Calyx Software Message Board / Calyx Point / Forms / Regulations

1098 Points - where is it calculated?

julie — Tue, 05 Feb 2013 15:20:48 GMT

The 1098 tax for has a field for points. Where is that number pulling from or calculated from??

H-3 Model form for Credit Score Disclosure Exception

EricaL — Thu, 17 Feb 2011 12:37:17 GMT

Is Point not coming out with the H-3 Model form for Credit Score Disclosure for Loans Secured by 1-4 Units of Residential Real Property.

What is the COMPENSATION FROM REBATE?

scrow1 — Wed, 21 Jul 2010 13:48:53 GMT

I don't think I ever noticed this on here before. What is this field for, and what is its impact on the GFE/APR?

Reg B Changes to Adverse Action Notices Effective 1-1-13

Cynthia — Tue, 04 Dec 2012 10:45:26 GMT

Can someone confirm that the necessary changes to the Adverse Action Notice that are effective 1-1-13 have been made?

USDA Annual fee with 8.0

lscott — Wed, 31 Oct 2012 12:11:57 GMT

Just wanted to let everyone know that on USDA loans with Calyx 8.0, the USDA annual fee is not being included the payment stream on TIL so therefore your total amount of payments that prints on the TIL is wrong. We have already been on phone with Calyx support who has verified this is a problem and said they will check into it and get back with us. (We have the correct .4 on the MIP screen and the correct $ amount on the fees worksheet) This was 3 days ago. In the time being, you will have to add on calculator the "Amount Financed" and "Finance Charge", white-out the "Total of Payments" and type in the correct amount with a typewriter.

BetaFisch this post is for you

dave1119 — Tue, 13 Nov 2012 15:31:02 GMT

Beta, what can you tell me in regard to fees not calculating correctly on the fees worksheet when a borrower master template is imported?

The only way fees get calculated correctly is by clicking "borrower" button all the way down the worksheet . This seems to force the calculation.

I have recreated templates, cc scenarios and loan programs in 8.0. Still does it.

I have called support line many times and i'm not getting answers.

This problem appears on the board going back several versions

I really just need to know that this is a known problem so I can tell my processors and LO's

thanks,

Dave

Cash to Close/Initial Fee Worksheet and 1003

schristian — Wed, 27 Jan 2010 16:12:07 GMT

After conducting a lenghtly comparison of new GFE and old as well as Initial Fee Worksheet, it appears that the "Total Estimated Funds needed to Close" at the bottom of worksheet as well as page 4 of 1003 is absolutely incorrect. Example: On Intital Fees Worksheet, Estimated Closing Costs are listed as $7910.00, and total including prepaids and reserves is listed as $11,539.00, yet on the Initial Fees Worksheet, the total funds needed to close is only showing down payment plus $4334.95 which makes no sense. I did discover at the bottom of the Initial Fees Worksheet where Est Prepaids are shown, it appears to be taking only the prepaid interest, and nothing for tax and insurance impounds (that yes, are included on worksheet in the 1000 series) and the closing cost figure listed is coming from left field. CANNOT RELY ON THIS FIGURE FOR CORRECT CASH TO CLOSE. Has anyone encountered same situation? Is Calyx working on a formula in all these documents to deliver an accurate cash to close figure? I can email my test file to someone within Point if that will help. Please advise as this is going to make it incredibly difficult to run automated approvals if the cash to close is underestimated as well as put LO's in hot water with their clients.

Changing CC Scenario - doesn't recalculate on fee worksheet

MargaretMiller — Wed, 05 Oct 2011 09:24:04 GMT

I know this problem has been around a while now but unfortunately I don't have time to set on hold with tech support or read thru all these message boards to figure out if there is a fix that I just haven't seen.

Version 7.4 SP6

We use Master templates to create new file. This Master does not include a preselected CC Scenario. So when a new file is first created and the LO selects a CC Scenario everything calculates on the fee worksheet just fine. HOWEVER - if the LO/Processor changes the CC Scenario later the change populates the numbers on the fee worksheet but it won't recalculate the amounts making your bottom line incorrect. The ONLY way to do that is to individually click on each "Paid By" button that has a fee and it forces it to recalculate.

This is a HUGE problem because my LO's are playing with different scenario's, forgetting to recalculate their numbers and then selling the borrower on incorrect figures.

Can anyone please help me with this? :sick:

Improper IFW calculations

Steve Bilbo — Tue, 10 Jan 2012 11:40:21 GMT

We've had several challenges with the IFW not properlly calculating Estimated Funds Needed to Close.

Problem #1-

Currently when we move between Closing Cost Templates, even if we choose the same template, it does not properly calculate. It leaves out the following items:

FHA UFMIP, Prepaid Interest, Insurance Reserve, Tax Reserve, First year Insurance Premium.

The cure is to click the "Borrower" button to show that it is Borrower responsiblity, even though the button is already reading as if it is borrowers expense.

Is there a solution to this error in the works, or is there something I am missing?

Problem #2

When choosing a closing cost template that appears to be properly set up, the Tax Reserve amount is missing from the cash needed calculation on the IFW.

Please provide any guidance or ideas you may have.

Thanks-

When will there be a fix for the monthly escrow issue on the TIL?

bevlove — Sun, 08 Jul 2012 13:07:09 GMT

When will the error be fixed on the monthly escrows printing on the TIL when escrows are waived?

I found the work around in the Knowledge Base, but that is a cumbersome work around for the person disclosing the loan.

Unhanded Error Crashes Point

AlissaMSB — Mon, 27 Aug 2012 16:11:44 GMT

We have an issue where everytime a user tries to create a new disclosure or tries to store something within Point it will throw the attached 'Unhanded Error' and close Point down. Has anyone seen this before or know how it can be resolved?

Thanks!

Originator email address on 2010 GFE

rlucas — Thu, 07 Jan 2010 15:15:56 GMT

Can someone tell me how to input our email address in the email field on the 2010 GFE?

Thanks

rlucas

Verification documents not printing address of Lender

wbowyer — Tue, 13 Sep 2011 14:14:56 GMT

We have one user that is not getting the lender address, phone, and fax numbers to print in "Part I" on the Verification of Employment and Deposit forms. All that is showing up is the processor name and lender name. For all our other users this is working fine, and the settings I've looked at don't seem any different from anyone else. The Field ID shows that this should be pulling from the 1003. I've verified that those fields have been completed, but the form is still missing that data.

Is there somewhere else I should be looking?

Anti Steering Disclosure Loan Amount

Laurie T — Thu, 09 Aug 2012 12:08:29 GMT

In completing the anti steering disclosure, when entering a higher interest rate, should the loan amount be reduced to reflect the additional rebate or should I keep the loan amount static across all scenarios, and the cash to close will reflect negative amounts? Same thing with a lower interest rate resulting in borrower paying discount - if LTV allows for the loan amount to be increased, should it be done so. If you change the loan amounts, it is possible for cash to close to stay consistent but the loan comparison would demonstrate the effects over say, a 5 year time period.

USDA Required Form - Effective 8/1/2012 (Form AD3030)

Tamara West — Fri, 03 Aug 2012 14:23:44 GMT

Does Point plan to add this required form for USDA / RD loans?

_________________________________________________________________________________________________

NEW REQUIREMENT FROM THE USDA

8/1/2012

Effective immediately on all USDA loans: Form AD3030

The USDA has released a new requirement for all loans requesting approval through the program. The attached document, form AD3030, is a certification of the originating TPOs status in regards to felony charges and tax delinquency status within the past 2 years. The form needs to be included in all USDA loans.

Credit Score Disclosure won't print Middle score

rawdr — Tue, 31 Jul 2012 19:32:22 GMT

I have a file where credit was pulled, but the Credit Score Info Disclosure is not printing credit info. When I open the file and go to that form, I see credit info is populated for all three sections for the Borrower. If I change the "Disclose the..." dropdown to Highest or to Lowest, I see the "[b]This score will be disclosed[/b]" show up in that section. If I change it to Middle, the bold text stays where it was and that score is disclosed. If I clear the field, the text goes away and nothing is disclosed on the print out. It will never disclose the middle score. This persists through saves of the file and is occurring on other computers we've opened the file on as well.

How do I make it disclose the middle score?

Interest rate and discount point agreement

lefty — Wed, 25 Jul 2012 17:09:53 GMT

Does Calyx have a form that would cover the Interest rate and discount point agreements?

Borrower Master Template

BillV — Thu, 05 Jul 2012 14:24:33 GMT

When I open a loan file in Calyx, is there any way to tell what Master Template whas used when the file was created?

FHA TIL APR Issue

abrake30 — Thu, 10 May 2012 07:30:53 GMT

We've recently been encountering problems with APR calculations for FHA loans -- appears to be related to total payments are being calculated -- when the monthly MIP drops off. Two different issues have been happening. We use DocMagic for closing documents and then make sure the APR generated by DocMagic matches with APR in Point -- recently all of a sudden (since install 7.6 maybe?) the two are not matching -- they used to but now don't.

The other item that has come up - again FHA loan, Point APR kept changing on a loan and in looking at the audit trail, we're not finding a reason for it to change -- in one case the APR seemed to go up significantly when the fees went down ....but the monthly MIP increased slightly -- less than $4 a month but the APR increased more than .2 --

Bottom line, is anyone noticing any TIL issues?

Thanks!

IRS Form 1098

mauibnd — Wed, 02 May 2012 14:48:52 GMT

Good day,

I am looking for a way to electronicly send the IRS, 1098 statements, as we are a mortgage banker.

I heard there is some third party software out there that will interface with Point. Does any one know of a way to do this or maybe heard of some software that will accomplish this.

Thanks!

Service Disclosure form is not the same for all Data Folders

Devek — Thu, 15 Mar 2012 13:22:15 GMT

We have five branches. Each one has a Data Folder and all are using the same PDS Server for data, forms, reports etc.
When going to the Print menu and picking the Forms tab, we pick the Service Disclosure form. Only in one branch the center option ("we do not service") is pre-marked. In all other branches all three options are blank and the center option needs to be marked on the printed form.

Can anyone provide a solution that will show the check mark in all Data Folders/Branches? We do sync all forms every night....

Thanks.

Padlocks question on Fees Worksheet

dave1119 — Mon, 12 Mar 2012 09:55:25 GMT

On the Fees Worksheet, section e, prepaid charges, the box will sometimes go from "grey" to "white" or "unlocked" to "locked". This causes totals to be miscalculated when a fee is changed. This usually happens when a file is re-opened.

I can understand the theory of "padlocks" on individual fees but for the total prepaids?????????

If a fee does get changed don't we want the totals to add up fees correctly??

I posted a similar question back in June 2011 with no response .....

Tech support said the padlocks would only change by manually clicking them....he suggested it may be due to old templates and to recreate all new templates for 7.5

That is a lot of work and I don't want to recreate all my templates if I don't have to.

Any suggestions ???

Notice of Action Taken

bevlove — Wed, 29 Feb 2012 12:50:55 GMT

We would like for all of our Notices of Action Taken to automatically have Part Two of the form completed. 99.99% of our adverse actions are due to the credit report. We would like to have Part Two of the form to automatically be populated with the option to uncheck that section if for some reason the decision is other than credit.

Combined Transmittal Summary (1008)

vegasloangal — Fri, 27 Jan 2012 12:03:11 GMT

When I print the combined transmittal summary (1008) only the borrower information appears. The co-borrower (who is on a separate 1003) does not show. How do I get the co-borrower's information to show on the combined transmittal?

TIL Payments

Steveb16 — Mon, 23 Jan 2012 13:31:19 GMT

We just recentley updated to 7.5 sp1.

In the past I believe when the borrower was escrowing for only taxes, and this was indicated corretcly on the GFE, that the TIL would only print the taxes. Since the upgrade I am now noticing that if there is an escrow account being set up that taxes and insurance are now printing...

Am I missing something? I can't find anything in the release notes.

Does anyone have any insight on the proper way this should show on the TIL?

USDA Rural Development Funding Fee and Annual Fee

dave1119 — Mon, 19 Dec 2011 12:39:41 GMT

the latest Point update states the funding fee now calculates correctly. By our calculations we can now use 2% to get an accurate upfront guarantee fee. We were previously using 2.04082 to get this to show right.

Concerning the monthly Annual fee, USDA says this is .30%. In order to get my calculations to match USDA i have to show .3061 as the monthly rate.

Can anyone confirm this?

Co-Borrower on split 1003 is still printing single page TIL instead of 2 pages

Devek — Wed, 28 Dec 2011 16:28:48 GMT

The subject line says it all.

When will this be fixed to print two pages?

Credit Score Disclosure Default

BMIC Mortgage — Thu, 22 Dec 2011 10:14:21 GMT

Is there a way to default to the middle score in the credit score disclosure form?

TIL Payment Stream form for our file

RalphC — Sun, 11 Dec 2011 14:26:47 GMT

We are a mortgage banker.

Our QC auditors claim the new TIL law states we are to print out a TIL Payment Stream form on each loan and maintain it in the file for auditing purposes, and that it is not to be disclosed to the borrower.

I cannot locate this form in Point.

Can someone help me out on this?

Thanks.

Credit Score Disclosure

K51 — Thu, 08 Dec 2011 16:09:42 GMT

The form is complete for both borrowers on the screen, but when we print, we only get the primary borrower's disclosure. Is there a fix for this?

Equal Opportunity Act Disclosure and Servicing Disclosure Statement

bevlove — Fri, 02 Dec 2011 15:50:18 GMT

With POINT 7.5, the release notes indicate that the Equal Credit Opportunity Act disclosure and Servicing Disclosure Statement no longer include co-borrower name.

Why was this change made?

Is there an option that we can set a default to include the co-borrower name?

I can not locate the updated HUD-92800.5b

bevlove — Fri, 21 Oct 2011 11:03:46 GMT

I have not been able to locate this updated form. We have 7.4SP6 Build 1343.154 and the HUD-92800.5b has a HUD revision date of 09/2004. When will the updated form be available? HUD issued a notification to lenders in August that the form must be used beginning 11/01/2011.

USDA Rural Development New UFFF and monthly fee for Oct. 1

dave1119 — Tue, 30 Aug 2011 12:41:11 GMT

Rural Development loans will change the upfront funding fee to 2% (which is 2.04082 in Point) and collect a monthly fee of .30% for the life of the loan.

The problem is Point calculates the .30% monthly fee on the base loan amount and USDA calculates it on loan amount including the upfront funding fee.

Any thoughts?

credit score disclosure form

Sterling — Mon, 05 Sep 2011 16:32:44 GMT

since i updated to the latest point version I cannot see the credit score disclosure form in the print menu. can somebody tell me where it got moved over.

thanks

Tino

Disable forms from being used and seen.

slojay00 — Tue, 06 Sep 2011 16:56:14 GMT

Wow, I can't beleive I was able to log into the forum. Usually I get a service error, hope I don't get it as a post this . . . .

Is there a way to disable users from seeing and printing certain forms within Point/Point Central.

Specifically, we use 4506T and not 4506, would like to limit a few errors of people printing and using the wrong form that we don't need or use. Not to mention a few other ones, TX, FL . . . .

Thanks

GFE for ARM is missing change month

Prolender — Thu, 14 Apr 2011 16:22:17 GMT

For a 5/1 ARM, I have already set up the TiL to show a change after 60 months. However, the section on the GFE that says "Can Your Interest Rate Rise" has a part that should say "The first change will be in 60 months", but instead it says "The first change will be in (blank)"

In Point, the section where the "60" would go is greyed out and can't be changed manually.

Is this because the TiL shows that the rate will not be higher in 60 months, since right now the index + margin is less than the floor rate (note rate)?

How can I get that "60" to show up?

Statement of Credit Denial

jen — Wed, 29 Jun 2011 11:51:06 GMT

Does anyone know when the new Statement of Credit Denial will be available to view based on the reg. below?
The Federal Reserve Board and the Federal Trade Commission (FTC) released the proposed regulations regarding the credit score disclosure requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The statute requires creditors to disclose credit scores and related information to consumers in risk-based pricing and adverse action notices under the Fair Credit Reporting Act (FCRA) if a credit score was used in setting the credit terms or taking adverse action.

The new requirements will take effect July 21, 2011 and will affect creditors who use a credit score in taking adverse action or in making a risk-based pricing determination based on information in a consumer report.

Texas Residential Mortgage Loan Disclosure Form

Boboso — Tue, 09 Aug 2011 13:23:07 GMT

When this form prints, the Originator License number field doesn't get populated with the license number we have entered in the Utilities/Company Defaults and/or Utilities/Drop Down Lists/Originator. Is there a fix/workaround?:)

GFE-Adjusted Origination Charges - unwanted check box

PSchrader — Tue, 19 Jul 2011 10:35:03 GMT

Just installed SP4 & SP5. Since the installation, a check has appeared in #2 of the Origination Charge section of the GFE. We cannot remove the check as it is grayed out. This has effected all of our templates as well as our files in process.

Customer Service has suggested recreating all of our Master Templates. I hesitate to do this since it will not correct our files in process. Additionally, if a Processor accidentally checks a box on a GFE for a file from a newly created Master, the check cannot be removed. I have also tried importing a new Master into an existing file. Didn't work.

We are currently using white-out. Has anyone experienced this? Can anyone suggest a work-around?

Thanks for any suggestions.

7.4SP5 Update to Right to Receive Copy of Appraisal Report - Grammatical Error

Tamara West — Wed, 20 Jul 2011 12:52:11 GMT

I looked at the updated Right to Receive Copy of Appraisal Report. The first sentence has an error. It says:

"The Equal Credit Opportunity Act (Regulation B) requires creditors to provide applicants with a copy of the appraisal report used in conjunction their loan application."

How about adding a "with" in there?

Thanks!