Calyx Point 7 - Completing the MLDS for a Non-Traditional Loan

Point User Guide 143
Disclosures
10 Select the may, will, or will not check box to indicate whether the loan is being
funded with broker-controlled funds.
11 Complete the
NameofBroker, Broker’sRepresentative, and both License# fields.
12 Select File > Save.
Completing the MLDS for a non-traditional loan
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 non-traditional Mortgage Loan Disclosure Statement:
1 Open a prospect or borrower file.
Tip
To avoid repetitive entry, create a master template to populate these
fields automatically.
Related information
• For information about how to indicate in the Loan Application that
liabilities are to be paid, refer to Entering liabilities, on page108.
• For information about the Good Faith Estimate, refer to Good Faith
Estimate, on page119.