Calyx Point 7 User Manual page 148

Disclosures and other forms
d
e
Complete the
6
If this information was entered in the
populated. If this information is entered or changed in the
screen, the
a
b
c
d
e
f
Complete the
7
If this information was entered in the
populated. If this information is entered or changed in the
screen, the
a
130
Initial Interest Rate Discount
Select the
to the lender's discretion
If the initial loan payments are interest only, enter the number of months in the
field.
Interest Only mths
Rate Adjustments
Truth-in-Lending
For negative amortization loans, leave the
blank.
Floor
The field is optional.
In the
1st Adj Cap ___%
increase for the first adjustment.
In the
1st Change ___mths
adjustment.
In the field, enter the maximum percentage that the rate will
Adj Cap ___%
increase for each period.
In the
Adj Period ___mths
adjustment for the remainder of the loan.
In the field, enter the maximum percentage to which the rate can
Life Cap ___
increase for the life of the loan.
In the and
Margin Index
loan program. To show worst case scenario, leave the
Payment Adjustments
Truth-in-Lending
Specify the initial interest rate by selecting Start rate, % Below Note Rate, or % of
Amortized Pmt from the Initial Payment Rate dropdown list and enter the percentage
in the field.
%
Interest Rate Changes are Subject
and
check boxes, if applicable to the loan.
section.
Truth-in-Lending
screen is automatically populated.
Attention
1st Adj Cap
field, enter the maximum percentage that the rate will
field, enter the number of months until the first
field, enter the number of months between each rate
fields, enter the margin and index based on your lender's
section.
Truth-in-Lending
screen is automatically populated.
screen, it is automatically
ARM Disclosure (Initial)
Adj Cap
and fields
field blank.
Index
screen, it is automatically
ARM Disclosure (Initial)
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