Point User Guide
113
Entering assets and liabilities
13
When you are finished entering real estate, click
Save & Close
.
Use the
Insert
,
Edit
, and
Delete
buttons to add, change, or remove entries. Use the
Move Up
and
Move Dn
buttons to move entries up or down in the list.
Entering liabilities in a different name
If a borrower was issued credit under a different name than the name they are using on
the
Loan Application
, for example, a married woman had credit in her maiden name,
enter the account information at the bottom of page 3.
To enter liabilities in a different name:
1
Open page 3 of the
Loan Application
and go to the bottom of the page.
2
Enter the
Alternate
Name
the borrower used, the
Creditor
Name
, and the
Account
Number
.
Matching liabilities to real estate owned
Use the matching liabilities function to match real estate with the corresponding loan on
the liabilities list. This feature is most useful when a borrower owns multiple properties and
has multiple loans because it identifies which loans are associated with which properties.
You can match a property to multiple liabilities.
To match liabilities and real estate owned:
1
Open page 3 of the
Loan Application
and go to either the
Liabilities
section or the
Schedule of Real Estate Owned
section.
2
If you are in the
Liabilities
section, click the
Match to REO
button. If you are in the
Schedule of Real Estate Owned
section, click the
Match to Liability
button.
Related information
Refer to Chapter 8,
Verifications
, for information about the
Verification
of Mortgage/Rent
and
Verification of Loan
screens.
