136
Calyx Software
Disclosures and other forms
16
Click
Calculate
to populate the payment schedule and save the file.
Completing the High Cost Loan Disclosure (Truth-In-Lending Section 32)
When a transaction is subject to Regulation Z Section 32 disclosure requirements, you
must give borrowers the
High Cost Loan Disclosure
three business days prior to
closing.
This screen is used to inform borrowers of the amount of the loan, the annual percentage
rate, and their monthly payments.
To complete the
High Cost Loan Disclosure
:
1
Open a prospect or borrower file.
2
Open the
Truth-in-Lending (Section 32)
screen from the
Forms
menu, the
shortcut toolbar, or click the
Section 32
button in the
Truth-in-Lending
screen.
Most of the values on this form are prepopulated.
3
Verify that the values are correct and save the file.
State-specific disclosures
Several state-specific forms are provided with Point. These include:
•
Application Log (NY)
•
Brokerage Contract (FL)
•
CA Fair Lending Notice Disclosure (CA)
•
Lender Disclosure (FL)
•
Mortgage Broker Disclosure (TX)
•
Mortgage Loan Disclosure Statement (CA)
•
Pre-Application Disclosure (NY)
Some of the state disclosure forms require no input, therefore, an interface is not provided
for those forms.
With the exception of the
MLDS
, access the state disclosure forms that require input from
the
Forms > State Disclosures
menu or the shortcut toolbar. Access the print-only forms
from the
Forms
tab in the
Borrower Forms
dialog box.
Access the
MLDS
directly from the
Forms
menu or the shortcut toolbar.
Related information
•
Refer to
Good Faith Estimate
, on page 119,
Borrower and prospect
information screens
, on page 151, and Chapter 5,
Loan Application
,
for information about these screens.
•
For more information about the
Initial Arm Disclosure
and
completing the
Rate Adjustments
and
Payment Adjustments
sections, refer to
Initial ARM Disclosure statement
, on page 128.
•
For more information about calculating mortgage insurance, see
Calculating mortgage insurance
, on page 170.
•
For more information about creating loan program templates, see
Loan program templates
, on page 353.
Related information
For information about printing forms, refer to
Printing and previewing
forms
, on page 86.
