Calyx Point 7 - Creating New Co-Borrower Loan Files

Point User Guide 73
Loan file creation
5 To copy only the Loan Application, select the Carry over 1003 data to start a new
loan
check box.
In addition to the
Loan Application, the following items are duplicated in the new
loan when this option is selected:
• User-defined miscellaneous items
• Due date calculations that are defined in the Miscellaneous Items section of the
Status and Checklist screen
• The loan representative who is identified in the Borrower Information screen
• The processor who is identified in the Borrower Information screen
6 Click Save to save the file in the default loan file directory.
To save the file in a different location, click the Browse Other Location button.
Navigate to the new directory and click Save.
Creating new co-borrower loan files
Co-borrower files are generally used for applicants who are not married to each other.
A maximum of five co-borrowers are allowed per loan. Co-borrower applications are
saved under the primary borrower file name with the
.cbx extension. The “x” in the
extension denotes the co-borrower number. For example, the extension for the first co-
borrower on a loan is
.cb1 , the second co-borrower, .cb2 , and so on.
To create a co-borrower file:
1 Create or open a prospect or borrower file.
2 Select Bor/Co-Bor > Co-Borrower x.
Related information
• For information about how to specify the auto file naming
parameters and enable auto file naming, refer to Naming files
automatically, on page63.
• Refer to Chapter 10, Loan tracking, for information about the loan
checklist, basic documents, and miscellaneous items.
Tip
As a general rule, use Bor/Co-Bor when two or more people are buying
the same property.