Calyx Point 7 - Page 184

166 Calyx Software
Disclosures and other forms
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.
b To modify the cash flow values, click the lock box to enable the fields.
c 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
d 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.
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.
Tip
You can use the Cardex database to populate this information.
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.
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.