Point User Guide
281
Subordinate financing
The
Second Mortgage Payment
dialog box is displayed.
5
Enter the information about the second mortgage and click
OK
.
6
Create a new second file or link to an existing file.
To create a new file:
a
Select
Create Second Mortgage File > Create New Second Mortgage
.
b
Name the second file if Auto File Naming is not enabled and click
Save
.
The link between the two files is established. A dialog box prompts you to open
the second file.
To link to an existing file:
a
Select
Create Second Mortgage File > Link to Existing Second Mortgage
.
b
In the
Search & Select a File to Link To
dialog box, enter the search criteria to
help you locate the file to which you want to link.
c
Select the file from the results and click
OK
.
Point synchronizes the two files. Some of the data in the second mortgage file
might change.
d
Click
OK
in the
Confirmation
dialog box.
Creating second mortgages for an investment property or second home
To create a second mortgage for an investment property or second home:
1
Open a borrower file.
Related information
•
For more information about linking loans, refer to
Linking first and
second mortgage files
, on page 80.
•
Refer to
Borrower and prospect information screens
, on page 151,
for more information about the
Borrower Information
and
Prospect Information
screens.
