180 Calyx Software
FHA and VA loans
Many of these fields are populated from information that was entered on the
Borrower Information screen, Loan Application, and Good Faith Estimate.
a To enter or edit income information, click Base Income to access the
Monthly
Income Calculator
.
b If the borrower makes monthly child support payments and they were not entered
in the
Loan Application, enter the payment amount in the ChildSupport field.
c In the
Borrower Funds to Close section, complete the Required, VerifiedAssets,
and
SourceofFunds fields.
To enter the closing costs manually, click the
ClosingCosts field lock box to enable
the field.
d Enter the number of months of reserves that are required in
No.ofMonths
Reserves
fields.
e Complete the
Lease/GroundRent field in the Proposed Monthly Payments
section, if applicable.
f Enter the borrower and co-borrower CAIVR numbers.
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.
Attention
Enter secondary income sources and rental income on pages 2 and 3 of
the
Loan Application.
Attention
Enter other debts and obligations on page 3 of the Loan Application.
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.
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.
To Next Page
Loading...