Point User Guide 223
Locking rates and registering loans
e Complete the Debt-to-Income Ratios section.
When locking a loan, many loan programs require that the top/bottom ratios and
the LTV/CLTV not exceed a maximum amount. Enter the maximum levels that are
allowed on the rate sheet to ensure that the loan parameters meet the rate lock
requirements.
The
Combined fields are automatically populated with the combined debt-to-
income ratios of the borrower and co-borrowers when there are co-borrowers on
the loan.
f Complete any remaining empty fields.
6 Complete the
ARM Information section.
The information in this section is also on the
Initial ARM Disclosure screen in the
Rate Adjustments section.
a Enter the margin in the
Margin field.
This rate remains constant throughout the life of the loan.
b Enter the publicly published number that is used to alter the adjustable loan rate in
the
IndexValue field, if applicable.
c Select the index type from the dropdown list, or enter it manually.
7 Complete the
Mortgage Insurance section.
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.
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