Calyx Point 7 - Page 157

Point User Guide 139
Disclosures
b In the second field for the MortgageBrokerCommission/Fee,enter a dollar value.
c Enter a percentage, a dollar value, or both in the corresponding
AnyAdditional
CompensationFromLender
fields if the lender is paying the broker any indirect
compensation.
4 Complete the
CreditLifeand/orDisabilityIns. field in the Additional Required
California Disclosures
section if a Credit Life or Disability Insurance policy fee is
included with the loan.
The
InitialCommissions,Fees,Costs,andExpensesSummarizedonPage1field is
automatically populated from the
Good Faith Estimate and also corresponds to the
TotalofInitialFees,Commissions,CostsandExpenses field in the previous section.
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
.
5 To include additional obligations in the calculation, enter a description and the total
amount of the obligations in the empty fields that are provided for user-defined entries.
Important
This field does not correspond to the CompensationtoBrokerfrom
Lender
fields in section 800 on the Good Faith Estimate. If YSP
applies, you must itemize it here, even if you have already done so on the
Good Faith Estimate.
Important
Previous versions of Point include fields for the Purchase/Payoff amount
and two user-defined obligations. However, to maintain compliance with
DRE regulations, one of the user-defined fields was removed from the
user interface. Therefore, if you open, copy, or import 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 total of all additional obligations and enter the
sum in the remaining user-defined field manually.