Calyx Point 7, User Manual, Page: 281 / 537

Point User Guide 263
Submitting and tracking warehouse lender loans
The
Net Loan Amt
field is the amount that the lender must provide to the closing
agent. This amount is calculated by subtracting the warehouse advance from the total
loan amount.
c
Enter the value of the subject property in the
Collateral Value
field.
The
Closing State
field is the state where the loan will close and is populated from
Borrower Information screen.
The
Est Warehouse Gross Cost
field is calculated by using the following formula from
the
Advance Rate
(AR),
Wire Amount
(WA),
Estimated Repayment Date
(ERD),
Advance Actual Date
(AAD), and
Advance Fee
(AF) values:
((AR*WA)/360)((ERD-AAD)+AF)
The
Est Interest Earned
field is calculated by using the following formula from the
Loan
Amount
(LA),
Loan Interest Rate
(LIR),
Estimated Repayment Date
(ERD), and
First
Payment Dates
(FPD) values:
((LA*LIR)/360)(ERD-FPD)
The
Est Warehouse Net Cost
field is calculated by subtracting the
Estimated Interest
Earned
from the
Estimated Gross Cost
.
d
Select the type of warehouse advance that the lender is requesting from the
warehouse lender from the
Advance Type dropdown list.
e
In the
Commitment No
field, enter the number that was provided to the
warehouse lender by the lender that proves that the lender has obtained an
investor’s commitment to purchase the loan after it is funded.
7
Complete the Repayment section.
If not prepopulated, enter the amount that was wired to the warehouse lender by the
lender or its assignee from the loan sale proceeds in the
Amount
field.
The
Actual Interest Earned
field is calculated by using the following formula from the
Loan Amount
(LA),
Loan Interest Rate
(LIR),
Actual Repayment Date
(ARD), and
First
Payment Date
(FPD) values:
((LA*LIR)/360)(ARD-FPD)
The
Actual Warehouse Gross Cost
field is calculated by using the following formula
from the
Advanced Rate
(AR),
Wire Amount
(WA),
Actual Repayment Date
(ARD),
Advance Actual Date
(AAD), and
Advance Fee
(AF) values:
((AR*WA)/360)((ARD-AAD)+AF)
The
Actual Warehouse Net Cost
field is calculated by subtracting the
Actual Interest
Earned
from the
Actual Gross Cost
.