Calyx Point 7 User Manual page 198

FHA and VA loans
Many of these fields are populated from information that was entered on the
Borrower Information
a
b
c
d
e
f
g
180
screen,
To enter or edit income information, click Base Income to access the
Income Calculator .
Enter secondary income sources and rental income on pages 2 and 3 of
Loan Application
the
If the borrower makes monthly child support payments and they were not entered
in the Loan Application
Enter other debts and obligations on page 3 of the
In the Borrower Funds to Close
and fields.
Source of Funds
To enter the closing costs manually, click the
the field.
Enter the number of months of reserves that are required in
fields.
Reserves
Complete the
Lease/Ground Rent
section, if applicable.
Enter proposed monthly housing expenses on page 2 of the
Application
or by clicking the HE & Oblig button on the
Information
screen.
Enter the borrower and co-borrower CAIVR numbers.
The Credit Alert Interactive Voice Response system (CAIVR) is a Federal
database of debtors who have defaulted on debts to Federal agencies.
Loan processors use this database to prescreen applicants by submitting
their social security number for verification. If their social security number
is not included in the database, a clear confirmation code (CAIVR
number) is issued and they can proceed with the loan.
Yes No
Select the or check box for both the borrower and co-borrower to indicate
if their name is on the LDP/GSA lists. If their name is on the list, they are ineligible
to participate in the loan program.
Loan Application , and
Attention
.
, enter the payment amount in the
Attention
Loan Application
section, complete the
Closing Costs
field in the Proposed Monthly Payments
Attention
Note
Good Faith Estimate
Monthly
field.
Child Support
.
,
Required Verified Assets
field lock box to enable
No. of Months
Loan
Borrower
Calyx Software
.
,