Calyx Point 7 User Manual page 307

Open page 4 of the
6
of Transaction
Save the file.
7
To create the second loan:
From any screen in the first loan file, select File > Subordinate Financing > Create
1
New Second Mortgage.
If Auto File Naming is not enabled, enter a file name and click Save
2
The
Click Yes to open the second mortgage file.
3
A new file is opened which contains the information for the concurrent second
mortgage.
The navigation panel contains two buttons to toggle back and forth between the two
linked loans.
Verify the following information on the
4
Open page 2 of the
5
Expenses, including the
the values in the first mortgage file.
Open page 4 of the
6
Details of Transaction
Point User Guide
Loan Application
section.
Closing Costs Paid by Seller
Do NOT check
The file name cannot contain any of the following characters:
\ / : * ? " < > |
Second Mortgage File Created Successfully
Field Value
Lien Pos Second Mtg
Sales Price Same sales price as that on the first mortgage file
Down Pmt 90% (this figure is not included on the
Appr Value Same appraised value as in the first mortgage file
Loan Amt Second mortgage amount (10% of the sales price)
Note Rate Rate for the second mortgage
Term/Due Rate for the Term/Due
Mth Pmt Second mortgage payment
Loan Application
First Mtg
Loan Application
section:
Field
Purchase Price (a)
Subordinate financing (j)
For Sub Financing Only section
and enter any other fees on line l in the
Important
in the second mortgage file.
Restriction
Borrower Information
Loan Application
and verify that the Proposed Monthly Housing
, , ,
Other Fin HazIns Taxes
and verify the following information in the
Value
Same as the 1st mortgage file
Blank
Subordinate financing
Details
dialog box is displayed.
screen:
screen)
and other fee fields, match
289