Calyx Software Message Board / Calyx Point / Custom Forms / Florida Mortgage Broker Contract - After 10/1/07 / Latest Posts

RE: Florida Mortgage Broker Contract - After 10/1/07

PTLady — Fri, 21 Sep 2007 09:14:55 GMT

The following email was sent by Calyx.... so my guess is they will be addressing the issues soon.

Point Software Update 6.0a will be available for download, free of charge to all current Point subscribers, later this month. The update provides Point 6.0 owners with compliance solutions for doing business in the states of Washington and Florida, as well as other updates to the program.

Calyx will notify you via email when the download becomes available, and will provide instructions for downloading and installing the update. Please watch for this important email.

RE: Florida Mortgage Broker Contract - After 10/1/07

tennell — Thu, 20 Sep 2007 10:01:45 GMT

You will need to update to Point 6.0. On September 24th, there will be an I-Update, which will address the issues you mentioned. There is also a revision in 494 wherein the good faith estimate must also show the reciptient of each fee disclosed on the HUD-1. For example, line 1101 Closing Fee Payable to ABC Title Company $200.00. The new statute does allow you to use generic terms such as Lender, Broker, Appraiser, Title Company as the payee so you don't have to type the actual name of each beneficiary on the GFE. I sent a copy of the new revisions to 494 to Point on June 19 (When they were signed into law.) I am sure I was not the only one. In know the dollar amount issue is being worked on I have no confirmation if the other requirements have been met. If not, then a custom form will be required.

Scott

RE: Florida Mortgage Broker Contract - After 10/1/07

JohnP — Fri, 14 Sep 2007 06:49:50 GMT

The easiest way to keep spacing is to use tables.

If the field you are entering is in the middle of a paragraph and tables wont work, hit <alt> <f9>. THis will allow you to see where the merge field ends so you can make sure that your text around the merge field has consistent spacing.

Florida Mortgage Broker Contract - After 10/1/07

JWean — Thu, 13 Sep 2007 12:40:26 GMT

Will Calyx be providing an updated Florida Mortgage Broker Contract to comply with the requirements of FS 494 / SB 1824?

The Statute requires the exact Dollar figure of both front and YSP to the consumer within 3 days of application and to be exact to closing terms within 3 days prior to closing.

Presently Calyx's Florida Mortgage Broker Contract will fill the Mortgage Brokerage Fee as a flat dollar figure; however, the Lender Comp. (Yield Spread Premim) is still in a Range.

We are presently using Point 5.4

I'm assuming we will have to create a Custom Form. Obviously we have all created a lot of custom forms the piece I have trouble with is being able to get the document spacing to remain the same no matter what length the inserted field is. Does anyone have any help on that?