Calyx Software Message Board / Calyx Point / FHA / VA

92900-A question

egrant — Thu, 03 Sep 2009 15:11:05 GMT

I think there is a way to save lender/sponsor ID #'s and addresses in this form, but I cannot figure out how...Is there a function to do this?

Where is "Streamline Refinance Without Appraisal - Maximum Mortgage Worksheet # 3"

jstrauss — Tue, 06 Mar 2007 09:27:16 GMT

Hi,

Does point contain the worksheet for calculating the max mortgage amount when doing a streamline?

"Streamline Refinance Without Appraisal - Maximum Mortgage Worksheet # 3"

Found at: http://www.hud.gov/offices/hsg/sfh/circ/den/wsheet3.pdf

Thanks
Jay

GFE 2010 Origination Charges and YSP

gbracht — Tue, 24 Nov 2009 17:06:59 GMT

I'm trying to review a past loan that was a VA refinance and see how I would set this file up in Point's old GFE to import properly into the GFE 2010 and show my true compensation properly. VA loans restrict you to 1% origination fee, but I did receive 1.66% YSP for the loan and from that I did pay some costs for the veteran through escrow. But, under the new GFE, I don't appear to have the option to include the 801 origination fee plus the YSP together on page 2, para 2, top box in order to have it paid to me with the borrowers' permission and understanding. Point takes the YSP amount an imports it directly to credit to the borrower. How do I override this on the old GFE and get it brought into the proper amount in para 2? Thank you, I'm happy to share my examples if need be. I'm trying to set this up properly and then share with the VA office in Denver for their reveiw too. Appreciate any and all help.

USDA Guaranty Fee

jholmstrup — Wed, 30 Dec 2009 16:44:47 GMT

Since installing the Point 7.2SP1, we notice we are unable to save the upfront Guaranty fee on USDA loans. We can add it, save, but once you click out of file - or try to import into GUS - the amount disappears.

Any ideas?

HUD/RESPA

BT — Fri, 04 Dec 2009 13:30:05 GMT

HUD has posted a "Plain English" PowerPoint on Hud.gov for RESPA
[url]http://www.hud.gov/respa/respa-plain-eng120309.ppt[/url]

VA Loans and GFE 2010 for purchase

gbracht — Thu, 07 Jan 2010 11:40:14 GMT

Trying to set up my VA loan templates and handle the closing costs that the seller must pay by law, but unclear on how we account for those on the new GFE 2010 and whether we ignore them, but they still have to be paid by the seller or do we now show them in the new GFE 2010 and then count them as seller paid, but then those items (some of which are candidates for inclusion into the APR calculation) have to then be covered by seller contirbutions, etc. and that may not necessarily match with purchase and sale exactly. We've asked VA in Denver how we're supposed to deal with this new GFE and they tell us that they are waiting on Mother VA for answers. Anybody else have recommendations? Can't tell my clients I can't do their loan because the government didn't think this change through well enough. Thanks in adance, Gary

HLNA field

ChrisSauerwein — Fri, 21 Aug 2009 15:00:36 GMT

Ok, not sure if this is the right forum to put this in, but it's an FHA related issue so here goes...

We've gone back and forth on what loan amount to HMDA report on FHA loans with UFMIP and the majority (not consensus) is the "w/ MIP, FF" figure and not the base loan amount. This is posing a challenge for my HMDA reporting as using that field instead of the HLNA field is causing the loan amount to not come out in 1000's.

1. Has anyone else gone through this and do they use the higher loan amount? (or better yet, have documentation that it is the wrong figure to use)... or

2. Does anyone have a recommendation on how to get my report output to be in 1000's?

Thanks in advance.

Origination % doesn't include the MIP

njmink — Thu, 07 Jan 2010 12:15:45 GMT

How do you set point to include the MIP as part of the origination % on the GFE. We are trying to avoid calculating the ysp manually. Anyone know how to do this?? Please email me njmink@mybrink.com

Thanks

Nick

S.A.F.E - NMLS & License Number

keystone — Thu, 03 Sep 2009 09:26:14 GMT

I can't seem to locate the Point 7.1 release notes. I'm interested in the following:

S.A.F.E. Mortgage Licensing Act
In order to comply with the latest FHA requirements effective on or after January 1, 2010,Point 7.1 includes applicable input fields and prints selected NMLS and license numbers onthe top of all forms.

... is anyone able to explain the above? Furthermore is their a location that the bank will need to enter thee numbers, maybe in defaults? I'm just the IT guy - can someone try to explain the above so I can take to upper management.

FHA 92900-A Addendum

egrant — Thu, 03 Sep 2009 14:39:00 GMT

I am trying to find out how to save lenders on this form so that I dont have to re-enter their info every time. Is there a function that does this?

FHA MCAW 92900WS

VBurk - Underwriter — Wed, 12 Aug 2009 10:54:23 GMT

When I use the MCAW 92900WS to calcuate a FHA to FHA Refinance I am able to balance the loan for the borrower to bring -0- to the table. However when I go to page 4 of the 1003 it is not accurate and showing the borrower having to bring cash to the table to close.

Amort Schedule: FHA PMI cancels at 78% LTV or 60 months... which ever comes last -point cannot logically pick the correct term

ima2nr — Thu, 23 Jul 2009 22:34:30 GMT

FHA PMI cancels at 78% LTV or 60 months... which ever comes last

how do I get the AM Schedule to accurately reflect this?

(example 1) if the borrower has a 60% LTV, they will have to pay the PMI monthly fee for 60 months.

(example 2) if the borrower is at 95% LTV, per the AM schedule it will take approx 11 yrs to hit 78% LTV when the PMI bust be automatically dropped. this is more than the 60 month minimum required.

In the 'Mtg Insurance' screen the L/O can choose the monthly premium% for xx of months and 'Cancel at xx.000%'

(example 3) this one is not as cut and dry... the new loan is at 84% ltv... which will come first? the 60 month min. or will the principal be reduced to 78% longer than 60 months?

Point should be able to determine the correct answer and populate the AM schedule correctly.

can you please tell me how to "set it up" if I've missed something?

thank you

YSP calculated off of Base Loan Amount?

Pat Slattery — Tue, 30 Jun 2009 15:42:04 GMT

Hi, shouldn't the fields in the rate lock screen be calculating the YSP based on the total loan amount and not the base loan amount?

I'd appreciate any comments or help.

thanks, Pat

VA Loan Analysis

tomtrahan — Mon, 15 Jun 2009 12:53:15 GMT

VA Loan analysis only shows 7 liability spots in section D. If there are more than 6 liabilities, spot 7 just shows all other liabilities and give the grand total of monthly payments and outstanding balances. How do you get an additional page to print the details for these liabilities?

I am pretty new to this, so if this is a dumb question, just please answer it and have a good laugh on me.

Thanks

Cash-to-Close value incorrect on Loan Comparison Alternates

rawdr — Wed, 01 Apr 2009 18:08:00 GMT

I have tested this in both Point 6.2b and 7.0.

I have a loan where I've entered a Mortgage Insurance Premium Refund adjustment. If you go to the Loan Comparison screen, the active column shows the correct Cash to Close which takes into account the refund. After pushing those active values into one or both of the Alternative columns the value appears correct until you leave and come back to this window, or print it. (i.e. Once Point gets 'refreshed' and calculates the Alt values over again.) The Cash to Close value displayed in the Alternate columns is calculated without subtracting the MIP refund.

You can even swap this incorrect value back into the active column, but Point recalculates to the correct value as soon as you switch screens or print or anything. Thus printing a loan comparison will shows a change of thousands in the Cash to Close when it should just be a few bucks.

How can I print a loan comparison that takes into account the MIP refund in all scenarios?

VA Loan Summary

keystone — Wed, 08 Apr 2009 08:00:29 GMT

Hi,

I understand that this form will be updated due to a compliance change. It is required to be in use by May 1st.

How will the form be pushed? Will users need to manually go out and download an update - will it push automatically when they log in with a network connection - etc?

Who will be eligable for this? User's on 6.2 or only users on 7.0?

I'm asking because we currently are on 6.2B - and do not plan on upgrading to 7.0 until May 8 - this leaves us out of compliance for 7 days if the patch can not be applied to 6.2.

Please advise.

DATA NOT SAVING

GAMBOA527 — Tue, 10 Mar 2009 15:28:31 GMT

Does anybody else have the same issue i'm having with the employment that wont save

FHA Transmittal Summary - Streamline w/ & w/out appraisal

ACollins — Mon, 09 Feb 2009 13:34:07 GMT

We've been suspended for the FHA Transmittal being incompleted correctly from Point. When the loan is an FHA Streamline w/ or w/out an appraisal the investor says the No Cash Out box should not be checked. We are unable to uncheck Cashout or No Cash Out box under Borrower Information. Do you know if this is accurate? Is there a fix or a work around?

203k Rehab Cost

keystone — Wed, 08 Oct 2008 11:09:22 GMT

Hello,

Can anyone help? A LO came to me with this issue and she is a pretty knowledgable LO. I am however, just the IT guy. We have just updated from 5.4 to 6.2 and she reports that this was not an issue in 5.4 but now is that we moved to 6.2

On her FHA loan on the GFE if you scroll to the bottom and click on CC Adjustments for FHA/VA it has an amount of 15,375 for the 203k Rehab and its a positive amount. However, when you print the GFE it shows the amount of 15,375 as a negative. Why the difference? My LO tells me the positive amount is right and it should show like this in both places.

See my screen shots.

Need Help 203k

MartyMar — Mon, 15 Dec 2008 14:29:13 GMT

Hello,

Can someone give me some tips on structuring a 203k loan in point. The Loan Amount and down payment don't match. Please help thanks.

hud reo $100 down with repairs

beckys — Mon, 15 Dec 2008 13:27:56 GMT

can someone help me with inputting these types of deals into the system. i need claification on what to put as my sales price...is the cost plus the rehab and any closing costs or just the cost and where do i put in all the other figures...this would also apply i think to the 203k loans as well.

Combined 92900-LT display issue

FHA Underwriter — Thu, 09 Oct 2008 11:04:32 GMT

When I use the "Combined 92900-LT" I am having an issue with the debts info not being correct. Under the Debts/Obligation section in regards to total installment debts. The monthly field appears to reflect the balances of the total installment debts balances and not the total monthly payments. The ratios are calculating correct but the monthly payments are not reflecting the correct amount. Anyone know why? Or how to fix it? I just changed my debts to all Revolving accounts and the issue is gone. Thanks for the help.

Monthly Insurance not printing properly on 1003

lball — Thu, 03 Jul 2008 10:21:18 GMT

On FHA loans only, when we have POINT calculate the monthly insurance amount it shows properly on the screen for all forms.

HOWEVER, when we print the 1003 the number changes and we have to handwrite it in. After the 1003 prints the screen then changes to the wrong number in all areas. We have to go through a system of re-choosing to calculate it on certain screens to get it right. Is there a fix to this???

GFE Issues

bekki — Tue, 05 Aug 2008 08:45:08 GMT

We have noticed with the new point that some of our users are having issues with the system automatically updating the GFE's bottom line when figures are adjusted. We have found that if we hit the "lock" buttons that this will adjust the figures. We don't usually lock in the amounts, and have not had to do this in the past, could this be from the templates or is this the way the new GFE has been set up. Also, we have had problems when adjusting our MIP for risk based premiums, the amounts are not being adjusted through out the file. the users are having to go in and manually make the adjustments on the GFE and 1003. Any suggestions, ideas? is anyone else having this problem as well?

HUD 92900A

Point User — Wed, 13 Feb 2008 13:23:09 GMT

When will the new HUD 92900A be ready for download into Point (OMB approval expires 11/30/2010)? The version in Point has an OMB expiration date of 09/30/2007. Our lenders are requiring the new form and it is not available in Point version 6.0b.

Or could it just be posted to your website for individual download?

FHA 1008

Mitch Oliveira — Mon, 14 Jul 2008 07:54:06 GMT

When will Calyx update and provide the new 1008 and replace the MCAW?

FHA Non-Occupant Co-Borrower

Dtanner — Tue, 06 May 2008 17:14:26 GMT

I have been told to use 2nd home for FHA Non-Occupant Co-Borrower so the ratio's come out correctly. For some reason my ratio's are coming out way to high. By adding all debt's including current housing & new PITI I should be at 48% & the ratio button below tracking on the primary borrower is showing 71%. Any help would be great.

Thanks

Dtanner

FHA

pointdata101 — Thu, 24 Apr 2008 15:47:01 GMT

I have a loan amount of 404,000 plus the ufmip total loan amount is 410,060. How can I show that the closing cost are being financed? my gfe shows that the customer is short to close?

MIP Funding Fee qeustion

Markitup — Mon, 21 Apr 2008 14:29:25 GMT

I'm confused on how point is handling the Financed MIP.

On the 1003 under Details of transaction.
Line G has the MIP Funding fee
On Line N this amount is added to the loan (they're financing it)
On Line O you have the loan amount.

On the GFE under Total Est Funds To Close:
Loan Amount is the same as Line O from the 1003 and says Base Loan amount plus UFFMIP/FF Financed
The next line is UFFMIP/FF Financed and the amount is ADDED to the costs to close.

Why is the MIP added again as a closing cost when it is already being financed in the loan amount. Isn't it charging twice for it (financed amount plus funds to close??)

What am I missing here?

Any help would be greatly appreciated.

Informed Consumer Choice Disclosure Notice

jkenny — Wed, 20 Feb 2008 06:47:17 GMT

We had a auditor notice an error on the Informed Consumer Choice Disclosure Notice form provided by Calyx - Form ccdisc.frm dated 1/01 - The last statement reads as follows:

If you were NOT (Not is in Italics) charged a up-front premium, as for example on condominiums, you will pay the monthly premium for the life of the mortgage.

Condos for FHA now do pay the upfront, so this statement needs to be removed.

Can this form be fixed and posted to the support website? Thanks.

Fannie Mae 1009 Form

mike — Wed, 03 Oct 2007 13:12:26 GMT

I need to fill out the Fannie Mae 1009 application form. I can't find it in Point and was wondering if it exists or not. If not, will it be added soon?

FHA MCAW

melrush — Thu, 02 Aug 2007 09:49:43 GMT

We will be unable to use Point, as we currently are using EMPOWER as our LOS. Does anyone know where we can purchase software for the FHA MCAW that will automatically do the calculations, including downloading the most current max FHA loan limits per each locale? It can be standalone software...does not have to integrate into our empower system.

Line 10a of MCAW - Refinance

jmohr — Tue, 04 Sep 2007 16:07:04 GMT

This appears to automatically pull all the debts to be paid off from the debt consolidation screen - when the form requires that you only list the first mortgage lien. When I try to manually chnage it, the change reflects, but then when I exit and re-enter the file it shows the old #, pulled from the debt consolidation screen. Help!

92900-Addendum to Application

bekki — Wed, 09 May 2007 08:07:50 GMT

i have read the user guide and also reviewed information within the message board and i still can't seem to solve my problem. We just upgraded to the Point 5.4. I am having issues with the 92900 and a few other FHA forms that are printing an old address. I have gone thru the folders and chk. my utilities and they all reflect the correct address. I am not sure what i am missing. Any suggestions would be great!

FHA-Origination Fee calculating on total loan amt in 5.4

Point User — Tue, 01 May 2007 11:19:58 GMT

I just noticed that in version 5.4, Point is now calculating origination fee based on total loan amount instead of base loan amount. What happened?

Multiple Sellers

mhornblower — Wed, 31 Jan 2007 08:50:23 GMT

I have two sellers on a purchase transaction. They both need to be on the above form Amend Clause/Realestate Certif. I cannot find a place to insert the 2nd seller so that their name appears on the form. Agent list only has 1 seller - if I put it below in the blank areas it does not show on form...

How can I get them on the form.

How does Point calculate the monthly MIP premium?

susanh — Fri, 22 Dec 2006 13:55:23 GMT

I am unable to get the monthly MIP premium amount in Point to match the amount calculated using HUD's SFPCS Periodic premium calculation. Here's the link for the calculation method dictated by HUD:

http://www.hud.gov/offices/hsg/comp/premiums/sfpcalc.cfm

The table in the example provided by HUD is dated and I do use the current .0150 UFMIP factor in my calculations. Is there a more current calculation than the one referenced above?

Veterans purchasing w/FHA loan

HOMETOWN GAL — Fri, 09 Jun 2006 08:57:37 GMT

I am processing my 1st FHA loan to a Veteran and I can't figure out how to get the loan keyed in properly to allow the 3% statutory investment requirement to be reduced (line 10d) on MCAW. Does anyone else have experience with these loan types? PP is 189,700 and I have put 2.25% in DP on borrower screen and need to have line 10d on Mcaw changed to 2.25%, correct? Does the section of the Housing Act drop down need to be changed--I currently have 203b?

FHA upfront MIP not calculating correctly in 5.2

dbarrett — Wed, 04 Jan 2006 15:17:50 GMT

A couple of my co-workers have reported today that the FHA upfront MIP is not calculating correctly in 5.2. On the Details of Transaction section of the 1003, the upfront MIP is not being added to the costs. A credit is given, but no charge. Also, on the GFE, the MIP doesn't show up at all. The only way that we've been able to get around this, at the moment, is to "lock" and manually input the upMIP on pg 4 of the 1003 to get it to calculate correctly.

Is there anyone else out there who is having this problem?

The VA appears to be working correctly.

VA Loan Comparison doesn't calculate correctly

rjshama — Thu, 08 Sep 2005 11:05:48 GMT

We've noticed that the built-in VA Loan Comparison form isn't calculating correctly and doesn't appear to be worded correctly either. The "Existing Loan" and "Proposed Loan" look like they need to be switched. "Time to Recoup Costs" lists a monthly payment increase which is actually a payment decrease, it shows up as a negative number and the recoup costs field ends up blank. If I switch the loan info around I get the right calculations but the form lists the savings as an increase instead of a payment decrease.

Am I missing something here or does this form need to be fixed? Thanks! :D