Point User Guide
143
Disclosures
10
Select the
may
,
will
, or
will not
check box to indicate whether the loan is being
funded with broker-controlled funds.
11
Complete the
Name
of
Broker
,
Broker’s
Representative
, and both
License
#
fields.
12
Select
File > Save
.
Completing the MLDS for a non-traditional loan
The non-traditional Mortgage Loan Disclosure Statement is used for loans with monthly
payments that are less than the principal and interest payment, such as interest-only or
negative amortization loans. It contains several loan scenarios to provide the borrower
with information to make comparisons.
The following buttons, located at the bottom of the workspace, provide additional
functionality:
Calculate
Use the
Calculate
button to calculate the
Payment Scenarios
and
Loan Balance
Scenario
sections.
Monthly Sch
Use the
Monthly Sch
button to view the amortization schedule based on the data
in the
Truth-in-Lending
screen.
To complete the non-traditional Mortgage Loan Disclosure Statement:
1
Open a prospect or borrower file.
Tip
To avoid repetitive entry, create a master template to populate these
fields automatically.
Related information
•
For information about how to indicate in the
Loan Application
that
liabilities are to be paid, refer to
Entering liabilities
, on page 108.
•
For information about the Good Faith Estimate, refer to
Good Faith
Estimate
, on page 119.
