176 Calyx Software
FHA and VA loans
l Click OK.
Completing the Good Faith Estimate
After you complete the Borrower Information screen and Loan Application,
complete the
Good Faith Estimate:
1 Open the Good Faith Estimate from the Forms menu or the shortcut bar.
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).
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.
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 submitting 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-in-
Lending
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.
Related information
• For more information about defining dropdown list values, refer to
Creating dropdown lists, on page44.
• For more information about the Information screens, refer to
Borrower and prospect information screens, on page151.
Attention
Sellers might not be charged for non-allowable fees unless the contract
specifically states that the seller has agreed to pay them.
Related information
For more information about completing the Good Faith Estimate, refer
to Good Faith Estimate, on page119.
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