Completing the Closing Disclosure

January 12, 2016

2

Presenter

Stephen Lange

Professional Services Banking Consultant

Calyx Software

Stephen is a Professional Services Consultant with Calyx Software with over 13

years of experience in the mortgage banking industry. Stephen earned a Bachelors

Degree in Business Administration from the University of North Texas and has been

a Licensed Mortgage Loan Originator since 2003.

Using Borrower Master Templates

3

Getting the most out of this training

o All attendees are muted

o Ask questions via the questions box located in your GoToWebinar Control Panel

o Have Point open on your computer so you may follow along

o The Power Point presentation is available for printing now from the GoToMeeting attachments

o A recording of this Webinar will be available on our Website.

Legal Disclaimer: The information presented is confidential and proprietary to Calyx Software (“Calyx”) and may not be disclosed without the permission of Calyx. The purpose of this PowerPoint presentation is to provide information, rather than advice or opinion. It is accurate to the best of the speaker’s knowledge as of the date of the presentation. To the extent that this presentation contains any examples, please note that they are for illustrative purposes only and any similarity to actual individuals, entities, places or situations is unintentional and purely coincidental. In addition, any examples are not intended to serve as legal advice. No part of this presentation may be modified, printed, or presented without the permission of Calyx.

Calyx and Calyx Software are registered trademarks of Calyx Technologies, Inc. Copyright © 2015 Calyx

Software. All rights reserved

Webinar Housekeeping

4

Power Point

• Overview

• Highlights

Point File

•The Closing Cost Worksheet

•The Closing Disclosure

Resources

• Helpful Tips

• KB Articles

• Further Training

Webinar Format

5

• Navigate the Closing Disclosure and Closing Cost Worksheet

• Enter fees, charges, credits and payoffs

• Enter Lender, Seller and Real Estate Agent Information

• Understand how the Closing Cost Worksheet populates the Closing Disclosure

• Output options

• Use some helpful tips

Webinar Objectives

Today’s webinar will show you how to:

6

Locating the Closing Disclosure in a Point File

The Closing Cost Worksheet and Closing Disclosure can be found in the Navigation Panel or in the Forms tab in the Main Menu.

7

Understanding the column descriptors and use

• Description – Enter the name of the Fee

• Paid To - Indicate who will receive the fee: Broker, Lender, Investor, Affiliate, Other

• Company Name – Indicate the name of the company receiving the fee

• Amount – dollar amount of the fee

• Paid By – Borrower, Seller, Broker, Lender

• PFC/F/POC/FIN Checkboxes – Indicate how fees will be treated for APR calculations, and

more

• Borrower Chooses Own Providers checkbox

Closing Cost Worksheet Columns

8

Closing Cost Worksheet Closing Disclosure

1 Our Origination Charge A. Origination Charges

2 Your Credit or Charge (Points) for Specific Interest

Rate Chosen

A. Origination Charges

3 Required Services That We Select B. Services Borrower Did Not Shop For

4 Title Services and Lender Title Insurance B. Services Borrower Did Not Shop For

C. Services Borrower Did Shop For

5 Owner’s Title Insurance (Optional) H. Other

6 Required Services That You Can Shop For B. Services Borrower Did Not Shop For

C. Services Borrower Did Shop For

7 Government Recording Charges E. Taxes and Other Government Fees

8 Transfer Taxes E. Taxes and Other Government Fees

9 Initial Deposit for Your Escrow Account G. Initial Escrow Payment at Closing

10 Daily Interest Charges F. Prepaids

11 Homeowner’s Insurance F. Prepaids

Prepaid F. Prepaids

Other Charges H. Other

Fee Mapping to the Closing Disclosure

9

• Information for the Closing Disclosure populates from other forms

within Point, including:

• The Borrower Information and Application (1003)

• The Good Faith Estimate

• The Truth-In-Lending

• The Track Agent List

• The Closing Cost Worksheet

• Aggregate Adjustment is calculated on the Closing Disclosure

• Aggregate Adjustment is not calculated on the Loan Estimate

Reminders

10

I’ve completed my Closing Disclosure. . . now what?

1. Store in document storage

2. Print or email for Borrower Acknowledgement

3. Request a Closing Disclosure from your Document Provider

Closing Disclosure in Calyx Point

11

Streamline data entry

• Closing Cost Scenarios Templates

• Use templates to avoid repeat data entry for regular loan costs and help reduce

errors

• Utilizing Escrow and Title Tables

• Use these options to create tables for standard escrow and title fees.

• Tax Tables

• Create dropdown lists for transfer taxes

Helpful Tips

12

Knowledge Base Articles

0924 How to Complete the Closing Costs Worksheet

0925 How to complete the Closing Disclosure .: Knowledge Base

0936 How to print fees in section C. Services Borrower Did Shop For

0947 How to populate the Escrow Account section on Closing Disclosure pg. 4

0942 How to populate Estimated Taxes, Insurance, and Assessments on the CD

0952 How to enter Sellers on the Closing Disclosure

Resources

F1 from any screen in point

Point User Guide embedded in your software

www.calyxsoftware.com / support

1-800-342-2599 Customer Support

1-800-362- 2599 Account Managers / Sales

Professional Services for private training

Getting Help