipeline are removed from the pipeline.
Upon reinstatement of the Automated selection, loans with the
specified criteria are displayed in the pipeline.
•
The loans in the previous Manual pipeline are displayed.
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Loan file overview
You can update the Pipeline screen by clicking the Refresh button or by exiting and
navigating back to the Pipeline screen.
Related information
For more information about user IDs and passwords, refer to Data
folder and user management, on page 763.
Setting up the loan pipeline automatically
To set up the loan pipeline to automatically select the loans in your pipeline:
1
Select the Pipeline tab from the navigation panel.
2
Click Pipeline Setup.
The Pipeline Setup dialog box is displayed.
3
Select the Set Pipeline as Default View check box if you want to set the Pipeline view in
Point as the default view which will open the Pipeline tab upon startup rather than the
Loans tab.
4
Select Automated.
5
In the Data Folders section, select the data folders that contain the loan files that you
want to include in the pipeline. Click Check All to select all of the data folders.
Click Uncheck All to uncheck all selected folders in the list.
Important
If you manually uncheck the Primary Data Folder, a warning message is
displayed that states the action will prevent the loans in that data folder
from showing in the pipeline.
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Note
The Data Folder list is automatically filtered to show only the data folders
where the current user has access.
Local folders are not displayed for Point Central users.
6
In the Status section, select the status of the loan files that you want to include the
pipeline. Click Check All to select all of the listed statuses.
If you select Other, all loans with a custom status in the Track > Status screen are
included in the pipeline.
7
In the LO/Processors section, select your name and any other loan originator or
processor whose loans that you have access to that you want to include in your
pipeline. Click Check All to select all the listed loan originator and processor files in
your pipeline.
Note
The LO/Processor list is automatically filtered to show only the loan
originators and processors for which you are allowed loan access.
8
Click OK.
If you are not a PointCentral user and your data folders were not yet rebuilt, the
following message is displayed:
9
To proceed with the index rebuild, click OK.
Caution
Rebuilding the index will prevent Point users who have not updated to
version 8.0, or later, from accessing the data folders that are indexed.
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Loan file overview
The index is rebuilt and the loans that meet the criteria that was specified in the
Pipeline Setup dialog box are displayed in the pipeline.
Related information
•
For more information about rebuilding lists (or indexes), refer to
Rebuilding lists, on page 122.
•
For more information about setting a custom status and the Track >
Status screen, refer to Loan status tracking, on page 526.
•
For information about access rights to other loan originator and
processor loan files in Point, refer to Data folder and user
management, on page 763, and in PointCentral, refer to the Point
Central User Guide.
Setting up the loan pipeline manually
To manually set up the loan pipeline:
1
Select the Pipeline tab from the navigation panel.
2
Click Pipeline Setup.
The Pipeline Setup dialog box is displayed.
3
Select the Set Pipeline as Default View check box if you want to set the Pipeline view in
Point as the default view which will open the Pipeline tab upon startup rather than the
Loans tab.
4
Select Manual.
The Automated Selection section becomes disabled.
5
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Click OK.
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Loan pipeline setup
If you are not a PointCentral user and your data folders were not yet rebuilt, the
following message is displayed:
6
To proceed with the index rebuild, click OK.
Caution
Rebuilding the index will prevent Point users who have not updated to
version 8.0, or later, from accessing the data folders that are indexed.
The index is rebuilt and the loans that meet the criteria that was specified in the
Pipeline Setup dialog box are displayed in the pipeline.
7
Click the Loans tab.
8
Perform a search to locate the loan files to include in the pipeline.
9
Select the files to add to the pipeline and click Add to Pipeline.
10 Click YES in the Add to Pipeline dialog box to confirm you want to add the selected
files.
11 Click OK to close the confirmation dialog box.
12 Perform another search, if necessary, to locate additional files for the pipeline.
13 Select the files and click Add to Pipeline.
14 Continue searching and adding loan files until you are finished adding files to your
pipeline.
15 Select the Pipeline tab to view the loans in the pipeline.
Attention
If at any time a loan is renamed, moved, deleted, or somehow removed
from a data folder index, a red X is displayed to the left of the loan file
record. The file details are removed from the display and only the file
name and data folder remain. If you click the empty loan file space, a
message is displayed that informs you that the file was moved, renamed,
or deleted.
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Loan file overview
Related information
•
For more information about searching for loans, refer to Searching
for loan files, on page 108.
•
For more information about rebuilding lists (or indexes), refer to
Rebuilding lists, on page 122.
Removing loans from the pipeline
To remove loans from the pipeline:
Restriction
You can remove loans only from a manually-created pipeline.
1
Click the Pipeline tab.
2
Select the files to remove from the pipeline and click Remove from Pipeline.
3
Click YES in the Remove from Pipeline dialog box to confirm the removal.
Moving loan files
Moving loan files in Point
Manage your files more efficiently by moving prospect and borrower files into other folders
and groupings.
To move prospect and borrower files:
1
Select the Loans tab from the navigation panel.
2
Perform a search.
The files that match your search criteria are displayed in the workspace.
3
Select the file to move.
4
Click the Move button on the workspace.
The Move Borrower (or Move Prospect) dialog box is displayed.
5
Select a data folder, the file type (Prospect or Borrower), and specify one of the
following file naming conventions:
Preserve
Retains the original file name. This option is available only if you are moving a
borrower file from a prospect file or a prospect file from a borrower file.
Auto Filename
Use the automatic file naming convention that is specified for the selected data
folder.
Manual Naming
Enter a name of your choice in the Rename File dialog box, which is displayed
when you click OK.
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6
Click OK to complete the move process and click Yes when prompted to confirm the
move.
Related information
•
For information about how to specify the auto file naming
parameters and enable auto file naming, refer to Naming files
automatically, on page 93.
•
For more information about searching for loan files, see Searching
for prospect and borrower files, on page 108.
•
You do not need to rebuild your lists when you move or copy files.
Refer to Rebuilding lists, on page 122, for more information about
rebuilding lists.
Moving and copying loan files from an external source
If you receive a Point loan file from an external source, you must move it or copy it into
your Point system before you can access it.
The interface for copying and moving prospect and borrower files is the same. The copy
borrower method is used to illustrate the process in the following example:
1
Select the Loans tab.
2
Click Copy or select File > Copy > Borrower from Specified Location.
The Copy Borrower and Prospect dialog box is displayed.
3
Click Browse to navigate to the location of the data folder that you want to move or
copy into your Point files.
4
Select a data folder, the file type (Prospect or Borrower), and specify one of the
following file naming conventions:
Preserve
Retains the original file name.
Auto Filename
Use the automatic file naming convention that is specified for the selected data
folder.
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Loan file overview
Manual Naming
Enter a name of your choice in the Rename File dialog box, which is displayed
when you click OK.
5
Click OK to complete the process.
Related information
For information about how to specify the auto file naming parameters
and enable auto file naming, refer to Naming files automatically, on
page 93.
Deleting loan files
To delete prospect and borrower files.
1
Select the Loans tab from the navigation panel.
2
Perform a search to locate the file to delete.
The Loan Search Results screen is displayed.
3
Select the file that you want to delete.
Warning
When you delete a file from Point, it is permanently removed. Point does
not have a recycle bin.
4
Click the Delete button and click Yes to confirm the deletion.
Linking first and second mortgage files
If you have a first or second loan in process for the same borrower, you can link the two
files to synchronize the data. You can link to an existing second loan or you can create one
during the linking process.
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Linking first and second mortgage files
Creating a new second loan while inking to an existing first loan file
To link a second loan file to a first loan file, you can either create a new second file at the
time you are linking the files together, or you can link to an existing second file.
To create and link a new second loan file from a first loan file:
1
Open a prospect or borrower file.
2
Select File > Subordinate Financing > Create New Second Mortgage File.
The Create and Link to New Second Mortgage dialog box is displayed.
3
To name the second mortgage file manually, disable Auto File Naming by unchecking
the Use Auto File Naming check box and entering the file name manually in the File
Name field.
4
Click Save.
The link between the two files is established. A dialog box prompts you to open the
second file.
Linking two existing loan files
To link two existing loan files:
1
Open the first loan file.
2
Select File > Subordinate Financing > Link to Existing Second Mortgage.
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The Search & Select a File to Link to dialog box is displayed.
3
In the Search By fields, enter the search criteria for the second loan.
4
Click Search.
The loans that meet the search criteria are displayed.
5
Select the loan you want to link and click OK.
The Link to Existing Second Mortgage dialog box is displayed.
6
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Click OK to confirm.
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Archiving loan files
The loans are linked and data is synchronized between the two. The first and second
loan toggle buttons are added to the shortcut toolbar.
Click the First Mtg and Second Mtg buttons to toggle between the primary and
secondary loans.
Related information
•
For information about specifying search criteria for a file search, see
Searching for loan files, on page 108.
•
It is also possible to link to a first mortgage file from a second
mortgage file. Refer to Creating a new first mortgage with a
new or existing second, on page 570, for more information.
Removing links between loan files
To remove any existing links between loans:
1
Open the first loan file and select File > Subordinate Financing > Remove Link to
Existing Mortgage.
2
Confirm the link removal in the Remove Link to Second Mortgage dialog box.
3
Click Yes to remove the link between the two loan files.
Archiving loan files
If you are finished with a file and want to archive it without completely removing it from
your records, move it into its own archive folder. For example, you might want to create an
archive folder called Closed Loans.
Related information
To create an archive folder, refer to Creating new data folders, on
page 766, for more information.
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Rebuilding lists
Point maintains an internal list of loan files to make searches faster. During normal use the
system stays up to date. However, Point cannot keep track of loan files that were moved
or copied with external programs, such as Windows Explorer.
Requirement
If you are running PointCentral, you must have local data folder access to
use the Rebuild Lists function.
To rebuild your lists:
1
Select File > Rebuild List.
The Rebuild Index dialog box is displayed.
2
Select the data folder from the Data Folder dropdown list.
3
Select the list or lists you want to rebuild, and click Start.
4
Click OK in the Rebuild Index dialog box.
5
Click Close in the Rebuild Index dialog box to return to the list of loans.
Swapping and deleting prospects, borrowers, and coborrowers
Point contains a tool that is used to swap borrower, prospect, and co-borrower
information, or delete all the information regarding a specific applicant.
To access this tool from a borrower or prospect file:
122
1
Open a borrower or prospect file.
2
Select Bor/Co-Bor > Swap or Delete.
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Print and e-mail options
The Swap or Delete Borrower/Co-Borrower dialog box is displayed.
Refer to the following table to ensure that you are using the correct format to swap or
delete applicants.
To...
for
Action
Swap Information Married Borrowers Click the top Swap option (that is located next to
and Co-Borrowers Swap Married Borrower and Co-Borrower).
Unmarried CoBorrowers
Delete
Information
Select the files to be swapped from the dropdown
lists under Swap Borrower and Co-Borrower File and
click the bottom Swap option.
Married Prospects, Click the first Delete option (that is located next to
Borrowers and Co- Delete Married Co-Borrower).
Borrowers
You might need to swap the main borrower or
prospect with the co-borrower before you delete the
information.
Unmarried CoBorrowers
Select the files you want to delete from the
dropdown list under Delete Co-Borrower File and
click the bottom Delete option.
Related information
For more information about changing a borrower file to a co-borrower
file, see Knowledge Base article #0078 Attaching a Borrower file to
another Borrower file as Co-Borrower1.
Print and e-mail options
Use the Point print and e-mail options to print or preview loan forms with or without data,
save loan files as PDF documents, e-mail loan files, and submit document packages to
borrowers for their electronic signature. Perform these actions from the Borrower Forms
dialog box which is accessible when you select Print, Print Preview, or Email > Forms
from the File menu. In addition, you can e-mail entire loan files by selecting Email >
Forms > Point Data File.
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Loan file overview
You can also view which forms were updated during the last automatic form update.
Related information
For more information about sending document packages to borrowers
for electronic signatures, refer to Sending document signature
packages to borrowers, on page 516.
Configuring print options
Before you can print any forms, check your print settings and set the parameters to
coincide with your print requirements.
Setting the default printer
Print requests are automatically routed to the default printer. To set or change the default
printer:
1
Select File > Print Setup.
This selection opens the standard Print Setup dialog box.
2
Select the default printer from the dropdown list and specify any other default
parameters.
3
To change the paper orientation, duplex settings, or tray selection, click Properties.
4
When finished in the Print Setup dialog box, click OK.
Related information
Refer to your printer documentation for more information about the
Print Setup dialog box.
Specifying paper configuration
Use the Paper Sources option to specify your printer paper options and locations.
To configure your paper sources:
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1
Open a prospect or borrower file.
2
Select File > Paper Sources.
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Print and e-mail options
The Paper Sources dialog box is displayed.
3
Verify that the printer you need to use is specified as the currently selected output
device.
To change this specification, select Print Setup to access the Print Setup dialog box.
4
Select the paper tray assignment for each paper type (letter, legal, and envelope) from
the corresponding dropdown list.
For example, to indicate that your printer stores legal paper in Tray 2, select Tray 2
from the Legal dropdown list.
Attention
The paper source options can vary depending on the printer model.
5
To print letter size documents on legal paper, rotate envelopes, or omit the envelope
return address, select the corresponding check box.
6
Click OK to finish.
Adjusting printed forms
If the margins or alignment on a form are uneven when the form is printed, use the Print
Offset option to adjust the form position on the paper.
Tip
Adjust the offset only if you encounter difficulties with the print
alignment.
To use print offset:
1
Point User Guide
Select File > Print Offset.
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Loan file overview
The Print Offset dialog box is displayed.
2
In the Shift Right or Shift Down fields, enter the number of inches to offset the printed
area. To set the offset by an increment of an inch, enter the amount in decimal format.
For example, enter .75 to move the graphic three-quarters of an inch.
Use a negative value to shift the offset up or to the left. For example, to move the text
a half inch to the left, enter -.5 in the Shift Left field.
3
Click OK.
Printing and previewing forms
Use the Borrower Forms dialog box to print and preview Point forms and screens. In
addition to the forms that require input, forms that do not require input are available to print
from the Borrower Forms dialog box.
To print documents:
126
1
Open a prospect or borrower file.
2
Select File > Print or click the Print icon on the toolbar.
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Print and e-mail options
The Borrower Forms dialog box is displayed.
3
Optionally, click the Updated Forms button to view the log that shows which forms
were updated so far for the current release.
4
Select the forms to print.
The selected forms are listed in the right side of the dialog box. Use the tabs in the
Borrower Forms dialog box to locate different form types for selection.
Tip
To print the entire Loan Application and avoid selecting each page
individually, select Loan Application - All from the forms list.
If the Loan Application contains more than four employers, six
liabilities, or 20 Real Estate Owned (REO) items, continuation sheets are
printed after the last page of the Loan Application. One continuation
sheet contains 22 REOs.
5
Select Print from the Output Option dropdown list.
Select Print Preview to review the forms before printing. You can also e-mail the
collection of forms as a PDF document or save the collection of forms as a PDF
document.
6
To customize the form font, click the Font button and make your selections.
7
Select Form with data from the Print Option dropdown list.
You can also print blank forms and forms that contain only company-specific data,
such as name and address.
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Loan file overview
8
If your forms use multiple page sizes, select the Print in order of paper size check box
to group the page sizes together.
9
Click the Print button.
10 Specify your print settings in the Print dialog box and click OK.
Related information
Refer to Chapter 6, Disclosures and other forms, for more information
about print-only forms.
Printing envelopes
To print envelopes:
1
2
Open a prospect or borrower file.
Select File > Print or click the Print icon from the toolbar to open the Borrower
Forms dialog box
3
Click the Envelopes tab.
4
Select the envelopes options.
The following envelope print options are available:
•
•
•
•
•
Envelope to Borrower (Present Address)
Envelope to Borrower (Mailing Address)
Return Envelope (Present Address)
Return Envelope (Mailing Address)
Verification envelopes
The verification options correspond to the institutions that were entered in the
verifications forms, for example, employers that were entered in the Verification
of Employment form are listed as a VOE Env option.
5
Click Print.
6
Choose the number of envelopes to print, and click OK.
Creating print groups
Create print groups to print multiple forms without having to select each form individually.
To create print groups:
128
1
Open a prospect or borrower file.
2
Select File > Print or click the Print icon on the toolbar to open the Borrower Forms
dialog box.
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Print and e-mail options
3
Click the Print Groups tab.
The Print Groups tab contains the list of your personal print groups and shared print
groups. Below the list of print groups are Create Group, Edit Group, and Delete
Group buttons. Use these buttons to create, edit, and delete your print groups.
4
Point User Guide
Click Create Group.
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The Print Groups dialog box is displayed.
The Print Groups dialog box is very similar to the Borrower Forms dialog box.
5
Enter a name for the print group in the Print Group Name field.
6
To share the group with other users, select the Share this print group check box.
7
Select the forms to include in your group. Use the tabs to access the different form
types.
The selected forms are listed in the Forms in Print Group section.
8
Click OK to save your group.
9
To print the group, select it from the Print Groups tab in the Borrower Forms dialog
box.
E-mailing data files
Use the Point Data File option to e-mail entire loan files to other Point users as e-mail
attachments.
To e-mail data files:
1
130
Select File > E-Mail > Point Data File or click the E-mail icon and select E-Mail Point
Data File.
Calyx Software
Print and e-mail options
The E-Mail Point Data File dialog box is displayed.
Tip
Use the last four digits of the borrower’s SSN as the password. In the email text, inform the recipient that the file is password-protected with the
last four digits of their SSN.
2
In the Password Protected field, enter a password, and click Send To.
To save the pcf file and send it later as an e-mail attachment, click Save As PCF.
An e-mail window from your default e-mail application opens with the file attached as
a Point compressed file (pcf).
Tip
In addition to the methods that are included in this topic, you can also email Point forms and files from the Borrower Information screen:
right-click the borrower’s e-mail address, select Send E-mail, Send Forms,
or Send Point Data File and follow the prompts.
3
Complete your e-mail and send it as you normally would.
Related information
For more information about pcf files, see Saving loan files as Point
compressed files (pcfs), on page 107.
E-mailing forms
Use the Borrower Forms dialog box to create PDF documents of the selected forms that
you can attach to an e-mail.
To e-mail forms:
1
Point User Guide
Select File > E-Mail > Form or click the E-mail icon and select E-Mail Forms.
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Loan file overview
The Borrower Forms dialog box is displayed.
Tip
You can also access the Borrower Forms dialog box by selecting File >
Print or File > Print Preview and selecting E-mail as PDF File from the
Output Option dropdown list.
2
In the forms list, select the Forms tab and select the forms to be sent.
Caution
Select forms for only one recipient at a time. When the Send button is
clicked, a single PDF file is generated that contains all of the selected
forms.
3
132
Click Send.
Calyx Software
Print and e-mail options
The Set PDF Password dialog box is displayed.
4
Select either Protect with Password or Do Not Protect with Password.
•
•
If you select Protect with Password, enter the password and click OK.
If you select Do Not Protect with Password, click the OK button.
An e-mail window from your default e-mail application opens with the forms attached
as a single PDF document.
Tip
In addition to the methods that are included in this topic, you can also email Point forms and files from the Borrower Information screen:
right-click the borrower’s e-mail address, select Send E-mail, Send Forms,
or Send Point Data File and follow the prompts.
5
Complete your e-mail and send it as you normally would.
Related information
•
For information about e-mailing from the document repository, refer
to E-mailing files from the document repository, on page 606.
•
For more information about e-mailing files and forms, see
Knowledge Base articles:
–
–
#0339 How to e-mail a Point file or form with Microsoft
Outlook
#0101 E-mailing files or forms outside of Point
Saving forms as PDF files
Use the Borrower Forms dialog box to create PDF documents of the selected forms.
To save forms as PDF files:
1
Point User Guide
Select the print icon to access the Borrower Forms dialog box.
133
Loan file overview
The Borrower Forms dialog box is displayed.
Tip
You can also access the Borrower Forms dialog box by selecting File >
Print or File > Print Preview and selecting Save as PDF File from the
Output Option dropdown list.
2
In the forms list, select the Forms tab and select the forms to include in the PDF file.
3
Click Send.
The Set PDF Password dialog box is displayed.
4
134
Select either Protect with Password or Do Not Protect with Password.
Calyx Software
Print and e-mail options
•
•
If you select Protect with Password, enter the password and click OK.
If you select Do Not Protect with Password, click the OK button.
The Save As dialog box is displayed.
5
Navigate to the location to save the file, enter a file name, and click Save.
Downloading Point compressed files from e-mail
When you receive a pcf file, it must be processed before you can download and view it.
To open a pcf e-mail attachment:
1
Open the e-mail with the pcf file attached.
2
Double-click the attachment in the e-mail to open the pcf file.
If you are using PointCentral or secured data folders, a login dialog box is displayed.
3
In the PCF Processor Login dialog box, enter the assigned password to access the
Point Compressed File Processor dialog box.
4
Select a data folder, the file type (Prospect or Borrower), and specify one of the
following file naming conventions:
Preserve
Retain the original file name.
Auto Filename
Use the automatic file naming convention that is specified for the selected data
folder.
Manual Naming
Enter a name of your choice in the Rename File dialog box, which is displayed
when you click Copy.
5
Click Copy.
6
Click OK in the PCF Copy Results dialog box.
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Loan file overview
7
Click Close to exit the Point Compressed File Processor dialog box.
Related information
For information about how to specify the auto file naming parameters
and enable auto file naming, refer to Naming files automatically, on
page 93.
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Loan Application
5
The most common version of the Uniform Residential Loan Application is the Fannie Mae
1003, which is the loan application that is used in Point. In addition to the Fannie Mae
application, other lender-specific loan applications are available from the Lenders menu.
In this topic
•
•
•
•
•
•
•
•
•
•
Specifying joint assets
Entering mortgage type and loan terms
Entering property information and loan purpose
Entering borrower information
Entering employment information
Entering income and housing expenses
Entering assets and liabilities
Summarizing the transaction details
Entering declarations
Printing the Acknowledgment and Agreement
clause
• Completing the government monitoring
information
When data is entered in a field that is common among the various loan applications in
Point, the corresponding field in all applications is automatically populated.
The basic Loan Application in Point is comprised of five screens that correspond to the
printed pages of a loan application.
The Loan Application is divided into the following sections:
Page 1
I. Type of Mortgage and Terms of Loan
II. Property Information and Purpose of Loan
III. Borrower Information
Page 2
IV. Employment Information
V. Monthly Income and Combined Housing Expense Information
Page 3
VI. Assets and Liabilities
Page 4
VII. Details of Transaction
VIII. Declarations
X. Information for Government Monitoring Purposes
Page 5
Lists additional assets, liabilities, and properties.
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Loan Application
Access any page of the Loan Application from the following locations in Point:
•
•
•
•
•
•
Shortcut toolbar
Forms menu
eLoanFile menu
Freddie Mac interface (Interfaces menu)
Fannie Mae interface (Interfaces menu)
Lenders menu
Different pages of the Loan Application are accessible by clicking the page number
button at the bottom of the Loan Application.
To access another section of the Loan Application, click the Go To button and select the
section that you want to view.
This information provides details about the different sections of the Loan Application
and provides information about how to complete the fields in Point for a typical loan.
Related information
•
Refer to Chapter 8, FHA and VA loans, for information about how
to complete an FHA or VA loan.
•
Several complex types of loans are explained in Chapter 13, Loan
scenarios, and in the following Knowledge Base articles on the Calyx
Support web site:
–
–
–
Second Mortgages - Knowledge Base article #0136 Processing
a second mortgage or home equity line
Investment Loans - Knowledge Base article #0455 Entering an
investment loan in Point
Piggyback Loans - Knowledge Base article #0152 Piggy Back/
First and Second Mortgage loans
Specifying joint assets
The top section of the Loan Application is used to indicate whether the income and
assets of another person will be used to secure the loan, or that the income and assets of
the borrower’s spouse or other person will not be used.
To specify the assets to be used:
1
Open page 1 of the Loan Application.
2
Select the first check box to indicate that another person’s income and assets will be
used to secure the loan.
Select the second check box if the income and assets of the borrower’s spouse or
another person will not be used to secure the loan.
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Entering mortgage type and loan terms
Entering mortgage type and loan terms
To enter the mortgage type and loan terms:
1
Open page 1 of the Loan Application and go to Section I. Type of Mortgage and
Terms of Loan.
2
Enter the Agency Case No and Lender Case No.
The agency case number is required for government loans, but is not required by all
lenders.
The lender case number does not apply for all loans. However, when it is applicable, it
is required for submission.
3
Specify the loan type, lien position, and amortization type.
Unless otherwise selected in the Borrower Information or Prospect Information
screen, the following default options are preselected:
•
•
•
Conventional mortgage
First lien
Fixed Rate loan
Important
If the loan is a home equity line of credit, select the HELOC check box on
the HELOC screen (Forms > HELOC). The Other check box is
automatically selected and the Description field is populated with
HELOC.
4
If not already specified, complete the Purchase Price, Loan Amount, Note Rate, Qual
Rate, and Term Due In fields.
Point User Guide
139
Loan Application
Click the Mth Pmt button to open the Monthly Payment Settings dialog box.
Use the Monthly Payment Settings dialog box to set the payment structure and the
loan terms and specifications. This dialog box is also accessible from the Borrower
Information, Good Faith Estimate, Loan Comparison, CA MLDS NonTraditional — 885, Prequalification, and Rent vs. Own screens. These fields
are also on the Truth-In-Lending screen. Data is populated throughout the loan file
when data is entered in these fields from any screen.
5
Enter the applicable terms into the dialog box and click OK when finished.
Entering property information and loan purpose
The property address, purpose of loan, and the name on the title are prepopulated from
the Borrower Information screen.
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Calyx Software
Entering property information and loan purpose
To enter property information and the loan purpose:
1
2
Open page 1 of the Loan Application and go to Section II. Property Information
and Purpose of Loan.
Enter the legal description of the property. If you use a master file, enter See
Preliminary Title Report in this field in the master file.
3
If not already specified, select the Property Type from the dropdown list.
4
If the loan is a construction loan, complete the If Construction Loan section.
If one of the construction options was not selected for the Purpose of Loan, these
fields are disabled.
Note
If the Cash-Out Refi, No Cash-Out Refi, Construction, or ConstructionPermanent check boxes are selected, the corresponding sections in the
Loan Application become enabled.
5
If the loan is a refinance of an existing loan, complete the If Refinance Loan section.
If a refinance, construction, or other option was not selected for the Purpose of Loan,
these fields are disabled.
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141
Loan Application
6
Select how the title will be held from the Manner in which Title will be held dropdown
list.
7
Specify whether the estate will be held in Fee Simple or Leasehold.
Typically, ownership is in Fee Simple. If Leasehold, specify the expiration date.
8
If the transaction is a purchase, enter the down payment information.
You can enter up to four down payment sources.
The dropdown lists contain values that correspond to Fannie Mae export codes.
Therefore, when you select a value from the list, the down payment information is
exported in Fannie Mae, 3.2 data. You can also enter user-defined data directly in
these fields. The user-defined data is exported as Fannie Mae down payment type of
Other.
The Banker > Shipping screen contains the down payment export fields for Freddie
Mac ULDD exports.
Attention
If you change the value of the loan amount or sales price, you must
return here to adjust the down payment values so they balance.
a
Enter the percentage of the purchase price of the down payment.
The dollar amount is calculated and populated in the corresponding field.
b
Select a down payment source from the dropdown list or enter a source manually.
c
Enter the amount in the corresponding field.
d
Enter additional down payment sources and amounts in the remaining fields, if
applicable.
Related information
142
•
For information about entering multiple down payment sources for
exporting to Freddie Mac loans and ULDD, refer to Tracking loan
shipment status, on page 364.
•
For more information about construction loans and completing this
section of the Loan Application, refer to Construction loans, on
page 581.
Calyx Software
Entering borrower information
Entering borrower information
To enter borrower information:
1
Open page 1 of the Loan Application and go to Section III. Borrower Information.
The borrower and co-borrower personal information (SSN, telephone numbers, age,
birth date, and education) and present address are prepopulated if the Borrower
Information screen was completed. If you did not complete the Borrower
Information screen, enter the information here. This information will populate the
Borrower Information screen.
2
Specify the marital status of the borrower and co-borrower by selecting the Married,
Unmarried, or Separated check box.
3
If either borrower has any dependents, enter the number of dependents and their
ages in the corresponding fields.
4
Specify whether the borrower and co-borrower own or rent their current residence and
enter the number of years they have lived at that address in the Present Address
section.
The address, city, and state are already populated if the Borrower Information
screen was completed.
5
Point User Guide
If either borrower receives mail at an address other than their current residence,
complete the Mailing Address section. If the borrowers receive mail at their current
residence, select the Same as Present Address check box.
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Loan Application
6
If the borrower or co-borrower have lived at their present address for less than two
years, complete the Former Addresses sections.
Tip
When entering an address in Point, enter the zip code first. If your Zip
Code Options are configured, Point will automatically populate the city
and state fields.
You can also configure Point to automatically enter the city, state, and
county fields in all uppercase text.
Related reading
To configure Point to automatically populate the city and state fields, and
to enter the city, state, and county fields in all uppercase text, refer to
Enabling autofill options, on page 96.
Entering employment information
To enter employment information into the Loan Application:
1
Open page 2 of the Loan Application and go to Section IV. Employment
Information.
2
Enter the current employer for both the borrower and co-borrower.
If the borrower is self-employed, select the Self-Employed check box.
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Calyx Software
Entering employment information
Populate the employment fields by using one of the following methods:
Caution
Entering employment information by importing it from the verification
screens or by populating it from the VOE/VOI requests replaces all
existing information in the employment section.
To prevent loss of data, use only one of these methods and enter
additional information manually after the import process is complete.
•
•
•
3
If the employment information is recorded in the Verification of Employment/
Income screen, click the From VOE button to populate the current and former
employer fields.
If the employment verification has not been requested, request it in Point by
clicking Request VOE/VOI and populating the fields during the process.
If the employment verification was already requested and received, populate
these fields by clicking the Populate Emp. button.
If the borrower or co-borrower has been employed by their current employer for less
than two years and the information was not populated from the Verification of
Employment/Income screen, complete the Additional Current and Former
Employers section.
To add a current or former employer to the list:
a
Click New to open the Edit Former Employer dialog box.
b
Enter the borrower’s previous employment information.
If a borrower or co-borrower has more than one current employer, select the
Current Employer check box to indicate that the borrower is still employed with
the company.
If the borrower was self-employed, select the Self-Employed check box.
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145
Loan Application
To enter multiple employers, click Save & New after each entry.
Note
The employer list can contain a maximum of eight employers.
Use the arrow buttons to navigate between entries in the Edit Former Employer
dialog box.
c
When you are finished entering employers, click Save & Close.
Use the Insert, Edit, and Delete buttons to add, change, or remove entries. Use
the Up and Dn buttons to move entries up or down in the list.
Related information
•
Refer to Chapter 10, Verifications, for more information about the
Verification of Employment screen.
•
Refer to VOE/VOI reports, on page 467, for more information
about submitting a verification of employment request in Point and
populating the employment fields.
Entering income and housing expenses
To enter income and housing expenses:
146
1
Open page 2 of the Loan Application and go to Section V. Monthly Income and
Combined Housing Expense Information.
2
Enter the primary borrower’s monthly gross income in the Base Inc field.
Calyx Software
Entering income and housing expenses
If the borrower’s income is based on an annual, semi-monthly, bi-weekly, weekly, or
hourly rate, convert it to a monthly rate by using the monthly income calculator. Click
the Base Inc button to open the Monthly Income Calculator.
a
Select the period that the income in Amount field represents from the Period
dropdown list.
b
Enter the gross amount that is earned for that period.
The Monthly Income field is populated with the calculated monthly amount.
c
3
Click OK to populate the Base Inc field.
Enter the monthly income from Overtime, Bonuses, Commissn, and Div/Int. Enter
these values as averages (usually over two or three years).
Net Rent, if applicable, is calculated from property information that is entered in the
Schedule of Real Estate Owned.
4
Repeat the process for the co-borrower.
5
Enter additional income in the Other field and in the Describe Other Income section.
a
Enter B or C to indicate whether the income is for the borrower or co-borrower.
Important
If you do not specify whether the other income is earned by the borrower
or co-borrower, the Other fields are not populated with the total other
income.
b
Enter a description of the income in the Description field or select a description
from the dropdown list.
c
Enter the amount of income per month in the Monthly Inc field.
The Other field in the Gross Monthly Income section is populated with the total
“Other” income.
6
Complete the Monthly Housing Expenses section.
The proposed first mortgage (First Mtg) payment is calculated and populated by Point
based on the values entered on page 1.
If the lien position for the subject loan is Second, the First Mtg button is enabled for
you to enter that information. Point calculates the first payment for the subject loan.
a
If the borrower has a second mortgage or owns additional property, enter that
amount in the Other Fin field. Any proposed financing is entered in the Proposed
column.
b
Enter the monthly hazard insurance and real estate tax expenses for the primary
residence in the Present column.
Tip
Set up standard tax and insurance formulas by using the dropdown list
utility.
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147
Loan Application
Use the buttons that correspond to each field to select the formula to use to
calculate the proposed expense or click the lock box to enter the amount
manually.
c
If the borrower must pay mortgage insurance, click the MtgIns button to select the
formula to use to calculate the expense or click the lock box to enter the amount
manually.
Tip
Set the values that are used to calculate mortgage insurance by using the
dropdown list utility.
These values are used in the PMI/MIP/FF/USDA dialog box which is
used to specify the conditions that are used to calculate the mortgage
insurance premium.
d
If the property in the transaction requires homeowner association dues, enter the
monthly amount of the dues in the HOA Dues field.
Point computes both the present and the proposed expense totals.
e
Click Other to open the Other In Housing Expenses dialog box. Enter or
change the current values. To exclude an expense from the total expenses, click
the Exclude check box.
Enter any additional amount in the Other field and click OK.
Related information
•
For more information about creating tax and insurance dropdown
lists, refer to Dropdown lists, on page 71.
•
For more information about the PMI/MIP/FF/USDA dialog box,
refer to Calculating mortgage insurance, funding fees, and
USDA fees, on page 285.
Entering assets and liabilities
The Assets and Liabilities section of the Loan Application documents a borrower’s
assets, debts, and real estate owned. It provides a collective view of a borrower’s financial
status for the loan processor to evaluate and determine the borrower’s loan qualifications.
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Entering assets and liabilities
Entering assets
To complete the Assets section:
1
Open page 3 of the Loan Application.
2
Verify with the borrower and co-borrower whether the information in this section is
being provided jointly or not jointly and select the applicable check box.
If the information is not being submitted jointly, complete a separate application for the
co-borrower. The co-borrower’s assets and liabilities are automatically combined with
the borrower’s.
3
In the Cash Deposit fields, enter the description of the source of funds and the amount
of the cash deposit, if any.
4
Complete the Checking & Savings Accounts section.
To add an asset to the list:
a
If the asset information is already recorded in the Verification of Deposit
screen, click the From VOD button to populate the accounts fields.
Caution
Entering assets by importing them from the verification screen replaces
all existing information in the assets section.
To prevent loss of data, click the From VOD button before you enter any
assets manually.
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Loan Application
If the information was not populated from the Verification of Deposit screen,
click New to open the Edit Asset dialog box.
b
Select the asset type from the dropdown list, enter the name and address of the
institution where the asset is held, the account number, and the value of the asset.
Click the Cardex icon to populate the name and address from the Cardex
database.
To enter multiple assets, click Save & New after each entry.
Use the arrow buttons to navigate between entries in the Edit Asset dialog box.
c
When you are finished entering assets, click Save & Close.
Use the Insert, Edit, and Delete buttons to add, change, or remove entries. Use
the Move Up and Move Dn buttons to move the selected entry up or down in the
list.
Note
The Checking & Savings Accounts list can contain a maximum of 20
accounts.
5
Enter the cash/market value of the following assets:
The Real Estate Owned field is populated from the information that is entered in the
Schedule of Real Estate Owned section.
a
Enter the vested amount of the borrower’s pension or retirement funds to which
they have access in the Vested Interest in Retirement Funds field.
b
If the borrower owns an interest in a sole proprietorship, partnership, or
corporation, enter the net worth of the business in the Net worth of business
owned field.
c
If the borrower owns any stocks and bonds, complete the Stocks and Bonds,
Shares, and Total Amount fields with the name of the stock, the number of shares,
and the total value of the shares.
d
Complete the Life Ins: Face Amt fields if the borrower has any life insurance
policies. Enter the face amount of the policy in the first field, and the cash value of
the policy in the second field.
Point calculates the Subtotal Liquid Assets.
6
Complete the Automobile(s) Owned fields:
a
150
Enter the year, make, and model for each automobile owned.
Calyx Software
Entering assets and liabilities
b
7
Enter the market value of each automobile.
Enter any remaining property of value in the Other Assets section. These assets might
include furniture, art, jewelry, or other personal items. Itemize them or aggregate them
as necessary.
Point calculates and displays the total value of assets.
Related information
•
For information about creating a separate application for a coborrower, refer to Creating new co-borrower loan files, on
page 106.
•
Refer to Chapter 10, Verifications, for more information about the
Verification of Deposit screen.
Entering liabilities
The Liabilities section documents information about a borrower’s debts and expenses to
ensure their ability to make the mortgage payments.
To complete the Liabilities section:
1
Point User Guide
Open page 3 of the Loan Application and go to the Liabilities section.
151
Loan Application
Use the following three methods to enter liabilities:
•
Manually enter them into the Loan Application.
Caution
Entering liabilities by importing them from the verification screens or by
populating them from the credit report replaces all existing information
in the liabilities section.
To prevent loss of data, use only one of these methods and enter
additional liabilities manually after the import process is complete.
•
•
2
Import the liabilities that are recorded in the Verification of Mortgage/Rent or
Verification of Loan.
Use the credit company interfaces by clicking the Request Credit, View Credit,
and Populate Liab buttons.
Click New to open the Edit Liability dialog box.
Enter the liabilities in the following sequence:
•
•
•
Mortgages
Installment loans
Credit card debts
a
Enter the name and address of the creditor, select the liability type from the
dropdown list, and enter the account number.
Attention
Lenders often require that child care be included in this section, because
the cost of the care is included as a part of the borrower’s debt ratio.
152
b
Indicate if the debt is for a revolving account (R), an installment loan (I), or a
mortgage (M) in the R/L(I)/M field.
c
Enter the balance, monthly payment, and number of months that remain until the
debt is paid in full.
d
Select the Will be paid off (*) check box to indicate that the debt will be paid at
the close of escrow.
e
Check the Resubordinated check box to indicate if the loan is a refinance of the
first loan on the property and will have first lien position before an existing second
loan on the property.
Calyx Software
Entering assets and liabilities
f
Check the Omitted check box to exclude the liability from the total liabilities.
The entries in the Balance and Monthly Pmt fields are automatically enclosed in
parentheses to indicate that they are negative values. Entries marked as Omitted
are deducted from the total liabilities and payments and are excluded from the
ratios.
To enter multiple liabilities, click Save & New after each entry.
Use the arrow buttons to navigate between entries in the Edit Liability dialog
box.
g
When you are finished entering liabilities, click Save & Close.
Use the Insert, Edit, and Delete buttons to add, change, or remove entries. Use
the Move Up and Move Dn buttons to move the selected entry up or down in the
list.
Note
The liabilities list can contain a maximum of 200 liabilities.
3
If the borrower owes alimony or child support as part of a divorce decree, enter the
description and monthly payment in the Alimony/Child Support fields.
4
In the Job Related Expense fields, enter job expenses such as union dues or uniforms.
The Net Worth and Total Liabilities Monthly Pmt and Mths Left fields are
automatically calculated.
Related information
Point User Guide
•
Refer to Chapter 10, Verifications, for information about the
Verification of Mortgage/Rent and Verification of Loan
screens.
•
Refer to Chapter 9, Integrated products and services, for
information about how to request credit, view credit reports, and
populate liabilities.
•
For more information about bracketed information, see Knowledge
Base article #0138 Using brackets or subtraction symbols.
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Loan Application
Entering real estate owned
To enter real estate that is owned by the borrower or co-borrower:
1
Open page 3 of the Loan Application and go to the Schedule of Real Estate Owned
section.
This section lists the details of the properties that are owned by the borrowers. If the
loan is a refinance, ensure that the subject property is the first item listed in this
section.
If the real estate owned is already recorded in the Verification of Mortgage/Rent
screen, click the From VOM button to import it to the Loan Application, or enter the
real estate owned manually.
Caution
Entering real estate by importing it from the verification screens replaces
all existing information in the real estate owned section.
To prevent loss of data, import the data before you enter any real estate
owned manually.
2
Click New to open the Edit Real Estate Owned dialog box.
3
Enter the property street address, city, state, and zip code in the Property Address
fields.
If the loan is a refinance, the property address is automatically populated from the
Loan Application. Select the Subject Property check box to specify the subject
property.
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Entering assets and liabilities
4
Indicate if the property was sold (S), if a sale is pending (PS), or if the property will be
held for rental income (R) in the S/PS/R field:
If none of the values apply (for example, if the property is a second home), leave the
field blank.
5
Select the property type from the Type dropdown list.
6
Enter any comments about the property in the Remarks field.
7
Enter the market value of the property in the Market Value field.
8
Enter the remaining mortgage balance in the Amt of Mtg field.
9
If the property is a rental, enter the gross rent amount in the Gross Rent field.
Note
If the property has a positive cash flow, the Net Rent field on page 2 of
the Loan Application is automatically populated.
If the property has a negative cash flow, it is displayed on the
Transmittal Summary.
10 If this is a second mortgage or property, add the first and second mortgage balance
and payments together. Enter the amount in the Mtg Payment field.
11 Enter the total insurance and tax payments, and any miscellaneous payments, such
as home owner’s association dues in the Ins/Tax/Misc field.
If the Occupancy Rate field contains a value and the property disposition is R (the S/
PS/R field) Point calculates the net rent.
12 To enter multiple properties, click Save & New after each entry.
Note
The REO list can contain a maximum of 200 properties.
Use the arrow buttons to navigate between entries in the Edit Real Estate Owned
dialog box.
13 When you are finished entering real estate, click Save & Close.
Use the Insert, Edit, and Delete buttons to add, change, or remove entries. Use the
Move Up and Move Dn buttons to move the selected entry up or down in the list.
Related information
Refer to Chapter 10, Verifications, for information about the
Verification of Mortgage/Rent and Verification of Loan screens.
Entering liabilities in a different name
If a borrower was issued credit under a different name than the name they are using on
the Loan Application, for example, a married woman had credit in her maiden name,
enter the account information at the bottom of page 3.
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Loan Application
To enter liabilities in a different name:
1
2
Open page 3 of the Loan Application and go to the bottom of the page.
Enter the Alternate Name the borrower used, the Creditor Name, and the Account
Number.
Matching liabilities to real estate owned
Use the matching liabilities function to match real estate with the corresponding loan on
the liabilities list. This feature is most useful when a borrower owns multiple properties and
has multiple loans because it identifies which loans are associated with which properties.
You can match a property to multiple liabilities.
To match liabilities and real estate owned:
1
Open page 3 of the Loan Application and go to either the Liabilities section or the
Schedule of Real Estate Owned section.
2
If you are in the Liabilities section, click the Match to REO button. If you are in the
Schedule of Real Estate Owned section, click the Match to Liability button.
The Match Liabilities & REO dialog box is displayed.
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3
Select a liability in the Liability section that you want to associate with an entry in the
Real Estate Owned section.
4
Select the item in the Real Estate Owned section that corresponds to the selected
item in the Liability section.
5
Click the Match button.
The REO number is entered in the REO# column for the selected liability.
You can associate more than one liability with an REO.
6
To remove the association between a liability and an REO, select both items and click
the Unmatch button.
7
Click OK when finished matching liabilities and real estate.
Summarizing the transaction details
The Details of Transaction section is used to provide an overview of the entire transaction.
It summarizes the information that was entered in the Fees Worksheet and Loan
Application. Adjust those entries in this screen if necessary.
To complete the transaction summary:
1
Open page 4 of the Loan Application and go to Section VII. Details of Transaction.
Most of the fields are already populated from information that was previously entered
in other screens.
2
Enter any additional information or make adjustments as needed.
3
If the loan is an FHA or VA loan, click the CC Adjustments for FHA button to open the
FHA: Additional Itemized Closing Costs dialog box.
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Loan Application
Allowable adjustments that were entered in the FHA loan screens are automatically
populated in this dialog. Make any adjustments to these amounts if necessary.
Related information
Refer to Chapter 8, FHA and VA loans, for information about entering
closing cost adjustments for FHA loans.
Entering declarations
The borrower and co-borrower are required to complete the Declarations section to
ensure that they meet certain eligibility requirements to receive the loan.
To enter declarations:
1
Open page 4 of the Loan Application and go to Section VIII. Declarations.
2
Enter Y or N to all questions for both the borrower and co-borrower.
Tip
If you are using a master file, enter Y for all of the responses to avoid
repetitive data entry. If the borrower has any no responses, change the Y
to an N when you complete the loan application.
Except for questions j and k, all Yes responses require an explanation. Click the
Declaration Explanations button at the bottom of the workspace to access the
Declaration Explanations dialog box.
3
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Enter an explanation for all Yes responses in the borrower or co-borrower Explanation
fields and click Close when finished.
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Printing the Acknowledgment and Agreement clause
Printing the Acknowledgment and Agreement clause
The following acknowledgment and agreement clause is located in Section IX.
Acknowledgment and Agreement of the Loan Application.
This section is not included in the Point interface. However, you can specify that the
statement print with the Loan Application.
“Right to Receive Copy of Appraisal: I/We have the right to a copy of the appraisal report
used in connection with this application for credit provided that I/we have paid for the
appraisal report. To obtain a copy, I/we must send creditor a written request at the mailing
address creditor has provided. Creditor must hear from me/us no later than 90 days after
creditor notifies me/us about the action taken on this application, or I/we withdraw this
application.”
To print the statement when the Loan Application is printed:
1
Open a borrower file.
2
Select Utilities > Company Defaults > Right to Receive Appraisal.
3
Select the Print “Right to Receive Appraisal” statement in section IX on the loan
application check box to include this statement when the Loan Application is
printed.
4
Select either the No time limitation to receive appraisal or the We must receive your
written request no later than check box to specify whether there is a time limit to
receive the request for appraisal.
If there is a time limit, specify the number of days when the request must be received.
5
Click OK.
Related information
For more information about the Acknowledgment and Agreement
section, refer to the Uniform Residential Loan Application on the Fannie
Mae web site.
Completing the government monitoring information
The information in this section must be provided to comply with anti-discrimination laws.
The current standards for HMDA reporting require you to keep data about these racial or
ethnic groups.
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Loan Application
To complete the government monitoring information:
1
Open page 4 of the Loan Application and go to Section X. Information for
Government Monitoring Purposes.
2
Select the appropriate option for the borrower’s and co-borrower’s race and ethnicity.
If the borrower declines to provide the information, select the I do not wish to furnish
this information check box.
Select multiple race options to indicate a multi-racial borrower.
3
Select the method by which the application was taken.
4
The Originator, NMLS#, Phone, and E-Mail fields are automatically populated when
the originator is selected from the dropdown list on the Borrower Information
screen. If the fields are not populated, select the interviewer’s name from the
Originator dropdown list. The NMLS number and telephone number are automatically
populated with the originator’s information.
If the interviewer’s name is not on the Originator dropdown list, you can enter their
name and telephone number manually or add them to the Originator dropdown list.
Attention
The NMLS# field is disabled and is populated only when a name is
selected from the Originator dropdown list. To populate the NMLS# field,
you must add the originator information to the originator dropdown list
utility (Utilities > Dropdown Lists > Originator) and provide their
NMLS number for the state where the property is located.
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Completing the government monitoring information
The company information is automatically populated with the company information
that was set up in the company defaults utility.
Tip
Set up the company information and the Originator dropdown list from
the Company Defaults > Company Information and Dropdown
Lists > Originator options on the Utilities menu.
5
Enter the date when you signed the application.
Related information
See Chapter 21, Contact management (Cardex), for more information
about entering information from Cardex.
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Disclosures and other forms
6
Disclosure forms are used to inform the prospective borrower in writing of the terms and
conditions of the loan that is being offered and the costs that are associated with the loan.
This information gives the borrower the opportunity to make an informed decision prior to
signing the loan agreement.
Forms are used to package conventional and FHA/VA loan information for submittal to
underwriting.
Under the Real Estate Settlement Procedures Act (RESPA), initial disclosures are to be
submitted to the prospect by the lender within three days of their request for a loan.
All forms and disclosures are accessible from the Forms menu and the shortcut toolbar.
In this topic
• Disclosures
• Forms
• Mortgage insurance, USDA fees, and escrow
(impound) account details
Disclosures
Point supports the federally-regulated required disclosures as well as a limited number of
state disclosures.
Anti-Steering Disclosure
The Anti-Steering rule was designed to discourage loan originators from guiding potential
borrowers into accepting transactions solely based on reasons that would increase the
loan originator compensation and that are not necessarily in the best interest of the
borrower. The rule also requires that the loan originator show the borrower different loan
scenarios so that the borrower can select one that is in their best interest.
The purpose of the Anti-Steering Disclosure screen is to illustrate to borrowers
different loan options for each loan type in which they have expressed an interest. The
disclosure will satisfy safe harbor from the rule by presenting the borrowers with the three
loan scenarios that are required by the rule.
Completing the Anti-Steering Disclosure
To complete the Anti-Steering Disclosure:
1
Open a prospect or borrower file.
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2
Open the Anti-Steering Disclosure from the Forms menu or the shortcut toolbar.
The first column shows the current loan information in the borrower file. Subsequent
columns that have a corresponding Edit button are existing scenarios. Columns with a
Create button do not have a scenario. Use the Create buttons to create up to six
scenarios based on the borrower’s interest.
Existing scenarios have an enabled Swap button. The Swap button is used to switch
the scenario with the same information in the fields in the borrower file.
Click Clear to remove an existing scenario.
3
Click a Create button to add another scenario.
The data in the scenario column is populated with the current borrower data and the
Create button changes to Edit.
Tip
To avoid switching between the Anti-Steering Disclosure and the edit
screen multiple times, click Create for each scenario you want to create.
You can switch to different scenarios while in edit mode.
4
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Click the Edit button for the scenario you want to edit.
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Disclosures
The Borrower Information Screen for that scenario is displayed.
The selected scenario is displayed at the top left of the screen. You can change the
displayed scenario by selecting a different scenario from the dropdown list at the top
right of the screen.
5
Move throughout the borrower file to enter the scenario criteria as if you were entering
the loan data for the borrower’s loan.
Note
When you make changes to scenarios 1 and 2, the loan comparison
scenarios on the Loan Comparison screen are also updated.
6
Point User Guide
When finished entering scenario criteria, select Anti-Steering Screen from the dropdown
menu to return to the Anti-Steering Disclosure.
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Disclosures and other forms
7
To swap one of the scenarios with the borrower file, click the corresponding Swap
button.
The data is switched with the information in the borrower file.
8
9
Complete the Anti-Steering Disclosure Selection section to specify which scenarios
will print on each disclosure.
a
In the Fixed row, select the scenarios with the Lowest Interest Rate, the Lowest
Origination Costs, and the Lowest Interest Rate without Risky Features.
b
In the ARM row, select the scenarios with the Lowest Interest Rate, the Lowest
Origination Costs, and the Lowest Interest Rate without Risky Features.
Save the file.
Closing Costs Worksheet
Use the Closing Costs Worksheet to itemize fees that populate the aggregate charges
on the Closing Disclosure. Print the Closing Costs Worksheet Fee Details and Closing
Costs Worksheet Summary of Transaction Details forms for details and a summary of the
estimated fees.
Completing the Closing Costs Worksheet
The Closing Costs Worksheet is similar to the Fees Worksheet. You can transfer fees
from the Fees Worksheet to the Closing Costs Worksheet.
To complete the Closing Costs Worksheet:
166
1
Open a prospect or borrower file.
2
Open the Closing Costs Worksheet from the Forms menu or the shortcut toolbar.
3
Enter the Date Prepared, Disbursement Date, and MIC #.
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Disclosures
4
To transfer the fees from the Fees Worksheet, click the Copy from Fees Worksheet
button.
5
Complete the remaining fields as needed.
Related information
Refer to Completing the Fees Worksheet, on page 180, for details
about the fields on the Closing Costs Worksheet.
Closing Disclosure
The Closing Disclosure screens are used to satisfy the compliance requirements for
disclosure of fees. The data on this screen is populated from the corresponding fields on
the Closing Cost Worksheet.
The Closing Disclosure information comprises five screens in Point. Most of the fields
are read-only and are populated from fields on other screens.
Completing the Closing Disclosure
To complete the Closing Disclosure:
1
Open a prospect or borrower file.
2
Open the Closing Disclosure from the Forms menu or the shortcut toolbar.
3
Enter or edit the Date Issued.
4
Review the data to ensure accuracy.
5
Review the remaining pages and edit the data as needed. Refer to the mapping tables
for field sources.
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Disclosures and other forms
6
Click the Pg 3 button to access page 3.
If the response is Yes to Did this increase? for any item, the corresponding check
boxes are enabled.
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a
Select the check boxes that apply to this loan.
b
Enter or edit the Seller Credits.
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Disclosures
7
Complete the Summaries of Transaction section.
Edit the data as needed. Refer to the mapping tables for field sources.
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Disclosures and other forms
8
9
Click the Pg 4 button to complete the Loan Disclosures section on page 4.
a
Select the applicable check boxes for the Assumptions and Demand Feature.
b
Specify the Late Payment Days and Charge.
c
If the loan has a negative amortization, the Negative Amortization fields are
enabled. Select the applicable check boxes.
d
Select the applicable check box in the Partial Payments section.
e
Select the applicable check box in the Escrow Account section and complete the
applicable fields for the selection.
Click the Pg 5 button.
a
Complete the Other Disclosures section.
b
Select the Liability after Foreclosure check box to indicate that the borrower is
protected under state law for liability if foreclosure occurs.
If the check box is not selected, the statement State law does not protect you from
liability for the unpaid balance is printed on the form.
c
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Select the Confirm Receipt check box to include a signature line on the printed
form.
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Disclosures
If the check box is not selected, a line for the borrower’s signature is not included
on the printed form.
Related information
•
For more information about the screens from which the fields are
populated, refer to Good Faith Estimate, on page 180,
Completing the Fees Worksheet, on page 180, and Truth-InLending Disclosure Statement, on page 223.
•
For field-to-field mapping information, refer to Field mapping
tables, on page 171.
Field mapping tables
The Closing Disclosure fields are populated as shown in the following tables.
Closing Information
Closing Disclosure
Point User Guide
Mapped from
Section/Field
Screen
Section/Field
Closing Date
Trailing Docs
Closing Date
Settlement Agent
Agent
Closing Agent
File #
Agent
Closing Agent
Number
Property
Borrower Information
Subject Property
Sales Price
Borrower Information
Sales Price
Appraised Value
Borrower Information
Appr Value
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Disclosures and other forms
Transaction Information
Closing Disclosure
Mapped from
Section/Field
Screen
Section/Field
Applicants
Names
Address
Borrower Information
Loan Application, Page 1
Borrower/Co-Borrower
Mailing Address
Seller
Agent
Seller
Lender
Agent
Lender
Loan Information
Closing Disclosure
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Mapped from
Section/Field
Screen
Section/Field
Loan Term
Borrower Information
Loan Summary, Term/Due
Purpose
Borrower Information
Loan Summary
Product
Truth-In-Lending
Summary of combination of fields
Loan Type
Borrower Information
Loan Summary
Loan ID #
Loan Application, Page 1
Lender Case No
MIC #
Closing Costs Worksheet
MIC #
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Disclosures
Loan Terms
Closing Disclosure
Mapped from
Section/Field
Screen
Section/Field
Loan Amount
Good Faith Estimate
Summary of Loan
Total Loan Amount
Can this increase
Good Faith Estimate
Summary of Loan
Even if payments are made on time,
can the Loan Balance rise? check box
Interest Rate
Good Faith Estimate
Summary of Loan
Initial Interest Rate
Can this increase
Good Faith Estimate
Summary of Loan
Can the interest rate rise?
Monthly P & I
Good Faith Estimate
Summary of Loan
Monthly Payment
Can this increase
Good Faith Estimate
Summary of Loan
Even if payments are made on time,
can the Monthly Principal, Interest,
and MI rise? check box
Prepayment Penalty
Truth-In-Lending
Prepayment
Balloon Payment
Good Faith Estimate
Summary of Loan
Loan has a Balloon Payment check
box
Projected Payments
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Closing Disclosure
Mapped from
Section/Field
Screen
Section/Field
Principal & Interest
Loan Application, Page 2
Monthly Housing Expenses
Proposed
Mortgage Insurance
Loan Application, Page 2
Monthly Housing Expenses
Proposed
Estimated Escrow
Closing Costs Worksheet
9. Initial Deposit for Your Escrow
Account
Estimated Total Monthly
Payment
Estimated Taxes, Insurance &
Assessments
Calculated
Loan Application, Page 2
Monthly Housing Expenses
Proposed
Costs at Closing
Closing Disclosure
Section/Field
Mapped from
Screen
Section/Field
Estimated Closing Costs
Calculated
Estimated Cash to Close
Calculated
Loan Costs
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Disclosures
Closing Disclosure
Mapped from
Section/Field
Screen
Section/Field
A. Origination Charges
Good Faith Estimate
Origination Charge
B. Services You Cannot Shop For
Good Faith Estimate
3. Required Services Select by
Mortgage Company
C. Services You Can Shop For
Good Faith Estimate
4. Title Services and Lender’s Title
Insurance
5. Title—Owner’s Title Insurance
6. Required Services That Borrower
Can Shop For
E. Taxes and Other Government
Fees
Recording Fees and Other Taxes
Transfer Taxes
Good Faith Estimate
7, Government Recording Charges
8. Transfer Taxes
F. Prepaids
Homeowner’s Insurance
Premium
Mortgage Insurance
Prepaid Interest
Property Tax
Good Faith Estimate
10. Daily Interest Charges
11. Homeowner’s Insurance
G. Initial Escrow Payment
Homeowner’s Insurance
Premium
Mortgage Insurance
Prepaid Interest
Property Tax
Good Faith Estimate
9. Initial Deposit in Escrow Account
H. Other
Fees Worksheet
Total Estimated Settlement Charges
Not Included on GFE
Calculating Cash-to-Close
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Disclosures and other forms
Closing Disclosure
Section/Field
Screen
Section/Field
Closing Costs Paid Before Closing Closing Disclosure, Page 2
F. Prepaids
Closing Costs Financed
Fees Worksheet
Total of all fees that have the
Financed indicator selected
Down Payment/Funds from
Borrower
Fees Worksheet
Loan Amount subtracted from
Purchase Price
Deposit
Fees Worksheet
Total Estimated Funds Needed to
Close
Cash Deposit fees (Line L)
Funds for Borrower
Loan Application, Page 4
Details of Transaction
Cash from/to Bor—a negative value
indicates an overpayment which the
borrower is to receive
Seller Credits
Fees Worksheet
Total Estimated Funds Needed to
Close
CC paid by seller (Line K)
Adjustments and Other Credits
Fees Worksheet
Closing Costs & Prepaid Items
Summary
Paid by Broker
Paid by Lender
Paid by Other
Cash to Close
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Mapped from
Calculated
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Disclosures
Loan Disclosures
Closing Disclosure
Point User Guide
Mapped from
Section/Field
Screen
Section/Field
Assumptions
Truth-In-Lending
Assumption
Late Payment
Truth-In-Lending
Late Charge
Negative Amortization
You are scheduled to make monthly...
You may have monthly payments...
You do not have a neg...
Truth-In-Lending
Escrow Account
Truth-In-Lending
Depends on value in Adj. Cap field.
Optional Payment, Yes
Adj. Cap blank, Optional Payment,
No
Escrow Account Information
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Disclosures and other forms
Adjustable Payment (AP) Table
Closing Disclosure
Mapped from
Section/Field
Screen
Section/Field
Interest Only Payments?
Truth-In-Lending
Payment Adjustments
Interest Only during Initial Pmt Rate
Period
Optional Payments?
Truth-In-Lending
Optional Payments
Step Payments?
Truth-In-Lending
Graduated Payment Mtg
Years
Seasonal Payments?
N/A
Monthly Principal and Interest
First Change/Amount
Truth-In-Lending
Payment Adjustments
Initial Pmt Rate Period ___ mths
Subsequent Changes
Truth-In-Lending
Payment Adjustments
Adj Period
Maximum Payment
Calculated
Estimated Cash to Close
Calculated
Estimated Closing Cost Financed
Calculated
Adjustable Interest Rate (AIR) Table
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Disclosures
Closing Disclosure
Mapped from
Section/Field
Screen
Section/Field
Index + Margin
Truth-In-Lending
Rate Adjustments
Margin
Index Type
Index
Step Rate (Increases in Interest
Rate)
Truth-In-Lending
Buydown Mortgage
Initial Interest Rate
Truth-In-Lending
Higher value of:
Loan Information, Note Rate
Rate Adjustments, Margin + Index
Minimum Interest
Truth-In-Lending
Rate Adjustments
Floor
Maximum Interest Rate
Truth-In-Lending
Rate Adjustments
Life Cap
First Change
Truth-In-Lending
Rate Adjustments
1st Change
Subsequent Changes
Truth-In-Lending
Rate Adjustments
Adj Period __ mths
First Change
Truth-In-Lending
Rate Adjustments
1st Adj Cap
Subsequent Changes
Truth-In-Lending
Rate Adjustments
Adj Cap
Change Frequency
Limits on Interest Rate Change
Loan Calculations
Closing Disclosure
Section/Field
Point User Guide
Mapped from
Screen
Section/Field
Total of Payments
Calculated
Finance Charge
Calculated
Amount Financed
Calculated
Annual Percentage Rate (APR)
Calculated
Total Interest Percentage (TIP)
Calculated
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Good Faith Estimate
The Good Faith Estimate provides borrowers with an estimated list of costs that are
associated with obtaining their loan. The Good Faith Estimate is used as a shopping
document for borrowers to compare their interest rate and loan fees, to more clearly
present the loan costs to the borrower, and to protect borrowers from excessive fees and
overcharges.
The printed Good Faith Estimate is comprised of three pages for both refinance and
purchase transactions. If the loan is a new construction loan, and one of the construction
options is selected in the Purpose of Loan section on the Borrower Information screen,
a fourth page, New Construction Statement, is automatically printed when the Good Faith
Estimate is printed. This page contains a statement that explains exceptions to the
disclosure requirements for construction loans. If one of the construction options is not
selected, the form is still available to print from the Borrower Forms dialog box.
The Good Faith Estimate, Fees Worksheet, and Service Providers List share
information and have some shared fields. Many of the fields on the Good Faith Estimate
are calculated fields that contain the total of a group of fees that are documented on the
Fees Worksheet. To change the aggregate of any of these fees on the Good Faith
Estimate, you must edit the individual fee on the Fees Worksheet. When a shared field
is changed on one screen, the change is reflected on all of the screens that contain that
field or use the information in that field.
The data entered into the Good Faith Estimate, Fees Worksheet, and Service
Providers List are used to populate the fields on the Loan Estimate, Closing Costs
Worksheet, and Closing Disclosure screens and produce the applicable forms.
Completing the Fees Worksheet
Complete the Fees Worksheet to itemize fees that populate the aggregate charges on
the Good Faith Estimate. Print the Fees Worksheet Fee Details and Fees Worksheet
Summary of Transaction Details forms for details and a summary of the estimated fees.
The following buttons, located at the bottom of the workspace, provide additional
functionality:
GFE
Use the GFE button to open the Good Faith Estimate to view and edit field
values.
Svc Providers List
Use the Svc Providers List button to open the Service Providers List screen.
Aggr Escrow
The Aggr Escrow button opens the Aggregate Escrow Account Disclosure
screen which is used to calculate ongoing escrow (impound account) payments.
Mtg Insurance
The Mtg Insurance button opens the PMI/MIP/FF/USDA dialog box which is
used to calculate mortgage insurance fees for conventional and government
loans.
Sub Financing
The Sub Financing button opens the Subordinate Financing Information
dialog box which is used to enter second, third, and fourth mortgage information
for the subject property and link the loan files.
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HE & Oblig
The HE & Oblig button opens the Housing Exp & Other Obligations dialog
box where housing and other monthly expenses are recorded and calculated.
QM
Opens the Qualified Mortgage Reporting interface. This function sends data from
the current loan to LoanScoreCard to evaluate the loan according to QM
standards and returns a report.
To complete the Fees Worksheet:
1
Open a prospect or borrower file.
2
Open the Fees Worksheet from the Forms menu or the shortcut toolbar.
The screen is divided into blocks that correspond to the blocks on the Good Faith
Estimate.
3
Complete the general loan information. Most of the fields are prepopulated.
a
Click Loan Program to populate information into the loan file from a loan program
template.
b
Click CC Scenario to enter the closing costs from a closing cost scenario template.
c
Complete the Company Names section.
If you select the Use check boxes, the broker, lender, and investor names are
automatically populated when the corresponding Paid To option is selected when
entering additional loan charges.
For example, if you select Broker from the Paid To dropdown list when specifying
the loan origination fee, the Company Name field is automatically populated with
the company that was entered in the Use for “Paid To” Broker Company Name
field in the Company Names section.
If you click the Check All Financed button, the finance (FIN) indicator is selected
for all fees to indicate that they are included in the loan amount. The button label
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Disclosures and other forms
changes to Uncheck All Financed when clicked. You can also select each fee
individually as applicable.
Important
The total amount of the selected fees is shown in the TOTAL FIN field.
However, this amount is not added to the loan amount that is calculated
by Point. You must adjust the loan amount separately.
4
Complete the Adjusted Origination Charges, Our Origination Charge section.
a
Select who is to receive payment (Broker, Lender, Investor, or Other) for the fee
from the Paid To dropdown list.
b
If not prepopulated, enter the company name of the payment recipient in the
Company Name field.
c
Enter the fee in the Amount field.
For the Loan Origination Fee and Mortgage Broker Fee fields, enter the fee as a
percentage, a flat fee, or a combination of the two. The Amount field is
automatically populated.
d
If the borrower is not the payer or there is more than one payer, click the
Borrower button to complete the Fee Distribution Worksheet.
Borrower is assumed when no option is selected.
The Borrower button label changes to indicate the payer of the fee. If more than
one payer is responsible for the fee, the button label changes to Multiple.
e
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Specify whether the payment is a prepaid finance charge (PFC), FHA-allowable
(F), paid outside of closing (POC), or Financed (FIN).
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Disclosures
Prepaid Finance Charge (APR Items)
The fees are included in the calculation of the Annual Percentage Rate (APR)
and the total amount is populated in the Truth-In-Lending Disclosure.
FHA Allowable
The item is an FHA-allowable closing cost and affects what can be charged to
the borrower or financed in the loan.
Paid Outside of Closing
Fees that are not included in the total estimated settlement charges
calculation.
Financed
Fees that are included in the total loan amount.
f
Enter any additional fees in the empty fields.
g
To include the lender-paid compensation to the broker, click the check box.
The associated percentage field becomes enabled.
h
Enter the percentage or click the lock box and enter the dollar amount of the fee to
deduct from the closing cost amount.
Requirement
The Credit check box in block 2 must be selected to enable the Include
Compensation from Rebate check box.
5
Complete the Your Credit or Charge for (Points) for the Specific Interest Rate
Chosen section.
a
Complete the Loan Discount information if there is a loan discount.
i
Select who is to receive the discount (Broker, Lender, Investor, or Other) from
the Paid To dropdown list.
ii
If not prepopulated, enter the company name of the payment recipient in the
Company Name field.
iii Enter the fee as a percentage, a flat fee, or a combination of the two. The
Amount field is automatically populated.
iv If the borrower is not the payer or there is more than one payer, click the
Details button to complete the Fee Distribution Worksheet.
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v
Specify whether the payment is a prepaid finance charge (PFC), FHAallowable (F), paid outside of closing (POC), or Financed (FIN).
b
Enter the Starting Adjusted Rate and the Discount/Rebate for Starting Rate.
c
If any discount points are bona fide, select the State Bona Fide check box and
enter the bona fide percentage in the % field.
d
Complete the Credit information if there are any loan credits.
i
Enter a description of the credit in the empty fields.
ii
Enter the percentage of the credit, the dollar amount, or a combination of the
two in the respective fields.
If a percentage and a dollar amount are entered for the same item, the values
are added and the total is displayed in the corresponding field.
iii Select the Apply to PFC check box to specify whether the credit is a prepaid
finance charge.
iv Select the Copy as a Lender Credit to 1003 Line L check box to copy the
credit to the Loan Application as a lender credit.
Note
The Loan Discount and Credit check boxes are mutually exclusive.
e
Enter any loan level pricing adjustments.
i
Select the fee type from the dropdown menu or enter one manually.
ii
Select who is to receive payment (Broker, Lender, Investor, or Other) for the
item from the Paid To dropdown list.
iii If not prepopulated, enter the company name of the payment recipient in the
Company Name field.
iv Enter the amount in the Amount field.
v
If the borrower is not the payer or there is more than one payer, click the
Borrower button to complete the Fee Distribution Worksheet.
Note
When you open a file that originated in an earlier version of Point for the
first time, the buttons automatically default to the selection previously
made in the file.
vi Specify whether the payment is a prepaid finance charge (PFC), FHAallowable (F), or paid outside of closing (POC).
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6
Complete the Charges for All Other Services, Required Services that We Select
section as described in Steps 4a through 4e.
This section itemizes the services and fees that the loan originator selects and
requires the borrower to use.
Enter up to three user-defined fees in the empty spaces provided.
7
Complete the Charges for All Other Services, Title Services and Lender’s Title
Insurance section as described in Steps 4a through 4e.
This section contains the title services and lenders title insurance fees.
Point User Guide
a
If the borrower selects a single provider that is not from the list of providers for all
services in the section, select the Borrower selects a single provider for all
services check box.
b
If the borrower selected more than one of their own providers to provide the title
services, select the Borrower chooses own providers - not from list check box for
each service they selected.
c
To calculate the fees by using the escrow and title tables that were set up in
Utilities > Escrow Tables (or Title Tables), click the lock box next to the Amount
field to enable the corresponding button.
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When the lock box next to the Amount field is selected, the fields for that item are
enabled. Click the lock box to unselect it and enable the corresponding button and
disable the associated fields.
d
Click the Closing/Escrow Fee or Lender’s Title Insurance button to open the
corresponding list of tables.
e
Select a table from the list and click OK.
The amount is automatically populated in the Amount field.
8
Complete the Charges for All Other Services, Owner’s Title Insurance section as
described in Steps 4a through 4e and Steps 7b through 7e.
Note
The Owner’s Title Insurance section applies only to purchase
transactions.
a
To calculate the insurance premium by using the tables that were set up in
Utilities > Title Tables > Owner’s Policy, click the lock box next to the Amount
field to enable the Owner’s Title Insurance button.
b
Click the button that corresponds to the tax to open the rate calculation dialog box.
c
Select a table from the list and click OK.
The amount is automatically populated in the Amount field.
9
Complete the Charges for All Other Services, Required Services That You Can Shop
For section as described in Steps 4a through 4e and Steps 7b through 7e.
This section contains the required services which the borrower can select the
provider.
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10 Complete the Charges for All Other Services, Government Recording Charges
section as described in Steps 4a through 4e.
11 Complete the Charges for All Other Services, Transfer Taxes section as described in
Steps 4a through 4e and Steps 7b through 7e.
This section contains an itemized list of taxes that the lender requires to be paid in
advance to the impound account.
a
Enter the tax information manually or calculate it by using the tax tables that were
set up in Utilities > Dropdown Lists.
When the lock box next to the Mortgage field is selected, the fields for that tax are
enabled. Click the lock box again to enable the corresponding button to access a
tax table.
b
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Click the button to open the Rates Calculation dialog box for that tax.
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c
Select the predefined tax from the Description dropdown list.
The mortgage and deed information for that tax is populated in the respective
fields.
d
Click OK to exit the dialog box.
e
Repeat for additional taxes.
12 Complete the Charges for All Other Services, Initial Deposit for Your Escrow Account
section as described in Steps 4a through 4e and Steps 7b through 7e.
a
Enter the deposit information manually or calculate it by using the tables that were
set up in Utilities > Dropdown Lists.
When the lock box next to the Amount field is selected, the fields for that item are
enabled. Click the lock box again to enable the corresponding button to access a
tax table.
b
Click the button to open the dialog box to calculate the insurance or tax for the
escrow account.
The PMI/MIP/VA FF/USDA Reserves button opens the PMI/MIP/FF/USDA
dialog box.
c
To exclude one of the user-defined fees from the escrow calculation in the TruthIn-Lending disclosure table, select the Do not include in TIL disclosure check box
that corresponds to that fee.
d
Use the Aggregate Adjustment button to open the Initial Escrow Account
Setup dialog box. This dialog box is used to specify funds that are to be
deposited into an escrow (impound) account.
To turn off the aggregation calculation and enter the amount manually, select the
corresponding lock box. The following actions occur:
188
•
The Aggregate Adjustment button becomes disabled.
•
The aggregated escrow recalculations functionality is disabled for printing,
therefore, when you print and preview the Aggregate Escrow Account
Disclosure the form will be blank.
•
The Calculate button is hidden in the Aggregate Escrow Account
Disclosure screen and calculated fields are cleared.
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•
Data in the Aggregate Escrow Account Disclosure screen is cleared.
•
The aggregated escrow recalculation functionality is disabled for MISMO
exports.
When the aggregate calculation lock box is turned on, the following actions occur:
•
The Aggregate Adjustment button becomes enabled.
•
The aggregated escrow recalculations functionality is enabled for printing
when you print and preview the Aggregate Escrow Account Disclosure.
•
The Calculate button is not hidden in the Aggregate Escrow Account
Disclosure screen.
•
The aggregated escrow recalculation functionality is enabled for MISMO
exports.
13 Complete the Charges for All Other Services, Daily Interest Charges section.
a
To override the number of days that were specified in the company utilities, select
the number of days from the Days/Year dropdown list.
Caution
If you override the number of days in a year, the change will also affect
calculations on the Truth-In-Lending screen and the APR.
b
Enter how many days of interest must be paid in advance in the days field.
The Amount field is automatically populated.
For prepaid interest, interest is paid for the remainder of the current month. The
amount is calculated based on the number of days per year that is set.
14 Complete the Charges for All Other Services, Homeowner’s Insurance Premium
section as described in Steps 4a through 4e and Steps 7b through 7e.
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15 Complete the Additional Settlement Charges not Included on GFE section as
described in Steps 4a through e.
The total estimated settlement charges not included on the Good Faith Estimate,
excluding fees paid outside of closing and the total of all the estimated settlement
charges including the fees on Good Faith Estimate are calculated.
16 Review the costs in the Closing Costs & Prepaid Items Summary and Total Estimated
Monthly Payment sections.
The total settlement charges are calculated and populated in the Total Estimated
Settlement Charges field.
The closing costs and prepaid item allocations are totaled in the Closing Costs &
Prepaid Items Summary and in the Closing Costs & Prepaids Allocation section. An
estimate of the monthly payments is provided in the Total Estimated Monthly
Payment section.
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17 Enter any adjustments in the Total Estimated Funds Needed to Close (Details of
Transaction) section.
This section contains a total of the estimated closing costs and prepaid items. This
information is duplicated in the Details of Transaction section on page 4 of the Loan
Application and the Cash-to-Close screen.
18 Enter any notes in the Notes section.
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Related information
•
For more information about setting the number of days in year and
setting the default company information, refer to Company default
information, on page 27.
•
For information about how to define the escrow account, refer to
Specifying the default escrow account payments, on page 55.
•
For more information about creating dropdown lists, refer to
Creating dropdown lists, on page 72.
•
For information about how to define fee tables, refer to Creating
escrow and title tables, on page 79.
•
Refer to Entering income and housing expenses, on page 146,
for detailed information about entering housing expenses and other
obligations.
•
For more information about the Details of Transaction section, refer
to Summarizing the transaction details, on page 157.
•
Refer to Calculating ongoing escrow payments, on page 283, for
detailed information about the Aggregate Escrow Account
Disclosure screen.
•
Refer to Calculating mortgage insurance, funding fees, and
USDA fees, on page 285, for information about the PMI/MIP/
FF/USDA dialog box.
•
Refer to Chapter 13, Loan scenarios, for detailed information about
the Subordinate Financing Information dialog box.
•
See Chapter 16, Templates, for more information about building
loan program and closing cost scenario templates.
Completing the Fee Distribution Worksheet
The Fee Distribution Worksheet is used to indicate what percentage or dollar amount
multiple payers are paying towards the associated fee.
Note
The Fee Distribution Worksheet is also used as the Impound
Distribution Worksheet.
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To complete the Fee Distribution Worksheet:
1
Click the Borrower button to open the Fee Distribution Worksheet.
2
Select who is obligated for the fee (Borrower or Seller) from the Responsible Party
dropdown list.
Borrower is assumed when no option is selected.
3
Select Split by % or Split by Amount to split the fee payment among multiple
payers.
The Fee % or Fee Amount fields are enabled accordingly.
4
Enter the percentage or the amount that each payer is making in the Fee % or Fee
Amount field.
When the full amount or percentage is entered, the OK button becomes enabled.
5
Click OK to return to the Fees Worksheet.
The Borrower button label changes to indicate the responsible party of the fee. If
more than one payer is responsible for the fee, the button label changes to Multiple.
Completing the Good Faith Estimate
Many of the fields on the Good Faith Estimate are calculated fields that contain the total
of a group of fees that are documented on the Fees Worksheet. To change the
aggregate of any of these fees on the Good Faith Estimate, you must edit the individual
fee on the Fees Worksheet.
The values in the following fields on the Good Faith Estimate are calculated from values
that were entered on the Fees Worksheet:
•
•
•
•
•
Origination Charge
Title Services and Lender’s Title Insurance
Government Recording Charges
Transfer Taxes
Initial Deposit in Escrow Account
When a fee field is initially populated or is changed on the Fees Worksheet, either by a
closing cost scenario or when a value is entered manually, the value in the corresponding
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Good Faith Estimate field is automatically updated. To change the value in the Good
Faith Estimate field, go to the Fees Worksheet and manually edit one of the field
values that comprise the total. When you are finished changing fees, return to the Good
Faith Estimate to view the updated value.
The fields on the Fees Worksheet that comprise these totals are included in the
explanations for each of these fields in this topic.
Attention
Fees that are marked as paid outside of closing (if the POC check box is
selected on the Fees Worksheet), per the final RESPA rule, are included
in the total calculation.
Fields that have a one-to-one correlation with fields on the Fees Worksheet, or any other
screens, are identified in their respective explanations.
The following buttons, located at the bottom of the workspace, provide additional
functionality:
Calculate
Use the Calculate button to calculate the trade off table and any rate and payment
adjustments in the Summary of Loan section.
Mtg Insurance
The Mtg Insurance button opens the PMI/MIP/FF/USDA dialog box which is
used to calculate mortgage insurance fees for conventional and government
loans.
Fees Worksheet
Use the Fees Worksheet button to open the Fees Worksheet to view and edit
field values.
Svc Providers List
Use the Svc Providers List button to open the Service Providers List screen.
Changed Circumstance
The Changed Circumstance button opens the Changed Circumstance dialog
box which is used to document changes to previously recorded fees.
QM
Opens the Qualified Mortgage Reporting interface. This function sends data from
the current loan to LoanScoreCard to evaluate the loan according to QM
standards and returns a report.
To complete the Good Faith Estimate:
Tip
Fees that are displayed as blue links provide details about the fee
calculation. Click the link for more information.
194
1
Open a prospect or borrower file.
2
Complete the Fees Worksheet.
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3
Open the Good Faith Estimate from the Forms menu or the shortcut toolbar.
4
Complete the GFE Disclosures section.
a
Enter the Disclosed Date in the corresponding field.
b
Select the method the information was delivered from the Disclosed Method
dropdown list.
c
Complete the Re-disclosed Date and Re-disclosed Method fields if a GFE is redisclosed to the borrower.
Note
Use the Changed Circumstance dialog box to record fees that change
and are re-disclosed. Access the dialog box by clicking the Changed
Circumstance button at the bottom of the screen.
5
Complete the Important Dates section.
Tip
Type <Ctrl> + D to populate the current date in a date field.
a
Enter the current date in the Date Prepared field.
b
Enter the date, time and select the time zone, if applicable, that the quoted
interest rate expires in the Interest Rate Available Through date and time fields.
c
Enter the date, time and select the time zone, if applicable, that the estimated
quoted costs expire in the Estimate Available Through date and time fields.
d
Enter the number of days from the date that the interest rate is locked that the
loan must close before the rate guarantee expires in the Rate Lock Period field.
This field corresponds to the Lock Term field on the Registration & Rate Lock
screen.
e
Point User Guide
Enter the minimum number of days the interest rate must be locked before the
loan can close in the Days Before Settlement Interest Rate Must Be Locked field, if
applicable.
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6
Complete the Summary of Loan section.
The general loan, term, rate, and payment information are automatically populated
from the Borrower Information screen.
a
To view or change the interest rate, payment, buydown, or mortgage insurance
information, click the Monthly Payment button to access the Monthly Payment
Settings dialog box. Make the necessary adjustments and click OK to return to
the Good Faith Estimate.
b
If the mortgage has an adjustable rate, select the Can the interest rate rise? check
box.
Attention
If the mortgage has a fixed rate, the Can the interest rate rise?, Even if
payments are made on time, can the Loan Balance rise?, and Even if
payments are made on time, can the Monthly Principal, Interest, and
any MI rise? check boxes are disabled.
The It can rise to a maximum of and First change will occur in fields are populated
based on information that was entered in the Truth-In-Lending and
Amortization screens, and in the Monthly Payment Settings dialog box.
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c
If the loan has negative amortization, an interest-only feature, or any other product
features that could cause the loan balance to increase, even if the payments are
made on time, select the Even if payments are made on time, can the Loan
Balance rise? check box.
The It can rise to a maximum of field is calculated based on information that was
entered in the Truth-In-Lending and Amortization screens, and in the
Monthly Payment Settings dialog box.
Exception
When escrow items that are paid through the loan are the only cause of
the loan balance increasing, you are not required to select this check box.
d
If an increase in the principal, interest, or mortgage insurance can occur which will
increase the monthly payment, even if payments are made on time, select the
Even if payments are made on time, can the Monthly Principal, Interest, and
any MI rise? check box.
The First Increase Can Be In, Monthly Amount Owed Can Rise To, and Maximum
Amount Can Ever Rise To fields are calculated based on information that was
entered in the Truth-In-Lending and Amortization screens and the Monthly
Payment Settings and PMI/MIP/FF/USDA dialog boxes.
e
If the loan has a prepayment penalty, select the Loan has a Prepayment Penalty
check box and enter the maximum amount of the penalty in the Maximum Penalty
field.
f
If the loan has a balloon payment, select the Loan has a Balloon Payment check
box.
The Balloon Payment of and Due In years fields are calculated based on
information that was entered in the Term/Due fields or on the MLDS.
The Summary of Settlement Charges fields are calculated values and are disabled.
These fields are populated when values are entered in the corresponding fields
elsewhere in the form.
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7
Complete the Adjusted Origination Charges section.
a
If not already selected and you are a broker, select the This Good Faith Estimate
is being provided by Broker check box to indicate that a broker is preparing this
form.
Attention
If you completed the Company Information defaults in the Point Utilities
menu and selected Broker as the I conduct business as a check box
option, the This Good Faith Estimate is being provided by Broker...
check box is automatically selected and is disabled.
b
The Origination Charge field is a calculated field and is always disabled. The field
reflects the total fees that the lender is charging to provide the loan to the
borrower. It also includes the charges for the mortgage broker, if applicable, but
does not include the charges for third-party services.
Verify and correct, if applicable, any fees on the Fees Worksheet that comprise
the total origination charges.
The field is populated with the sum of the following fees that are itemized in the
Our Origination Charge section on the Fees Worksheet:
•
•
•
•
•
•
c
Select one of the options to specify if the credits or charges are included in the
origination charge or how they affect the interest rate.
•
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Lender’s Inspection Fee
Mortgage Broker Fee
Processing Fee
Underwriting Fee
Wire Transfer
User-defined fees
If you conduct business as a lender and all charges and credits, including
those based on the interest rate, are included in the origination charge, you
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have the option of selecting the The credit or change for the interest rate on
this loan is included in the Origination Charge check box.
Note
This field is disabled when the This Good Faith Estimate is being
provided by Broker... check box is selected.
•
If the charges or credits are not included in the total origination charge and the
interest rate is determined by a credit or fee charged to the borrower, select
the Borrower receives a credit of... or Borrower pays a charge of... check box
and enter the interest rate in the corresponding field.
If there is a credit, it is deducted from the final closing costs. If there is a charge, it
is added to the final closing costs.
The credit or charge and the Adjusted Origination Charges fields are automatically
populated. The Adjusted Origination Charges field is also populated in the
Summary of Settlement Charges section.
Note
Use the trade off table at the bottom of the screen to create scenarios
that show how the settlement fees are affected with a higher or lower
interest rate.
8
Complete the Charges For All Other Settlement Services section.
This section is used to itemize fees for services for which the provider is selected and
required by the lender or the originator.
a
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In Required Services Selected by Mortgage Company, enter the estimated
charges for required third-party services where you selected the provider. Empty
fields are provided to enter user-defined services.
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The Up-Front Mortgage Insurance/USDA Guarantee Fee and VA Funding Fee
fields are calculated values and are disabled. These fields are populated with
information that was entered in the PMI/MIP/FF/USDA dialog box.
b
The Title Services and Lender’s Title Insurance field is a calculated field and is
always disabled. Verify and correct, if applicable, any fees on the Fees
Worksheet that comprise the total title services and lenders title insurance fees.
The field is populated with the sum of the following fees that are itemized in the
Title Services and Lender’s Title Insurance section on the Fees Worksheet:
•
•
•
•
•
•
Closing/Escrow Fee
Document Preparation Fees
Notary Fees
Attorney Fees
Lender’s Title Insurance
User-defined fees
Click the lock box next to the TOTAL, Title Services and Lender’s Title Insurance,
and Owner’s Title Insurance fields to enable the fields to enter the fees manually.
The Owner’s Title Insurance is not included in the finance charge or APR.
c
Complete the Required Services That Borrower Can Shop For section.
This section is used to itemize fees for required services for which the borrower
can select the provider. If the lender suggests the companies that provide those
services, they must list their names and an estimate of their fees.
i
Enter the estimated charges for the pest inspection, if applicable.
ii
Enter any user-defined services and estimated charges in the empty fields.
iii Verify and correct, if applicable, any fees on the Fees Worksheet that
comprise the government recording charges and transfer taxes.
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The Government Recording Charges field is populated with the recording fees
in the Government Recording Charges section on the Fees Worksheet.
The Transfer Taxes field is calculated from the City/County Tax/Stamps, State
Tax/Stamps, State Tax/Stamps, and the user-defined fields in the Transfer
Taxes section on the Fees Worksheet.
To manually edit the values in the TOTAL, Government Recording Charges,
Transfer Taxes, and Initial Deposit in Escrow Account fields, click the lock box
next to the field.
iv Select the Includes all property taxes check box if the initial escrow deposit
includes payments for all property taxes.
Select the Includes all insurance check box if it includes all insurance.
Select the Other check box if it includes payments for some, but not all of
those fees, and list those fees in the Other field.
The Initial Deposit in Escrow Account field is a calculated field and is always
disabled. Verify and correct, if applicable, any fees that comprise the total initial
escrow deposit on the Fees Worksheet.
The Initial Deposit in Escrow Account field is populated with the sum of the
following fees that are itemized in the Initial Deposit for Your Escrow Account
section on the Fees Worksheet:
•
•
•
•
•
•
•
d
Hazard Insurance Reserves
Mortgage Insurance Reserves
County Property Tax Reserves
School Taxes
Flood Insurance Reserves
User-defined fees
Aggregate adjustment
Complete the Daily Interest Charges information.
The Daily Interest Charges field is calculated based on the loan rate and other
terms of the loan.
i
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Enter the number of days that interest is being charged based on the
estimated settlement date.
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ii
Enter the estimated settlement date in the If Settlement is field.
These fields are populated from the Fees Worksheet if the interest
information in the Daily Interest Charges section is completed.
e
Enter the estimated insurance charges that the borrower is required to pay before
the loan closes.
The Hazard Insurance field is automatically populated from the fields in the
Hazard Insurance Premium section on the Fees Worksheet.
Enter the flood insurance premium in the Flood Insurance field.
To enter a user-defined prepaid insurance fee, enter an insurance type in the
blank fields or select one from the dropdown list and enter the estimated fees.
The items listed in the user-defined fields are not included in the APR or in the
Estimated Closing Costs or Cash from/to Borrower fields in the Details of
Transaction.
To manually change the value in the TOTAL field, click the lock box to enable the
field.
9
Complete the Tradeoff Table to provide the borrower with different scenarios that
illustrate how the settlement costs are affected when the interest rate is increased or
decreased.
a
Select the Display Tradeoff Scenarios check box to enable the interest rate and
change in settlement amount fields.
The fields in the Loan in this GFE column are automatically populated. Completing
the alternate scenario columns in the trade off table is optional.
Requirement
The alternate scenarios are not included on the printed Good Faith
Display Tradeoff Scenarios check box is selected.
Estimate unless the
The Loan in this GFE column shows the total settlement charges based on the
terms of the current loan that is being processed.
b
To show the borrower that accepting a higher interest rate will lower their
settlement costs:
i
202
Enter an interest rate that is higher than the proposed loan in the Initial
Interest Rate field in the Same loan with lower settlement charges column.
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ii
c
d
Enter the credit (as a percentage) that the lender pays for the higher interest
rate in the Change in Amount Paid at Settlement field in the Same loan with
lower settlement charges column.
To show the borrower that paying higher settlement charges can lower their
interest rate:
i
Enter an interest rate that is lower than the proposed loan rate in the Initial
Interest Rate field in the Same loan with lower interest rate column.
ii
Enter the discount (as a percentage) that the lender charges the borrower to
buy down the interest rate in the Change in Amount Paid at Settlement field in
the Same loan with a lower interest rate column.
Click Calculate to calculate the totals.
The following example shows a completed table:
Related information
Point User Guide
•
For information about setting company information defaults in the
Utilities menu, refer to Entering default company and
processing center information, on page 28.
•
For information about how to define the escrow account, refer to
Specifying the default escrow account payments, on page 55.
•
For information about how to define fee tables, refer to Creating
escrow and title tables, on page 79.
•
For information about entering insurance premiums, refer to
Entering income and housing expenses, on page 146.
•
Refer to Completing the Fees Worksheet, on page 180, for
information about completing the Fees Worksheet.
•
Refer to Calculating ongoing escrow payments, on page 283, for
detailed information about the Aggregate Escrow Account
Disclosure screen.
•
Refer to Calculating mortgage insurance, funding fees, and
USDA fees, on page 285, for information about the PMI/MIP/
FF/USDA dialog box.
•
For information about recording changed fees, refer to
Documenting fee changes, on page 204.
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Documenting fee changes
The Changed Circumstance dialog box is used to document when a fee that was
previously disclosed has changed.
To complete the Changed Circumstance dialog box:
1
Open a borrower file.
Restriction
The Changed Circumstance dialog box is not available in prospect
files.
2
Open the Good Faith Estimate and click the Changed Circumstance button.
3
Enter the date the fees were changed and the date that the changed fees were redisclosed to the borrower.
4
Select the reason for the changes from the dropdown menu.
Attention
The dropdown list that contains the reason for the change is populated
in the Disclosure Settings dialog box which is accessed from the
Utilities > Company Defaults > GFE/TIL Disclosure menu option.
You can make changes or additions to the list as needed.
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5
Enter details about the changes in the Details of Change field.
6
In the Fees Associated with Changed Circumstance section, list the fees that changed
in the Fee Description fields.
7
Enter the Previous Amount and the New Amount in their respective fields.
8
Click OK.
Related information
For more information about adding or changing the disclosure settings,
refer to Specifying disclosure settings for changed circumstances,
on page 33.
Completing the Service Providers List
The Service Providers List provides borrowers with a shopping list of services and
providers for services that are required by the lender. When you print this form, the option
to print with or without the fees is available.
The following buttons, located at the bottom of the workspace, provide additional
functionality:
GFE
Use the GFE button to open the Good Faith Estimate to view and edit field
values.
Fees Worksheet
Use the Fees Worksheet button to open the Fees Worksheet to view and edit
field values.
To complete the Service Providers List:
1
Open a prospect or borrower file.
2
Open the Service Providers List screen from the Forms menu or the shortcut
toolbar.
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The screen is divided into blocks that correspond to the blocks on the Good Faith
Estimate.
3
Complete the GFE Block 4 section.
a
Select one of the following check boxes:
•
Display as one provider that can perform all services in Block 4
Select this option to indicate that one provider will perform all of the services
in Block 4 on the Good Faith Estimate. The Shopping Allowed check box
becomes enabled.
•
Display separate providers for each component service
Select this option to indicate that different providers will perform the services
in Block 4 on the Good Faith Estimate. The Shopping Allowed check boxes
become enabled.
Important
When this option is selected, the fees for Block 4 services are printed on
the printed form, even when the print without fees form is selected from
the Borrower Forms dialog box.
b
Select the check boxes that correspond to the services in Block 4 that the
borrower can shop for in the Shopping Allowed column.
The Add Provider button is enabled.
c
Click the Add Provider button to open the Edit Service Provider dialog box to
add suggested providers for the borrower to choose from to provide that service.
i
Enter the name, address, and contact information of the service provider or
select the Cardex icon to populate the information from the Cardex database.
ii
To enter multiple service providers for that service, click Save & New after
each entry.
Use the arrow buttons to navigate between entries in the Edit Service
Provider dialog box.
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iii When you are finished entering service providers for that service, click Save &
Close.
When it is possible to define more than one provider for a service, the button label
changes to Add More Providers.
4
If the GFE Block 5 section is not completed, enter a value in the Title Insurance
(Owner’s) Fee Amount field.
a
If the borrower can shop for the provider, select the check box in the Shopping
Allowed column.
The Add Provider button is enabled.
b
5
Click the Add Provider button to open the Edit Service Provider dialog box to
add suggested providers for the borrower to choose from to provide that service,
as described in Step 3substep c .
Complete the GFE Block 6 section.
Services that were previously entered in the Fees Worksheet are displayed.
Attention
Values in parentheses represent fees that are to be paid outside of
escrow or fees that are not being paid by the borrower.
a
Enter additional services and their fees as needed.
b
For each service that the borrower can shop for the provider, select the check box
in the Shopping Allowed column.
When the service and fee are entered and the check box is selected, the Add
Provider button is enabled.
c
Point User Guide
Click the Add Provider button to open the Edit Service Provider dialog box to
add suggested providers for the borrower to choose from to provide that service,
as described in Step 3substep c .
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6
If applicable, edit the Service Providers information.
Providers added previously are listed in this section. To add more providers, scroll up
to the block that contains the service and click the Add More Providers button that
corresponds to the service for which you are adding the provider.
a
Select the service provider to edit.
b
Click Edit to open the Edit Service Provider dialog box.
c
Edit the name, address, and contact information of the service provider or select
the Cardex icon to replace the information with new information from the Cardex
database.
d
To enter additional service providers, click Save & New after each entry.
Use the arrow buttons to navigate between entries in the Edit Service Provider
dialog box.
When you are finished editing service providers, click Save & Close.
Restriction
A maximum of 50 records is allowed.
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Use the Delete button to remove entries. Use the Move Up and Move Dn
buttons to move the selected entry up or down in the list.
Tips
•
Use the scroll bar to view the columns that are not visible on the
screen.
•
To temporarily resize a column width, place the cursor on the vertical
line to the right of the column heading, click and hold, and drag to
the left or right to increase or decrease the column width. The
column will revert to the default width when you exit the screen.
Related information
•
For information about configuring the Service Providers List
disclaimer, refer to Editing the Service Provider List Disclaimer,
on page 35.
•
For information about the Good Faith Estimate, refer to
Completing the Good Faith Estimate, on page 193.
•
For information about the Fees Worksheet and how some of the
calculations are done on the Good Faith Estimate, refer to
Completing the Fees Worksheet, on page 180.
HOEPA home counseling disclosures
The HOEPA Homeownership Counseling screen is used to help you comply with the
HOEPA rules for disclosure and management of home ownership counseling.
The following disclosures are included with this feature:
•
•
•
•
•
•
Homeownership Counseling Notice—Not High-Cost Mortgage
Homeownership Counseling Notice—High Cost Mortgage
Acknowledgment of Receipt of Homeownership Counseling Notice
Acknowledgment of Certification of Counseling
Counseling for First-Time Borrowers Acknowledgment
Homeownership Counseling List
Completing the HOEPA Homeownership Counseling screen
To complete the HOEPA Homeownership Counseling screen:
1
Point User Guide
Open a borrower file.
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2
Open the HOEPA Homeownership Counseling screen from the Forms menu or
the shortcut toolbar.
The data for the top portion of the screen is entered after the borrowers have
completed the homeownership counseling.
The lower portion is completed first to provide the borrowers with names of local
organizations where they can obtain the required counseling. This information
populates the Homeownership Counseling List disclosure when generated.
3
Enter the name and contact information of local organizations in the Homeownership
Counselors List field.
4
To search for a list of local counseling organizations on the CFPB website, click the
CFPB Tool to Generate Homeownership Counselors List link.
a
On the website, enter the borrower’s zip code and click Find A Counselor.
The website will return results for the ten counseling organizations nearest to the
zip code entered.
b
Transfer the information to the Homeownership Counselors List field in Point.
Tip
You can copy and paste all or a portion of the list or enter the
information manually.
5
Generate the HOEPA disclosures applicable to this loan.
6
After the borrower has completed the counseling and you have received the
certification of completion, complete the Date Prepared, Counselor Name, Counselor
Address, Borrower Completed Date, and Co-Borrower Completed Date fields.
Initial ARM Disclosure statement
The Initial ARM Disclosure statement contains information about the terms of the
adjustable loan that the borrower is considering. This form explains to the borrower how
the interest rate is calculated and adjusted, how the payments are determined, and how
and when the payments can change over the life of the loan.
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The following buttons, located at the bottom of the workspace, provide additional
functionality:
Calculate
Use the Calculate button to calculate the Worst Case Scenario fields at the
bottom of the form.
Monthly Sch
Use the Monthly Sch button to view the amortization schedule based on the data
in the Truth-in-Lending screen.
Truth-In-Lending
Use the Truth-in-Lending button to open the Truth-in-Lending screen.
Related information
For information about the Truth-In-Lending disclosure, refer to TruthIn-Lending Disclosure Statement, on page 223.
Completing the Initial ARM Disclosure
To complete the Initial ARM Disclosure screen:
1
Open a prospect or borrower file.
2
Open the ARM Disclosure (Initial) from the Forms menu or the shortcut toolbar.
3
Complete the Brokerage Name section.
These fields can be predefined by specifying the company defaults in the utility
function.
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To manually enter this information or use the Cardex database to populate these
fields, select the Manually enter company information on page 4 of the 1003 check
box in the Company Information dialog box when the company information is
defined.
4
Complete the Lender Name and Loan Program fields.
Use the Cardex database to populate the Lender Name field.
5
6
Complete the How your Interest Rate is Determined section.
a
Select the index base from the dropdown list, or enter it manually.
b
Enter the location where the borrower can find additional information about how
indexes are calculated in the Information about the Index is available at/in field.
c
Indicate how the interest rate was determined by selecting the applicable Your
interest rate is based on check box and completing the corresponding field.
d
Select the Initial Interest Rate Discount and Interest Rate Changes are Subject
to the lender's discretion check boxes, if applicable to the loan.
e
If the initial loan payments are interest only, enter the number of months in the
Interest Only mths field.
Complete the Rate Adjustments section.
If this information was entered in the Truth-in-Lending screen, it is automatically
populated. If this information is entered or changed in the ARM Disclosure (Initial)
screen, the Truth-in-Lending screen is automatically populated.
Attention
For negative amortization loans, leave the 1st Adj Cap and Adj Cap fields
blank.
The Floor field is optional.
a
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In the 1st Adj Cap ___% field, enter the maximum percentage that the rate will
increase for the first adjustment.
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7
b
In the 1st Change ___mths field, enter the number of months until the first
adjustment.
c
In the Adj Cap ___% field, enter the maximum percentage that the rate will
increase for each period.
d
In the Adj Period ___mths field, enter the number of months between each rate
adjustment for the remainder of the loan.
e
In the Life Cap ___ field, enter the maximum percentage to which the rate can
increase for the life of the loan.
f
In the Margin and Index fields, enter the margin and index based on your lender’s
loan program. To show worst case scenario, leave the Index field blank.
Complete the Payment Adjustments section.
If this information was entered in the Truth-in-Lending screen, it is automatically
populated. If this information is entered or changed in the ARM Disclosure (Initial)
screen, the Truth-in-Lending screen is automatically populated.
a
Specify the initial interest rate by selecting Start rate, % Below Note Rate, or % of
Amortized Pmt from the Initial Payment Rate dropdown list and enter the percentage
in the % field.
Start Rate
Bases the minimum payment at the start or “teaser” rate.
For the start rate to be 1.25% and increase to the full note rate after a month,
enter 1.25 in the Initial Pmt Rate % field, and 1 in the Initial Pmt Rate Period.
% Below Note Rate
Bases the minimum payment at a rate less than the note rate.
If the percent below the note rate is 3% and the note rate is 7%, the formula is
7% – 3% = 4%. Therefore, the minimum payment is calculated by using 4%
as the rate.
% of Amortized Payment
Bases the minimum payment on a percentage of the fully amortized payment.
If the percent of amortized payment is 55% and the full payment is $1,432, the
formula is $1,432 x .55 = $788.05 minimum payment.
Point User Guide
b
Enter the number of months that the borrower is eligible to make the initial
payment rate in the Initial Pmt Rate Period field.
c
Check the Interest Only During Initial Pmt Rate Period check box to specify
interest-only payments during the initial payment rate period. When checked, the
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initial interest-only payments expire at the end of the term that is specified in the
Initial Pmt Rate field and default to the period Interest Only ___ mths field.
Attention
Even though the payment adjustment is lower than the full amortization
amount during the initial payment rate period, the debt-to-income ratio
is still calculated based on the qualifying rate.
d
Enter a value in the Adj Cap field to specify a payment adjustment.
e
Enter a value in the Adj Period field to specify the term in which the payments can
adjust.
f
Enter the re-amortization rate and the number of months it is effective in the
Recast Pd/Stop fields.
The recast period is the lesser of the minimum payment term or the interest only
period.
g
8
Check the Calculate Qual Ratios at the Max Adjusted Loan Balance check box to
calculate a new loan amount and debt-to-income ratios based on the new loan
amount.
Complete the ARM Rounding Options and Important Loan Information sections.
If this information was entered in the Truth-in-Lending screen, it is automatically
populated. If this information is entered or changed in the ARM Disclosure (Initial)
screen, the Truth-in-Lending screen is automatically populated.
9
a
Enter the amount that the rate is to be rounded to in the Rate field. Select the
applicable check box to specify whether the rate is to round up to the nearest
point, or down.
b
Specify whether the loan has a prepayment penalty or a demand feature.
Click the Calculate button to populate the Worst Case Scenario fields.
The worst case scenario assumes a loan amount of $10,000 and is based on
information that you entered in the Rate Adjustments section.
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If you print the form before you click Calculate, the fields are automatically calculated
before the form is printed.
Related information
•
For more information about using the company defaults utility and
the Company Information dialog box, refer to Company default
information, on page 27.
•
See Chapter 21, Contact management (Cardex), for information
about populating fields by using the Cardex database.
Loan Estimate
The Loan Estimate screen is used to satisfy the compliance requirements for disclosure
of fees and to generate the printed Loan Estimate form. Different versions of the
disclosure are used for different types of loans. For example, one version is used for fixed
rate loans for a property purchase and a different one is used for an adjustable rate loan
for a property refinance. The applicable form for the loan is automatically applied when
printed. The data on this screen is populated from the corresponding fields on the Good
Faith Estimate, Fees Worksheet, and Truth-In-Lending screens.
Most of the fields on the Loan Estimate are read-only and are populated from fields on
other screens.
Important
You must open the Loan Estimate screen before printing the form to
populate the fields on the form.
Completing the Loan Estimate
To complete the Loan Estimate:
1
Point User Guide
Open a prospect or borrower file.
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2
Open the Loan Estimate from the Forms menu or the shortcut toolbar.
3
Enter or edit the Date Issued.
4
Review the data to ensure accuracy.
5
Edit the data as needed. Refer to the mapping tables for field sources.
6
Scroll to the Confirm Receipt section.
7
Select the Confirm Receipt check box to include a signature line on the printed form.
If the check box is not selected, a line for the borrower’s signature is not included on
the printed form.
Related information
•
For more information about the screens from which the fields are
populated, refer to Good Faith Estimate, on page 180,
Completing the Fees Worksheet, on page 180, and Truth-InLending Disclosure Statement, on page 223.
•
For field-to-field mapping information, refer to Field mapping
tables, on page 216.
Field mapping tables
The Loan Estimate fields are populated as shown in the following tables.
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Loan Estimate
Loan Estimate
Mapped from
Section/Field
Screen
Section/Fields
Date Issued
Truth-In-Lending
Fees Worksheet
Disclosed Date
Estimated First Payment Date
Fees Worksheet
1st Payment Date
Applicants
Names
Address
Borrower Information
Loan Application, Page 1
Borrower/Co-Borrower
Mailing Address
Property
Borrower Information
Subject Property
Sales Price
Loan Application, Page 1
Purchase Price
Est, Prop Value/Appraised Value
Borrower Information
Appr. Value
Loan Term
Borrower Information
Loan Summary, Term/Due
Purpose
Borrower Information
Loan Summary
Product
Truth-In-Lending
Summary of combination of fields
Loan Type
Borrower Information
Loan Summary
Loan ID
Loan Application, Page 1
Lender Case No
Rate Lock
Good Faith Estimate
Rate Lock Period
Lock Expires
Good Faith Estimate
Interest Rate Available Through
Cost Expires
Good Faith Estimate
Estimate Available Through
Loan Terms
Point User Guide
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Loan Estimate
Mapped from
Field
Screen
Section/Field
Loan Amount
Good Faith Estimate
Summary of Loan
Total Loan Amount
Can this increase?
Good Faith Estimate
Summary of Loan
Even if payments are made on time,
can the Loan Balance rise? check box
Interest Rate
Good Faith Estimate
Summary of Loan
Initial Interest Rate
Can this increase?
Good Faith Estimate
Summary of Loan
Can the interest rate rise?
Monthly P & I
Good Faith Estimate
Summary of Loan
Monthly Payment
Can this increase?
Good Faith Estimate
Summary of Loan
Even if payments are made on time,
can the Monthly Principal, Interest,
and MI rise? check box
Prepayment Penalty
Truth-In-Lending
Prepayment
Balloon Payment
Good Faith Estimate
Summary of Loan
Loan has a Balloon Payment check
box
Projected Payments
Loan Estimate
Mapped from
Section/Field
Screen
Principal & Interest
Truth-In-Lending
Payment Schedule
Mortgage Insurance
Truth-In-Lending
Payment Schedule
Estimated Escrow
Fees Worksheet
9. Initial Deposit for Your Escrow
Account items that contain a value
for the number of months to collect.
Estimated Total Monthly
Payment
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Section/Field
Calculated field.
Estimated Taxes, Insurance, and
Assessments
Loan Application, Page 2
Monthly Housing Expenses
Estimated Prop Value/Appraised
Value
Borrower Information
Loan Summary
Appr Value
Calyx Software
Disclosures
Loan Estimate
Mapped from
Section/Field
Screen
Section/Field
This Estimate Includes
Loan Application, Page 2
Monthly Income and Combined
Housing Expense Information
Monthly Housing Expenses
In escrow
Fees Worksheet
9. Initial Deposit for Your Escrow
Account items
Fees
Loan Estimate
Point User Guide
Mapped from
Section/Field
Screen
Section/Field
A. Origination Charges
Good Faith Estimate
Origination Charge
B. Services You Cannot Shop For
Good Faith Estimate
3. Required Services Select by
Mortgage Company
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Loan Estimate
Mapped from
Section/Field
Screen
Section/Field
C. Services You Can Shop For
Good Faith Estimate
4. Title Services and Lender’s Title
Insurance
5. Title--Owner’s Title Insurance
6. Required Services That Borrower
Can Shop For
E. Taxes and Other Government
Fees
Recording Fees and Other Taxes
Transfer Taxes
Good Faith Estimate
7, Government Recording Charges
8. Transfer Taxes
F. Prepaids
Homeowner’s Insurance
Premium
Mortgage Insurance
Prepaid Interest
Property Tax
Good Faith Estimate
10. Daily Interest Charges
11. Homeowner’s Insurance
G. Initial Escrow Payment
Homeowner’s Insurance
Premium
Mortgage Insurance
Prepaid Interest
Property Tax
Good Faith Estimate
9. Initial Deposit in Escrow Account
H. Other
Fees Worksheet
Total Estimated Settlement Charges
Not Included on GFE
I. Total Other Costs
Loan Estimate
The sum of sections E, F, G, and H
J. Total Closing Costs
Loan Estimate
The sum of all closing costs (A
through H)
Calculating Cash to Close
Loan Estimate
Section/Field
Mapped from
Screen
Section/Field
Total Closing Costs (J)
Loan Estimate
The sum of all closing costs (A
through H)
Closing Costs Financed
Fees Worksheet
Total of all fees that have the
Financed indicator selected
Funds from Borrower
Fees Worksheet
Loan Amount subtracted from
Purchase Price
Purchase
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Loan Estimate
Section/Field
Mapped from
Screen
Section/Field
Deposit
Fees Worksheet
Total Estimated Funds Needed to
Close
Cash Deposit fees (Line L)
Funds for Borrower
Loan Application, Page 4
Details of Transaction
Cash from/to Bor—a negative value
indicates an overpayment which the
borrower is to receive
Seller Credits
Fees Worksheet
Total Estimated Funds Needed to
Close
CC paid by seller (Line K)
Adjustments and Other Credits
Fees Worksheet
Closing Costs & Prepaid Items
Summary
Paid by Broker
Paid by Lender
Paid by Other
Loan Amount
Borrower Information
Loan Summary
w/MIP, FF
Estimated Total Payoffs and
Payments
Loan Application, Page 3
Sum of liabilities with the Will be
paid off check box selected.
Non-Purchase
Estimated Cash to Close
Calculated
Estimated Closing Cost Financed
Calculated
* not applicable for purchase loans
Adjustable Payment (AP) Table
Loan Estimate
Mapped from
Section/Field
Screen
Section/Field
Interest Only Payments?
Truth-In-Lending
Payment Adjustments
Interest Only during Initial Pmt Rate
Period
Optional Payments?
Truth-In-Lending
Optional Payment
Step Payments?
Truth-In-Lending
Graduated Payment Mtg
Years
Seasonal Payments?
N/A
Monthly Principal and Interest
First Change/Amount
Point User Guide
Truth-In-Lending
Payment Adjustments
Initial Pmt Rate Period ___ mths
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Loan Estimate
Section/Field
Subsequent Changes
Mapped from
Screen
Section/Field
Truth-In-Lending
Payment Adjustments
Adj Period
Maximum Payment
Calculated
Adjustable Interest Rate (AIR) Table
Loan Estimate
Mapped from
Section/Field
Screen
Section/Field
Index + Margin
Truth-In-Lending
Rate Adjustments
Margin
Index Type
Index
Step Rate (Increases in Interest
Rate)
Truth-In-Lending
Buydown Mortgage
Initial Interest Rate
Truth-In-Lending
Higher value of:
Loan Information, Note Rate
Rate Adjustments, Margin + Index
Minimum Interest
Truth-In-Lending
Rate Adjustments
Floor
Maximum Interest Rate
Truth-In-Lending
Rate Adjustments
Life Cap
First Change
Truth-In-Lending
Rate Adjustments
1st Change
Subsequent Changes
Truth-In-Lending
Rate Adjustments
Adj Period __ mths
First Change
Truth-In-Lending
Rate Adjustments
1st Adj Cap
Subsequent Changes
Truth-In-Lending
Rate Adjustments
Adj Cap
Change Frequency
Limits on Interest Rate Change
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Comparisons
Loan Estimate
Mapped from
Section/Field
Screen
Section/Field
In 5 Years
Truth-In-Lending
Payment Schedule
Loan Costs
Truth-In-Lending
Payment Schedule
Principal Paid
Truth-In-Lending
Payment Schedule
APR
Truth-In-Lending
Payment Schedule
APR
TIP
Truth-In-Lending
Payment Schedule
TIP
Other Considerations
Loan Estimate
Mapped from
Section/Field
Screen
Section/Field
Assumptions
Truth-In-Lending
Assumption
Late Payment
If a payment is more than ___
days late
You will be charged
Truth-In-Lending
Late Charge
Servicing
Truth-In-Lending
Servicing
Truth-In-Lending Disclosure Statement
The Truth-In-Lending disclosure is used to calculate payments, disclose the interest
rate and payments, and record any additional parameters that are associated with the
subject loan. The data on this screen is also used to populated the Loan Estimate.
Point User Guide
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Disclosures and other forms
The following buttons, located at the bottom of the workspace, provide additional
functionality:
Calculate
Click the Calculate button to calculate the finance charges and payment schedule
based on data that was entered in the Prepaid Fin Charge field in the Payment
Schedule section.
Monthly Sch
Use the Monthly Sch button to view the amortization schedule based on the data
in the Truth-in-Lending screen. The amortization schedule also includes the
payment schedule for the USDA fee for USDA loans.
Pmt Summary
Click the Pmt Summary button to view the payment summary table of potential
interest rate and monthly payment changes during the life of the loan.
Form 1098
Opens the Tax Information (1098) screen for reporting interest, points, and
mortgage insurance paid by the borrower.
Section 32
Click the Section 32 button to open the Truth-In-Lending (Section 32)
screen. This screen informs borrowers of the loan amount, the annual percentage
rate, and their monthly payments. This disclosure is required for high cost loans.
ARM Disclosure
Click the ARM Disclosure button to open the ARM Disclosure screen.
QM
Opens the Qualified Mortgage Reporting interface. This function sends data from
the current loan to LoanScoreCard to evaluate the loan according to QM
standards and returns a report.
In addition to the original Truth-in-Lending (2010), two 2011 printable forms are available.
The default Truth-In-Lending form is used for most loans. A Truth-In-Lending for Credit
Sale is also available for loans for homes in foreclosure.
Related information
•
For information about the ARM Disclosure (Initial) screen, refer
to Initial ARM Disclosure statement, on page 210.
•
For information about completing the Truth-In-Lending (Section
32) screen, refer to Completing the High Cost Loan Disclosure
(Truth-In-Lending Section 32), on page 232.
Completing the Truth-In-Lending Disclosure
To complete the Truth-In-Lending screen:
1
224
Open a prospect or borrower file.
Calyx Software
Disclosures
2
Open the Truth-in-Lending screen from the Forms menu or the shortcut toolbar.
If you have already completed the Borrower Information screen, Loan
Application, and Fees Worksheet, most of the information is automatically
populated.
3
To populate this screen from a loan program template, click the Loan Program button
and select the loan program that you want to use.
4
Complete the following fields if not populated from the loan program template:
5
a
Enter the Date Prepared and the First Payment Date.
b
Enter the Disclosed APR and the date it was disclosed in the corresponding fields.
c
Select the method the information was delivered from the Disclosed Method
dropdown list.
d
Complete the Re-disclosed Date, Re-disclosed APR, and Re-disclosed Method
fields if the APR changes and is re-disclosed to the borrower.
Enter the Average Prime Offer Rate and the date it became effective in the Higher
Priced Mortgage Loan section.
Tip
Click the Average Prime Rate Offer link to access a link to the latest APRO
table.
Point User Guide
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Disclosures and other forms
6
Complete the Loan Information section.
a
If the loan is an interest-only loan, complete the Interest Only __mths field.
b
If you have entered the note rate, check the Qualify Ratios at the Interest Only
Payment check box if you do not want the top and bottom ratios to be based on
the interest and principal amount of the note rate.
Attention
The Qual Rate supersedes the Note Rate when both values are entered.
If you have entered the qual rate, check the Qualify Ratios at the Interest Only
Payment check box to base the top and bottom ratios on the interest-only amount
of the qual rate (not the note rate).
If you have entered the qual rate and do not check the Qualify Ratios at the
Interest Only Payment check box, the top and bottom ratios are based on the
interest and principal amount of the qual rate (not the note rate).
c
7
Select the Bi-Weekly Pmt Schedule check box to indicate bi-weekly payments.
In the ARM Rounding Options section, enter the amount that the rate is to be rounded
to in the Rate field. Select the applicable check box to specify if the rate is to round up
to the nearest point, or down.
If this information was entered in the ARM Disclosure (Initial) screen, it is
automatically populated. If this information is entered or changed in the Truth-in-
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Lending screen, the ARM Disclosure (Initial) screen is re-populated with the
updated information.
8
Complete the Payment Schedule section.
The Payment Schedule section provides details for each time the payment is
scheduled to change over the course of the loan.
The Prepaid Fin Chg, Amount Finances, APR, and Extra Payment field links open
dialog boxes that contain detailed information related to the loan.
a
Select the Do not extend loan term by “Odd Days” check box to set the odd days
number used in the APR calculation to zero and then recalculate the APR. To
include the odd days in the final APR calculation, leave the check box unchecked.
Attention
The Do not extend loan term by “Odd Days” check box is enabled only
when certain conditions in the loan that are based on the loan term and
the length of the first period are met. If this check box is not enabled, it is
not applicable to this loan.
Point User Guide
b
To manually add or edit payments in the payment schedule, select the Customize
Payment Schedule check box to enable the fields.
c
To add a regularly scheduled principal payment to the amortization schedule,
enter the amount and the frequency in the Extra Payment fields.
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9
Complete the Rate Adjustments section.
Attention
For negative amortization loans, leave the 1st Adj Cap and Adj Cap fields
blank.
The Floor field is optional.
The Alt. Index field is used for certain loans in New York and Rhode
Island.
If this information was entered in the ARM Disclosure (Initial) screen, it is
automatically populated. If this information is entered or changed in the Truth-inLending screen, the ARM Disclosure (Initial) screen is re-populated with the
updated information.
10 If the loan is a negative amortization loan, complete the Payment Adjustments
section.
If this information was entered in the ARM Disclosure (Initial) screen, it is
automatically populated. If this information is entered or changed in the Truth-inLending screen, the ARM Disclosure (Initial) screen is re-populated with the
updated information.
Select the Calculate Qual Ratios at the Max Adjusted Loan Balance check box to
calculate the debt-to-income ratios on the amount in the Max Balance field.
11 In the Buydown Mortgage section, select the buydown type from the dropdown menu
and complete the Term (mths) field.
The Rate fields are populated with the values based on the selected buydown type.
12 In the Graduated Payment Mortgage (GPM) section, enter the number of years and
the rate. The initial GPM payment is lower but will increase for a set period of time and
eventually level off when the payments are enough for the mortgage to fully amortize.
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13 Complete the Mortgage Insurance section.
Note
The mortgage information in this section corresponds to the mortgage
insurance information on the Fees & Impounds screen and in the
PMI/MIP/FF/USDA dialog box.
a
Select the mortgage insurance rate for the initial period from the PMI/MIP/VA/
USDA dropdown list.
To enter the value manually, click the lock box to enable the Monthly Amount
field.
b
Enter the number of months that the initial rate is effective in the mths field.
The amount is calculated and automatically populated in the Proposed Monthly
Housing Expenses section on page 2 of the Loan Application, the Mortgage
Insurance field on the Truth-in-Lending Disclosure, and line item 10, Daily
Interest Charges on the GFE.
c
If the mortgage insurance rate changes after the initial period, select the renewal
rate from the PMI Renewal 1 and if applicable, the PMI Renewal 2, dropdown lists.
Note
The values for the PMI rate dropdown lists are defined in the dropdown
list utility (Utilities > Dropdown Lists > Mtg Insurance).
Enter the number of months that the renewal rates are effective in the mths fields.
d
If the mortgage insurance policy is to end when the loan amount reaches a
specific LTV percentage, enter that amount in the Cancel at ___% field.
If you enter a value for both the for ___ months and the Cancel at fields, the
mortgage insurance ends at whichever one occurs first.
Point User Guide
e
To calculate the insurance based on the balance of the loan, select the Calculate
based on remaining balance check box. When this box is selected, it does not
affect the monthly mortgage insurance that is disclosed in the rest of the loan file.
f
To cancel the insurance halfway through the mortgage term, select the Midpoint
payment cancellation check box.
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g
Select an option from the Calculate Based On dropdown list:
•
To calculate the premium based on the appraised value of the property, select
Appraisal Val.
•
To calculate the premium based on the loan amount, select Loan Amount.
•
To calculate the premium based on the sale price of the property, select Sales
Price.
Note
If the Calculate Based on Remaining Balance check box is selected, the
Calculate Based On dropdown list is disabled and the selection defaults
to Loan Amount.
14 Select the appropriate check boxes to indicate whether the mortgage has a required
deposit, demand feature, or variable rate feature.
Consult your lender or investor with questions regarding the Required Deposit,
Demand Feature, Variable Rate Feature, and other check boxes.
15 Complete the loan term information.
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16 Complete the remainder of the screen.
a
In the Escrow Account Information section, select the check boxes that apply to
the escrow account for the loan.
b
In the Servicing section, select the check box that applies to the servicing of the
loan.
c
In the Liabilities after Foreclosure section, select the applicable check box to
indicate whether the borrower is protected upon foreclosure of the loan.
d
Select the applicable check boxes below the See your contract documents...
statement.
17 Click Calculate to populate the payment schedule and save the file.
18 Click the Pmt Summary button to open the Payment Summary table.
The Payment Summary table shows how the interest rate and payment summary
section will print on the Truth-In-Lending form.
The information presented in the Payment Summary depends on the loan data
entered in the Truth-In-Lending screen. Depending on the specific loan you are
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processing, columns will change dynamically. For example, a fixed rate loan contains
only one column, Rate & Monthly Payment. However, an adjustable rate loan contains
two additional columns, Maximum during the first five years and Maximum Ever. For
all loans except negative amortizing loans, which contain three rows, the Payment
Summary contains a minimum of four rows:
•
•
•
•
Interest Rate
Principal + Interest
Est. Taxes + Insurance (Escrow)
Total Est. Monthly Payment
A fifth row is included for interest-only loans to display principal and interest
separately.
The following fields can change the data in the Payment Summary:
•
•
•
•
•
•
•
•
•
•
•
Loan Amount
Note Rate
Interest Only
Bi-weekly
Rate adjustment for ARM loans
Payment adjustments for negatively amortizing loans
Buydown
Graduated Payment Mortgage (GPM)
PMI/MIP
Escrows
First Payment Date
Make changes to any of these fields to adjust the table outcome.
Related information
•
Refer to Printing and previewing forms, on page 126, for
information about printing the USDA Fee Schedule.
•
Refer to Loan Application, on page 137, Good Faith Estimate, on
page 180, Loan Estimate, on page 215, andBorrower and
prospect information screens, on page 253 for information about
these screens.
•
For more information about the Initial Arm Disclosure and
completing the Rate Adjustments and Payment Adjustments
sections, refer to Initial ARM Disclosure statement, on page 210.
•
For more information about calculating mortgage insurance and the
PMI/MIP/FF/USDA dialog box, see Calculating mortgage
insurance, funding fees, and USDA fees, on page 285.
•
For more information about creating loan program templates, see
Loan program templates, on page 611.
•
Refer to Amortization schedules, on page 701, for information
about using the Amortization Schedule screen.
Completing the High Cost Loan Disclosure (Truth-In-Lending Section 32)
When a transaction is subject to Regulation Z Section 32 disclosure requirements, you
must give borrowers the High Cost Loan Disclosure three business days prior to
closing.
This screen is used to inform borrowers of the amount of the loan, the annual percentage
rate, and their monthly payments.
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To complete the High Cost Loan Disclosure:
1
Open a prospect or borrower file.
2
Open the Truth-in-Lending (Section 32) screen from the Forms menu, the
shortcut toolbar, or click the Section 32 button in the Truth-in-Lending screen.
Most of the values on this form are prepopulated.
3
Verify that the values are correct and save the file.
State-specific disclosures
Several state-specific forms are provided with Point. These include:
•
•
•
•
•
•
•
Application Log (NY)
Brokerage Contract (FL)
CA Fair Lending Notice Disclosure (CA)
Lender Disclosure (FL)
Texas Mortgage Disclosures (TX)
Mortgage Loan Disclosure Statement (CA)
Pre-Application Disclosure (NY)
Some of the state disclosure forms require no input, therefore, an interface is not provided
for those forms.
Access the state disclosure forms that require input from the Forms > State Disclosures
menu or the shortcut toolbar. Access the print-only forms from the Forms tab in the
Borrower Forms dialog box.
Related information
For information about printing forms, refer to Printing and previewing
forms, on page 126.
Application Log (NY)
The state of New York requires that bankers and brokers use this log to record fees paid
for the current transaction.
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To complete the New York Application Log, enter the fees, the date paid, and who
received the payment as stated on the form.
Brokerage Contract (FL)
When processing Florida loans, check with your legal counsel to determine if you must
complete the Brokerage Contract. The Mortgage Brokerage Contract for Florida explains
the rights and obligations of the borrower and the mortgage brokerage acting on behalf of
the borrower to ensure a loan commitment.
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CA Fair Lending Notice Disclosure (CA)
The Fair Lending Notice is a disclosure notice to borrowers based on the Housing
Financial Discrimination Act of 1977.
It discloses to borrowers that is illegal to discriminate on financial assistance, based on the
following criteria:
•
•
•
•
•
•
Neighborhood characteristics
Neighborhood conditions
Race
Ethnicity
Religion
National origin
Refer to the form for the exact wording. The applicant’s name and property information is
populated from other forms in the borrowers’ file, and prints on this disclosure. The name
and address of the local agency responsible for enforcing the Discrimination Act is taken
from the defaults that you set up in the Utilities menu.
Related information
For more information about setting the Fair Lending defaults, see
Specifying the CA Fair Lending address, on page 31.
California Mortgage Loan Disclosure Statement
The Mortgage Loan Disclosure Statement (MLDS) is the California state disclosure
statement. Point contains two MLDS screens: one for traditional loans (882 and 883) and
one for non-traditional loans (885). Enter the loan information into the appropriate screen
for the type of loan you are processing. When the form is printed, Point retrieves the data
and populates each page with the necessary information. By using these forms, you
satisfy the federal and the state disclosure requirement.
Completing the CA MLDS Traditional — 882 and 883
The Mortgage Loan Disclosure Statement, CA MLDS Traditional — 882 and 883 is the
California state disclosure statement for traditional loans. One screen in Point is used to
generate the content for both forms.
To complete the Mortgage Loan Disclosure Statement for a traditional loan:
1
Point User Guide
Open a prospect or borrower file.
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2
Open the CA MLDS Traditional — 882 and 883 from the Forms menu or the
shortcut toolbar.
The Lender and Initial Commissions, Fees, Costs, and Expenses fields are automatically
populated from the Fees Worksheet.
The Alterations and Land fields are populated from input in those fields on page 4 of
the Loan Application. The Purchase/Payoff field is automatically populated with the
purchase price if the loan is for a purchase. If the loan is a refinance, the field is
populated with the amount to be paid off, including debts and liabilities marked to be
paid from the Loan Application.
3
The fields in the General Information section are populated from page 1 of the Loan
Application if the information was entered there. If not, enter the information here.
4
Complete the Balloon Payment section.
If the loan has a balloon payment, select the Balloon check box.
The Final Balloon Pmt field is automatically populated. If the 1st Pmt Date field is
completed on the Fees Worksheet, the Estimated Due Date field is also
automatically populated.
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5
Complete the Prepayment Information section.
•
If the loan has no prepayment penalty, select No prepayment penalty.
•
If the loan is paid off or refinanced earlier than a specified number of years, select
Has a prepayment penalty and enter the following information:
–
–
–
6
Point User Guide
the number of years that must pass before the loan can be paid without
incurring a penalty
the maximum amount of the penalty if the loan is paid off early
select the check box if the loan has a prepayment penalty for paying in excess
of 20% of the original or unpaid balance
Complete the Taxes and Insurance section.
a
If the monthly loan payment will include an impound account payment, select the
first option.
b
If an impound account is not established and if the borrower is making some
payments directly, select the second option.
c
Select the check boxes for the fees that the borrower is paying directly.
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7
Complete the Other Liens section.
a
In the liens current on this property for which the borrower is obligated, enter the
nature of the lien, the lien priority, the lien holder’s name, and the amount owed.
b
In the liens that will remain against the subject property fields section, enter the
nature of the lien, the lien priority, the lien holder’s name, and the amount owed for
liens that will remain after the loan is closed.
8
Specify whether the loan is based on limited or no documentation.
9
Select the may, will, or will not check box to indicate whether the loan is being
funded with broker-controlled funds.
10 Complete the Name of Broker, Broker’s Representative, and both License # fields.
Attention
If you completed the Company Information defaults in the Point Utilities
menu and selected Broker as the I conduct business as a check box
option, the broker information is automatically populated and the This
MLDS is being provided by Broker check box is automatically selected
and disabled.
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Tip
To avoid repetitive entry, use a master template to populate these fields
automatically.
11 Select File > Save.
Related information
•
For information about setting the company information defaults,
refer to Entering default company and processing center
information, on page 28.
•
For information about how to indicate in the Loan Application that
liabilities are to be paid, refer to Entering liabilities, on page 151.
•
For information about the Fees Worksheet, refer to Completing
the Fees Worksheet, on page 180.
Completing the CA MLDS Non-Traditional — 885
The Mortgage Loan Disclosure Statement, CA MLDS Non-Traditional — 885 is the
California state disclosure statement for non-traditional loans. The non-traditional
Mortgage Loan Disclosure Statement is used for loans with monthly payments that are
less than the principal and interest payment, such as interest-only or negative amortization
loans. It contains several loan scenarios to provide the borrower with information to make
comparisons.
The following buttons, located at the bottom of the workspace, provide additional
functionality:
Calculate
Use the Calculate button to calculate the Payment Scenarios and Loan Balance
Scenario sections.
Monthly Sch
Use the Monthly Sch button to view the amortization schedule based on the data
in the Truth-in-Lending screen.
To complete the Mortgage Loan Disclosure Statement for a non-traditional loan:
1
Point User Guide
Open a prospect or borrower file.
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Disclosures and other forms
2
Open the CA MLDS Non-Traditional — 885 for non-traditional loans from the
Forms menu or the shortcut toolbar.
The Lender and Initial Commissions, Fees, Costs, and Expenses fields are automatically
populated from the Fees Worksheet.
The Alterations and Land fields are populated from input in those fields on page 4 of
the Loan Application. The Purchase/Payoff field is automatically populated with the
purchase price if the loan is for a purchase. If the loan is a refinance, the field is
populated with the amount to be paid off, including debts and liabilities marked to be
paid from the Loan Application.
3
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Select Fixed Rate or ARM to specify the loan type.
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4
Complete the Interest Rate, Loan Amount, w/MIP,FF, and Loan Term fields if they are
not already populated. Use the Mth Pmt button to open the Monthly Payment
Settings dialog box to make any additional payment or rate adjustments.
5
Complete the Initial Adjustable Rate in effect and Interest Rate can Increase fields.
These fields are automatically populated when the corresponding fields in the TruthIn-Lending screen or the Monthly Payment Settings dialog box are completed.
6
If the payment options apply and will end after a percentage of the original balance
exceeds a certain percentage, complete the appropriate fields.
These fields are automatically populated when the corresponding fields in the TruthIn-Lending screen or the Monthly Payment Settings dialog box are completed.
7
Click Calculate to populate the read-only fields.
Tip
The Calculate button is located on the command bar at the bottom of
the workspace.
8
If the loan has a balloon payment, select the Balloon check box.
The Final Balloon Pmt field is automatically populated. If the 1st Pmt Date field is
completed on the Fees Worksheet, the Estimated Due Date field is also
automatically populated.
9
Select one of the following options in the Prepayments section:
•
•
Point User Guide
If the loan has no prepayment penalty, select the No prepayment penalty option.
If the loan is paid off or refinanced before a specified number of years, select the
Prepayment penalty option and enter the following information:
– the number of years before the loan can be paid without incurring a penalty
– the amount of the penalty of the loan is paid off early
– whether the penalty is assessed on the unpaid loan balance or the original
loan balance
– the maximum number of months of interest the penalty cannot exceed
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•
If there is a prepayment penalty, but it does not conform to the scenario described
in the Prepayment penalty option, select the Other option and enter the details of
the penalty.
10 Complete the Taxes and Insurance section.
a
If the monthly loan payment will include an impound account payment, select the
first option.
b
If an impound account is not established or if the borrower is making some
payments directly, select the second option.
c
Select the check boxes for the fees that the borrower is paying directly.
The annual total of borrower-paid fees is automatically calculated.
11 Complete the Liens Currently on Borrower’s Obligated Property and Liens that May
Remain on Property After Loan sections.
242
a
In the Liens Currently on Borrower’s Obligated Property section, enter the lien
holder’s name, the amount owed, and the priority of any liens against the property
(excluding the subject loan).
b
In the Liens that May Remain on Property After Loan section, enter the lien
holder’s name, the amount owed, and the priority of any liens against the property
that can remain after the loan is closed.
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12 Select may, will, or will not to indicate if the loan is being funded with brokercontrolled funds.
13 If the loan is based on limited or no documentation of the borrower’s income, select
the corresponding check box.
14 Complete the Payment Scenarios section.
a
If you do not offer one or more of the products or scenarios listed, select the Not
offered check boxes for those products and read and sign the statement on the
printed form.
b
Point User Guide
If you received the loan information for products you do not offer from a reliable
source, select the The information provided... check box.
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Disclosures and other forms
c
Click Calculate to populate the payment scenarios.
Requirement
The Loan Amount, Interest Rate, and Term fields must be completed
before you click Calculate; otherwise an error will occur during the
calculation.
d
To override the values that were automatically calculated for the proposed loan
fields, click the lock box in the Proposed Loan column.
i
Calculate the minimum monthly payment for the first five years of the loan and
enter the value in the corresponding proposed loan field.
ii
Calculate the monthly payment in the sixth year of the loan, with no rate
change, and enter the value in the corresponding proposed loan field.
iii Calculate the minimum monthly payment and enter the value in the
corresponding proposed loan field.
e
f
Manually calculate and enter the proposed loan payments for the following
scenarios:
i
Calculate the monthly payment in the sixth year of the loan, with a 2% rate
increase, and enter the value in the corresponding field.
ii
Calculate the monthly payment in the sixth year of the loan, with a 5% rate
increase, and enter the value in the corresponding field.
If any scenarios require additional information, enter an explanation in the
Explanation field.
15 Complete the Loan Balance Scenarios section.
The Loan Balance Scenarios section shows how much the loan balance increased or
decreased for each scenario after five years.
To override the value for the proposed loan, click the lock box to enable the field and
enter the new value.
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16 Complete the Name of Broker, Broker’s Representative, and both License # fields.
Attention
If you completed the Company Information defaults in the Point Utilities
menu and selected Broker as the I conduct business as a check box
option, the broker information is automatically populated and the This
MLDS is being provided by Broker... check box is automatically
selected and disabled.
Tip
To avoid repetitive entry, use a master template to populate these fields
automatically.
17 Select File > Save.
Related information
•
For information about setting the company information defaults,
refer to Entering default company and processing center
information, on page 28.
•
For information about how to indicate in the Loan Application that
liabilities are to be paid, refer to Entering liabilities, on page 151.
•
For information about the Fees Worksheet, refer to Good Faith
Estimate, on page 180.
Lender Disclosure (FL)
The Florida Lender Disclosure explains if any application, credit reporting, appraisal, or
other fees are refundable to the borrower. It also lists any obligations that the lender has to
the borrower.
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The borrower’s name, property address, file name, and the date are populated from the
Borrower or Prospect Information screens.
Pre-Application Disclosure (NY)
When a transaction is subject to Reg Z Section 32 disclosure requirements, you must
provide this disclosure to New York-based borrowers, with other required disclosures,
three business days prior to closing.
Texas mortgage disclosures
The Texas Mortgage Disclosures screen is used to generate the following Texas
disclosures.
•
•
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Texas Mortgage Company Disclosure
Texas Mortgage Banker Disclosure
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The Texas Mortgage Company Disclosure clarifies the relationship between the loan
originator and the borrower. The Texas Mortgage Banker Disclosure informs the borrower
of their right to file a complaint and instructions about how to do so. It also records how the
disclosure was delivered to the borrower.
To complete the Texas Mortgage Disclosures screen:
1
Open a prospect or borrower file.
2
Open the Texas Mortgage Disclosures screen from the Forms menu or the
shortcut toolbar.
3
Select a loan originator from the Originator dropdown list if one is not already
selected.
The NMLS ID field is populated when the originator is selected if their NMLS ID is
configured in Utilities > Dropdown Lists > Originator....
4
Complete the Texas Mortgage Company Disclosure section.
Note
The Texas Mortgage Company Disclosure is the default disclosure when
printed.
5
Point User Guide
a
In the Duties and Nature of Relationship section, select the applicable check
boxes that apply to the duties and nature of your relationship to the borrower. Use
the blank section to add additional information.
b
In the How We Will Be Compensated section, select the applicable check boxes to
indicate how you will be paid and how your pricing is based.
Complete the Texas Mortgage Banker Disclosure section.
a
Select the check box to indicate the method that the disclosure was delivered to
the consumer.
b
Enter the date that the disclosure was delivered.
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6
Click Save.
Related information
For more information about configuring loan originator dropdown lists
with their NMLS IDs, refer to Creating the originator dropdown list,
on page 73.
Other disclosures
Affiliated Business Disclosure
The Affiliated Business Disclosure provides the names of the settlement service providers
and the charges for the services they provide.
Credit Score Information Disclosure
The Credit Score Information Disclosure informs borrowers and co-borrowers of the
following information:
•
•
•
•
Their credit score that was distributed by the credit bureau in connection with the
loan
The range of possible credit scores for the agency
Where their score ranks compared to other U.S. consumers
The key factors that affected the score
To complete the Credit Score Information Disclosure:
1
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Open a borrower or prospect file.
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2
Open the Credit Score Information Disclosure (Forms > Credit Score
Disclosure).
If credit was not yet requested for this loan file, the disclosure screen fields are empty.
3
Retrieve credit for the borrower and co-borrower by using the Point Services interface
(Services > Credit Reports > Request Credit).
The fields are populated with the borrower credit information in the top portion of the
screen and the co-borrower credit information in the bottom of the screen from the
three major credit reporting agencies.
4
Select which credit reporting information to disclose to the borrowers by selecting
Highest, Middle, or Lowest from the Disclose the ...Credit Score dropdown list at the top of
the screen.
Selecting one of these options indicates that the information from the credit reporting
agency with the highest, middle, or lowest credit score is to be included on the actual
disclosure.
This score will be disclosed is noted next to the selected report to indicate that is the
score that will be disclosed to the borrower.
The default selection is Middle.
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You can change the data on the screen, except the credit score, at any time by manually
entering different data.
Related information
Refer to Requesting services, on page 430, for information about
requesting credit.
Disclosure notices
Disclosure notices is actually a group of forms that contain the following:
•
•
•
•
Affidavit of Occupancy
Anti-Coercion Statement
Fair Credit Reporting Act
Right to Financial Privacy Act
The Applicants and Property Address sections retrieve information from the Borrower
Information screen.
These notices are available to print only from a borrower file by selecting File > Print and
selecting the Forms tab from the Borrower Forms dialog box.
Equal Credit Opportunity Act
This form discloses to the borrowers that, according to the Federal Equal Credit
Opportunity Act, they do not have to disclose income from alimony, child support, or any
separate maintenance payment. The borrower’s name and property information flows
from other forms in their file and will automatically print on this disclosure.
This form has no input screens. It is available to print only from a borrower file by selecting
File > Print and selecting the form from the Borrower Forms dialog box.
Flood Insurance Disclosure
This form is print-only with no input screens. All pertinent information is populated from
other screens, which should be completed before you attempt to print the form.
It is available to print from a borrower file by selecting File > Print, and selecting the Forms
tab from the Borrower Forms dialog box.
HELOC
The Home Equity Line of Credit (HELOC) screen discloses the costs and fees
associated with a home equity line of credit loan.
To complete the Home Equity Line of Credit (HELOC) screen:
1
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Open a borrower or prospect file.
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2
Open the Home Equity Line of Credit (HELOC) screen.
3
Complete the Loan Information section.
a
Select the HELOC check box if the loan is a home equity line of credit.
Selecting this check box unchecks the loan type option that was selected on the
Borrower Information screen, Loan Application, and any other location
where loan type is specified, automatically selects the Other option on those
screens, and populates the Description field with HELOC.
If a different loan option is subsequently selected on one of those screens, the
HELOC and Other check boxes are unselected and the Description field is
cleared.
b
Enter the amount of the credit line in the Line of Credit field.
The Line of Credit field corresponds to the Loan Amount field on the Borrower
Information screen. Changes made to either field automatically update the
corresponding field.
c
Enter the amount that the borrower will take for their first draw in the Initial
Advance Amount field.
The Initial Advance Amount field corresponds to the Initial HELOC Draw field on
the Underwriting screen. Changes made to either field automatically updates
the corresponding field.
Point User Guide
d
Enter the minimum amount the borrower must initially withdraw from the credit line
in the Minimum Initial Advance field.
e
Enter the minimum amount that the borrower must withdraw from the credit line in
subsequent draws in the Minimum Draw Amount field.
f
Enter the Minimum Balance the borrower must maintain in the line of credit.
g
Enter the duration, in months, before the first rate change is to occur, in the Initial
Period field.
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h
Enter the duration, in years, that the funds are available to the borrower to draw
from, in the Draw Period field.
i
Enter the duration of the repayment period, in years, in the Repayment Period
field.
The Term (Draw + Repay), Initial Monthly Payment, and Draw Monthly Payment
fields are automatically calculated.
j
Enter the Initial Rate, Margin, Index, Max Rate, and Floor in the fields provided.
The APR on this screen is calculated by adding the Floor and the Index fields.
Information
The Initial Period field corresponds to the 1st Change field and the
Margin, Index, and the Floor fields correspond to their respective fields
on the Truth-In-Lending screen, Amortization Schedule, and
Monthly Payment Settings dialog box (accessible from the Good
Faith Estimate screen). Changes made to these fields on any of the
screens will update their respective fields in all locations.
4
Complete the Penalty Fees section by entering the applicable fees in the appropriate
fields.
INK-it Disclosure and Consent
The INK-it Disclosure and Consent form is used to obtain borrower and co-borrower
authorization and consent to receive documents electronically and sign using an
electronic signature.
This form has no input screens. It is available to print only from a borrower file by selecting
File > Print and selecting the form from the Borrower Forms dialog box.
Patriot Act Disclosures
To comply with the USA Patriot Act, Patriot Act disclosures are required to be completed
by all financial institutions.
The forms consist of:
•
•
•
•
Borrower Identification
Co-Borrower Identification
Organization Identification
Patriot Act Information Disclosure
Privacy Policy Disclosure
The Privacy Policy Disclosure is a generic print-only disclosure about customer
confidentiality that explains how information is gathered and with whom it is shared.
Servicing Disclosure Statement
The Servicing Disclosure Statement discloses to the borrowers their rights concerning
the possible transfer of their loan servicing.
Because the disclosure contains no specific information about the borrowers except their
names, which are populated from other forms, it has no input screens.
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When you print the disclosure, the default settings in the Utilities menu are automatically
included. It is available to print only from a borrower file.
Related information
To set defaults for the Servicing Transfer Disclosure Statement, see
Specifying default settings for the Servicing Disclosure statement,
on page 31.
Forms
Borrower and prospect information screens
The information screens contain general information about the borrower, subject property,
and loan type. When a loan file is opened in Point, the information screen is displayed
first. Information screens are used for prospects, borrowers, and co-borrowers. The
information is identical for each file type. However, the buttons on each screen differ,
depending on the file type.
The following buttons, located at the bottom of the workspace, provide additional
functionality:
Personal Info
The Personal Info button opens the Personal Information dialog box which is
used to enter personal data about the borrower and their family members.
Contact Info
The Contact Info button opens the Contact Information dialog box which is
used to manage your interactions with borrowers and prospects.
Mtg Insurance
The Mtg Insurance button opens the PMI/MIP/FF/USDA dialog box which is
used to calculate mortgage insurance fees for conventional and government
loans.
Sub Financing
The Sub Financing button opens the Subordinate Financing Information
dialog box which is used to enter second, third, and fourth mortgage information
for the subject property, and link the loan files.
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QM
Opens the Qualified Mortgage Reporting interface. This function sends data from
the current loan to LoanScoreCard to evaluate the loan according to QM
standards and returns a report.
Related information
•
Refer to Calculating mortgage insurance, funding fees, and
USDA fees, on page 285, for detailed information about the PMI/
MIP/FF/USDA dialog box.
•
For information about viewing and requesting credit reports, refer to
Credit reports, on page 446.
•
For information about generating a Qualified Mortgage report, refer
to LoanScoreCard QM findings, on page 494. For information
about the QM report output, refer to QM report information, on
page 1.
•
Refer to Documenting borrower and prospect personal
information, on page 697, for detailed information about the
Personal Information dialog box.
•
Refer to Client communication, on page 698, for detailed
information about the Contact Information dialog box.
•
Enter specific details about investment real estate in the Schedule of
Real Estate Owned section in the Loan Application. Refer to
Chapter 5, Loan Application, for more information.
•
Refer to Chapter 13, Loan scenarios, for detailed information about
the Subordinate Financing Information dialog box.
Completing the Borrower and Prospect Information screens
To complete the Borrower and Prospect Information screens:
1
254
Create a new borrower or prospect loan file.
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The information screen is displayed. A Borrower Information screen is used in the
following example.
2
Enter the borrower name, contact information, and address in the Borrower
Information section.
3
Enter the co-borrower information in the Co-Borrower section.
To copy the address and telephone from the borrower fields, click the Copy from
Borrower button.
4
Complete the Subject Property section.
Click the Copy From Present Address button to copy the present address.
5
Enter the borrower and co-borrower credit scores in the Credit Scores section.
Note
The credit scores are automatically populated when the borrower and coborrower credit reports are requested from the Services menu.
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6
Complete the Loan Summary section.
a
Click Loan Program to populate information into the loan file from a loan program
template, or enter the information manually.
b
Click CC Scenario to enter the closing costs from a closing cost scenario template,
or enter the information manually.
c
Enter your name in the Originator field, or select a name from the dropdown list.
d
Enter the processor name in the Processor field, or select a name from the
dropdown list.
Tip
You can create originator and processor dropdown lists by selecting
Utilities > Dropdown Lists.
e
Complete the loan type, property type, purpose, and lien position check boxes.
The following default options are preselected:
•
•
•
•
256
Conventional mortgage
Primary loan
Purchase
First mtg
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i
Specify whether the loan is Conventional, FHA, VA, USDA/RHS, or Other.
Important
If the loan is a home equity line of credit, select the HELOC check box on
the HELOC screen (Forms > HELOC). The Other check box is
automatically selected and the Description field on the Loan
Application is populated with HELOC.
ii
Specify whether the loan is for a Primary, Secondary, or Investment property.
If you select Investment, the Gross Rent and Occ Rate fields are enabled.
Enter the information as it applies to this property.
iii Specify whether the loan is for a Purchase, No Cash-Out Refi, Cash-Out Refi,
Construction, Construction-Perm, or Other.
If you select Other, the associated field is enabled. Enter the reason for the
loan in the field.
iv Specify the lien position, First Mtg or Second Mtg.
f
Complete the Note Rate and Term Due fields.
g
Enter the appraised value, sales price, and down payment of the property.
Attention
The down payment fields are also on the Loan Application, page 1.
You can enter the information on either screen. The down payment
sources are entered only on the Loan Application.
The Loan Amt field is automatically calculated.
The w/MIP, FF field is automatically calculated if an up-front mortgage insurance
premium or a funding fee is being added to the APR.
h
If the loan is an FHA loan, click the FHA Max Loan button to calculate the
maximum loan amount allowed by the FHA.
If a QM report was generated, the QM Finding and QM Date and Time fields are
populated with the relevant information.
7
Complete the Income Details section.
a
Enter the primary borrower’s monthly gross income in the Base Inc field.
If the borrower’s income is based on an annual, semi-monthly, bi-weekly, weekly,
or hourly rate, convert it to a monthly rate by using the monthly income calculator.
Click the Base Inc button to open the Monthly Income Calculator.
i
Select the period that the income in Amount field represents from the Period
dropdown list.
ii
Enter the gross amount that is earned for that period.
The Monthly Income field is populated with the calculated monthly amount.
iii Click OK to populate the Base Inc field.
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b
Enter the monthly income from Overtime, Bonuses, Commission, and Dividend.
Enter these values as averages (usually over two or three years).
Net Rent, if applicable, is calculated from property information that is entered in
the Schedule of Real Estate Owned.
c
Enter additional income in the Other field and in the Describe Other Income
section on the Loan Application.
d
Repeat the process for the co-borrower.
Tip
You can also enter income information on page 2 of the Loan
Application.
8
Complete the Expenses section.
The proposed first mortgage (First Mtg) payment is calculated and populated by Point
based on the values already entered.
If the lien position for the subject loan is Second, the First Mtg button is enabled for
you to enter that information. Point calculates the first payment for the subject loan.
a
If the borrower has a second mortgage or owns additional property, enter that
amount in the Other Fin field.
Tip
Set up standard tax and insurance formulas by using the dropdown list
utility (Utilities > Dropdown Lists).
Use the buttons that correspond to each field to select the formula to use to
calculate the proposed expense or click the lock box to enter the amount
manually.
b
Click the HazIns and Taxes buttons to select the formulas to use to calculate the
monthly hazard insurance and real estate tax expenses for the primary residence
or click the lock box to enter the amounts manually.
c
If the borrower must pay mortgage insurance, click the Mtg Ins button to open
and complete the PMI/MIP/FF/USDA dialog box.
d
If the property in the transaction requires homeowner association dues, enter the
monthly amount of the dues in the H O Assoc field.
Point computes both the present and the proposed expense totals.
e
Click Other to open the Other In Housing Expenses dialog box. Enter or
change the current values. To exclude an expense from the total expenses, click
the Excluded check box.
Tip
You can also enter monthly housing expenses on page 2 of the Loan
Application.
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9
Complete the Other Obligations section.
Liabilities that were previously entered in the Loan Application are automatically
populated here.
a
Enter the type of obligation in the first column.
b
Enter the monthly cost of the obligation in the second column.
c
To manually enter the negative cash flow in the Subj Prop and Other Prop fields,
click the Neg Cash Flow check box and enter the amounts in those fields.
Tip
To add more details about the liability, go to the Liabilities section on
page 3 of the Loan Application.
Related information
•
For information about how to customize dropdown lists, refer to
Dropdown lists, on page 71.
•
For information about how to create a new loan file, refer to Loan
file creation, on page 99.
•
For information about entering down payment sources, refer to
Entering property information and loan purpose, on page 140.
•
Refer to Entering income and housing expenses, on page 146,
and Entering assets and liabilities, on page 148, for detailed
information about entering income, housing expenses, and other
obligations.
•
For information about up-front premiums and fees, refer to
Calculating mortgage insurance, funding fees, and USDA fees,
on page 285.
•
For information about generating a Qualified Mortgage report, refer
to LoanScoreCard QM findings, on page 494. For information
about the QM report output, refer to QM report information, on
page 1.
•
See Chapter 16, Templates, for information about building loan
program and closing cost scenario templates.
Borrower’s Signature Authorization
The Borrower’s Signature Authorization form, when signed, authorizes the mortgage
provider to obtain information about the borrowers or co-borrowers without their original
signatures.
The applicant’s name, social security number, and property information are automatically
populated from other forms in the loan file and will print on this disclosure. It is available to
print only from a borrower file.
Brokerage Business Contract (Generic)
The Brokerage Contract contains the agreement that is being entered into by the broker
and the borrower. It explains the rights and obligations of the borrower and the mortgage
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brokerage acting on behalf of the borrower to ensure a loan commitment. Most of the data
is automatically populated from other screens.
Note
This is a generic brokerage form. Verify with your broker if your loan
requires that further conditions be met.
Cash Flow Analysis (1084)/Self-Employed Income Analysis
These forms apply to self-employed borrowers. They use the Schedule Analysis Method
and AGI (Adjusted Gross Income) to calculate the monthly income for self-employed
borrowers that is acceptable to underwriters.
Point performs all necessary calculations and totals the columns.
Flood Certification Work Order
Prerequisite
Because most of the information on this screen is populated from other
screens, you must complete the Borrower Information and Loan
Application screens before completing the Flood Certification Work
Order.
Fields relating specifically to flood certification are all direct input fields or check boxes.
Populate the fields and select the appropriate check boxes. To request directly from this
screen, click Request Flood. To view the flood data you request, click View Flood.
Related information
For more information about flood certification, see Flood certifications,
on page 449.
Flood Hazard Determination
The Standard Flood Hazard Determination is the standard flood hazard form created by
FEMA (Federal Emergency Management Agency). To make the flood report request
directly from this screen, click Request Flood. To view the flood data you requested, click
View Flood.
Flood Hazard Notice
The Flood Hazard Notice notifies potential buyers of special flood hazards in the area and
notifies them of the availability of federal disaster relief assistance. To request directly from
this screen, click Request Flood. To view the flood data you request, click View Flood.
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Gift Letter
A standard gift letter template is included with Point that is used to document an amount of
money received by the loan applicant as a gift. The property address on the gift letter
comes from the Prospect or Borrower Information screen.
Income and Debt Worksheet
The Income and Debt Worksheet print-only form is used to analyze criteria to determine
the borrower's ability to repay their loan. Information included in Point is automatically
populated in the corresponding fields. The remaining information is entered on the printed
form and calculated manually.
Intent to Proceed with Application
The Intent to Proceed with Application print-only form is signed by the borrower to express
their intent to proceed with the loan that was outlined in the specified Good Faith
Estimate. It is also used to notify the borrower that if they do not express their intent to
continue with the loan application by the specified date, the loan originator is not bound by
the Good Faith Estimate.
Itemization of Amount Financed
This legal-size form is a supplement to the Fees Worksheet.
It highlights the items on the Fees Worksheet (marked PFC) that comprise the Prepaid
Finance Charge used to calculate the annual percentage rate (APR) on the Truth-InLending disclosure.
It also itemizes the amount paid to the borrower’s account or paid to others on the
borrower’s behalf.
Loan Submission Sheet
The Loan Submission Sheet is a summary of the loan information that is used as a
cover page when submitting a loan manually for underwriting. Check with your lender to
verify if they will accept this form.
Completing the Loan Submission Sheet
Complete this form last so the majority of the information is populated from other forms.
Verify that the following fields are populated:
•
•
•
•
•
•
•
•
•
Census Tract
Program
Pgm code
Property Type
Float
Locked On
Appraisal Company
Escrow Company
Title Company
To complete the Loan Submission Sheet:
1
Open a borrower file.
2
Open the Loan Submission Sheet from the Forms menu or the shortcut toolbar.
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262
3
Complete the Lender section.
4
Complete any missing information in the Loan Summary and Terms section.
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5
Complete the Demand section.
This section of the Loan Submission Sheet screen is used to record certain loanrelated fees. When you enter the fees due to the lender or broker that are paid by the
borrower or broker, Point calculates the fees due to the broker.
To record fees already paid to the broker:
a
Click the Loan Demands button at the bottom of the workspace to open the Loan
Related Fees dialog box.
b
Select Borrower and enter the amount the borrower must pay (some of this
information is populated from the Fees Worksheet).
c
Click OK.
d
Click the Loan Demands button again.
e
In the Loan Related Fees dialog box, select Lender, enter the fees that the
lender will receive and click OK.
6
Enter any additional fees due to the lender, such as Appraisal Fee or Credit Reporting
Fee, in the Lender column on the Loan Submission Sheet.
7
Enter any fees already paid by the borrower to the broker in the fields to the left of the
Broker column and to the right of the Paid/Due fields.
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Leave the field blank if the lender is due the entire fee paid by the borrower.
The fees are calculated and totaled.
Note
The Borrower’s Total Owed should equal the sum of the amount due to
the lender, plus the amount Paid/Due to the broker.
Mortgage Loan Commitment
The Mortgage Loan Commitment form is similar to a lock-in letter and communicates
the rate lock and loan lock status to the borrower.
The Mortgage Loan Commitment consists of two pages. The first page contains
general loan information, terms, fees, and additional required items and conditions that
apply only to this loan. The required items and conditions are populated when the Show in
Mtg Loan Commitment check box is selected in the Banker > Conditions screen.
The second page lists the items and conditions that are required and apply to every loan,
such as insurance, tax payments, and right of cancellation.
Completing the Mortgage Loan Commitment screen
Because the Mortgage Loan Commitment is one of the final steps in processing a
loan, much of the information is already populated
To complete the Mortgage Loan Commitment screen:
1
264
Open a borrower file.
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2
Open the Mortgage Loan Commitment screen from the Forms menu or the
shortcut toolbar.
3
Complete any missing information in the General Information section.
Tip
Use the Cardex database to populate the lender fields.
4
Complete any missing information in the Amount, Terms and Fees section.
This section should be prepopulated except for the commitment expiration date (Cmt
Expires field). Enter the date that the borrowers’ rate lock and commitment expire.
5
Enter the terms of repayment according to the loan program in the Repayment Terms
section.
6
Enter the type of title insurance required in the Evidence of Title field.
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7
Complete the lender information at the bottom of the form.
Related information
See Chapter 21, Contact management (Cardex), for information about
populating fields by using the Cardex database.
Mortgage Loan Origination Agreement
The Mortgage Loan Origination Agreement screen feeds values into a printable form
that states the nature of the relationship being entered into between the broker or lender
and the borrower. It also details the compensation that will be received.
Some states require this form for loans that are originated by brokers.
Request for Appraisal, Evidence of Insurance, Payoff, or Title
Commitment
Most of the information on these screens is populated from other screens. At a minimum,
complete the Borrower Information or Prospect Information and Loan
Application screens first, then complete the blank fields or adjust any incorrect
information.
If possible, use the Cardex database to populate fields with a Cardex symbol.
Request for Survey
Most of the information on this screen is populated from other screens. Complete at least
the Prospect or Borrower Information screen and Loan Application before printing
this form.
Request for Tax Return (4506/4506–T)
The Request for Tax Return forms provide a borrower's authorization for a third party to
verify their tax information with the Internal Revenue Service.
Form 4506 is used to order copies of tax returns and form 4506-T is used to order
transcripts of tax returns.
This screen is completed based on how the borrower and co-borrowers, if any, submit
their tax returns.
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A single screen is used in Point to complete both the 4506 and 4506-T.
Note
The IRS instructions to complete and submit the 4506 and 4506-T are
provided on page 2 of each form. To access the instruction page in Point,
go to the Borrower Forms dialog box (File > Print or File> Print
Preview) and select Tax Return Request-Copy of Return (4506) - Pg 2.
Completing the Request for Tax Return (4506/4506-T)
To complete the Request for Tax Return (4506/4506–T):
1
Open a prospect or borrower file.
2
Open the Request for Tax Return (4506/4506–T) from the Forms menu or the
shortcut toolbar.
The borrower and co-borrower fields are automatically populated and are disabled for
changes.
If the borrower and co-borrower are married, their tax filing status is Married, filing
jointly, and the borrower is named first on the tax return, no additional entries or
clarification is required in the Name on Tax Return section.
If the borrower and co-borrower file separate tax returns (married but file separately,
are not married to each other, or another scenario), you must complete the name and
social security fields in the Name on Tax Return section.
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Use the following table as a guide to help with completing these fields:
Loan
applicant




Action
Single or head of
household

Married, filing
separately
Married, filing
jointly (married to
co-brw, if any)

Married, filing
jointly (brw/co-brw
are not married to
each other)
Co-borrower

Married, filing
jointly (w/spouse
named first on tax
return)
Borrower
Borrower filing status
Proceed to the Present Address section.

Swap the borrower and co-borrower information in
the Name on Tax Return section. Go to Step 3a for
instructions.

Submit separate requests for each loan applicant.
If an applicant’s spouse is named first on the tax
return, enter their information in the borrower fields
and the applicant information in the co-borrower
fields in the Name on Tax Return section. See Step
3a for instructions.








Submit separate requests for each loan applicant.
Include spouse on request as co-borrower in the
Name on Tax Return section. See Step 3b for
instructions.

List spouse first as borrower and borrower as coborrower in the Name on Tax Return section. See
Step 3a for instructions.


Proceed to the Present Address section.
Important
You must submit a separate form for each borrower and co-borrower
when their taxes are filed separately, regardless of whether they are
married to each other.
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3
Complete the Name on Tax Return section, if applicable.
a
If the primary borrower on the loan is married, files their taxes jointly, and their
spouse is named first on their tax return but is the co-borrower on the loan
application or is not a loan applicant:
i
Select the Name, Phone, SSN on Tax Return, if Not Name of Borrower check
box.
ii
Enter the spouse’s name, phone, and social security number.
iii If an employer identification number is used on the tax return, complete the
EIN field.
Important
When a borrower and co-borrower are married and file their taxes jointly,
regardless of whether they are married to each other or indicated as the
borrower or co-borrower on the loan, enter the information of the
person named first on their tax return in the borrower fields.
iv Select the Name, Phone, SSN on Tax Return, if Not Name of Co-borrower
check box.
v
Enter the borrower’s name, phone, and social security number.
vi If an employer identification number is used on the tax return, complete the
EIN field.
b
When the borrower or co-borrower is married, their spouse is not on the loan, but
they file their taxes jointly, enter the spouse’s information in the Name on Tax
Return section:
Important
If the non-applicant spouse is named first on their joint tax return, refer
to Step 3a for instructions.
Point User Guide
i
Select the Name, Phone, SSN on Tax Return, if Not Name of Co-borrower
check box.
ii
Enter the spouse’s name, phone, and social security number.
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iii If an employer identification number is used on the tax return, complete the
EIN field.
4
Complete the Present Address section.
The present address fields are automatically populated from the present address
fields on the Borrower Information screen.
a
Click the Copy Mailing Address button to transfer the borrower’s mailing address
if the it is different from their present address.
b
If the request for the tax return is for a company or the name on the tax return is
not the name of the borrower, select the Current Name, if Not Name of Borrower
check box.
The name fields become enabled.
270
c
Enter their name in the name fields.
d
If the address shown on the last tax return does not match the present address,
select the Previous Address on Last Return, if Different from Present Address
check box.
e
Enter the address on the most recent tax return in the address fields.
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5
If the IRS is to send the information to a third party, such as the lender or to
somewhere other than the name and address on the tax return, enter the name and
address in the Send Return Transcript to section.
6
Complete the Type of Transcript section.
Important
Some information in this section does not apply to both forms. If you
make a selection that is not relevant to the form you ultimately print, it is
ignored when the form is printed.
Point User Guide
a
Select the tax form number for the type of return you are requesting from the
Form # dropdown list.
b
If a certified copy is required for court or administrative proceedings, select the
Certified Copy check box. This option is not used on form 4506-T.
c
To request a summary of the line items on the return, select the Return Transcript
check box. This option is not used on form 4506.
d
To request the financial status of the account on the return, select the Account
Transcript check box. This option is not used on form 4506.
e
To request a combination of the line item information and adjustments, select the
Record of Account check box. This option is not used on form 4506.
f
To request proof that the return was not filed, select the Verification of Nonfiling
check box. This option is not used on form 4506.
g
To request transcript information from W-2, 1099, 1098, and 5498 forms that were
filed with the tax return, select the W-2, 1099, 1098, or 5498 check box. This
option is not used on form 4506.
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7
Enter the ending tax year or period in the date fields for each return you are
requesting.
Important
Form 4506 allows requests for up to eight years or periods for each
submitted form. Form 4506-T allows requests for only four years or
periods. If you enter more than four dates and use the 4606-T, the dates
that you entered in the bottom row on the Point screen will not print.
8
The IRS charges a fee to process form 4506. If you are using form 4506, enter the
current IRS fee in the Cost field.
Requirement
You must enter the correct fee charged by the IRS to process a request.
Failure to enter a value in the Cost field will not populate the fee fields on
the printed form, therefore the IRS will not process the request.
The IRS does not charge a fee to process requests that use form 4506-T.
Therefore, it is not necessary to enter the fee information when you
submit this form.
9
Enter the number of returns you are requesting in the # of Returns field.
10 Press the <Tab> key on your keyboard to calculate the total cost of the request and
enter it in the Total Cost field.
11 If the transcript is being sent somewhere other than to the name and address on the
tax return (the person identified in the Send Transcript to section), select the Return
Refund to 3rd party Listed on Line 5 check box to indicate where to send a refund of
the fees if the IRS was unable to fulfill the request.
12 Print the form, obtain the taxpayers’ signatures, and send the form to IRS.
Related information
•
For information about printing Point forms, refer to Printing and
previewing forms, on page 126.
•
For additional information about the Request for Tax Return
(4506/4506-T), the cost of each request, and where to send
completed forms, go to the Forms and Publications page on the
Internal Revenue Service web site and search for form 4506 or
4506-T.
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Notice of Action Taken
The Notice of Action Taken informs borrowers of the reasons when their credit request
is denied, their loan application is terminated, or other action is taken with their loan
application.
The following button, located at the bottom of the workspace, provides additional
functionality:
HMDA
Opens the HMDA Reporting screen which is used for tracking information that is
required to be reported to the Federal Financial Institutions Examination Council
(FFIEC), such as when a file is closed or another action is taken. If a relevant date
is missing, the HMDA report will not include these loans and your reporting will be
inaccurate.
Completing the Notice of Action Taken
To complete the Notice of Action Taken screen:
1
Open a prospect or borrower file.
2
Open the Notice of Action Taken from the Forms menu or the shortcut toolbar.
3
Enter a description of the account, transaction, or requested credit in the space
provided.
4
Complete the Action Taken section.
Point User Guide
a
Select the type of notice being sent from the Action Notice dropdown list.
b
Select the type of action taken from the HMDA Action Taken dropdown list.
c
Enter the date that the action was taken in the Action Date field.
d
Enter an explanation of the notice in the Notice Detail field.
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e
If you selected Notice of Counter Offer or Notice of Incomplete Application, the
Counter Offer expires/Provide information by date field is enabled. Enter the date
the offer expires or the completed application is required.
Select the If checked, our principal reasons for denying your original request are
indicated below check box if you select the reasons in Part 1 for making the
counter-offer.
f
5
274
If you selected Notice of Credit Denial, the Date Denied field becomes enabled.
Enter the date the application was denied.
Select the reasons for the action taken in Part 1. Enter any user-defined reasons in
the blank fields.
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6
Complete the Disclosure of use of information obtained from an outside source
section.
a
b
Select the Information obtained in a report from a consumer reporting agency
check box, if the information contained in this section was obtained from a
consumer reporting agency.
Click Copy from Credit Score Disclosure to open the Select Credit Score for
Disclosure dialog box.
i
Point User Guide
Select the credit reporting agency that you want to use to provide the credit
report information for both the borrower and co-borrower, if applicable.
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ii
Click OK.
With the exception of the Number of recent inquiries on credit report field, the
credit score and report details for the borrower and co-borrower are populated
in the Credit Scores section.
7
c
Enter the number of recent credit inquiries for the borrower and co-borrower in the
Number of recent inquiries on credit report fields.
d
If any information was obtained from an outside source other than a consumer
reporting agency, select the applicable check box.
e
Enter any additional settlement information in the space provided and select the
Additional Statement check box.
f
Enter your name in the Completion of letter by field.
Select the Delivery Method and enter the Date the notice was delivered.
Social Security Number verification
The Social Security Number Verification screen is used to collect the data necessary
to complete the Authorization for the Social Security Administration (SSA) to Release
Social Security Number (SSN) Verification form. The borrower’s signature on the form
authorizes the Consent Based Social Security Number Verification Service (CBSV) to
verify whether their Social Security Number and the associated name are a match
according to the SSAs records.
The information is submitted on the CBSV website for verification. CBSV will return a yes
or no to indicate whether the submission matches the SSA records, or if the SSN holder is
deceased, will return a death indicator.
Completing the Social Security Number verification
To complete the Social Security Number Verification screen:
1
276
Open a borrower file.
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2
Open the Social Security Number Verification (SSA-89) from the Forms menu
or the shortcut toolbar.
3
Enter the type of transaction being conducted in the I want this information released
because I am conducting the following business transaction field.
4
Select the check boxes that correspond to the reasons for using the verification
service.
5
If you are an agent making the request on behalf of the company, enter your name
and address in the Return to fields.
6
Generate and print the form to obtain the borrower’s signature.
Tax Authorization Form 8821
These forms provide authorization from the borrower to request tax information or copies
of tax returns from the IRS.
Tax Information (or 1098 Data)
This screen contains origination and discount fees and the first year of interest paid.
Transmittal Summary
The Transmittal Summary contains detailed information about the loan and is required
when submitting a loan to underwriting.
The following buttons, located at the bottom of the workspace, provide additional
functionality:
Credit Scores
Opens the Credit Scores dialog box which contains credit scores from the three
credit agencies for the borrower and co-borrower if credit was requested through
the Point Services interface.
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Disclosures and other forms
QM
Opens the Qualified Mortgage Reporting interface. This function sends data from
the current loan to LoanScoreCard to evaluate the loan according to QM
standards and returns a report.
Completing the Transmittal Summary
Complete the Transmittal Summary after you have completed the Loan Application,
disclosures, and verifications. Many of the fields are populated from other screens.
To complete the Transmittal Summary:
1
Open a borrower file.
2
Open the Transmittal Summary from the Forms menu or the shortcut toolbar.
Recommendation
If you have set up a master file and imported it into your current file,
most of the data automatically populates the Transmittal Summary. For
this reason, Calyx recommends completing all other forms before
completing this form.
3
278
Complete the Borrower and Property Information section.
a
Select the property type from the Property Type dropdown list.
b
Select the applicable check boxes in the Project Classification, Occupancy, and
Property Rights sections.
c
Complete any other fields that were not prepopulated.
Calyx Software
Forms
4
Complete the Mortgage Information section.
The Loan Type, Amortization Type, Loan Purpose, and Lien Position sections should
be populated from the Loan Application.
Recommendation
The loan and amortization types are automatically populated from other
screens.
If there is a second mortgage on the subject property, enter the
information in the If Second Mortgage section. This information is used
to determine the loan program eligibility.
a
If the lien position is First, enter the amount of subordinate financing in the Sub.
Financing field. If the loan is a HELOC (Home Equity Line of Credit), enter the
actual balance and the credit limit.
Attention
If you are using the Combined Transmittal Summary, many fields are
grayed out because the values are populated from the primary
borrower’s and co-borrower’s combined Transmittal Summaries. To add
or change a figure, modify the individual Transmittal Summary.
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Disclosures and other forms
b
If the lien position is second, select the owner of the first mortgage and enter the
original loan amount in the If Second Mortgage column.
Note
If the Note Rate is different than the Qualifying Rate, the First Mtg P & I
on the 1008 will be different from the Loan Application.
The P & I on the Loan Application is the Note Rate. The P & I on the
1008 is the Qualifying Rate.
5
Complete the Underwriting Information section.
The income data in the Stable Monthly Income section is populated from page 2 of
the Loan Application.
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If the subject property is an investment or secondary residence, the total for the
Proposed Monthly Payments/Borrower’s Primary Residence section reflects the
borrower’s current housing expenses.
If the subject property is for a primary residence, the total for the Proposed Monthly
Payments/Borrower’s Primary Residence section reflects the borrower’s proposed
housing expenses.
The amount in the All Other Pmts field is populated from the Liabilities section on
page 3 of the Loan Application.
The positive and negative cash flows for the (Subj Prop) and (Other Prop) fields in the
Other Obligations section are automatically populated from the Schedule of Real
Estate Owned section on page 3 of the Loan Application.
a
Enter the underwriter and appraiser information.
Tip
You can use the Cardex database to populate this information.
b
To modify the cash flow values, click the lock box to enable the fields.
Tip
For a refinance of a non-owner occupied property:
1
Check the lock box.
2
Enter the new positive or negative cash flow from the Pos Cash Flow
(Subj Prop) or Neg Cash Flow (Subj Prop) that results from the
purchase or refinance (taking into account the gross rent).
The P & I on the Loan Application is the Note Rate. The P & I on the
1008 is the Qualifying Rate.
c
d
To adjust the top and bottom debt-to-income ratios, verify that the following fields
are correct on page 2 of the Loan Application:
•
All income fields
•
Housing Expenses
•
Mortgage Payments fields
To adjust the loan-to-value (LTV) and combined loan-to-value (CLTV) ratios in the
Borrower or Prospect Information screen:
•
Verify that the Sales Price, Appr Value, and Loan Amt fields are correct.
•
Verify that the correct Type check boxes are marked in the Borrower
Information screen.
Tip
You can display the Ratios dialog box for the current loan file at any
time by selecting Utilities > Display Ratios, by clicking the Ratios icon
on the toolbar, or by typing <Ctrl> + <T>. The Ratios dialog box
contains the top, bottom, LTV, and CLTV ratios.
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e
The Qual Rate field is automatically populated from the Loan Application. Either
the Above or Below check box is selected automatically and a value is entered in
the corresponding field. Select the Note Rate, Bought Dn Rate, or Other check
box to indicate if the value is above or below the note rate, bought down rate, or
other rate.
f
Enter the HCLTV/HLTV, if applicable.
The HLTV is the combined LTV based on the maximum credit limit of the equity
line.
g
To adjust the top and bottom income-to-debt ratios, verify that all the income,
housing expenses, and mortgage payments fields in the Loan Application
screens are all correct.
The Debt-to-Housing Gap Ratio (Freddie) field, which is required for Freddie Mac
loans, is the difference between the monthly debt-to-income ratio and the monthly
expense-to-income ratio.
6
h
Complete the Risk Assessment section.
i
Enter any underwriter comments in the Underwriter Comments field.
Complete the Seller, Contract, And Contact Information section.
This section is typically not required to be completed by the broker. Enter the
information manually, or use the Cardex database to populate this information.
Related information
•
For more information about the Liabilities section, see Entering
liabilities, on page 151.
•
See Chapter 21, Contact management (Cardex), for more
information about the Cardex database.
•
For more information about second mortgages and investment
loans, see Chapter 13, Loan scenarios, or the following Knowledge
Base articles:
–
–
282
#0455 Entering an Investment Loan in Point
#0152 Piggy Back/First and Second Mortgage loans
Calyx Software
Mortgage insurance, USDA fees, and escrow (impound) account details
Mortgage insurance, USDA fees, and escrow (impound)
account details
Calculating ongoing escrow payments
The Aggr Escrow button on the Fees Worksheet opens the Aggregate Escrow
Account Disclosure screen, which is used to calculate ongoing escrow payments.
Requirement
For Point to calculate the aggregate adjustment, you must enter an
amount in the 1st Payment Date field on the Fees Worksheet.
It contains escrow data for taxes, hazard insurance, mortgage insurance, flood insurance,
and school taxes. It also includes two blank fields to enter user-defined escrow expenses.
Point calculates the adjustment to impounds from the aggregate analysis and enters the
adjustment on the Fees Worksheet.
To complete the Aggregate Escrow Account Disclosure:
1
Verify that the 1st Payment Date field in the Fees Worksheet contains a date.
2
Click the Aggr Escrow button on the Fees Worksheet or select Forms > Escrow
Account Disclosure.
3
Enter the servicer name, address, and phone number manually or use the Cardex
database to populate these fields.
The servicer is the entity that controls the escrow account.
4
Enter any user-defined fees in the blank fields.
These fields correspond to the two user-defined fees in the Homeowner’s Insurance
section in the Fees Worksheet. To include amounts for the user-defined fields in the
aggregate total, enter the information for these funds in the Fees Worksheet.
5
Point User Guide
Click Calculate to open the Initial Escrow Account Setup dialog box.
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Disclosures and other forms
The Initial Escrow Account Setup dialog box is used to document the monthly
escrow fees for the first year of the loan.
Tip
The Initial Escrow Account Setup dialog box is also accessible by
clicking the Aggregate Adjustment Table button on the Fees
Worksheet.
The company defaults that were specified in the utility function are prepopulated in the
screen.
6
To specify that the borrower must pay some fees in advance to provide a reserve in
the event a fee increases or a payment is missed, enter the number of months the
borrower must pay in the Cushion row.
7
To add additional escrow charges, enter the number of months that are being paid in
the field for the month that the payment is due.
For example, if property taxes are paid in April and December for a six month period,
enter 6 in the April and December rows in the Tax Disb column. If the payments are
made annually, enter 12 in the field for the month that they are due.
Important
Do not enter any values in these fields unless the fees are to be included
in the ongoing monthly escrow payments. Delete any default values, or
replace them with zeros, that are not included in the ongoing monthly
payments. Do not remove the cushion value if the fees are to be paid at
the close of escrow.
8
To change a default setting, select the entry that you want to change and enter the
new value. To remove a value, select the cell that contains the fee and press the
<Delete> key on your keyboard.
9
To exclude a fee from the aggregate accounting, select the Exclude check box at the
foot of the disbursement column where the fee is entered.
10 To revert to the defaults that were specified in the escrow account utility, click
Company Defaults.
11 Click OK.
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Mortgage insurance, USDA fees, and escrow (impound) account details
The fees are calculated and the form is populated with the monthly payment amounts.
Related information
•
For information about how to use the Initial Escrow Account
Setup dialog box and set the company impound account defaults,
•
Refer to Completing the Fees Worksheet, on page 180, for
information about entering data in user-defined fields in the Fees
Worksheet.
•
See Chapter 21, Contact management (Cardex), for information
about populating fields by using the Cardex database.
refer to Defining fee types, on page 49.
Calculating mortgage insurance, funding fees, and USDA fees
The Mtg Insurance button opens the PMI/MIP/FF/USDA dialog box which is used to
calculate up front fees and mortgage insurance fees for conventional, FHA, and VA loans
and USDA fees for USDA loans.
To complete the PMI/MIP/FF/USDA dialog box:
1
Point User Guide
Open a prospect or borrower file.
285
Disclosures and other forms
2
Click the Mtg Insurance button in the Borrower Information screen to open the
PMI/MIP/FF/USDA dialog box.
Tip
The PMI/MIP/FF/USDA dialog box is accessible from the following
screens:
•
•
•
•
•
3
Borrower Information
Prequalification
Rent vs. Own
Good Faith Estimate
Fees Worksheet
Complete the Up-Front Mortgage Insurance Premium/Funding Fee section if the
mortgage insurance policy requires payment to the escrow account in advance or if
the loan is a USDA loan.
The Base Loan Amount field is automatically populated if previously entered in the
Borrower Information screen or Loan Application.
a
286
If the loan is an FHA loan, click the FHA Max Ln button to calculate the maximum
loan amount that is allowed. Click Yes in response to the prompt to copy the
Calyx Software
Mortgage insurance, USDA fees, and escrow (impound) account details
maximum loan amount to the Loan Amount field in the Borrower Information
screen.
Requirement
The FHA Max Ln button is enabled only when both the FHA and
Purchase check boxes are selected in the Loan Type and Purpose of
Loan sections on the Borrower Information screen.
b
Enter the mortgage insurance premium, funding fees, PMI, or USDA fee in the
MIP, FF PMI, USDA field or select a predefined value from the dropdown list.
Press the <Tab> key to populate the calculated fields.
c
If part or all of the fee will be paid in cash, enter the cash amount in the Amount
Paid in Cash field.
The Up-Front MIP/Funding Fee Financed and Loan Amount with Up-Front MIP/
PMI/Funding Fee fields are automatically populated.
Note
If the up-front mortgage insurance fee is not a round number, for
example, $575.26, Point automatically rounds the amount down to the
nearest dollar and populates the Amount Paid In Cash field with the
remaining cents, i.e., $.26. Click the lock box to change the value.
d
4
Select an option from the Refundable Type dropdown list to specify whether the
mortgage insurance is refundable.
Complete the Monthly Mortgage Insurance section.
a
b
Select an option from the Calculate Based On dropdown list:
•
To calculate the premium based on the appraised value of the property, select
Appraisal Val.
•
To calculate the premium based on the loan amount, select Loan Amount.
•
To calculate the premium based on the sale price of the property, select Sales
Price.
If the mortgage insurance policy is to end when the loan amount reaches a
specific LTV percentage, enter that amount in the Cancel at ___% field.
Important
If you enter a value in this field and in the Cancel At field, the mortgage
insurance premium is canceled at whichever occurs first.
This information is populated in the corresponding fields on the Truth-inLending Disclosure and Loan Application.
c
Point User Guide
To calculate the insurance based on the balance of the loan, select the Calculate
based on remaining balance check box.
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Disclosures and other forms
This calculation averages the loan balance every 12 months and averages the
mortgage insurance premium in the Truth-in-Lending payment schedule.
To cancel the insurance halfway through the mortgage term, select the Midpoint
payment cancellation check box.
d
Select the mortgage insurance rate for the initial period from the PMI/MIP/VA/
USDA dropdown list.
To enter the value manually, click the lock box to enable the Monthly Amount field
and enter the number of months that the initial rate is effective in the mths field.
The amount is calculated and automatically populated in the Proposed Monthly
Housing Expenses section on page 2 of the Loan Application, the Mortgage
Insurance field on the Truth-in-Lending Disclosure, and the PMI/MIP/VA FF/
USDA Reserves fields in section 9 on the Fees Worksheet.
e
If the mortgage insurance rate changes after the initial period, select the renewal
rate from the PMI Renewal 1, and if applicable, the PMI Renewal 2, dropdown lists.
Note
The values for the PMI rate dropdown lists are defined in the dropdown
list utility (Utilities > Dropdown Lists > Mtg Insurance).
f
Enter the number of months that the renewal rates are effective in the mths fields.
The resulting amount populates the Mortgage Insurance fields on the Truth-inLending Disclosure.
5
Click OK.
The information is populated into the mortgage insurance fields in the forms
throughout the loan file.
Related information
288
•
For information about how to define mortgage insurance rates, refer
to Dropdown lists, on page 71.
•
For more information about the USDA fee, refer to Completing the
Truth-In-Lending Disclosure, on page 224.
•
Refer to Chapter 8, FHA and VA loans, for information about
processing FHA loans.
Calyx Software
Banker functions
7
Point provides a set of screens that assist bankers with managing mortgage banking
functions—those activities that occur after the loan is closed and funded. These screens
also help to simplify tracking and reporting of those mortgage banking functions, providing
a system of record for the banker.
Attention
Banker screens are available only in borrower files.
Use the Banker screens to record and track the following loan functions:
•
•
•
•
•
•
•
•
•
Secondary Marketing
Underwriting
Conditions
Fees & Impounds
Closing
Warehouse & Purchase Advice
Shipping
Trailing Documents
Recording
Many of the Banker screens share information. Depending on the role of the user, for
example, underwriter, closer, funder, or processor, information is entered at various times
during the loan process. Each user maintains different information, and if the information
is shared, it is populated in other areas of the loan file.
To prevent unauthorized users from viewing sensitive proprietary and financial data, it is
possible to restrict access to the Banker screens. Access privileges are controlled by
setting the security level for these screens in Point Administrator or PointCentral,
depending on your configuration.
Restriction
Restricting access to financial information is specified for Point users in
Point Administrator. PointCentral users are granted access to individual
Banker screens as part of the data folder security settings.
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Banker functions
Each user also has a different level of access to certain screens and information. A user
might have restricted access to financial information or can view only some information
but not make changes. Read-only fields are gray but readable.
In this topic
•
•
•
•
•
•
•
•
•
•
Registering and locking loans for sale
Tracking underwriting status
Recording and tracking loan conditions
Funding loans
Closing loans
Submitting and tracking warehouse lender loans
Tracking loan shipment status
Tracking investor requirements
Recording loans
Supplementary screens
Related information
•
Refer to Setting user access to data folders, on page 774, for
information about restricting access to banker screens.
•
Refer to the PointCentral User Guide for information about
specifying security settings.
Registering and locking loans for sale
The Secondary Marketing screen is used, usually by the secondary marketing
manager, to record lock data for loans that are to be funded internally and sold to
investors. It is not intended to be used for loans that are brokered to wholesale lenders. It
is one of the screens that allow restricted access through Point Administrator, so a loan
originator might not have access to this screen.
Restriction
This option is available only to users who have access to financial
information. Access to financial information is specified for Point users in
Point Administrator. PointCentral users are granted read, write, or no
access to individual Banker screens as part of the data folder security
settings.
If you are not granted access to financial information, this menu option is
disabled.
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To use the Secondary Marketing screen:
1
Open a borrower file.
2
Select Banker > Secondary Marketing.
3
Complete the Loan Information section.
Most of the fields in this section are prepopulated with information that was entered in
other screens.
If Auto MIN Generation is enabled, the MERS # is automatically generated and
populated in the MERS # field. To override the automatically generated value, select
the check box to unlock the field and enter the MERS # manually.
Disabled fields are populated when the user for that role completes them. For
example, the fields in the Underwriting Decision section are completed by the
underwriter on the Underwriting screen.
4
Complete the Rate Lock Confirmation section.
The fields in this section correspond to the Registration and Lock Request section on
the Registration & Rate Lock tracking screen. If data is entered or updated in these
fields in either screen, the corresponding fields are automatically populated.
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Banker functions
If the rate was already locked, the fields that pertain to the rate lock are disabled and
cannot be modified.
a
Complete the enabled fields as needed.
b
Select the Escrows Waived check box to waive any escrow requirements.
c
If the yield spread premium is based on the initial HELOC draw amount, select the
HELOC YSP Based on Initial HELOC Draw Amt check box.
d
When the lock is confirmed, select the Lock Confirmed check box.
The Create Lock Confirmation button becomes enabled and the HELOC YSP
Based on Initial HELOC Draw Amt check box and the Rate Lock Pricing fields
become disabled to prevent additional changes.
The Lock Confirmed Date field is automatically populated with the current date.
Note
If the Required Net Adjusted Rate field in the Rate Lock Pricing section
contains a value when the Locked Confirmed check box is selected, a
message is displayed asking if you want to copy the locked rate to the
note rate. Select Yes or No.
e
Click the Create Lock Confirmation button.
The Lock Confirmation is generated and is displayed on the screen.
f
Enter a file name if the File Name field is not pre-populated.
Requirement
A file name is required when the E-mail as PDF File or Save as PDF File
option is selected. The OK button is disabled if the File Name field is
blank. Enter a file name to enable the button.
g
Select one of the following options from the Output Option dropdown list and click
OK.
•
E-mail as PDF File
The document is added to the document repository and the Set PDF
Password dialog box is displayed.
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Registering and locking loans for sale
iTo password-protect the document before sending, select Protect with
Password and enter the password in the Password field. Otherwise,
select Do Not Protect with Password.
An e-mail window from your default e-mail application opens with the
form attached as a PDF document.
iiComplete your e-mail and send it as you normally would.
•
Print
The document is added to the document repository and the Print Document
dialog box is displayed. Click OK to proceed with printing.
•
Save as PDF File
The Set PDF Password dialog box is displayed.
To password protect the document before saving, select Protect with
Password and enter the password in the Password field. Otherwise, select Do
Not Protect with Password.
The document is added to the document repository.
h
Complete the Current Loan Information section.
i
ii
Complete the Product ID and Loan Amount fields, if needed.
If the loan is for a home equity line, enter the initial draw amount in the Initial
HELOC Draw field.
iii Click the Loan Program Details button to access the Program & Rate Lock
Details dialog box.
iv Select the tab that corresponds to the information you want to view or edit and
make the necessary changes.
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Banker functions
5
Complete the Gain/Loss Information section.
Important
After the lock is confirmed (the Lock Confirmed check box is selected),
the Rate Lock Pricing section is disabled and changes are not allowed.
a
Complete the Rate Lock Pricing section.
i
Enter the base rate in the Base Rate field.
ii
Select up to two additional rate adjustments from the dropdown lists.
Point calculates the Required Net Adjusted Rate field based on the rate
adjustments entered.
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Registering and locking loans for sale
b
Complete the Buy Price section.
Attention
If you use the product and pricing to obtain pricing and populate the Buy
Price and the Commitment Pricing sections, the values are disabled and
cannot be edited. To remove the pricing, click the Clear Pricing Engine
Results button and click Yes in the Delete Confirmation dialog box.
If the pricing engine was cleared or if the Buy Price and the Commitment
Pricing sections were populated manually, the Clear Pricing Engine
Results button is not visible.
i
Enter the base rate in the Base Rate field.
ii
Select additional buy price adjustments from the dropdown lists.
iii Enter the adjustment percent in the % field.
Point calculates the Net Buy Price field based on the price adjustments
entered.
iv Enter the Margin in the Branch/Originator Margin section.
c
Complete the Commitment Pricing section.
i
Enter the base rate in the Base Rate field.
ii
Select up to two additional rate adjustments from the dropdown lists.
Point calculates the Required Net Adjusted Rate field based on the price
adjustments entered.
d
Complete the Sell Price section.
i
Enter the base rate in the Base Rate field.
ii
Enter the Service Release Premium rate adjustment.
iii Enter the Overage/Rebate adjustment, if applicable.
iv Select additional sell price adjustments from the dropdown lists.
v
Enter the adjustment percent in the % field.
Point calculates the Net Sell Price field based on the price adjustments
entered.
Tip
Price adjustments are calculated as positive values. Therefore, to enter a
negative amount, precede it with a minus sign (-) to indicate that it is a
negative value.
e
Select the Pricing based on Loan Amount w/MIP,FF check box to calculate the
Net Buy Price based on the total loan amount rather than the base loan amount.
Point calculates the Gain/Loss on Sale fields based on the adjustments entered.
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Banker functions
6
Complete the Commitment & Investor Information section.
a
Complete the Registered Date, Commitment Date/Time, Commitment Term,
Commitment Extension, Desired Ship Date, and Delivery Due Date fields.
The Commitment Exp Date field is populated based on the values in the
Commitment Term and Commitment Extension fields.
b
Select the investor from the dropdown list.
Tip
Populate the dropdown list by creating investor profiles in the company
defaults utility (Utilities > Company Defaults > Investors).
c
7
296
Complete the Investor Loan No, Commitment No, Investor Program, Commitment
Type, and Rate Sheet Ref # fields.
Complete the Final Gain/Loss Information section.
a
Enter the date when the loan is sold to the investor (from the Loan Purchase
Advice) in the Loan Sale Date field.
b
Enter the date when the wired purchase funds are received from the investor in
the Wire Received Date field.
Calyx Software
Tracking underwriting status
c
Enter the Principal Amount Purchased.
Attention
The Principal Amount Purchased field is enabled when a date is entered
in the Loan Sale Date field.
d
Enter the Base Sell Price, Service Release Premium, Overage/Rebate, and Sell
Adjustments percentages and any additional amount in the % and $ fields.
Point calculates the Final Net Sell Price, Net Sell Price, Execution Variance, and the
Final Gain/Loss on Sale.
Related information
•
For information about creating dropdown lists, refer to Dropdown
lists, on page 71.
•
For information about automatic MERS number generation, refer to
Generating the Mortgage Identification Number
automatically, on page 95.
•
Refer to E-mailing forms, on page 131, for information about
setting PDF passwords and e-mailing forms.
•
For information about the document repository, refer to Electronic
document storage, on page 589.
•
Refer to Locking rates and registering loans, on page 538, for
information about the Registration & Rate Lock screen.
•
Refer to Tracking underwriting status, on page 297, for
information about the Underwriter screen.
•
Refer to Program and rate lock details, on page 389, for
information about the Program & Rate Lock Details dialog box.
Tracking underwriting status
The Underwriting screen is used to track the underwriting status of a loan. This screen
contains information about AUS runs and their costs, underwriter decisions, and the dates
of those decisions.
The Underwriting screen captures and displays the underwriting status of the subject
loan to all users. Typically, the underwriter uses it to enter the following information:
•
•
•
•
Automated Underwriting System (AUS) used
Run date
Loan decision
AUS cost (can also be prepopulated from a template)
The following buttons, located at the bottom of the workspace, provide additional
functionality:
Conditions
The Conditions button opens the Conditions screen which is used to track loan
conditions.
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Banker functions
Appraisal
The Appraisal button opens the Appraisal Information dialog box which is
used to record information about the property appraisal.
Insurance
The Insurance button opens the Insurance dialog box which contains
information about the mortgage, hazard, and flood insurance for the property.
Escrow & Title
The Escrow & Title button opens the Escrow & Title Information dialog box
which contains the escrow, title, and wire information.
To use the Underwriting screen:
1
Open a borrower file.
2
Select Banker > Underwriting.
The top portion of this screen contains general loan and borrower information. Most of
these fields are prepopulated with information that was entered in other screens.
3
298
Complete the information in the missing fields.
Calyx Software
Tracking underwriting status
4
Complete the General Information section.
Most of these fields are populated with information that was entered in other screens.
a
If the loan is for a home equity line, enter the initial draw amount in the Initial
HELOC Draw field.
b
Enter the Max Loan Limit.
c
Select the 1st Time Home Buyer check box if any borrower of the loan is a first
time buyer.
d
Select the Escrows waived check box if the lender is allowing the borrower to pay
certain escrow items directly to the payees.
e
Select the Prepayment Penalty check box if the selected loan program has a
prepayment penalty.
Enter the number of years the prepayment penalty is in effect and select the
Prepay Type from the dropdown list.
f
Click the Program/Lock Details button to access the Program & Rate Lock
Details dialog box.
Select the tab that corresponds to the information you want to view or edit and
make the necessary changes.
When the rate lock is confirmed on the Secondary Marketing screen, the Lock
Confirmed check box is selected.
g
Enter the Max LTV/CLTV.
The LTV/CLTV and HCLTV fields are populated from information that was entered in
other screens.
h
Select the documentation type from the Doc Type dropdown list.
i
Enter the Credit Grade, if applicable.
j
Complete the Debt-to-Income Ratios section.
When locking a loan, many loan programs require that the top/bottom ratios and
the LTV/CLTV not exceed a maximum amount. Enter the maximum levels that are
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Banker functions
allowed on the rate sheet to ensure that the loan parameters meet the rate lock
requirements.
Tip
You can display the Ratios dialog box for the current loan file at any
time by selecting Utilities > Display Ratios, by clicking the Ratios icon
on the toolbar, or by typing <Ctrl> + <T>.
The Ratios dialog box contains the top, bottom, LTV, and CLTV ratios.
The Combined fields are automatically populated with the combined debt-toincome ratios of the borrower and co-borrowers when there are co-borrowers on
the loan.
5
300
Complete the Loan Program, Investor Information, and Flood Certification sections.
Calyx Software
Tracking underwriting status
6
Complete the Underwriting Decision section.
a
Select your decision from the dropdown list.
The Decision Date field is automatically populated. In addition, depending on the
decision selected, the current date is entered in the corresponding field (for
example, denied or cancelled) on the Track > Status and Checklist screen.
•
If you approved the loan, enter the maximum interest rate that is approved
and the date that the approval expires in the Max Approved Rate and
Approval Exp Date fields.
•
If for some reason you are unable to approve the loan immediately, select
suspended from the dropdown list and specify the reason in the Suspense
Reason(s) field.
•
If you deny the loan, specify up to three HMDA-compliant reasons for the
denial from the Denial Reason dropdown lists.
When the Decision Date field and the Suspense/Reason(s) or the Decision Date
field and at least one of the Denial Reason(s) fields are completed, the Create
Suspense/Denial Notice button becomes enabled.
b
Enter the clear to close date in the Clear to Close field.
If an automated underwriting system was used to underwrite the loan, the
information is automatically populated in the Automated Underwriting section.
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c
If the underwriting was done manually, select the Manual Underwriting check
box.
d
Select the Underwritten to Investor Guidelines check box if the loan conforms
to the investor guidelines.
e
Check the Loan Exception Granted check box if an exception was made to the
program guidelines that might be subject to added conditions or pricing add-ons.
f
Enter a description of the exception to program guidelines in the Exception
Description field.
g
Complete the Automated Underwriting section.
Enter the type of Automated Underwriting System if not Fannie Mae or Freddie
Mac, the date the AUS was run, AUS recommendation, and the case number.
Up to four automated underwriting decisions are allowed. If the AUS decision
includes conditions, enter those conditions on the Banker > Conditions screen
by copying and pasting the information from the underwriting findings.
Tip
Access the Conditions screen directly from the Underwriting screen by
clicking the Conditions button at the bottom of the workspace.
After you, the underwriter, receive the file, review the Lock Exp Date field. If the
field is populated, the loan was locked and the investor field should contain the
investor’s name. If you receive the file before the rate lock, enter the investor’s
name when you receive it. You can then underwrite the loan to conform to that
investor’s standards.
h
If the loan was suspended or denied, click the Create Suspense/Denial Notice
button.
The Suspense/Denial Notice is generated and is displayed on the screen.
i
Enter a file name if the File Name field is not pre-populated.
Requirement
A file name is required when the E-mail as PDF File or Save as PDF File
option is selected. The OK button is disabled if the File Name field is
blank. Enter a file name to enable the button.
j
302
Select one of the following options from the Output Option dropdown list and click
OK.
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Tracking underwriting status
•
E-mail as PDF File
The document is added to the document repository and the Set PDF
Password dialog box is displayed.
iTo password protect the document before sending, select Protect with
Password and enter the password in the Password field. Otherwise,
select Do Not Protect with Password.
An e-mail window from your default e-mail application opens with the form
attached as a PDF document.
iiComplete your e-mail and send it as you normally would.
•
Print
The document is added to the document repository and the Print Document
dialog box is displayed. Click OK to proceed with printing.
•
Save as PDF File
The document is added to the document repository and the Set PDF
Password dialog box is displayed.
To password protect the document before saving, select Protect with
Password and enter the password in the Password field. Otherwise, select Do
Not Protect with Password.
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The document is added to the document repository.
Related information
•
Refer to E-mailing forms, on page 131, for information about
setting PDF passwords and e-mailing forms.
•
For information about the document repository, refer to Electronic
document storage, on page 589.
•
Refer to Program and rate lock details, on page 389, for
information about the Program & Rate Lock Details dialog box.
•
Refer to Chapter 16, Templates, for information about creating loan
templates.
•
Refer to Chapter 21, Contact management (Cardex), for
information about using the Cardex database
Recording and tracking loan conditions
Underwriters use the Conditions screen to track loan conditions that are required before
they can approve the loan.
The following buttons, located at the bottom of the workspace, provide additional
functionality:
Appraisal
The Appraisal button opens the Appraisal Information dialog box which is
used to record information about the property appraisal.
Insurance
The Insurance button opens the Insurance dialog box which contains
information about the mortgage, hazard, and flood insurance for the property.
Escrow & Title
The Escrow & Title button opens the Escrow & Title Information dialog box
which contains the escrow, title, and wire information.
To use the Conditions screen:
1
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Open a borrower file.
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Recording and tracking loan conditions
2
Select Banker > Conditions.
The top portion of this screen contains general loan and underwriting information.
Most of these fields are populated with information that was entered in other screens.
Update or edit any information in enabled fields, if needed.
3
Click the Program/Lock Details button to access the Program & Rate Lock Details
dialog box.
Select the tab that corresponds to the information you want to view or edit and make
the necessary changes.
4
To generate a loan approval notice, click the Create Loan Approval Notice button.
Requirement
The Create Loan Approval Notice button is enabled only when the
underwriting decision is Approved and the loan contains at least one
condition.
The Loan Approval Notice is generated and is displayed on the screen.
a
Enter a file name if the File Name field is not pre-populated.
Requirement
A file name is required when the E-mail as PDF File or Save as PDF File
option is selected. The OK button is disabled if the File Name field is
blank. Enter a file name to enable the button.
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b
Select one of the following options from the Output Option dropdown list and click
OK.
•
E-mail as PDF File
The document is added to the document repository and the Set PDF
Password dialog box is displayed.
iTo password protect the document before sending, select Protect with
Password and enter the password in the Password field. Otherwise,
select Do Not Protect with Password.
An e-mail window from your default e-mail application opens with the form
attached as a PDF document.
iiComplete your e-mail and send it as you normally would.
•
Print
The document is added to the document repository and the Print Document
dialog box is displayed. Click OK to proceed with printing.
•
Save as PDF File
The document is added to the document repository and the Set PDF
Password dialog box is displayed.
To password protect the document before saving, select Protect with
Password and enter the password in the Password field. Otherwise, select Do
Not Protect with Password.
The document is added to the document repository.
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5
To generate a Funding Conditions Notice, click the Create Funding Conditions
Notice button.
Requirement
The Create Funding Conditions Notice button is enabled only when
the Docs Back Date field is populated with a date.
The Funding Conditions Notice is generated and is displayed on the screen.
a
Enter a file name if the File Name field is not pre-populated.
Requirement
A file name is required when the E-mail as PDF File or Save as PDF File
option is selected. The OK button is disabled if the File Name field is
blank. Enter a file name to enable the button.
b
Select one of the following options from the Output Option dropdown list and click
OK.
•
E-mail as PDF File
The document is added to the document repository and the Set PDF
Password dialog box is displayed.
iTo password protect the document before sending, select Protect with
Password and enter the password in the Password field. Otherwise,
select Do Not Protect with Password.
An e-mail window from your default e-mail application opens with the form
attached as a PDF document.
iiComplete your e-mail and send it as you normally would.
•
Print
The document is added to the document repository and the Print Document
dialog box is displayed. Click OK to proceed with printing.
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Banker functions
•
Save as PDF File
The document is added to the document repository and the Set PDF
Password dialog box is displayed.
To password protect the document before saving, select Protect with
Password and enter the password in the Password field. Otherwise, select Do
Not Protect with Password.
The document is added to the document repository.
6
To manually add conditions into the Loan Conditions section:
a
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Click Add.
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Recording and tracking loan conditions
The Edit Condition dialog box is displayed.
The Created Date and Created By fields are automatically populated with the
current date and user.
b
Select one of the following conditions from the Condition Type dropdown list:
•
PTD (prior to docs)
•
PTF (prior to fund)
•
Trailing
•
Investor
•
Submission
•
Suspended
c
Enter a description of the condition.
d
When the condition is satisfied, enter the Received Date.
e
When the condition is closed, enter the Cleared Date.
The Cleared By field is automatically populated with the current user.
f
Select the document category from the Category dropdown list.
g
Select the MISMO document type from the Type dropdown list.
Note
Default category and type lists are provided. You can add and change the
lists from the Utilities > Company Defaults > Document Categories/
Types menu option.
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h
To include the condition in the list of conditions on the Track > Conditions
screen, select the Show in Track > Conditions Screen check box. You must also
specify a category and type.
Important
If you are editing a previously saved loan condition, selecting the Show in
Track > Conditions screen check box does not record the loan condition
in the Document Requests table. You must select the check box at the
time of creation for it to be saved in the Document Requests table.
i
Select the Show in Mtg Loan Commitment Screen check box to include the
condition on the Mortgage Loan Commitment screen.
To enter multiple conditions, click Save & New after each entry.
Use the arrow buttons to navigate between entries in the Edit Conditions dialog
box.
j
7
When you are finished entering conditions, click Save & Close.
To populate the conditions list with the default conditions, click Add Defaults.
The default conditions are appended to the list.
Tips
You can change the column widths and sort the conditions in the loan
conditions list or in the Conditions Pick-List dialog box by any column.
•
To sort the conditions by one of the columns, click the column
heading to sort the conditions in ascending order. Click the column
heading again to sort the conditions in descending order. The default
sort order is by date.
The sort order is retained in the loan file until you change it again.
•
8
310
To resize a column width, place the cursor on the vertical line to the
right of the column heading, click and hold, and drag to the left or
right to increase or decrease the column width.
To select the conditions from a pre-established list, click Add Conditions from PickList.
Calyx Software
Recording and tracking loan conditions
The Conditions Pick-List dialog box is displayed.
The Conditions Pick-List is created by using the Company Defaults option from the
Utilities menu.
9
Select the conditions to add and click OK.
Tip
To select multiple conditions, hold the <Ctrl> key as you select each
condition. To select multiple consecutive conditions, hold the <Shift> key
as you select the first and last condition.
Use the Insert, Edit, and Delete buttons to add, change, or remove entries. Use the
Up and Dn buttons to move entries up or down in the list.
Tip
Click the check box in the table next to Received and Cleared and the
current date and logged in user are automatically populated in their
respective fields.
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Related information
•
Refer to Creating the default conditions list, on page 46, for
information about creating the default condition list and the
conditions pick list.
•
For more information about default categories and types, refer to
Creating document categories and types, on page 58.
•
Refer to E-mailing forms, on page 131, for more information about
setting PDF passwords and e-mailing forms.
•
For more information about the document repository, refer to
Electronic document storage, on page 589.
•
Refer to Program and rate lock details, on page 389, for
information about the Program & Rate Lock Details dialog box.
Funding loans
Use the Fees & Impounds screen to document the final fees and impounds for closing
the loan. These fees are itemized on the Create Funding Figures Worksheet which the
funder/closer sends to the document provider to use to generate the HUD-1. The net wire
amount that the warehouse lender is to send is also calculated on this screen.
Restriction
This option is available only to users who have access to financial
information. Access to financial information is specified for Point users in
Point Administrator. PointCentral users are granted read, write, or no
access to individual Banker screens as part of the data folder security
settings.
If you are not granted access to financial information, this menu option is
disabled.
To use the Fees & Impounds screen:
1
Open a borrower file.
2
Select Banker > Fees & Impounds.
Many of the fields are populated from other screens.
3
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Complete the fields with missing data or edit them as needed.
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Funding loans
4
Complete the Fees section.
Tip
Use the scroll bar below the table to view the columns that are not
visible.
The final fees table is used to record the fees that are required to close the loan, for
example, taxes, recording documents, or processing fees.
a
Point User Guide
To populate the fees from the Fees Worksheet, click Copy from Fees
Worksheet.
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Banker functions
The Copy from Fees Worksheet dialog box is displayed.
i
Select the check boxes that correspond to each fee to include in the list. Click
Select All to select all of the fees in the list.
ii
Click Yes.
The fees and impounds are added to the list. Existing fees are updated.
b
To populate the fees list with the list of default fees, click Add Defaults.
The list of default fees are appended to the list.
Tip
Use the company default utility (Utilities > Company Defaults > Fee
Types) to add a fee to the default set of fees.
c
To select the fees from a pre-established list:
i
314
Click Add Fees From Pick-List.
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Funding loans
The Fees Pick-List dialog box is displayed.
The Fees Pick-List is created by using the Company Defaults option from
the Utilities menu.
ii
Select the fees to add and click OK.
Tip
To select multiple fees, hold the <Ctrl> key as you select each fee. To
select multiple consecutive fees, hold the <Shift> key as you select the
first and last fee.
d
To manually add fees:
i
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Click Add.
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Banker functions
The Edit Fee dialog box is displayed.
ii
Select the HUD line number from the dropdown list or enter the line number
manually.
iii Enter the fee description and select who the fee is Paid To from the dropdown
lists.
iv If the borrower is not the payer or there is more than one payer, click the
Borrower button to complete the Fee Distribution Worksheet.
v
Enter the points, additional amount, fee amount, and paid amount.
The Total Due field is automatically calculated.
vi Enter the GL code and select the accounting Fee Type from the dropdown list.
vii Select the APR Fee, Section 32 Fee, and Net From Wire check boxes if
they are applicable.
viii Click Save & New to add another fee. When you are finished adding fees,
click Save & Close.
e
To insert a fee in the middle of the list, select an existing fee on the list and click
Insert.
The Edit Fee dialog box is displayed.
Complete the dialog box as described in Step d.
The new entry is inserted above the entry that was selected when Insert was
clicked.
f
To edit a fee, select the fee to edit and click Edit to open the Edit Fee dialog box.
Edit the fields and click OK.
To delete a fee, select the fee to delete, click Delete, and click OK in response to
the confirmation prompt.
To change the sequence of the fees, select a fee and click the Move Up or Move
Down button to move the selected fee up or down in the list.
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5
Complete the Impounds section.
Tip
Use the scroll bar below the table to view the columns that are not
visible.
a
To manually add impounds:
i
Click Add.
The Edit Impound dialog box is displayed.
ii
Select the HUD line number from the HUD Line # dropdown list or enter the
number manually.
iii Select the impound from the Impound Name dropdown list.
iv If the borrower is not the payer or there is more than one payer, click the
Borrower button to complete the Impound Distribution Worksheet.
v
If the fee is included in the APR, select the APR Fee check box.
vi Select the payment frequency from the Disbursement Frequency dropdown list.
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vii Specify the amount that is paid over a year in the Annual Amount field.
viii Enter the number of months that will be collected at the close of escrow as a
cushion in the No of Months field.
The Monthly Amount and Amount Collected fields are calculated accordingly.
ix Select the Paid at Closing check box to specify that the fees in the Disb. 1
column were paid at closing, and therefore excluded from the Aggregate
Escrow Account dialog box when the Calculate Aggregate button is
clicked.
x
Select the date when the first payment is due from the Disb. 1 calendar in the
Due Dates row.
The Disb. Due Dates fields become enabled based on the disbursement
frequency selected.
The Late Date fields become enabled when a value is entered in the
corresponding Disb Due Date field.
xi Select the month and date when the payment is considered late from the
Disb. 1 calendar in the Late Dates row.
xii Continue the process for the subsequent disbursements for the disbursement
frequency selected.
xiii Click Save & New to add another impound. When you are finished adding
impounds, click Save & Close.
b
To select the impounds from a pre-established list:
i
Click Add Impounds From Pick-List.
The Impounds Pick-List dialog box is displayed.
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Note
The Impounds Pick-List is filtered to match the subject property state
and county entered in the loan file. In addition, impounds marked as
inactive in the Impounds Setup dialog box are not included.
The Impounds Pick-List is created by using the Company Defaults option
from the Utilities menu.
ii
Select the impounds to add and click OK.
Tip
To select multiple impounds, hold the <Ctrl> key as you select each
impound. To select multiple consecutive impounds, hold the <Shift> key
as you select the first and last impound.
c
To insert an impound in the middle of the list, select an existing impound on the list
and click Insert.
The Edit Impound dialog box is displayed.
Complete the dialog box as described in Step a.
The new entry is inserted above the entry that was selected when Insert was
clicked.
d
To edit an impound, select the impound to edit and click Edit to open the Edit
Impound dialog box.
Edit the fields and click OK.
To delete an impound, select the impound to delete, click Delete, and click OK in
response to the confirmation prompt.
To change the sequence of the impounds, select a impound and click the Move
Up or Move Down button to move the selected impound up or down in the list.
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6
Complete the PMI/MMI Impounds information.
Note
The mortgage information in this section corresponds to the mortgage
insurance information on the Truth-In-Lending screen and in the
PMI/MIP/FF/USDA dialog box.
a
Select the mortgage insurance rate for the initial period from the PMI/MIP/VA/
USDA dropdown list.
To enter the amount manually, click the lock box to enable the Monthly Amount
field.
b
Enter the number of months that the initial rate is effective in the Months field.
The amount is calculated and automatically populated in the Proposed Monthly
Housing Expenses section on page 2 of the Loan Application, the Mortgage
Insurance field on the Truth-in-Lending Disclosure, and the Up-Front
Mortgage Insurance/USDA Guarantee Fee field on the GFE.
c
If the mortgage insurance rate changes after the initial period, select the renewal
rate from the PMI Renewal 1 and if applicable, the PMI Renewal 2, dropdown lists.
Note
The values for the PMI rate dropdown lists are defined in the dropdown
list utility (Utilities > Dropdown Lists > Mtg Insurance).
Enter the number of months that the renewal rates are effective in the Months
fields.
d
Select the payment frequency from the Disbursement Frequency dropdown list.
e
Enter the date that the payment is due. Click the calendar button to open a
calendar.
The Payable To field is populated according to the loan type selection:
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•
If the loan is an FHA loan, the field is populated with HUD.
•
If the loan is a VA loan, the field is populated with VA.
•
All other loans are populated with the name of the mortgage insurance
company that is specified in the Insurance dialog box, if any.
f
Select who pays the premium from the Premium Paid By dropdown list.
g
To include the insurance premium in the aggregate calculation, select the Include
PMI/MMI in Aggregate Calculation check box.
h
To provide a cushion in the impound account, manually enter or select the number
of months from the Months Cushion dropdown list to have in reserves.
The Total T & I Cushion and Total T & I Collected fields are calculated.
i
To calculate the Aggregate Escrow Adjustment and view the aggregate escrow
account schedule, click the Calculate Aggregate button.
j
Click Close when finished.
Requirement
The first payment date must be entered before you can calculate the
aggregate escrow account.
k
Point User Guide
To view the GFE and Closing Fees Comparison, click the Compare GFE and
Closing Fees button.
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Banker functions
7
Complete the APR Comparison and Higher Priced Mortgage Loan sections.
a
Enter the Disclosed APR and the date it was disclosed in the corresponding fields.
b
Select the method the information was delivered from the Disclosed Method
dropdown list.
c
Complete the Re-disclosed Date, Re-disclosed APR, and Re-disclosed Method
fields if the APR changes and is re-disclosed to the borrower.
d
Enter the Average Prime Offer Rate and the date it became effective in the Higher
Priced Mortgage Loan section.
Tip
Click the Average Prime Rate Offer link to access a link to the latest APRO
table.
e
Click Calculate to calculate the difference between the final APR and the last
disclosed APR.
Important
The fields in these sections are also on other screens. When the values
are changed on this screen, the values are also changed on the other
screens where they are located.
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8
Complete the Funding Figures section.
a
Click the Program/Lock Details button to access the Program & Rate Lock
Details dialog box.
Select the tab that corresponds to the information you want to view or edit and
make the necessary changes.
The Monthly Mortgage Payment section lists the monthly amounts and provides a
total of the monthly payment to be serviced.
b
Complete the Prepaid Interest section.
i
Complete the Prepaid Interest From Date and Prepaid Interest To Date fields.
The Odd Days field is calculated based on the dates entered.
ii
If the Calendar Days Basis field is not populated from the company default
selection with the correct value, select the number of calendar days required
by the lender from the dropdown list.
The Per Diem Interest and Total Prepaid Interest fields are automatically
calculated.
iii Select the entity that will pay the prepaid interest items from the Paid By
dropdown list.
c
Complete the Wire Calculation section.
The Loan Amount, Upfront MIP, FF, Total Prepaid Interest, MIP Refund, and SRP
fields are populated based on the values entered in other fields.
i
Point User Guide
If the loan was originated by a broker and the yield spread premium will be
included in the wire amount, enter the broker yield spread premium in the
Broker YSP field and press the <Tab> key.
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Banker functions
ii
Select the check box next to any fees to exclude that fee from the wire
calculation.
iii If the loan is a home equity line, enter the amount of the first draw at closing in
the Initial HELOC Draw Amount field and press the <Tab> key.
The Wire Amount field is calculated.
iv If the yield spread premium is based on the initial HELOC draw amount,
select the HELOC YSP Based on Initial HELOC Draw Amt check box.
The Broker YSP and Wire Amount fields are adjusted accordingly.
d
Click the Create Funding Figures Worksheet button to generate the worksheet.
The Funding Figures Worksheet is generated and is displayed on the screen.
e
Enter a file name if the File Name field is not pre-populated.
Requirement
A file name is required when the E-mail as PDF File or Save as PDF File
option is selected. The OK button is disabled if the File Name field is
blank. Enter a file name to enable the button.
f
Select one of the following options from the Output Option dropdown list and click
OK.
•
E-mail as PDF File
The document is added to the document repository and the Set PDF
Password dialog box is displayed.
iTo password protect the document before sending, select Protect with
Password and enter the password in the Password field. Otherwise,
select Do Not Protect with Password.
An e-mail window from your default e-mail application opens with the form
attached as a PDF document.
iiComplete your e-mail and send it as you normally would.
•
Print
The document is added to the document repository and the Print Document
dialog box is displayed. Click OK to proceed with printing.
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•
Save as PDF File
The document is added to the document repository and the Set PDF
Password dialog box is displayed.
To password protect the document before saving, select Protect with
Password and enter the password in the Password field. Otherwise, select Do
Not Protect with Password.
The document is added to the document repository.
9
Complete the Dates section.
Most of these fields are already populated from information that was entered in other
Point screens. In the fields that are not prepopulated, enter the date when the event
occurred.
Related information
•
Refer to Specifying the number of days in a calendar year, on
page 30 for information about specifying the default number of
calendar days.
•
Refer to Defining fee types, on page 49, and Defining impound
types, on page 52, for information about setting up default fee and
impound types lists.
•
Refer to E-mailing forms, on page 131, for information about
setting PDF passwords and e-mailing forms.
•
For information about the document repository, refer to Electronic
document storage, on page 589.
•
Refer to Program and rate lock details, on page 389, for
information about the Program & Rate Lock Details dialog box.
Closing loans
The Banker > Closing Documents menu contains screens that are typically used by
the closer/funder to enter information that is relevant to lenders when they order closing
documents.
The Closing Documents menu contains the following screens:
•
•
•
•
•
Point User Guide
Basic Loan Information
Borrower
Closing Instructions
Construction Loans/Contractors
HUD-1 Settlement Statement
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Banker functions
•
•
•
•
•
HUD-1A Settlement Statement
Loan Program Information
Property Information
State Specific Information
Trust
Basic Loan Information
The Basic Loan Information screen contains general information about the loan and
pertinent dates. Much of the data provided is for informational purposes and is populated
from other screens and cannot be edited.
The following buttons, located at the bottom of the workspace, provide additional
functionality:
Appraisal
The Appraisal button opens the Appraisal Information dialog box which is
used to record information about the property appraisal.
Insurance
The Insurance button opens the Insurance dialog box which contains
information about the mortgage, hazard, and flood insurance for the property.
Escrow & Title
The Escrow & Title button opens the Escrow & Title Information dialog box
which contains the escrow, title, and wire information.
Payoffs
Use the Payoffs button to open the Payoffs dialog box. This dialog box contains
information about liens and other liabilities that are to be paid at the close of
escrow and corresponds to the Lien Payoffs and Other Payoffs tabs in the Title/
Escrow Request dialog box.
HUD-1
Use the HUD-1 button to open the HUD-1 screen which is used itemize charges
by the lender to the borrower and the seller for purchase transactions.
To complete the Basic Loan Information screen:
1
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Open a borrower file.
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Closing loans
2
Select Banker > Closing Documents > Basic Loan Information.
The top portion of this screen contains general loan and underwriting information.
Most of these fields are prepopulated with information that was entered in other
screens such as the Borrower Information and Underwriting screens.
Most of the Investor Information section is populated from information that was
generated when the closing documents were requested and from other Banker
screens.
3
Complete the remaining fields in the Investor Information section.
a
In the MERS Purchaser Org ID field, enter the MERS ID number for the lender or
investor who is purchasing the loan.
b
Select the Investor Address as Return to on Assignment check box to print, in
addition to existing assignments, an assignment from the lender or broker to
MERS.
When this check box is selected, the MERS information and MERS ID number will
not print on any documents other than the assignment.
4
c
Select the Endorsement on Note from Lender to Investor check box to print an
endorsement on the note from the lender to the investor.
d
Select the Assignment to MERS only check box to specify that the investor’s
address be added to the assignment as the return address for the recorded
instrument.
e
Select the Investor to blank on Assignment check box to print an assignment
from the investor to blank.
f
Select the Has no MERS ID # check box when the investor who purchases the
loan is not a MERS subscriber. This action will print an assignment from MERS to
blank.
Complete the Sellers section.
a
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Click Add.
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Banker functions
The Edit Seller dialog box is displayed.
b
If the seller is a trust or corporation, select the Seller is a Trust or Corporation
check box.
c
Enter the name of the seller in the Name fields.
d
Enter the name of the company or trust in the Company or Trust field.
e
Select the Relationship on Title from the dropdown list.
f
Enter the seller’s address, telephone and fax numbers, and e-mail address.
g
Click Save & New to enter additional sellers on the title.
When you are finished entering sellers, click Save & Close.
Use the Insert, Edit, and Delete buttons to add, change, or remove entries. Use
the Move Up and Move Dn buttons to move entries up or down in the list.
5
328
Complete the Dates section with the completion dates for each event.
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Closing loans
6
Complete the Rate Lock section.
a
Click the Program/Lock Details button to access the Program & Rate Lock
Details dialog box. Select the tab that corresponds to the information you want to
view or edit and make the necessary changes.
b
Enter the amount that the borrower is approved to receive as a draw against the
Home Equity Line of Credit in the Initial HELOC Draw field.
c
If the refinance is a subject of a loss mitigation effort, select the Loss Mitigation
Loan check box.
d
In the H4H Junior Lien Amt field, enter the amount of the Hope for Homeowners
Junior Lien on the second mortgage.
The remaining data is provided in this section for informational purposes.
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Banker functions
7
To order documents by using the services of a document provider through the Calyx
Services interface:
If the Product Name and Product Code fields are already populated with the products
that you need for this loan, proceed to Step d.
a
Click the Select Product button to specify the product name, code, and document
investor.
The Select Product dialog box is displayed.
b
If the investor list is not populated, click Update Products to select a product,
code, and investor or click the lock boxes to enable the fields for manual entry.
c
Select the investor and product to use for this loan from the Select Product
window and click Select Product.
The Product Name, Product Code, and Doc Investor fields are populated based on
your selections.
d
Click Request Documents to process the request for the documents from the
selected investor.
e
After the documents are requested, click View Documents at any time to view
and print the documents.
f
To view the loan analysis, click View Analysis.
g
Enter any additional instructions to the closing agent in the Special Instructions
field.
If you are not using the service of a document provider through the Calyx Services
interface, enter the document provider name in the Doc Provider field. Enter the
information manually or use the Cardex database to complete this field.
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8
9
Complete the Doc Processing section.
a
Select the entity for whom the documents are being requested (Broker, Investor, or
Lender) from the Docs In Name Of dropdown list.
b
Specify where the documents are being sent and the method by which they are
delivered in the Docs Sent To and Method Docs Sent dropdown lists.
c
Select the Mail Away check box if the closing documents were mailed for
signatures rather than signed in person.
d
Select the Doc Preparer from the dropdown list or enter their name and contact
information manually.
e
Enter the location where the documents were executed in the Address, City, State,
and Zip fields.
Complete the Closer/Funder section with the name, contact information, and business
hours of the person who is processing the closing of the loan.
10 Enter the name and address of where the note is to be paid in the Note Pay To
section.
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Banker functions
Related information
•
Refer to Program and rate lock details, on page 389, for
information about the Program & Rate Lock Details dialog box.
•
Refer to Specifying investors and products, on page 438, for
more information about selecting products and investors.
•
Refer to Ordering title and escrow, lien payoff information, on
page 461, for information about specifying payoff information for
liens against the subject property.
•
Refer to Chapter 21, Contact management (Cardex), for
information about using the Cardex database.
Borrower
The Borrower screen contains general information about the borrower, such as name,
address, and credit information.
To complete the Borrower screen:
1
Open a borrower file.
2
Select Banker > Closing Documents > Borrower.
The borrower and co-borrower names, social security numbers, and date of birth
fields are populated from information entered in the Borrower Information screen.
3
Complete the Borrower Information section.
a
332
Select the Not Obligated (on Title only) check box to indicate that the borrower
or co-borrower is to appear on the title, but that they are not obligated on the loan.
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Closing loans
4
b
Specify whether the borrower or co-borrower is only a co-signer by selecting the
corresponding Co-Signer Only check box.
c
Select the Yes or No check box to indicate whether the borrower has had a VA
loan in the past.
Complete the Credit section.
If credit was requested from the Services > Credit Report > Request Credit menu,
the credit scores fields are already populated with the consumer reporting agency
credit scores and the date they were requested.
a
Request credit from the Services > Credit Report > Request Credit menu.
b
If one of the borrowers’ credit reports contains an inquiry that negatively affects
their credit score, select the applicable check box for the borrower or co-borrower
and enter the date of the inquiry in the Date field.
5
In the Complete Final Vesting On Deed of Trust/Mortgage field, enter how the final
deed is to be recorded.
6
Add any borrower aliases.
a
Click Add.
The Edit Alias dialog box is displayed.
b
Select the borrower or co-borrower name from the dropdown list, select the alias
type, and enter the first, middle, last, and suffix, if any, of the alias.
The Borrower or Co-Borrower check box is automatically selected accordingly.
c
Click Save & New to enter additional aliases.
When you are finished entering aliases, click Save & Close.
Use the Insert, Edit, and Delete buttons to add, change, or remove entries. Use
the Move Up and Move Dn buttons to move entries up or down in the list.
Restriction
You can enter up to a maximum of 10 aliases.
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Banker functions
Note
The Borrower Aliases section is also located on the FHA Refi of
Borrowers in Neg Equity (HUD-92918) screen.
7
Complete the Power of Attorney section if someone is acting on behalf of the
borrower or co-borrower.
a
Enter the name of the person who is signing in the Brw or Co-Brw field.
b
Select the Signing Capacity option from the dropdown list.
Related information
Refer to Requesting services, on page 430, for more information about
requesting credit reports.
Closing Instructions
The Closing Instructions screen provides closing instructions that include instructions
to the title company, conditions and forms to include, underwriting conditions, title and
escrow information, and wiring information.
To complete the Closing Instructions screen:
1
334
Open a borrower file.
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Closing loans
2
Select Banker > Closing Documents > Closing Instructions.
3
Complete the Instructions to the Title Company/Settlement Agency section.
a
If a title policy is not required for the transaction, select the Waive Title Policy
check box. Used only for second liens.
b
Select the Include Title Policy Agreement check box to include the agreement
between the borrower and the title company that allows the title company to
correct errors in documents.
c
Select the applicable check boxes for Schedules A, B, and C. Enter additional
instructions for the closing agent in the blank fields.
The following table defines the check boxes in this section:
Point User Guide
Field
Definition
Affidavit of non-production
Used when the property is subject to a prior oil
and gas lease or term mineral or royalty burden
that appears to have expired by its own terms,
but has not been released of record. The affidavit
states that there is no current production from
the property that would maintain the lease or
perpetuate the term mineral or royalty interest.
Borrower names must match
Instructs the closing agent to ensure that the
borrowers’ names on the title commitment are
exactly the same as set forth on the note.
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Banker functions
Field
Definition
Homeowner’s lien not subordinate
The home owner’s lien must be subordinate to
the subject lien and the title policy must so state
or should not be shown as an exception on the
title policy. If the HOA lien will not subordinate
the subject lien, the lender must authorize prior
to proceeding.
Liens paid in full
Indicates that all liens must be paid in full and
released.
Mineral rights agreement
Indicates that a Mineral Rights Agreement is
required.
Seller name on contract
Indicates that the title to the property on the title
commitment and the sellers signing the sales
contract must be one and the same.
Tax liens paid in full
Indicates that all tax liens and judgments must be
paid in full or obtain not one and same person
affidavit so that exception can be deleted from
the title commitment and title policy.
Title insurance for loan amount
Indicates that the amount of title insurance
coverage required is equal to the loan amount.
Update title commitment
Indicates that an updated title commitment is
required if the date of the existing commitment
will exceed the date of loan disbursement by 60
days or more.
d
If requesting form 4506, select the Tax Return Type from the dropdown list and
enter the period ending dates for which you are making the request.
e
Select the applicable Conditions & Forms check boxes.
The following table defines the check boxes in this section:
Field
Definition
Attach legal description
Indicates that the legal description will not be
printed on the actual legal document and will be
attached on a separate piece of paper.
Exclude arbitration rider
Excludes the arbitration rider from the closing
package.
FHA inspection waiver
Indicates that the borrower is waiving the fiveday waiting period for execution of the
Homebuyer Summary - Notice to the Homebuyer
form.
This check box is applicable only when FHA is
selected as the loan type.
FHA R/E certification
Indicates that FHA real estate certification must
be executed at loan closing.
FHA/VA airport noise certification
Indicates that an airport noise certification is
required.
This check box is applicable only when FHA or
VA is selected as the loan type.
FHA/VA HUD warranty
Indicates that a Builder’s Warranty form (HUD92544) is required.
This check box is applicable only when FHA or
VA is selected as the loan type.
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Final inspection required
Indicates that a final inspection is required.
Flood insurance
Indicates that the flood insurance notice is
required.
Calyx Software
Closing loans
Field
Definition
HELOC Rescission
Indicates that a three-day rescission notice is
applicable and required for the loan because the
property is the borrower’s primary residence.
High cost loan disclosure
Indicates that a high cost loan disclosure is
required.
Hold harmless
Indicates that a Hold Harmless form is required
and must be signed by all borrowers. Enter the
condition in the space provided.
This check box is applicable when Conventional
or VA is selected as the loan type.
Homeowner warranty required
Indicates that a homeowner’s warranty is
required for the subject property.
Inspection report required
Indicates that an inspection report is required for
the subject property.
This check box is applicable when Conventional
or VA is selected as the loan type.
f
Point User Guide
Occupancy affidavit
Indicates that an occupancy affidavit must be
signed by all borrowers who will occupy the
property.
Septic approval required
Indicates that an acceptable health authority
approval of the septic system is required.
Signed 1003
Indicates that a signed and dated loan application
is required.
Signed IRS 4506
Indicates that an IRS form 4506 signed by the
borrowers is required.
Signed tax returns
Indicates that the borrowers’ signed and dated
tax returns are required.
Survey required
Indicates that a survey is required for the subject
loan closing.
Tax shock
Generates the Notice of Potential Deficiency in
Escrow Account form for the subject loan.
Waive survey
Indicates that a survey is not required.
Waive termite inspection
Indicates that a termite inspection is not required.
Water well approval required
Indicates that an acceptable health authority
approval of the water system is required and
must be signed by all borrowers.
Select the check boxes in the Application Disclosure Forms section of the forms
to be included in the closing documents package.
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Banker functions
4
5
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Complete the Underwriting Conditions section.
a
In the Paid in Full Receipts Description field, enter instructions to the closing agent
to ensure that specified accounts and balances are paid in full.
b
In the Proof of Sale Description field, enter the property description and net dollar
amount to advise the closing agent to obtain proof of sale of the property as
required by the underwriter.
c
In the Contract Corrections field, enter instructions for the closing agent to make
corrections to the contract as required by the underwriter.
Complete the Title/Escrow Information section.
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Closing loans
Most of the fields in this section are also in the Title & Escrow Information
dialog box. If you make changes to any of these fields in either location, the
corresponding fields are also updated.
Tip
Some of this information is automatically populated if escrow and title
were requested through the Point Services interface (Services > Title/
Escrow > Request Title/Escrow).
a
Enter the Assessor’s Parcel No.
b
Enter the tax year and select the status of the taxes from the dropdown list.
c
Complete the Approved, ALTA Endorsements, and Long Legal Description fields.
d
Enter the order number in the Order No field.
e
Enter the preliminary date in the Prelim Date field.
f
If this is a table funded transaction, select the Table Funded Transaction check
box.
g
Enter the funding number.
h
Enter the title company name and contact information.
i
Select the Lender Affiliate check box if the title company is affiliated in any way
with the lender (controlled by the lender, controls the lender, or is under common
control by another company with the lender).
j
Select the Wire Disbursements check box if the loan proceeds will be in the form
of a wire transfer.
k
If the county and state of the notary are different from that of the title company,
enter them in the corresponding fields.
l
Enter the escrow company name and contact information.
m Select the type of entity that is handling the loan escrow from the Type dropdown
list.
6
Point User Guide
n
Select the Lender Affiliate check box if the escrow company is affiliated in any
way with the lender (controlled by the lender, controls the lender, or is under
common control by another company with the lender).
o
Enter the policy number in the Policy/File No field.
Complete the Wire To section.
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Banker functions
Most of the fields in this section are also in the Escrow & Title Information
dialog box. If you make changes to any of these fields in either location, the
corresponding fields are also updated.
a
Enter the amount of the wire transfer or check to be disbursed in the Wire/Check
Amount field.
b
Enter the information for the company that is to receive the wire transfer.
c
Complete the ABA #, Account #, Ref. #, Further Credit, and Account # fields.
Related Information
For more information about the Escrow & Title Information dialog box,
refer to 7
Construction Loans/Contractors
The Construction screen provides closing instructions for construction loans.
To complete the Construction screen:
1
Open a borrower file.
2
Select Banker > Closing Documents > Construction.
3
Complete the Construction Loan Terms section.
a
Enter the amount of the advance in the Advance Amount field.
This field is applicable only for conventional one-time close loans.
340
b
Enter the interest rate that is to be charged during the construction phase of the
loan in the Interim Rate field.
c
Enter the amount of improvements to the property that was paid outside of closing
in the Alterations, Improvements, Repairs POC field.
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Closing loans
4
d
Enter the contingency amount that was paid outside of closing in the Contingency
Reserve POC field.
e
If the disbursement is on a five-draw schedule, select the Five Draw Schedule
check box.
Complete the Escrow Account section.
a
Select who is to receive the escrow holdback funds from the Payable To dropdown
list.
b
Select who, Borrower or Lender, is to receive the interest earned on the escrow
account for the loan.
c
Select Long or Short to specify which version of the Agreement Version to print.
d
Enter the name of the entity that is holding the funds in the Funds Held By field.
e
Enter the amount of escrow funds to be held back in the Total Holdback Amount
field.
f
Enter the amount of the holdback that was paid by the borrower in the Amount
Buyer Paid field.
5
6
Complete the FHA 203(k) Rehabilitation section.
a
Enter the Total Escrow Holdback.
b
Enter the Rehab Escrow Rate.
Add any builders and contractors associated with the property.
a
Click Add.
The Edit Builder/Contractor dialog box is displayed.
Point User Guide
b
Select whether the Construction Type is a General Contractor or Other.
c
To indicate the builder is operating under an assumed name when builder is an
individual, select the Operates as DBA check box.
d
Select the Builder is owner of property check box when the builder owns the
property.
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Banker functions
e
Specify the business type of the builder by selecting an option from the Entity Type
dropdown list.
f
Enter the builder name, partner name, address, and telephone and fax numbers.
g
Enter the license number of the builder and the state where the builder is licensed.
h
Enter the names of the persons authorized to sign on behalf of the builder and
their titles in the Authorized Signature 1 and 2 and Title 1 and 2 fields.
i
Complete the Mechanic’s Lien Information section.
i
Enter the proposal bid amount, completion date, note amount, bid date, and
escrow amount in the corresponding fields.
ii
Select the Require Survey on Completion check box if a survey is required
upon completion of construction.
iii Select the For Swimming Pool check box if the mechanic’s lien is for
construction of a swimming pool.
j
Click Save & New to enter additional builders/contractors.
When you are finished entering builders/contractors, click Save & Close.
Use the Insert, Edit, and Delete buttons to add, change, or remove entries. Use the
Move Up and Move Dn buttons to move entries up or down in the list.
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Generating the Settlement Statement (HUD-1)
The HUD-1 and HUD-1A screens are used to itemize all charges by the lender to the
borrower and the seller, sales commissions, and any other settlement charges to be paid
by the borrower and seller. The HUD-1, which is used for purchase transactions, is
comprised of three pages:
•
•
•
a summary of both the borrower and seller transactions
an itemized list of the fees and impounds
a summary of the fees and impounds
The HUD-1A, which is used for refinance transactions, is comprised of two pages:
•
•
an itemized list of the fees and impounds
a summary the fees and impounds
Charges that are not part of the settlement are included on the HUD-1 but marked as paid
outside of closing.
The following buttons, located at the bottom of the workspace, provide additional
functionality:
HUD-1A
Use the HUD-1A button to open the HUD-1A screen which is used itemize
charges by the lender to the borrower for refinance transactions.
Closing
The Closing button opens the Basic Loan Information screen which is used by
the closer/funder when ordering closing documents.
To complete the HUD-1:
1
Open a borrower file.
2
Complete page one of the HUD-1 Settlement Statement.
a
Select Closing & HUD-1 > HUD-1 Settlement Statement > Page 1.
Tip
You can also access page one of the HUD-1 Settlement Statement by
pressing the HUD-1 button at the bottom of the Banker> Closing
screen.
Page one of the HUD-1 Settlement Statement is displayed.
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Banker functions
Sections B through I are automatically populated with information that was
entered in other screens.
b
3
Manually complete sections J and K, Summary of Borrower’s Transaction and
Summary of Seller’s Transaction.
Complete page two of the HUD-1 Settlement Statement.
a
Select Closing & HUD-1 > HUD-1 Settlement Statement > Page 2.
Page two of the HUD-1 Settlement Statement is displayed.
344
b
Enter how the commission is to be divided on lines 701 and 702.
c
Enter the amount paid by the borrower and the seller on line 703.
d
Enter any additional payments and the amount that the borrower and seller are
paying on line 704.
e
To automatically enter the fees onto the screen from the Fees Worksheet, click
the Copy from Fees Worksheet button.
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Closing loans
The Copy Fees Worksheet to HUD-1 dialog box is displayed.
The Fee Name column contains the fees which have a value on the Banker >
Fees & Impounds or the HUD-1 screens. The fee is not included on the list if
both values are empty.
i
Select the check boxes that correspond to the fees to be entered on the
HUD-1.
Click Select All to select all the fees.
ii
f
Point User Guide
Click the Yes button to copy the selected fees. Clicking No does not copy any
fees.
To automatically enter the fees and impounds on the screen from the Banker >
Fees & Impounds screen, click the Copy from Fees & Impounds button.
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Banker functions
The Copy Fees & Impounds to HUD-1 dialog box is displayed.
The Fee Name column contains the fees and impounds which have a value on the
Fees Worksheet or the HUD-1 screens. The fee or impound is not included on
the list if both values are empty.
i
Select the check boxes that correspond to the fees to be included on the
HUD-1.
Click Select All to select all the fees.
ii
g
4
Click the Yes button to copy the selected fees. Clicking No does not copy any
fees.
Review the fees and impounds and add and change them as needed.
Select Closing & HUD-1 > HUD-1 Settlement Statement > Page 3.
Page three of the HUD-1 Settlement Statement is displayed.
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Closing loans
The top portion of page three contains a summary of all borrower paid fees and a fee
comparison from the HUD-1 and Good Faith Estimate.
The bottom portion of page three contains a summary of the loan terms.
Loan Program Information
The Loan Program Information screen provides information about the mortgage rate
and other features.
To complete the Loan Program Information screen:
1
Point User Guide
Open a borrower file.
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Banker functions
2
Select Banker > Loan Program Information.
3
Complete the Adjustable Rate Mortgage section.
Most of this information will be populated if the Truth-In-Lending or ARM
Disclosure (Initial) screens were already completed.
a
Select the index that the rate is based on from the ARM Index Type dropdown list.
b
Select the plan number from the ARM Plan # from the dropdown list.
c
Complete the Index Value, Margin, Initial Cap, Periodic Cap, Life Cap, and Floor
fields.
If these fields were completed in the ARM Disclosure (Initial) or Truth-InLending screens, they will populate automatically. If they are edited in any of
these screens, all screens will re-populated with the updated information.
4
5
Complete the Convertible Mortgage section.
a
If the mortgage is convertible to a fixed rate mortgage, select the Convertible
Mortgage check box.
b
Enter the Conversion Fee percentage and the dollar amount of the fee.
c
Enter the Additional Percent of the fee if the loan term is longer than 15 years and
if it is shorter than 15 years.
Complete the Payment Adjustments section.
a
Enter the Initial Cap percentage and the number of months.
b
Enter the Periodic Cap percentage and the number of months.
If these fields were completed in the ARM Disclosure (Initial) or Truth-InLending screens, they will populate automatically. If they are edited in any of these
screens, all screens will re-populated with the updated information.
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c
6
Select the Potential Neg Am Type from the dropdown list.
Complete the Mortgage Insurance section.
Many of these fields are also located on the Registration & Rate Lock screen, the
Insurance dialog box, which is accessible from most of the Banker screens, and the
PMI/MIP/FF/USDA dialog box, which is accessible from the Borrower
Information screen. Edits made to fields on these screens will populate the same
fields on the other screens.
Complete the remaining fields as needed.
7
Complete the Prepayment Penalty section.
a
If there is a prepayment penalty, select the Prepayment Penalty check box.
The fields in this section become enabled.
b
Select whether the Penalty Type is Hard or Soft from the dropdown list.
c
Enter the penalty code in the Penalty Code field.
The code defines the verbiage that is to print on the closing documents.
d
Enter the Penalty Rate and Amount.
e
Enter the Duration of the penalty phase.
f
Enter the date when the prepayment penalty term ends in the Prepay Cutoff Date
field.
g
Enter the dollar amount of the penalty if the loan is paid off the day following
closing in the Penalty Amount field.
This entry is required for the state high cost points and fees test and applies when
the loan type is Conventional.
8
Complete the Other Program Features section.
a
Enter the repayment in the Repayment field.
b
Enter the type of repayment in the Repayment Type field.
The Loan Maturity date field should already be populated based on other
information that was entered in the loan file.
c
Point User Guide
Select the day of the month that the loan payment is to be remitted.
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Banker functions
d
Enter the Late Charge Amount and the minimum and maximum that you can
charge in the Min. and Max. fields.
e
Select the Eligible for Timely Payment Rewards if the borrower is eligible for
rewards with on-time payments.
The Reduction Percentage field is enabled.
f
Enter the percentage that their interest rate is reduced in the Reduction
Percentage field.
g
Enter the Interest Only Term.
h
Select the Assumable option that is applicable to this loan.
i
Enter the rate the borrower would have received if they did not pay discount points
in the Undiscounted Rate field.
j
If the loan is a high risk according to FNMA, FHLMC, or other investor guidelines,
select the PMI High Risk check box.
The Type dropdown list becomes enabled.
k
9
Select the Type from the dropdown list.
Complete the Temporary Buydown Information section.
a
If the loan has a temporary buydown or subsidy agreement, select the Buydown
Temporary Subsidy check box.
b
Select the third-party source of the subsidy or buydown from the Contributor
dropdown list.
c
Enter the amount of the subsidy in the Subsidy Amount field.
d
Enter the number of months the third-party will subsidize the loan in the Subsidy
Months field.
e
Enter the Original Buydown Amt.
f
Enter the Final Buydown Rate.
g
Select the Buydown Type from the dropdown menu and complete the Term (mths)
field.
The Rate fields are populated with the values based on the selected buydown
type.
Property Information
The Property Information screen summarizes details about the property.
To complete the Property Information screen:
1
350
Open a borrower file.
Calyx Software
Closing loans
2
Select Banker > Property Information.
3
Complete the Subject Property section.
If the subject property fields are completed in the Borrower Information screen,
the address fields are already populated.
Point User Guide
a
Select the type of city from the City Type dropdown list.
b
Select the Free and Clear check box if there are no existing liens against the
property and the borrower owns the property free and clear.
c
Select the Record in City check box to record the property in the city rather than
the county.
d
Select the Property Type.
e
Enter the Gross Living Area and Bedroom Count and specify whether it is a 1 to 4
Family unit or a Community Land Trust.
f
Select who owns the subject property from the Property Owned By dropdown list.
g
Select the construction status of the property from the Building Status dropdown
list.
h
Select the Freddie Mac and Fannie Mae project classification and PUD type.
i
Complete the recording and judicial information fields.
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Banker functions
4
352
Complete the PUD and Projects, Manufactured Home, and Leasehold sections.
a
If the property is a planned unit development, select the PUD check box and
complete the fields in this section.
b
If the property is a manufactured home, select the Manufactured Home check
box to enable and complete the fields in this section.
c
If the property is a leasehold estate, enter the Lessee Name, Lessor Name,
Recording Description, and Original Lease Date.
Calyx Software
Closing loans
5
6
Point User Guide
Complete the Appraisal and Valuation section.
a
Enter the estimated value of the property.
b
If an appraisal was completed and the Appraisal Information dialog box was
completed (Banker > Underwriting), the Appraised Value field is populated with
the appraised value of the property. Otherwise, enter the appraised value.
c
Select the method that was used to appraise the value from the Valuation Type
dropdown list.
d
Specify the Estimate of Value Should Be and the Appraisal Type.
e
Select the type of Frannie Mae, Freddie Mac, or VA appraisal that was ordered.
Complete the Flood Hazard Determination section.
a
Select the Subject Property is in a Flood Zone check box if the property is in a
flood zone.
b
Select the Property Partially in Flood Zone check box if the property is partially
in a flood zone.
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Banker functions
c
Complete the flood certification fields.
Tip
These fields are automatically populated when a flood certification is
requested by using the Point services (Services > Flood Certification >
Request Flood).
State Specific Information
The State Specific Information screen provides information that is specific in the state
where the property is being sold.
Important
Not all of these fields apply in all states. Refer to your state and local real
estate regulations for more information about which fields apply in your
area.
The State Specific Information screen is accessible by selecting Banker > Closing
Documents > State Specific Information.
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The following table provides definitions of the fields and check boxes in the State
Specific Information screen.
Field
Definition
Excluded Attorney Fees
The total amount of attorney’s fees that the lender’s
corporate policy determines are not required for state
high cost testing purposes.
Excluded Lender Affiliate Fees
The total amount of the borrower paid lender/affiliate
fees that can be excluded from the state high cost test.
Excluded Premiums
The portion of the broker’s yield spread premium/over par
premium/service release premium (YSP) that can be
excluded from the state high cost APR and fees/points
test under certain conditions.
Excluded Prepay Penalty
The portion of the prepayment penalty that qualifies to be
excluded.
This field is applicable when the loan type is Conventional
and the Prepayment Penalty check box is selected.
Excluded Total Fees
The total amount of fees that the lender’s corporate
policy determines are not required for state high cost
testing purposes.
FNMA Rehabilitation
Indicates that the lender will be closing the loan by using
FNMA Rehabilitation documents. This check box is
applicable when the loan type is Conventional and the
Home Improvement check box is not selected.
HELOC Draw Admin Fee
The amount of additional fees that the borrower might
incur in the future if they should draw down the loan in
an amount equal to the total line of credit.
This field is applicable when the loan type is Conventional
and the loan program is HELOC.
High cost loan
Indicates this is a high cost loan.
Originated by exempt agency
Indicates that certain government agencies or
government sponsored loans might be exempt from the
state high cost test according to state-specific conditions.
Owelty of partition
Indicates that one co-owner is buying the interests of
another co-owner using 100% of the interests as
collateral to acquire the property.
Also located on the Recording screen.
Points Paid on Prior Loan
The dollar amount of fees and points paid by the
borrower on any prior loan that is being refinanced by the
subject loan if the prior loan is closed within the previous
two years.
Prepay Amt on Prior Loan
The amount of all prepayment fees and penalties paid by
the borrower on the previous loan on the subject property
if the prior loan was made or currently held by the same
lender or lender’s affiliate that is originating this loan.
This field is applicable when the loan is a Refinance.
This field is applicable only when the loan type is
Conventional.
Providence fail
Indicates that a condition is present that will result in the
test failing.
Purchase money transaction
Indicates that the transaction is made with a payment of
money or the equivalent of collateral.
Also located on the Recording screen.
Renewal and extension of
liens against homestead
Point User Guide
Indicates that the note is in renewal and extension.
Also located on the Recording screen.
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Banker functions
Field
Definition
Required Total Fees
The total amount of fees that the lender’s corporate
policy determines are required for state high cost testing
purposes.
Texas (A6) home equity
Indicates that the loan is to be treated as a Texas (A6)
home equity loan when the property resides in Texas.
1
Complete the State High Cost section.
2
Add any Renewals and Extensions of Liens.
a
Click Add.
The Edit Renewal and Extension of Lien dialog box is displayed.
b
Select the Lien Type from the dropdown list.
c
Enter the loan date, amount, and rate in the Note Date, Note Amount, and Note
Rate fields, respectively.
d
Enter who the loan is payable to in the Payable To field.
e
Enter the names of the parties who executed the original existing lien.
Vesting information is not referenced in this field. This field is required when the
Renewal and Extension of Liens Against Homestead check box is selected
except when a property tax lien.
f
Enter the name of the loan trustee in the Trustee Name field.
g
Enter the recording information for the applicable lien which is being renewed and
extended, for example, Volume 68150, Page 5068, in the Recording Information
field.
This field is required when the Renewal and Extension of Liens Against
Homestead check box is selected except for VLB with two notes. The Recording
Information field is not used for property tax liens or federal tax liens and does not
allow data entry. Use the Additional Recording Information field for this purpose.
h
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Enter additional recording information for the applicable lien in the Additional
Recording Information field.
Calyx Software
Closing loans
This field is used to record the following information:
•
Information for the security instrument when a mechanic’s lien is secured by a
deed of trust or mortgage.
•
Federal tax lien filing information.
•
Property tax lien cause number.
i
Select the Contemporaneously check box if the lien occurs concurrently with other
liens.
j
Select the For Swimming Pool check box if the lien is for construction of a
swimming pool.
k
Click Save & New to enter additional liens.
When you are finished entering liens, click Save & Close.
Use the Insert, Edit, and Delete buttons to add, change, or remove entries. Use
the Move Up and Move Dn buttons to move entries up or down in the list.
Trust
The Trust screen contains information about the trust.
To complete the Trust screen:
1
Open a borrower file.
2
Select Banker > Trust.
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Banker functions
3
Enter the name of the primary trust. If the trust is not a person, click the Non-Person
check box.
4
Select the type of trust from the Type dropdown list.
5
Enter the trust number in the Number field.
6
Enter the date the trust was established and the state where the trust is located.
7
Enter the state where the trust was established.
8
Complete the secondary trust information.
9
Complete the Trustee, Settlor/Grantor, and Beneficiary sections.
a
Click Add.
The Edit Trustee (or Settlor/Grantor or Beneficiary) dialog box is displayed.
b
Enter the Name, City, State, and County of the trustee, settlor/grantor, or
beneficiary.
c
Select the Trustee Type, if applicable, and the Associated Trust.
d
If the trustee, settlor/grantor, or beneficiary is not a person, select the Non-Person
check box.
e
Click Save & New to enter additional entries.
When you are finished, click Save & Close.
Use the Insert, Edit, and Delete buttons to add, change, or remove entries. Use
the Move Up and Move Dn buttons to move entries up or down in the list.
Restriction
You can enter up to a maximum of 10 each trustees, settlor/grantors, and
beneficiaries.
Submitting and tracking warehouse lender loans
The Warehouse & Purchase Advice screen is used to track the warehouse lender who
is funding the loan and document the investor purchase advice. This screen is also used
to record the date and amount of the repayment of the warehouse advance from the
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Submitting and tracking warehouse lender loans
proceeds of the loan sale, and to track the warehouse costs of each funded loan between
the warehouse advance date and the warehouse repayment date.
The following buttons, located at the bottom of the workspace, provide additional
functionality:
Appraisal
The Appraisal button opens the Appraisal Information dialog box which is
used to record information about the property appraisal.
Insurance
The Insurance button opens the Insurance dialog box which contains
information about the mortgage, hazard, and flood insurance for the property.
Escrow & Title
The Escrow & Title button opens the Escrow & Title Information dialog box
which contains the escrow, title, and wire information.
To use the Warehouse & Purchase Advice screen:
1
Point User Guide
Open a borrower file.
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Banker functions
2
Select Banker > Warehouse & Purchase Advice.
The Borrower Information, Subject Property, Loan Type, Lien Position, Amort. Type,
and Commitment sections are populated from information that was previously
entered in other Point screens.
To override the automatically generated value in the MERS # field, select the check
box and enter the MERS # manually.
360
3
If not already populated, enter the Worksheet No.
4
Edit any other information as needed. You cannot edit fields that are disabled.
Calyx Software
Submitting and tracking warehouse lender loans
5
Complete the Warehouse Lender Information section.
The warehouse lender is the funding source of the loan.
a
Select the lender from the Warehouse Lender dropdown list. The lender information
is automatically populated from the lender profile.
If the lender you want is not on the list, create a profile for that lender in the
company default utility or enter the information manually.
Tip
To avoid repetitive data entry, use the company default warehouse lender
utility (Utilities > Company Defaults > Warehouse Lenders) to
create profiles for warehouse lenders that you use.
Point User Guide
b
Enter the number that was assigned by the warehouse lender that identifies the
advance amount in the Warehouse Lender Loan No field.
c
Enter the unique 9-digit warehouse lender routing number that was assigned by
the American Banker’s Association in the ABA No field.
d
Enter the name of the financial services entity that receives the warehouse
advance from the warehouse lender in the To Credit Name field.
e
Enter the lender’s account number where the warehouse advance will be
deposited when the warehouse lender wires the funds in the Account No field.
f
Enter the name of the individual who should be notified when the funds from the
warehouse lender are deposited in the bank account in the To the Attention of
field.
g
Enter the name of the person who is authorized to sign on the lender account in
the Authorized Signer Name fields.
h
Enter any restrictions in the Warehouse Lender Restrictions field.
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Banker functions
6
Complete the Warehouse Advance section.
a
Select the type of warehouse advance that the lender is requesting from the
warehouse lender from the Advance Type dropdown list.
b
Enter the advance fee in the Advance Fee field.
The Loan Interest Rate and Loan Amount fields are populated from the Borrower
Information screen.
The Loan Discount field is the amount of the discounts that are applied to the loan.
The value in this field is calculated in and retrieved from the Fees Worksheet.
c
Enter the advance amount in the Advance Amount field.
The Wire Amount and WH Haircut Amount fields are automatically calculated
and populated.
d
Select the Use Fixed Rate or Use Variable Rate check box to specify the rate
type.
e
Select the index type from the dropdown list and enter the Index Value and
Margin or enter the fixed rate in the Fixed Rate field.
f
Enter the Index Value.
g
If a variable rate, enter the Days on Line and the Margin for each increment of
days on line.
Important
The Days on Line and Margin fields are disabled when Use Fixed Rate is
selected.
If the warehouse lender has a profile set up in the company defaults utility, this
section is populated with information entered there. If not, enter the information
manually.
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7
Enter the dates in the Dates section as each event takes place.
8
Complete the Warehouse Repayment section.
Some of these fields are populated or calculated from information that was entered in
the Secondary Marketing screen.
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Banker functions
Important
The fields in this section are disabled if a value is not entered in the
Principal Amount Purchased field.
a
Enter the Final Base Sell Price, Final SRP, Final Overage/Rebate, and Final Sell
Adjustments percentages and any additional amount in the $ fields.
Point calculates the Final Net Sell Price dollar amount and percentage.
b
Enter the remaining fees from the purchase advice in the Escrow Balance, Days
Interest/Basis, Interest Amount, Funding Fee, Tax Service Fee, Flood Certification,
and user-defined fields.
Point calculates the fees and populates the Investor Net Wire field with the total
wire amount.
The fields in the Final Warehouse Expense and Final Execution & Accrued Interest
Variances fields are calculated from values entered throughout the Banker screens.
Click the lock boxes next to the Advance Cost & Rate and Accrued Interest & Rate
fields to enter those values manually.
Related information
•
Refer to Entering warehouse lender information, on page 64,
for information about warehouse lender setup.
•
Refer to Setting user access to data folders, on page 774, for
information about restricting access to banker screens.
•
Refer to the PointCentral User Guide for information about
specifying security settings.
Tracking loan shipment status
Use the Shipping screen to record closed loan data and status of the shipment of the
loan to the investor.
The following buttons, located at the bottom of the workspace, provide additional
functionality:
Appraisal
The Appraisal button opens the Appraisal Information dialog box which is
used to record information about the property appraisal.
Insurance
The Insurance button opens the Insurance dialog box which contains
information about the mortgage, hazard, and flood insurance for the property.
Escrow & Title
The Escrow & Title button opens the Escrow & Title Information dialog box
which contains the escrow, title, and wire information.
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Suspense Items
The Suspense Items button opens the Suspense Items dialog box which
contains items flagged by the investor that the loan is suspended until the items
are received.
To use the Shipping screen:
1
Open a borrower file.
2
Select Banker > Shipping.
Many of the fields in the Shipping screen are populated from data that was entered in
other screens. Fields that are disabled cannot be edited.
3
Complete the Loan Information section.
a
If Auto MIN Generation is enabled, the MERS # is automatically generated and
populated in the MERS # field. To override the automatically generated value,
select the check box to unlock the field and enter the MERS # manually.
b
Select the person who is coordinating the shipment from the dropdown list.
The Phone & Fax and E-mail fields are automatically populated if this information
was included in the dropdown list set up in the dropdown list utility.
c
4
Point User Guide
Select the shipping method from the dropdown list and enter the tracking number
in the Tracking No. field.
To populate the Mailing Address fields with the subject property address, click Copy
From Subject Property. To populate the fields with the borrower’s current address,
click Copy From Present Address.
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Banker functions
5
Enter the remaining dates in the Dates section as each event takes place.
6
Complete the Monthly Payments Received section.
This section is used to track payments that are received after the loan is closed.
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a
Click Add to add a payment.
b
Enter the payment number and paid date.
c
Enter the amount of the payment that is applied towards principal, interest,
impounds, mortgage insurance, and the amount that was applied to buy down the
loan.
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Tracking loan shipment status
7
d
Click Save & New to add another payment. When you are finished adding
payments, click Save & Close.
e
If late, enter the number of payments in the No. Payments Delinquent field.
f
Select the Capitalized check box to indicate that the interest, escrow
disbursements, late payments, and fees charged are added to the unpaid
principal balance.
Complete the Shipping & Servicing Transfer Information section.
a
Select the investor from the Investor dropdown list.
The default file, note, servicing, and loss/payee delivery information for the
selected investor is populated in the corresponding fields.
If the investor you need is not in the dropdown list, enter the information manually
or add the investor to the list of default investors in the company defaults utility to
include it in the dropdown list (Utilities > Company Defaults > Investors).
b
8
Point User Guide
Enter any relevant comments in the Notes field.
Complete the File Delivery Information and Note Delivery Information sections.
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Banker functions
These fields are automatically populated with the default information for the investor
that was selected in the Investor Information section. Enter any missing information
as needed.
9
Complete the Servicing Information and Investor Loss Payee Information sections.
These fields are automatically populated with the default information for the investor
that was selected in the Investor Information section. Enter any missing information
as needed.
10 Complete the Uniform Loan Delivery Dataset section.
The Uniform Loan Delivery Dataset section of the Shipping screen is part of the data
set of elements used to meet the loan delivery requirements for electronically
submitting loans to Fannie Mae and Freddie Mac. After you input the information into
the fields, click the Export to Fannie Mae, Export to Freddie Mac, or Export
Combined File button to generate an XML file. You can then manually upload the file
to Fannie Mae, Freddie Mac, or a third-party vendor (combined file).
a
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Select the type of automated underwriting system used to evaluate the loan from
the AU System dropdown list.
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Tracking loan shipment status
b
Depending on the AU System you selected, select an option from the Fannie
Decision or Freddie Decision dropdown list.
c
Enter the identification number of the appraisal document in the Doc File Identifier
field.
d
Specify the Freddie Program from the dropdown list, if applicable.
e
Enter the ID number of the entity where the cash purchase proceeds are to be
delivered in the Payee ID field.
f
Enter the number assigned by Fannie Mae or Freddie Mac to identify the
mortgage seller in the Fannie Seller No. or Freddie Seller No. fields, respectively.
Note
If the Uniform Collateral Data Protocol Setup dialog box in the
Utilities menu is completed, these fields are automatically populated.
g
To change the loan number, select the check box to enable the Loan Number field
and enter a new number.
h
Enter additional information in the Loan Comments field.
i
Complete the Borrower section.
Note
The fields in this section are not required for all loans. The fields that are
required are dependent on the state of the loan and the type of loan
being processed.
i
Select the method used to specify the loan-level credit score across all
borrowers from the Credit Score Selection dropdown list.
ii
If a characteristic of the borrower’s credit score impairs its effectiveness as an
indicator of their credit risk, select that impairment from the Credit Impairment
dropdown list.
iii Select the type of counseling or education program attended by one or more
of the borrowers from the Counseling Confirmation dropdown list.
iv Select the borrower homeownership program that the borrower participated in
as a requirement of a special mortgage program from the Counseling Type
dropdown list.
v
Select the entity type of the borrower from the Legal Entity Type dropdown list.
vi Enter how many payments the borrowers could make with their cash reserves
in the No. Months of Payments from Reserves, all Borrowers field.
vii Enter the credit score that is representative of the overall credit risk of the loan
in the Loan Level Credit Score field.
viii Select the type of counseling that the borrower received from the Counseling
Type dropdown list.
ix Enter the total number of mortgages held by all borrowers in the No. of
Mortgages Properties, all Borrowers field.
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Banker functions
j
Complete the Down Payment section.
With the exception of the fifth, user-defined source, the values for each down
payment source that was specified on the Loan Application is listed.
Important
Freddie Mac and ULDD do not support five down payment sources.
When exporting to ULDD, the fifth down payment source on the Loan
Application must be blank and the total of the remaining four sources
must equal the entire down payment amount for the Freddie Mac ULDD
export. Contact Freddie Mac for specific information about their
requirements for submitting multiple down payments.
k
i
Select the fund type that corresponds to the value for the each down payment
amount from the Type dropdown lists.
ii
Select the source of the down payment that corresponds to each amount from
the Source dropdown lists.
Complete the Closing Costs and Other Funds Collected at Closing sections.
i
Specify the type of funds being used to pay the closing costs from the Type
dropdown lists.
ii
Specify the source of the funds being used to pay the closing costs from the
Source dropdown lists.
iii Enter the amount of the closing cost in the Amount field.
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iv In the Other Funds Collected At Closing section, specify how to apply
additional funds collected at closing from the Type dropdown lists, and enter
the amounts in the Amount fields.
l
Complete the Investor section.
i
Enter the investor’s ID number of the product being financed in the Product ID
field.
ii
Enter any investor-defined ID numbers in the Product Codes fields.
iii Select the collateral program associated with the loan from the Collateral
Program dropdown list.
iv Select the method used to calculate the funds due to the investor from the
Remittance Type dropdown list.
v
Specify whether the seller is electing to exercise a buyup or buydown from the
Buyup/Buydown dropdown list.
vi Enter the percentage of ownership by the investor in the Ownership field.
vii Select the type of dwelling attachment from the Attachment Type dropdown list.
m Complete the Property section.
i
Specify the type of ownership from the Structure Type dropdown list.
ii
Select the construction method used for the dwelling from the Construction
Method dropdown list.
iii Enter the date of the appraisal in the Appraisal Date field.
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Banker functions
iv Select the method that was used to appraise the value of the property from
the Valuation Type dropdown list.
v
•
Select Automated Valuation Model if Home Value Explorer® (HVE) was
used.
•
Select Drive By when an exterior-only appraisal was completed.
•
Select Full Appraisal when a full appraisal was completed.
•
Select Prior Appraisal Used when a previously completed appraisal was
used.
•
Select None when Loan Prospector® (LP) Home Value Model was used/
•
Select Other when another valuation method type is used. When selected,
the Description field is enabled. Enter the information as instructed in the
seller's negotiated terms.
Select the name of the AVM model used to calculate the value of the property
from the AVM Type dropdown list.
•
Select the applicable option as instructed in the seller's negotiated term
when the AVM is used in lieu of an appraisal.
•
Select HomeValueExplorer for Relief Refinance Mortgages-Same Servicer
and Relief Refinance Mortgages-Open Access when the value of the
subject property is determined by using a point value estimate from Home
Value Explorer (HVE).
•
Select Other only if the AVM that was used to value the subject property is
not listed as a FRE-Supported Enumeration for this data point. When
selected, the Description field is enabled. Enter a description of the AVM
that was used.
Attention
The Other option is available only when the Freddie Mac ULDD export
format is used.
vi Select the Has Flood Insurance check box to indicate that the subject
property has flood insurance.
vii Select the Shared Equity check box if the property ownership rights are
shared between individual homeowners and another party that represents the
interests of a larger community.
n
Complete the 2-4 Properties section.
i
o
Complete Condominiums and Co-ops section.
i
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For two to four unit properties, enter the number of bedrooms of each unit and
the gross rent or market value rent of each unit in the corresponding fields.
Select the type of design of the dwelling from the Design Type dropdown list
and enter a description in the Description field.
•
Select Garden Project if the structure has one to three stories.
•
Select Midrise Project if the structure has four to seven stories.
•
Select Highrise Project if the structure has eight or more stories.
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Tracking loan shipment status
ii
•
Select Townhouse Row House if the structure is a townhouse or a row
house.
•
Select Other if indicated so on the appraisal. When selected, the
Description field is enabled for you to enter a description of the property.
Select the type of attachment between the units in the project from the
Attachment dropdown list.
iii Enter the total number of units in the project in the Units Total field.
iv Enter the total number of units that have sold in the Units Sold field.
v
Enter the name of the project in the Project Name field.
vi Select the current state of the project from the Project Status dropdown list.
vii Select the type of project or property classification from the Project Class
dropdown list.
p
Complete the Loan Program section.
i
Select the method that was used to calculate the interest on the loan from the
Calculation Type dropdown menu.
The default setting for new loans is Compound.
ii
Specify which refinance program, if applicable, is associated with the loan
from the Refinance Program dropdown list.
iii Select the investor of the loan from the Original Investor Type dropdown list.
iv Enter the number of basis points that the seller selected for a loan-level
buyup/buydown in the Buyup/Buydown Basis Points field.
v
Enter the percentage of the mortgage interest rate used to fund lenderpurchased insurance premiums in the Lender Paid MI % field.
vi Select the interest accrual period from the Calculation Period dropdown list.
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Banker functions
The default setting for new loans is Month.
vii Enter the amount of principal that was paid over the scheduled principal
amount from origination date in the Principal Curtailment field.
viii Enter an identifier of the loan in the Original Investor Loan No field.
ix Select the Fannie Home Improvement Product from the dropdown list.
x
If mortgage insurance is not required, select the reason from the No MI
Reason dropdown list.
xi Select the Balloon Reset check box to indicate that the balloon loan was
reset.
xii Select the Corporate Relocation check box to indicate that the loan is part of
a corporate relocation program.
q
Complete the Construction Loans section.
i
ii
Select the type of feature associated with closing the Construction To
Permanent loan from the Feature Type dropdown list.
Enter the first payment date of the Construction To Permanent loan in the First
Payment Due field.
iii Select the type of closing for the Construction To Permanent loan from the
Closing Type dropdown list.
r
Complete the ARM Loans section.
i
ii
Select the type and source of the index to be used to determine the interest
rate at each adjustment from the Index/Source Type dropdown list.
Enter the date when the first rate adjustment becomes effective in the First
Adjustment Date field.
iii Enter the date when the second rate adjustment goes into effect in the Second
Adjustment Date field.
iv Enter the date when the next adjustment rate goes into effect the Next
Adjustment Date field.
v
Enter the current interest rate in the Current Rate field.
vi Specify whether the borrower has exercised their option to convert the loan
from an ARM to a fixed rate from the Conversion Status dropdown list.
vii Enter the Lookback Period.
viii Enter the principal and interest amount in the Current P & I field.
ix Select the type of conversion from the Conversion Type dropdown list.
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s
Complete the Simple Interest Loans section.
Important
Simple interest loans apply only to Home Equity Lines of Credit (HELOC)
loans.
i
Select which formula is used to calculate the interest from the Interest Accrual
dropdown list.
ii
Select the loan balance upon which the interest is calculated from the
Calculation Basis dropdown list.
iii Enter the date the interest begins to accrue from the Accrual Start Date field.
iv Enter the amount of interest that was accrued between the last payment date
and the date reported in the Accrued Interest field.
v
Select the number of days in the year for the interest calculation from the Days
In Year dropdown list.
vi Enter the number of months that this interest calculation is in effect in the
Effective Months field.
vii Enter the number of days in the billing cycle in the Billing Cycle Days field.
t
Complete the Related Loan section.
Attention
The Related Loan section is used for first mortgage liens when the
subject loan is a second lien, and for second liens when the second is
being delivered with the first lien.
i
Point User Guide
Select the type of mortgage from the Loan Type dropdown list.
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Banker functions
ii
Enter the original amount of the loan in the Note Amount field.
iii Select the amortization type from the Amortization Type dropdown list.
iv Enter the unpaid balance of the loan in the Principal Balance field.
v
Enter the date the borrower is to make the first mortgage payment in the First
Payment Date field.
vi Enter the note date in the Note Date field.
vii Enter the number of months in which the loan will mature in the Due field.
viii Select the Balloon check box if a balloon payment is required at the end of
the loan as the final payment to pay off the loan.
ix Select the HELOC check box to indicate whether the loan is a Home Equity
Line of Credit.
x
Enter the amount of the line of credit in the Maximum Balance field.
xi Enter the outstanding balance in the Current Balance field.
11 Complete the File Room section.
The File Room section tracks dates and other information when the loan package is
sent to an external archive company.
Related information
•
Refer to Entering default investor shipping information, on
page 66, for information about setting up the default investor
shipping information.
•
Refer to Dropdown lists, on page 71, for information about
creating dropdown lists.
•
For information about entering down payment sources for Fannie
Mae, refer to Entering property information and loan purpose,
on page 140.
•
Refer to Exporting files to Fannie Mae ULDD, Freddie Mac
ULDD, or both, on page 738, for more information about exporting
ULDD data to Fannie Mae and Freddie Mac.
Tracking investor requirements
Shippers use the Trailing Documents screen to record and track the documents that
are required by the investor.
The following buttons, located at the bottom of the workspace, provide additional
functionality:
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Appraisal
The Appraisal button opens the Appraisal Information dialog box which is
used to record information about the property appraisal.
Insurance
The Insurance button opens the Insurance dialog box which contains
information about the mortgage, hazard, and flood insurance for the property.
Escrow & Title
The Escrow & Title button opens the Escrow & Title Information dialog box
which contains the escrow, title, and wire information.
To use the Trailing Documents screen:
1
Select Banker > Trailing Documents.
The Investor and Investor Loan No. fields are automatically populated from the
investor information that was entered on the Secondary Marketing or
Underwriting screen. The closing date field is populated when the loan status is
changed to closed.
2
Point User Guide
Enter the dates in the Purchase Date and Trailing Documents Sent fields as
applicable.
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Banker functions
The Shipper, Phone & Fax, and E-mail fields are populated from information that was
entered on the Shipping screen.
3
To manually add documents to the trailing documents list:
a
To add an individual document to the trailing documents list, click the Add button.
The Edit Trailing Document dialog box is displayed.
b
Select a document to track from the Document dropdown list. If the document you
need is not on the list, enter it manually or add it to the default trailing documents
list.
Tip
Use the company default trailing documents utility (Utilities >
Company Defaults > Trailing Documents) to add a document to the
default set of trailing documents which is accessed from the Document
dropdown list.
4
378
c
Enter the date the document was requested and who made the request. Click the
Cardex icon to use the Cardex database to populate the Request From field.
d
Enter the document reference number in the Ref No field.
e
Enter the date the requested document was received, select the shipping vendor
or method that was used to send the document to the requester from the Shipped
by dropdown list, and enter the shipment tracking number.
f
Enter the date the document was sent to the investor, select the shipping vendor
or method that was used to send the document from the Shipped by dropdown list,
and enter the shipment tracking number.
g
Enter the amount of the late fee charged to the lender for late or non-delivery of
the requested document, the date when the fee was assessed, and the date the
fee was paid.
h
To add another document, click Save & New. When you are finished adding
documents, click Save & Close.
Click Auto-Populate to populate the list with the default trailing documents for the
type of loan being processed.
Calyx Software
Tracking investor requirements
The default trailing document auto-populate settings specify for which loan types the
trailing document is applicable. When the Auto-Populate button is clicked, only
documents that are applicable for the loan type of the current loan are populated in the
list.
Note
The default documents are appended to the document list.
5
To insert a trailing document in the middle of the list, select an existing document on
the list and click Insert.
The Edit Trailing Document dialog box is displayed.
Complete the dialog box as described in Step 3.
The new entry is inserted above the entry that was selected when Insert was clicked.
6
To edit a trailing document, select the document to edit and click Edit to open the Edit
Trailing Document dialog box.
Edit the entries and click OK.
To delete a document, select the document to delete, click Delete, and click OK in
response to the confirmation prompt.
To change the sequence of the documents, select a document and click the Up or
Down button to move the document up or down in the list.
The Late Fees Total field is automatically calculated based on the late fee criteria that
is defined for each document when the document is added to the list.
7
Complete the Insurance and Tracking sections.
This information is used to track the loan package when it is shipped to a government
agency for an FHA or VA loan.
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Banker functions
The VA Funding Fee Paid Date field is enabled only when VA is selected as the loan
type. The Up-Front MIP/PMI Paid Date field is disabled when VA is selected as the
loan type.
Related information
Refer to Creating the default trailing documents list, on page 69, for
information about adding documents to the trailing documents list.
Recording loans
Use the Recording screen to document the loan information that was used to record the
transaction with the county.
To use the Recording screen:
1
Open a borrower file.
2
Select Banker > Recording.
a
Enter the registration date.
b
If applicable, select the Registered with MERS and Originated with MERS
check boxes.
If Auto MIN Generation is enabled, the MERS # is automatically generated and
populated in the MERS # field. To override the automatically generated value,
select the check box to unlock the field and enter the MERS # manually.
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3
4
c
Enter the information about the servicer who is the current registered owner in the
Registered section.
d
Enter the information about the recipient of the transfer in the Transfer of Rights
section.
e
Enter the deactivation information in the Deactivation section.
Complete the Assignee and Assignor sections.
a
Enter the name and address of the property purchaser in the Assignee section.
b
Enter the name and address of the property seller in the Assignor section.
Complete the Recordable Documents section.
a
Select the document type from the Type dropdown list.
b
Complete the Associated Document section.
i
Enter the date when the document was recorded in the county records in the
Recording Date field.
ii
Complete the Page Number, Instrument Number, and Book Number fields for
the recorded document.
These numbers are assigned to the document when it is recorded.
c
Point User Guide
Enter the Assumption Fee, Attorney Fee, and Trustee Fee, if applicable.
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Banker functions
d
Enter the Requested By Name and Witness Name.
e
Enter the lender’s post office box that is on the recorded document.
f
Select the applicable check boxes:
g
Real Property Improvements Not Covered (state of New York only)
•
Acknowledgement of Cash Advance Against Non-Homestead Property
If the property is located in the state of Texas, select the applicable check boxes
(these fields are also located on the State Specific Information screen):
•
Renewal and Extension of Liens against Homestead
•
Purchase Money Transaction
•
Owelty of Partition
5
Select the applicable check boxes in the Riders section.
6
Complete the Prepared By and Return To sections. Use the Cardex database to
complete these fields.
7
Complete the Notary Information section.
a
382
•
Complete the Name of Notary, Title of Notary, Notary State, and Notary County
fields.
Calyx Software
Supplementary screens
b
c
Enter the date that the recording was notarized in the Notary Appearance Date
field.
Complete the Commission Exp. Date, Commission in State, and Commission in
County fields.
d
Enter the names of the persons whose signatures were notarized in the List of
Notary Names field.
Related information
•
Refer to Generating the Mortgage Identification Number
automatically, on page 95, for information about automatic MIN
generation.
•
Refer to Chapter 21, Contact management (Cardex), for
information about using the Cardex database.
Supplementary screens
Several of the banker screens include sub screens that contain additional information to
help the user locate certain information more quickly and efficiently.
Appraisal information
The Appraisal Information dialog box is used to record detailed property appraisal
information. It is accessible by clicking the Appraisal button which is located at the bottom
of the workspace on the Banker screens (except Secondary Marketing and
Recording).
To complete the Appraisal Information dialog box:
1
Click the Appraisal button.
The Appraisal Information dialog box is displayed.
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383
Banker functions
2
Enter the company information for the Original Appraiser.
Tip
You can enter the company information manually or use the Cardex
database to populate these fields.
3
Select the method that was used to appraise the value from the Valuation Type
dropdown list and complete the Appraised Value, Estimated Cost New, Appraisal Date,
and the Appraisal Expires fields.
4
Enter the company information for the Review Appraisal.
5
Select the Valuation Type from the dropdown list and enter the Reviewed Value.
The Value Variance is calculated and the Review Result field is automatically
populated with the result.
6
Enter the date the appraisal was completed in the Review Appraisal Date field.
7
Click OK to exit the dialog box.
Escrow and title
The Escrow & Title Information dialog box is used to record escrow, closing agent,
and title information. It is accessible by clicking the Escrow & Title button which is located
at the bottom of the workspace on the Banker screens (except Secondary Marketing,
Recording, and the Closing Documents screens). In addition, these fields are available
on the Banker > Closing Documents > Closing Instructions screen.
To use the Escrow & Title Information dialog box:
384
1
Click the Escrow & Title button to open the Escrow & Title Information dialog box.
2
Select the type of entity that is handling the loan escrow from the Type dropdown list.
Calyx Software
Supplementary screens
3
Enter the company and contact information.
Tip
You can enter the company information manually or use the Cardex
database to populate these fields.
4
Enter the reference number in the Ref No field.
Tip
Some of this information is automatically populated if escrow and title
were requested through the Point Services interface (Services > Title/
Escrow > Request Title/Escrow).
5
Enter the information for the company that is to receive the wire transfer.
Tip
You can use the Cardex database to populate the company information
fields, or you can enter the information manually.
6
Complete the ABA #, Account #, Ref. #, Further Credit, and Account # fields and click
OK.
7
Click the Title tab.
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385
Banker functions
Tip
Some of this information is automatically populated if escrow and title
were requested through the Point Services interface.
8
Edit the information as needed.
9
Click OK to save the changes and exit the dialog box.
Important
Information is retained in each tab when you switch to another tab.
However, you must click OK when you exit the dialog box to
permanently save any changed data.
Click Cancel to exit the dialog box without saving any changes.
Related information
For information about ordering title and escrow by using the Point
Services interface, refer to Title and escrow, on page 450.
Insurance information
The Insurance dialog box provides easy access to mortgage, hazard, and flood
insurance information. It is accessible by clicking the Insurance button which is located at
the bottom of the workspace on the Banker screens (except Secondary Marketing and
Recording).
The fields on this tab correspond to fields in the Insurance section on the Underwriting
screen and the Mortgage Insurance section on the Registration & Rate Lock screen.
Insurance information is automatically populated in the corresponding fields throughout
the loan file.
To complete the Insurance dialog box:
1
386
Click the Insurance button.
Calyx Software
Supplementary screens
The Insurance dialog box is displayed.
If the borrower is required to pay mortgage insurance, the Mortgage Insurance tab will
contain the premium details if they were entered on another screen.
2
Edit the information as needed.
3
Click Hazard to view the hazard insurance policy information
.
Tip
The Hazard dialog box is automatically populated when hazard
insurance is requested through the Point Services interface.
4
Point User Guide
Edit the insurance information as needed.
387
Banker functions
5
Click the Flood tab to view the flood insurance policy information.
Tip
The Flood dialog box is automatically populated when flood insurance is
requested through the Point Services interface.
6
Edit the insurance information as needed.
7
Click OK to save any changes and exit the dialog box.
Important
Information is retained in each tab when you switch to another tab.
However, you must click OK when you exit the dialog box to
permanently save the changed data.
Click Cancel to exit the dialog box without saving any changes.
Related information
For information about ordering flood and hazard insurance by using the
Point Services interface, refer to Flood certifications, on page 449 and
Title and escrow, on page 450.
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Supplementary screens
Notes
All of the Banker screens include a Notes section at the bottom of the screen for you to
enter comments about the information on that screen.
To add notes to a screen:
1
Click Add Item.
The Add Item dialog box is displayed.
2
Enter any comments in the space provided.
3
Click OK to save the entry.
The Date/Time and Entered By fields are automatically populated.
Click View Item to view the selected entry.
Program and rate lock details
The Program & Rate Lock Details dialog box provides quick access to information
about the rate lock, rate terms, buydown, and prepayment details.
The Program & Rate Lock Details dialog box is accessible by clicking the Loan
Program Details button on the Secondary Marketing screen, or the Program/Lock
Details button on the Conditions and Closing screens.
To access or complete the Program & Rate Lock Details dialog box:
1
Point User Guide
Click the Program/Lock Details or Loan Program Details button.
389
Banker functions
The Program & Rate Lock Details dialog box is displayed.
The Program & Rate Lock Details dialog box contains the following four tabs:
•
•
•
•
Rate Lock
ARM
Buydown
Prepay/Other Features
The Rate Lock tab contains rate and lock details. This information is populated from
information that was entered in other screens and cannot be edited.
2
Select the ARM tab to view the ARM information and rate adjustments.
If the loan rate is adjustable, the ARM tab contains information about the rate and
payment adjustments for the loan.
The information on this tab corresponds to the Rate Adjustments and Payment
Adjustment sections on the Truth-In-Lending screen and is populated in the
corresponding ARM fields throughout the loan file.
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Supplementary screens
3
Edit the rate and payment information as needed.
4
Click the Buydown tab to view the temporary buydown information, rates, and terms.
The Buydown tab contains information about the buydown rate and terms.
a
If the buydown is temporary, select the Temporary Buydown check box.
b
Select the Buydown Type.
The Buydown Rates & Terms section is populated based on the selected
Buydown Type option. This information is also populated in the Buydown Mortgage
section on the Truth-In-Lending screen.
c
Select the buydown Contributor from the dropdown list.
d
Enter the length of the term, in months, for each buydown rate.
The Final Buydown Rate is calculated by subtracting the lowest buydown rate
from the note rate.
e
Point User Guide
Enter Buydown Original Balance Amount.
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Banker functions
5
Click the Prepay/Other Features tab to view prepayment and other loan information.
6
Edit the information as needed.
7
Click OK to save the changes and exit the dialog box.
Important
Information is retained in each tab when you switch to another tab.
However, you must click OK when you exit the dialog box to
permanently save any changed data.
Click Cancel to exit the dialog box without saving any changes.
Suspense items
The Suspense Items dialog box is used to track missing items that the investor requires.
The loan is suspended until the items are received. It is accessible by clicking the
Suspense Items button which is located at the bottom of the workspace on the Banker >
Shipping screen.
To complete the Suspense Items dialog box:
1
392
Click the Suspense Items button at the bottom of the Shipping screen.
Calyx Software
Supplementary screens
The Suspense Items dialog box is displayed.
2
Enter each item that is missing from the shipped file.
3
Enter the reason that the item was not included in the original file.
4
As each item is completed, enter the date in the Date Resolved field.
Point User Guide
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FHA and VA loans
8
Point contains a number of forms and worksheets that are used to originate and process
FHA and VA loans.
In this topic
• FHA loans
• VA loans
FHA loans
FHA screens are accessible by selecting Forms > Federal Housing Administration
(FHA).
FHA purchase loan
The following screens must be completed to process an FHA loan:
•
•
•
•
•
Borrower Information
Loan Application
Fees Worksheet
FHA Loan Underwriting and Transmittal Summary
FHA Statutory Requirements Worksheet
Completing the Borrower and Prospect Information screens
Complete a Borrower or Prospect Information screen as you would for a
conventional loan with the following exceptions:
1
Select the FHA check box in the Loan Type section.
Requirement
The following fields must be completed for FHA to calculate the
maximum loan amount:
•
•
•
2
Loan Type checked FHA
Sales Price
Subject property state
Click Max Loan to generate the maximum loan amount that is allowed for an FHA
loan.
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FHA and VA loans
The following table shows how Point calculates the maximum loan-to-value based on
whether the property is located in a low or high cost closing state:
Closing state
Low cost
AZ, CA, CO, GU, ID, IL, IN,
NM, NV, OR, UT, VI, WA, WI,
WY
High cost
All other states
If the lesser of the appraised value or sales price is:
Between $50,000
More than
Less than $50,000
and $125,000
$125,000
98.75%
97.65%
97.15%
98.75%
97.75%
n/a
If the seller is paying the entire amount of closing costs for the borrower, do not click
the Max Loan button for an FHA loan. The borrower must contribute a 3% down
payment, which you must enter in the Borrower Information screen.
3
Click the Mtg Insurance button to complete the mortgage insurance requirement for
the FHA loan.
The PMI/MIP/FF/USDA dialog box is displayed.
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Tip
The PMI/MIP/FF/USDA dialog box is accessible from the following
screens:
•
•
•
•
•
•
•
•
a
Amortization Schedule
Borrower Information
Good Faith Estimate (2010)
Fees Worksheet
Mortgage Loan Disclosure Statement
Prequalification
Rent vs. Own
Truth-in-Lending
Click FHA Max Ln to calculate the maximum loan amount that is allowed (unless
the seller is paying all of the borrower’s closing costs). Click Yes in response to the
prompt to copy the maximum loan amount to the Loan Amount field in the
Borrower Information screen.
Requirement
The FHA Max Ln button is enabled only when both the FHA and
Purchase check boxes are selected in the Loan Type and Purpose of
Loan sections on the Borrower Information screen.
b
Enter the up-front mortgage insurance premium in the MIP, FF, PMI, USDA field or
select a predefined value from the dropdown list.
Press the <Tab> key to populate the calculated fields.
c
If part or all of the fee will be paid in cash, enter the cash amount in the Amount
Paid in Cash field.
The Up-Front MIP/Funding Fee Financed and Loan Amount with Up-Front MIP/
Funding Fee fields are automatically populated.
d
Select an option from the Refundable Type dropdown list to specify whether the
mortgage insurance is refundable.
e
Complete the Monthly Mortgage Insurance section.
i
Select the mortgage insurance rate for the initial period from the PMI/MIP/VA/
USDA dropdown list.
To enter the value manually, click the lock box to enable the Monthly Amount
field.
ii
Enter the number of months that the rate is effective in the mths field.
The amount is calculated and automatically populated in the Proposed
Monthly Housing Expenses section on page 2 of the Loan Application, the
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FHA and VA loans
Mortgage Insurance field on the Truth-in-Lending Disclosure, and Line
1002 of the GFE.
Note
The values for the PMI rate dropdown lists are defined in the dropdown
list utility (Utilities > Dropdown Lists > Mtg Insurance).
f
g
Select an option from the Calculate Based On dropdown list:
•
To calculate the premium based on the appraised value of the property, select
Appraisal Val.
•
To calculate the premium based on the loan amount, select Loan Amount.
•
To calculate the premium based on the sale price of the property, select Sales
Price.
Enter 78% in the Cancel At field for monthly mortgage insurance.
When the Calculate button is clicked in the Truth-in-Lending Disclosure, the
mortgage insurance amount is removed from the payment schedule after the
loan-to-value ratio reaches 78% and the borrower has paid the annual mortgage
premium for at least five years.
h
To calculate the insurance based on the balance of the loan, select the Calculate
based on remaining balance check box.
This calculation averages the loan balance every 12 months and averages the
mortgage insurance premium in the Truth-in-Lending payment schedule.
To cancel the insurance halfway through the mortgage term, select the Midpoint
payment cancellation check box.
i
Click OK.
The information is populated into the mortgage insurance fields in the forms
throughout the loan file.
Related information
•
For more information about defining dropdown list values, refer to
Dropdown lists, on page 71.
•
For more information about the Information screens, refer to
Borrower and prospect information screens, on page 253.
Completing the Fees Worksheet
After you complete the Borrower Information screen and Loan Application,
complete the Fees Worksheet:
1
398
Open the Fees Worksheet from the Forms menu or the shortcut bar.
Calyx Software
FHA loans
2
Enter the applicable closing costs and specify whether they are a prepaid finance
charge (PFC), FHA-allowable (F), or paid outside of closing (POC).
Attention
Sellers might not be charged for non-allowable fees unless the contract
specifically states that the seller has agreed to pay them.
3
If you created a closing cost scenario for FHA-allowable closing costs, click CC
Scenario to import it here.
4
Click CC Adjustments for FHA.
The FHA: Additional Itemized Closing Costs dialog box is displayed.
5
Enter or change the values and click Close.
Related information
For more information about completing the Fees Worksheet, refer to
Good Faith Estimate, on page 180.
Completing the FHA Loan Underwriting and Transmittal Summary
The FHA Loan Underwriting and Transmittal Summary contains detailed
information about the loan, which simplifies the disclosure of loan-level information. This
form is required when you submit an FHA loan to underwriting and is used for both
purchase and refinance loans.
If you completed the Borrower Information screen, Loan Application, and Truth-inLending screen, most of the fields are automatically populated.
Use the FHA Loan Underwriting and Transmittal Summary - Combined form when
unmarried co-borrowers are applying jointly for the loan. Most of the information on this
screen is automatically populated from the borrower screens.
The following buttons, located at the bottom of the workspace, provide additional
functionality:
Mtg Insurance
The Mtg Insurance button opens the PMI/MIP/FF/USDA dialog box which is
used to calculate mortgage insurance fees for conventional and government
loans.
FHA Stat Req
Opens the FHA Statutory Requirements Worksheet which is used to provide
required statutory calculations with FHA loan applications.
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399
FHA and VA loans
To complete the FHA Loan Underwriting and Transmittal Summary:
1
Select Forms > Federal Housing Administration (FHA) > FHA Loan Underwriting
and Transmittal Summary (HUD 92900-LT) to open the FHA Transmittal
Summary.
Most of the borrower and property information is populated from the Borrower
Information screen and Loan Application.
2
Enter the case number in the FHA Case Number field.
3
Select the section under which the mortgage is to be insured from the Section of the
Housing Act dropdown list.
4
Enter the underwriter’s CHUMS ID number in the CHUMS ID field.
5
Enter the CHUMS ID number of the underwriter who reviewed the appraisal in the
CHUMS ID for Appraisal Reviewer field.
Complete this field when the underwriter who reviewed the appraisal is different from
the one who reviewed the credit package.
6
The Scored by TOTAL check box is selected by default. Select the risk classification
option that corresponds to the TOTAL results for your loan:
•
Select A/A to indicate that FHA will insure the loan with reduced documentation.
•
Select Refer to indicate that the lender is required to manually underwrite the
loan.
Note
If you are a LoanScoreCard user and have run FHA TOTAL Scorecard for
this loan and saved the results, the Risk Class check box is automatically
selected for the corresponding result.
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Note
The Technology Open to Approved Lenders (TOTAL) Mortgage Scorecard
was developed by HUD to evaluate the credit risk of FHA loans that are
submitted to an automated underwriting system. To underwrite an FHA
loan electronically, a mortgagee must process the request through an
automated underwriting system that can communicate with the FHA
TOTAL Scorecard.
7
To access LoanScoreCard and run the FHA TOTAL Scorecard, click the Run FHA
TOTAL Scorecard button.
8
Complete the Borrower and Property Information section.
9
a
Select the type of property being purchased from the Property Type dropdown list.
b
Specify whether the property is an Existing Construction, Proposed
Construction, or New (less than 1 year).
Complete the Mortgage Information section.
Many of these fields are already populated from the Loan Application, Truth-inLending, and Transmittal Summary screens.
a
Point User Guide
If the mortgage insurance information is not completed, click the Mtg Insurance
button and enter the necessary information in the PMI/MIP/FF/USDA dialog
box.
401
FHA and VA loans
b
Complete the Interest Rate, Qualifying Rate, and Loan Term (mths) fields, if
needed.
Note
For FHA loans, the qualifying rate is equal to the interest rate unless the
loan-to-value is less than or equal to 95% and the loan is a one year ARM
or less, then the qualifying rate is +1%.
c
Select the Amortization type.
d
Select the applicable Loan Purpose check boxes.
e
If the borrower has obtained secondary financing, enter the source in the Source/
EIN field; select Gov’t, NP, Family, or Other to specify the source of the
financing; and enter the dollar value in the Amount of Secondary Financing field.
If the financing is from a government (Gov’t) or nonprofit (NP) agency, you must
also enter the Employer Identification Number (EIN) in the Source/EIN field.
If you select Other as the financing source, the empty field next to the check box
becomes enabled. Enter a description and source of the financing, and if
applicable, enter the EIN of the source.
f
Select the Seller Funded DAP check box to indicate that the seller is providing
funding for the down payment.
g
If the borrower has received cash as a gift, enter the source in the Source/EIN
field; select Gov’t, NP, Family, or Other to specify the source of the gift; and
enter the dollar value in the Amt of Gift field.
If the gift is from a government (Gov’t) or nonprofit (NP) agency, you must also
enter the Employer Identification Number (EIN) in the Source/EIN field.
If you select Other as the source of the gift, the empty field next to the check box
becomes enabled. Enter a description and source of the gift, and if applicable,
enter the EIN of the source.
You can enter up to two gifts.
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10 Complete the Underwriting Information section.
Many of these fields are populated from information that was entered on the
Borrower Information screen, Loan Application, and Fees Worksheet.
a
To enter or edit income information, click Base Income to access the Monthly
Income Calculator.
Attention
Enter secondary income sources and rental income on pages 2 and 3 of
the Loan Application.
b
If the borrower makes monthly child support payments and they were not entered
in the Loan Application, enter the payment amount in the Child Support field.
Attention
Enter other debts and obligations on page 3 of the Loan Application.
c
Point User Guide
In the Borrower Funds to Close section, complete the Required, Verified Assets,
and Source of Funds fields.
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FHA and VA loans
To enter the closing costs manually, click the Closing Costs field lock box to enable
the field.
d
Enter the number of months of reserves that are required in No. of Months
Reserves fields.
e
Complete the Lease/Ground Rent field in the Proposed Monthly Payments
section, if applicable.
Attention
Enter proposed monthly housing expenses on page 2 of the Loan
Application or by clicking the HE & Oblig button on the Borrower
Information screen.
f
Enter the borrower and co-borrower CAIVR numbers.
Note
The Credit Alert Interactive Voice Response system (CAIVR) is a Federal
database of debtors who have defaulted on debts to Federal agencies.
Loan processors use this database to prescreen applicants by submitting
their social security number for verification. If their social security number
is not included in the database, a clear confirmation code (CAIVR
number) is issued and they can proceed with the loan.
g
Select the Yes or No check box for both the borrower and co-borrower to indicate
if their name is on the LDP/GSA lists. If their name is on the list, they are ineligible
to participate in the loan program.
h
Enter any additional comments in the Underwriter Comments field.
Related information
•
For information about using the Monthly Income Calculator,
entering secondary income sources, and entering monthly housing
expenses, refer to Entering income and housing expenses, on
page 146.
•
For information about entering debts and obligations, refer to
Entering liabilities, on page 151.
•
For information about entering real estate income, refer to Entering
real estate owned, on page 154.
•
For information about completing the PMI/MIP/FF/USDA dialog
box, refer to Calculating mortgage insurance, funding fees, and
USDA fees, on page 285.
•
For more information about FHA TOTAL Scorecard and
LoanScoreCard, refer to FHA TOTAL Scorecard, on page 492.
•
For more information about the Technology Open to Approved
Lenders (TOTAL) Mortgage Scorecard and the Credit Alert Interactive
Voice Response system (CAIVR), go to the HUD web site.
Creating an FHA refinance file
Complete the following screens to process an FHA refinance loan:
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FHA loans
•
•
•
•
•
Borrower or Prospect Information screen
Loan Application
Fees Worksheet
FHA Loan Underwriting and Transmittal Summary
FHA Statutory Requirements Worksheet
FHA has multiple programs available for refinancing loans, each with specific guidelines
that govern the loan, such as the maximum allowable mortgage amounts, closing costs,
prepaid expenses, and MIP refunds.
Related information
•
For information about completing the FHA Loan Underwriting and
Transmittal Summary screen, refer to Completing the FHA Loan
Underwriting and Transmittal Summary, on page 399.
•
For more information about processing FHA refinance loans, go to
the Calyx Support web site.
Completing the Prospect and Borrower Information screens
Begin a refinance loan by completing the Prospect or Borrower Information screen.
1
On the Borrower (or Prospect) Information screen select FHA and enter:
•
•
•
•
Appraised value
Loan amount
Interest rate
Loan term
2
In the Purpose of Loan section, select No Cash-Out Refi for all types of refinances
except Cash-Out Refinances.
3
Click the Mtg Insurance button to complete the PMI/MIP/FF/USDA dialog box.
4
Complete the Loan Application and the Fees Worksheet.
Related information
•
For more information about the Information screens, refer to
Borrower and prospect information screens, on page 253.
•
Refer to Completing the Borrower and Prospect Information
screens, on page 395, for information about how to complete the
PMI/MIP/FF/USDA dialog box for an FHA loan.
Completing the Fees Worksheet
After you have completed the Borrower (or Prospect) Information screen and the
Loan Application, complete the Fees Worksheet.
1
Select Forms > Fees Worksheet.
2
Enter the applicable closing costs.
3
Indicate the FHA-allowable closing costs by selecting F next to the fee.
4
Click the CC Adjustments for FHA button.
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5
Enter or change any values and click Close to close.
Related information
For more information about completing the Fees Worksheet, refer to
Good Faith Estimate, on page 180.
Completing the FHA Statutory Requirements Worksheet
Use the FHA Statutory Requirements Worksheet to maintain compliance with FHA
guidelines that require the statutory required calculations be documented in the FHA loan
file.
Most of the fields in the FHA Statutory Requirements Worksheet are pre-populated
with data that was previously entered in the Borrower Information screen, the Loan
Application, and the Fees Worksheet.
The following buttons, located at the bottom of the workspace, provide additional
functionality:
FHA Trans Sum
Opens the FHA Loan Underwriting and Transmittal Summary which
contains detailed information about the loan and simplifies the disclosure of loanlevel information.
Mtg Insurance
The Mtg Insurance button opens the PMI/MIP/FF/USDA dialog box which is
used to calculate mortgage insurance fees for conventional and government
loans.
To complete the FHA Statutory Requirements Worksheet:
Prerequisites
Completing the Borrower Information screen, Loan Application,
Fees Worksheet, and the FHA Transmittal Summary before you
complete the FHA Statutory Requirements Worksheet will ensure
that it is populated with accurate data.
1
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Select Forms > Federal Housing Administration > FHA Statutory Requirements
Worksheet.
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FHA loans
The FHA Statutory Requirements Worksheet is displayed.
The Appraised Value field is automatically populated from the Borrower
Information screen. The Total Closing Costs and Prepaid Items, Borrower-Paid
Closing Costs and Prepaid Items, and Seller Contribution fields are automatically
populated with information that was entered into the Fees Worksheet and are not
editable.
The Maximum Allowable Contributions field is automatically calculated by multiplying
the sales price (Sales Price field) by 6%.
2
Complete the Statutory Investment section.
Requirement
The Statutory Investment section is required only for purchase
transactions. It is not required for refinances.
The Sales Price field is populated from data that was entered on the Loan
Application.
The Minimum Down Payment Requirement is calculated by multiplying the Sales Price
by 3.5% (the default value). To change the default value, click the check box next to
the lock box to enable the percentage field, and enter a new value.
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3
Complete the Maximum Mortgage Calculation section.
The purpose of this section is to calculate the maximum mortgage amount for a
purchase or refinance transaction.
Refinance transactions are calculated by adding the up-front mortgage insurance
premium percentage to the maximum LTV for the type of loan, and dividing the
appraised value by the result.
a
Enter the required adjustments in the Required Adjustments field.
Add fees that you can finance, such as repairs and solar energy systems.
Subtract fees that you cannot finance, such as personal property items that are
included in the sale. Enter the net total of the fees.
Tip
Precede a negative value with a minus sign (–).
The Mortgage Basis field is calculated by adding the Required Adjustments to the
Lesser of Sale Price or Appraised Value.
The maximum mortgage amount for purchase transactions is calculated by
multiplying the Mortgage Basis by the maximum mortgage amount percentage.
b
If a refinance transaction, enter the maximum allowable LTV percentage in the
Maximum Mortgage Amount - Refi percentage field.
The maximum mortgage amount for a refinance transaction is divided by the
Appraised Value and entered in the corresponding field.
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4
Complete the Cash Investment Requirements section.
This section calculates the total cash the borrower needs to close the transaction, or
the amount of money they will receive back.
a
The Minimum Down Payment field is automatically calculated by subtracting the
Sales Price from the Maximum Mortgage Amount for a purchase transaction. To
manually edit this field, click the lock box to enable the field.
b
The Refi (Incl Debts to be Paid Off), Prepaid Expenses, Closing Costs, Discount
Points, and Subordinate Financing fields are populated with information that was
entered in the Loan Application and Fees Worksheet. Click the lock box next
to Refi (Incl Debts to be Paid Off) to manually edit the field.
c
To add or edit additional itemized closing costs, click the CC Adjustments for
FHA button to open the FHA: Additional Itemized Closing Costs dialog box.
Tip
This dialog box is also accessible from the Fees Worksheet and the
Loan Application.
d
The Upfront MIP Paid in Cash field is automatically populated from information
that was entered in the PMI/MIP/FF/USDA dialog box. Click the lock box to
manually edit this field.
The Credits field calculates the total of all credit sources that are applied to the loan.
The Cash from/to Borrower field calculates the total of all credits from all sources that
are applied in the Cash Investment Requirements section.
Warning
If the Cash from/to Borrower field does not match the Cash from/to
Borrower in the Details of Transaction section on the Fees Worksheet
and Loan Application, a message is displayed at the bottom of the
screen.
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Related information
•
For information about the FHA Loan Underwriting and
Transmittal Summary, refer to Completing the FHA Loan
Underwriting and Transmittal Summary, on page 399.
•
For information about the Loan Application, refer to Chapter 5,
Loan Application.
•
For information about the Fees Worksheet, Borrower
Information screen, and PMI/MIP/FF/USDA dialog box, refer to
Chapter 6, Disclosures and other forms.
FHA/VA Addendum to the URLA
The FHA/VA Addendum to the URLA is a supplemental form to accompany the Uniform
Residential Loan Application. To process an FHA or VA loan, you must complete this form.
The form is accessible from both the FHA forms menu and the VA forms menu.
To open the FHA/VA Addendum to the URLA:
1
Open a prospect or borrower file.
2
Select Forms > Federal Housing Administration (FHA) > FHA Addendum to
URLA (HUD-92900–A/ 26-1802a) or Forms > Veterans Administration (VA) > VA
Addendum to URLA (HUD-92900–A/26-1802a).
The screen follows the printed form by section number. Grayed out fields are not
accessible and are populated or calculated based on input from other screens.
3
Complete the Type of Application, Agency Case No., Section of the Act, and Lender
Case No. fields.
4
Complete the Borrower’s Name & Present Address section if those fields are not
already populated.
5
Complete the Property Address section.
The Loan Amt, Proposed Maturity, Amount of UFP, and Monthly Premium fields are
grayed out and are populated from information entered in other fields.
6
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Enter the Interest Rate and Discount Amount if not already completed.
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7
Complete the Lenders Name, Address & Telephone Number section. Use the Cardex
database to populate this information if possible.
8
Complete the Sponsor/Agent section. Use the Cardex database to populate this
information if possible.
9
Select the check box to specify whether the loan is a sponsored origination and
complete the Company, Fed. Tax ID, and NMLS# fields.
By default, this check box is not selected and the Company, Fed. Tax ID, and NMLS#
fields are hidden. When checked, the fields are automatically populated from the
information in the Utilities > Company Defaults > Company Info dialog box.
Tip
You can create a master file with the check box pre-selected.
10 Specify whether the borrower is a first time buyer, and if the borrower is a veteran,
indicate how the title will be vested.
11 Specify the purpose of loan.
12 If a VA loan, enter the names and functions of any duly authorized agents in the Duly
Agents section.
13 Complete the Borrower’s Certification and Lender’s Representative sections.
14 The Mortgagee field is automatically populated with the company name that was
specified in the Utilities > Company Defaults > Company Info dialog box. Edit the
field if needed to overwrite the default.
Related information
For more information about the Utilities > Company Defaults >
Company Info dialog box, refer to Entering default company and
processing center information, on page 28.
FHA 203(k) Worksheet (HUD–92700)
The HUD-92700, Maximum Mortgage Worksheet, helps to calculate the maximum
mortgage amount that is allowed for Streamlined (k) loans for purchases and refinances.
To access the Maximum Mortgage Worksheet:
1
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Open a borrower or prospect file.
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FHA and VA loans
2
Select Forms > Federal Housing Administration (FHA) > FHA 203(k) Worksheet
(HUD–92700).
The screen follows the printed form line-by-line. Grayed out fields are not accessible
unless they have a corresponding lock box, which when clicked, enables the field to
allow manual entry. Grayed out fields are calculated based on the input from other
screens and will auto-populate.
3
In the borrower section, enter the name and address of the borrower if those fields are
not already populated.
4
Complete all the other general loan information including the FHA Case Number field.
5
If the property is owned by HUD, select the HUD-REO Property check box.
6
Select Conditional or Firm in the Commitment Stage section.
7
Select the applicable options in the Type section.
8
In section A, Property Information, enter the applicable amounts, and select the
Existing Debt check box if the borrowers are taking over an existing loan.
The 110% After-Improved Value field is a calculated field and it is not accessible.
Borrower Paid Closing Costs + Prepaids (Refinance) is also a calculated field, however,
it has an associated lock box. Select the check box next to the lock box to enable the
field for manual editing.
9
Populate any accessible fields in Section B, Rehabilitation and Other Allowable
Costs.
Sections C & D are mortgage calculations for purchase and refinance transactions,
respectively. The enabled fields in these sections depend on whether the Purchase or
Refinance check box is selected.
Section E is calculated from previously-entered data.
10 Enter the up-front mortgage insurance premium information, escrowed funds, and
other missing fields, as needed, in the Summary section.
11 In the Borrower’s Acknowledgement section, the check box affects the 203(k)
borrower’s acknowledgment, a print-only form accessed from the FHA/VA Forms
dialog box.
12 Enter any comments in the Remarks field.
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FHA Application for Property Improvement
The FHA Application for Property Improvement is used to apply for credit to complete
improvements to a home or other property.
To open the FHA Credit Application for Property Improvement Loan, HUD form number
56001:
1
Open a borrower file.
2
Select Forms > Federal Housing Administration (FHA) > FHA Application for
Property Improvement (HUD–6001).
The screen follows the printed form, and all fields are shown in the same order as that on
the standard form.
When you complete the Borrower Information screen and other basic screens, much
of the information populates this screen.
FHA Consumer Choice Disclosure
Use the FHA Consumer Choice Disclosure to compare the typical costs of a conventional
mortgage product with the costs associated with an FHA-insured mortgage.
Attention
The Consumer Choice Disclosure comparison does not need to be based
on the loan on which you are working.
FHA requires that you compare an FHA loan with similar information for a conventional
loan.
Restriction
This option is available only to users who have access to secured areas.
Secured area access is specified for Point users in Point Administrator.
PointCentral users are granted access to company defaults as part of the
template set security settings.
If you are not granted access to secured areas, the option is disabled on
the Utilities > Company Defaults menu.
To open the FHA Consumer Choice Disclosure:
1
Open a borrower file.
2
Select Utilities > Company Defaults > FHA Consumer Choice Dis.
FHA Request for Insurance Endorsement
The information needed to enter correct mortgage insurance information is entered into
the Computerized Homes Underwriter Management System (CHUMS).
CHUMS can issue a reliable Mortgage Insurance Certificate (MIC). Enter the information
requested on the screen.
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The Request for Insurance Endorsement is a print-only form that is grouped with the FHA
Addendum to URLA (HUD 92900–A/26-1802a). It is shown on page 3 when you print the
Addendum pages.
Related information
For more information about the FHA Addendum to URLA form, see FHA/
VA Addendum to the URLA, on page 410.
FHA DE Statement of Appraised Value (HUD-92800.B)
The HUD-92800.B, (Conditional Commitment Direct Endorsement Statement Of
Appraised Value), establishes the terms upon which a commitment or direct endorsement
statement of appraised value is made.
It also states any specific conditions that must be met before HUD can endorse a firm
commitment for mortgage insurance.
To access the FHA DE Statement of Appraised Value (HUD-92800.B):
1
Open a borrower or prospect file.
2
Select Forms > Federal Housing Administration (FHA) > FHA DE Statement of
Appraised Value (HUD–92800.B).
The data in some fields is automatically populated from other screens.
Enter any missing information to complete the screens and ensure compliance. The
input screens make up the 6-page document that contains the following pages:
Page
Title
1
Lender’s Copy 1 of 6
2
Lender’s Copy 2 of 6
3
Case Binder Copy 3 of 6
4
Case Binder Copy 4 of 6
5
Home Buyer’s Copy of 6
6
Home Buyer’s Copy 6 of 6
FHA DE Analysis of Appraisal Report
The DE Analysis of Appraisal Report gives an honest assessment of the property
appraisal, making sure that it is a valid description of the property.
To open the FHA DE Analysis of Appraisal Report:
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1
Open a borrower file.
2
Select Forms > Federal Housing Administration (FHA) > FHA DE Analysis of
Appraisal.
3
Enter the information requested on the screen to report the validity of the appraisal.
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FHA loans
Request for Certificate of Veteran Status
In FHA loans for veterans earning benefits, this form is sent to the local VA office to
request an FHA certification of veteran status.
Requirement
The FHA requires that this form be completed for veterans to receive
benefits.
Populate all necessary fields. To open the Request for Certificate of Veteran Status, FHA
form number 9290 (VA form number 26-8261-a):
1
Open a borrower file.
2
Select Forms > Veterans Administration (VA) > VA Certificate of Veteran Status
(26-8261-a).
FHA Refi of Borrowers in Neg Equity (HUD-92918)
The FHA Refi of Borrowers in Neg Equity is used to disclose the states where a
borrower and co-borrower have previously resided and any aliases they currently use or
have used in the past. This information is used to verify eligibility for the refinance.
To complete the FHA Refi of Borrowers in Neg Equity:
1
2
Open a borrower file.
Select Forms > Federal Housing Administration (FHA) > FHA Refi of Borrowers
in Neg Equity (HUD-92918).
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The FHA Refi of Borrowers in Neg Equity is displayed.
The top section of the screen contains the U.S. states and territories and is used to
indicate where the borrower and co-borrower have resided in the last ten years. The
states or territories that are specified in the current and former addresses for the
borrower and co-borrower on the loan application are automatically selected.
The bottom section of the screen is used to enter any current and former aliases used
by the borrower and co-borrower.
3
Select any additional states where the borrower and co-borrower have resided that
are not already selected.
4
Complete the Legal Names in the Last 10 Years section.
a
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Click Add.
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VA loans
The Edit Alias dialog box is displayed.
b
Select the borrower or co-borrower name from the dropdown list, select the alias
type, and enter the first, middle, last, and suffix, if any, of the alias.
The Borrower or Co-Borrower check box is automatically selected accordingly.
c
Click Save & New to enter additional aliases.
When you are finished entering aliases, click Save & Close.
Use the Insert, Edit, and Delete buttons to add, change, or remove entries. Use
the Move Up and Move Dn buttons to move entries up or down in the list.
Restriction
You can enter up to a maximum of 10 aliases.
Note
The Borrower Aliases section is also located on the Banker > Closing
& HUD-1 > Closing screen.
VA loans
Veterans Administration forms, which are used for VA loans, are discussed in the following
topics.
VA Loan Analysis (26-6393)
If you are processing a VA loan, you must complete the VA Loan Analysis file. The VA loan
analysis is divided into five sections:
Point User Guide
Section
Description
A
Pertains to loan data.
B
Contains borrower’s personal and financial status.
C
Enumerates estimated monthly shelter expenses.
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Section
Description
D
Contains debts and obligation information.
E
Provides monthly income and deductions.
To complete the VA Loan Analysis:
1
Open a borrower file.
2
Select Forms > Veterans Administration (VA) > VA Loan Analysis (26-6393).
3
To use Loan Application data to populate this screen, click the From Loan App
button at the bottom of the workspace.
Many categories on the application do not fit on the VA Loan Analysis. Importing from
the Loan Application successfully combines the figures into a cohesive format.
In Section D - Debts And Obligations, there is an X column.
Related information
When you select a check box, the monthly payment that corresponds to
that row is displayed in the Less Obligations Listed in Sec. D Which Should
Be Deducted From Income field, line 40 in Section E.
VA Refinance Worksheet (26-8923)
Use this worksheet to calculate the maximum loan amount for a VA refinance. To open the
Interest Rate Reduction Refinancing Worksheet, VA form 26-8923:
1
Open a borrower file.
2
Select Forms > Veterans Administration (VA) > VA Refinance Worksheet – IRRRL
(26-8923).
3
Enter the following, then complete the final computations:
•
•
•
•
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Particulars of the original mortgage
Preliminary discount
Origination fees
Funding fees
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VA loans
VA Loan Summary Sheet (26-0286)
The 26-0286 enumerates the basic facets of the loan, including information about the
applicant, property, financing, and purpose of loan.
All closed loan packages that you submit to the VA for a loan guaranty must include the VA
Loan Summary Sheet, VA form 26-0286. To open the VA Loan Summary Screen:
1
Open a borrower file.
2
Select Forms > Veterans Administration (VA) > VA Loan Summary (26-0286).
VA Loan Comparison
This form is provided for borrowers refinancing VA loans. To open the VA Loan
Comparison:
1
Open a prospect or borrower file.
2
Select Forms > Veterans Administration (VA) > VA Loan Comparison.
VA Certificate of Eligibility (26-1880)
To determine whether a veteran is eligible for a loan, and to determine the amount of
available entitlement, use this form. Veterans or lenders can submit this form. You must
obtain the subsequent Certificate of Eligibility prior to the loan closing to ensure that a
veteran is eligible and possesses sufficient entitlement for a VA loan.
Important
You must submit VA form 26-1880, Request for a Certificate of Eligibility
for VA Home Loan Benefits, to determine the eligibility before sending a
Loan Application to the VA. You must send Proof of all listed military
duties to the VA along with this completed form.
To complete this form:
1
Open a borrower file.
2
Select Forms > Veterans Administration (VA) > VA Request for a Certificate of
Eligibility (26-1880).
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3
Enter the borrower name, address, DOB, phone, and e-mail if it is not prepopulated.
4
If you served in the military under a different name, check the applicable check box
and enter the name used in the corresponding field.
5
Specify whether you were discharged from the service or have any service-related
disabilities.
6
Enter your VA claim number.
7
Complete the Military Service section.
a
Select the check box to indicate whether you are on active duty.
b
Complete the Active Service information by completing the Branch, Date Entered,
Date Separated, and Service No. fields. The Officer check box is used to indicate
whether the borrower was enlisted or was an officer. Select the check box if the
borrower was an officer.
c
Complete the Reserve or National Guard section by completing the Branch, Date
Entered, Date Separated, and Service No. fields. The Officer check box is used to
indicate whether the borrower was enlisted or was an officer. Select the check box
if the borrower was an officer.
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8
9
Complete the Previous VA Loans section if you have received any previous VA loans.
a
Specify whether you own any homes that were purchased or refinanced with a
VA-guaranteed loan. If you select the Yes check box, the Date of Loan, Street
Address, and City and State fields become enabled for you to complete that
information. Select the Not Applicable check box if you do not have any VAfinanced loans.
b
If you are applying for the one-time restoration of entitlement to purchase another
home, select the Yes check box. The Date of Loan, Street Address, and City and
State fields become enabled for you to complete that information.
c
If you are applying for a restoration of entitlement to obtain a regular refinance on
your current home, select the Yes check box. The Date of Loan, Street Address,
and City and State fields become enabled for you to complete that information.
d
If you are refinancing an existing VA loan to obtain a lower interest rate without
receiving any cash proceeds, select the Yes check box. The Date of Loan, Street
Address, and City and State fields become enabled for you to complete that
information.
Click Save.
VA Verification of Benefit–Related Indebtedness (26-8937)
The borrower’s information is populated from the Loan Application. Enter any missing
data and mark the applicable Certification check box. To access this form:
1
Open a borrower file.
2
Select Forms > Veterans Administration (VA) > VA Verification of Benefit (268937).
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VA Request for Certificate of Reasonable Value (26-1805/26-1843)
The VA Request for Certificate of Reasonable Value (CRV) is created from an
appraiser’s estimate of the value of a property.
Note
Because the loan amount cannot exceed the estimate in this document,
the appraisal is usually the first step in a VA loan pipeline. Some of the
data for this certificate is populated from the Loan Application, but
much of it must be entered here.
To complete the VA Req/Cert of Reasonable Value (26-1805/26-1843) screen:
422
1
Open a borrower file.
2
Select Forms > Veterans Administration (VA) > VA Req/Cert of Reasonable Value
(26-1805/26-1843).
3
Complete the Case Number and HUD Sec or Act fields.
4
If the Property Address fields are blank, complete those fields.
5
Complete the Legal Description of the property.
6
Enter known title limitations. If none are known, enter None. Include easements,
special assessments, mandatory homeowner’s association memberships, etc.
7
Select the appropriate check box to indicate whether the property is a Condominium
or is in a Planned Unit Development.
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VA loans
8
If the requesting firm information is blank, complete the Name and Addr of Firm
Making Request field.
9
Complete the Lot Dimensions fields. Show frontage X depth. If irregular, indicate
dimensions of all perimeter lot lines.
10 Enter the e-mail address of the person to be notified when the appraisal is uploaded,
in the E-mail Address field.
11 Select whether the utilities, Electric, Gas, Water, and Sewer, are Public, Community,
or Individual.
12 Select the removable equipment that is included in the value of the property, such as
the Range/Oven, Refrigerator, Garbage Disposal, etc.
Personal property such as furniture and rugs are not valued and are not included in
the loan. However, wall-to-wall carpeting can be valued and included in the loan.
Use the blank field to add a user-defined equipment.
13 Complete the Building Status, Building Type, Factory Fabricated, Number of
Buildings, Number of Living Unit, Street Access, Street Maint., and Construction
Warranty Included fields as applicable.
14 In the Constr. Completed field, if the property was completed less than two years
earlier, enter both the month and the year the property was completed. If the property
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FHA and VA loans
was completed more than two years earlier, insert only the year the property was
completed.
15 Complete the owner name, property occupancy, rental information, name of occupant
and broker, originator and sponsor identification number, and institution case number
fields.
16 If the borrower information is not automatically populated, enter the borrower
information in the Purchaser fields.
17 Complete the New or Proposed Construction fields.
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18 Enter the Applicable Point of Contact information.
19 Enter the Annual Real Estate Taxes.
20 Specify whether the mineral rights are reserved. If reserved, explain in the space
provided or, if necessary, use a separate page.
21 If the property involves a leasehold, specify whether the lease is for 99 years or is
renewable, and enter the expiration date and the annual ground rent.
22 If the Sales Price of Property is not automatically populated, enter the purchase price
in the fields and specify whether the buyer is purchasing the lot separately.
23 If the loan is a refinance, enter the proposed refinance amount.
24 If the sale contract is attached, specify Yes, otherwise select No.
25 Enter the Title and Phone of the person authorizing the request and enter the current
date.
26 Enter the Date of Assignment.
27 If the appraiser information is not automatically populated, enter it in the Name of
Appraiser fields.
28 Click Save.
VA Certificate of Loan Disbursement (26-1820)
This form is provided for lenders closing VA loans. To access this form:
1
Open a prospect or borrower file.
2
Select Forms > Veterans Administration (VA) > VA Certificate of Loan
Disbursement (26-1820).
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Integrated products and
services
9
Point can serve as an interface to interact and exchange data online with various lenders
and service providers.
The following types of interfaces are available:
Lenders
The Lenders interface provides access to participating wholesale lenders through
Point. You can access various lender-specific loan forms on their web site and
submit them directly to the lender. Enabled lenders are accessible from the
Lenders menu.
Services
The Services interface provides access to participating mortgage service
providers through Point. Services such as requesting credit reports, title
documents, closing documents, and insurance quotations are available from the
Services menu. Enabled providers are selected from the request screen for the
service being ordered.
Interfaces
The Interfaces function provides access to participating vendors that have
integrated their software with Point. Vendors that are available through the
interfaces function include Fannie Mae Desktop Originator®, Desktop
Underwriter®, and EasyCheck™, Freddie Mac Loan Prospector®, WebCaster,
and various service providers. Enabled interface providers are accessible from
the Interfaces menu.
Requirement
To order a product or service from a specific provider, the provider must
be a participating vendor in Point and be enabled in Point.
In this topic
•
•
•
•
Enabling and disabling providers
Lenders
Services
Interfaces
Enabling and disabling providers
Enable and disable interface providers to customize the Lenders, Services, and
Interfaces menus for your specific business requirements.
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Integrated products and services
The user interface to enable and disable providers is very similar for lenders, services,
and interface vendors. To illustrate the basic process of enabling and disabling providers,
the Lenders option is used in the following example:
1
Select Utilities > Enable/Disable Lenders.
Attention
When enabling or disabling services, you need to select a service type
from the submenu to open the service provider dialog box.
When enabling or disabling interface vendors, use the dropdown list in
the provider dialog box to select the interface type.
The Lenders in Point dialog box is displayed.
The check mark in the box preceding the lender name indicates that the lender is
enabled.
2
Select the vendors to include or exclude from the Lenders menu by selecting or
unselecting the corresponding check box.
Use the Select All or Deselect All button to select or unselect the entire vendor list.
3
To enable the entire lenders interface, select the Enable lender interfaces check box.
4
Click OK.
Lenders
Lenders that are partnered with Calyx provide access to their services from Point. You can
complete your transactions with a prospective lender through the Point user interface.
When you submit a request to a participating lender, the interface processes the
transaction and communicates with the necessary back-end services to complete it.
Prerequisites
Before you can use a participating lender:
•
•
You must become a registered broker with the lender
You must enable the lender in the Point utility
Some of the following benefits are achieved by using Point lenders:
•
•
•
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Better pricing through automation
Fully adjusted live rate sheets displayed in seconds
Automated underwriting decisions in minutes
Calyx Software
Lenders
•
Instant online locks
If your preferred lender is not already partnered with Calyx, ask the lending organization to
contact Calyx Software Sales department to become a participating lender.
Recommendation
It is recommended that you verify your approval status and the territory
that a lender covers before you use the Point interface.
Using the lender interface
Before you can begin working with any of the Point lenders, you must register and become
an approved broker for that lender.
To become approved by the lender:
Important
These instructions are general as the registration process differs among
the lenders. For more specific information about becoming an approved
broker, refer to the lender’s online help.
1
Open a prospect or borrower file.
2
Select Lenders > [Name of lender] > Getting Started.
The lender’s web site opens in a browser.
Peruse the web site to become familiar with a lender and the services that they offer.
3
To continue the approval process, navigate to the lender’s broker approval page.
4
Complete and submit the required information.
5
When the request is approved, a link similar to Broker Signup or Becoming Approved
is displayed.
If a link is not displayed, contact the lender by telephone to complete your registration.
Note
The products and services offered by lenders will vary.
6
After the registration process is approved, you can access lender-specific loan forms
and the lender’s web site from the Lenders menu.
Information that was already entered into other Point screens is automatically
populated in the lender forms.
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Use the lender’s online help system for detailed information about processing online
transactions.
Related information
•
For information about enabling lenders in Point, see Enabling and
disabling providers, on page 427.
•
Refer to the Calyx Software web site to view a current list of lenders
that are integrated in Point.
Services
Use the Services interface to order documents and services from providers directly from
the loan file. The following services are available in Point:
•
•
•
•
•
•
•
AVM reports
Closing documents
Credit reports
Flood certification
Initial disclosures
Title reports
Verifications
Each option uses a similar process to request, view, and print the information.
Services are accessible from the Services menu.
Requesting services
Services are accessible from the Services menu. The following example uses the credit
report request to illustrate how to request a service.
Refer to the topic for a particular service for additional information about that service or for
prerequisites and exceptions to this process.
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Services
To request a service:
1
Select Services > Credit Reports > Request Credit.
A typical request dialog box contains fields on the left to specify a provider; report,
quote, or product type; request type; requester information; and reference number. In
addition to the standard information, information that is specific to the service being
requested is also included.
The right side of the dialog box is typically used to supply loan information such as
borrower name and address, property type and address, loan purpose, lender
information, and other relevant information for the type of request.
2
Select the agency that you want to provide the service from the dropdown list. In this
case, select the name of credit agency to supply the credit report.
Tip
Customize your list of providers by using the Enable/Disable Service
utility.
The vendor telephone number and web page links are provided if you need to contact
them for additional information or to create or update an account.
If an agency requires an authentication certificate, a link to request a certificate is also
provided.
The Report Type section is enabled or is populated with the products and services
that the selected company provides.
3
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Select the product or service that you want to order.
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Integrated products and services
4
Select the type of request that you are making from the Request Type section.
Request types can include:
•
•
•
•
•
•
Place a new order
Re-issue a previous order
Check status of an existing order
Update an order
Change an order
Cancel an order
If the request is for an existing order that was placed through this interface, the Order
Reference Number field, or equivalent, is automatically populated with the reference
number of the original order.
5
Complete the Requested By section, if available, with the requester information.
6
Complete the loan information for the request (the information on the right side of the
screen).
Much of this information is prepopulated from the Loan Application. However, some
of the information is specific to the type of request that is being made and must be
entered manually.
For example, an AVM request requires a legal description of the property and other
property-specific information. A credit request requires only information about the
borrower, not the property being purchased.
7
When you are finished entering the requested information, click Submit.
If you do not enter data in a required field, a dialog box is displayed that contains the
list of required fields with missing or invalid data.
A login dialog box for the selected provider is displayed.
8
Enter your user ID and password and click OK.
Some providers require an account number and branch ID. If so, the fields are
enabled in the login dialog box.
The Account Number, Branch ID, and User ID are automatically saved for future
access to this provider.
To save your password, select the Save Password check box.
The request is submitted and processed. Some of the services display the request
when it is received from the provider. Other services display a dialog box where you
select the item to view or print. If a title, escrow, or flood request is pending for a loan
file when you open it, a message is displayed that indicates a request is pending with
an option to check the status.
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Services
Documents that are requested through Calyx Services are automatically stored in the
document repository when it is received from the provider.
Related information
•
For information about the document repository, refer to Electronic
document storage, on page 589.
•
For information about enabling and disabling providers, refer to
Enabling and disabling providers, on page 427.
•
Refer to Checking pending request status, on page 434, for
information about checking the status of pending requests.
•
Refer to Correcting submission errors when ordering services,
on page 436, for information about how to correct fields with
missing or invalid data.
Obtaining an authentication certificate
Some flood and credit reporting agencies require that a certificate which authenticates the
user with the agency’s server be installed on the user’s computer. This authentication is
required to order services from these agencies.
The flood and credit reporting agencies that require an authentication certificate display a
Request Certificate link below the Agency dropdown list when they are selected.
When this link is clicked, the agency’s web browser is opened to their Request Certificate
URL page. Follow the agency’s instructions for obtaining the certificate.
If an agency requires a certificate and one is not installed on the machine when a request
is submitted, the user is automatically directed to the agency’s web site to request a
certificate.
Important
An authentication certificate is issued to a computer, not an individual.
Therefore, the certificate is required on every computer that is used to
make requests to the agency.
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Checking pending request status
When a title, escrow, or flood request is pending for a loan, you can retrieve the status
when you open the loan file.
To retrieve the status of a pending request for title report, escrow, or flood report:
1
Open the loan file with a pending request.
The Services: Pending Orders dialog box is displayed if a response was received
from the provider.
The orders with a response from the provider are listed in the dialog box.
2
Select the check boxes for the services you want to view and click OK.
Click Cancel to go directly to the loan file.
3
Enter your login information for the selected provider and click OK.
The view report dialog box is displayed.
If you click Cancel, the next provider’s login dialog box is displayed. If another provider
is not selected, the loan file is displayed.
4
Click View to open the report or click Close to proceed to the next vendor.
When the request for a service is successful, the documents are automatically stored in
the document repository and the ordered and received dates are automatically updated in
the loan checklist and third party documents, if those date fields are empty.
Attention
The ordered and received dates are not updated if the field is already
populated with a date. A date is automatically inserted only when the
fields are empty.
Retrieving, printing, and saving service requests
After documents or services are requested for a loan for the first time, you can retrieve
them at a later time for viewing and printing.
The following example uses Closing Documents to illustrate how to access reports and
documents that were already ordered and received.
To view and print an order after it is received:
1
434
Select Services > Closing Documents > View Documents menu.
Calyx Software
Services
The View/Print Documents dialog box is displayed.
By default, all documents are selected.
2
Remove the documents from the list that you do not want to view or print or click
Unmark All to remove all documents from the list and select them individually.
3
Click View/Print.
A PDF file is produced that contains all of the selected documents.
Tip
You can also view and print the documents from the document
repository. Select eLoanFile > Document Management to access the
document repository.
4
You can do the following actions:
•
•
5
To print the file, click Print or click the print icon.
To save the PDF file to a location of your choice, click the Save icon.
Click Close when finished with the file.
When only a single document is returned for the following services, selecting the View
menu option opens the document in pdf or HTML format at the time the request is made:
•
•
•
•
AVM report
Credit report
Flood certification
Title report
To print the report in this view, click the Print button.
To save the report in this view, click the Save icon.
Related information
For more information about the document repository, refer to Electronic
document storage, on page 589.
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Correcting submission errors when ordering services
When the request is submitted, the information in the request is verified during
transmission. If any required data is invalid or is missing from the request, a dialog box is
displayed that contains a list of fields with errors.
To correct the fields that contain invalid or are missing data:
1
Double-click the field name or click Go To Field to go to the field that caused the error.
2
Add or correct the data as needed for the field in error.
Click Refresh to remove the fields that were corrected from the list. After all fields are
corrected, click Refresh to close the dialog box and return to the request dialog box.
3
Click Submit to resubmit the request.
AVM reports
Automated Valuation Model (AVM) reports use multiple regression analysis and
geographic information systems to formulate the value of a piece of real estate. You can
order AVM reports for the loans that you process.
Related information
Refer to Requesting services, on page 430, for information about how
to request an AVM report.
Populating AVM data
You can populate selected data from the AVM report to the Loan Application.
To populate the Loan Application with the results of the AVM report:
1
436
Open the Populate Results dialog box by doing one of the following:
Calyx Software
Services
Select Services > AVM Reports > Populate Results or select Services > AVM
Reports > View AVM and click Populate Results.
By default, all options are selected.
2
Select or deselect the check box next to the AVM result to add or remove the item
from the loan file.
3
Click Populate to populate the file with the AVM data.
Click Don’t Populate to return to the loan file without populating the AVM data.
Initial disclosures and closing documents
The interface for ordering initial disclosures and closing documents is the same as for
other services. However, there are some significant differences between the interface for
these and other services.
With the initial disclosures and closing documents interface:
•
•
•
•
You must specify the investor and product before you request the documents. If a
product and investor are not specified, an error will occur when the request is
submitted.
The request dialog box does not require any loan information. The loan
information that is required for the request is retrieved from the screens in Point.
Information that is not part of the loan file in Point might be required by some
providers. An interface is available to submit vendor-specific data.
If the analyze feature is configured on your system, you can view an analysis of
your loan data to determine if it is in compliance.
Related information
Point User Guide
•
For more information about specifying investors and products, refer
to Specifying investors and products, on page 438.
•
For more information about the analyze feature, refer to Credit
reports, on page 446.
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Integrated products and services
Specifying investors and products
Before ordering closing documents and initial disclosures, you must first select the
investors and the product.
Tip
You can also specify investors and products from the Closing and Loan
Product screens.
To specify the vendor to provide the documents:
1
Open a borrower file.
2
Select Services > Closing Documents > Select Product (or Services > Initial
Disclosures > Select Product).
Requirement
If you attempt to specify a documents provider in a file that was not
previously saved, a message is displayed that prompts you to save and
name the file.
The Select Product window is displayed.
The first time this screen is accessed, the Select Product list is empty.
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3
Click Update Products to update a provider list with the investors and products that
they currently offer.
Recommendation
Update the Select Product list regularly to verify that your product
selection is still available. If the selected product was discontinued after
the product selection was made, an error will occur when you submit
your request.
The document provider login dialog box is displayed.
4
Select a provider from the Documents Provider dropdown list.
The provider telephone number and web page links are provided if you need
additional information or need to create or update an account.
5
Enter your User ID and Password for the selected document provider and click
Submit. Depending on the document provider, you also might be required to enter
your account number and branch ID.
Requirement
If you do not have a user ID and password for the provider that you want
to use, contact them to set up an account.
The Account Number, Branch ID, and User ID are automatically saved for future
access to this provider.
To save your password, select the Save Password check box.
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The Select Product window is displayed again with the selected provider’s investors
and products listed.
The top of the screen indicates when the last update was made and displays the
name of the current provider.
Click the + sign next to the investor name to expand the product list and enable the
Select Product button. Click the - sign to contract the product list.
This selection is retained until you specify a different provider.
6
Select the product that you want to order and click Select Product.
The investor and product information are selected.
Related information
•
For more information about the Loan Product screen, refer to
eLoanFile, on page 587.
•
For more information about the Closing screen, refer to Closing
loans, on page 325.
Ordering initial disclosures and closing documents
After you select the product and the investor, you can order the initial disclosures and
closing documents from the Services menu.
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Services
To order initial disclosures and closing documents:
1
Select Services > Initial Disclosures > Request Initial Disclosures (or Services >
Closing Documents > Request Documents).
Tip
You can also request initial disclosures and closing documents from the
Banker > Closing and eLoanFile > Loan Product screens.
Troubleshooting tip
If an error occurs when you submit the request, it is possible that the
specified investor or product is no longer offered by the selected vendor.
Update the products list to refresh the investors and products that are
available from the vendor that you want to use.
Only information that is specific to the request is included in the dialog box.
The provider that was last selected from the Select Product window is automatically
populated in the Document Provider dropdown list.
Attention
If you do not select the provider that was selected in the Select Product
screen, an error will occur when you click Submit. Therefore, to avoid an
error, the provider is preselected.
2
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Select the disclosure package type from the dropdown list.
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Integrated products and services
3
To receive the documents through e-mail, enter your e-mail address in the field. To
enter multiple recipients, separate each e-mail address with a comma or semi-colon.
If the provider does not offer e-mail delivery of the documents, the Disclosure
eDelivery field is disabled.
4
If a file audit is required before ordering docs, click Submit.
Some document vendors support the ability to audit a file before drawing documents
to give you the opportunity to correct any items in the file before being charged for the
doc order.
If the Audit button is enabled, an audit is required and you cannot order docs until an
audit is done. After the audit is completed and you have an order reference number,
you can proceed to order documents.
5
Select the request type, enter the order reference number, if applicable, and click
Submit.
If you do not enter data in a required field, a dialog box is displayed after you submit
the entry that contains the list of empty fields or fields with invalid data.
Tip
To view disclosure and closing documents, select Services > Initial
Disclosures > View Disclosures or Services > Closing Documents
> View Documents at any time after the documents are received. If the
documents were not received yet, the View Disclosures option is
unavailable.
6
When the requested documents are returned by the provider, the View/Print
Documents dialog box is displayed.
By default, all documents are preselected.
7
Remove the documents from the list that you do not want to view or print, or click
Unmark All to remove all documents from the list and select them individually.
When clicked, the Unmark All button changes to Mark All.
8
Click View/Print.
A PDF file is produced that contains all of the selected documents.
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Services
If the analysis function is configured for the document provider, the Audit Feedback
screen is displayed.
When the request for initial disclosures or closing documents is successful, the TIL Discl/
GFE ordered and received dates are automatically updated in the loan checklist and third
party documents if those date fields are empty.
Related information
•
For more information about the Loan Product screen, refer to
eLoanFile, on page 587.
•
For more information about the Closing screen, refer to Closing
loans, on page 325.
•
For information about how to update the product and providers lists,
refer to Specifying investors and products, on page 438.
•
Refer to Viewing loan data analysis and correcting submission
errors, on page 443, for information about how to correct fields
with missing or invalid data.
Viewing loan data analysis and correcting submission errors
After the documents or disclosures are requested, an analysis of the loan is generated.
When the request is made, the loan data is reviewed and analyzed to verify compliance.
Each item that is out of compliance is listed in the Audit Feedback dialog box.
If the feature is configured for your office, the analysis is done automatically and is
displayed after the document request is complete.
To view the loan analysis, select Services > Initial Disclosures > View Analysis or
Services > Closing Documents > View Analysis.
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The Audit Feedback dialog box is displayed.
When you request an audit, the loan information is verified prior to submitting the request
for documents. When you request initial disclosures or closing documents, the loan
information is verified during transmission. The Audit Feedback dialog box displays data
from the loan that is invalid, missing, or information that is simply an audit message or
compliance warning. Invalid, missing, and vendor-specific data is displayed in the Audit
Results and Vendor Specific Data tabs. Depending on the loan file, additional tabs that
contain reports or other data might display after the audit is complete, such as the
Compliance Result tab as shown in the Audit Feedback dialog box.
To correct the fields that contain invalid or missing data:
1
2
In the Audit Results tab, double-click the error or select the error and click Go To Field
to navigate to the screen and the field that caused the error. If the missing information
is vendor-specific, the Vendor Specific Data tab is displayed.
Enter a value in the field and select the check box next to the item on the Audit
Feedback dialog box.
The item is crossed out on the list.
3
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Continue with the remaining items in the Audit Results tab.
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Services
The Vendor Specific Data tab contains fields that are not included in Point but are
required by the selected document provider.
Note
After a report is requested from a vendor for the first time and the
required missing fields are recorded in the Vendor Specific Data
screen, the field names are retained when subsequent loans use the
same vendor.
4
Enter the missing data in the Content field or select an option that is provided from the
dropdown list.
To clear the data from the Vendor Specific Data fields, click Remove Fields and reply
Yes to the confirmation prompt. The data is removed from the corresponding fields
and the Vendor Specific Data tab is removed from the Audit Feedback dialog box.
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5
When all errors are corrected, click Order Docs to resubmit the request.
Note
The Order Docs button label is dynamic and depends on the Request
Type selected from the Closing Documents Request dialog box. For
example:
•
•
•
•
if Order New Documents is selected, the button label is Order Docs
if Audit is selected, the button label is Audit
if Redraw Documents is selected, the button label is Redraw
if Check Status of Pending Order is selected, the button label is Check
Status
Click Close to the close the dialog box without completing the request. If the Audit
Feedback dialog box was displayed as the result of a request for closing documents
or when documents are returned, the View/Print Documents dialog box is
displayed.
Credit reports
The process for ordering credit reports includes some exceptions to the normal process
for ordering services.
Tip
In addition to using the Services menu, you can also request credit from
page 3 of the Loan Application.
The following exceptions apply when ordering credit reports:
•
•
•
•
•
446
Some credit reporting agencies require that a user authentication certificate be
installed on the computer where the request is being made before a request for
credit is processed.
You can pay for a credit request and verification request by credit card when the
provider offers it as a payment option.
Some borrowers might require a PIN to access a frozen credit report from any of
the credit bureaus. Before you can submit the request, you must obtain the PIN
number for the specific credit bureau from the borrower, click the Credit PIN
button, and enter the PIN in the field that corresponds to the credit bureau in the
field.
You can populate the Loan Application with the borrower liabilities.
You must submit separate credit report requests for each set of co-borrowers on
the loan. Select the borrower or co-borrower from the Bor/Co-Bor menu to
access the co-borrower loan file.
Calyx Software
Services
•
If the information that is received from the credit report is recognized by Point, the
minimum and maximum credit scores are populated into the applicable fields on
the Credit Score Disclosure.
Attention
Point does not see or process the credit information. If you receive an
error, contact the agency to verify receipt of your request.
The values are shown in the following table:
Model name type
Min score value
Max score value
TransUnion Empirica
336
843
FICORiskScoreClassic04
336
843
EquifaxBeacon 5.0
300
850
EquifaxBeacon
363
850
ExperianFairIsaac
300
850
Related information
Refer to Requesting services, on page 430, for information about how
to request a credit report.
Populating liabilities and viewing credit reports
Use the Populate Liabilities feature to import information from the borrower’s credit report
into the loan file. By default, all debts and accounts in the credit report are designated to
be imported into the loan file when the credit report is generated. With the Populate
Liabilities dialog box, you can specify which accounts to add to the Loan Application
and which accounts to ignore.
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To populate the Loan Application with the borrower’s liabilities:
1
The Populate Liabilities dialog box is opened at the time the credit report is initially
received after the order is placed. To open the dialog box at a later time, select
Services > Credit Reports > Populate Liabilities.
Tip
The Populate Liabilities dialog box is also accessible from page 3 of
the Loan Application.
The accounts on the borrower’s credit report are listed in the Liabilities to be
Imported section of the dialog box.
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The following options are available to specify the disposition of each liability:
Ignore
Moves the selected liabilities from the Liabilities to be Imported list into the
Liabilities to be Ignored list and does not import them into the Loan Application.
Import
Moves the selected liabilities from the Liabilities to be Ignored list into the
Liabilities to be Imported list and imports them into the Loan Application.
Ignore $0 Balance
Moves all accounts with a zero balance to the Liabilities to be Ignored list and
does not import them into the Loan Application.
Ignore Closed
Moves all closed accounts into the Liabilities to be Ignored list and does not
import them into the Loan Application.
Attention
Closed accounts include any liabilities with the following status in the
Account Status column:
•
•
•
•
Closed
Paid
Transferred
Refinanced
2
Specify the disposition of the borrower’s liabilities by using the Ignore, Import, Ignore
$0 Balance, and Ignore Closed buttons.
3
Click Populate.
The Loan Application is populated with the liabilities. If you click Don’t Populate,
the Loan Application is not populated with the liabilities.
Related information
For more information about populating liabilities from the Loan
Application, refer to Entering liabilities, on page 151.
Flood certifications
Before completing the loan paperwork, you must determine the flood status of the
property. The flood status is usually completed during the processing/underwriting phase
of the mortgage pipeline.
Tip
In addition to ordering flood reports from the Services menu, you can
also order them by clicking Request Flood in the following screens:
•
•
•
Point User Guide
Flood Certification Work Order
Flood Hazard Determination
Flood Hazard Notice
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The following information is applicable when ordering a flood certification:
•
•
Some flood agencies require that a user authentication certificate be installed on
the computer where the request is being made before a request for a flood report
is processed.
At the time you order a flood certification, you can specify that the flood
information automatically populate the loan file by selecting the Copy Flood
Hazard Information to this loan check box.
•
It is not necessary to order a flood report for co-borrowers on the loan because
the request is for the property, not for an individual.
•
The Rush Order check box is displayed only if this option is supported by the
flood provider. The default for this option is not selected. To rush your order, select
the check box.
If the request is successful, you will receive the report back from the vendor
immediately.
If there is a delay with the report, the following message is displayed:
“Your request is being processed. Click on Request Flood again at a later time
and select Check Status of Pending Order”
If an error occurs during the request process, a message is issued that indicates
the cause of the problem and the action that you should take to correct it.
•
•
Tip
Track the status of your flood request on the Track > Status and
Checklist screen.
Related information
•
Refer to Loan status tracking, on page 526, for more information.
•
Refer to Requesting services, on page 430, for information about
how to request a flood certification.
•
Refer to Checking pending request status, on page 434, for
information about retrieving pending flood requests.
•
Refer to Obtaining an authentication certificate, on page 433,
for information about obtaining an authentication certificate for your
computer.
Title and escrow
Title reports are ordered to verify the title status of the property being purchased. Title
experts examine specific public records, collect all matters of record that pertain to the
property’s title, and send a copy to the customer. Ordering a title report ensures that all
parties are aware of any matters that could affect the title. The title company then specifies
the status of the parcel of property.
Point stores all the title reports that were requested for a file in the document repository
and displays them in chronological order.
Title companies also sometimes manage the escrow account that is established to hold
borrower funds for the property sale and disburse them when the transaction is complete.
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The right portion of the Title/Escrow Request dialog box contains multiple tabs that are
used to request title documents, establish title on the property being purchased, and
establish escrow parameters. The following tabs are available:
Title
Use to specify order details for ordering a title report.
Escrow
Use to specify order details for setting up escrow.
Borrowers
Contains information about the primary borrower and up to four additional coborrowers.
Order Details
Contains information about the property and mortgage.
Agents
Contains contact information for the broker, lender, and seller.
Lien Payoffs
Contains lien payoff information for the subject property.
Other Payoffs
Contains payoff information for other debts of the borrower.
The Borrowers, Order Details, and Agents tabs are populated from information that is
retrieved from other screens in the loan file.
Ordering title reports and escrow
Ordering title
The information in the Title tab is used to order title reports, update or change an order,
check the status of a pending order, send associated documents, cancel an order, and
specify ordering preferences.
To complete the Title/Escrow Request dialog box:
1
Point User Guide
Select Services > Title/Escrow > Request Title/Escrow.
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The Title tab contains information needed to order the title report. These fields are
enabled only when the Title check box is selected.
2
Select the title company you want to use from the Title/Escrow Company dropdown list.
Note
If the vendor you have selected does not provide title services, the fields
in the title section are disabled and you are unable to enter any
information or make selections.
3
Select the Title check box from the Order Type section.
Attention
If you are opening escrow and ordering the title report from the same
company, you can submit the requests at the same time.
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4
Select the type of request you are making from the title order type options.
Restriction
It is not possible to request different types of title and escrow services
simultaneously.
For example, you cannot check the status of a pending title report order
at the same time you are making an open escrow request. An error
message is displayed if an invalid combination of services is requested.
The default order type selection is determined by the current order status. For
example, if an order was not yet submitted for the current loan, the Order New Title
option is selected. If the order was requested but was not yet received, the Check
Status option is selected.
Important
The order type options can vary depending on the vendor configuration.
5
Enter an Order ID, if applicable.
Otherwise, the Order ID field is automatically populated after the order is successfully
accepted by the provider.
6
To place the order with a specific branch of the title company, click the Refresh Branch
Office/Products button to refresh the dropdown list.
A login dialog box is displayed.
7
Enter your login information for the selected title company and click OK.
If the information is available, the office, products, and title officer information is
automatically populated.
8
Select the branch office from the dropdown list.
9
Select the check box next to the products you want to order and select an option from
the corresponding dropdown lists.
10 Enter the name of title officer or select the name of the title officer you want to work
with from the dropdown list.
This field is automatically populated if the information was entered in the loan file.
11 Enter additional information, amendments, or endorsements in the provided field.
12 To include an additional document with the request, select Send Document to Title
Company and click Select....
Attention
This option is available only if the selected provider is configured to
receive documents electronically.
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The Select File dialog box is displayed.
13 Select whether you want to send the document from the document repository or send
a file from your computer. Click the Browse button that corresponds to your selection.
Restriction
You can attach only one document to the title request.
14 If you selected Send from Document Repository, the Document Management
dialog box is displayed.
a
Select the document to include and click the Select button.
b
Click OK in the Select File dialog box.
The Title/Escrow Request dialog is displayed. The document is sent when the
request is submitted.
If you selected Select a file on your computer, the Microsoft Windows Choose file
dialog box is displayed.
a
Navigate to the location where the document is stored on your computer and
select the file.
Attention
If the file is not already in PDF format, you can select the file format from
the dropdown list to view the file.
The following file types are supported:
•
•
•
•
b
pdf
doc, docx
txt
tif, tiff
Click Open.
The document is displayed in the Document Information Preview.
c
Select the category and type and click Add.
d
Click OK in the Select File dialog box.
The Title/Escrow Request dialog is displayed. The document is sent when the
request is submitted.
15 Complete the information in the remaining tabs as needed and click Submit.
The request is submitted to the selected provider.
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Ordering escrow
The information in the Escrow tab is used to open escrow, update or change an escrow
request, check the status of a pending request, send associated documents, cancel the
request, and specify the escrow request preferences.
To make a request to open escrow:
1
Select Services > Title/Escrow > Request Title/Escrow.
2
Select the escrow company you want to use from the Title/Escrow Company dropdown
list.
Note
If the vendor you have selected does not provide escrow services, the
fields in the escrow section are disabled and you are unable to enter any
information or make selections.
3
Select the Escrow check box.
Attention
If you are opening escrow and ordering the title report from the same
company, you can submit the requests at the same time.
4
Select the type of request you are making from the escrow order type options.
Restriction
It is not possible to request different title and escrow services
simultaneously.
For example, you cannot check the status of a pending title report order
at the same time you are making an open escrow request. An error
message is displayed if an invalid combination of services is requested.
The default order type selection is determined by the current order status. For
example, if a request was not yet submitted to open escrow for the current loan file,
the Open Escrow option is selected. If the order was requested but was not yet
received, the Check Status option is selected.
Important
The order type options can vary depending on the vendor configuration.
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5
Click the Escrow tab.
The Escrow tab contains information that is needed to set up escrow. These fields are
enabled only when the Escrow check box is selected.
6
To place the order with a specific branch of the title company, click the Refresh Branch
Office/Products button to refresh the dropdown list.
A login dialog box is displayed.
7
Enter your login information for the selected escrow company and click OK.
8
Select the branch office from the dropdown list.
9
Enter the name of escrow officer or select the name of the officer you want to work
with from the dropdown list.
This field is automatically populated if the information was entered in the loan file.
10 Enter additional information, amendments, or endorsements in the provided field.
11 Enter the escrow number in the Escrow Order Number field.
12 To include an additional document with the request, select Send Document to
Escrow Company and click Select....
Attention
This option is available only if your organization is configured to receive
documents electronically.
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The Select File dialog box is displayed.
13 Select whether you want to send the document from the document repository or send
a file from your computer. Click the Browse button that corresponds to your selection.
Restriction
You can attach only one document to the title/escrow request.
If you selected Send from Document Repository, the Document Management
dialog box is displayed.
a
Select the document to include and click the Select button.
b
Click OK in the Select File dialog box.
The document path is entered in the Send Document to Escrow Company field and
will be sent when the request is submitted.
If you selected Select a file on your computer, the Microsoft Windows Choose file
dialog box is displayed.
a
Navigate to the location where the document is stored on your computer and
select the file.
Attention
If the file is not already in PDF format, you can select the file format from
the dropdown list to view the file.
The following file types are supported:
•
•
•
•
b
pdf
doc, docx
txt
tif, tiff
Click Open.
The document is displayed in the Document Information Preview dialog box.
c
Select the category and type and click Add.
d
Click OK in the Select File dialog box.
The document path is entered in the Send Document to Escrow Company field and will
be sent when the request is submitted.
14 Complete the information in the remaining tabs as needed and click Submit.
The request is submitted to the selected provider.
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The Order ID field is automatically populated after the order is successfully accepted
by the provider.
Ordering title and escrow, borrower information
The Borrowers tab contains information about the borrower and co-borrowers. Most of
these fields are populated from information in the Borrower Information screen.
To complete the Borrowers tab:
1
Select the Borrowers tab after completing the order information in the Title and Escrow
tabs.
The information for the first borrower in the Borrower Information screen is
populated in the Primary Borrower section. The co-borrower information is populated
in the Co-Borrowers section. Any additional co-borrowers are also listed here.
2
Edit the borrower information if necessary.
To edit the co-borrower information, select the co-borrower you want to edit and click
Edit Selected.
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The Edit Co-Borrower dialog box is displayed.
3
Edit the information as required.
The Marital dropdown list is used to specify the marital relationship between the
borrower and co-borrower or the marital status of the co-borrower.
4
Select the On Title check box if the co-borrower is to be listed on the title.
5
Complete the information in the remaining tabs as needed and click Submit.
The request is submitted to the selected provider.
Ordering title and escrow, order details
The Order Details tab contains information about the borrower and co-borrowers. Most of
these fields are populated from information in the Borrower Information screen.
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1
Select the Order Details tab after completing the order information in the Title, Escrow,
and Borrowers tabs.
2
Enter or edit any information as needed.
3
Complete the information in the remaining tabs as needed and click Submit.
The request is submitted to the selected provider.
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Ordering title and escrow, agent information
The Agents tab contains contact information about the broker, lender, and seller.
1
Select the Agents tab after completing the order information in the Title, Escrow,
Borrowers, and Order Details tabs.
If the Tracking > Agent screen was completed, the information is automatically
populated in the Agents tab.
2
Enter any missing information in the Broker/Originator, Lender, and Seller sections.
Tip
Click the Cardex icon to retrieve agent information from the Cardex
database.
3
Complete the information in the remaining tabs as needed and click Submit.
The request is submitted to the selected provider.
Ordering title and escrow, lien payoff information
The Lien Payoffs tab is used to record lien payoff information for the subject loan.
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To specify which liens are to be paid at closing:
1
Select the Lien Payoffs tab after completing the order information in the Title, Escrow,
Borrowers, Order Details, and Agents tabs.
2
Select the lien position of the debt.
3
Select a lien from the Payee Name dropdown list. The list of options is the mortgage
and credit liens from the Real Estate Owned section of the Loan Application.
4
Continue to enter lien payoffs for all of the property liens.
5
Complete the payoff information for up to five liens.
To update entries on the list after they are changed on the Loan Application, click
the Refresh Payoffs button.
When Point receives a response from the provider, a message is displayed the next
time you open the loan file.
The total amount of the liens to be paid is calculated and populated in the Total
Payoffs field.
6
Complete the information in the remaining tabs as needed and click Submit.
The request is submitted to the selected provider.
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Ordering title and escrow, other payoff information
The Other Payoffs tab is used to record payoff information for the subject loan.
To specify which liabilities are to be paid at closing:
1
Select the Other Payoffs tab after completing the order information in the Title, Escrow,
Borrowers, Order Details, Agents, and Lien Payoffs tabs.
2
Click Add.
The Edit Other Payoff dialog box is displayed.
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3
Select the Payee from the dropdown list. The list of options is from the Liabilities
section in the Loan Application.
The Account #, Amount, and Liability Type fields are automatically populated.
4
Click Save & New to enter additional payoffs.
When you are finished entering other payoffs, click Save & Close.
Use the Insert, Edit, and Delete buttons to add, change, or remove entries.
To update entries on the list when they are changed on the Loan Application, click
the Refresh Payoffs button.
The total of the liabilities to be paid is calculated and populated in the Total Payoffs
field.
5
When information is entered in all the tabs, click Submit.
The request is submitted to the selected provider.
Related information
•
For information about the document repository and the Document
Information Preview dialog box, refer to Electronic document
storage, on page 589.
•
Refer to Requesting services, on page 430, for information about
how to request a title report.
•
Refer to Checking pending request status, on page 434, for
information about retrieving pending requests.
Verifications
Verifications are requested to obtain the borrower’s and co-borrower’s employment,
income, banking, rent or mortgage, and tax return information to determine their loan
qualifications.
Point provides a generic request for all requests except income and employment
verifications for employers who use The Work Number. A vendor-specific interface is used
for those requests.
Requesting verifications
Use the generic verification request to request verifications for all requests except for
employers who participate in The Work Number.
To submit a verification request:
1
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Select Services > Verifications > Request Verifications.
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The Request Verifications dialog box is displayed.
2
Select the Verification Services Provider from the dropdown list.
3
To order a new verification, select Order New Verification.
To re-issue an existing verification, select Upgrade Order. The Reference Number
field is populated with the reference number from the previous request. This option is
the default selection when a previous request was made for the borrower.
The Check Status option is the default selection if the request is pending for either the
borrower or co-borrower.
4
Enter any special instructions or comments for the transaction in the Additional
Instructions, Comments field.
5
To pay by credit card, select the Pay by credit card check box, click Enter Credit
Card, and complete the Credit Card Payment dialog box.
6
In the Select Borrower section, select whether the request is for the borrower or coborrower.
7
Select the check boxes for each verification you want to request.
8
For each verification requested, select an option from the corresponding dropdown list
to specify what information you are requesting.
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9
To attach an authorization file:
a
Click Browse to open the Select File dialog box.
b
Select whether you want to send the authorization document from the document
repository or send a file from your computer. Click the Browse button that
corresponds to your selection.
c
If you selected Send from Document Repository, the Document Management
dialog box is displayed.
i
Select the document to include and click the Select button.
ii
Click OK in the Select File dialog box.
The Request Verifications dialog box is displayed. The document is sent
when the request is submitted.
If you selected Select a file on your computer, the Microsoft Windows Choose
file dialog box is displayed.
i
Navigate to the location where the document is stored on your computer and
select the file.
Attention
If the file is not already in PDF format, you can select the file format from
the dropdown list to view the file.
The following file types are supported:
•
•
•
•
ii
pdf
doc, docx
txt
tif, tiff
Click Open.
The document is displayed in the Document Information Preview.
iii Select the category and type and click Add.
iv Click OK in the Select File dialog box.
The Request Verifications dialog box is displayed. The document is sent
when the request is submitted.
10 Click Submit.
11 Enter your login and password and click OK.
The request is processed and the verification information is displayed.
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VOE/VOI reports
Point uses The Work Number to retrieve borrower employment and income information.
The Work Number provides payroll and human resources services, including online
employment and income verification.
If a borrower’s employer uses The Work Number services for employment and income
verification, the borrower’s employment information is stored in The Work Number
database. If the borrower’s employer does not use The Work Number, you are unable to
verify their employment and income through The Work Number.
A salary key is also required to retrieve income information from The Work Number. A
salary key works like a PIN number. A prospect or borrower obtains it from The Work
Number so that other parties can view important privacy-protected data such as income
information.
Requirement
Before using The Work Number to verify a borrower’s income, you must
obtain a salary key from the borrower which authorizes you to access
their information. If the borrower does not have a salary key, they can
create one on The Work Number web site, or call The Work Number at
1-800-367-2884 for more information.
Related information
Refer to Requesting services, on page 430, for information about how
to request an employment or income verification.
Requesting employment and income verifications
To order a verification of employment or income:
1
Select Services > Verifications > Request Verifications.
Tip
In addition to requesting income and employment verifications from the
Services menu, you can also request them from the Verification of
Employment (VOE) screen and page 2 of the Loan Application.
The Request Verifications dialog box is displayed.
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2
Select The Work Number from the Verification Services Provider dropdown list to display
the VOE/VOI Request.
3
To order a new verification, select Order New Verification.
The Check Status option is the default selection if the request is pending for either the
borrower or co-borrower.
To re-issue an existing verification, select Re-Issue. The Reference Number field is
populated with the reference number from the previous request. This option is the
default selection when a previous request was made for the borrower.
4
Select the Copy Employment information to this 1003 check box to populate the
employment information in the loan file.
Tip
You can also populate the Loan Application by clicking the Populate
Emp. button on the Verification of Employment (VOE) screen and
page 2 of the Loan Application.
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5
To pay by credit card, select the Pay by credit card check box, click Enter Credit
Card, and complete the Credit Card Payment dialog box.
6
In the Select Borrower section, select whether the VOE/VOI is for the borrower or coborrower.
7
Enter the Company Code.
8
Select the verification type.
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9
If you request Employment & Income verification, enter the borrower’s salary key.
You must enter this information for a verification of income.
10 If you request Researched Employment or Researched Employment & Income, the
Additional Instructions, Comments field becomes enabled.
Enter any special instructions or comments for the transaction.
The Authorization Method Browse button is also enabled.
a
Click Browse to open the Select File dialog box to locate the authorization
document.
b
Select whether you want to send the authorization document from the document
repository or send a file from your computer. Click the Browse button that
corresponds to your selection.
c
If you selected Send from Document Repository, the Document Management
dialog box is displayed.
i
Select the document to include and click the Select button.
ii
Click OK in the Select File dialog box.
The Request Verifications dialog box is displayed. The document is sent
when the request is submitted.
If you selected Select a file on your computer, the Microsoft Windows Choose
file dialog box is displayed.
i
Navigate to the location where the document is stored on your computer and
select the file.
Attention
If the file is not already in PDF format, you can select the file format from
the dropdown list to view the file.
The following file types are supported:
•
•
•
•
ii
pdf
doc, docx
txt
tif, tiff
Click Open.
The document is displayed in the Document Information Preview.
iii Select the category and type and click Add.
iv Click OK in the Select File dialog box.
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The Request Verifications dialog box is displayed. The document is sent
when the request is submitted.
11 Select the employment status you are requesting from the dropdown list.
12 Click Submit.
13 Enter your Work Number login and password and click OK.
The request is processed and the verification information is displayed.
Populating employment into the Loan Application
You can populate selected data from the employment verification to the Loan
Application.
To populate the Loan Application with the employment information:
1
Open the Populate Employment (1003) dialog box by doing one of the following:
Select Services > VOE/VOI > Populate Employment (1003) or select Services >
VOE/VOI > View Report.
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2
Click View.
3
Select the records received to populate into the Loan Application and click Add or
click Add All to add all records.
4
Click Populate.
Click Don’t Populate to return to the loan file.
Paying for a service by credit card
Some agencies offer the option of paying by credit card when ordering a service. The Pay
by credit card check box is available only when the vendor offers it as an option.
Important
The credit card option is available only if it is configured on the vendor’s
system.
If the option is not enabled, the vendor you selected does not accept
credit card payments.
To pay by credit card:
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Select the Pay by credit card check box.
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2
Click Enter Credit Card to open the Credit Card Payment dialog box.
3
Select either Pay with borrower’s credit card or Pay with my credit card.
4
Complete the Cardholder Billing Information section.
5
In the Credit Card Information section, select the credit card to use for the transaction
from the Type dropdown list.
The credit cards that are accepted by different service providers will vary.
6
Complete the Acct No., and Exp. Date fields. Enter the expiration year in 4-digit format,
for example, 2008.
7
Enter the Card Security Code and click OK.
Attention
The Card Security Code field refers to the three-digit code on the back of
your credit card. This code provides extra identity verification.
Interfaces
Use the Interfaces menu to order products and services from vendors who have
integrated their software to work with Point, making it possible to exchange data without
having to exit the application.
The Fannie Mae and Freddie Mac interfaces enable you to request a variety of online
services. Any information that you enter into the Point screens automatically populates the
Fannie Mae and Freddie Mac screens, so you only need to enter the data once.
FHA TOTAL Scorecard is the integration of LoanScoreCard.com and Point. The Uniform
Collateral Data Portal is used to submit appraisal XML files to Fannie Mae and Freddie
Mac, and the WebCaster option gives you access to the WebCaster Administrator Site.
Installing interfaces and exchanging data
You can access, install, or process data by using the Interfaces menu.
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Interfaces
Depending on the vendor, you can exchange data with vendors in Point either through a
web interface or through software the vendor provides.
The Closing Docs option is used in the following example to illustrate how to connect to a
web-based interface vendor:
Prerequisite
Before you can use a vendor interface, you must contact the vendor to
set up an account.
The vendor will provide you with the information you need to access
their interface.
1
Open a prospect or borrower file.
2
Select Interfaces > Closing Docs.
The Closing Docs Interfaces dialog box is displayed.
3
Select the vendor you want to use and do one of the following:
•
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To open the vendor’s web site click More Information.
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•
To open the Point interface with the vendor, click OK.
4
Click the Launch button to access the vendor’s web site.
5
Follow the instructions provided by the vendor to order services or work with the data.
You can return to Point at any time.
When the vendor returns data, the Loan ID field is populated with their identification
number for the loan.
Note
Depending on the vendor and the service provided, the Loan ID field
shown in the figure might have a different label, such as Casefile ID,
Reference Number, Application, or another variation. When Loan ID is
referenced in this information, it applies to the field on the screen that is
intended for the identification number of the loan, regardless of the
label.
Depending on the vendor configuration, you can clear the loan ID or edit the loan ID. If
the button is not enabled, you cannot remove or edit the loan ID.
The button is dynamic depending on the vendor configuration.
6
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Click Clear or Edit to delete or edit the loan ID.
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When Edit is clicked, the Edit Loan ID dialog box is displayed.
7
Enter the new loan ID in the Loan ID field and click OK.
Attention
Periodic Internet updates occur automatically to update the list of
interfaces that are available in Point.
Data that must be returned to Point is received automatically. Refer to
that vendor’s documentation for more information.
In some instances, a message is displayed that indicates there is an
update from the vendor when you open the file.
Viewing the Interface Transaction history log
To view the information in the Interface Transaction history log:
1
Open a prospect or borrower file.
2
Select Interfaces > Interface Transaction Log.
The Transaction History Log dialog box is displayed. The log contains a list of
transactions and the date and time they occurred.
3
Click OK to close the log.
Related information
To enable and disable interface providers, see Enabling and disabling
providers, on page 427.
Fannie Mae
Use the Fannie Mae interface to interact with Desktop Originator and Desktop Underwriter
through Point.
Prerequisite
Before you can connect to the Fannie Mae interface, you must set up the
Fannie Mae connectivity utility.
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The Desktop Originator and Desktop Underwriter Introduction screens provide links to the
following information:
•
•
•
Fannie Mae registration
Training and support
Other helpful resources
Related information
•
For information about connecting to Fannie Mae, refer to
Connecting to the Fannie Mae web interface, on page 476.
•
For additional information about Fannie Mae, go to the Calyx
Support site and click the Fannie Mae Quicksteps link.
Connecting to the Fannie Mae web interface
Before you can interface with the Fannie Mae web site, you must configure your computer
to enable the connection.
To enable the connection to Fannie Mae:
1
Contact Fannie Mae to create an account and obtain your user ID and password.
2
Select Utilities > Fannie Mae Connectivity.
The Fannie Mae Connectivity dialog box is displayed.
3
Select Desktop Originator or Desktop Underwriter to specify where to connect.
4
Specify general preferences by selecting the corresponding check box.
5
Enter your user ID, password, and institution ID in the corresponding fields.
6
Click OK.
Accessing Fannie Mae
To access the Fannie Mae interface:
1
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Open a prospect or borrower file.
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2
Select Interfaces > Fannie Mae > Desktop Originator, or Interfaces > Fannie Mae
Desktop Underwriter.
To skip the introduction page in the future, select the Skip this introduction page in
the future check box at the bottom of the Originator screen.
Navigating the Fannie Mae screens
Use the three tabs at the top of the Fannie Mae screen to toggle between Point and the
Fannie Mae web site.
The following tabs are available from the Fannie Mae screen:
Desktop Originator or Desktop Underwriter
Launches Fannie Mae’s web site.
Loan Application
Toggles to the Point Loan Application.
Results
Toggles to the Point Fannie Mae results screen.
Use the buttons below the tabs to navigate among the pages.
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Completing and submitting the Fannie Mae Loan Application
The Point Loan Application is the same as the Fannie Mae Loan Application (1003).
Information that was already entered in Point is automatically populated into the Fannie
Mae forms.
To complete and submit the Fannie Mae Loan Application:
1
Open a prospect or borrower file.
2
Select Interfaces > Fannie Mae > Loan App (Page #).
The screens are similar to the Loan Application in Point and information that was
completed in other screens is automatically populated. White fields indicate required
information, gray fields are optional.
3
Populate any other fields as necessary.
4
Click the Desktop Originator tab to connect to the Fannie Mae web site.
The Fannie Mae Login dialog box is displayed.
5
Enter your user ID and password.
After you have logged in for the first time, Point retains your user ID and password for
future access.
Related information
See Chapter 5, Loan Application, for specific information about
completing the Loan Application.
Fannie Mae Addendum
The Fannie Mae Addendum contains fields for information that Fannie Mae requires but
are not on the Loan Application.
You must complete the Fannie Mae Addendum before you submit the loan file for
underwriting.
Caution
A submission error can occur if you do not complete all fields.
To complete the Fannie Mae Addendum:
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1
Open a borrower or prospect file.
2
Select Interfaces > Fannie Mae > Addendum.
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The Fannie Mae Addendum screen is displayed.
3
Complete any empty fields that were not populated from other screens.
Requirement
The Credit Report Identifier (located at the bottom of the screen) is
required for ULDD export.
4
Use the utility on the Loan Application to match real estate to liabilities.
Related information
For more information about matching REOs and liabilities, refer to
Matching liabilities to real estate owned, on page 156.
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Submitting a loan to Fannie Mae for underwriting
Prerequisite
You must complete the Fannie Mae Addendum before you can submit
a loan for underwriting.
To submit a loan to Fannie Mae for underwriting:
1
Select Interfaces > Fannie Mae > Desktop Originator and log in to the Fannie Mae
web site.
Attention
For technical support or questions about Desktop Originator or Desktop
Underwriter, contact Fannie Mae at (877) 722-6757.
The Fannie Mae Submit Loan: Select Credit and Underwriting Options screen
is displayed.
2
Select Credit and Underwriting or Underwriting Only and click Next.
Requirement
Select Underwriting Only only if you have already ordered credit for this
file from Fannie Mae. If you have not yet ordered credit through Fannie
Mae, select Credit and Underwriting.
3
If you specified Credit and Underwriting, specify whether the request is for a new
credit report or to reissue an existing credit report, and click Next.
4
Complete the following:
•
•
•
•
•
Credit Agency
Credit Agency Login
Auto-populate liabilities
Jointly or not jointly (for borrower type)
Reference number (to reissue a credit report)
5
Click Submit.
6
Select a submission option:
•
•
Preliminary Findings
Submit to a Lender, Single or Multiple Product
Depending on the lender, you can either select from a list of products or select multiple
products.
480
7
Select Interim or Final.
8
Click Submit.
9
When the Underwriting Status field on the screen shows Complete, view the findings
by clicking the Underwriting Recommendation link.
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10 If you receive an incomplete report:
a
Click the Edit Loan link.
b
Make changes to the loan, and click Submit.
c
Select the loan options and click Submit.
d
When the Underwriting Status field on the screen is Complete, click the
Underwriting Recommendation link to view the recommendations.
11 To return to the loan file, click the Loan Application or the Results tab.
A download confirmation dialog box is displayed.
12 Click Yes to import the changes into Point. Click No to return to Point without updating
the loan data.
13 To view the findings or credit reports, click the Results tab and select Underwriting.
Related information
Refer to Completing and submitting the Fannie Mae Loan
Application, on page 478, for information about how to log in to the
Fannie Mae web site.
Ordering and viewing a credit report
To order credit through Fannie Mae:
1
Open a prospect or borrower file.
2
Select Interfaces > Fannie Mae > Desktop Originator and log in to the Fannie Mae
web site.
Attention
For technical support or questions about Desktop Originator or Desktop
Underwriter, contact Fannie Mae at (877) 722-6757.
The Fannie Mae Submit Loan: Select Credit and Underwriting Options screen
is displayed.
3
Select the Credit Only option from the dropdown list, and click Next.
4
Select Reissue an existing credit report and associate it with the casefile or
Request a new credit report, and click Next.
5
Complete the following:
•
•
•
•
•
Credit Agency
Credit Agency Login
Auto-populate liabilities
Jointly or not jointly (for borrower type)
Reference number (to reissue a credit report)
6
Click Submit.
7
When the Credit Status field displays Complete, click the Complete link to view the
report.
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8
To view a credit report, click the Results tab and select Credit.
Related information
Refer to Completing and submitting the Fannie Mae Loan
Application, on page 478, for information about how to log in to the
Fannie Mae web site.
Fannie Mae EarlyCheck
The Fannie Mae EarlyCheck service provides data checks to identify and correct potential
eligibility issues at any point in the loan process. EarlyCheck interacts with Fannie Mae
Desktop Underwriter to compare the current loan data to the data that was obtained from
Desktop Underwriter and inform you of problems that have occurred since Desktop
Underwriter was submitted.
Use your existing Fannie Mae Desktop Underwriter credentials to log in to EarlyCheck.
However, before you can run EarlyCheck, you must obtain an EarlyCheck Institution ID
from Fannie Mae.
Each time you request an EarlyCheck report, a snapshot of the results is saved in the
document repository. Select eLoanFile > Document Management to view the results of
an EarlyCheck submission at any time.
Related information
•
For information about the document repository and document
management, refer to Electronic document storage, on page 589.
•
For information about Desktop Underwriter, refer to Fannie Mae, on
page 475.
•
For information about connecting to Fannie Mae EarlyCheck, refer to
Connecting to the Fannie Mae EarlyCheck web interface, on
page 482.
•
To view the EarlyCheck results, refer to Viewing EarlyCheck
results, on page 483.
•
For additional information about Fannie Mae, go to Calyx Support
site and click the Fannie Mae Quicksteps link.
Connecting to the Fannie Mae EarlyCheck web interface
Before you can interface with the Fannie Mae EarlyCheck web site, you must configure
your computer to enable the connection.
To enable the connection to Fannie Mae EarlyCheck:
482
1
Contact Fannie Mae to create an account and obtain your user ID, password, if
needed, and institution ID.
2
Select Utilities > Fannie Mae EarlyCheck Connectivity.
Calyx Software
Interfaces
The Fannie Mae EarlyCheck Connectivity dialog box is displayed.
3
Enter your user ID, password, and institution ID in the corresponding fields.
4
Click OK.
Viewing EarlyCheck results
To view EarlyCheck results:
1
Open a prospect or borrower file.
2
Run Desktop Underwriter.
3
Connect to Fannie Mae EarlyCheck.
Prerequisite
Before you can connect to the Fannie Mae EarlyCheck interface, you
must obtain an institution ID from Fannie Mae.
4
Select Interfaces > Fannie Mae EarlyCheck > EarlyCheck.
The EarlyCheck submission page is displayed. If Desktop Underwriter was previously
run, the DU Casefile ID number is populated in the Existing DU Casefile ID to Compare
field.
5
Click Submit.
The Fannie Mae EarlyCheck Login dialog box is displayed.
6
Click OK.
The EarlyCheck results are displayed.
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The upper portion of the results shows a loan summary.
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The lower portion of the results shows the results comparison between the state of the
loan when Desktop Underwriter was previously run and the current state of the loan.
Note
The comparison snapshot displays only for conventional loans. You can
submit FHA and VA loans to EarlyCheck, however, they do not generate
the comparison snapshot.
Use the Print button at the bottom of the screen to print out the results.
Related information
Point User Guide
•
For information about Desktop Underwriter, refer to Fannie Mae, on
page 475.
•
For information about connecting to Fannie Mae EarlyCheck, refer to
Connecting to the Fannie Mae EarlyCheck web interface, on
page 482.
•
For additional information about Fannie Mae, go to Calyx Support
site and click the Fannie Mae Quicksteps link.
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Integrated products and services
Freddie Mac
Use the Freddie Mac interface to interact with Loan Prospector through Point.
Prerequisite
Before you can connect to Freddie Mac for the first time, you must
contact Freddie Mac to create an account and configure the Freddie Mac
interface in Point.
Related information
For more information about Loan Prospector, go to the Loan Prospector
web site.
Connecting to the Freddie Mac LP web interface
Before you can interface with the Freddie Mac Loan Prospector web site, you must first
configure your computer to enable the connection. You need the following information to
set up your account:
•
•
•
•
•
•
•
Seller Servicer Number
FHA/VA Originator ID
Lender Branch Number
Third Party Originator (TPO) Number
Non-Originating Third Party (NOTP) number
Loan Prospector password
Credit Company
To enable the connection to Freddie Mac:
1
Contact Freddie Mac to create an account and obtain your user ID and password.
2
Select Utilities > Freddie Mac LP Setup or click the Setup button in the Freddie
Mac Loan Prospector screen.
The Freddie Mac Loan Prospector Setup dialog box is displayed.
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3
Complete the dialog box fields with the information that you obtained from Freddie
Mac.
4
Select the credit company to use for your transactions from the Credit Company
dropdown list.
If you select a credit company that has affiliates, the Technical Affiliate dropdown list is
displayed which contains the list of affiliates for the selected company.
5
Select the affiliate from the dropdown list.
6
Click OK to save your settings.
Completing the Freddie Mac Addendum
The Freddie Mac Addendum contains fields for information that Freddie Mac requires that
is not on the Loan Application. Before you can submit the loan to Freddie Mac Loan
Prospector, you must complete the Freddie Mac Addendum.
Tip
If you attempt to submit the loan with missing information, the fields are
marked with a red X and you are prompted to complete them.
To complete the Freddie Mac Addendum:
1
Open a borrower or prospect file.
2
Select Interfaces > Freddie Mac > Addendum or click the Add button at the bottom
of the Freddie Mac Loan Application.
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The Freddie Mac Addendum screen is displayed.
3
Complete the fields that were not automatically populated from other screens.
Requirement
The credit report identifier and credit agency name are required for ULDD
export.
4
Select the Merged Credit for ULDD check box to indicate that you have ordered a
merged credit report.
Do not select the check box if you are exporting the ULDD data to Fannie Mae.
Attention
The Project Classification check boxes on the Freddie Mac Addendum
do not correspond to the Freddie Mac Project Classification check boxes
on the Transmittal Summary. These check boxes are used for data
mapping when information is transmitted to Freddie Mac.
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5
Match the liabilities to the associated real estate owned.
Related information
For more information about matching REOs and liabilities, refer to
Matching liabilities to real estate owned, on page 156.
Completing and submitting the Freddie Mac Loan Application
The Point Loan Application is the same as the Freddie Mac Loan Application (1003).
Information that was already entered in Point is automatically populated into the Freddie
Mac forms.
Prerequisite
Before you can submit the loan to Freddie Mac, you must complete the
Freddie Mac Addendum.
To complete and submit the Freddie Mac Loan Application:
1
Open a prospect or borrower file.
2
Select Interfaces > Freddie Mac > Loan App (Page #).
3
Verify the prepopulated information and complete fields with missing data throughout
the Loan Application.
4
Click the Loan Prospector button or select Interfaces > Freddie Mac > Loan
Prospector to open the Freddie Mac interface screen.
5
Click Send Loan to LP.
The Submit to LP dialog box is displayed.
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6
Select the services you are requesting. The following services are available:
Automated Underwriting Services (AUS)
Use this option to order computerized underwriting services that do not require
processing by hand. This option is always selected by default except when the
Review Credit History check box is selected.
Review Credit History
Use this option to request the borrowers’ credit history before you submit the loan
for an AUS risk assessment. When this option is selected, the Order Merged
Credit option is automatically selected and the Order AUS option is unselected.
If the loan contains multiple borrowers, the credit information for all borrowers is
consolidated into one summary.
Merged Credit
Use this option to request credit results from Experian, TransUnion, and Equifax in
one submission. This option is automatically selected when Review Credit
History is selected.
Borrower and co-borrower sets are automatically combined in the Borrowers/CoBorrowers section when this option is selected.
Reorder
Select this option to reorder credit for the specified borrowers. When this option is
selected, the check boxes in the Borrowers/Co-Borrowers section that
correspond to the borrowers whose credit reports were previously ordered are
enabled. If a co-borrower was added to the loan after the credit is report was
requested and they were not included in the original request, the check box is not
enabled but a credit report is automatically ordered when the request is submitted.
7
If you are reordering credit, select the borrowers and co-borrowers in the Borrowers/
Co-Borrowers section for whom you want to place the order.
8
Enter your Loan Prospector user ID and password and click Submit.
If you are prompted, enter your authentication information.
The Loan Prospector web site is displayed.
Tip
Click any underlined link on the Loan Prospector screen for online
help.
9
Follow the instructions on the screens to order the services you need and to produce
the Feedback Certificate.
Caution
Do not press the <Enter> key on your keyboard to navigate on the
Freddie Mac web site. Pressing Enter closes your session. Use mouse
clicks instead.
10 When the order is complete, click the Send to Your System link in the left navigation
bar to send the results to Point.
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The borrower and co-borrower files are updated with the results.
Related information
•
See Chapter 5, Loan Application, for detailed information about
completing the Loan Application.
•
For investment loans, see Knowledge Base article #0455 Entering
an Investment Loan in Point.
Viewing results
When data is sent to Point, the loan file is updated automatically and the imported screens
are listed in the Loan Prospector screen.
To view the imported screens:
1
Select Interfaces > Freddie Mac > Loan Prospector.
The imported screens are listed in the Feedback section.
2
Double-click the document you want to view or print.
Viewing the Loan Prospector Feedback Certificate
To view the LP Feedback Certificate of a file you submitted to Loan Prospector without
using Point:
1
Select Interfaces > Freddie Mac > Loan Prospector.
2
Click the View LP Feedback button.
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3
Log in to display the LP Get Feedback screen.
4
Complete the required fields and click Find Loans.
Updating Point files from Freddie Mac
To update existing loan files from Freddie Mac:
1
Open a borrower or prospect file.
2
Select Interfaces > Freddie Mac > Loan Prospector.
3
Enter the Loan Prospector ID (the number typically begins with L) in the Loan
Prospector ID field and save the file.
4
In the Feedback section of the Freddie Mac: Loan Prospector screen, click the
View LP Feedback button.
5
When the results are displayed, click Send to your System. Your Point files are
updated as the information is imported.
FHA TOTAL Scorecard
The FHA TOTAL Scorecard menu option is provided to give you easy access to
LoanScoreCard.
To use the Point FHA TOTAL Scorecard interface:
1
Open a borrower or prospect file.
2
Select Interfaces > FHA TOTAL Scorecard.
Requirement
A credit report is required before you can run FHA TOTAL Scorecard.
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The LoanScoreCard web browser is opened.
Options
The LoanScoreCard website is also accessible from the following
locations:
•
Click the Launch LoanScoreCard button on the Automated
Underwriting — FHA TOTAL Scorecard screen (Interfaces >
Automated Underwriting)
•
Run FHA TOTAL Scorecard button on the FHA Transmittal
Summary screen (Forms > Federal Housing Administration
(FHA))
3
Point User Guide
Enter your login credentials on the LoanScoreCard screen and click Log in.
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When finished you will return to the Point Automated Underwriting — FHA TOTAL
Scorecard screen.
LoanScoreCard QM findings
A Qualified Mortgage Reporting Interface (QM) is available to communicate with
LoanScoreCard to evaluate the loan and return a report.
The interface is accessible from the QM button which is located at the bottom of the
workspace on the following screens:
•
•
•
•
•
•
Borrower Information
Fees Worksheet
Good Faith Estimate
Loan Application (pages 1 through 5)
Transmittal Summary
Truth-in-Lending
Generating a QM report
To generate a QM report:
1
Go to a screen that contains the QM button.
2
Click the QM button.
The first time the QM button is clicked in a loan, the Point browser window is displayed
briefly while the report is generated.
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After the QM Findings report is generated it is displayed. The Current Status on the
Point Information Bar is updated with the QM Finding and date and time that the
report was generated.
Scroll down the report to view the QM assessment, points and fees analysis, income
information, loan information, and more.
3
Click the Run QM button to update the data in the report.
4
Click the Print button to print the report.
5
Click Close to return to the Point loan.
Related information
For more information about the report findings, refer to QM report
information, on page 1.
Uniform Collateral Data Portal
The Uniform Collateral Data Portal (UCDP) is used to electronically submit appraisal data
(UAD and non-UAD XML) files to Fannie Mae and Freddie Mac. The following XML files
are supported:
•
•
•
MISMO 2.6 GSE
ACI
AI Ready
The portal is accessible only in borrower files from the Interfaces menu and the shortcut
menu.
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Setting UCDP preferences
To avoid having to enter your data each time you submit an appraisal for a new loan file to
Fannie Mae or Freddie Mac in the Uniform Collateral Data Portal, you can set up your
seller identification and login information in the Point utilities first. By doing this, the
information is permanently stored and is retained for future use.
You need the following information to set up your account:
•
•
•
•
•
Fannie Seller Number
Freddie Seller Number
Business Unit Number
User ID
Password
To enable the setup:
1
Select Utilities > Uniform Collateral Data Portal Setup....
The Uniform Collateral Data Portal dialog box is displayed.
2
Complete the Fannie Seller No. and Freddie Seller No. fields.
Note
The Fannie Seller No. and Freddie Seller No. fields correspond to the
same fields on the Banker > Shipping screen. When data is entered in
these fields, the corresponding fields are automatically populated.
3
Enter the Business Unit #, User ID, and Password in the Direct Integration Login
section.
4
Click OK to save your settings.
These settings are automatically populated in the corresponding fields in the Uniform
Collateral Data Portal screen and UCDP Direct Integration Login dialog box
when appraisals are submitted to Fannie Mae and Freddie Mac through the UCDP.
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Submitting appraisals
To submit an appraisal to Fannie Mae and Freddie Mac through the UCDP, use the
following steps:
1
Open a borrower file.
2
Select Interfaces > Uniform Collateral Data Portal.
3
In the Submit Appraisal section for Appraisal 1, select a Form Type from the dropdown
list.
The following table shows the UAD XML and non-UAD XML supported forms:
Point User Guide
UAD XML
Non-UAD XML
1004/70
1004C/70B
1073/465
1025/72
1075/466
2090
2055/2055
2095
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4
Click the Select button.
Prerequisite
The appraisal XML file that you want to submit to the Government
Sponsored Enterprise (GSE) must have previously been stored in the
document repository before you can access it.
Refer to Adding non-Point documents to the repository, on
page 597, for more information about storing documents in the
document repository.
The Document Management dialog box is displayed.
5
Select the appraisal XML file that you want to send to the GSE and click the Select
button.
The Uniform Collateral Data Portal screen is displayed and the Appraisal 1 field is
populated with the appraisal name. The Select button changes to Remove.
If the document you selected is not a valid XML file, an error message is displayed
and you must select a valid file.
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6
Repeat for up to two additional appraisals, if applicable.
Attention
To delete the appraisal from Appraisal 2 and Appraisal 3, click the
corresponding Remove button and click the OK button in response to
the confirmation prompt.
To remove Appraisal 1 after the submission is completed, you must
replace it with another appraisal. To remove Appraisal 1:
1
2
3
4
7
Click Remove.
Click Yes to confirm that you want to select another appraisal.
Select another appraisal in the document repository and click Select.
Proceed with submitting the appraisal to the investor.
If not already populated, enter the loan number in the Loan Number field.
The loan number is automatically populated from different fields in Point in the
following priority:
•
•
•
Loan Number field on the Transmittal Summary
Lender Loan Number on the Track Agent screen
Lender Case Number on the Loan Application (page 1)
You can change the value at your discretion. A lock box is associated with the Loan
Number field. To change the value, select the check box next to the lock to enable the
field and enter a different loan number.
Important
The loan number must be unique to this loan. Duplicate loan numbers
are not allowed within a business unit.
8
To indicate where you are submitting the appraisals, select the Add to Submission
check box in the Fannie Mae or Freddie Mac section (or both).
9
Complete the Seller No. fields for Fannie Mae and Freddie Mac if you selected the Add
to Submission check boxes for those entities.
Note
If this is a new file and you have completed the Uniform Collateral Data
Portal Setup Utility, the Seller No. fields are automatically populated. The
fields are not automatically populated when working with existing files.
The Institution ID, DU Casefile ID, and LP Key Number fields are automatically
populated after submission if Fannie Mae Desktop Underwriter and Freddie Mac Loan
Prospector were previously run. You can manually update these fields if necessary.
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10 Click Submit.
Attention
•
You can submit additional appraisals to the same investor after the
original submission or submit the appraisals to a new investor at any
time.
•
You cannot remove an investor from the submission (uncheck the
Add to Submission check box) after an appraisal is submitted.
The UCDP Direct Integration Login dialog box is displayed.
11 Enter the Business Unit #, User ID, and Password. Select the Save Password check box
to save the password for future reference and click OK.
Click Cancel to cancel the request.
Note
If you completed the Uniform Collateral Data Portal Setup Utility, the
Login fields are automatically populated.
12 Click OK in response to the UCDP Submission Results dialog box.
13 Click Get Findings and OK in the UCDP Direct Integration Login dialog box.
14 Click OK in response to the UCDP Submission Results dialog box.
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If any hard stops occur, the View Hard Stops dialog box is displayed.
The View Hard Stops dialog box contains the errors that occurred during the
submission of the appraisal.
Some overrides are done automatically and approved during submission. If an
automatic override occurs, the Override Allowed column states Automatic, and the
Override Decision column states, Override automatically approved.
If a manual override is allowed, the first field of the dialog box, Override Allowed, is
populated with Yes. If a manual override is necessary, the Override Status column is
blank.
If an override is not allowed, the Override Allowed field is populated with No.
Attention
When the Override Allowed field is populated with No, you must correct
the problem and re-submit the file or submit another appraisal.
15 Review each message and determine whether a manual override is allowed.
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To manually override a hard stop:
a
Select the error and click Create Override to open the Edit Override dialog box.
b
Select a reason code for the override from the Reason Code dropdown list.
c
If the Reason Code is Other, the Comment field is enabled. Comments are required
when the Reason Code is Other.
d
Click OK.
e
When finished requesting hard stop overrides, click Submit and click OK in the
UCDP Direct Integration Login dialog box and UCDP Submission Results
dialog boxes.
If successful, the Override Status and Override Decision columns are populated
with APPROVED and Override request accepted. Submitter’s delegated authority
accepted, respectively.
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Note
After you create the override, the button changes to Edit Override and
the Remove Override button becomes enabled when the error with the
manual override is selected.
f
Click Close.
The Response field indicates the submission is successful and the Status field states
SUCCESSFUL.
16 When the transmission is successful, the UCDP Get Reports Status Results dialog
box displays a Reports generated successfully message and submission reports for
Fannie Mae, Freddie Mac, or both are created.
Click OK.
The report results section is updated with the current report.
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a
Double-click the report you want to view.
Each appraisal that was submitted is contained in the report.
When subsequent appraisals are submitted, a new report is generated with the
most recent set of appraisals in the submission. Each time a new report is
generated, a copy is stored in the document repository. Each previous copy is
retained in the repository for historical purposes.
b
If the report is not successful, you can click the Get Reports button in the Results
section to view the report or click the View Compliance Errors button to view the
compliance errors.
Compliance errors occur if the data in the appraisal is incomplete or it does not
conform to the standards defined by Fannie Mae and Freddie Mac.
Related information
For more information about the document repository, refer to Electronic
document storage, on page 589.
WebCaster
WebCaster is a subscription-based web site creation program that mortgage professionals
use to promote and conduct mortgage business on the Internet.
If you subscribe to Calyx WebCaster, you can transfer loan information from Point to
WebCaster, prospective borrowers can submit online loan applications, and your clients
can access a detailed loan status report at any time.
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Access WebCaster by selecting Interfaces > WebCaster > Administrator Login.
Related information
•
For more information about WebCaster and setting up an account,
contact Calyx at 1-800-342-2599 or go to the WebCaster
Subscription page to set up an account online.
•
For more information about using WebCaster, visit our WebCaster
page.
Setting WebCaster preferences
Use the WebCaster Preferences dialog box to specify preferences when Point interacts
with WebCaster so you don’t have to enter the information at the time the interaction
occurs. For example, by entering the information here, when Point connects to WebCaster
to import new loan applications, your login information and password is already stored, the
file naming and saving parameters are already specified, and if using a proxy server, the
connection instructions are already saved. WebCaster preferences are configured as part
of the Point utilities.
You can specify the following preferences:
WebCaster administration login information
The WebCaster administrator e-mail address identifies the WebCaster site
administrator. The web site number and web site address identify the WebCaster
borrower site where the loan applications originate. The administrator e-mail and
web site number are required to use the send/retrieve documents and update
status functions. The web site address is required to import loan applications into
Point.
Loan application login
The loan application login is your unique loan application e-mail and password
that is set for you by the WebCaster site administrator on the WebCaster
administration site. Check with your WebCaster site administrator to verify your
loan application e-mail and password. Valid login credentials are required to
import loan applications into Point.
Loan application download instructions
Specify where new loan files are saved, how they are named, and whether they
are saved as prospect or borrower files.
Loan status update
Document send/retrieve
The loan status password is unique to the WebCaster site and is created by the
WebCaster administrator. The loan status password, when combined with the
administrator e-mail and web site number, is used when you submit requests for
document signatures and retrieve the signed documents, retrieve loan status
requests and updates, and when you request loan documents and retrieve them
from borrower accounts in WebCaster.
Loan application notification instructions
Specify whether Point automatically notifies you, by indicating the number of loan
applications available for import on the Online Loan Applications button, when
an application is received and the frequency when Point checks for new loan
applications.
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Loan application connection instructions
Specify the host, port, and credentials to the server if your connection online is
through a proxy server.
To specify your WebCaster preferences:
1
Select Utilities > WebCaster Preferences.
The WebCaster Preferences dialog box is displayed.
2
Complete the WebCaster Administration Login Information section with your
WebCaster administrator registration information:
a
Enter the WebCaster administrator e-mail address.
Note
You can obtain this information from your WebCaster site administrator.
3
b
Enter your WebCaster website number.
c
Enter your WebCaster website URL.
Complete the Loan Application Login section.
a
Enter your WebCaster loan application login e-mail address.
b
Enter your WebCaster loan application password.
Requirements
The Web Site Address, Loan Application E-Mail, and Loan Application
Password fields are required to import loan applications into Point.
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4
Complete the Loan Application Download Instructions section.
a
Select the file folder from the Default Destination Folder dropdown list where the
new loan files are to be stored when the loan applications are imported.
b
Select the file naming method from the Default Naming Option list.
Manual Naming
Specify this option to enter the file name manually at the time the import is
initiated.
Attention
When the Point auto file naming feature is enabled in Point, this option is
disabled and Point’s Auto File Naming is enabled.
Point’s Auto File Naming
When the file is downloaded, the Point Auto File Naming method is invoked
and the file is named per the parameters specified in the Point auto file
naming feature.
Attention
When the Point auto file naming feature is not enabled in Point, this
option is disabled and Manual Naming is enabled.
WebCaster Auto File Naming
When the file is downloaded, the WebCaster Auto File Naming method is
invoked and the file is named per the parameters specified in the WebCaster
auto file naming feature. This option is the default.
c
5
6
Select the default file format, PRS (Prospect) or BRW (Borrower), from the file
type options.
Complete the Loan Status Update/Document Send/Retrieve section.
a
To display the WebCaster options on the Interface menu, select the
corresponding check box.
b
Enter your WebCaster loan status password.
Complete the Loan Application Notification Instructions section.
a
To be informed when new loans are available for import from WebCaster, select
the Notify when application is received at website check box.
Note
The notification is done by displaying a number in parentheses after the
Online Loan Applications button on the Loans tab.
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The Check for loan applications every...minutes dropdown list is enabled.
Attention
If you do not select this check box, you are not automatically notified
when loan applications are available for import.
b
Select the frequency to check for loan applications from the dropdown list. The
options are available in 15 minute increments.
7
To use a proxy server connection rather than connecting directly WebCaster to
retrieve the loan applications, complete the Loan Application Connection Instructions
section. You can obtain the necessary information from your IT department.
8
Click OK.
Related information
•
For more information about the Point auto file naming feature, refer
to Naming files automatically, on page 93.
•
For more information about importing loan applications from
WebCaster, refer to Importing WebCaster loan applications, on
page 510.
Updating loan status
To update the loan status for a borrower:
1
Open a borrower file.
2
Select Interfaces > WebCaster > Update Loan Status.
The WebCaster Loan Status Update dialog box is displayed.
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3
Enter the borrower’s e-mail address in the Borrower Email Address field.
The e-mail address is used as the borrower’s user ID to log into the web site.
4
Enter any text to convey to the borrower upon their login in the Notes to Borrower
field.
5
Complete the Administration Login information.
6
To save your log in information for future access, select the Save Password check
box.
Tip
To prepopulate the Email Address, Web Site #, and Loan Status Password
fields, complete the WebCaster Preferences dialog box (Utilities >
WebCaster Preferences).
7
Select the Resend All Status Fields check box to send an updated status of all fields.
8
Click Update.
When the loan status is updated, information is retrieved from the loan tracking
screen.
If specified, WebCaster can send e-mails to borrowers stating that their loan status
has been updated and is now available. Borrowers can log into your site and view the
status of their loan application.
Related information
For more information about the WebCaster Preferences dialog box, refer
to Setting WebCaster preferences, on page 505.
Viewing loan status
If you have updated a loan status and want to view the details:
1
Update the loan status.
2
Select Interfaces > WebCaster > View Loan Status.
3
Log in to the WebCaster web site.
The updated loan information is displayed.
Related information
For more information about updating loan status, refer to Updating
loan status, on page 508.
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Importing WebCaster loan applications
When a potential borrower completes an online loan application in WebCaster, you can
import it into Point to create a loan file. You can specify the notification and file saving
parameters on the WebCaster Preferences on the Utilities menu.
When the notification parameter is set, the Online Loan Applications button on the Loans
tab in the navigation panel shows the number of loans that are available for import in
parentheses after the button label.
To import a completed loan application into Point from WebCaster:
Prerequisite
Before you can import loan applications from WebCaster, verify with your
WebCaster site administrator that the WebCaster Loan Applications >
Delivery download option is set to Download Loan Applications via
WebCaster Desktop.
1
Select the Loans tab from the navigation panel.
If any completed loans are on WebCaster and ready for import and your WebCaster
Preferences are set to notify you when applications are received, the Online Loans
Applications button will indicate so by a number in parentheses after the button label.
If no applications are ready for import, a number is not on the button.
510
Calyx Software
Interfaces
2
Click the Online Loan Applications button to open the Online Loan Applications
dialog box.
The Online Loan Applications dialog box contains a list of loan applications that are
available for import and an Import to Point section to specify import parameters or
change the WebCaster parameters that were previously specified.
3
Click the check box next to the borrower name to select the loans that you want to
import.
Click the Check All button to select all the loan files in the dialog box. Click the
Uncheck All button to unselect all loans for import.
4
Complete the Import to Point section.
If these setting were specified in the WebCaster Preferences dialog box, they are
the default settings in this section. You can change them as needed.
5
a
Select the data folder from the Destination Folder dropdown list where you want
the loan files to be stored.
b
Select the naming method from the available Naming Options.
c
Select PRS (Prospect) or BRW (Borrower) to specify the File Type.
Click Import.
If the import is successful, a dialog box is displayed that states the name of the new
files and the data folder where they are saved.
If the import fails, a message dialog box is displayed that contains the reasons why
the failure occurred.
6
Point User Guide
Click OK to close the dialog box.
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Integrated products and services
7
Click Close to close the Online Loan Applications dialog box.
Related information
For more information about setting notifications, file saving, and other
import parameters, refer to Setting WebCaster preferences, on
page 505.
Sending documents to borrower WebCaster accounts
You can send documents, disclosures, and forms to borrowers from the document
repository that they can access from their WebCaster accounts.
You can also retrieve documents, track when the document was sent, and when the
borrower viewed the document.
Prerequisites
Before you can send a borrower documents electronically to their
WebCaster account, the following must occur:
•
The borrower must have a WebCaster account.
If one does not exist at the time of transmission, an account is
created dynamically. Valid entries are required in the SSN and E-Mail
fields on the Borrower Information screen.
•
Borrowers must agree to the eDisclosure Consent on the WebCaster
site before they can access or view their loan documents.
•
The E-Mail field on the Borrower Information screen in Point
must contain a valid e-mail address for the borrower.
•
The document must be stored in the document repository.
To send a document to borrowers from the document repository:
1
512
Open the borrower or prospect file to whom you want to send the document.
Calyx Software
Interfaces
2
Select eLoanFile > Document Management to access the Document
Management dialog box.
3
Select the documents to send to the borrower.
Restriction
You can select a maximum of ten documents to send to the borrower at
one time.
4
Click Send/Retrieve....
Attention
If a document is not selected when you click Send/Retrieve... and your
WebCaster Administration Login Information is already stored in the
Send/Retrieve dialog box, Point connects directly to WebCaster to
check for uploads and documents that were viewed by the borrower and
updates the document repository accordingly.
If your WebCaster Administration Login Information is not stored or is
incomplete in the Send/Retrieve dialog box, the dialog box is
displayed but the Document Description and the Notes to Borrower
sections are disabled because a document was not selected. You can
proceed to enter your login information and click Send/Retrieve to
initiate the connection to WebCaster to check for uploads and viewed
documents.
Point User Guide
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Integrated products and services
Option
You can also send a single document from the Document Information
Preview. Rather than select multiple documents from the document
repository, open (double-click) a single document from the document
repository and click Send/Retrieve... in the Document Information
Preview. Proceed with the following steps.
The system checks whether the eDisclosure consent status has changed. If the status
is No, an error message is displayed. Although the documents are sent to WebCaster
anyway, the borrower must consent to the eDisclosure in their WebCaster account
profile before they can receive electronic documents.
If the status is Yes or Unknown, the Send/Retrieve dialog box is displayed.
Note
When the status of an account is Unknown, the borrower has a
WebCaster account but has not connected to WebCaster for this
particular loan.
The borrower’s e-mail address is automatically populated and the selected documents
are listed in the Document Description field.
Attention
The E-mail Address field is disabled in this dialog box. To change the email address, you must navigate to the Borrower Information screen
and change the E-mail Address field from there.
5
514
If the document must be returned by the borrower by a specific date, place the cursor
in the Due Date field to enable the calendar or enter a date manually.
Calyx Software
Interfaces
6
If the borrower signature is required, select the Signature Required check box.
When the Signature Required check box is selected for any documents, for tracking
purposes, the following information is recorded for those documents in the Document
Requests section in the Track: Status and Checklist screen:
•
•
•
•
•
•
Document category
Document type
Document description
Signature required
Due date
Current date entered in the Requested date field and the check box selected
Important
The Document Requests section on the Track: Status and Checklist
screen can hold a maximum of 38 records. If you attempt to send more
documents than the table can accommodate, an error message is
displayed that suggests the following two options:
7
•
Uncheck the Signature Required check box and proceed to send the
documents without requiring a signature.
•
Go to the Track: Status and Checklist screen and remove any old
or superfluous documents to allow space for the documents you are
currently trying to send to the borrower.
Enter instructions or comments for the borrower in the Notes to Borrower field.
Note
These comments are also added to the Conversation Log in the Point
borrower file.
8
Complete the WebCaster Administration Login Information section, Email Address,
Web Site #, Loan Status Password, and select the Save Password check box to save
your login information for future reference.
9
Click the Send/Retrieve... button.
If any of the selected documents were previously sent to the borrower, a message is
displayed giving you the option to overwrite them and send the documents anyway or
cancel the transmission. Click OK to proceed, click Cancel to stop the process.
The date and time is entered in the Sent To Borrower field in the Document Detail
section.
Documents that are pending upload from the borrower are retrieved and copied as
new documents into the document repository. If the document was recorded in
Document Requests, the table is updated with the date the document was collected.
In addition, if a borrower has viewed a document that was previously sent, the Viewed
By Borrower field in the Document Detail section is populated with the date and time
the document was viewed.
When the transaction is complete, a status dialog box is displayed that includes the
document descriptions, the action taken for each document, and whether the
transmission successful.
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Integrated products and services
In addition, the Conversation Log is updated with an entry that includes that the
document was sent to WebCaster and whether a signature was required.
Attention
If you are a PointCentral user and your PointCentral administrator has
granted you access to the Audit Trail, documents that are sent to and
retrieved from WebCaster are recorded in your Audit Trail log.
.
Related information
•
For more information about the document repository and document
management, refer to Electronic document storage, on page 589.
•
For more information about the Track: Status and Checklist
screen and Document Requests, refer to Tracking documents
requested from borrowers, on page 530.
•
For more information about the Audit Trail log, refer to Audit trail,
on page 563.
•
For more information about the Conversation Log, refer to
Documenting client discussions, on page 700.
Sending document signature packages to borrowers
If your WebCaster configuration includes Ink-It™, an electronic signature tool that
integrates with WebCaster and Point, you can send document packages to borrowers to
obtain electronic signatures. A third-party vendor receives the document package, sends
an email with a link to the borrower to notify them that they have documents to sign, and
authenticates the borrower when they access the documents.
Prerequisites
Before you can send a borrower a document package for electronic
signature, the following must occur:
•
You must save the loan file.
•
The E-Mail field on the Borrower Information screen in Point
must contain a valid e-mail address for the borrower and coborrower, if any.
•
Valid entries are required in the First name, Last name, SSN, DOB
and E-Mail fields before a borrower is eligible to sign electronically.
To send a document package to borrowers for electronic signature:
1
Open the borrower file to whom you want to send the document package.
2
Access the Borrower Forms dialog box.
•
•
516
Select File > Print or File > Print Preview.
Click the Print icon on the toolbar.
Calyx Software
Interfaces
3
Select the documents to include in the package.
Restriction
Only forms in the Forms and FHA/VA tabs are available for electronic
signature.
You must select at least one form that requires a signature. If you do not
select any forms that require a signature, an error will occur upon
transmission.
4
Select INK-it from the Output Option dropdown list.
The label on the Print button changes to INK-it. If you selected any forms that are not
supported, such as custom forms, they are removed from the Forms Selected section.
5
Point User Guide
Click INK-it.
517
Integrated products and services
The INK-it dialog box is displayed.
The borrower and sender information is populated from the data in the loan file.
The WebCaster Administration Login Information section is completed if this
information is completed in the WebCaster Preferences dialog box.
The Sender’s Information section is stored for future reference after the initial request
is completed.
6
Enter a name in the Document Package Name field.
7
Select a date to specify the date the signed documents are due back.
The default setting is 30 days from the current date. This is also the date that the
package expires.
Important
If the package expires before the borrower returns the documents with
their signature, the link in their email becomes deactivated and you must
send the package again.
8
If not already populated, complete the WebCaster Administration Login Information
and Sender’s Information sections.
9
Click Send/Retrieve.
The Document Transaction Status dialog box is displayed with the status of the
transmittal.
10 Click OK to close the dialog box.
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Interfaces
The selected documents are stored in the document repository and the transmission
is recorded in the INK-it Document Request section on the Track: Status and
Checklist screen.
An email is sent to the borrowers on the loan to inform them they have documents
pending their signature. They are required to enter their birth date and the last four
digits of their social security number to access the documents. After the documents
are signed, borrowers click a button in the document signing interface to return them
to the requester.
Related information
•
For information about specify WebCaster preferences, refer to
Setting WebCaster preferences, on page 505.
•
For information about retrieving signed documents, refer to
Retrieving signed documents from borrowers, on page 519.
Retrieving signed documents from borrowers
After borrowers sign and return the documents in the document package, an email is sent
informing you that you have signed documents to retrieve. The borrowers are also sent an
email with a set of the signed documents.
To retrieve signed documents:
1
Open the borrower file from whom you are receiving the signed documents.
2
Go to the Track: Status and Checklist (Track > Status) screen and scroll to the
INK-it Document Request section.
3
Click Send/Retrieve.
Use the Edit button to change the tracking information for the selected document
package.
Use the Delete button to remove one or more selected items from the list.
Use the Send Reminder Email button to send a reminder to the borrowers they have
pending documents to sign for the selected package.
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Integrated products and services
The Document Information Preview screen is displayed.
4
Update the document details as needed and click Add to place the document in the
document repository.
The next document in the document package is displayed.
5
Click Add for each subsequent document to store it in the document repository.
After the last document is displayed, the eSignLive Electronic Evidence Summary
document is displayed.
This document is important because it records the signing history and serves as the
audit trail for the document package.
6
Click Add to store it in the document repository.
7
Click OK to close the Document Transaction Status dialog box.
Related information
520
•
For more information about the Track > Status screen, refer to
Tracking loan status and progress, on page 526.
•
For more information about the document repository, refer to
Electronic document storage, on page 589.
Calyx Software
Verifications
10
Point contains forms that are used to request verifications for employment, bank account
information, loans, and benefits, such as a retirement income or pension.
The following verification forms are available in Point:
•
•
•
•
•
Verification of Benefits (VOB)
Verification of Deposit (VOD)
Verification of Employment (VOE)
Verification of Loan (VOL)
Verification of Mortgage/Rent (VOM/R)
After you complete the verification forms, send them to the applicable creditors or
institutions for verification. Populate the form by importing the information from the Loan
Application before you send it for verification or wait until the information is verified and
enter it manually. After the verification form is completed, export the information from the
verification to the Loan Application.
Attention
The Verification of Benefits (VOB) form does not contain a From
Loan App button.
Therefore, you cannot import benefit information from the Loan
Application into the Verification of Benefits and you cannot import
benefit information from the Verification of Benefits into the Loan
Application.
In this topic
• Completing verification forms
Completing verification forms
Each verification form uses a similar interface and the same process applies for
completing them. How to complete a Verification of Deposit verification form is used in
this example. Verification forms are accessible from the Verifs menu.
To complete a verification form:
1
Open a borrower file.
2
Select the verification form that you want to use from the Verifs menu.
521
Verifications
The following screen is an example of a completed Verification of Deposit (VOD)
form.
The top of the form contains the From Loan App button. Click this button to import the
information from the section in the Loan Application that corresponds to the
verification form. With the exception of the Verification of Benefits (VOB) form, all
verification forms include a From Loan App button to import the applicable data from
the Loan Application.
Caution
Entering data by importing it from the Loan Application replaces all
existing information in the verification form.
To prevent loss of data, import information by using the From Loan App
button before you enter any information manually.
In addition to the From Loan App button, the Verification of Employment (VOE)
screen also contains buttons to request an employment verification (Request VOE/
VOI), view the employment verification report (View Report), and populate the
employment information from the verification report (Populate Employment).
The From section contains fields for the name of the person who is requesting the
verification (Attention field), their title, the lender number, and the current date. When
the Attention field is selected, it is automatically populated with the name of the loan
processor that was entered in the Borrower Information screen. When the Date
field is selected, it is automatically populated with the current date.
3
522
If the information is not prepopulated, enter the Title and Lender No in the From
section.
Calyx Software
Completing verification forms
4
To import information from the Loan Application, click the From Loan App (Assets)
button.
To enter information manually, click New and complete the To and Information to be
Verified sections.
Use the Insert button to add a new entry before the selected entry. Use the Delete
button to remove an entry. Use the arrow buttons to navigate between entries.
Note
Each verification list can contain a maximum of ten records.
Click the Show All button to open the List of Items dialog box. This dialog box
contains a complete list of items that are entered in the verification screen. For
example, a list of the institutions where the borrower’s accounts are held and the total
amount deposited at each one is provided on the Verification of Deposit list.
5
6
Select the Print ‘SEE ATTACHMENT’ in the signature box check box to indicate that
you are attaching a borrower signature authorization form to the verification.
If you are completing an employment verification by telephone, select the Telephone
VOE check box.
The I certify the following section becomes enabled. Respond to the questions to
document the conversation you had with the employer.
7
Submit the verification forms by e-mail or print and send them by fax or regular mail.
After the form is sent or printed, an entry is automatically created in the corresponding
verification tracking screen.
Related information
Point User Guide
•
For information about printing and e-mailing verification forms, refer
to Print and e-mail options, on page 123.
•
Refer to Chapter 9, Integrated products and services, for more
information about using the Request VOE/VOI, View Report, and
Populate Employment buttons.
523
Loan tracking
11
Use the tracking screens to monitor the status of your loans by tracking the required
documents, including:
•
•
•
Verification requests
Payments received
Dates relating to any tasks
Point creates a tracking file whenever a prospect or borrower file is created. The
information entered into the forms populates the tracking screens.
Requirement
You must enter date information in all tracking fields to determine the
status of ordered documents.
Print all of the reports, except the verification reports, from the Tracking tab in the
Borrower Forms dialog box. To print verification reports, select the Verifs tab in the
Borrower Forms dialog box.
Access the tracking features from the Track menu.
In this topic
•
•
•
•
•
•
•
•
•
•
•
Loan status tracking
Tracking conditions
Locking rates and registering loans
Tracking verifications
Tracking title conditions
Tracking HMDA reporting information
Tracking RegulatorConnect data
Tracking contacts and agencies
Tracking loan team members
Tracking trust account information
Tracking loan profit or loss
Related information
For more information about printing, see Print and e-mail options, on
page 123.
525
Loan tracking
Loan status tracking
The Status and Checklist screen summarizes the loan status and progress. In this
screen you can collect event dates, critical file information, lender selection and contacts,
lock status, and the current status for reports.
Tip
To ensure that your reports are accurate, verify that the date and time
settings on your computer are correct before you begin.
Use empty fields to record custom information that is not predefined.
The Status and Checklist includes the following information:
•
•
•
•
Loan status
Loan progress
Third party documents
Document requests
Use the Status and Checklist screen to track various loan information and to report that
a loan is closed, submitted, or approved.
Navigate in the Status and Checklist screen by using the scroll bars that are located in
each screen and each section.
Edit the information in the Status and Checklist screen by using the Edit Selection
button or by double-clicking a row.
To enter the current date for a particular item, select the check box that corresponds to the
item that you are updating.
Tracking loan status and progress
To track the status and progress of a loan:
Note
The Status and Checklist screen supplies synchronized data to the
information bar. When this information is accurate, the information bar
becomes a one-click, time-saving resource.
526
1
Open a prospect or borrower file.
2
Select Track > Status.
Calyx Software
Loan status tracking
The Status and Checklist screen is displayed.
The Loan Status section summarizes the current loan status and the status date.
When you select a check box, the current date is automatically populated into the
Date field.
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Loan tracking
The Loan Progress section, located below the Loan Status section, tracks the loan
progress and indicates the dates that various loan paperwork was submitted and
received. The date that the file was started is automatically populated in the Prospect
field. When the file becomes an application, mark the date in the Application field.
3
Double-click an event or click Edit to open the Loan Progress dialog box and edit the
date or enter comments. To add a user-defined status, select a blank field.
The status field is disabled if a predefined status is selected.
Related information
•
For more information about the information bar, see Information
bar, on page 9.
•
For more information about entering data from Cardex, see
Transferring database entries into a loan file, on page 750.
Tracking third party documents
To track third party documents in a loan:
528
1
Open a prospect or borrower file.
2
Open the Status and Checklist screen.
3
Scroll to the Third Party Documents section.
Calyx Software
Loan status tracking
4
Edit an item:
a
Double-click an item or click Edit to open the Third Party Documents dialog
box. To add a user-defined document, select a blank field.
The Document field is disabled if a predefined document is selected.
b
If the document is required for the loan or to add the item to the loan checklist,
select the Required check box.
The document is automatically added to the loan checklist when the Required
check box is selected.
Uncheck the check box to remove a document from the loan checklist. You can
also select and unselect this check box in the Third Party Documents list.
c
Enter a due date for the document.
d
Enter an ordered date and a received date.
Select the check box next to a date field to automatically populate the
corresponding field with the current date. You can also enter a date manually or
by clicking the Calendar button and selecting a date.
You can also select and unselect these check boxes in the Third Party
Documents list; however, you cannot edit the date field.
5
e
If this is a user-defined document, enter a document name in the Document field.
f
Enter any comments in the Comments field.
g
To calculate the due date for an item based on when a certain event occurs during
the loan process, select the Calculate Due Date Based On check box and select
an option from the dropdown list. In the +/- days field, specify the number of days
before or after the event that the due date is to occur.
To add items to the loan checklist, select one or more items and click the Add to
Checklist button.
Selected items that are already on the loan checklist are ignored.
In addition to adding the item to the checklist, when the Add to Checklist button is
clicked, the Req’d check box is automatically selected.
6
Point User Guide
To remove items from the loan checklist, select one or more items and click the
Remove from Checklist button.
529
Loan tracking
Selected items that are not already on the loan checklist are ignored.
Related information
For information about the loan checklist, refer to Loan checklist, on
page 10.
Document requests
The Document Requests section is a list of various items that you require from the
borrower to process the loan, such as copies of tax returns and bank statements.
From this screen you can request documents from the borrower, track documents you
requested from the borrower, track documents that are pending borrower signatures, and
edit the information pertaining to items on the list. You can also record the date you
requested the documents, the date they are due, the date you receive them, and
document any comments you made to the borrower in the Conversation Log.
You can use the following methods to add records to the Document Requests section:
•
Send a document electronically to the borrower to their WebCaster account from
the document repository and require a signature
•
Add a loan condition to the Banker > Conditions screen and select the Show in
Track > Conditions screen check box in the Edit Condition dialog box (you must
also specify a Document Category and Document Type)
Important
If you edit a previously saved loan condition, selecting the Show in Track
> Conditions screen check box does not record the loan condition in the
Document Requests table. You must select the check box at the time of
creation for it to be saved in the Document Requests table.
•
Add a document manually to the Document Requests list
Tracking documents requested from borrowers
To track the documents requested from borrowers in a loan:
530
1
Open a prospect or borrower file.
2
Open the Track > Status screen.
3
Scroll to the Document Requests section.
Calyx Software
Loan status tracking
The icon in the left column indicates that the document was requested or received
through a WebCaster transaction.
Tip
Use the Insert button to add a blank item above the selected item.
To delete an item that you do not need or do not want to include, select
the item and click the Delete button.
4
Edit or add an item:
Note
The Document Requests list can contain a maximum of 38 records.
a
Double-click an item or select an item and click Edit to open the Edit Document
Requests dialog box.
Tip
You can also access the Edit Document Requests dialog box from any
screen by selecting an item from the loan checklist and clicking the Open
Detail button.
Point User Guide
531
Loan tracking
Notes
b
•
When the document request is created from a Condition, the
Document Category and Document Type are read-only and the
Document Description is editable.
•
When the document request is created in the Document Requests
section in the Track: Status and Checklist screen, the Document
Category, Document Type, and Document Description are editable.
•
When a document request is created by requiring a signature on a
document being transmitted to a borrower’s WebCaster account, the
Document Category, Document Type, and Document Description are
read-only.
If the item is required for the loan or to add the item to the loan checklist, select
the Required check box. The item is added to the loan checklist.
Unselect a check box to remove a document from the loan checklist.You can also
select and unselect this check box in the Document Requests list.
c
532
Select the document category from the Category dropdown list.
Calyx Software
Loan status tracking
d
Select the MISMO document type from the Type dropdown list.
Note
Default category and type lists are provided. You can add and change the
lists from the Utilities > Company Defaults > Document Categories/
Types menu option.
e
Enter a due date for the item.
f
When each event occurs, enter the requested date, the re-requested date (if
applicable), and the collected date.
Select the check box next to a date field to automatically populate the
corresponding field with the current date. You can also select and unselect these
check boxes in the Document Requests list; however, you can edit only the date
field in the Edit Document Requests dialog box.
g
To calculate the due date for an item based on when a certain event occurs during
the loan process, select the Calculate Due Date Based On check box and select
an option from the dropdown list. In the +/- days field, specify the number of days
before or after the event that the due date is to occur.
h
To send the document request to the borrower, click the Send/Retrieve button.
The Send/Retrieve dialog box is displayed.
i
Point User Guide
Place the cursor in the Due Date field to enable the calendar or enter a date
manually.
533
Loan tracking
ii
Enter instructions or comments for the borrower in the Notes to Borrower
field.
Note
These comments are also added to the Conversation Log in the Point
borrower file.
iii Complete the WebCaster Administration Login Information section, Email
Address, Web Site #, Loan Status Password, and select the Save Password
check box to save your login information for future reference.
iv Click the Send/Retrieve button.
The requested documents are sent to the borrower’s WebCaster account for
retrieval.
Documents that are pending upload from the borrower are retrieved and
stored in the document repository. If the document was recorded in Document
Requests, the table is updated with the date the document was collected. In
addition, if a borrower has viewed a document, the Viewed By Borrower field
in the Document Detail section in the document repository is populated with
the date and time the document was viewed.
When the transaction is complete, a status dialog box is displayed that
includes the document descriptions, the action taken for each document, and
whether the transmission successful.
i
Click OK to return to the Track: Status and Checklist screen.
5
Select a check box in the Required column to add an item to the loan checklist.
Unselect a check box to remove an item from the loan checklist.
6
Use the Insert button to add a single row or item to the list.
7
Use the Delete button to remove one or more selected rows and items from the list.
8
To add items to the loan checklist, select one or more items and click the Add to
Checklist button.
Selected items that are already on the loan checklist are ignored.
In addition to adding the item to the checklist, when the Add to Checklist button is
clicked, the Req’d check box is automatically selected.
9
To remove items from the loan checklist, select one or more items and click the
Remove from Checklist button.
Selected items that are not already on the loan checklist are ignored.
Attention
If you are a PointCentral user and your PointCentral administrator has
granted you access to the Audit Trail, document request and collection
histories are recorded in your Audit Trail log.
534
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Loan status tracking
Related information
•
For more information about default categories and types, refer to
Creating document categories and types, on page 58.
•
For more information about banker conditions, refer to Recording
and tracking loan conditions, on page 304.
•
For more information about sending documents to borrowers, refer
to Sending documents to borrower WebCaster accounts, on
page 512.
•
For more information about the Audit Trail log, refer to Audit trail,
on page 563.
•
For more information about the Conversation Log, refer to
Documenting client discussions, on page 700.
Sending document requests to borrowers
To send a request for a document to a borrower that they can receive through their
WebCaster account:
1
Open a prospect or borrower file.
2
Open the Track > Status screen.
3
Scroll to the Document Requests section.
4
Select the documents to request from the borrower.
5
Click the Send/Retrieve... button.
Attention
If a document is not selected when you click Send/Retrieve... and your
WebCaster Administration Login Information is already stored in the
Send/Retrieve dialog box. Point connects directly to WebCaster to
check for uploads and documents that were viewed by the borrower and
updates the Document Requests list and document repository
accordingly.
If your WebCaster Administration Login Information is not stored or is
incomplete in the Send/Retrieve dialog box, the dialog box is
displayed but the Document Description and the Notes to Borrower
sections are disabled. You can proceed to enter your login information
and click Send/Retrieve to initiate the connection to WebCaster to
check for uploads and viewed documents.
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The Send/Retrieve dialog box is displayed.
6
If the borrower must return the document by a specific date, place the cursor in the
Due Date field to enable the calendar or enter a date manually.
7
Enter instructions or comments for the borrower in the Notes to Borrower field.
Note
These comments are also added to the Conversation Log in the Point
borrower file.
8
Complete the WebCaster Administration Login Information section, Email Address,
Web Site #, Loan Status Password, and select the Save Password check box to save
your login information for future reference.
9
Click the Send/Retrieve button.
The selected documents are sent to the borrower’s WebCaster account for retrieval.
Requested documents that are pending upload from the borrower are retrieved and
stored in the document repository. If the document was recorded in Document
Requests, the table is updated with the date the document was collected. In addition, if
a borrower has viewed a document, the Viewed By Borrower field in the Document
Detail section in the document repository is populated with the date and time the
document was viewed.
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When the transaction is complete, a status dialog box is displayed that includes the
document descriptions, the action taken for each document, and whether the
transmission was successful.
Related information
•
For more information about sending documents to borrowers, refer
to Sending documents to borrower WebCaster accounts, on
page 512.
•
For more information about the Conversation Log, refer to
Documenting client discussions, on page 700.
Tracking conditions
The Conditions screen itemizes the various conditions of the loan. The fields are
populated with conditions from the Banker > Conditions screen which are identified by
selecting the Show in Track > Conditions Screen check box when the condition is
added. It is primarily used for loan processing and underwriting conditions for which the
originator and processor are responsible.
Attention
Conditions tracking is not available in prospect files.
To access the Conditions screen:
1
Open a borrower file.
2
Select Track > Conditions.
The Conditions screen is displayed.
The conditions list is automatically populated when the Show in Track > Conditions
Screen check box is selected on the Banker > Conditions screen.
Related information
For more information about conditions, refer to Creating the default
conditions list, on page 46 and Recording and tracking loan
conditions, on page 304.
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Editing conditions
To edit a condition:
1
Select the condition to edit.
2
Click the Edit button.
The Edit Condition dialog box is displayed.
3
To indicate that the condition was collected or submitted, click the calendar icon next
to each field and select a date.
The Collected By and Submitted By fields are populated with the name of the person
who is logged in at the time the corresponding date is entered.
Tip
Click the check box in the table next to Collected and Submitted and the
current date and logged in user are automatically populated in their
respective fields.
4
Click Save & Close.
Locking rates and registering loans
The Registration & Rate Lock screen provides a resource for both bankers and
brokers; loan originators can use this screen to lock their loans with either a wholesale
lender or their own secondary marketing department.
Attention
The Registration & Rate Lock screen is not available in prospect files.
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The originator will typically use this screen three times:
•
•
•
When negotiating the primary market rate and price with the borrower.
When registering and locking the loan with either a wholesale lender or their
secondary marketing department
To record the confirmation of the lock request from either the wholesale lender or
the secondary marketing department.
Restriction
This option is available only to users who have access to financial
information. Access to financial information is specified for Point users in
Point Administrator. PointCentral users are granted read, write, or no
access to select Tracking screens as part of the data folder security
settings.
If you are not granted access to financial information, this menu option is
disabled.
To complete the Registration & Rate Lock screen:
1
Open a borrower file.
2
Select Track > Registration & Rate Lock.
The Registration & Rate Lock screen is displayed.
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Most of the general loan, borrower, and property fields are populated from information
that was entered in the Borrower Information screen. Underwriting information is
populated when the Underwriting screen is completed. The Credit Scores section is
automatically populated when credit is requested through the Point Services interface.
The Borrower Type section is populated from the Declarations section in the Loan
Application.
3
Select the business channel from the Business Channel dropdown list.
4
Select the type of property from the Property Type dropdown list in the Subject
Property section.
The subject property address is automatically populated from information that was
entered in the Borrower Information screen.
If you select one of the condominium property type options, specify the number of
stories in the dwelling. If the condominium complex is on the Fannie Mae approved
list, select the Warrantable Condo check box.
5
Complete the General Information section.
a
If the loan is for a home equity line, enter the initial draw amount in the Initial
HELOC Draw field.
b
Complete the Lender Name field.
•
540
If you are requesting a lock from a wholesale lender, enter the wholesale
lender’s name.
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Locking rates and registering loans
•
If you are requesting a lock from your own secondary marketing department,
enter your company name, or use the Cardex database to populate these
fields.
c
Select the documentation type from the Doc Type dropdown list.
d
Enter the Credit Grade.
e
Complete the Debt-to-Income Ratios section.
When locking a loan, many loan programs require that the top/bottom ratios and
the LTV/CLTV not exceed a maximum amount. Enter the maximum levels that are
allowed on the rate sheet to ensure that the loan parameters meet the rate lock
requirements.
Tip
You can display the Ratios dialog box for the current loan file at any
time by selecting Utilities > Display Ratios, by clicking the Ratios icon
on the toolbar, or by typing <Ctrl> + <T>.
The Ratios dialog box contains the top, bottom, LTV, and CLTV ratios.
The Combined fields are automatically populated with the combined debt-toincome ratios of the borrower and co-borrowers when there are co-borrowers on
the loan.
f
6
Complete any remaining empty fields.
Complete the ARM Information section.
The information in this section is also on the Truth-in-Lending screen in the Rate
Adjustments section.
a
Enter the margin in the Margin field.
This rate remains constant throughout the life of the loan.
Point User Guide
b
Enter the publicly published number that is used to alter the adjustable loan rate in
the Index Value field, if applicable.
c
Select the index type from the dropdown list, or enter it manually.
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7
Complete the Mortgage Insurance section.
The Upfront MIP, FF fields are populated with the values in the corresponding fields in
the PMI/MIP/FF/USDA dialog box.
8
Complete the Registration and Lock Request section.
The Registration Date field is automatically populated with the current date when the
Register check box in the Request Type section is selected.
Note
The Lock Date/Time, Lock Term, Lock Extension, and Interest Rate fields
and the Pricing From Rate Sheet and Interest Rate from Rate Sheet
sections are disabled if the Lock check box is selected.
542
a
Enter the date and time of the lock request in the Lock Date/Time fields.
b
Enter the term of the lock, in days, in the Lock Term field.
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Locking rates and registering loans
The Lock Exp Date field is calculated by Point based on lock term value.
c
Enter the number of days that the lock is extended in the Lock Extension field.
d
Select the type, Best Efforts or Mandatory, from the Lock Type dropdown list.
e
If not prepopulated, complete the Interest Rate field.
f
Select the 1st Time Home Buyer check box if any borrower of the loan is a first
time buyer.
g
Select the Escrows waived check box if the lender is allowing the borrower to pay
certain escrow items directly to the payees.
h
Select the Prepayment Penalty check box if the selected loan program has a
prepayment penalty.
Enter the number of years the prepayment penalty is in effect and select the
Prepay Type from the dropdown list.
i
Complete the Interest Rate from Rate Sheet section.
Tip
Price adjustments are calculated as positive values. Therefore, to enter a
negative amount, precede it with a minus sign (-) to deduct the amount
from the total.
i
Enter the base rate from the rate sheet in the Base Rate field.
ii
Select up to two additional rate adjustments from the dropdown lists.
iii Enter the adjustment percent in the % field.
Point calculates the Net Adjusted Rate field based on the rate adjustments
entered.
j
Complete the Pricing from Rate Sheet section.
Attention
If you use the product and pricing interface to obtain pricing and
populate the Pricing from Rate Sheet and the Interest Rate from Rate
Sheet sections, the values are disabled and cannot be edited. To remove
the pricing, click the Clear Pricing Engine Results button below the
Prepay Type dropdown list.
If the pricing engine was cleared or if the Pricing from Rate Sheet and
the Interest Rate from Rate Sheet sections were populated manually,
the Clear Pricing Engine Results button is not visible.
Note
The rate sheet is provided by the secondary marketing department if the
loan is funded internally or by the wholesale lender if the loan is to be
brokered.
Point User Guide
i
Enter the base price from the rate sheet in the Base Price field.
ii
Select additional loan price adjustments from the dropdown lists.
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Loan tracking
iii Enter the adjustment percent in the % field.
Tip
Price adjustments are calculated as positive values. Therefore, to enter a
negative amount, precede it with a minus sign (-) to deduct the amount
from the total.
Point calculates the Net Adjusted Lock Price field based on the price
adjustments entered.
iv Select the Pricing based on Loan Amount w/MIP,FF check box to
calculate the Net Adjust Lock Price based on the total loan amount rather than
the base loan amount.
k
Complete the Request Type section.
i
To register the loan, select the Register check box to enable the Create
Registration Request button.
The Registration Date field is automatically populated with the current date.
ii
Click the Create Registration Request button.
The Registration Request is generated and is displayed on the screen.
iii Enter a file name if the File Name field is not pre-populated.
Requirement
A file name is required when the E-mail as PDF File or Save as PDF File
option is selected. The OK button is disabled if the File Name field is
blank. Enter a file name to enable the button.
iv Select one of the following options from the Output Option dropdown list and
click OK.
•
E-mail as PDF File
The document is added to the document repository and the Set PDF
Password dialog box is displayed.
To password protect the document before sending, select Protect with
Password and enter the password in the Password field. Otherwise,
select Do Not Protect with Password.
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An e-mail window from your default e-mail application opens with the form
attached as a PDF document.
Complete your e-mail and send it as you normally would.
•
Print
The document is added to the document repository and the Print
Document dialog box is displayed. Click OK to proceed with printing.
•
Save as PDF File
The document is added to the document repository and the Set PDF
Password dialog box is displayed.
To password protect the document before saving, select Protect with
Password and enter the password in the Password field. Otherwise,
select Do Not Protect with Password.
The document is added to the document repository.
v
Select the Float or Lock check box to specify whether the loan rate was
locked.
Note
The Float and Lock check boxes are mutually exclusive.
If you select Float, the fields remain enabled so you can make adjustments if
the rate changes.
If you select Lock, the fields in the Interest Rate from Rate Sheet and Pricing
from Rate Sheet sections are disabled and cannot be modified. The Create
Lock Request button becomes enabled.
vi Click the Create Lock Request button.
The Lock Request is generated and is displayed on the screen.
vii Enter a file name if the File Name field is not pre-populated.
Requirement
A file name is required when the E-mail as PDF File or Save as PDF File
option is selected. The OK button is disabled if the File Name field is
blank. Enter a file name to enable the button.
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viii Select one of the following options from the Output Option dropdown list and
click OK.
•
E-mail as PDF File
The document is added to the document repository and the Set PDF
Password dialog box is displayed.
To password protect the document before sending, select Protect with
Password and enter the password in the Password field. Otherwise,
select Do Not Protect with Password.
An e-mail window from your default e-mail application opens with the form
attached as a PDF document.
Complete your e-mail and send it as you normally would.
•
Print
The document is added to the document repository and the Print
Document dialog box is displayed. Click OK to proceed with printing.
•
Save as PDF File
The document is added to the document repository and the Set PDF
Password dialog box is displayed.
To password protect the document before saving, select Protect with
Password and enter the password in the Password field. Otherwise,
select Do Not Protect with Password.
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The document is added to the document repository.
Related information
•
For information about creating Doc Type dropdown list options, refer
to Dropdown lists, on page 71.
•
Refer to E-mailing forms, on page 131, for more information about
setting PDF passwords and e-mailing forms.
•
For more information about the document repository, refer to
Electronic document storage, on page 589.
•
Refer to Chapter 21, Contact management (Cardex), for
information about the Cardex database.
Tracking verifications
Use Verifications tracking to manage the receipt of any verification documents that you
send for a loan file.
Attention
Verifications tracking is not available in prospect files.
To access the Verifications tracking screens:
1
Open a borrower file.
2
Select a verification worksheet from Track > Verifications:
•
•
•
•
•
VOB: Verification of Benefits
VOD: Verification of Deposit
VOE: Verification of Employment
VOL: Verification of Loan
VOM/R: Verification of Mortgage/Rent
The verification tracking screens are automatically populated when the verification
screens are populated. You can enter information into the verifications screens
manually or populate it by clicking the From Loan App... button. After the information
is inserted into the verification screen, it is automatically populated in the
corresponding Verification Tracking screen.
Note
Verification screens are accessible from the Verifs menu.
Point automatically inserts the date the verification was printed in the Ordered field,
and the date it was printed again in the Re-ordered field.
When a verification status is updated in the Verification screen, the item is also
updated in the loan checklist.
The verification screens contain the following information:
•
•
Point User Guide
Verifications that were ordered
Dates that they were ordered or re-ordered
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Loan tracking
•
3
Dates that they were received
Enter the date in the Received field when you receive and verify the verifications.
Related information
See Chapter 10, Verifications, for more information about Verifications.
Tracking title conditions
Use the Title screen to track the title conditions that must be cleared from the title report
before the loan can close.
Attention
Title tracking is not available in prospect files.
To access the Title screen:
1
Open a borrower file.
2
Select Track > Title.
The Title screen is displayed.
3
548
Complete the upper portion of the screen with the Title Date, Assessor’s Parcel
Number, Vesting, and Land Trust. Enter any additional information about the title
report in the Title Report Remarks field.
Calyx Software
Tracking HMDA reporting information
4
Enter the conditions that are required before the title insurance can be issued in the
Title Conditions section.
5
Complete the Title Report Required Endorsement and Long Legal Description
sections.
Tracking HMDA reporting information
The HMDA Reporting screen contains most of the information that is required to be
reported to the Federal Financial Institutions Examination Council (FFIEC) to comply with
the Home Mortgage Disclosure Act.
When a file is closed or another action is taken (for example, the application is withdrawn
or the loan is purchased), you must enter the closed date in this screen.
Important
If you do not enter a Closed date in your loan files, the HMDA report will
not include these loans and your reporting will be inaccurate.
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Loan tracking
Additional information such as the loan type, loan purpose, and occupancy status are
populated from other Point screens.
To access the HMDA Reporting tracking screen:
1
Open a prospect or borrower file.
2
Select Track > HMDA Reporting.
3
Complete the Loan Information, Property Information, Origination Information,
Reason(s) for Denial, and Denial/Counter Offer Tracking Information sections.
Links are provided in the Property Information section to help you find the
Metropolitan Area or Metropolitan Statistical Division (MSA/MD) number, county code,
state code, and census tract. Additional information (such as the loan type, loan
purpose, or occupancy status) is populated from other screens in Point.
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4
If the government monitoring information was completed in the Loan Application,
the Government Monitoring Section is already populated. If not, complete this section
here.
Note
This information is also on page 4 of the Loan Application and will
automatically populate either screen when completed.
Related information
Refer to Chapter 22, HMDA reporting, for more information about the
Home Mortgage Disclosure Act (HMDA).
Tracking RegulatorConnect data
The Regulator Connect screen contains information that is specific to RegulatorConnect
or the NMLS Mortgage Call Report.
RegulatorConnect is for reporting to state regulators performing state or multi-state exams
based on the Conference of State Bank Supervisors (CSBS) and the American
Association of Residential Mortgage Regulators (AARMR) initiative to bring greater
uniformity, modernization and effectiveness to the mortgage examination process.
NMLS Mortgage Call Report is for reporting to the Nationwide Mortgage Licensing System
(NMLS) as required by the Secure and Fair Enforcement for Mortgage Licensing Act of
2008 (SAFE Act).
To enter data specific to the RegulatorConnect Licensee Examination file:
1
Point User Guide
Open a prospect or borrower file.
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Loan tracking
2
Select Track > RegulatorConnect.
3
Complete the Loan Information section.
a
Enter the date the application was received by the originator.
b
Enter the date the application was received by the creditor.
c
Select an option from the Documentation Type dropdown list.
d
Select an option from the Negative Amortization Program Type dropdown list.
e
Enter the Option ARM Minimum Rate.
f
Enter the Seller Paid Points and Fees.
g
Enter the undiscounted rate in the Undiscounted Interest Rate field.
h
If the loan will not be sold into the secondary market, select the Portfolio Loan
Refinance check box.
4
i
Select an option from the Construction Loan Interest Estimation Type dropdown list.
j
Select the Exclude loan from RegulatorConnect report check box to exclude this
loan from the report.
Complete the NMLS Mortgage Call Report section.
a
Select the Prime check box if the loan is a prime rate loan.
b
If the transaction is subject to the FAS 140 Sale Treatment, select the
corresponding check box.
5
Select an option from the Property Type dropdown list.
6
Complete the HELOC section if the loan is a home equity line of credit:
The APR is automatically calculated and populated in the APR field.
552
a
Select the HELOC check box.
b
Enter the Minimum Draw Amount.
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Tracking contacts and agencies
7
c
Enter the number of years in the Draw Period field.
d
Enter the number of years in the Repayment Period field.
e
Enter the interest rate in the Initial Rate field.
f
Enter the fee in the Annual Fee field.
g
If there is an early termination fee, enter it in the Early Termination Fee field.
Click Save.
Related information
Refer to NMLS Mortgage Call Report, on page 639, for more
information about the NMLS Mortgage Call Report.
Tracking contacts and agencies
The Agent screen contains a log of all contacts in the pipeline for the various lenders,
brokers, and agencies that are involved in the loan.
The Agent screen stores data for the following agents:
Originator
Listing Agent
Mortgage Insurance
Lender
Selling Agent
Flood Insurance
Broker
Buyer’s Attorney
School Property Tax
Real Estate Broker (Buyer)
Seller’s Attorney
Regulatory Agency
Real Estate Broker (Seller)
Appraiser
Assignor
Closing Agent
Surveyor
Beneficiary
Title Insurance Company
Builder
Assignee
Buyer’s Agent
Property Tax
Trustee
Seller
Hazard Insurance
Servicer
In addition to these agents, five sections are included to add user-defined agents.
To access the Agent screen:
1
Point User Guide
Open a prospect or borrower file.
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Loan tracking
2
Select Track > Agent List.
Note
Information entered in the Company Information dialog box (Utilities
> Company Defaults > Company Info) automatically populates and
disables the fields in the Broker or Lender section, depending on which I
conduct business as a option is selected.
If am option is not selected, the fields are enabled for manual entry.
3
Enter the information for the agents who are applicable to this loan.
Use the Cardex database to populate as much information as possible.
4
Add any remaining agent information manually.
Tracking loan team members
The Branch/Team screen tracks the following information:
•
•
•
•
554
Branch information
Division data
Region information
Team information
– Originator
– Processor
– Underwriter
– Control person
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Tracking loan team members
–
–
–
Doc Prep
Closer/Funder
Shipper
Note
Branch/Team tracking is predominantly used by larger multi-branch
organizations with multiple staff involved in a single loan.
You can customize the dropdown lists for this information from the Utilities > Dropdown
Lists menu.
To access the Branch/Team screen:
1
Open a prospect or borrower file.
2
Select Track > Branch/Team.
Information that was previously entered in other screens is automatically populated.
3
Point User Guide
Enter missing information about the originator, processor, or underwriter in the
corresponding fields.
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Loan tracking
The originator license number and NMLS numbers are automatically populated if that
information was defined in the Originator dropdown list utility.
Important
If you change the originator name, you must press the <Tab> key on your
keyboard to populate the License # and NMLS # fields with the originator
information that was defined for the Originator dropdown list in the
Utilities menu.
4
Select the branch name from the Branch dropdown list.
5
Press the <Tab> key on your keyboard to populate the Branch #, License #, NMLS #,
and the control person Name fields in the Branch and Control Person sections.
6
Complete the Doc Prep, Closer/Funder, and Shipper sections as needed.
7
Select File > Save.
Related information
Refer to Dropdown lists, on page 71, for information about how to
create custom dropdown lists.
Tracking trust account information
The Trust Account screen is useful for recording financial information such as:
•
•
•
•
•
Funds paid out
Funds received
Check numbers
Dates
Client funds in broker’s custody
Attention
Trust account tracking is not available in prospect files.
Restriction
This option is available only to users who have access to financial
information. Access to financial information is specified for Point users in
Point Administrator. PointCentral users are granted read, write, or no
access to select Tracking screens as part of the data folder security
settings.
If you are not granted access to financial information, this menu option is
disabled.
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To complete the Trust Account screen:
Note
You can list up to 16 transactions in the trust account.
1
Open a borrower file.
2
Select Track >Trust Account.
3
In the Description field, enter a description of the payment.
4
In the Date field, enter the date the payments was sent or received.
5
In the Chk Number and Amount fields, enter the information in either the Funds Paid
Out or Funds Received section. Do not enter both.
6
Use the long field below the Date and Amount fields to enter comments that pertain to
the trust accounts.
Note
Point calculates the total of the funds that are paid, the funds that are
received, and the account balance. The remaining balance is included in
the Borrower status report and WebCaster status report.
The Trust Account screen is predominantly used in California.
Tracking loan profit or loss
The Loan Profit/Loss screen calculates the profits and losses that are realized on a
particular loan.
Attention
Loan profit/loss tracking is not available in prospect files.
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Loan tracking
To access the Loan Profit/Loss screen:
1
Open a borrower file.
2
Select Track > Loan Profit/Loss.
Restriction
This option is available only to users who have access to financial
information. Access to financial information is specified for Point users in
Point Administrator. PointCentral users are granted read, write, or no
access to select Tracking screens as part of the data folder security
settings.
If you are not granted access to financial information, this menu option is
disabled.
The Loan Profit/Loss screen is displayed.
3
Complete the Loan Information section.
a
If not already populated, select the Originator and Branch from the dropdown lists.
b
Enter the referral source in the Primary Referral Source field.
c
If a secondary referral source exists, enter it in the Secondary Referral Source
field.
d
Enter a lead ID, if applicable.
The referral sources and lead ID information are populated from the Contact
Information dialog box.
e
Select the Business Channel from the dropdown list.
If you select Brokered, the broker loan revenue is populated in the Revenue field. If
you select Retail, Wholesale, or Correspondent the banker loan revenue is populated
in the Revenue field.
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4
Complete the Commission Splits section.
The Commission Splits section records commission payments and deductions to
various individuals involved in the transaction. The top portion (the Loan Amount,
Revenue, Margin (from Rate Lock), Override, and Additional Flat Compensation
fields) are used to calculate the loan originator’s commission.
a
Enter the percentage of the loan amount w/MIP, FF that is applied to commission
in the Loan Amount field. To enter a dollar amount manually, click the lock box to
enable the field.
b
Enter the percentage of revenue that is applied to commission in the Revenue
field. To enter a dollar amount manually, click the lock box to enable the field.
c
Enter the percentage of the margin that is applied to commission in the Margin
(from Rate Lock) field.
d
Select one of the options from the dropdown list to determine how the override
commission is calculated.
If you selected Loan Amount or Revenue, enter the percentage of the override that is
applied to commission in the Override field. If you selected Flat Amount, the
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percentage field is removed and the dollar field becomes enabled. Enter a dollar
amount in the field.
e
Enter a value in the Additional Flat Compensation field for any additional
commission.
f
In the Deductions section, select the type of deduction from the dropdown list.
g
Select one of the options from the dropdown list to determine how the deduction is
calculated.
If you selected Loan Amount or Revenue, enter the percentage of the deduction to
be taken. If you selected Flat Amount, the percentage field is removed and the
dollar field becomes enabled. Enter a dollar amount in the field.
h
In the Other Splits section, select the individual to receive the commission from
the dropdown list. If not available in the list, enter it manually.
i
Select one of the options from the dropdown list to determine how the commission
is calculated.
If you selected Loan Amount or Revenue, enter the percentage that is applied to
commission in the percentage field. If you selected Flat Amount, the percentage
field is removed and the dollar field becomes enabled. Enter a dollar amount in
the field.
The Total Commission Paid field is automatically calculated.
j
5
Complete the Commission Paid Date field.
If the loan was originated by a bank, complete the Banked Loan section.
The Banked Loan section records the revenue generated from the loan. Most of the
fields are calculated fields and are automatically populated.
Complete any remaining fields manually, as applicable. Enter any additional fees in
the blank fields.
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6
If the loan was originated by a broker, complete the Brokered Loan section.
The Brokered Loan section records the revenue generated from the loan. Most of the
fields are calculated fields and are automatically populated.
Complete any remaining fields manually, as applicable. Enter any additional fees in
the blank fields.
7
In the Lender Charge field, enter the amount that was paid by the broker to the lender
as a percentage or dollar amount. If compensation from the lender is expected, enter
the amount as a negative number by using a minus sign (–).
8
Enter any comments about the compensation, fees, or calculations on this screen in
the Notes section.
a
Point User Guide
Click Add Item.
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Loan tracking
The Add Item dialog box is displayed.
562
b
Enter any comments in the space provided.
c
Click OK.
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Audit trail
The audit trail function in Point tracks changes to and actions taken in loan files for the
purpose of recording why a change was made, who made the change, and when the
change was made.
The audit trail begins after the loan file is saved for the first time and captures only the
differences since the last save.
Changes to the following information are not logged in the audit trail:
•
•
•
•
•
Liabilities
Real Estate Owned
Former employers
Verifications in the Verifs menu
Service Providers List screen
The audit trail log remains with the loan file when it is moved or copied to another data
folder unless you select the Copy only 1003 data to start a new loan including coborrowers option in the Copy Borrower, Copy Prospect, or Save As dialog boxes when
you copy an existing loan file.
Requirement
This function is available only at sites that run PointCentral and must be
enabled in PointCentral to be available for use. It is not available when
Point is not connected to PointCentral.
In addition, only users who are granted access rights to the audit trail log
by the PointCentral administrator can view the audit trail in Point.
Prerequisite
The audit trail function must be enabled in PointCentral before the audit
trail begins. It is a global setting that enables the audit trail for all loan
files across all data folders.
Related information
Refer to the PointCentral User Guide for more information about
enabling the audit trail function.
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Audit trail
Accessing the loan file audit trail
To access the loan file audit trail:
1
Open a prospect or borrower file.
2
Select Utilities > Audit Trail.
Requirement
The PointCentral administrator must have granted you access to the audit
trail log for you to view the Audit Trail option on the Utilities menu. If
you do not have access, the Audit Trail option is disabled on the menu.
The audit trail contains separate logs for changes made to fields and for documentrelated actions. Each log is accessible by selecting one of the tabs at the top of the
dialog box.
The following document-related actions are logged:
•
•
•
•
•
•
564
When documents, reports, or services are ordered through the Services interface
When a document is added to the document repository
When a document is deleted from the document repository
When a document is e-mailed from the document repository
When a document is printed from the document repository
When a document in the document repository is edited
Calyx Software
Searching for log entries
•
•
When a document is sent to or received from the borrower by using the integration
with WebCaster
When document request and collection activity occurs
Log entries for field changes show the date the change was made, the user who made
the change, the field name and ID that changed, the previous value in the field, and
the new value. Fields that are updated because of a recalculation or an interface
change are also included in the log.
Log entries for document changes show the date the change was made, the user who
made the change, the action that was taken in the document repository (added,
edited, deleted, e-mailed, printed, or saved), and the document name.
Tips
•
To sort the entries by one of the columns, click the column heading
to sort the records in ascending order. Click the column heading
again to sort in descending order. The Previous Value and Current
Value columns are not sortable.
•
To resize a column width, place the cursor on the vertical line to the
right of the column heading, click and hold, and drag to the left or
right to increase or decrease the column width.
Searching for log entries
You can search for entries by field name, field ID, user, change date, document name,
action, and action date.
To search the log:
1
Open a prospect or borrower file.
2
Select Utilities > Audit Trail.
Requirement
The PointCentral administrator must have granted you access to the audit
trail log for you to view the Audit Trail option on the Utilities menu. If
you do not have access, the Audit Trail option is not visible on the
menu.
Point User Guide
565
Audit trail
3
Select the Fields or Documents tab to determine where to search.
4
Select what you want to search from the Search By dropdown list.
5
Enter the search criterion in the search field.
If your search is by Field ID, Field Name, Action, Document Name, or User, the entries
are automatically filtered as you enter the search criterion. If you search by date, you
must enter additional criteria.
To search by date:
a
Select Change Date for a field search or Action Date for a document search from
the first dropdown list.
b
Specify the date criterion from the second dropdown list. You can specify a date
between a date range, earlier or later than a specific date, or a specific date.
c
Click Search.
The log is filtered and the entries that match the search criteria are displayed.
Printing the audit trail log
To print the audit trail log:
1
566
Open a prospect or borrower file.
Calyx Software
Printing the audit trail log
2
Select Utilities > Audit Trail.
Requirement
The PointCentral administrator must have granted you access to the audit
trail log for you to view the Audit Trail option on the Utilities menu. If
you do not have access, the Audit Trail option is not visible on the
menu.
3
Point User Guide
If necessary, perform a search to filter information before you print the log.
567
Audit trail
568
4
Click the Print button to open the Audit Trail Print Preview dialog box.
5
Click the Print icon to open the Print dialog box.
6
Specify the print parameters and click OK to print the log.
Calyx Software
Loan scenarios
13
Point provides tools to work with different types of loans. This topic includes scenarios for
processing the following types of loans:
•
•
•
Second loans
Construction loans
Investment loans
In this topic
• Subordinate financing
• Construction loans
• Investment loans
Subordinate financing
This information will help you to ensure that the proper calculations are made when you
process a loan with a second mortgage.
This topic provides information about processing the following types of second mortgages:
•
•
•
Primary homes
New first mortgages with new or existing second mortgages
Second or equity line mortgages on investment or second home properties
Creating standalone second mortgages
A standalone second mortgage is a second mortgage that is not used for the specific
purpose of buying a property.
To create a standalone second mortgage:
1
Open a borrower file.
2
On the Borrower Information screen, select Primary as the property type and
Second Mtg to indicate the second lien position.
3
Complete the Appr Val, Loan Amt, Note Rate, and Term/Due fields. Leave the Sales
Price field blank.
4
Click the Sub Financing button to enter the existing first mortgage balance in the
Subordinate Financing Information dialog box and click OK.
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Loan scenarios
5
Click HE & Oblig. Enter the first mortgage payment (the amount of the second is
already populated in the Other Fin field). Both amounts populate throughout the
screens in Point.
Related information
Refer to Borrower and prospect information screens, on page 253,
for more information about the Borrower Information screen.
Creating a new first mortgage with a new or existing second
To complete a new first mortgage and a new or existing second loan for refinance:
570
1
Open a prospect or borrower file.
2
In the Prospect Information or Borrower Information screen, select Primary as
the property type, First Mtg as the lien position, and Cash-Out Refi or No Cash-Out
Refi as the purpose of the loan.
3
Click the Sub Financing button at the bottom of the workspace.
Calyx Software
Subordinate financing
The Subordinate Financing Information dialog box is displayed.
4
Specify whether it is a New Loan or Existing Loan and click the 2nd Mtg button.
The Second Mortgage Payment dialog box is displayed.
5
Enter the information about the second mortgage and click OK.
6
Create a new second file or link to an existing file.
To create a new file:
a
Select Create Second Mortgage File > Create New Second Mortgage.
b
Name the second file if Auto File Naming is not enabled and click Save.
The link between the two files is established. A dialog box prompts you to open
the second file.
To link to an existing file:
a
Select Create Second Mortgage File > Link to Existing Second Mortgage.
b
In the Search & Select a File to Link To dialog box, enter the search criteria to
help you locate the file to which you want to link.
c
Select the file from the results and click OK.
Point synchronizes the two files. Some of the data in the second mortgage file
might change.
Point User Guide
571
Loan scenarios
d
Click OK in the Confirmation dialog box.
Related information
•
For more information about linking loans, refer to Linking first and
second mortgage files, on page 118.
•
Refer to Borrower and prospect information screens, on
page 253, for more information about the Borrower Information
and Prospect Information screens.
Creating second mortgages for an investment property or second
home
To create a second mortgage for an investment property or second home:
1
Open a borrower file.
2
On the Borrower Information screen, select Investment as the property type and
Second Mtg as the lien position.
When Investment is selected for the property type, the Gross Rent and Occ Rate fields
become enabled. Enter the applicable values for the property in those fields.
3
Complete the Appr Val, Loan Amt, Note Rate, and Term/Due fields.
4
Complete the Expenses section.
a
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Enter the first mortgage payment in the First Mtg field.
Calyx Software
Subordinate financing
The amount of the second is already populated in the Other Fin field. Both values
are also populated in other screens that contain these fields.
b
Click the HazIns, Taxes, and Mtg Ins buttons to calculate the fees for these fields.
c
Enter the Homeowner Association dues.
d
Enter any other expenses in the other field.
5
Complete the Other Obligations section.
6
Click the Sub Financing button to open the Subordinate Financing Information
dialog box.
7
Enter the amount of the first mortgage.
8
Enter other mortgage payments in the Other Financing Information section and click
OK.
Point User Guide
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Loan scenarios
9
In the Present Monthly Housing Expense section on page 2 of the Loan Application,
enter the present mortgage payment for the borrower’s primary residence and any
additional costs such as insurance and taxes.
Related information
•
Refer to Borrower and prospect information screens, on
page 253, for more information about the Borrower Information
screen.
•
Refer to Chapter 5, Loan Application, for more information about
the Loan Application.
Creating concurrent purchase loans (80-10-10)
When using a first and second loan for a purchase, the first loan is usually for 80% of the
value of the home, the second loan is for 10%, and the remaining 10% is the buyer’s down
payment.
Attention
Down payment includes the second mortgage loan amount combined
with the down payment. It does not show on the Loan Application.
The monthly payment calculates in the HE & Oblig field, and transfers to
page 2 of the Loan Application. It is displayed in the Proposed Monthly
Housing Expenses section.
To create the first loan:
1
Create a new prospect or borrower file.
2
Complete the following information in the Borrower Information screen:
a
Enter the borrower and co-borrower information.
b
In the Loan Type section, select Conventional, select Primary as the property
type, and select First Mtg as the lien position.
c
In the Sales Price, Appr Value, Loan Amt, Note Rate, and Term/Due fields, enter
the information for the first mortgage.
For this example, a 20% down payment is used.
The LTV and the CLTV fields should both show 80%.
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Calyx Software
Subordinate financing
d
Click the Sub Financing button.
Note
Two fields for subfinancing information are available in the Details of
Transaction section on page 4 of the Loan Application.
The New First Mortgage field is grayed out if the open file is the first lien
file. The Closing Costs from New Second Mortgage field is enabled.
The Closing Costs from New Second Mortgage field is automatically
populated when the new second mortgage is created and the closing
costs are entered to match the following fields:
•
Cash From/To Bor (field p) in the Details of Transaction section on
page 4 of the Loan Application.
•
Total Estimated Funds to Close field on the Fees Worksheet.
The Subordinate Financing Information dialog box is displayed.
e
Click the 2nd Mtg button to open the Second Mortgage Payment dialog box.
f
Complete the Loan Amount, Note Rate, Qual Rate, Term/Due, and Interest Only
fields for the second mortgage.
g
Click OK (assuming Appraisal Value and Sale Price are the same).
This amount automatically populates the Other Fin field in the Monthly Income
and Combined Housing Expense Information section on page 2 of the Loan
Application.
The value in the LTV field should still be 80%, but the value in the CLTV field is
now 90%.
3
Point User Guide
Open page 2 of the Loan Application and complete the following information:
a
Click HazIns to enter the hazard insurance rate in the Hazard Insurance dialog
box or check the lock box to enter a custom value.
b
Click Taxes to enter any tax rates for the property or check the lock box to enter a
custom value.
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Loan scenarios
c
Click MtgIns to enter the mortgage insurance information for the subject property,
if any, and click OK in the Mortgage Insurance dialog box or check the lock box
to enter a custom value.
4
Open the Fees Worksheet and enter the fees for the first loan.
5
Open page 4 of the Loan Application and complete the following information in the
Details of Transaction section:
6
a
Verify that field j, Subordinate Financing, contains the second mortgage loan
amount.
b
To manually enter closing costs paid by the seller, click the lock box next to line k,
CC paid by seller, to enable the field. Enter the amount.
c
Enter any other fees and credits in the line l fields.
Save the file.
To create the second loan:
1
From any screen in the first loan file, select File > Subordinate Financing > Create
New Second Mortgage.
2
If Auto File Naming is not enabled, enter a file name and click Save.
Restriction
The file name cannot contain any of the following characters:
\/:*?“<>|
The Second Mortgage File Created Successfully dialog box is displayed.
3
Click Yes to open the second mortgage file.
A new file is opened which contains the information for the concurrent second
mortgage.
The navigation panel contains two buttons to toggle back and forth between the two
linked loans.
4
Verify the following information on the Borrower Information screen:
Field
Value
Lien Pos
Second
Sales Price
Same sales price that is included on the first mortgage file
Down Pmt
90%
This down payment percentage is not included on the Loan
Application screen.
5
576
Appr Value
Same appraised value that is included in the first mortgage file.
Loan Amt
Second mortgage amount (10% of the sales price).
Note Rate
Rate for the second mortgage.
Term/Due
The Term/Due.
Mth Pmt
Second mortgage monthly payment.
Open page 2 of the Loan Application and verify that the values in the Proposed
Monthly Housing Expenses, including the First Mtg, Other Fin, HazIns, Taxes and
other fee fields match the values in the first mortgage file.
Calyx Software
Subordinate financing
6
Open page 4 of the Loan Application and verify the following information in the
Details of Transaction section:
Field
Value
Purchase Price (a)
Same as the 1st mortgage file
Subordinate financing (j)
Blank
For Sub Financing Only section
(This section applies only to the closing costs from the new first mortgage)
New First Mortgage
First mortgage loan amount.
Closing Costs from New First
Mortgage
Sum of costs from the first mortgage.
The sum in the Closing Cost box is the total of prepaids,
closing costs, PMI/MIP/Funding Fee, Discount, minus
Closing Cost paid by Seller and PMI/MI financed.
Loan Amt, excl. fee financed (m) Second mortgage amount.
Loan Amount (o)
The total second mortgage amount (m + n).
Cash from/to Bor (p)
Funds the borrower will pay or receive.
7
Open the Fees Worksheet and enter any fees for the second loan.
8
Open page 4 of the Loan Application and enter any other fees on line l in the Details
of Transaction section.
9
Save the file.
Related information
•
For more information about completing the Fees Worksheet, see
Good Faith Estimate, on page 180.
•
Refer to Borrower and prospect information screens, on
page 253, for more information about the Borrower Information
screen.
•
Refer to Chapter 5, Loan Application, for more information about
the Loan Application.
•
For more information about second mortgages, see Knowledge Base
article #0152 Piggy Back/First and Second Mortgage loans.
Creating concurrent loans for investment properties
Use the information provided to complete a concurrent loan for an investment property.
To create the first loan:
Note
The closing costs for the first loan transfer to the Closing Costs from New
First Mortgage field on the Fees Worksheet for the second loan.
1
Point User Guide
Create a new prospect or borrower file.
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Loan scenarios
2
Complete the following information in the Borrower Information screen:
a
In the Loan Type section, select Conventional, specify Investment as the property
type, and select First Mtg as the lien position.
When Investment is selected for the property type, the Gross Rent and Occ Rate
fields become enabled. Enter the applicable values for the property in those fields.
b
Enter the first mortgage information in the Sales Price, Appr Value, Loan Amt,
Interest Rate, and Term/Due fields.
c
Enter 20% in the Down pmt field.
The LTV and the CLTV fields should both contain 80%.
d
Click the Sub Financing button.
The Subordinate Financing Information dialog box is displayed.
e
Enter 10% of the sales price in the 2nd Mortgage field and click OK.
This amount automatically populates the Other Fin field in the Monthly Income
and Combined House Expense Information section on page 2 of the Loan
Application.
The value in the LTV field should still be 80%, but the value in the CLTV field should
be 90%.
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Calyx Software
Subordinate financing
3
Open page 2 of the Loan Application and complete the following information:
a
Click the Other Fin button in the Monthly Income and Combined House Expense
Information section to open the Second Mortgage Payment dialog box.
b
Enter the Note Rate, Qual Rate, and Term/Due for the second mortgage and click
OK.
c
Complete the hazard insurance, taxes, and mortgage insurance information.
Note
The amount in the Total Housing Exp field represents the Principal,
Interest, Tax and Insurance (PITI) of the subject property.
The amount in the Net Rental Income field equals the Gross Rent amount
times the Occ Rate, minus the PITI. The Net Rental field displays the net
rental income.
If the net rental income amount is positive, it populates the 1008
Transmittal Summary. If it is negative, it populates the 1008 Transmittal
Summary’s Neg Cash Flow box.
4
Open page 4 of the Loan Application and verify that the Subordinate Financing field
(field j) in the Details of Transaction section contains the second mortgage loan
amount.
5
Open the Fees Worksheet and enter the fees for the first loan.
6
Open page 4 of the Loan Application and enter any other fees on line l in the Details
of Transaction section.
Important
Do NOT check Closing Costs Paid by Seller in the second mortgage file.
7
Save the file.
To create the second loan:
1
Point User Guide
From any screen in the first loan file, select File > Subordinate Financing > Create
New Second Mortgage.
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Loan scenarios
2
If Auto File Naming is not enabled, enter a file name and click Save
Restriction
The file name cannot contain any of the following characters:
\/:*?“<>|
The Second Mortgage File Created Successfully dialog box is displayed.
3
Click Yes to open the second mortgage file.
A new file is opened which contains the information for the concurrent second
mortgage.
The navigation panel contains two buttons to toggle back and forth between the two
linked loans.
4
Verify the following information on the Borrower Information screen:
Field
Value
Lien Pos
Second Mtg
Sales Price
Same sales price as that on the first mortgage file
Down Pmt
90% (this figure is not included on the Loan Application screen)
Appr Value
Same appraised value as in the first mortgage file
Loan Amt
Second mortgage amount (10% of the sales price)
Note Rate
Rate for the second mortgage
Term/Due
Rate for the Term/Due
Mth Pmt
Second mortgage payment
5
Open page 2 of the Loan Application and verify that the Proposed Monthly Housing
Expenses, including the First Mtg, Other Fin, HazIns, Taxes and other fee fields, match
the values in the first mortgage file.
6
Open page 4 of the Loan Application and verify the following information in the
Details of Transaction section:
Field
Value
Purchase Price (a)
Same as the 1st mortgage file
Subordinate financing (j)
Blank
For Sub Financing Only section
580
New First Mortgage
First mortgage loan amount.
Closing Costs from New
First Mortgage
Sum of costs from the first mortgage.
Loan Amt, excl. fee
financed (m)
Second mortgage amount
Loan Amount (o)
The total second mortgage amount (m + n).
The sum in the Closing Cost box equals prepaids, plus closing
cost, plus PMI/MIP/Funding Fee, plus Discount, minus Closing
Cost paid by Seller and PMI/MI financed.
Calyx Software
Construction loans
Related information
•
For more information about completing the Fees Worksheet, see
Good Faith Estimate, on page 180.
•
Refer to Borrower and prospect information screens, on
page 253, for more information about the Borrower Information
screen.
•
Refer to Chapter 5, Loan Application, for more information about
the Loan Application.
Construction loans
You can complete three types of construction loans in Point:
•
•
•
Construction
Construction-to-permanent
Construction with Required Reserve
Important
Construction loans do not include a payment schedule on the printed
Truth-in-Lending Disclosure form based on the terms that are
entered.
They state “Repayment: One payment of principal of [the entire loan
amount] on [the end of the amortization period specified].”
For more information, refer to Subpart E (Special Rules for Certain Home
Mortgage Transactions) on the Reg. Z.
The Truth-In-Lending disclosure reflects the construction loan terms after you have
completed the Loan Application.
Creating construction loans
Complete the Loan Application as you would for any other loan. The following
exceptions apply to all construction loans:
1
In the Borrower (or Prospect) Information screen:
a
Point User Guide
Select either the Construction or Construction – Permanent check box.
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Loan scenarios
b
Complete the Sales Price, Appr Value, Loan Amt, Note Rate, and Term/Due fields
for this loan.
Tip
Point does not calculate construction draws. To indicate draws in the
payment schedule, select the Customize check box on the Truth-InLending disclosure, and enter the information there. When you finish,
click the Calculate button again.
2
Open page 1 of the Loan Application and complete the If Construction Loan
section,
a
Enter the estimated construction duration, in months, in the Period field or click
Calendar and enter the estimated date range of the construction.
The number of days is automatically calculated.
b
In the Int Rate and Req Rsv fields, enter the interest rate and required reserves (if
the values are known).
c
Complete the Yr Aqd (year acquired), Original Cost, Existing Lien, Lot Value (a),
and Impvmts (b) (Improvements) fields.
The Total (a+b) is calculated with these figures.
3
4
Open the Fees Worksheet and enter the loan fees.
Open the Truth-In-Lending screen and complete the Date Prepared and the 1st
Pmt Date fields.
5
Click Calculate.
Related information
•
Refer to Chapter 5, Loan Application, for more information about
the Loan Application.
•
Refer to Chapter 6, Disclosures and other forms, for more
information about the Borrower Information screen, Fees
Worksheet, and Truth-In-Lending disclosure.
Creating construction-to-permanent loans
Complete the Loan Application as you would for any other loan. The following
exceptions apply for construction-to-permanent loans:
1
582
Open page 1 of the Loan Application.
Calyx Software
Construction loans
2
In the Term__mths field in the Type of Mortgage and Terms of Loan section, enter the
loan term in months after the construction is complete.
For example, enter 360 for a 30 year term. Do not include the construction period as
part of the term.
3
Select the Construction– Permanent check box in the Purpose of Loan section.
4
In the If Construction Loan section, enter the estimated construction duration, in
months, in the Period field or click Calendar and enter the estimated date range of the
construction period.
5
If the loan requires a reserve, enter the amount of the reserve in the Req Rsv field.
Otherwise, leave the field blank.
Related information
Refer to Chapter 5, Loan Application, for more information about the
Loan Application.
Creating construction loans with required reserves
Complete the Loan Application as you would for any other loan. The following
exceptions apply for construction loans that require reserves.
Note
Required reserves increase the APR calculation.
1
Open page 1 of the Loan Application.
2
In the Term__mths field in the Type of Mortgage and Terms of Loan section, enter the
loan term in months after the construction is complete.
For example, enter 360 for a 30 year term. Do not include the construction period as
part of the term.
3
In the Purpose of Loan section, select the Construction check box.
4
In the If Construction Loan section, enter the estimated construction duration, in
months, in the Period field or click Calendar and enter the estimated date range of the
construction.
5
Enter the amount of the required reserve in the Req Rsv field.
Related information
Refer to Chapter 5, Loan Application, for more information about the
Loan Application.
Point User Guide
583
Loan scenarios
Investment loans
Creating investment loans
To complete a loan for investment property:
1
Create a new borrower file.
2
Complete the Borrower Information screen as you normally would with the
following exceptions:
a
In the Purpose of Loan section, select Investment.
When Investment is selected for the property type, the Gross Rent and Occ Rate
fields become enabled. Enter the applicable values for the property in those fields.
b
Complete the Sales Price, Loan Amt, Note Rate, and Term/Due fields.
If the loan is a refinance, complete the Appr Value field and leave the Sales Price
field blank.
Note
The Net Rent amount transfers to the Pos Cash Flow (Subj Property) field
or Neg Cash Flow (Subj Prop) in the Underwriting section in the
Transmittal Summary (1008).
3
Open page 2 of the Loan Application and complete the following information in the
Monthly Income and Combined Housing Expense Information section:
Note
The amount in the Total field for the Housing Expenses represents the
Principal, Interest, Tax and Insurance (PITI) of the subject property.
The amount in the Net Rent field equals the Gross Rent field times the
Occ Rate field minus the PITI.
The Net Rent field shows the positive cash flow or negative cash flow for
the subject property.
a
Complete the Gross Monthly Income section for the borrower and the coborrower, but exclude the Net Rent field.
If net rent is a positive amount, it is populated from the Schedule of Real Estate
Owned section on page 3.
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Investment loans
4
b
In the Monthly Housing Expenses section, enter the housing expenses for the
borrower’s owner-occupied residence in the Present column, regardless of the
type of loan. Point calculates the proposed monthly payment.
c
Complete the HazIns, Taxes, and MtgIns fields. Click the lock boxes to enable the
fields for manual entry.
Open page 3 of the Loan Application and complete the following information in the
Liabilities section:
a
The primary mortgage is already calculated into the ratios from the Present
Monthly Housing Expenses section, therefore, enter an M in the R/L(I)/M field to
calculate the amount as a negative value.
If you are paying off an existing mortgage on the investment property, be sure to
mark that it will be paid off.
b
5
Indicate second homes and land loans as liabilities (L).
On page 3 of the Loan Application complete the following information in the
Schedule of Real Estate Owned section:
a
If the loan is for a refinance, the subject property must be listed first.
b
To automatically calculate the net rent for additional rental properties, enter an
occupancy rate (typically 75%) in the Investment Property Occupancy Rate field.
Select the subject property and click Edit.
c
Select the property and enter an R in the S/PS/R field to indicate the property is a
rental.
d
Enter your primary residence and any additional real estate. Leave the S/PS/R
field blank for these properties.
Note
Investment properties are calculated into the ratios by using the amount
in the Net Rent field in the Schedule of Real Estate Owned section on
page 3 of the Loan Application.
6
Open the Transmittal Summary (1008) and verify the following information:
•
•
•
Point User Guide
The Proposed Monthly Payment column should reflect the borrower’s primary
residence (owner-occupied) regardless of the loan type. The amount
automatically populates the 1008 from the Present Monthly Housing Expenses
section on page 2 of the Loan Application.
If the subject property’s net rent is positive, the rental income is populated in the
Pos Cash Flow (Subj Prop) field. If the net rent is negative, the negative value will
populate the Neg Cash Flow (Subj Prop) field.
This calculation comes from any fields that you access by clicking the Investment
button in a Borrower Information or Prospect Information screen.
If non-married co-borrowers are sharing the loan, open the 1008 (Transmittal
Summary) in each co-borrower file and click the Other Obligations lock box to
enable the fields and delete the information in the Neg Cash Flow (Subj Prop) field.
•
The (Other Prop) field contains the total negative net rents from the REO section
of the Loan Application.
•
The All Other Pmts field contains a total of all liabilities, except mortgages, from
the Liabilities section of the Loan Application.
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Loan scenarios
•
The Total Payments field contains the total monthly payments, including any
negative cash flow on rental properties.
Related information
586
•
Refer to Chapter 5, Loan Application, for more information about
the Loan Application.
•
Refer to Chapter 6, Disclosures and other forms, for more
information about the Borrower Information screen and the
Transmittal Summary.
•
For more information about Investment loans, see Knowledge Base
article #0455 Entering an Investment Loan in Point.
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Electronic loan files
14
Point includes a group of screens in the eLoanFile menu that compile loan information for
electronic submission to vendors. Information that was entered into other screens
automatically populates the corresponding fields in the eLoanFile. All other information
must be entered manually. These screens are accessible from the eLoanFile menu.
eLoanFile
The following screens are used with eLoanFile transactions:
Borrower (or Prospect)
The Borrower and Prospect screens contain borrower-specific information from
various Point screens such as the Borrower Information and Credit Score
Disclosure screens.
Property
The Property screen is used to document specific information about the property
being purchased, such as property type, appraisal information, flood hazard
determination, and property record information.
Loan Product
The Loan Product screen is used to document specific information about the
loan, such as riders, prepayment information, and ARM information. It is also
possible to request and view disclosures from this screen.
Government (FHA/VA)
The Government (FHA/VA) screen is used to document information that is
required for FHA and VA loans.
Additional Loan Data
The Additional Loan Data screen is used to document miscellaneous loan
information, such as the transmittal summary and HMDA, underwriting, mortgage
insurance, Fannie Mae, and Freddie Mac information.
Related information
For more information about selecting products, requesting disclosures,
and how custom fields in the Vendor Specific Data screen are
populated, refer to Initial disclosures and closing documents, on
page 437.
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15
Point contains a document repository that is accessible from the Document Management
option on the eLoanFile menu. Use the document repository to electronically manage
your loan documents, including documents that were generated outside of Point such as
bank statements, pay stubs, and identification documents, from collection to final
submission.
In this topic
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•
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Accessing the document repository
Adding Point forms to the repository
Adding non-Point documents to the repository
Extracting pages from a document in the
repository
Saving documents in the document repository to
another location
Printing documents in the document repository
E-mailing files from the document repository
Searching for documents
Comparing documents
Each loan file has a separate document repository that is used to store and manage
electronic documents that are associated with that file. Use the document repository to
retain an electronic file of all information associated with the loan.
The document repository also facilitates the movement of documents throughout the loan
process. For example, when the loan paperwork is complete and ready for the
underwriter, you can set the stacking order and filter the list by Submission Package.
Select all the documents to send, click Email, and record the package date and time.
You can also use the document repository as a tool to send documents to and request
documents from borrowers through an interface with WebCaster.
Important
The flow of documents through the document repository is recorded in
the audit trail file if your site runs PointCentral and the audit trail is
enabled in PointCentral. The audit trail is not available when Point is not
connected to PointCentral.
The document repository stores the following types of documents:
•
Point-generated forms that are accessible from the Borrower Forms dialog box,
such as the Loan Application or Transmittal Summary
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•
Documents that were generated by using one of the Point services or interfaces,
such as a credit report or an appraisal
Attention
A copy of a document that is requested by using one of the Point services
is automatically stored in the document repository when the document is
received if the Automatic Document Storage option is set in the
Utilities > Company Defaults menu. If the option is not set,
documents requested by using one of the Point services are not added to
the document repository.
•
Electronic documents that were created outside of Point, for example, an
electronic copy of the borrower’s latest pay stub or some correspondence that
was created in Microsoft Word
The following methods are used to add documents to the document repository:
•
•
•
•
•
•
From the Document Management dialog box
From the Borrower Forms dialog box
By sending documents to or receiving documents from borrowers through the
WebCaster interface in the document repository or from Document Requests in
the Track: Status and Update screen
By requesting a document from one of the Point services
By requesting that a document be generated from one of the Point screens
Drag and drop
Related information
•
For more information about automatic document storage, refer to
Setting automatic document storage, on page 64.
•
For more information about sending documents and document
requests to borrowers from the document repository, refer to
Sending documents to borrower WebCaster accounts, on
page 512.
Accessing the document repository
To access the document repository:
1
Open a prospect or borrower file.
2
Select eLoanFile > Document Management.
Tip
You can also access the document repository by selecting eLoanFile:
Document Management from the shortcut menu or by clicking the
Document Management icon on the toolbar.
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Accessing the document repository
The Document Management dialog box is displayed.
The Document Management dialog box is comprised of a set of buttons at the top
of the dialog box, the main window that contains a document list, document details,
and a preview pane to view the document.
Tips
•
To sort the documents by one of the columns, click the column
heading to sort the records in ascending order. Click the column
heading again to sort the forms in descending order. The default sort
order is by date.
The sort order is retained for all subsequent loan files until you
change it again.
•
To resize a column width, place the cursor on the vertical line to the
right of the column heading, click and hold, and drag to the left or
right to increase or decrease the column width.
You can perform the following actions from the Document Management dialog box:
•
•
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•
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Point User Guide
Specify a stacking order
Search
Filter active or inactive documents or by package type
Add comments to a document by using the Conversation Log
Select or deselect all documents
Move documents up or down in the list
View documents
Compare documents
Add documents to the repository
Edit category, description, and other document-specific information
Delete documents
Email documents
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•
•
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Print documents
Save documents to a different file
Send and retrieve documents to or from WebCaster
Specify a package date
The following information about the document is stored in the repository:
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•
•
•
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Date and time the document was added to the repository
Name of the person who stored the document
Document source (Received From field)
Document size
Active status
Category
MISMO document classification type
Document description
Package information
Date and time document was sent to borrower through WebCaster
Date and time document was viewed by borrower in WebCaster
Whether a signature is required
Note
The name of the user who is logged in is automatically populated in the
Stored by field. When Point is not running in a secure mode, you can
change the name that displays by selecting Change Name from the File
menu while in the Loans tab.
Adding Point forms to the repository
To add Point forms to the repository:
1
2
Open the borrower or prospect file that contains the information you want to store.
Select eLoanFile > Document Management to access the Document
Management dialog box.
3
Click Add.
The Add Selection dialog box is displayed.
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4
Select Add Point Form and click OK.
The Borrower Forms dialog box is displayed.
Store is automatically selected as the Output Option.
Tip
You can also access the Borrower Forms dialog box directly by
selecting File > Store, File > Print, or File >Print Preview.
If you do not access the dialog box by using the Store menu option,
verify that the Output Option is Store before you complete the action.
5
Select the forms to store in the repository.
The forms are listed in the Forms Selected section as they are selected.
6
Use the Print Option dropdown list to specify whether you want to store the forms
blank, blank with company information, or with data.
7
If you selected multiple forms and you want to save them in a single PDF file, select
the Store as one file check box.
If the check box is not selected, a separate PDF file is generated for each form.
8
Click Store.
If the Store as one file check box is selected when you click Store, the Document
Name dialog box is displayed which prompts you to name the file. Enter a file name
and click OK.
The forms are converted to a single PDF document and the pages are displayed
individually in the Document Information Preview dialog box. If the Store as one
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file check box was not selected, each PDF file is displayed individually in the
Document Information Preview dialog box.
When the Show Thumbs (Rotate, Extract, Delete, Reorder pages) check box is
selected, a document thumbnail is displayed next to the preview page and the
thumbnail icons become visible. To view a different page in a multiple-page document,
click the thumbnail of the page you want to view or use the scroll bar to the right of the
preview window.
Click the View button to open the document in a separate PDF file.
The thumbnail icons are used to perform the following functions:
Icon
Description
If you delete a page in error, click the Undo icon to restore the page. To
restore multiple deleted pages, click the Undo icon until you restore
every page.
The Undo icon is inactive when there are no pages to restore.
Click the Delete icon to remove the selected thumbnails from the PDF
document.
Click the Extract icon to copy the selected thumbnails into a separate
PDF document.
Use the magnification icons to increase or decrease the magnification of
the pages in the thumbnail pane. The magnification level is retained
when you exit the loan file.
Use the rotate icons to rotate the selected pages 90 degrees to the right
or left.
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Adding Point forms to the repository
Tips
•
To select multiple thumbnails, hold the <Ctrl> key on your keyboard
while you make each selection.
•
Resize the thumbnail view by holding the mouse over the edge of the
scroll bar between the thumbnail and the preview panes until a
double arrow is displayed. Click the scroll bar and move it to the left
or right to increase or decrease the panes as needed.
Restriction
The Extract icon and the thumbnails are disabled for users who are not
granted access to secured areas.
Secured area access is specified for Point users in Point Administrator.
PointCentral users are granted edit access in Document Management as
part of the data folder security settings.
Use the controls at the bottom of the dialog box to scroll through the pages or to
enlarge the view.
The Received From field is automatically populated with Point Generated Form.
9
If the document is active, select the Active check box.
10 To allow only users who are granted access to the Secondary Marketing screen in
PointCentral access to the document, click the Restrict to Secondary Marketing
check box.
11 Select the document category from the Category dropdown list.
12 Select the MISMO document type from the Type dropdown list.
Note
Default category and type lists are provided. You can add and change the
lists from the Utilities > Company Defaults > Document Categories/
Types menu option.
13 Select the package that is to include the document from the Package dropdown list.
14 Enter who is to receive the package in the To field.
15 Specify a date and time.
16 Review the document and click Add to add it to the repository.
If multiple PDF files were generated, the next file is displayed.
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If you do not want to add the document, click Cancel & Next to view the next
document without adding the current document to the repository.
Note
The Cancel & Next button is available only when more than one PDF file
is generated.
Click Cancel or Cancel All to end the process.
The updated Document Management dialog box is displayed.
New and extracted documents are highlighted.
17 Select a document stacking order from the Stacking Order dropdown list. If you change
the sequence of the documents and want the previous stacking order, click Restack to
restack the files in the original sequence.
Note
Documents that are not included in the stacking order are displayed at
the end of the stack.
Filter the documents in the view by selecting the Active check box or a Package Type.
To open a document in the repository, select the document and click Edit or doubleclick the document.
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Adding non-Point documents to the repository
To delete a document in the repository, select the document and click Delete.
Related information
•
For more information about creating category and document type
lists, refer to Creating document categories and types, on
page 58.
•
For more information about stacking orders, refer to Specifying
document sequence in the document repository, on page 61.
•
For more information about creating package lists, refer to Creating
document package types, on page 62.
•
For more information about the Borrower Forms dialog box and
printing forms, refer to Print and e-mail options, on page 123.
Adding non-Point documents to the repository
You can add any electronic document to the document repository if it is in one of the
following supported formats:
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PDF (pdf)
Images (jpeg, jpg, gif, bmp, tif, tiff)
Microsoft Word (doc, docx)
Text (txt)
Rich text (rtf)
HTML (html, htm)
UAD XML and non-UAD appraisal XML files only (xml)
To add an existing document on your computer to the document repository:
1
2
Open the borrower or prospect file that contains the information you want to store.
Select eLoanFile > Document Management to access the Document
Management dialog box.
3
Click Add.
Tip
You can also drag and drop an existing document or an Outlook e-mail
attachment to the document repository.
Open a loan file, locate the document on your computer or in an e-mail,
and drag the file to the open loan file or the Point button on the
Windows taskbar.
Respond Yes to the prompt to confirm the addition and proceed to
complete the Document Information Preview dialog box.
The Add Selection dialog box is displayed.
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4
Select Add File from Computer and click OK.
The Add Document dialog box is displayed.
5
Navigate to the location where the document is stored on your computer and select
the file.
6
Click Open.
Attention
If the file you selected is not in PDF format, it is converted to PDF
automatically.
The Document Information Preview dialog box is displayed.
When the Show Thumbs (Rotate, Extract, Delete, Reorder pages) check box is
selected, a document thumbnail is displayed next to the preview page and the
thumbnail icons become visible. To view a different page in a multiple-page document,
click the thumbnail of the page you want to view or use the scroll bar to the right of the
preview window.
Click the View button to open the document in a separate PDF file.
The thumbnail icons are used to perform the following functions:
Icon
Description
If you delete a page in error, click the Undo icon to restore the page. To
restore multiple deleted pages, click the Undo icon until you restore
every page.
The Undo icon is inactive when there are no pages to restore.
Click the Delete icon to remove the selected thumbnails from the PDF
document.
Click the Extract icon to copy the selected thumbnails into a separate
PDF document.
Use the magnification icons to increase or decrease the magnification of
the pages in the thumbnail pane. The magnification level is retained
when you exit the loan file.
Use the rotate icons to rotate the selected pages 90 degrees to the right
or left.
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Tips
•
To select multiple thumbnails, hold the <Ctrl> key on your keyboard
while you make each selection.
•
Resize the thumbnail view by holding the mouse over the edge of the
scroll bar between the thumbnail and the preview panes until a
double arrow is displayed. Click the scroll bar and move it to the left
or right to increase and decrease the panes as needed.
Restriction
The Extract icon and the thumbnails are disabled for users who are not
granted access to secured areas.
Secured area access is specified for Point users in Point Administrator.
PointCentral users are granted edit access in Document Management as
part of the data folder security settings.
Use the controls at the bottom of the dialog box to scroll through the pages or to
enlarge the view.
7
Enter the source of the document in the Received From field.
8
If the document is active, select the Active check box.
9
To allow only users who are granted access to the Secondary Marketing screen in
PointCentral access to the document, click the Restrict to Secondary Marketing
check box.
10 Select the document category from the Category dropdown list.
11 Select the MISMO document type from the Type dropdown list.
Note
Default category and type lists are provided. You can add and change the
lists from the Utilities > Company Defaults > Document Categories/
Types menu option.
12 Enter a description in the Description field.
13 Select the package that is to include the document from the Package dropdown list.
14 Enter who is to receive the package in the To field.
15 Specify a date and time.
16 Review the document and click Add to add it to the repository.
Click Cancel to end the process.
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The file is stored in the repository and the updated Document Management dialog
box is displayed.
New and extracted documents are highlighted.
17 Select a document stacking order from the Stacking Order dropdown list. Click Restack
to restack the files in the original sequence.
Note
Documents that are not included in the stacking order are displayed at
the end of the stack.
Filter the documents in the view by selecting the Active check box or a Package Type.
To open a document in the repository, select the document and click Edit or doubleclick the document.
To delete a document in the repository, select the document and click Delete.
Related information
•
For more information about creating category and document type
lists, refer to Creating document categories and types, on
page 58.
•
For more information about stacking orders, refer to Specifying
document sequence in the document repository, on page 61.
•
For more information about creating package lists, refer to Creating
document package types, on page 62.
•
For more information about the Borrower Forms dialog box and
printing forms, refer to Print and e-mail options, on page 123.
Extracting pages from a document in the repository
The extract function copies the selected document pages in the Document Information
Preview dialog box to a separate document and stores it in the repository.
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Extracting pages from a document in the repository
To extract pages from a document:
1
2
Open a prospect or borrower file.
Select eLoanFile > Document Management to access the Document
Management dialog box.
3
Select the document that contains the pages you want to extract and click Edit.
Attention
You can also extract pages from a document while in the process of
adding the document to the repository.
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The Document Information dialog box is displayed.
4
Select the Show Thumbs (Rotate, Extract, Delete, Reorder pages) check box to
display the document thumbnails.
5
Select the thumbnail of the pages that you want to extract. To select multiple
thumbnails, press and hold the <Ctrl> key on your keyboard while making each
selection.
6
Click the Extract icon (
).
Restriction
If the PDF file is secured, the extract icon is disabled and you cannot
extract any pages from this document.
For information about how to apply or remove security for PDF
documents, refer to your Adobe® Acrobat® documentation.
The selected pages are copied and are displayed in the Document Extraction
Preview dialog box.
When the Show Thumbs (Rotate, Extract, Delete, Reorder pages) check box is
checked, none of the icons are enabled in the Document Extraction Preview
dialog box unless multiple pages were extracted and a page is selected. If that is the
case, the Delete and Undo icons are enabled if the user has access to secured areas
in Point or is granted Edit access in PointCentral.
The Stored, By, and Received From fields are populated with the current date, time, the
name of the user who extracted the files, and the file source.
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If the document is active, select the Active check box.
8
To allow only users who are granted access to the Secondary Marketing screen in
PointCentral access to the document, click the Restrict to Secondary Marketing
check box.
9
Select the document category from the Category dropdown list.
Calyx Software
Saving documents in the document repository to another location
10 Select the MISMO document type from the Type dropdown list.
Requirement
This is a required field.
11 Enter a description of the document in the Description field.
12 Select the package that is to include the document from the Package dropdown list.
13 Enter who is to receive the package in the To field.
14 Specify a date and time.
15 Click OK to add the extracted document to the repository.
The Document Information dialog box with the original document is displayed.
16 Click OK to save the original document.
If you click Cancel and the document was previously saved in the document
repository, the extracted pages remain in the document.
Saving documents in the document repository to another
location
To save files in the document repository to another location:
1
2
Open the borrower or prospect file that contains the documents that you want to save
to a different location.
Select eLoanFile > Document Management to access the Document
Management dialog box.
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3
Select the documents that you want to save to another location.
Tips
4
•
To select multiple files, hold the <Ctrl> key as you select each file. To
select multiple consecutive files, hold the <Shift> key as you select
the first and last files.
•
To select all of the files, click Select All. To un-select all the selected
files, click Deselect All.
Click Save As.
•
If the document originated in UAD XML format, the UAD Appraisal Report Save
As Type dialog box is displayed giving you the option to save the file in PDF
format or in XML format with the PDF image embedded in the file.
Select the file format option and click OK.
•
If the document originated in PDF format, you selected multiple files, or if you
select Document Image only (PDF) in response to the UAD Appraisal Report
Save As Type dialog box:
The Set PDF Password dialog box is displayed.
•
Select either Protect with Password or Do Not Protect with Password.
–If you select Protect with Password, enter the password and click OK.
–If you select Do Not Protect with Password, click the OK button.
Important
If you password-protect the document, anyone who attempts to open
the document is prompted to enter the password.
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The Save As dialog box is displayed.
•
If you select Document Image and Data (XML):
The Save As dialog box is displayed.
5
Navigate to the location where you want to save the file, enter the file name, and click
Save.
The file is saved to the location you specified.
Note
If you selected more than one document to save to another location, the
documents are merged and saved in one PDF file in the order they appear
in document storage—they are not saved as individual files.
You cannot save files to XML format in a group. You can save only one
XML file at a time.
Printing documents in the document repository
To print a document in the repository:
1
2
Open the borrower or prospect file that contains the files you want to print.
Select eLoanFile > Document Management to access the Document
Management dialog box.
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3
Select the documents to print and click Print.
Tip
To select multiple files, hold the <Ctrl> key as you select each file. To
select multiple consecutive files, hold the <Shift> key as you select the
first and last files.
To select all of the files, click Select All. To un-select all the selected files,
click Deselect All.
A PDF file that contains all of the selected documents is opened.
4
Select File > Print.
The Print dialog box is displayed.
5
Specify the printer and other settings and click OK.
E-mailing files from the document repository
To e-mail documents from the document repository:
1
2
Open the borrower or prospect file that contains the files you want to e-mail.
Select eLoanFile > Document Management to access the Document
Management dialog box.
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E-mailing files from the document repository
3
Select the files that you want to e-mail.
Tip
To select multiple files, hold the Ctrl key as you select the individual files.
To select multiple consecutive files, hold the Shift key as you select the
first and last files.
To select all of the files, click Select All. To un-select all the selected files,
click Deselect All.
4
Click Email....
The Email Document dialog box is displayed.
5
Edit the file name if needed, and click OK.
The Set PDF Password dialog box is displayed.
6
Select either Protect with Password or Do Not Protect with Password.
•
•
If you select Protect with Password, enter the password and click OK.
If you select Do Not Protect with Password, click the OK button.
Important
If you password-protect the document, anyone who attempts to open
the document is prompted to enter the password.
An e-mail window from your default e-mail application opens with the selected files
attached as a single PDF document.
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Complete your e-mail and send it as you normally would.
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Searching for documents
Search for documents in the document repository by the Description field.
To search for a document:
1
2
Open the borrower or prospect file that contains the documents you need.
Select eLoanFile > Document Management to access the Document
Management dialog box.
3
Enter the description of the document in the Search field and click Search.
The documents that contain the search string are highlighted.
Comparing documents
Use the Compare button to compare documents in the document repository. For example,
if you have multiple versions of a document, you can open them simultaneously to
compare them and determine which one is the most current version.
To compare documents:
1
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Open the borrower or prospect file that contains the files you want to compare.
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Comparing documents
2
Select eLoanFile > Document Management to access the Document
Management dialog box.
3
Select up to four documents that you want to compare and click the Compare button.
Tip
To select multiple files, hold the <Ctrl> key as you select each file. To
select multiple consecutive files, hold the <Shift> key as you select the
first and last files.
The three documents are displayed side-by-side for viewing.
You can change the document description and package information for each
document as needed.
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Templates
Use templates in Point to create boilerplate loan files and loan information that you can
reuse multiple times.
The Templates tab, which is located on the navigation panel, gives you access to all the
template building tools in Point. Build your own templates and customize them to meet
your needs.
You can create the following types of templates:
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•
•
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•
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Reports & Marketing
Loan program
Closing cost scenarios
Prospect and borrower files
Importing and exporting data
Forms, letters, and e-mails
In this topic
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•
•
•
•
Loan program templates
Closing cost scenario templates
Master file templates
Editing templates
Deleting templates
Import and export templates
Related information
Refer to Chapter 17, Reports, for information about Report templates
and Chapter 18, Marketing tools, for information about Marketing
templates.
Loan program templates
Use loan programs templates to populate detailed loan information in the following
screens:
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•
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Amortization
Debt Consolidation
CA MLDS, Non-Traditional
Fees Worksheet
Loan Comparison
Prequalification
Prospect Information/Borrower Information
Truth-in-Lending
Populate screens with a loan program template by clicking the Loan Prog or Loan Prg
button and selecting a loan program from the list of templates.
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Creating loan program templates
To create a loan program template:
1
Select the Templates tab from the navigation panel.
2
In the Select a Template Category section, select Loan Program, and click the New
button.
The Loan Program: Template screen is displayed.
3
In the Loan Program Name field, enter a brief, descriptive name of the template. This
name displays in the loan program list when you select the template.
4
Complete all the applicable fields. If the loan is an adjustable, buydown, or graduated
payment mortgage (GPM), complete all fields related to that loan type.
For an adjustable rate mortgage, select the check box that indicates whether
adjustments should round up or down.
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5
When finished with the template, save the file.
Important
Do not change the file extension or Point will not recognize the template.
Related information
For information about how to complete the fields in the loan program
template, refer to Truth-In-Lending Disclosure Statement, on
page 223.
Closing cost scenario templates
Closing costs are calculated in the Fees Worksheet. Use a closing cost scenario
template to avoid repeat data entry for regular loan costs. Closing cost scenario templates
are also useful for marketing loans to prospects.
After you have set up your closing cost scenario templates, access them by clicking the
CC Scen or CC Scenario buttons.
Closing cost scenarios are available in prospect and borrower files in the following
screens:
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Debt Consolidation
Fees Worksheet
Loan Comparison
Prequalification
Prospect Information/Borrower Information
Any changes you make in one screen also populate in the others. Point re-calculates all
figures and ratios automatically.
Tip
You can display the Ratios dialog box for the current loan file at any
time by selecting Utilities > Display Ratios, by clicking the Ratios icon
on the toolbar, or by typing <Ctrl> + <T>. The Ratios dialog box
contains the top, bottom, LTV, and CLTV ratios.
Creating closing cost scenario templates
To create a closing cost scenario template:
1
Select the Templates tab from the navigation panel.
Attention
The closing cost scenario template is similar to the Fees Worksheet
screen. When you save the closing cost scenario template, you can apply
it to all Point files and populate the GFE or the MLDS.
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2
In the Select a Template Category section, select Closing Cost Scenario, and click the
New button.
The Closing Cost Scenario: Template screen is displayed.
3
In the Closing Cost Scenario Name field, enter a brief, descriptive name of the
template. This name displays in the closing cost scenario list when you select the
template.
Attention
To create a template for the MLDS:
1
2
4
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In the closing cost scenario template, select Forms > MLDS (CA
GFE).
Proceed as you would when completing the GFE.
Enter the standard fees that you would use for the loan type.
Calyx Software
Master file templates
5
Save the file.
Important
Do not change the file extension or Point will not recognize the template.
Related information
•
For information about how to complete the fields in this template,
refer to Good Faith Estimate, on page 180.
•
For more information about closing cost scenario templates, see
Knowledge Base article #0410 Creating Closing Cost Scenarios to
default the Good Faith Estimate.
Master file templates
Create master file templates to create a complete loan file that contains information that is
identical for different loans. You might want to create a master file for each type of loan
program you offer and use those templates when creating new borrower or prospect files.
Enter data into templates as you would with any loan file. However, include only
information that is constant for the template loan type.
Most of the information in the Prospect Information screen is so general that it varies
from file to file. Because of this, you should leave most of the information blank in the
prospect master file template.
Related information
For more information about master file templates, see Knowledge Base
article #0475 Defaulting information into Point files using a Master
template.
Creating master file templates
To create a master file template:
1
Select the Templates tab from the navigation panel.
2
In the Select a Template Category section, select Prospect Master or Borrower
Master, and click the New button.
The Information screen is displayed.
3
Complete all the relevant fields in this and in the other applicable screens.
Use the Loan Program and CC Scenario buttons to include a loan program and
closing cost template in the master template.
Tip
To navigate Point screens from a master file, select the form you want to
access or add to the master file template from the Forms menu.
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Templates
4
When you are finished entering data, save the master file by selecting File > Save.
Related information
Refer to the applicable loan topic for details about completing a specific
form.
Using master file templates
You can apply master file templates to a new loan file at the time it is created, or you can
import the master file template into an existing loan file.
To import a master file template into an existing file:
Caution
The contents of the imported file overwrite any existing data in your file.
1
Open a prospect or borrower file.
2
Select File > Import From > Borrower Master File or File > Import From >
Prospect Master File.
3
When the Import Data from Borrower Master File dialog box is displayed, select
the template you want to import and click Open.
The template data is imported into the file.
Related information
For more information about creating new files from master file
templates, see Loan file creation, on page 99.
Editing templates
To edit a template:
1
Select the Templates tab from the navigation panel.
2
Select the type of template to edit from the Select a Template Category.
3
Select the template you want to modify and click Open.
4
Modify the template as needed and save the file.
Deleting templates
To delete a template:
1
Select the Templates tab from the navigation panel.
2
Select the type of the template that you want to delete from the Select a Template
Category.
3
Select the template you want to delete and click Delete.
A confirmation dialog box is displayed.
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Calyx Software
Import and export templates
4
Click Yes to confirm the deletion.
Import and export templates
You can create templates to import and export files to and from Point. You can import and
export data in Point to ASCII files in single files or in batches.
Data import templates
You can import data into Point from outside sources, and provide interface capabilities
from virtually any other business application.
Creating data import templates
To create a template to import data from other applications:
1
Select the Templates tab from the navigation panel.
2
Select Data Import and click the New button.
Tip
It is not necessary to create a template to convert files from Fannie Mae
format 3.0 or 3.2 (.fnm).
The Data Import Template screen is displayed.
3
Select format of the file you are importing from the Import Format dropdown list.
4
If you are importing a file in ASCII format, click Advanced to open the Advanced
Import Format Settings dialog box where you can define the text delimiters.
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Templates
5
In the Input Data File field, enter the complete path name of the file to be imported (for
example, c:\pointexp.txt).
To specify a different file to import each time you use this template, leave the field
blank.
6
Select the Field Name Header in First Row check box if the file to be imported has
column headers in the first row.
7
Select the Update Existing Files check box to overwrite an existing file with the same
name.
8
If you are importing a delimited text file, complete the table in the Data Import
Template screen.
Create an entry for each column in the in the import file up to the last item you want to
import. To exclude a column from the import, leave the Maps to Field ID and Bor/CoBor columns blank for that column.
Column in File
If you selected the Field Name Header in First Row check box, type the column
heading in the file being imported.
If you didn’t select the Field Name Header in First Row check box and the file
does not contain header names, type the column numbers (for example, 1, 2,
3…).
Maps to Field ID
For each row, specify the field ID that corresponds to the data in Point.
Tip
Use the FIELD ID Excel file (FieldID.xls) to identify field IDs when you define
templates. The Excel file is located in the WINPOINT folder.
Brw/Co-Brw
Specify which file to use for the import:
9
•
Enter a 0 for a prospect or borrower file
•
Enter a 1 through 5 to correspond to a co-borrower associated with the loan
file.
Save the file.
Important
Point saves all data import template files with the imp extension. Do not
change the extension.
Related information
For more information about determining the field ID of any field in Point,
see Identifying fields and field IDs, on page 97.
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Calyx Software
Import and export templates
Editing data import templates
Because the sequence of the rows in the data import template must exactly match the
sequence of the columns in the file from which you are importing the data, you might need
to edit the template before you import the file.
To change the row sequence in a data import template:
1
Select the Templates tab from the navigation panel.
2
Select Data Import.
3
Select the import template you want to edit and click the Open button.
4
Select the row that you want to move. To move multiple consecutive rows, select the
first row and highlight the rows below it.
5
Select Edit > Cut.
6
Select the row number where you want to move the data.
7
Select Edit > Paste.
Data export templates
Point interfaces with other Windows® (or DOS®) applications. It also interfaces with
applications used by the following types of companies:
•
•
•
Credit
Document preparation
Other mortgage service companies
Tip
The Export function exports data from one file at a time.
To export data from multiple files, use the export function in Reports.
If you do business with lenders that offer automated underwriting systems, the data export
engine can send the data in Point files to those applications as well. Point includes a data
export template (called sample.exp) that contains more than 70 of the most commonly-used
fields for data export. Use this template as a basis for building your own, or create new
data export templates.
Creating a data export template from the sample
A sample export template is provided with Point. You can use this template as a base for
creating new templates.
To create a new data export template by using the Point sample template:
1
Select the Templates tab from the navigation panel and select Data Export.
2
Select the Sample file and click Open.
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Templates
The Data Export Template screen is displayed.
3
Select the export format from the Export Format dropdown list.
If the application you want to export to is not available, select <custom ASCII format>
and proceed to Step 5. The default format is Microsoft Word.
If you selected a Microsoft application, the default file path of the exe file is
automatically populated in the Executable to Launch field.
Important
Be sure to verify that the path in the Executable to Launch field is correct.
4
If you did not select a Microsoft application or the application path is not correct,
browse to the location of the exe file for the selected application and select the file.
Note
The output data file is saved in the WINPOINT\WORK folder.
The default name and path for the output data file is
C:\WINPOINT\WORK\pointexp.dat.
5
620
If you selected <custom ASCII format>, click Advanced.
Calyx Software
Import and export templates
The Advanced Export Format Settings dialog box is displayed.
This dialog box is used to specify the delimiters for the output data file.
6
Click OK to accept the defaults and return to the data export sample template.
7
To link to a merge file, click Browse in the Document to Link to field and navigate to
the file.
8
In the Output Data File field, click Browse and navigate to the file that contains the
data to export.
9
Edit the table by removing fields or entering additional field information as applicable.
10 After you are finished building the template, select File > Save As.
11 Enter a file name and click Save.
Important
Point saves data export templates with an exp extension. Do not change
the extension. The file name cannot contain any of the following
characters:
\/:*?“<>.
Related information
For more information about field IDs, refer to Identifying fields and
field IDs, on page 97.
Creating and editing data export templates
The process for creating a new data export template is almost identical to the process for
building one from the sample.
To create a data export template:
1
Select the Templates tab from the navigation panel and select Data Export.
2
Click New.
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Templates
The Data Export Template screen is displayed.
3
Select the export format from the Export Format dropdown list.
If the application you want to export to is not available, select <custom ASCII format>
and proceed to Step 5. The default format is Microsoft Word.
If you selected a Microsoft application, the default file path of the exe file is
automatically populated in the Executable to Launch field.
Important
Be sure to verify that the path in the Executable to Launch field is correct.
4
If you did not select a Microsoft application, browse to the location of the exe file for
the selected application and select the file.
Note
The output data file is saved in the WINPOINT\WORK folder.
The default name and path for the output data file is
C:\WINPOINT\WORK\pointexp.dat.
5
622
If you selected <custom ASCII format>, click Advanced.
Calyx Software
Import and export templates
The Advanced Export Format Settings dialog box is displayed.
This dialog box is used to specify the delimiters for the output data file.
6
Click OK to accept the defaults and return to the data export template.
7
To link to a merge file, click Browse in the Document to Link to field and navigate to
the file.
8
In the Output Data File field, click Browse and navigate to the file that contains the
data to export.
9
Complete the table by entering information in a row for every column in your file.
10 After you are finished building the template, select File > Save As.
11 Enter a file name and click Save.
Important
Point saves data export templates with an exp extension. Do not change
the extension. The file name cannot contain any of the following
characters:
\/:*?“<>.
Related information
For more information about field IDs, refer to Identifying fields and
field IDs, on page 97.
Point User Guide
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17
Reports
Point contains predefined report and marketing document templates that are geared
towards simplifying your business needs and increasing your bottom line. You can also
create custom templates that meet your exact specifications.
Because it is possible to design custom reports and marketing documents, you decide
both the report format and the data to include.
In this topic
• Standard reports
• Creating custom reports
• Manipulating report output
The Point report feature is comprised of two functions:
•
•
Designing report templates
Using the templates to generate reports
To view, create, and modify templates, use the Templates tab on the navigation panel. To
generate reports and marketing documents, use the Reports & Marketing tab.
The key to effective reports is the concurrent use of the tracking screens, especially loan
status tracking.
Point offers several tools for streamlining your workflow. You can use most of these tools
in both borrower and prospect files. Point helps you accomplish the following:
•
•
•
•
•
•
•
Communicate with contacts
Schedule calls and meetings
Document conversations
Track prospects
Generate a variety of reports
Generate custom letters
Prequalify borrowers with a variety of comparisons and calculations
Related information
For more information about using the tracking screens, see Loan status
tracking, on page 526.
Standard reports
The Report & Marketing template files are divided into Report files and Marketing
documents.
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Reports
Report templates
Use the predefined reports that are included in Point to track loans, report outstanding or
late documents, summarize vendor information, print mailing labels, send form letters or emails, and much more.
The following predefined reports are available in Point:
Report
Description
Banker reports
Business Analysis Summary
(Banker with Excel)
Provides important loan data and analysis tools that help
to manage your business and pipeline risk.
Funded and Not Shipped
(Banker with Excel)
Provides the shipping department with loans that have
funded but not shipped to the investor.
Loan Profit Summary (Banker
with Excel)
Provides management level profitability analysis.
Secondary Marketing Expiring
Commitments (Banker with
Excel)
Provides secondary marketing with detailed commitment
information for locks that expire within five calendar days.
Secondary Marketing Locked
Pipeline Report (Banker with
Excel)
Summarizes loan lock information and provides analysis
tools that are used to manage active locked pipelines.
Secondary Marketing New
Lock Requests (Banker with
Excel)
Provides secondary marketing with detailed rate lock
information for lock requests that have not been
confirmed by secondary marketing.
Warehouse Aging (Banker
with Excel)
Provides the shipping department and management with
detailed loan information and warehouse aging for loans
that have funded but not sold.
Warehouse Reconciliation &
Profit Summary (Banker with
Excel)
Provides execution gain/loss and warehouse expenses for
the loan. Used by management to assess the profitability
of the loan.
General reports
626
Address Labels Report
Creates address information that can be used with
Microsoft Word to create mailing labels.
Appraiser Report (Vendor)
Tracks the amount of business by a particular Appraiser
for expense control and revenue generation.
ARM Loans for Refinance
Displays the first lien ARM loans opened on or before 08/
01/2005. Use additional filters to customize the search
options.
Builder Report (Vendor)
Displays the name and address of the builder that was
used for each loan.
Business Summary Report
(with Excel)
Displays a summary of sales per loan originator, showing
the monthly and yearly trend of sales. Use additional
filters to select a specific period.
Closed and Funded Report
Tracks loans that have been closed and funded within a
given time.
Contact Information report
Displays all borrowers and prospects in the current data
folder with a call or meeting scheduled for a particular
day.
Escrow Report (Vendor)
Tracks the amount of business by a particular Escrow
company for expense control and revenue generation.
GFE Fee Report
Tracks fees from the Fees Worksheet that affect the cost
and revenue of the loan.
HMDA Report
Tracks data for the Home Mortgage Disclosure Act.
Interests Report
Generates a report based on selected interests that are
recorded in the Personal Information dialog box.
Calyx Software
Standard reports
Report
Description
Last Contact Report
Tracks contact with borrowers for follow-up items,
changes, and comments.
Late Documents report
Tracks documents that are overdue or missing. Refer to
Defining late documents, on page 58, for information
about how to establish late document criterion.
Lender Report
Tracks the amount of business by a particular lender for
expense control and revenue generation.
Lender Summary Report
Displays the following:
•
•
•
•
Lender
Loan information
Loan status
General profit generated by the loan
Loan Conditions Report
Reflects the current outstanding conditions along with
the status of the loan.
Loan Originator 1st Mortgage
Pipeline Report
Identifies and tracks “first mortgage loan” production.
Loan Originator Report
Identifies the status and loan information for loans for a
particular loan originator.
Loan Pipeline Report (with
Excel)
Displays the loan information, status, and milestones for
all loans in the pipeline.
Loan Status and Pipeline
Report (with Excel)
Identifies the current disposition of the loan including the
status action dates and tracks outstanding documents.
Loan Status Report
Identifies the current disposition of the loan including the
status action dates.
Loan Status Report (with Excel Displays the status for all loans in the pipeline (it is
2007)
displayed in Excel in Point). It is best used when viewed
with Excel 2007.
Point User Guide
Loan Summary Report
Reflects general information and status information about
the loan.
MDIA Compliance Report
Checks which loans are in and out of the MDIA 3-day
waiting period when fees can be charged and the
potential closed date of those loans.
NMLS Mortgage Call Report
Standard — 100% Broker,
Action Date
Standard — 100% Retail,
Action Date
Expanded — Filtered by
Business Channel, Action
Date
Generates a report of condition which is sent to the
Nationwide Mortgage Licensing System and Registry.
Pipeline Report
Identifies the status and comments for loans in
production from a global perspective.
Processor Pipeline Report
Identifies the status and comments for loans processed by
a particular processor.
Production Report
Displays the current loans in the pipeline and their
purpose.
Profit Report from Track
Manager
Displays information that is collected from the Track
Manager that affects the office and loan originator’s
profit and/or loss. The information in this report differs
from the Yield Spread Premium Report.
Property Address Report
Indicates the address and loan originator information that
is associated with the loan.
627
Reports
Report
Description
Rate Lock Report
Identifies the following:
•
•
•
628
Interest rate locks
Their expiration
Lender or investor with whom the rate is locked
RegulatorConnect Report
Generates a report in the RegulatorConnect Licensee
Examination File (LEF) format to be uploaded for state
examinations.
Title Report (Vendor)
Tracks the amount of business by each title company for
expense control and revenue generation.
Trailing Documents
Generates a report of the loan files in the specified data
folder with trailing documents.
Trust Account Report
Displays the debits and credits of the trust account for
each loan.
Underwriter Pipeline Report
Identifies the status and comments on loans for a
particular underwriter.
Yield Spread Premium Report
Tracks information that is collected from the Loan
Submission screen that affects the office and the loan
originator’s profit or loss.
Calyx Software
Standard reports
Generating standard reports
To generate a report by using one of the standard report templates:
Important
For accurate reports, it is important to verify that the time and date are
set correctly on your computer before you run any reports.
1
Click the Reports & Marketing tab from the navigation panel to open the Reports &
Marketing Generate Results screen.
2
Select the data folders where the data is to be obtained. Click Select All to collect
report data from all data folders.
Attention
You can retrieve data only from data folders for which you have
authorization. Therefore, if you select a data folder that you are not
authorized to access, no data is retrieved.
3
Point User Guide
Indicate the file types to include in the report by selecting any combination of the
Prospect, Borrower, and Include Co-Borrowers check boxes.
629
Reports
4
In the workspace, select the Reports button to specify the type of output, and select a
template from the dropdown list.
Note
The reports that contain “Excel” in the title are generated in a Microsoft
Excel spreadsheet. These reports display in the lower portion of the
Generate Results screen.
Click the Open in Excel button to open the report in an Excel file.
5
Use the Additional Filters button to toggle the additional filters open to specify more
options to customize the report, or close to expand the generated report.
6
Use the Originator and Processor dropdown lists to filter the search results by a
specific loan originator or loan processor.
7
In the Current Status section, select the status of the loans to include in the report, or
select All to include loans of any status.
8
To filter only loans that were in a certain status during a specific time period, select a
loan status from the Status Date dropdown list and specify a date range in date fields.
9
Click Generate.
Depending on the template settings, reports are output to the Point Report Viewer,
a separate Excel spreadsheet, or an Excel spreadsheet which is displayed in the
lower section of the Generate Results screen.
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Calyx Software
Standard reports
The following example shows the Loan Status and Pipeline (with Excel) report which
is displayed in the Generate Results screen.
Note
A report can contain a maximum of 500 rows. If your report exceeds 500
rows, a message is displayed that indicates your report has exceeded the
maximum number of rows that are allowed for a report.
10 After a report is generated you can manipulate the output depending on the output
type.
Related information
•
For more information about the different types of report output,
refer to Creating custom reports, on page 668.
•
Refer to Manipulating report output, on page 678, for details
about how to manipulate report output in the three formats.
Types of reports
The types of reports that are included Point contain predefined report and marketing
document templates that are geared towards simplifying your business needs and
increasing your bottom line. You can also create custom templates that meet your exact
specifications.
Business Analysis Summary (Banker with Excel)
The Business Summary Report contains several panels. Several viewing options are
available for the data in the report. You can access them through the buttons at the top of
the report. The viewing options are described on the following pages:
•
•
Point User Guide
Dash Board
Yearly Trend
631
Reports
•
•
•
Monthly Trend
Range Analysis
Data
Dash board
Displays all the panels of the report in graphical format.
Yearly trend
Displays a table of the loans by originator and yearly trend.
Customizing
Use the dropdown arrow to remove a year from the total data calculation or to select a
specific year for which you want to view the data.
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Calyx Software
Standard reports
Double-click one of the amount rows to display a table full of data for the name shown in
the heading.
Monthly trend
Displays a table of the loans by originator and monthly trend.
Customizing
Use the dropdown arrow to remove a year from the total data calculation or to select a
specific year for which you want to view the data.
Double-click one of the amount rows to display a table full of data for the name shown in
the heading.
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633
Reports
LO summary
Displays a table of sales figures by loan originator. By customizing any necessary data in
the table, you can then view a chart of the information by clicking the Dash Board button.
Customizing
Use the dropdown arrow to remove a loan originator from the total data calculation or to
select a specific originator for which you want to view the data.
Double-click one of the amount rows to display a table full of data for the name shown in
the heading.
(If Kathy Bakewell is shown as the originator at the top of the column and you double click
one of the rows, you receive a report of her sales for that time period:
Data
Displays a table of total and average earnings by loan originator.
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Calyx Software
Standard reports
Customizing
Use the dropdown list to remove a loan originator from the total data calculation or to
select a specific originator for which you want to view the data.
Business Summary Report (with Excel)
The Business Summary Report contains several panels. Several viewing options are
available for the data in this report. You can access them through the buttons at the top of
the report.
•
•
•
•
•
Dash Board
Yearly Trend
Monthly Trend
LO Summary
Data
The LO (Loan Originator) Summary is described here.
Contact Information report
The Contact Information report is an excellent tool for managing Prospects. If you
customize the condition builder for the Contact Date field, the generated report includes all
Prospects in the current data folder with a call or a meeting scheduled for that day.
Late Documents report
The Late Documents report is a valuable tool for ensuring that loans are timely processed.
It differs from the other standard reports because it does not automatically include every
loan in the pipeline. It lists only the loans (and their corresponding documents) that are
late.
To establish what constitutes a late document, set the Docs Due In default from Utilities >
Company Defaults > Docs Due In.
Point compares the specified number of days to the date when the various documents
were sent. If the number of days exceeds the setting, the loan is included in the Late
Documents report, which indicates how overdue each item is.
Point User Guide
635
Reports
Loan Originator Report
The LO Summary report contains a table of sales figures by loan originator. By
customizing necessary data in the table, you can view a chart of the information by
clicking the Dash Board button.
Customizing
Use the dropdown arrow in the Loan Originator field to remove a loan originator from the
total data calculation or to select a specific originator for which you want to view the data.
Double-click an amount to produce a table that contains a report that details the loan
originator’s sales for the specified time period.
Loan Pipeline Report (with Excel)
The Loan Pipeline (with Excel) displays several panels. Several viewing options are
available for the data in the report. You can access them through the buttons at the top of
the report. The viewing options are described on the following pages:
•
•
636
Pipeline Status
Detail Status
Calyx Software
Standard reports
Pipeline status
Displays an overview of loans in the pipeline. It allows you to select a single loan originator
or processor, or view a cross section of their work. You can also view the loans by status,
or check all status types.
Detail Status
Displays a detailed table of the loans in the pipeline. It is displayed alphabetically by
filename.
Loan Profit Summary (Banker with Excel)
The Loan Profit Summary Report (Banker with Excel) displays several panels. Several
viewing options are available for the data in the report. You can access them through the
buttons at the top of the report. The viewing options are described on the following pages:
•
•
•
Point User Guide
Cost and Profit Summary
Warehouse Summary
Data
637
Reports
Cost and profit summary
Displays an overview of warehouse costs, units, and any gains or losses.
Warehouse summary
Displays an overview of data for warehouse lenders, their branches, and averages of fees,
costs, etc.
Data
Displays a table of loan data that includes information such as the data folder, lender case
number, and loan amount.
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Calyx Software
Standard reports
Customizing
Use the dropdown arrow remove a warehouse lending value from the total data
calculation or to select a warehouse value for which you want to view the data.
Loan Status Report (with Excel 2007)
The Loan Status Report (with Excel2007) displays all the loans in the system by status.
The Data option is available for viewing.
Data
Displays an overview of loans in the system by status.
NMLS Mortgage Call Report
The purpose of the NMLS Mortgage Call Report is to comply with the SAFE Act which
requires mortgage licensees to submit reports of condition to the Nationwide Mortgage
Licensing System and Registry.
The data for the report is retrieved from various screens in Point. The filters used are
described in the tables later in this topic.
The NMLS Mortgage Call Report uses fields that have similar or identical names as fields
that are used for HDMA reporting. Because of these similarities, the NMLS Mortgage Call
Report utilizes many HMDA fields in Point to filter the data for the report.
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639
Reports
Six reports are available; three that are based on the status date of the loan files and three
that are based on the action date of the loan files:
•
•
•
•
•
•
NMLS Mortgage Call Report — Standard — 100% Broker
NMLS Mortgage Call Report — Standard — 100% Retail
Use the applicable report if your company is not a Fannie Mae or Freddie Mac
approved seller/servicer or Ginnie Mae issuer and you want to filter by cancelled,
denied, and closed status date. Complete the standard section (RMLA Section I)
of the NMLS Mortgage Call Report in Point for each state where your company
holds a license or registration as a broker or retailer.
NMLS Mortgage Call Report — Standard — Broker Action Date
NMLS Mortgage Call Report — Standard — Retail Action Date
Use the applicable report if your company is not a Fannie Mae or Freddie Mac
approved seller/servicer or Ginnie Mae issuer and you want to filter by action
date. Complete the standard section (RMLA Section I) of the NMLS Mortgage Call
Report in Point for each state where your company holds a license or registration
as a broker or retailer.
NMLS Mortgage Call Report — Expanded — Filtered by Business Channel
NMLS Mortgage Call Report — Expanded — Business Channel Action Date
Use the applicable report if your company is a Fannie Mae or Freddie Mac
approved seller/servicer or Ginnie Mae issuer and you want to filter by cancelled,
denied, or closed status date or action date. Complete the expanded section
(RMLA Sections I and II) of the NMLS Mortgage Call Report in Point for each
state where your company holds a license or registration.
There are three stages involved in creating the report:
1
Preparing the Point files for the report.
2
Generating the report in Point.
3
Reviewing the report in Microsoft Excel.
Requirement
Microsoft Excel 2007 or later is required to generate the NMLS Mortgage
Call Report in Point.
Preparing files for the report
Prior to running the report, prepare your loan files by ensuring the appropriate values are
entered for the fields shown in the following tables.
The data in the fields shown in the following table are used to generate Section I of the
report. Refer to RMLA Section I row filters, on page 648,for information about appropriate
values for these fields.
640
Field
Screen
Action Taken
Track > HMDA Reporting
Application Date
Track > Status
Canceled Date
Track > Status
Closed Date
Track > Status
Denied Date
Track > Status
Lien Status
Track > HMDA Reporting
Loan Type
Loan Application, page 1
Calyx Software
Standard reports
Field
Screen
NMLS #
Loan Application, page 4
Originator
Borrower Information
Property Type
Track > HMDA Reporting
Purpose of Loan
Loan Application, page 1
Purpose of Refi
Transmittal Summary
Report as a HOEPA loan
Track > HMDA Reporting
Report the purpose of this loan as Home
Improvement
Track > HMDA Reporting
The data in the fields shown in the following table are used to generate Section II of the
report. Refer to RMLA Section II row filters, on page 657, for information about appropriate
values for these fields.
Field
Screen
Action Taken
Track > HMDA Reporting
Action Date
Track > HMDA Reporting
Advance Date
Banker > Warehouse & Purchase Advice
Advance Repaid
Banker > Warehouse & Purchase Advice
Amortization Type
Loan Application, page 1
Business Channel
Track > Registration & Rate Lock
CLTV
Borrower Information
Conforming Loan
eLoan File > Loan Product
Documentation Type
eLoan File > Loan Product
FAS 140 Sale Treatment
Track > RegulatorConnect
HELOC
Track > RegulatorConnect
Interest Only
Truth-In-Lending
Investment
Transmittal Summary
Lien Position
Loan Application, page 1
Loan Type
Loan Application, page 1
LTV
Borrower Information
Negative Amortization Program Type
Track > RegulatorConnect
Note Rate
Borrower Information
Prepayment penalty options
Truth-In-Lending
Prime
Track > RegulatorConnect
Property Type
Track > HMDA Reporting
Purpose of Loan
Loan Application, page 1
Purpose of Refi
Transmittal Summary
Qualifying Score
Underwriting
Transfer Type
Banker > Recording
Type of Purchaser
Track > HMDA Reporting
Up-Front PMI Financed
PMI/MIP/FF/USDA
In addition, decide which fees are pass-through fees and which fees are retained by you.
Then consistently apply that decision for every loan.
Point User Guide
641
Reports
Generating the report
To generate the NMLS Mortgage Call Report:
1
Click the Reports & Marketing tab from the navigation panel to open the Reports &
Marketing Generate Results screen.
2
Select the data folders where the data is to be obtained. To collect report data from all
data folders, click Select All.
Attention
You can retrieve data only from data folders for which you have
authorization. Therefore, if you select a data folder that you are not
authorized to access, no data is retrieved.
3
Select only the Borrower check box to indicate the file type to include in the report.
4
In the workspace, select the Reports button to specify the type of output and select
one of the NMLS Call Report templates from the dropdown list.
Choose the report that best fits your business:
•
•
642
NMLS Mortgage Call Report — Standard — 100% Broker
NMLS Mortgage Call Report — Standard — 100% Retail
If 100% of your loans are originated as a broker or a retail lender and you are not
a Fannie Mae or Freddie Mac approved seller/servicer or Ginnie Mae issuer and
you want to filter by cancelled, denied, and closed date.
Calyx Software
Standard reports
•
•
•
•
NMLS Mortgage Call Report — Standard — Broker Action Date
NMLS Mortgage Call Report — Standard — Retail Action Date
If your loans are originated as a broker or retail lender and you are not a Fannie
Mae or Freddie Mac approved seller/servicer or Ginnie Mae issuer and you want
to filter by action date.
NMLS Mortgage Call Report — Expanded — filtered by Business Channel
NMLS Mortgage Call Report — Expanded — Business Channel Action Date
If you have multiple origination channels or if you are a Fannie Mae or Freddie
Mac approved seller/servicer or Ginnie Mae issuer and you want to filter by action
date.
5
Leave the Originator and Processor fields blank. Although you can optionally set these
values, it is not recommended because the report must contain data for your entire
organization.
6
Accept the default selection of All in the Current Status section to ensure all of the
correct data is returned in the report.
7
Filter the report results by the state in which you do business. Select Equal to from the
Condition dropdown list in the Subject Property State row and select the state
abbreviation from the Value 1 column.
Important
If you do business in more than one state, you must run a separate report
for each state.
8
Accept the default selection, Report Period, for the Status Date field for all NMLS
reports.
Using the reporting period dates will filter for loans that were active at some time
during the reporting period. If a loan status of Application, Sent to Processing, HMDA
Complete, Submitted, Approved, Suspended, Re-submitted, Clear To Close, Docs
Drawn, Docs Out, or Closed has a date during the reporting period, it will be extracted
for this report.
Warning
Do not change the Status Date value. If you change the Status Date to a
different value, the result will not return the correct loans for the report.
Point User Guide
643
Reports
9
Enter the start date and end date of the reporting period in the date fields provided.
Requirement
You must enter valid dates or the report will not run.
10 Click Generate.
The report is output to a separate Microsoft Excel spreadsheet.
Reviewing the report output
After the report is generated, review the spreadsheet for errors.
The NMLS Mortgage Call Report — Standard — 100% Broker, 100% Retail, and Broker
and Retailer Action Date reports contain the following tabs:
•
•
RMLA — Section I tab
Refer to RMLA Section I row filters, on page 648, for a description of the fields
that are used to calculate each row.
Data
Contains a breakdown of the data, by loan, that is used to generate the report.
Use the information in this tab to troubleshoot problems with the report results.
Refer to the figure later in this topic for an example of the information in the Data
tab.
In addition to the RMLA Section I and Data tab, the NMLS Mortgage Call Report —
Expanded — Filtered by Business Channel and Business Channel Action Date reports
contain the following tabs:
•
•
RMLA — Section II
Refer to RMLA Section II row filters, on page 657, for a description of the fields
that are used to calculate each row.
Calculations
Contains additional calculations based on data in the Data tab.
The following figures show the RMLA Section I tab.
The Amount column in the Application Data section of RMLA Section I uses the Loan
Amount field on the Borrower Information screen to aggregate data for all
spreadsheets.The top portion of the report shows the report data, line by line by dollar
amount and loan count.
The Amount column in the Closed Loan Data section of RMLA Section I uses the w/ MIP,
FF field on the Borrower Information screen, which includes the loan amount and the
mortgage insurance premium and funding fees, to aggregate data for all spreadsheets.
For Broker reports, the Directly Received from Borrower and Brokered sections are
populated. For Retail reports, the Directly Received from Borrower and Closed-Retail
644
Calyx Software
Standard reports
Application sections are populated. For Business Channel reports, the Received from 3rd
Party and Closed-Wholesale Application sections are populated.
The lower portion of the report is used to exclude pass-through fees (i.e., fees that are
not retained by you) from the Fees information field on the Call Report. Because every
business is different, this section gives you the opportunity to dictate which fees are
pass-through fees and which ones are not. To exclude a fee from the Fees information
field on the NMLS Mortgage Call Report, enter an X in the Exclude field below the fee
name and field ID directly on the report.
By default, the Adjusted Origination Charges (GFE blocks 1 and 2) are included as fees
you collected. If certain line items were pass-through fees that are not retained by your
company, you can indicate the exclusions to apply.
1
Exclude any pass-through fees from the report by entering an X in the Exclude field
below the fee name and field ID on the report.
2
Enter the number and the dollar amount of loans repurchased in the Loans Made and
Assigned but Required to Repurchase in Period field.
Point User Guide
645
Reports
3
Validate the loan data extract in the Data tab. Missing or incorrect data will lead to
incorrect numbers being calculated on the RMLA tabs.
Important
Before going into a detailed description of RMLA Section tabs, it is
important to review your extracted data in the Data tab.
The following figures show a partial example of the Data tab in the report results.
646
Calyx Software
Standard reports
Some common fields to review are:
4
•
•
•
•
•
•
•
•
•
Action Taken (for files no longer active)
Application Date
Business Channel (if you have multiple origination channels)
Closed Date (for closed loans)
HMDA Lien Status
HMDA Property Type
Loan Amount
Loan Originator
NMLS Number
a
Locate incorrect or missing data.
b
Open the corresponding Point files and make the corrections.
c
Regenerate the report.
d
Review the report again.
Verify that all active loans during the reporting period were extracted for the report.
The following figure shows the fields that are not included in the Point RMLA Section I
report:
Point User Guide
647
Reports
The following table shows the row filters used in RMLA Section I:
Table 1. RMLA Section I row filters
Report
Point
Section
Row
Filter criteria
Application Data
Applications in Process at the
Beginning of the Period
Loans that have a date in the Application Date
field on the Track > Status screen prior to
the period start date that also have a status
date (up to and including closed status) either
during the report period or after the report
period. This will show that the application was
in progress prior to the report period, and it
was an active loan that should be counted.
Applications Received
Loans that have a date in the Application Date
field on the Track > Status screen equal to
or after the specified start date and is before
or equal to the reporting period end date.
Applications Approved but not
Accepted
Loans that have App approved but not accepted
by applicant selected from the Action Taken
dropdown list on the Track > HMDA
Reporting screen and the Cancelled Status
Date on the Track > Status screen is before
or equal to the report period end date.
*For reports with Action Date in the title:
Loans that have App approved but not accepted
by applicant selected from the Action Taken
dropdown list on the Track > HMDA
Reporting screen and the Action Date on the
Track > HMDA Reporting screen is between
or equal to the report period start and end
dates.
Applications Denied
Loans that have Application denied selected
from the Action Taken dropdown list on the
Track > HMDA Reporting screen and the
Denied Status Date on the Track > Status
screen is before or equal to the report period
end date.
*For reports with Action Date in the title:
Loans that have Application denied selected
from the Action Taken dropdown list on the
Track > HMDA Reporting screen and the
Action Date on the Track > HMDA
Reporting screen is between or equal to the
report period start and end dates.
Applications Withdrawn
Loans that have Application withdrawn selected
from the Action Taken dropdown list on the
Track > HMDA Reporting screen and the
Cancelled Status Date on the Track > Status
screen is before or equal to the report period
end date.
*For reports with Action Date in the title:
Loans that have Application withdrawn selected
from the Action Taken dropdown list on the
Track > HMDA Reporting screen and the
Action Date on the Track > HMDA
Reporting screen is between or equal to the
report period start and end dates.
648
Calyx Software
Standard reports
Table 1. RMLA Section I row filters (Continued)
Report
Section
Point
Row
Filter criteria
File closed for incompleteness
Loans that have File closed for incompleteness
selected from the Action Taken dropdown list
on the Track > HMDA Reporting screen
and the Cancelled Status Date on the Track >
Status screen is before or equal to the report
period end date.
*For reports with Action Date in the title:
Loans that have File closed for incompleteness
selected from the Action Taken dropdown list
on the Track > HMDA Reporting screen
and the Action Date on the Track > HMDA
Reporting screen is between or equal to the
report period start and end dates.
Pre-Approval Requests Denied
Loans that have Preapproval request denied by
financial institution selected from the Action
Taken dropdown list on the Track > HMDA
Reporting screen and the Denied Status Date
on the Track > Status screen is before or
equal to the report period end date.
*For reports with Action Date in the title:
Loans that have Preapproval request denied by
financial institution selected from the Action
Taken dropdown list on the Track > HMDA
Reporting screen and the Action Date on the
Track > HMDA Reporting screen is between
or equal to the report period start and end
dates.
Pre-Approval Requests Approved
but not Accepted
Loans that have Preapproval request approved
but not accepted selected from the Action Taken
dropdown list on the Track > HMDA
Reporting screen and the Cancelled Status
Date on the Track > Status screen is before
or equal to the report period end date.
*For reports with Action Date in the title:
Loans that have Preapproval request approved
but not accepted selected from the Action Taken
dropdown list on the Track > HMDA
Reporting screen and the Action Date on the
Track > HMDA Reporting screen is between
or equal to the report period start and end
dates.
Loans Closed and Funded
Loans that have Loan originated selected from
the Action Taken dropdown list on the Track
> HMDA Reporting screen and the Closed
Status Date on the Track > Status screen is
before or equal to the report period end date.
*For reports with Action Date in the title:
Loans that have Loan originated selected from
the Action Taken dropdown list on the Track
> HMDA Reporting screen and the Action
Date on the Track > HMDA Reporting
screen is between or equal to the report period
start and end dates.
Point User Guide
649
Reports
Table 1. RMLA Section I row filters (Continued)
Report
Section
Closed Loan Data – Loan
Type
Point
Row
Filter criteria
Applications in Process at the End
of the Period
Add Applications in Process at the beginning
of the period and the Applications received,
then subtract the sum of Applications
Approved but not accepted, Applications
Denied, Applications Withdrawn, Files Closed
for Incompleteness, Pre-Approval Requests
Denied, Pre-Approval Requests Approved but
not Accepted, and Loans Closed and Funded.
Conventional
Loans that have Conventional selected as the
Loan Type on page 1 of the Loan
Application and that have a Closed Date that
is before or equal to the reporting period end
date.
FHA-Insured
Loans that have FHA selected as the Loan
Type on page 1 of the Loan Application and
that have a Closed Date that is before or equal
to the reporting period end date.
Closed Loan Data –
Property Type
650
VA-Guaranteed
Loans that have VA selected as the Loan Type
on page 1 of the Loan Application and that
have a Closed Date that is before or equal to
the reporting period end date.
FSA-RHS-Guaranteed
Loans that have USDA/RHS selected as the
Loan Type on page 1 of the Loan
Application and that have a Closed Date that
is before or equal to the reporting period end
date.
Total Loan Type - Forward
Mortgages
Add Conventional, FHA-Insured, VAguaranteed, and FSA-RHS-guaranteed.
One to Four Family Dwelling
Loans that have 1-4 family (other than
manufactured housing) selected from the
Property Type dropdown list on the Track >
HMDA Reporting screen and that have a
Closed Date that is before or equal to the
reporting period end date. In the Data tab in
the report, this field is represented in the
HMDA Property Type column as a 1.
Manufactured Housing
Loans that have Manufactured Housing selected
from the Property Type dropdown list on the
Track > HMDA Reporting screen and that
have a Closed Date that is before or equal to
the reporting period end date. In the Data tab
in the report, this field is represented in the
HMDA Property Type column as a 2.
Multifamily Dwelling
Loans that have Multifamily selected from the
Property Type dropdown list on the Track >
HMDA Reporting screen and that have a
Closed Date that is before or equal to the
reporting period end date. In the Data tab in
the report, this field is represented HMDA
Property Type column as a 3.
Total Property Type
Add One to Four Family Dwelling,
Manufactured Housing, and Multifamily
Dwelling.
Calyx Software
Standard reports
Table 1. RMLA Section I row filters (Continued)
Report
Point
Section
Row
Filter criteria
Closed Loan Data –
Purpose of Loan or
Application
Home Purchase
Loans that have Purchase selected as the
Purpose of Loan on page 1 of the Loan
Application and that have a Closed Date that
is before or equal to the reporting period end
date and subtracts all loans that have the
Report the Purpose of this loan as Home
Improvement check box selected on the
Track > HMDA Reporting screen and that
have Purchase selected as the Purpose of
Loan. These loans are removed to prevent
double counting as all home improvement
loans are reported in the next line. In the Data
tab in the report, this field is represented in the
Purpose of Loan column as Purch.
Home Improvement
Loans that have the Report the Purpose of this
loan as Home Improvement check box
selected on the Track > HMDA Reporting
screen and that have a Closed Date that is
before or equal to the reporting period end
date.
The reason that Cash-out/Home Improvement
from the Purpose of Refi is not used is because
Fannie Mae and Freddie Mac have different
standards for this item, therefore, this might
not be marked on a loan based on the
Investor. Instead, the field on the Track >
HMDA Reporting screen is used.
Closed Loan Data – Lien
Status
Point User Guide
Refinancing
Loans that have No Cash-Out Refi selected as
the Purpose of Loan on page 1 of the Loan
Application and that have a Closed Date that
is before or equal to the reporting period end
date, plus loans that have Cash-Out Refi
selected as Purpose of Loan, and subtracts the
Home Improvements loan amounts that have
Cash-Out Refi or No Cash-Out Refi selected as
Purpose of Loan. These loans are removed to
prevent double counting as all home
improvement loans are reported in the
previous line. In the Data tab in the report, this
calculation is represented in the Purpose of
Loan column as Refi-Cash Out or Refi-No Cash
Out.
Total Purpose of Loan or
Application
Add Home Purchase, Home Improvement, and
Refinancing.
HOEPA
Loans that have the Report as a HOEPA loan
check box on the Track > HMDA Reporting
screen selected and that have a Closed Date
that is before or equal to the reporting period
end date.
First Lien
Loans that have First Lien selected from the
Lien Status dropdown list on the Track >
HMDA Reporting screen and that have a
Closed Date that is before or equal to the
reporting period end date. First Lien is
represented in the Data tab in the HMDA Lien
Status column in the report as a 1.
651
Reports
Table 1. RMLA Section I row filters (Continued)
Report
Section
Row
Filter criteria
Subordinate Lien
Loans that have Subordinate Lien selected from
the Lien Status dropdown list and that have a
Closed Date that is before or equal to the
reporting period end date. Subordinate Lien is
represented in the Data tab in the HMDA Lien
Status column in the report as a 2.
Not Secured by Lien
Loans that have Not Secured by a Lien selected
from the Lien Status dropdown list and that
have a Closed Date that is before or equal to
the reporting period end date. This option is
represented in the Data tab in the HMDA Lien
Status column in the report as a 3.
Total Lien Status
Add First Lien, Subordinate Lien, and Not
Secured by Lien.
Broker Fees Collected – Forward
Mortgages
Aggregate all loans that have a Closed Date
that is before or equal to the reporting period
end date and that have an Action Taken of
Loan Originated. To exclude pass-through fees,
enter an X in the corresponding field on the
bottom of RMLA Section I of the report. Refer
to Reviewing the report output, on
page 644 for more information about
excluding fees.
Lender Fees Collected – Forward
Mortgages
Aggregate the fees associated with loans that
have a Closed Date that is before or equal to
the reporting period end date and that have
an Action Taken of Loan Originated. Instead of
using the Loan Amount, use the sum of all fees
on Blocks 1 and 2 of the Fees Worksheet
and exclude pass-through fees by entering an
X in the corresponding field on the bottom of
RMLA Section I of the report. Refer to
Reviewing the report output, on page 644
for more information about excluding fees.
Total Loans Brokered by your
Company
Loans that have a Closed Date that is before or
equal to the reporting period end date and
that have an Action Taken of Loan Originated.
Total Loans Funded by your
Company
Loans that have a Closed Date that is before or
equal to the reporting period end date and
that have an Action Taken of Loan Originated.
Closed Loan Data –
Repurchase Information
Loans Made and Assigned but
Required to Repurchase in Period
This is a manual-entry field. Enter the number
and the dollar amount of loans repurchased.
Revenue Data
Gross Revenue from Operations
Loans that have Brokered selected as the
Business Channel on the Banker and the
Track > Loan Profit/Loss screens use the
value that is calculated in the Total Revenue
field in the Brokered Loan section on the
Track > Loan Profit/Loss screen. All other
Business Channel selections use the value that
is calculated in the Total Revenue field on the
Banked Loan section of the Track > Loan
Profit/Loss screen.
Closed Loan Data – Fee
Information
Closed Loan Data –
Forward and Reverse
Mortgage Loans
652
Point
Calyx Software
Standard reports
Table 1. RMLA Section I row filters (Continued)
Report
Point
Section
Row
Filter criteria
Mortgage Loan Originator
Data
Employee Name
Pull individual names from the Originator
dropdown list on the Borrower
Information screen and list. Sequence is
determined by NMLS ID.
Employee Name Amount
Loan amounts that are for a specific NMLS ID
from page 4 of the Loan Application and
have Loan Originated as the Action Taken and
that have a Closed Date that is before or equal
to the reporting period end date.
MLO NMLS ID
Lists the NMLS # that is on page 4 of the Loan
Application. Order is determined by Loan ID.
The Loan ID is not listed on the report but is
located on the Data tab. To re-sort the data,
use the Excel sort function on the Data tab.
Note: use care in manipulating data (including
sorting) on the Data tab as this might affect
the output of your report.
Point User Guide
653
Reports
The following figures show the RMLA Section II tab:
654
Calyx Software
Standard reports
Point User Guide
655
Reports
RMLA Section II row filters shows the row filters used for RMLA Section II. All loan
amounts and counts for construction loans that are marked as First Lien on page 1 of the
Loan Application and 1-4 unit family housing on the Track > HMDA Reporting
screen are subtracted for that row filter. The reason is that all Construction Loans are
counted on a different row in the Other Mortgages Section. This method prevents double
counting of these types of loans in two separate categories. For example, if the loan was
marked as Construction, a first lien, a fixed rate amortization, and an FHA loan type, the
UPB and the count would be subtracted from the row that includes all government loans
that are first lien and a fixed rate amortization. The UPB column uses the Principal Balance
field on the Banker > Shipping screen.
656
Calyx Software
Standard reports
All loans aggregated in RMLA Section II must have a Closed Loan Status on the Track >
Status screen that is before or equal to the report period end date.
Table 2. RMLA Section II row filters
Report
Point
Section
Row
Filter criteria
Residential First
Mortgages (1-4 Unit
Residential ONLY)
Government (FHA/VA/RHS) Fixed
Loans that have Fixed Rate selected as the
Amortization Type and have FHA, VA, or
USDA/RHS selected as the Loan Type on
page 1 of the Loan Application.
Government (FHA/VA/RHS) ARM
Loans that have ARM selected as the
Amortization Type, have FHA, VA, or USDA/
RHS selected as the Loan Type on page 1 of
the Loan Application.
Prime Conforming Fixed
Loans that have Fixed Rate selected as the
Amortization Type on page 1 of the Loan
Application, Conforming Loan selected on
the eLoan File > Loan Product screen,
Prime selected on the Track >
RegulatorConnect screen and subtracts all
Prime Conforming Fixed Government Loans.
Prime Conforming ARM
Loans that have ARM selected as the
Amortization Type on page 1 of the Loan
Application, Conforming Loan selected on
the eLoanFile > Loan Product screen,
Prime selected on the Track >
RegulatorConnect screen and subtracts all
Prime Conforming ARM loans.
Prime Non-Conforming Fixed
Loans that have Fixed Rate selected as the
Amortization Type on page 1 of the Loan
Application, Prime selected on the Track >
RegulatorConnect screen and subtracts all
Prime Conforming Fixed loans.
Prime Non-Conforming ARM
Other Fixed
Loans that have ARM selected as the
Amortization Type on page 1 of the Loan
Application, Prime selected on the Track >
RegulatorConnect screen and subtracts all
Prime Conforming ARM loans.
Loans that have Fixed Rate selected as the
Amortization Type on page 1 of the Loan
Application and subtracts all Prime loans and
all Government loans.
Other Mortgages
Point User Guide
Other ARM
Loans that have ARM selected as the
Amortization Type on page 1 of the Loan
Application and subtracts all Prime loans and
all Government loans.
Total Residential First Mortgages
Sum of all rows in this section.
Closed-End Second Mortgages
Loans that specify Second as the Lien Position
on page 1 of the Loan Application and
subtracts any Second mortgages that were
also marked as HELOC, Construction,
Construction Permanent, or Multifamily
loans. These loans are removed to prevent
double counting as they are reported in other
rows.
Funded HELOCs
Loans that have HELOC selected as the loan
type on the Track > Regulator Connect
screen.
657
Reports
Table 2. RMLA Section II row filters (Continued)
Report
Section
Point
Row
Filter criteria
Construction and Land
Development Loans, 1-4 Unit
Residential
Loans that specify Construction or
Construction—Construction Permanent as
the Purpose of Loan on page 1 of the Loan
Application and specify 1-4 family (other than
manufactured housing) as the Property Type on
the Track > HMDA Reporting screen.
Multifamily Dwelling
Loans that specify Multifamily as the Property
Type on the Track > HMDA Reporting
screen.
Other Mortgage Loans
Sum of all loans and subtracts all Residential
First Mortgages, all Closed-End Second
Mortgages, all Construction and Land
Development, 1-4 Residential Mortgages, and
all Multifamily Dwelling Mortgages.
Total Other Mortgages
Sum of all the rows for Other Mortgages
including the rows that do not have data in
them provided by Point.
Total Mortgages Originated
Sum of Total Residential First Mortgage and
Total Other Mortgages.
Retail
Loans that have Retail or Brokered selected as
the Business Channel on the Track >
Registration & Rate Lock screen.
Wholesale Correspondent
Loans that have Correspondent selected as the
Business Channel on the Track >
Registration & Rate Lock screen.
Wholesale Broker
Loans that have Wholesale selected as the
Business Channel on the Track >
Registration & Rate Lock screen.
Total Residential First Mortgages
Add Retail, Wholesale Correspondent, and
Wholesale Broker. Must equal the Residential
First Mortgages total.
Fixed Rate
Loans that have Fixed Rate selected as the
Amortization Type on page 1 of the Loan
Application.
ARM
Loans that have ARM selected as the
Amortization Type on page 1 of the Loan
Application.
Total Residential First Mortgages
Add Fixed Rate and ARMs. Must equal the
Residential First Mortgages total.
Jumbo
Loans where Conforming is not selected on
the eLoan File > Loan Product screen.
Non-Jumbo
Loans where Conforming is selected on the
eLoan File > Loan Product screen.
658
Total Residential First Mortgages
Add Jumbo and Non-Jumbo Loans. Must
equal the Residential First Mortgages total.
Alt Doc
Loans that do not have Full selected from the
Documentation Type dropdown list on the
eLoan File > Loan Product screen.
Full Doc
Loans that have Full selected from the
Documentation Type dropdown list on the
eLoan File > Loan Product screen.
Total Residential First Mortgages
Add Alt Doc and Full Doc Loans. Must equal
the Residential First Mortgages total.
Calyx Software
Standard reports
Table 2. RMLA Section II row filters (Continued)
Report
Section
Point
Row
Filter criteria
Interest Only
Loans that contain a value in the Interest Only
field in the Truth-In-Lending screen.
Non-Interest Only
Loans that do not contain a value in the
Interest Only field in the Truth-In-Lending
screen.
Total Residential First Mortgages
Add Interest Only and Non-Interest Only loans.
Must equal the Residential First Mortgages
total.
Option ARMs
Loans that have a Negative Amortization
Program Type option selected on the Track >
RegulatorConnect screen with a value
greater than 0.
Non-Option ARMs
Loans that have a Negative Amortization
Program Type option selected on the Track >
RegulatorConnect screen with a value of 0.
Total Residential First Mortgages
Add Option ARMs and Non Option ARMs.
Must equal the Residential First Mortgages
total.
Loans with Prepayment Penalties
Loans with the may have to pay a prepayment
penalty check box selected on the Truth-InLending screen.
Loans without Prepayment
Penalties
Loans with the will not have to pay a
prepayment penalty check box selected on the
Truth-In-Lending screen.
Point User Guide
Total Residential First Mortgages
Add Loans with prepayment penalties and
loans without prepayment penalties. Must
equal the Residential First Mortgages total.
Purchase
Loans with the Purchase option selected as
the Purpose of Loan on page 1 of the Loan
Application.
Refinance Rate-Term
Loans with the No Cash-Out Refi option
selected as the Purpose of Loan on page 1 of
the Loan Application.
Refinance Cash-Out Refinances
Loans with the No Cash-Out Refi option
selected as the Purpose of Loan on page 1 of
the Loan Application and subtract Refinance
Restructure and Refinance Other/Unknown.
These loans are removed to prevent double
counting as they are reported in other rows.
Refinance Restructure
Loans with the Cash-Out Refi option selected
as the Purpose of Loan on page 1 of the Loan
Application and Limited Cash Out Rate/Term
selected as the Purpose of Refi on the
Transmittal Summary.
Refinance Other/Unknown
Loans with the Cash-Out Refi option selected
as the Purpose of Loan on page 1 of the Loan
Application and Cash-Out/Other selected as
the Purpose of Refi on the Transmittal
Summary.
Total Residential First Mortgages
Add Purchase, Refinance Rate-Term, Refinance
Cash-Out Refinances, Refinance Restructure,
and Refinance Other/Unknown. Must equal
the Residential First Mortgages total.
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Reports
Table 2. RMLA Section II row filters (Continued)
Report
Section
Point
Row
Filter criteria
Owner-Occupied
Loans with the Investment option not selected
as the Loan Type on the Transmittal
Summary.
Non-Owner Occupied
Loans with the Investment option selected as
the Loan Type on the Transmittal
Summary.
Total Residential First Mortgages
Add Owner-Occupied and Non-Owner
Occupied. Must equal the Residential First
Mortgages total.
Loans with Private Mortgage
Insurance
Loans with a value in the Up-Front PMI
Financed field on the PMI/MIP/FF/USDA
dialog box and the Conventional or Other
option is selected as the Loan Type on page 1
of the Loan Application.
Loans without Private Mortgage
Insurance
Loans with a value in the Up-Front PMI
Financed field on the PMI/MIP/FF/USDA
dialog box and the FHA, VA, or USDA/RHS
option is selected as the Loan Type on page 1
of the Loan Application plus loans without a
value in the Up-Front PMI Financed field on
the PMI/MIP/FF/USDA dialog box.
First Mortgage Borrower's
FICO Score Distribution
Total Residential First Mortgages
Add Loans with Private Mortgage Insurance
and Loans without Private Mortgage
Insurance. Must equal the Residential First
Mortgages total.
Loans with Piggyback Seconds or
Funded HELOCs
Loans with a linked second mortgage. or
marked as a HELOC. HELOCs that are marked
as subordinate liens are not counted.
Loans without Piggyback Seconds
or Funded HELOCs
Loans without a linked second mortgage.
Total Residential First Mortgages
Add Loans with Piggyback Seconds or Funded
HELOCs and loans without Piggyback Seconds
or Funded HELOCs. Must equal the Residential
First Mortgages total.
Equal 600 or less
Loans with a Qualifying Score on the
Underwriting screen equal to or less than
600.
Greater than 600 but less than or
equal to 650
Loans with a Qualifying Score on the
Underwriting screen of greater than 600 but
less than or equal to 650.
Greater than 650 but less than or
equal to 700
Greater than 700 but less than or
equal to 750
Loans with a Qualifying Score on the
Underwriting screen of greater than 650 but
less than or equal to 700.
Loans with a Qualifying Score on the
Underwriting screen of greater than 700 but
less than or equal to 750.
660
Greater than 750
Loans with a Qualifying Score on the
Underwriting screen of greater than 750.
Total Residential First Mortgages
Add loans with a Qualifying Score on the
Underwriting screen.
Average FICO Score for First
Mortgage Borrowers
Add all loans with a Qualifying Score on the
Underwriting screen and divide by the
number of loans with a Qualifying Score.
Calyx Software
Standard reports
Table 2. RMLA Section II row filters (Continued)
Report
Section
Row
Average FICO Score for Second
and HELOC Mortgage
Point
Filter criteria
Add all loans with a Qualifying Score on the
Underwriting screen that specify Second as
the Lien Position on page 1 of the Loan
Application with all loans that have the
HELOC check box selected on the
RegulatorConnect screen and divide by the
number of loans with a Qualifying Score and
Lien Position of Second plus loans that are
HELOC that have a Lien Position of Second.
First Mortgage Loan-toValue (LTV) Distribution
Equals 60% or less
Loans with a value of 60 or less in the LTV field
in the Borrower Information screen.
Greater than 60% but less than or Loans with a value greater than 60 but less
equal to 70%
than or equal to 70 in the LTV field in the
Borrower Information screen.
Greater than 70% but less than or Loans with a value greater than 70 but less
equal to 80%
than or equal to 80 in the LTV field in the
Borrower Information screen.
Greater than 80% but less than or Loans with a value greater than 80 but less
equal to 90%
than or equal to 90 in the LTV field in the
Borrower Information screen.
Greater than 90% but less than or Loans with a value greater than 90 but less
equal to 100%
than or equal to 100 in the LTV field in the
Borrower Information screen.
Greater than 100%
Loans with a value greater than 100 in the LTV
field in the Borrower Information.
Weighted Average LTV on First
Mortgages Only
Sum the product of the value in the LTV and
Loan Amount fields in the Borrower
Information screen divided by the sum of all
Loan Amount values. The product comes from
the Calculations tab. Since the LTV is
represented as a whole number in Point, this
number is divided by 100 to convert it to a
percentage.
Weighted Average CLTV
Combined First and Second
Mortgages
Sum the product of the value in the CLTV and
Loan Amount fields in the Borrower
Information screen for all loans that specify
First or Second as the Lien Position divided by
the sum of all Loan Amount values for all loans
that specify First or Second as the Lien
Position.The product comes from the
Calculations tab. Since the CLTV is
represented as a whole number in Point,
instead of a percentage, this number is divided
by 100 to convert it to a percentage.
Weighted Average Coupon at
Origination on First Mortgages
Only
Point User Guide
Sum the product of the Note Rate and the
Loan Amount fields on the Borrower
Information screen and divide this by the
sum of all Loan Amount values. The product
comes from the Calculations tab. Since the
note is represented as a whole number in Point
instead of a percentage, this number is divided
by 100 to convert it to a percentage.
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Table 2. RMLA Section II row filters (Continued)
Report
662
Point
Section
Row
Filter criteria
First Mortgage Residential
Loans Sold by Investor
Type
Production Sold to Secondary
Market Agencies (Fannie, Freddie,
Ginnie)
Loans with Fannie Mae, Freddie Mac, or Ginnie
Mae selected as the Type of Purchaser on the
Track > HMDA Reporting screen.
Production Sold to Others (NonAffiliate)
Loans with Other type of purchaser selected as
the Type of Purchaser on the Track > HMDA
Reporting screen and subtracts loans where
the Transfer Type selected on the Banker >
Recording screen is Servicing Rights (Flow),
Servicing Rights (Selected), or TOS/TOB. These
loans are removed to prevent double-counting
as they are reported in other rows.
Production Sold to Others
(Affiliate)
Loans with Affiliate institution, Commercial
bank, savings bank or savings association, or Life
ins. co, credit union, mortgage bank, finance co
selected as the Type of Purchaser on the
Track > HMDA Reporting screen and
subtracts loans where the Transfer Type
selected on the Banker > Recording screen
is Servicing Rights (Flow), Servicing Rights
(Selected), or TOS/TOB.
Production Kept in Portfolio/Held
for Investment
Loans with Loan was not originated or was not
sold selected as the Type of Purchaser on the
Track > HMDA Reporting screen.
Production Sold through NonAgency Securitizations with Sale
Treatment
Loans with Private Securitization selected as
the Type of Purchaser on the Track > HMDA
Reporting screen and the FAS 140 Sale
Treatment check box on the Track >
RegulatorConnect screen is not selected.
Production Sold through NonAgency Securitizations without
Sale Treatment
Loans with Private Securitization selected as
the Type of Purchaser on the Track > HMDA
Reporting screen and the FAS 140 Sale
Treatment check box on the Track >
RegulatorConnect screen is not selected.
Production Sold Servicing
Released
Loans with Servicing Rights (Flow), Servicing
Rights (Seasoned), or TOS/TOB selected as the
Transfer Type on the Banker > Recording
screen.
Production Brokered Out
Loans that have Brokered selected as the
Business Channel on the Track >
Registration & Rate Lock screen.
Fall-Out Ratio
All loans that have Loan Originated as the
Action Taken on the Track > HMDA
Reporting screen divided by all loans that
have an Action Taken of App approved but not
accepted by applicant, Application denied,
Application withdrawn, or File closed for
incompleteness, or Loan Originated.
Total Multifamily Commercial
Loans sold this period
Any loan with a purchase date in the report
period that has Multifamily selected as the
Property Type in the Track > HMDA
Reporting screen
Calyx Software
Standard reports
Table 2. RMLA Section II row filters (Continued)
Report
Point
Section
Row
Filter criteria
Warehouse Period
Average Days in Warehouse1-4
Unit Residential
Subtract the Advance Date from the Advance
Repaid date on the Banker > Warehouse &
Purchase Advice for each loan that has a
date in both fields and has 1-4 family (other
than manufactured housing) selected as Property
Type on the Track > HMDA Reporting
screen. Average these differences. The
difference between dates comes from the
Calculations tab.
Average Days in Warehouse
Multifamily loans
Subtract the Advance Date from the Advance
Repaid date on the Banker > Warehouse &
Purchase Advice for each loan that has a
date in both fields has Multifamily selected as
the Property Type on the Track > HMDA
Reporting. Average these differences. The
difference between dates comes from the
Calculations tab
Production Warehoused in Excess
of 90 Days as of Period End1-4
Unit Residential Mortgages Only
Sum the difference between the Advance Date
and Advance Repaid date on the Banker >
Warehouse & Purchase Advice if the
difference between these dates is greater than
90 days and if the loan has an advance repaid
date. This difference is calculated on the
Calculations tab.
RegulatorConnect Report
The Point RegulatorConnect report exports data in the RegulatorConnect Licensee
Examination File (LEF) format so you can upload your loan data for state examinations.
During the export process, an encrypted file is generated which is later submitted to
RegulatorConnect by using the RegulatorConnect reporting process.
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663
Reports
To generate a RegulatorConnect report:
1
Click the Reports & Marketing tab from the navigation panel to open the Reports &
Marketing Generate Results screen.
2
Based on report criteria that is specified by the examiners, select the data folders
where the data is to be obtained. To collect report data from all data folders, click
Select All.
Attention
You can retrieve data only from data folders for which you have
authorization. Therefore, if you select a data folder that you are not
authorized to access, no data is retrieved.
664
3
Select only the Borrower check box to indicate the file type to include in the report.
4
In the workspace, select Reports to specify the type of output.
5
Select RegulatorConnect Report from the dropdown list.
Calyx Software
Standard reports
6
Leave the Originator and Processor fields blank.
7
Filter the report results by the state in which you do business. Enter the state
abbreviation in the Value 1 column.
Important
If you do business in more than one state, you must run a separate report
for each state.
8
Select the Status Date and enter the date range based on the criteria specified by the
report examiners.
9
Click Generate.
The Browse for Folder dialog box is displayed which prompts you to navigate to the
location where you want to save the RegulatorConnect Licensee Examination File
(LEF) file.
The RegulatorConnect Report Loan List Preview window is also displayed.
10 Review the files in the RegulatorConnect Report Loan List Preview window and
close the window.
11 Make changes to any loan files if needed and re-run the report if necessary.
12 In the Browse for Folder dialog box, navigate to the destination folder and click OK.
The file is converted to an encrypted LEF file and is saved in the specified location with
the name CompanyName_Statenofn.LEF.
Note
The report is split into multiple files of 1000 records per file if more than
1000 loans are being reported. The file name will reflect the file number
and the total number of files in the batch.
13 Click OK to save the file.
If the file was previously saved in the same location, a dialog box is displayed to
confirm replacing the file.
14 Click Yes to replace the file.
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Reports
The RegulatorConnect Report saved dialog box is displayed.
This screen is displayed after the files are saved and indicates the file names and the
location where the files were saved.
15 Click Finish or Cancel to close the dialog box.
Note
•
The file name used is the company name set up in Utilities >
Company Defaults > Company Information. For more
information, refer to Entering default company and processing
center information, on page 28.
•
For more information about the data used in the report, refer to
Tracking RegulatorConnect data, on page 551.
Using functions to create formulas in reports
Some reports enable you to create formulas by using the function feature.
To create a formula with a function:
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1
Generate a report.
2
After your report is generated, click the Function (
) button.
Calyx Software
Standard reports
The Insert Function dialog box is displayed.
3
Specify the type of function by using one of the following options:
•
Enter the type of function in the Search for a function field and click Go.
Options that best match your entry are displayed in the Select a function section.
Example
To add numbers, enter add numbers in the Search for a function field and
click Go.
A list of addition functions is displayed in the Select a function section.
•
Point User Guide
Select the function that you want to use from the list.
Select a function category from the Or select a category dropdown list.
A list of functions in that category is displayed in the Select a function section.
Select the function that you want to use from the list.
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Reports
4
Click OK.
The Function Arguments dialog box is displayed.
Depending on the type of option selected, the number of arguments in the dialog box
will vary.
5
Enter the arguments.
6
Click OK.
Related information
For more information about using functions in Microsoft Excel, refer to
your Excel documentation.
Creating custom reports
If none of the reports that are supplied with Point meet your requirements, create your own
templates that fulfill your business needs.
Specifying data content
To specify the criteria to include in a report or marketing template:
668
1
Select the Templates tab from the navigation panel.
2
In the Select a Template Category section, select Reports & Marketing.
Calyx Software
Creating custom reports
The List of Reports & Marketing screen is displayed.
3
Click New to open a blank template or copy an existing template to use as your
source.
The following example shows a blank template.
Point User Guide
669
Reports
4
Enter a name for the template in the Report Title field.
5
Enter a template description in the Description field.
6
Select the data to include in the template:
a
Select the fields to include in your output from the Field Name dropdown lists.
The most commonly used fields are available in a dropdown list. Choosing a Field
Name value automatically populates the Field ID column. To include a field name
that is not in the dropdown list, enter the Field Name and Field ID manually.
Tip
Point offers three methods for identifying field IDs:
•
•
•
Load field IDs
Display field IDs
Field pop-up help
You can also use the Microsoft Excel file that is included in Point which
contains a comprehensive list of field IDs and the screens where they are
located. The file, FieldID.xls, is stored in the WINPOINT directory.
b
Click the ellipsis ... button in the Condition column to open the Condition Builder
dialog box.
i
Select the first Condition from the dropdown list, and enter the criterion in the
Text Value 1 field.
Depending on the format of the field (text, numeric, or date), the following
options are available:
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Condition
Definition
Equal to
The value in the corresponding field matches the value that is
specified in the Text Value 1 field.
Not Equal to
The value in the corresponding field does not match the value that is
specified in the Text Value 1 field.
Calyx Software
Creating custom reports
Condition
Definition
Contains
The value in the corresponding field contains the value that is
specified in the Text Value 1 field.
Begins with
The value in the corresponding field begins with the value that is
specified in the Text Value 1 field.
Greater than
The value in the corresponding field is greater than the value that is
specified in the Text Value 1 field.
Greater than or Equal The value in the corresponding field is greater than or equal to the
to
value that is specified in the Text Value 1 field.
Less than
The value in the corresponding field is less than the value that is
specified in the Text Value 1 field.
Less than or equal to The value in the corresponding field is less than or equal to the value
that is specified in the Text Value 1 field.
Between
The value in the corresponding field is between the values that are
specified in the Text Value 1 and Text Value 2 fields.
Date conditions
The following date conditions are available when a date field is
selected:
•
•
•
•
•
•
•
•
Today
Last # days
Next # days
This month
Last month
Next month
This year
Last year
Select an option and enter the appropriate value in the Text Value 1
field.
ii
To add additional filter criteria, select AND or OR from the And dropdown list to
specify how this condition must meet the criteria that was specified in the
previous condition; in addition to (AND) or instead of (OR).
iii When all the conditions are specified for a field, click OK to return to the report
template.
iv To enable filtering for the corresponding field at the time the report is
generated, select the Include in the Addition Filter List on the Report
Generation Screen check box. Selecting this option adds the field to the
Additional Filters on the Generate Report screen where additional filter
criteria can be specified.
Point User Guide
c
Select or deselect the check box in the Show column to specify whether the
corresponding field is to be shown in the report.
d
In the Total field, select one of the options to include a Total, Average, or Count of
the entries at the bottom of the corresponding column in the report.
e
Select the format of the data from the Format field. Auto is the default if no other
options are available.
f
Specify the width of the column in the Width field.
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Reports
7
Repeat Step 6 for all fields that are to be included in the report.
Related information
•
For more information about methods to determine field IDs, refer to
Chapter 24, Combined field IDs, and Identifying fields and field
IDs, on page 97.
•
For more information about using the Condition Builder, see the
Knowledge Base article #0453 Using the Condition Builder to
generate reports.
Specifying template sort options
Use the Sort Options section of the Template screen to specify the sequence in which
the records are to be sorted in the resulting report.
To specify template sort options:
1
2
Select the sequence in which the records are to be sorted in the report from the Sort
by, Then by, and Then by dropdown lists.
a
Specify the first field to sort by in the Sort by dropdown list.
b
Specify the second field to sort by in the first Then by dropdown list.
c
Specify the last field to sort by in the second Then by dropdown list.
For each option that you specified in the Sort by dropdown lists, select Ascending or
Descending, Group by, or Page break to specify the record format.
Ascending/Descending
Sorts data according to increasing or decreasing numerical or alphabetical
sequence.
Group by
Groups data by the option selected in the Sort by or Then by dropdown lists. For
example, if you selected Loan Originator from the dropdown list, all loan files will
be grouped together by loan originator.
Page Break
Available when Group By is selected. Inserts a page break between the groups
that are specified in the dropdown list.
Specifying output options
The following report output options are available:
•
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Point Report Viewer
Calyx Software
Creating custom reports
•
•
Microsoft Excel spreadsheet
Mail Merge Marketing format
Specifying Point Report Viewer output
When you create a template that outputs a report in Point Report Viewer format, you can
do the following actions after the report is generated:
•
•
•
Format the report
Save the report
Export report to XML, Microsoft Excel, or ASCII format
To set a report template to generate report output in Point Report Viewer:
1
Select Display result in Point Report Viewer in the Output Options section.
2
Specify whether editing, saving, or printing the report is allowed by selecting the
corresponding Permissions check boxes.
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Reports
3
Specify whether the report is to print on Letter or Legal size paper.
4
Specify the paper orientation, Landscape or Portrait.
5
To display the row numbers in the report, select the Display Row Numbers check box.
6
Select File > Save to save the template.
Access the new template from the Reports & Marketing tab when the Reports option
is selected.
Specifying Microsoft Excel file output
You can create a template that outputs the report into a Microsoft Excel file with default
Excel formatting or you can output the report to a preformatted Excel file.
Specifying generic Microsoft Excel output
To create a report template to generate report output into a generic Microsoft Excel file:
1
Select Display Result in Excel in the Output Options section.
2
Select Result in a new Excel file as the Excel output format.
3
Select File > Save to save the template.
4
Enter a name for the template in the Save As dialog box.
5
Click Save.
The template is stored and is available for future retrieval from the Reports &
Marketing tab when the Reports option is selected.
Specifying preformatted Microsoft Excel output
To create a report template to generate report output into a preformatted Microsoft Excel
file:
1
Select Display Result in Excel in the Output Options section.
2
Select Result in a pre-formatted Excel file as the Excel output format.
3
Select a preformatted Excel report from the File dropdown list or click New and select
Browse Existing Excel file... to locate an existing Excel file stored elsewhere on your
computer.
To custom format a new Excel spreadsheet:
674
a
Click the New button and select Create New Excel File....
b
In the Create New Excel File dialog box, name your file and click OK.
Calyx Software
Creating custom reports
A sample Excel file opens with columns for the selected fields.
4
5
c
Use the Excel formatting options to format the report.
d
Save and close the Excel file.
Select values for Worksheet Export to and Launch with. The values that are available
depend on the report that was selected.
Select the Display within Point check box for the result to show in the Generated
Reports screen.
6
Select File > Save to save the template.
7
Enter a file name in the Save As dialog box.
8
Click Save.
The template is stored and is available for future retrieval from the Reports &
Marketing tab when the Reports option is selected.
Related information
Refer to the Microsoft Excel documentation for information about how
to format an Excel spreadsheet.
Specifying mail merge output
Use Marketing document templates to send the same information to multiple recipients
using mail merge.
Tip
When the report is generated for mail merge purposes, selecting the
Eliminate Duplicates check box can help avoid duplicates.
Check whether you want to avoid duplicates of the borrower or coborrower’s SSN, and whether you want to use the Latest Open Date or
Latest Closed Date.
All duplicate records are removed except for the one with the latest open
or closed date based on your selection.
To set a report template to output to a mail merge document:
Select Use the Result for Mail Merge Marketing Documents.
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Reports
Three options are available in Mail Merge mode:
Add Link...
Link to an existing mail merge document.
Edit Link...
Change any information in the mail merge document before linking.
Unlink
Unlink a mail merge document.
Adding a link to a mail merge document
To add a link to a document:
1
Click the Add Link... button.
The Marketing Document & Options dialog box is displayed.
2
Select one of the following document types:
•
•
•
3
Mailing Label (go to Step 3)
Email (go to Step 4)
Custom Letter (go to Step 5)
If you selected Mailing Label:
a
In the Match Fields section select a Point field for each address field component.
The list of fields is retrieved from the report template. If a field that you need is not
listed in the dropdown list, update the report template to include the field.
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Calyx Software
Creating custom reports
4
b
In the Mailing Label Templates section, select an option to use for address label.
If you select [Select when generating], you are prompted to select from a list of
Avery labels when you generate the report.
c
Click OK.
If you selected Email, complete the Email Option section.
a
Enter a subject for the e-mail in the Email Subject field.
b
In the Email Address Field field, select the report field that contains the e-mail
address of the recipient.
The list of fields is retrieved from the report template. If a field that you need is not
listed in the dropdown list, update the report template to include the field.
c
5
Click OK.
If you selected Email or Custom Letter, select a custom document from the Email/
Custom Letter Content Document list and click OK.
This list contains the documents that were created with the custom forms feature.
Click Create New to create a new custom form.
Tip
It is possible to link to multiple items. For example, you can link to a letter
and an address label.
6
To link multiple items, repeat Step 1 through Step 5 for each item.
Editing a link to a mail merge document
To edit a link to a mail merge document:
1
In the mail merge section in the Report and Marketing | Template screen, select
the document that you want to edit.
2
Click Edit Link... to open the Market Document and Options dialog box.
3
Select a form from the list and click Edit. Make the necessary changes to the links or
fields.
4
Click Save and Close when finished editing and click OK.
Unlinking a link to a mail merge document
To break the link with a mail merge document:
Click Unlink.
The document is no longer linked to the template and can be linked to a different mail
merge document.
Related information
For more information about creating custom forms, see Custom forms,
on page 690.
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Reports
Manipulating report output
After a report is generated you can manipulate the output.
Manipulating reports in Point Report Viewer
After a report is output to the Point Report Viewer, you can format the report, create data
filters, sort data, subtotal the columns, and save or export the report.
Formatting Point Report Viewer reports
You can format the following aspects of a report that was output in Point Report Viewer
format.
•
•
•
•
•
•
Font
Row Colors
Grid Color
Auto Size Rows
Auto Size Columns
Headers and Footers
To format a report:
1
With the report open in Point Report Viewer, select Format and select the item that
you want to change.
2
Modify the settings in the resulting dialog box and click OK.
Filtering report data
A data filter is used to “filter” out key items in a long report.
To filter data:
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1
With the generated report open in Point Report Viewer format, select Data > Filter.
2
Select the column that contains the data to filter from the Column Name dropdown list.
The options are the columns in your report.
3
Skip the And/Or column for the first entry.
Calyx Software
Manipulating report output
4
5
Define the operator (or “condition”) to use in the second column. Depending upon the
characteristic of the field (text, numeric, or date), the following operators are available:
Operator
Definition
=
Equal to
Not =
or
<>
Not Equal to
>
Greater than
>=
Greater than or Equal to
<
Less than
<=
Less than or Equal to
Like
Begins with a letter or letter combination
Not like
Does not begin with a letter or letter combination
Specify the value that the operator condition must meet in the Value field.
Enter blank to filter records with missing information.
6
To add additional filters, move the cursor to the first column of the second row and
select And or Or from the And/Or dropdown list to specify how the filter must meet the
criteria that was specified in the previous row; in addition to (And) or instead of (Or).
For example, to filter all loans between the amounts of $500,000 and $1,000,000, your
filter will resemble the following example:
7
Click OK to update the report.
The report is regenerated in the Point Report Viewer.
8
Point User Guide
To add another filter level, create another filter and apply it to the report results.
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For example, to filter all loans between $500,000 and $1,000,000 that funded after
April 24, 2007, your second filter will resemble the following example:
9
Repeat Step 2 through Step 6 until you are finished filtering data.
Note
After you click OK, the report is regenerated and the new results are
displayed.
The original results remain intact, but are not visible until the filter is
removed. A data file is saved when the report is saved.
10 To return to the original report results, delete the filter criteria from the Filter dialog
box or regenerate the entire report.
Sorting
The sort function works much the same as a filter.
To sort a report:
1
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With the generated report open in Point Report Viewer format, select Data > Sort to
open the Sort dialog box.
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Manipulating report output
2
In the Sort by, Then by, and Then by dropdown lists, select the sequence in which the
records are to be sorted in the resulting report.
3
For each option that you specified in the dropdown lists, select Ascending or
Descending to specify the order of the records in the report.
4
Select the Group by check box to group the records by the option that you selected in
the corresponding dropdown list.
When you select the Group by check box, the Page break check box becomes
enabled. Select the Page break check box to insert a page break between each group
in the report.
Note
Point does not display a page break unless a group has been specified.
5
Click OK.
Subtotaling
The Subtotal function calculates the total amount, the average amount, or the total number
of entries in the corresponding column.
1
With the generated report open in Point Report Viewer format, select Data > Subtotal
to open the Subtotal dialog box.
2
Click in the Use Function field of the column that you want to calculate. The following
options are available:
Total
Calculates the total value of the column entries.
Average
Calculates the average value of the column entries.
Count
Calculates the total number of entries in the column.
Repeat this step for each column.
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3
Click OK when you are finished.
Saving and exporting reports in Point Report Viewer
Saving reports
To save your report:
1
Select File > Save or File > Save As.
2
In the Save In field, choose a destination directory.
3
In the File name field, enter a file name and click Save.
Point saves the file with the default extension of prv.
Exporting reports to XML
To export the results of a report in Point Report Viewer format to XML:
1
Select File > Export > XML.
2
In the Save In field, choose a destination directory.
3
In the File name field, enter a file name, and click Save.
Point automatically assigns the file an extension of xml.
Note
Data filters do not transfer when you export to XML.
Exporting reports to custom ASCII
To export the results of a report in Point Report Viewer format to custom ASCII format:
1
Select File > Export > Custom ASCII to open the Export Custom ASCII dialog
box.
2
Select the Field Separator, Record Separator, and Text Qualifier.
Field Separator
The Field Separator separates each field in the report with the specified delimiter.
The default option is {tab}.
{tab}
Uses a tab as the field delimiter.
, (comma)
Uses a comma as the field delimiter.
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{return}
Uses a return as the field delimiter (each field is on a separate line in the
report).
Record Separator
The Record Separator separates each record with the specified delimiter. The
default option is {return}.
{return}
Uses a return as a record delimiter (each record is on a separate line in the
report).
Text Qualifier
Text qualifiers specify that the text that is contained within the qualifier characters
is imported as one value. The default option is {none}.
{none}
No text qualifier is used.
“ (double quotation mark)
Uses double quotation marks as the text qualifier. Text that is contained within
double quotation marks is considered one value.
' (single quotation mark)
Uses single quotation marks as the text qualifier. Text that is contained within
single quotation marks is considered one value.
3
In the Save In field, choose a destination directory.
4
In the File name field, enter a file name, and click Save.
Point automatically assigns the file an extension of txt.
Exporting reports to Microsoft Excel
To export the results of a report in Point Report Viewer format to Microsoft Excel:
1
Select File > Export > Excel.
2
In the Save In field, choose a destination directory.
3
In the File name field, enter a file name and click Save.
Point automatically assigns the file an extension of xls.
Recommendation
Editing the report template to change the output to Display Results in
Excel provides a more seamless data integration.
Manipulating Excel report output
After a report is generated into Excel output, use the controls in the Generate Results
screen, shown in the following example, to process and view the data:
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Keep report results open check box
When selected, keeps the report open and available in the Reports & Marketing
tab if you switch to another view.
Open Loan button
Click the Open Loan button to open the loan file for the selected record.
Refresh button
Refreshes the report to include any loan data that was updated since the report
was generated.
Sort
Sorts data by the selected option in the dropdown list. Click
data in ascending or descending order.
to the sort the
Views
The view buttons access the available report views. They also correspond to tabs
at the bottom of the spreadsheet. Depending on the report, the following views are
available:
Cost and Profit Summary
Displays an overview of warehouse costs, units, and any gains or losses.
Dashboard
Displays all panels of the report in graphical format.
Data
Displays a table containing the information that is specified by the individual
report template.
Detail Status
Displays a detailed table of the loans in the pipeline, alphabetically by
filename.
LO Summary
Displays a table of sales figures by originator.
Monthly Trend
Displays a table of the loans by originator and monthly trend.
Pipeline Status
Displays an overview of loans in the pipeline. Select a single originator or
processor, or view a cross-section of their work. You can also view the loans
by status, or check all status types.
Yearly Trend
Displays a table of the loans by originator and yearly trend.
Range Analysis
Displays the number of loans within certain FICO score ranges and the
number of loans within specified LTV ranges.
Warehouse Summary
Displays an overview of data for warehouse lenders, their branches, and
averages of fees and costs.
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E-Mail To... button
Opens your default e-mail application with the report attached as a Microsoft
Excel spreadsheet.
Print button
Opens the Print dialog box for you to specify your print options and print the
report.
Open in Excel button
Opens the report in a Microsoft Excel spreadsheet.
Related information
Additional functions that are available in the report spreadsheet are
specific to Microsoft Excel. For information about how to use these
controls, refer to your Excel documentation.
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Marketing tools
18
Use Marketing tools to store information about your prospects and borrowers, customize
marketing documents, and produce custom documents that assist your prospects and
borrowers in making mortgage decisions.
In this topic
• Standard marketing documents
• Custom forms
• Documenting borrower and prospect personal
information
• Client communication
• Amortization schedules
• Cash-to-close statements
• Consolidating consumer debt
• Comparing loans
• Comparing renting to owning
• Prequalification
Standard marketing documents
The Marketing documents feature operates similarly to the Reports feature. Use the
predefined templates that are included in Point to send form letters and e-mails and print
labels.
Marketing templates
The following predefined marketing documents are available in Point:
Document
Description
Address Labels (Property
Address)
Generate address labels for the property address.
ARM Refinance Notification
Email
Generates an e-mail to inform a homeowner that new loan
programs are available that can save them money.
ARM Refinance Notification
Letter
Generates a letter to inform a homeowner that new loan
programs are available that can save them money.
Borrower Address Labels
(Mailing Address)
Generates address labels for the borrower’s mailing
address.
Borrower Interests
Generates a list of borrowers that are interested in specific
activities. For example, you can create a list of borrowers
who enjoy golf to send a golf-oriented marketing letter.
Co-Borrower Address Labels
(Mailing Address)
Generates address labels for the co-borrower’s mailing
address.
Contact Information Update
Generates a letter requesting current contact information.
Post Closing Letter
Generates a follow-up letter to send after a loan is closed.
Generates either a letter to thank the borrower or a letter
to request referrals.
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Generating address labels
Use the standard mailing label templates to generate mailing labels for a select group of
clients or prospects.
To create address labels:
1
Click the Reports & Marketing tab from the navigation panel to open the Reports &
Marketing Generate Results screen.
2
Select the data folders where the data is to be obtained. Click Select All to collect
report data from all data folders.
3
Select the file types that you want to include in the output by using any combination of
the Prospect, Borrower, and Include Co-Borrowers check boxes.
4
In the workspace, select Marketing to specify the type of output, and select one of the
address label templates from the dropdown list.
5
If not already displayed, click Additional Filters to display more options to refine your
report criteria.
6
Use the Originator and Processor dropdown lists to filter the search results by a
specific loan originator or loan processor.
7
In the Current Status section, select the status of the loans to include in the report, or
select All to include loans of any status.
8
To filter only loans that were in a certain status during a specific time period, select a
loan status from the Status Date dropdown list and specify a date range in date fields.
9
Click Generate.
10 If the Label Options dialog box is displayed, select a label type and click OK. Point
supports various standard Avery label sizes.
When the report generation is complete, a Point Report Viewer document is displayed
that contains the records that are produced from the report.
11 To prevent a mailing label from being created for any record, select the record and
click Delete Selected Rows.
12 In the Mail Merge Document(s) box in the lower left corner, select the label option that
you selected in Step 10.
13 Click Generate.
The records are merged and output to a Microsoft Word document, formatted for the
label size that you selected.
14 If needed, modify the Microsoft Word document using standard features in Word.
15 Click Print to print the labels.
16 To use the set of labels again, save the Word file.
Related information
Refer to the Microsoft Word documentation for information about how
to format a Word document.
Generating a standard marketing letter
Use the standard marketing letter templates to generate letters for mass mailings to a
select group of clients or prospects.
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Standard marketing documents
To generate a standard marketing letter:
1
Click the Reports & Marketing tab from the navigation panel to open the Reports &
Marketing Generate Results screen.
2
Select the data folders where the data is to be obtained. Click Select All to collect
report data from all data folders.
3
Select the file types that you want to include in the report by using any combination of
the Prospect, Borrower, and Include Co-Borrowers check boxes.
4
In the workspace, select Marketing to specify the type of output, and select one of the
letter templates from the dropdown list.
5
If not already displayed, click Additional Filters to display more options to refine your
report criteria.
6
Use the Originator and Processor dropdown lists to filter the search results by a
specific loan originator or loan processor.
7
In the Current Status section, select the status of the loans to include in the report, or
select All to include loans of any status.
8
To filter only loans that were in a certain status during a specific time period, select a
loan status from the Status Date dropdown list and specify a date range in date fields.
9
Click Generate.
10 If the Label Options dialog box is displayed, select a label type and click OK. Point
supports various standard Avery label sizes.
When the report generation is complete, a Point Report Viewer document is displayed
that contains the records that are produced from the report.
11 To prevent a letter from being created for any record, select the record and click
Delete Selected Rows.
12 In the Mail Merge Document(s) box in the lower left corner, select the template option
that you selected in Step 4.
13 Click Generate.
The records are merged into with the marketing letter that you selected and output to
a Microsoft Word document. The letter is copied for each record on a separate page.
14 Click Print to print the letters.
15 To use the merged letters again, save the Word file.
Generating a standard marketing e-mail
Use the standard marketing e-mail templates to generate e-mails for mass mailings to a
select group of clients or prospects.
To generate a standard marketing e-mail:
1
Click the Reports & Marketing tab from the navigation panel to open the Reports &
Marketing Generate Results screen.
2
Select the data folders where the data is to be obtained. Click Select All to collect
report data from all data folders.
3
Select the file types that you want to include in the report by using any combination of
the Prospect, Borrower, and Include Co-Borrowers check boxes.
4
In the workspace, select the Marketing option to specify the type of output, and select
one of the e-mail templates from the dropdown list.
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5
If not already displayed, click Additional Filters to display more options to specify
your report criteria.
6
Use the Originator and Processor dropdown lists to filter the search results by a
specific loan originator or loan processor.
7
In the Current Status section, select the status of the loans to include in the report, or
select All to include loans of any status.
8
To filter only loans that were in a certain status during a specific time period, select a
loan status from the Status Date dropdown list and specify a date range in date fields.
9
Click Generate.
When the report generation is complete, a Point Report Viewer document is displayed
that contains the records that are produced from the report.
10 To prevent an e-mail from being created for any record, select the record and click
Delete Selected Rows.
11 In the Mail Merge Document(s) box in the lower left corner, select the template option
that you selected in Step 4.
12 Click Generate.
The records are merged into the e-mail that you selected and are output to a Microsoft
Word document.
13 Click Send Email to send the letters.
The Microsoft Word document is attached to an e-mail and sent to the selected
recipients.
14 To use the document again, save the Word file.
Custom forms
Custom forms are used to create templates for Marketing documents in Reports &
Marketing.
Use the custom forms function to create forms in Microsoft Word 2000, or later, that merge
directly with Point data. The forms can also be printed from the Print menu.
Requirement
Microsoft Word is required to use the custom forms feature. It is not
included in Point.
Some of the functions of custom forms include:
•
•
•
•
Transmitting accurate conditions to lenders
Marketing programs to prospects and borrowers
Automating routine tasks such as requesting estimated HUD statements or
document updates
Managing lender-required submission forms
Creating custom forms
To create custom forms:
1
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Select the Templates tab from the navigation panel.
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Custom forms
2
Select Custom Forms/Letters/Email and click New.
The New Custom Form dialog box is displayed.
3
Enter a name for the form and click OK.
A blank Microsoft Word document and the Point Custom Form dialog box are
displayed.
4
Construct your form by selecting values from the Select Point Field dropdown list and
clicking Insert. Enter punctuation and spaces as needed.
If the field you need is not included the dropdown list, select Other Point Fields Not
Listed Above…, click Insert, enter the field ID, click Insert, and click OK.
For example, to create a letter to send to a borrower at their current address:
Point User Guide
a
Select Borrower First Name, click Insert, and type a <space>.
b
Select Borrower Last Name, click Insert, and <Enter>.
c
Select Present Address, click Insert, and <Enter>.
d
Select Present Address City, click Insert, and type a comma <,> and a <space>.
e
Select Present Address State, click Insert, and type a <space>.
f
Select Present Address Zip Code and click Insert.
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Your document will resemble the following screen:
g
Enter the text of the form and format it by using Microsoft Word formatting tools.
Tip
You can also insert merge fields in the body of the document.
If needed, insert merge fields in the body of the letter.
h
Click Close to save and close the form.
Tip
Use the basic Microsoft Word functions to edit and format the form.
You can also add a company logo or graphic by inserting a picture into
the Word document.
5
When you are finished creating your form or letter, click Save and then click Close.
Point creates a Word document with the file extension pcd.
Caution
Do not change the file extension or Point will not recognize it as a merge
document.
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Custom forms
To preview the document, click the Preview button. The merged document contains
sample data.
Related information
•
For information about identifying Point field IDs, refer to Identifying
fields and field IDs, on page 97.
•
For information about generating a marketing letter after you create
a custom form, refer to Generating a standard marketing letter,
on page 688.
•
Refer to your Microsoft Word documentation for more information
about creating mail merge forms and using Microsoft Word
functions.
Creating custom forms from existing Microsoft Word documents
You can import existing Microsoft Word documents to use as custom forms.
To import forms and letters from Microsoft Word:
1
Select the Templates tab from the navigation panel.
2
Select Custom Forms/Letters/Email.
3
Click the Import button.
A message is displayed stating that if the document contains mail merge fields, those
fields are no longer available after the import. You must edit the document to re-insert
any merged fields.
4
Click Yes to continue to the import.
The Select Word Files to Import dialog box is displayed.
5
Select the file or files you want to import and click Open.
The document you selected is added to Point.
6
Edit the document to add any merge fields and replace the fields that were lost during
the import.
Caution
The merge fields from the original document are displayed with double
brackets. To use these fields in your document, you must replace them
with the fields in the Point Custom Form toolbar.
7
Click Close to save and close the form.
Related information
For more information, see the following Knowledge Base articles:
Point User Guide
•
#0107 Inserting Word fields into Point custom forms
•
#0298 Creating and editing custom forms
•
#0299 Adding fields to custom forms not listed in dropdown
list
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Printing custom forms
To print custom forms for individual loan files:
1
Open a prospect or borrower file.
2
Select File > Print.
3
In the Borrower Forms dialog box, click the Custom Forms tab.
4
Select the forms you want to print and click Print.
Related information
To add the Custom forms to a Print group, see Creating print groups,
on page 128.
Customizing marketing documents
You can customize the following marketing documents to include your company-specific
information when you print them:
•
•
•
•
•
•
Prequalification
Amortization Schedule
Loan Comparison
Rent vs. Own
Cash-to-Close
Open House Flyer
In addition to adding your company logo, you can also include the following information on
a form:
•
•
•
•
•
•
Your name
Your business name
Your address, phone, and fax numbers
Prospect’s name
Property address
Name, address, phone and fax numbers of the agent for whom the printout is
prepared
Requirement
To include your company information on a printed form, the Company
Info dialog box must be completed with your company information.
Related information
694
•
For information about completing the Company Info dialog box,
refer to Entering default company and processing center
information, on page 28.
•
For information about printing forms, refer to Print and e-mail
options, on page 123.
•
For information about adding your company logo to a form, refer to
Adding a company logo to marketing letters, on page 696.
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Creating open house flyers
Point contains an open house flyer template that you can use to market a specific
property. The flyer includes the following information:
•
•
•
•
•
•
Contact information for the loan originator
Contact information for other agents
Name of the prospect
Property address
A photo of the property
Three loan comparisons
Most of the information that is included on the flyer is entered in other screens, but there is
some additional set up.
To create an open house flyer:
1
Open a prospect or borrower file.
2
Select Marketing > Loan Comparison.
3
To include property-specific loan information in the flyer, modify or complete the
values in the Loan Comparison screen.
4
Click the Prepared For button.
5
In the Prepared For dialog box, enter the name and contact information of the realtor
or person for whom you are preparing the flyer.
Tip
Use the Cardex database to populate the Prepared For dialog box.
6
To include your contact information in the Provided By section, ensure that the
Company Info dialog box is completed with your company information.
7
To include a photo of the property, click the Open House button.
The Open House Picture File dialog box is displayed.
8
Click Browse to locate the path of the photo, or type the path information. The default
directory is C:\PNTTEMPL\Images.
Important
Point supports jpg, bmp, and gif graphic file formats.
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9
To position the photo automatically, select the Auto Fit check box.
10 To position the photo manually, enter the number of inches to move the logo to the
right or down in the corresponding field.
To move the photo up or to the left, enter a negative value.
11 To adjust the size of the logo, enter the percentage in the Zoom field.
12 Click OK.
13 Print or preview the flyer as you would any other form.
Related information
•
For information about completing the Company Info dialog box,
refer to Entering default company and processing center
information, on page 28.
•
For information about printing forms, refer to Print and e-mail
options, on page 123.
•
For information about importing from Cardex, see Data import and
export, on page 751.
Adding a company logo to marketing letters
Use this function to specify the location of your company logo file and where to place the
logo on the form when creating marketing letters or an open house flyer.
Point supports bmp, jpg, or gif file formats.
To add a logo to a form:
1
Select Utilities > Company Defaults > Marketing Letterhead.
The Marketing Letterhead Setting dialog box is displayed.
2
Click Browse to locate the path of the graphic, or type the path information. The
default directory is C:\PNTTEMPL\Images.
Important
Point supports jpg, bmp, and gif graphic file formats.
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3
To position the logo automatically, select the Auto Fit check box.
4
To position the logo manually, enter the number of inches to move the logo to the right
or down in the corresponding field.
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Documenting borrower and prospect personal information
To move the logo up or to the left, enter a negative value.
5
To adjust the size of the logo, enter the percentage in the Zoom field.
6
Click OK.
Attention
The logo is automatically inserted into the following forms when printed
or previewed:
•
•
•
•
•
•
Amortization Schedule
Cash to Close
Debt Consolidation Worksheet
Loan Comparison
Prequalification
Rent vs. Own
Documenting borrower and prospect personal information
Use the Personal Information dialog box to record personal information about your
prospects and borrowers, such as their activities, hobbies and other interests, and specific
information about their children.
To access the Personal Information dialog box, click the Personal Info button that is
located at the bottom of the Borrower and Prospect Information screens.
To use the Personal Information dialog box:
1
Open a borrower or prospect file.
2
Click the Personal Info button.
3
Record the borrower and co-borrower’s interests in the Borrower Interests and CoBorrower Interests sections.
4
If the clients have children, enter any information that you know about their children in
the blank fields.
5
Click OK.
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Client communication
Point contains tools to help you track communication and document conversations with
prospects and borrowers.
Contact Information dialog box
The Contact Information dialog box provides a means to track communication
with prospects and borrowers, rate their interest, and record upcoming meetings.
Conversation Log
The Conversation Log is used to provide a history of conversations with prospects
and borrowers.
Tracking client communication
Use the Contact Information dialog box to help you communicate with your prospects
and borrowers more efficiently. Use it to rate the client’s level of interest, note any
meetings you have scheduled with the client, indicate the next date to contact, record the
source of the referral, and record any comments.
Access the Contact Information dialog box by clicking the Contact Info button at the
bottom of the Borrower and Prospect Information screen.
To use the Contact Information dialog box.
698
1
Open a prospect or borrower file.
2
Click the Contact Info button.
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Client communication
3
Rate the level of interest of the borrower by selecting the Cool, Warm, or Hot rating
button.
Tip
Determine whether a potential borrower is rated hot, warm, or cool by
their interest in proceeding with the loan.
After your prospects are rated, you can run a report that shows your
prospect’s level of interest at a glance.
4
To indicate the next contact or meeting, enter a contact date, time, and a note about
the reason for the contact in the Contact Date, Time, and Memo fields.
Recommendation
For more advanced functionality such as setting up meeting reminders,
use the Task Manager to schedule calls and meetings.
You can schedule up to three future calls or meetings in the Contact Information
dialog box.
Tips
•
Perform a “Search by Contact Date” search from the Loans tab on
the navigation panel to search for upcoming calls or meetings for
your prospects and borrowers.
•
Run the Contact Information Report to create a report of scheduled
calls and meetings for a specific date or date range.
5
Enter the source of the referral in the Primary Referral Source field.
6
If a secondary source exists, enter it in the Secondary Referral Source field.
7
Enter a lead ID, if applicable.
8
Enter any additional information in the Comments field.
9
Click OK.
10 To remove the first item from the list, click Done.
To move the item to the conversation log, click Yes in response to the subsequent
prompt. Otherwise, click No to delete the item.
The remaining entries are automatically moved up in the list.
Related information
Point User Guide
•
Refer to Documenting client discussions, on page 700, for
information about the conversation log.
•
Refer to Chapter 19, Tasks, for information about managing tasks.
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Documenting client discussions
Every file in Point includes a conversation log to record your interactions with prospects
and borrowers. Each entry is date and time-stamped and with the most recent entry listed
at the top.
To access the conversation log:
1
Open a prospect or borrower file.
2
Select Utilities > Conversation Log or click the Conversation Log icon on the toolbar
to open the Conversation Log.
3
Click Add to begin a new entry in the log.
Note
The name of the user who is logged in is automatically populated in the
Entered by field. When Point is not running in a secure mode, you can
change the name that displays by selecting Change Name from the File
menu.
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Amortization schedules
4
In the Add Item dialog box, enter the information you want to document, and click
OK.
Each successive entry is automatically date-stamped when it is entered in the
conversation log. Items are listed in reverse date order. The first 100 characters of each
entry are visible in the main Conversation Log dialog box. Entries with more than 100
characters are appended with an ellipsis (...). Hover the mouse over the entry to display a
tool tip that contains the entire entry. You can also double-click the entry to open and view
it in a separate window.
Attention
Only users who have full non-secure access are able to perform all of the
functions in the conversation log.
If you are processing files in a secure environment but do not have access to a secured
area, you can only add new entries or view them. You cannot delete or clear all the entries.
In a secure environment, the current user’s name and ID are prepopulated in the Entered
By field.
Amortization schedules
The amortization schedule tool produces a projected payment schedule for a loan
program that you enter.
Use the amortization schedule tool to show your prospects and borrowers the proposed
monthly payments for any given loan program, for example:
•
•
•
•
•
•
Fixed rate
ARM
Bi-weekly
GPM
Negative amortization
Construction
Complete the screen by completing those fields not already populated from other screens.
Use loan program templates to run amortization schedules for prospects under various
loan programs. After you have created the templates, start each amortization schedule by
selecting a preset loan program. If you prefer to enter the data field-by-field, enter the data
as you normally would.
The following figure shows the Detailed Payment Schedule when the
The following buttons, which are located at the bottom of the workspace, provide
additional functionality:
Calculate
Use the Calculate button to calculate the payment schedule for the loan after you
have completed the Amortization Schedule.
Monthly Sch
Click the Monthly Sch button to access a detailed payment schedule for either a
fixed or adjustable rate mortgage after you have completed the Amortization
Schedule. The amortization schedule also includes the payment schedule for the
USDA fee for USDA loans.
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The following figure shows the Detailed Payment Schedule.
Prepared For
Click the Prepared For button to open the Prepared For dialog box which is used
to enter the contact information of the person for whom you are preparing the
information, for example, a real estate agent. You can specify that this information
display on the printed form or on an open house flyer.
Related information
For more information about creating loan program templates, see Loan
program templates, on page 611.
Creating an amortization schedule for a fixed rate loan
To create an amortization schedule for a fixed rate loan:
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1
Open a prospect or borrower file.
2
Select Marketing > Amortization Schedule.
3
If you have created a loan program template, click Loan Prog to select one.
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Amortization schedules
4
Complete the Loan Amt, Note Rate, Term___mths, Due In__mths, and 1st Pmt Date
fields.
Tip
Term is the amortization time period. Due In is the length of the loan.
Therefore, a 30-year amortized loan with a balloon payment after five
years should be:
Term/Due In: 360/60
5
Click the Calculate button to display the payment schedule.
6
Click the Monthly Sch button to view a monthly payment schedule.
Creating an amortization schedule for an adjustable rate loan
To create an amortization schedule for an adjustable rate loan:
1
Open a prospect or borrower file.
2
Select Marketing > Amortization Schedule.
3
If you have created a loan program template, click Loan Program to select one.
4
Complete the 1st Pmt Date, Loan Amt, Note Rate, Term___mths, and Due__mths
fields.
5
Complete the 1st Adj Cap field. The first adjustment cap is the percent that the loan
will change for the first adjustment. (For example, enter 2% for a loan that will change
from 6% to 8%)
6
In the Adj Period__mths field, enter the number of months between each rate
adjustment for the remainder of the loan (for example, every six months).
7
In the Adj Cap__ mths field, enter the percent that the loan will change each period.
8
In the Life Cap __% field, enter the difference between the starting note rate and the
ceiling to which the note rate can adjust.
9
In the Margin __% and Index __% fields, enter those values based on the loan
program of your lender. To show a worst case scenario, leave the Index field blank.
10 The Floor field is optional. Use the Floor field to indicate a minimum interest rate.
11 Click the Calculate button to display the payment schedule.
12 Click the Monthly Sch button to view a monthly payment schedule.
Creating an amortization schedule for an ARM with negative
amortization
To create an amortization schedule for an ARM with negative amortization:
1
Open a prospect or borrower file.
2
Select Marketing > Amortization Schedule.
3
If you have created a loan program template, click Loan Program to select one.
4
Complete the 1st Pmt Date, Loan Amt, Note Rate, Term___mths, and Due __mths
fields.
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5
In the 1st Adj Cap __ % field, enter the maximum percentage that the rate will increase
for the first change to occur.
6
In the 1st Change__mths field, enter the number of months until the first percentage
change will occur (for example, if the first adjustment is scheduled to occur in 24
months, enter that number here.)
7
In the Adj Cap __% field, enter the maximum percentage that the rate will increase for
each period.
8
In the Adj Period__mths field, enter the number of months between each rate
adjustment for the remainder of the loan (for example, every six months).
9
In the Life Cap__% field, enter the maximum percentage to which the rate will increase
for the life of the loan.
10 In the Margin__% and Index__% fields, enter the margin and index based your
lender’s loan program. To show a worst case scenario, leave the Index field blank.
11 Complete the Payment Adjustments part of the Potential Negative Amortization
section.
When the Interest Only During Initial Pmt Rate Period is checked, it functions the
same as the Interest Only __ months field when it is completed. When it is not checked,
the Initial Payment Rate period is not based purely on the interest. Only after the initial
payment rate period has been satisfied will the Interest Only __ mths field take effect.
a
In the Adj Cap__% field, enter the percent that payment should increase for a
certain amount of time (for example, 7.5%)
b
In the Adj Period__mths field, enter the number of months that the payment
should change.
c
In the Recast Pd/Stop __/__mths fields, enter the number of months until the loan
is re-amortized to pay off the loan. Also enter when the negative amortization will
stop. These numbers are usually the same.
d
In the Max Bal__% field, enter the percentage rate of the original balance that the
principal balance can reach (for example 110%).
e
Click the Calculate button to display the payment schedule.
f
Click the Monthly Sch button to view a monthly payment schedule.
Customizing payment schedules
When you click the Calculate button and a payment schedule is displayed on the screen,
select the Customize Payment Schedule check box to customize the schedule. You can
change the number of payments, the interest rate, and the monthly payment amounts. The
result of any customization is reflected in the remaining amounts in the Balance column
and Total Pmts field.
You can customize the payment schedule automatically or manually. For example, you
can show a prospect the effect of paying an extra amount on a regular basis, such as
$500 every six months.
Customizing automatically
When you select the Customize Payment Schedule check box, the grayed-out fields in the
Payment Schedule section of the Amortization Schedule screen enable for editing.
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To add an automatic payment, complete the Extra Payment fields, including the
amount and the frequency of the payment.
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Cash-to-close statements
2
Click the Calculate button to recalculate the amortization figures.
Customizing manually
When you select the Customize Payment Schedule check box, the grayed-out fields in the
Payment Schedule section of the Amortization Schedule screen enable for editing.
1
In the payment fields, adjust the number of payments, the interest rates, or the
monthly payment amounts.
2
Click the Calculate button to recalculate the amortization figures.
Printing an amortization schedule
To print an amortization schedule:
1
Open a prospect or borrower file.
2
Select File > Print.
3
In the Borrower Forms dialog box, select the Amortization Schedule.
4
Click Print.
5
In the Amortization Print Options dialog box, specify the number of years to print,
and the number of months to print.
6
For a running total of the amounts to print, click Yes next to Cumulative.
7
Click OK.
Cash-to-close statements
The Cash-to-Close screen produces a statement that follows the format of the Details of
Transaction section in the Loan Application and shows the prospect or borrower the
amount of cash needed to close a loan.
The Prepared For button, which is located at the bottom of the workspace, opens the
Prepared For dialog box which is used to enter the contact information of the person for
whom you are preparing the information, for example, a real estate agent. You can specify
that this information display on the printed form or on an open house flyer.
Tip
To manually enter values in the Cash-to-Close screen, click the lock box
next to the corresponding field to unlock the field.
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For purchase transactions, complete the following fields:
a. Purchase Price
e. Est. prepaid items
f. Est. closing costs
j. Subordinate financing
l. Fees paid by others that you must deduct (such as lenders or builders)
For refinance transactions, complete at least the following fields:
d. Refi (incl. debts to be paid off)
e. Est. prepaid items
f. Est. closing costs
j. Subordinate financing
m./o. Loan Amount (populated from the Information screen)
n. PMI, MIP financed
Consolidating consumer debt
The Debt Consolidation Worksheet consolidates consumer debt for any type of
refinance. It is most beneficial when used in conjunction with a credit interface provider or
a credit service in Point. Using the Debt Consolidation Worksheet saves the step of
manually entering liabilities.
The following buttons, which are located at the bottom of the workspace, provide
additional functionality:
Income
The Income button opens the Income Information dialog box which is used to
enter all sources of income for the borrower and any co-borrowers.
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Consolidating consumer debt
HE & Oblig
The HE & Oblig button opens the Housing Exp & Other Obligations dialog
box where housing and other monthly expenses are recorded and calculated.
2nd Mtg
The 2nd Mtg button opens the Subordinate Financing Information dialog
box which is used to enter second, third, and fourth mortgage information for the
subject property and link the loan files.
Invest
Click the Invest button to access the Investment Information dialog box
which is used to enter information about investment property that a borrower or
co-borrower owns.
Credit Scr
Click the Credit Scr button to open the Credit Scores dialog box. This dialog box
is automatically populated when credit is requested through the Point Services
interface.
Status
Click the Status button to open the Status dialog box which is used to store the
progress of various tasks and deliverables that are associated with the Debt
Consolidation Worksheet.
Calc Bal
Click the Calc Bal button to open the Balance Calculation dialog box which is
used to calculate the actual balance of the loan.
Cntct Info
Click the Cntct Info button to access the Contact Information dialog box which
helps you to communicate with your prospects and borrowers more efficiently.
Cur Ratio
Click the Cur Ratio button to display the debt-to-income ratio for information that
is contained in the Debt Consolidation Worksheet.
Attention
If you entered debts on page 3 of the Loan Application, or if you
ordered the credit report from a credit provider, the information
populates this screen.
If the current monthly mortgage payment includes taxes and insurance,
you must change it to reflect only the principal and interest.
To access the Debt Consolidation Worksheet screen:
1
Open a prospect or borrower screen.
2
Select Marketing > Debt Consolidation Worksheet.
3
Click the New button and enter the customer’s current debts by:
•
•
•
•
•
•
Point User Guide
Company name
Type of account
Balance
Payment
Months left
Whether the account will be paid off
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4
To indicate that a liability is to be paid off:
a
Select the liability.
b
Click Paid Off or Edit.
c
If you selected Edit, the Liability dialog box is displayed.
d
Select the Will be paid off (*) check box.
e
Click OK in the Liability dialog box.
An X is placed in the Pd Off column of the liability list.
5
Enter any cash out in the Cash Out field.
6
Click Loan Pg (loan program) to select a preset loan program template.
7
Click CC Scenario (closing cost scenario) to select a preset closing cost scenario
template.
8
In the CC Scenario dialog box, select the closing costs for this loan, or type in the
appropriate fees from the GFE or MLDS.
9
Click OK.
10 If the information has not been populated from other screens, indicate the following
information:
•
•
•
Loan Type
Lien Positions
Residency Status
11 In the New Loan and Term fields, enter the new loan term and interest rate and the
applicant’s income.
12 Click Calculate New Loan to view the new loan amount.
The Savings field beneath it shows the monthly difference between previous monthly
accounts that will be paid off and what the new loan payment will be.
Comparing loans
Point provides tools to compare loans to show prospects the benefits, costs, requirements,
and other information that they can use to make an informed decision before determining
which type of loan they will need for their financing.
Tools are available in Point to make the following loan comparisons:
•
•
Compare three different loan scenarios
Comparing a sample FHA versus a conventional loan
Comparing loan scenarios
Use the Loan Comparison screen to compare three loan scenarios side-by-side. To
compare loan scenarios, you need to work with a saved file. If your file is not saved, Point
prompts you to save it.
The following buttons, which are located at the bottom of the workspace, provide
additional functionality:
Edit Scenarios
Opens the Anti-Steering Disclosure screen which is used to enter and edit the
comparison criteria.
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Comparing loans
Compare
Click the Compare button to open the Months to Compare dialog box which is
used to enter the number of months to compare different loan alternatives.
Mth Pmt
Click the Mth Pmt button to open the Monthly Payment dialog box which is
used to set the loan payment structure, terms, and specifications.
ARM
Click the ARM button to display the ARM dialog box which is used to enter rate
information if the loan scenarios you are comparing are for adjustable loans.
Notes
Click the Notes button to display a dialog box where you can enter additional
notes about the prequalification.
Prepared For
Click the Prepared For button to open the Prepared For dialog box which is used
to enter the contact information of the person for whom you are preparing the
information, for example, a real estate agent. You can specify that this information
display on the form print out or on an open house flyer.
Open House
Click the Open House button to access the Open House Picture File dialog box
which is used to specify the image location on the open house flyer.
Tip
When used with the loan program templates and the closing cost
scenario templates, the Loan Comparison screen provides immediate
answers to a prospect’s questions about their loan choices.
Each loan scenario can be as similar or different as you choose.
However, it is important to be consistent. If you include taxes, insurance
or other costs in one scenario, remember to include them in all the
others.
1
Open a prospect or borrower file.
2
Select Marketing > Loan Comparison.
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The Loan Comparison screen is displayed.
Any existing loan data in the loan file is automatically populated in the corresponding
fields in the Prospect Program column. The data that is entered in Scenario 1 and
Scenario 2 in the Anti-Steering Disclosure are displayed in Scenario 1 and 2 here.
You can edit only the data in the current loan file. To edit the scenario data, you must
go to the Anti-Steering screen.
3
Click Loan Prg to select a loan program template, or enter one manually.
4
Click CC Scen (closing cost scenario) to select a closing cost scenario.
5
Enter the sales price and down payment in the Sales Price and Down Pmt fields. For
refinance alternatives, enter only a loan amount.
6
Enter or edit the data in the remaining fields as needed for the comparison.
7
Click the Mth Pmt button to open the Monthly Payment dialog box and enter or edit
the hazard insurance, property taxes, mortgage insurance, and homeowner’s
association (HOA) dues in the applicable fields. Click OK.
8
Click ARM to enter or edit the adjustable rate information.
9
Click Notes to open a dialog box to enter any notes about the loan comparison.
10 To include the contact information of the party for whom the comparison was created,
click the Prepared For button and complete the Prepared For dialog box.
Related Information
For more information about the Anti-Steering Disclosure, refer to AntiSteering Disclosure, on page 163.
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Comparing loans
Printing loan comparisons
To print loan comparisons, click the Print icon while in the Loan Comparison screen (or
select File > Print).
1
In