Entering Liabilities - Calyx Point 7 User Manual

Loan Application
Enter the cash/market value of the following assets:
5
The
Schedule of Real Estate Owned
a
b
c
d
Point calculates the
Complete the
6
a
b
Enter any remaining property of value in the
7
include furniture, art, jewelry, or other personal items. Itemize them or aggregate them
as necessary.
Point calculates and displays the total value of assets.

Entering liabilities

The Liabilities
ensure their ability to make the mortgage payments.
108
field is populated from the information that is entered in the
Real Estate Owned
Enter the vested amount of the borrower's pension or retirement funds to which
they have access in the
If the borrower owns an interest in a sole proprietorship, partnership, or
corporation, enter the net worth of the business in the
field.
owned
If the borrower owns any stocks and bonds, complete the
, and
Shares Total Amount
and the total value of the shares.
Complete the Life Ins: Face Amt
policies. Enter the face amount of the policy in the first field, and the cash value of
the policy in the second field.
Subtotal Liquid Assets
Automobile(s) Owned
Enter the year, make, and model for each automobile owned.
Enter the market value of each automobile.
• For information about creating a separate application for a co-
borrower, refer to
• Refer to Chapter 8, Verifications, for more information about the
Verification of Deposit
section documents information about a borrower's debts and expenses to
section.
Vested Interest in Retirement Funds
fields with the name of the stock, the number of shares,
fields if the borrower has any life insurance
.
fields:
Other Assets
Related information
Creating new co-borrower loan
screen.
field.
Net worth of business
Stocks and Bonds
section. These assets might
files, on page 73.
Calyx Software
,