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Calyx Software
Disclosures and other forms
•
If there is a prepayment penalty, but it does not conform to the scenario described
in the Prepayment penalty option, select the Other option and enter the details of
the penalty.
8
Complete the
Taxes and Insurance
section.
a
If the monthly loan payment will include an impound account payment, select the
first option.
b
Select the check boxes for each fee that is included in the impound payment.
The total amount of the monthly impound payment is automatically calculated.
c
If an impound account is not established or if the borrower is making some
payments directly, select the second option.
d
Select the check boxes for the fees that the borrower is paying directly.
The annual total of borrower-paid fees is automatically calculated.
9
Complete the
Liens Currently on Borrower’s Obligated Property
and
Liens that May
Remain on Property After Loan
sections.
a
In the
Liens Currently on Borrower’s Obligated Property
section, enter the
lienholder’s name, the amount owed, and the priority of any liens against the
property (excluding the subject loan).
b
In the
Liens that May Remain on Property After Loan
section, enter the
lienholder’s name, the amount owed, and the priority of any liens against the
property that can remain after the loan is closed.
