How do I get the Assumption and other boxes checked that are on page 3 of the Loan Estimate?

Go to the Truth-In-Lending (REG-Z) screen. On this screen you are able to complete the late Charge information, Prepayment information, Assumption, Escrow Account Information, Liabilities after Foreclosure, and Servicing information.

How do I get page 3 of the Loan Estimate to show the Broker information and NMLS number?

On the borrower information page, click on the Track menu, then click on the agent list and complete the Broker section completely. Once you have done this, click on the Banker menu and select Secondary Marketing. Once you are on the Marketing screen, select Brokered in the Business Channel drop down screen.

Do I need to add a transfer tax to the Loan Estimate on a refinance?

Transfer tax is not generally required on a refinance.

How do I get the loan amount on an FHA loan to print without cents?

On the Borrower Information page, click on the Mtg. Ins. icon, enter any cents showing in the MIP, Funding Fee calculation in the Amount Paid in Cash field, then click ok.

How do I get a signature line to print on the Loan Estimate?

Go to the Loan Estimate screen, scroll down to the bottom of the page and click the box “confirm receipt”

How do I know which version Calyx Point I am using?

On the borrower’s information, click on the help menu, then click on “about point”, as of October 8, 2015, the most current version of Point is 9.2SP6.

How long will it take Essex Mortgage to review my Loan Estimate?

12 business hours of receipt.

When should the Alternate LE be used?

The Alternate LE can be used on a transaction without a Seller.

What should the Broker omit when providing the Loan Estimate?

Name of Creditor (should be blank)

Loan ID# (should be blank)

Where are the Lender Credits reflected on the L.E. and under what circumstances can the Lender credit changed?

Lender credits are listed under Section J – Total Closing Costs

What fees must be disclosed on the Loan Estimate?

– Origination charges to borrower will pay to each creditor and loan originator for origination credit
– Charges borrower will pay for settlement services which the borrower cannot shop for
– Charges borrower will pay for settlement services which the borrower can shop for
– Charges to be paid by the borrower to State and local governments for taxes and other government fees
– Prepayments paid by the borrower in advance of the first scheduled payment
– Amounts borrower is expected to place into a reserve or escrow account at consummation
– Other amounts in connection with the transaction that the borrower is likely to pay or has contracted
with a person other than the creditor or loan originator to pay at closing and of which the creditor
is aware of at the time of issuing the Loan Estiamte

When is an application considered received?

 An application is considered received when the borrower provides the following information:

– Name

– Income

– Social Security number to obtain a credit report

– Address of the property

– Estimated value of the property

– Loan Amount

When is the Loan Estimate required to be given to the Borrower?

The LE must be provided to the borrower, either by delivering by hand or placing in the mail, no later than three business days of the receipt of an application.

What do I need to provide to Essex Mortgage to have a Loan Estimate reviewed?

Essex mortgage will need the following: Completion of information on the request screen; a completed Loan Estimate; a completed Settlement Service Provider List and; a Fee Worksheet.

equal-housing-lender-logo-vector.pngData Mortgage dba Essex Mortgage is an equal housing lender. The corporate office is located at 2200 W. Orangewood, Suite 150 Orange, CA 92868 California Department of Real Estate License No. 00936013 . California Department of Corporations #603-G833 NMLS License 70377 Data Mortgage Inc. Member FDIC