Calyx Point 7, User Manual

Page: 278 / 537

260 Calyx Software
Banker functions
d
Enter the dollar amount of the down payment to be made by the borrower at
closing in the
Down Payment
field.
5
Complete the Gain/Loss on Loan section.
a
Enter the dollar amount of the lender charges from the Estimated HUD-1
Settlement Statement that was signed by the borrower at closing in the
Total
Lender Settlement Charges from Est. HUD ‐ 1
field.
Point calculates the
Total Loan Revenue
field by adding the settlement charges from
the HUD-1 statement and the net lock price. This revenue is retained by the lender
from fees that are charged to the borrower.
b
Enter the dollar amount of loan commission that was paid to the loan originator in
the
Origination Commission
field.
The
Warehouse Costs
field is populated from the
Total Estimated Warehouse Cost
field
in the Warehouse Advance and Repayment screen.
c
Enter any additional lender costs in the
Other Direct Costs
field.
d
Enter the cost to the lender of doing business in the
Allocated Costs
field.
This figure is usually calculated by dividing the total budget by the budgeted
number of loans to produce the per-loan cost of the lender’s operations budget.
This figure can be calculated differently depending on the lender’s business
model.
Enter this figure manually or use a template to avoid repetitive data entry.
e
Point calculates the
Net Gain/Loss on Loan
field by subtracting the
Origination
Commission
,
Warehouse Costs
,
Allocated Costs
, and
Other Direct Costs
from the
Total Loan Revenue
.
6
Complete the Dates section.
Most of these fields are already populated from information that was entered in other
Point screens. In the fields that are not prepopulated, enter the date when the event
occurred.
Submitting and tracking warehouse lender loans
The Warehouse Advance & Repayment screen is used by the warehouse
administrator to enter the information that is provided to the warehouse lender. The
warehouse administrator also uses this screen to record the date and amount of the
repayment of the warehouse advance from the proceeds of the loan sale, and to track the
warehouse costs of each funded loan between the warehouse advance date and the
warehouse repayment date.
To use the Warehouse Advance & Repayment screen:
1
Open a borrower file.
Related information
• Refer to Generating the Mortgage Identification Number
automatically , on page 64, for information about automatically
generating the MIN.
• Refer to Chapter 14, Templates , for information about creating loan
templates.