Separating unmarried applcants on separate 1003's

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iciclesmelt

Posted 3/20/2006 6:48:31 AM

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Last Login: 1/19/2007 6:53:17 AM
Posts: 6, Visits: 35

does calyx point have a way to separate applicants who are not married onto two separate 1003's but remaining within one point file.

obviously if i create two point files to accomodate the lenders requests all of my reports will be off. While this doesn't happen everyday, it happens often enough to create problems.

How is everyone else handling this?

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Post #2848

ma_soldier

Posted 3/20/2006 7:11:20 AM

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Last Login: 3/20/2006 7:50:48 AM
Posts: 3, Visits: 14

When you have a non married borrower and co borrower you can start by filling in the info for the primary borrower. Fill in all the info you would normally take when doing an application.

Then on the top of the screen go to the Bor/co Borrower dropdown. Click on co -borrower 1. Then import information from the first loan. This will import items like loan amount note rate etc. Then fill in the second borrowers info as well. Then go back to the first borrower and the choose the combined transimital summary. This will give you the total DTI for both borrower and co borrower. Hope this helped.

mortgagesolution@comcast.net

Post #2849

iciclesmelt

Posted 3/27/2006 9:50:43 AM

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Last Login: 1/19/2007 6:53:17 AM
Posts: 6, Visits: 35

This is not what I was talking about. I'm asking if I have to create two point .brw files in order to separate non-married bwr's. For instance, I had a brother and sister who were buying their parents house. The lender came back and told me since they are not married I would need to put one borrower on a 1003 and submit 2 1003's to underwriting.

Isn't this crazy? Has anyone else experienced this and found a way around it?

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Post #2897

BetaFisch

Posted 3/27/2006 10:10:39 AM

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Last Login: Yesterday @ 4:06:35 PM
Posts: 1,183, Visits: 9,261

the previous post is what you are talking about. you print the 1003 from the main brw file and the co-brw file.

Disclaimer: This post carries no explicit or implied warranty. Nor is there any guarantee that the information contained in this post is accurate. It is offered in the hopes of helping others, but you use it at your own risk. The author will not be liable for any damages that occur as a result of using this post. Crazy

Post #2898

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