Calyx Software Message Board / Calyx Point / FHA / VA

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?

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

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