The Additional tab allows users to enter additional information based on several loan scenarios.
The Additional tab will not have anything appear on the screen with a few exceptions:
If PMI field in the Closing Docs > Loan tab is selected as "Yes", then the screen will generate PMI information to be entered. The fields will automatically populate if the information was previously entered on the Forms & Docs > MI Screen. All fields are enabled and can be edited.
Tip: For additional information on the PMI fields, refer to LOS Help > MI Screen.
If the Mortgage Applied For is set to FHA, then the screen will generate FHA Information fields. All fields will automatically populate based on information previously entered in the LOS with the exception of the No. MIP Payments field.
The Agency Case Number and Section of the Act fields will automatically populate from the Forms & Docs > 1003 > Government tab and will be disabled fields.
The Upfront MIP% and Upfront MIP $ fields will automatically populate from the Forms & Docs > 1003 > Transaction Details tab and will be disabled fields.
The MI Renewal Rate % and Monthly Amount fields will automatically populate from the Forms & Docs > 1003 > Income/Housing tab and will be disabled fields.
The Calculated Loan $ field will automatically populate from the Forms & Docs > 1003 > Terms tab and will be a disabled field.
If the Mortgage Applied For is set to VA, then the screen will generate VA Information fields. All fields will automatically populate based on information previously entered in the LOS.
The Case Number field will automatically populate from the Forms & Docs > 1003 > Government tab and will be a disabled field.
The Calculated Loan $ field will automatically populate from the Forms & Docs > 1003 > Terms tab and will be a disabled field.
The Funding Fee field will automatically populate from the Forms & Docs > 1003 > Transaction Details tab and will be a disabled field.
If the Mortgage Applied For is set to USDA, then the screen will generate USDA Information fields. All fields will automatically populate based on information previously entered in the LOS and will be a disabled.
The Guarantee Rate, Guarantee Fee, Guarantee Fee Factor, and Monthly Dollar Value fields will automatically populate from the Forms & Docs > 1003 > Income/Housing tab and will be disabled fields.
If the loan file is Buydown loan, then the screen will generate Buydown information fields. All fields will automatically populate based on information previously entered in the LOS and are disabled with the exception of the Seller Pays, Borrower Pays, Originator Pays, Lender Pays, and POC Pays fields.
The Buydown Type field will automatically populate from the Forms & Docs > 1003 > Other Data tab and is an enabled field allowing users to make edits.
The Rate fields will automatically populate based on the Buydown Type selected and will use the interest rate of the loan to determine the rates per payments for the buydown loan.
The Payments fields will automatically populate based on the Buydown Type selected to determine the payment terms for the buydown loan.
The Borrower P & I fields will automatically calculate and populate based on the Buydown Type selected, the Rate and the Payments indicated and will display the borrower’s P&I payments per payment term.
The Monthly Amount fields will automatically calculate and populate based on the difference between the total P&I payment and the Borrower P&I. The Monthly Amount fields will indicate the amounts per term being paid by the contributor.
The Subtotal field will automatically calculate and populate the subtotal the contributor will pay towards the buydown loan per month.
The Total Buydown Fund field will automatically calculate and populate the total amount the contributor will pay towards the buydown loan.
If the loan file is a TX Refinance, then the screen will generate Texas Renewal and Extension Information. All fields are enabled and manually entered by the user.
The Texas Renewal and Extension Information will display several links (Lien 1 – Lien 10.) Each link will display the following fields for users to complete:
· Original Note Amount
· Dated
· Executed By
· Pay to the order of
· Trustee
· Recorded (book, page, and so on.)
· Vendor Lien from
· Recorded (book, page, and so on.)