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Form Updates |
Transmittal Summary (1008)
Updated Form
(04/08) - New Project Classification Codes for Freddie Mac (Required October
1, 2008) |
Good Faith Estimate
(Lenders) - ARM Verbiage on Printed Form
The statement at the bottom of the
Lender's GFE previously read, "The undersigned acknowledges receipt of the
booklet Handbook on ARM Mortgages." This has been changed to, "The
undersigned acknowledges receipt of the booklet “Settlement Costs, and if
applicable the Consumer Handbook on ARM Mortgages." |
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General Enhancements, Changes,
and Fixes |
Point Admin Installation with Data Folders
Located in the Netsetup Folder
If your data folders were located
under the Netsetup directory when installing Point with an Admin
Installation, Point removed all data folders from the system.
If your data folders were located under the work or user folders during a
regular installation, Point removed all the data folders. Both of
these issues have been corrected, and all data is now preserved during an
upgrade. |
Calyx Network Enhancements in Web Interfaces
1. When
using Web Interfaces within the Calyx Network, you can now minimize the Web
Browser window to view your Point file and Interface Browser side-by-side.
This enables you to flip back and forth between the screens in Point and the
Web Interface you are using.
2. A 'Save As' button has
been added to the browser window enabling you to save screen shots to your
system. |
DirectMortgage Interface - Browser
Printing
Documents in the Calyx Network's
DirectMortgage Interface were not able to be printed from within the browser
window. This has been corrected, and documents will now print. |
Initial
Disclosures & Closing Documents - View/Print Button
When requesting
disclosures or documents through the Initial Disclosures or Closing
Documents Interfaces, the 'View/Print' button did not launch the View/Print
dialog when the document window displayed only one document. This has been corrected, and the window is now displayed correctly. |
Closing
Cost Scenario Templates Overwriting Good Faith Estimate Fields
When importing a new Closing Cost Scenario into the Good Faith Estimate, the
new Closing Cost Scenario would overwrite line numbers 801, 903, 1001, and
1004.
These fields now preserve the manually entered data
when importing a new Closing Cost Scenario. |
CA
Mortgage Loan Disclosure Statement Total Calculation
On Page 1 of the printed MLDS, 'Paid to Other Total' and 'Paid to Broker
Total' were transposed into the wrong columns. The correct totals now appear
in their respective columns. |
Verification of Employment - Borrower's Name Printing on Co Borrower's VOE
When two borrowers were listed on a loan
file, clicking 'From VOE' on the Verification of Employment screen caused
the Borrower's name to show on the Co-Borrower's VOE. The correct
names now print on their respective VOE forms. |
Security -
User Access to Copy, Move or Delete Files
When security was enabled
for individuals users, and "Access to Secured Area" was not checked, the
loan search results screen had the "Copy," "Move," and "Delete" buttons
enabled only after closing the Borrower file. These buttons are now
correctly disabled for this situation. |
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New Features |
Loan Checklist
Point includes a Loan
Checklist which appears on the new right navigation bar. The Loan
Checklist displays the status of all incoming and outgoing documents
that are added from the Track > Loan Status screen. Basic and
Miscellaneous documents can be added to this checklist to easily track
and update the status of documents required to complete the loan file. |
Updated Loan Application
Screens
The Loan Application is revised and now contains an updated user interface. In addition, boxes
for multiple entry items including Employers, Assets, Liabilities, and
Real Estate Owned items are easier to view in a list format
directly within each section. |
Initial ARM Disclosure Statement
Point contains a generic Initial ARM Disclosure Statement which is
required by some states to be given to the borrower at the time of
application. Please be advised that this Initial ARM Disclosure
may not accommodate every loan scenario available. Please check
with your lender for unique loan program disclosures that you may be
required to give to your customers. |
Personal Information Screen
A Personal
Information dialog box has been added to store additional information
about your borrowers.
This new screen can be accessed at the bottom of the Borrower
Information screen in the
button titled, "Personal Info."
This screen contains the interests & hobbies of the Borrowers, along
with information on the Borrower's children. This information can
also be used for Marketing purposes when running Reports in Point. |
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Lenders & Vendors |
Calyx Network:
Initial Disclosures
Point contains a Direct Connect method to order required Initial Disclosures on a loan
file. Disclosures can be ordered and electronically returned back
into Point to save and print. This new features is located in the
Services menu under Initial Disclosures. |
Calyx
Network: Closing
Documents
Point contains a Direct Connect method to order final Closing Documents on a loan file.
Disclosures can be ordered
and electronically returned back into Point to save and print.
This new features is located in the Services menu under Closing
Documents. |
Calyx
Network: Hazard
Insurance
Point contains a Direct Connect method to order Hazard Insurance quotes which will
populate back into Point. In addition to easily being able to
calculate out the correct Point ratios, an e-mail will be sent to
the borrower allowing them to purchase their Hazard Insurance policy
online. |
eLoanFile
Menu
A new menu titled, "eLoanFile" has
been added to the Point menu bar to assist in entering data that will be
used in ordering Electronic Transactions from the Services menu in
Point. |
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Form Updates |
Good
Faith Estimate & California Mortgage Loan Disclosure Statement
Due to regulatory
updates in many states, The Good Faith Estimate has been updated to
include several new fields including who an item has been paid to, the
company name that the fee has been paid to, and who the item was paid
by. The Summary section of the GFE screen has been updated to
total all fees up separately, and show the Details of Transaction to
balance the GFE with the Loan Application.
Page 1 of the California Mortgage Loan Disclosure Statement has been
removed and consolidated with the Good Faith Estimate. The Good
Faith Estimate will now carry over fields to Page 1 of the MLDS printed
form.
The GFE printout is updated to print on letter size paper and
only print the fees that have been entered. All fees not entered
on the screen will not be printed. In addition, a new Summary page
has been added which details out the breakdown of Closing Costs in an
easy to read fashion. At the bottom of the Summary page is a new
"Notes" box which enables you to enter any additional details that you
would like to give to the borrower.
Note: As of the time of this release, the California Department of Real
Estate had not yet finalized or published the final rule and respective
MLDS forms. Therefore, these changes have not been incorporated into
this release, but will be included in a subsequent update. |
Truth-in-Lending
The Truth-in-Lending
prints on letter size paper. |
Mortgage Credit
Analysis Worksheet Purchase Money Mortgages (HUD-92900-PUR)
Updated the OMB
Control Number Expiration Date at the top right corner of the form. |
Mortgage Credit Analysis Worksheet (HUD-92900)
Updated the OMB
Control Number Expiration Date at the top right corner of the form. |
203(k) and
Streamlined (k) Maximum Mortgage Worksheet (HUD-92700)
Updated the OMB
Control Number Expiration Date at the top right corner of the form. |
HUD/VA Addendum to Uniform Residential Loan Application (HUD-92900-a)
Updated the OMB
Control Number Expiration Date at the top right corner of the form. |
Important Notice to
Homebuyers (HUD-92900-b)
Updated the OMB
Control Number Expiration Date at the top right corner of the form. |
Borrower's Contract with Respect to Hotel and Transient Use of Property
(HUD-92561)
Updated the OMB
Control Number Expiration Date at the top right corner of the form. |
Conditional
Commitment Direct Endorsement Statement of Appraised Value
(HUD-92800-5b)
Updated the OMB
Control Number Expiration Date at the top right corner of the form. |
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General Enhancements, Changes,
and Fixes |
Updated Windows Installer to MSI
Point uses an MSI
(Windows Installer) which now works better under the Window Environment
when running a Point Installation. |
Printing Custom Forms
in Order
When printing
Custom Forms in a Print Group, they print in the order specified
(unless it was specified for the print group to print in the order of
paper size.) |
Long Amortization Schedule Printing
If the amortization schedule is
completed with a payment schedule that has multiple payment changes, the payment
schedule will no longer run together with the form and page number in
bottom left hand corner of the form. |
Master File
Populating Purpose of Loan
Master files
which contain "other" as the purpose of loan now populate the
correct checkbox in a Borrower file. |
Mortgage Insurance - Amount Paid in Cash Re-Calculating
When clicking the Lock Box to the Amount of Mortgage Insurance Paid in
Cash Field, the amount entered would stick when un-checking the box.
This has been corrected and the amount re-calculates automatically. |
Credit Report Fields
Displaying in Reports
Credit Report fields now display in a generated report if a "+" sign is
in front of the credit score. |
Interest Only Bi-Weekly Payment Schedule
Point is able to calculate
Interest-Only Bi-Weekly payment schedules where the payment is Interest
Only for a set period of time, and then converts to a fully amortized
loan. |
FHA
MCAW - Installment Debts Transferring to #14a
Total Installment Debts from Loan Application - Page 3 no longer
transfer to box #14c (Other) on the MCAW. They now transfer to box
#14a (Installment Debts). |
Mortgage Insurance
Re-Calculating when a 2nd Value is Entered
When entering
a 2nd Mortgage Insurance value on the Truth-in-Lending the value was not
automatically re-calculating when the Sales Price, Loan Amount, or
Appraised Value was changed. The second mortgage insurance
percentage now updates the dollar amount correctly. |
Moving
a Linked File Warning
When moving a linked
borrower file to another data folder, Point gives an error that in
order to keep the link between the two files, both files must be moved
into the same data folder. If both files are not moved, the
synchronization link will be broken. |
APR
Calculation when Customizing Payment Schedule
When clicking "customize" on the Truth-in-Lending, the payment schedule
would sometimes be incorrect. Point now calculates the correct APR
when customizing the payment schedule. |
Credit Score
Transferring on Linked Subordinate Financing Files
The Borrower and
Co-Borrower's credit scores now transfer to the Subordinate Financing
file when doing a Piggyback loan and both files are linked together. |
Report Viewer
Print Option
The Point Report
Viewer gives you the ability to print your Report. |
Subordinate Financing
"Loan Type" No Longer Synchronized
The loan type on a synchronized Subordinate Financed file is no longer
synchronized. Each loan can have a different loan type selected.
(i.e. First Mortgage is Purchase, Second Mortgage is Other). |
Trust
Account "Chk" Number fields increased to 10 Digits
All "Chk" fields in
the Trust Account screen have been increased to a 10 digit maximum. |
Point Screen Refresh Issues
on the Shortcut Toolbar
Point would sometimes have screen refresh images where an image from a
screen in back of the Point Application would show through on the
Shortcut Toolbar. Point should no longer have screen refresh
issues and odd images should no longer appear in the Shortcut Toolbar. |
Print Groups in Co-Borrower Files
When a
print group was selected in a Co-Borrower file, the print group button
was disabled. This has been corrected and print groups are able to be printed from Co-Borrower files. |
Displaying Bi-Weekly
Payment
When a file is
checked as Bi-Weekly on the Truth-in-Lending and you click "Calculate"
the payment would show as a monthly payment when closing the file and
opening it back up. Upon re-entering the file, the payment shows correctly without having to re-click Calculate on the
Truth-in-Lending. |
Maximum Loan Button Accessibility
The "Max Loan"
button on the Borrower Information screen is only enabled when the loan
file is an FHA Purchase loan. This button was previously always
accessible even though it was only useful when doing an FHA Purchase
transaction. |
Security on
Financial Information
Screens
If a user
does not have security access to financial information screens, they are
no longer able to print the screens. |
Affiliated Business Disclosure Statement Date
The Affiliated Business Disclosure statement prints the same
date entered on the Good Faith Estimate instead of the computer system's
date. |
Mailing Labels Printing
Co-Borrower Names
The Co-Borrower
mailing labels in marketing reports were not printing co-borrower names
on the labels. This has been corrected, and co-borrower names print. |
Present
& Mailing Addresses
Not Printing on Custom
Marketing Documents
When creating a
Custom Letter in the Marketing feature, the Present Address and Mailing
Address did not populate to Custom Forms. This has been corrected,
and the addresses print. |
FHA/VA Addendum (Lines #10
and #12 Populating)
Lines #10 and #12
were not carried over from other screens in Point. These two
fields are carried over and calculate so re-entry is not required. |
Loan
Submission Lender Rounding
Within the Loan
Demands button on the Loan Submission sheet, fees paid to the Lender
were rounding to 4 decimal places instead of 3. This caused dollar
amounts to be off by a few cents. This has been corrected and the
lender section rounds to 3 decimal places. |
Type/Purpose of Loan
Displaying When Creating a Repeat Loan
When creating a
repeat loan by going to File > Save As, the Type and Purpose of Loan
would not display in the Loan Summary navigation. This has been
corrected and the information does carry over when creating a new loan. |
Changing
the City Name on Linked Subordinate Financing Files
When creating a
linked Subordinate Financing file in Point, if automatic zip code
population was turned on, Point would automatically fill in the city
name of the Subject Property. In some circumstances, the two
cities share the same zip code and it would be necessary to change the
city name manually. Upon saving the file and re-opening Point the
city would revert back to the one populated by Point and not the one
manually entered. This has been corrected and Point retains
the manually entered city name. |
Hybrid Option ARM Balloon Recasting
When creating a Hybrid Option ARM that had an Initial Payment Rate
Period and a Balloon Option, Point would continue to let the loan
payment rise past the Maximum Negative Amortization Balance without
recasting on the Truth-in-Lending. This has been corrected, and
Point recasts the loan properly when the maximum negative
amortization limit is reached. |
Verification of Employment Printing Fields
When creating a VOE, Point carries over the Phone and Fax numbers in
the "To" and "From" fields. |
Loan Program
Importing of "Initial Pmt Rate Period" Field
When importing a
Loan Program template, Point would check the "Initial Pmt Rate Period"
checkbox on the Truth-in-Lending even though the field was not checked
in the Loan Program template. This has been corrected and Point no
longer checks the box. |
Option ARM
& Hybrid Option ARM Recasting
When the negative
amortization limit is reached on a negative amortizing loan, Point was
calculating one odd payment to keep the balance the same as the maximum
balance when re-casted. If the remaining balance is over the
maximum balance, Point re-amortizes the loan immediately. |
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© 2008 Calyx Software.
All Rights Reserved. |
