Calyx Point 7 User Manual page 130

Loan Application
Click New to open the
2
Enter the property street address, city, state, and zip code in the
3
fields.
If the loan is a refinance, the property address is automatically populated from the
Loan Application
property.
Indicate if the property was sold (S), if a sale is pending (PS), or if the property will be
4
held for rental income (R) in the
If none of the values apply (for example, if the property is a second home), leave the
field blank.
Select the property type from the Type dropdown list.
5
Enter any comments about the property in the
6
Enter the market value of the property in the
7
Enter the remaining mortgage balance in the
8
If the property is a rental, enter the gross rent amount in the
9
10 If this is a second mortgage or property, add the first and second mortgage balance
and payments together. Enter the amount in the
11 Enter the total insurance and tax payments, and any miscellaneous payments, such
as home owner's association dues in the
If the
PS/R
12 To enter multiple properties, click Save & New after each entry.
Use the arrow buttons to navigate between entries in the
dialog box.
112
Edit Real Estate Owned
. Select the
If the property has a positive cash flow, the
Loan Application
the
If the property has a negative cash flow, it is displayed on the
Transmittal Summary
field contains a value and the property disposition is R (the
Occupancy Rate
field) Point calculates the net rent.
The REO list can contain a maximum of 200 properties.
dialog box.
Subject Property
check box to specify the subject
field:
S/PS/R
Remarks
Market Value
Amt of Mtg
Note
Net Rent
field on page 2 of
is automatically populated.
.
Mtg Payment
Ins/Tax/Misc
Note
Property Address
field.
field.
field.
field.
Gross Rent
field.
field.
Edit Real Estate Owned
Calyx Software
S/