Completing The Mlds For A Non-Traditional Loan - Calyx Point 7 User Manual

10 Select the
funded with broker-controlled funds.
11 Complete the
12 Select File > Save.

Completing the MLDS for a non-traditional loan

The non-traditional Mortgage Loan Disclosure Statement is used for loans with monthly
payments that are less than the principal and interest payment, such as interest-only or
negative amortization loans. It contains several loan scenarios to provide the borrower
with information to make comparisons.
The following buttons, located at the bottom of the workspace, provide additional
functionality:
Calculate
Monthly Sch
To complete the non-traditional Mortgage Loan Disclosure Statement:
Open a prospect or borrower file.
1
Point User Guide
may will will not
, , or
Name of Broker
To avoid repetitive entry, create a master template to populate these
fields automatically.
• For information about how to indicate in the
liabilities are to be paid, refer to
• For information about the Good Faith Estimate, refer to
Estimate, on page 119.
Use the Calculate button to calculate the
Scenario sections.
Use the Monthly Sch button to view the amortization schedule based on the data
in the Truth-in-Lending
check box to indicate whether the loan is being
,
Broker's Representative
Tip
Related information
Loan Application
Entering liabilities, on page 108.
Payment Scenarios
screen.
Disclosures
, and both fields.
License #
that
Good Faith
and Loan Balance
143