Calyx Point 7 - Page 281

Point User Guide 263
Submitting and tracking warehouse lender loans
The NetLoanAmt field is the amount that the lender must provide to the closing
agent. This amount is calculated by subtracting the warehouse advance from the total
loan amount.
c Enter the value of the subject property in the
CollateralValue field.
The
ClosingState field is the state where the loan will close and is populated from
Borrower Information screen.
The
EstWarehouseGrossCost field is calculated by using the following formula from
the
AdvanceRate (AR), WireAmount (WA), EstimatedRepaymentDate (ERD),
AdvanceActualDate (AAD), and AdvanceFee (AF) values:
((AR*WA)/360)((ERD-AAD)+AF)
The
EstInterestEarned field is calculated by using the following formula from the Loan
Amount
(LA), LoanInterestRate (LIR), EstimatedRepaymentDate (ERD), and First
PaymentDates
(FPD) values:
((LA*LIR)/360)(ERD-FPD)
The
EstWarehouseNetCost field is calculated by subtracting the EstimatedInterest
Earned
from the EstimatedGrossCost.
d Select the type of warehouse advance that the lender is requesting from the
warehouse lender from the Advance Type dropdown list.
e In the
CommitmentNo field, enter the number that was provided to the
warehouse lender by the lender that proves that the lender has obtained an
investor’s commitment to purchase the loan after it is funded.
7 Complete the
Repayment section.
If not prepopulated, enter the amount that was wired to the warehouse lender by the
lender or its assignee from the loan sale proceeds in the
Amount field.
The
ActualInterestEarned field is calculated by using the following formula from the
LoanAmount (LA), LoanInterestRate (LIR), ActualRepaymentDate (ARD), and First
PaymentDate
(FPD) values:
((LA*LIR)/360)(ARD-FPD)
The
ActualWarehouseGrossCost field is calculated by using the following formula
from the
AdvancedRate (AR), WireAmount (WA), ActualRepaymentDate (ARD),
AdvanceActualDate (AAD), and AdvanceFee(AF) values:
((AR*WA)/360)((ARD-AAD)+AF)
The
ActualWarehouseNetCost field is calculated by subtracting the ActualInterest
Earned
from the ActualGrossCost.