Calyx Point 7 - Submitting and Tracking Warehouse Lender Loans

260 Calyx Software
Banker functions
d Enter the dollar amount of the down payment to be made by the borrower at
closing in the
DownPayment field.
5 Complete the
Gain/Loss on Loan section.
a Enter the dollar amount of the lender charges from the Estimated HUD-1
Settlement Statement that was signed by the borrower at closing in the
Total
LenderSettlementChargesfromEst.HUD‐1
field.
Point calculates the
TotalLoanRevenue field by adding the settlement charges from
the HUD-1 statement and the net lock price. This revenue is retained by the lender
from fees that are charged to the borrower.
b Enter the dollar amount of loan commission that was paid to the loan originator in
the
OriginationCommission field.
The
WarehouseCosts field is populated from the TotalEstimatedWarehouseCost field
in the
Warehouse Advance and Repayment screen.
c Enter any additional lender costs in the
OtherDirectCosts field.
d Enter the cost to the lender of doing business in the
AllocatedCosts field.
This figure is usually calculated by dividing the total budget by the budgeted
number of loans to produce the per-loan cost of the lender’s operations budget.
This figure can be calculated differently depending on the lender’s business
model.
Enter this figure manually or use a template to avoid repetitive data entry.
e Point calculates the
NetGain/LossonLoan field by subtracting the Origination
Commission
, WarehouseCosts, AllocatedCosts, and OtherDirectCosts from the
TotalLoanRevenue.
6 Complete the
Dates section.
Most of these fields are already populated from information that was entered in other
Point screens. In the fields that are not prepopulated, enter the date when the event
occurred.
Submitting and tracking warehouse lender loans
The Warehouse Advance & Repayment screen is used by the warehouse
administrator to enter the information that is provided to the warehouse lender. The
warehouse administrator also uses this screen to record the date and amount of the
repayment of the warehouse advance from the proceeds of the loan sale, and to track the
warehouse costs of each funded loan between the warehouse advance date and the
warehouse repayment date.
To use the
Warehouse Advance & Repayment screen:
1 Open a borrower file.
Related information
• Refer to Generating the Mortgage Identification Number
automatically, on page64, for information about automatically
generating the MIN.
• Refer to Chapter 14, Templates, for information about creating loan
templates.