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Calyx Software Knowledgebase


2101 How to Input Lender Credits to show on the Loan Estimate


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Loan Estimate

 

Lender Credits populate in Section J. Total Closing Costs on the Loan Estimate.

There are two scenarios for entering lender credits to print on the Loan Estimate:

  • Lender credits associated with a specific fee
  • Lender credits not associated with a specific fee

Entering lender credits associated with a specific fee

To enter a lender credit for a specific fee:

  1. Open the Fees Worksheet.
  2. Click the button in the Paid by column for the applicable fee.


  3. Note: The default label on the button is Borrower. However, if a selection was previously made, the button label indicates the specified payer, or Multiple if more than one.

    The Fee Distribution Worksheet dialog box is displayed.



    The default setting is the fee is 100% paid by the borrower and the fee split by %.

  4. Split the fee among multiple parties by entering the percentage each party will pay.
  5. For example, if the borrower is responsible for 75% of the fee and the lender is responsible for 25% of the fee, enter 75 in the Borrower Fee % field and 25 in the Lender Fee % field as shown in the following example.



    You can also split the fee by dollar amount by selecting Split by Amount and entering the dollar values in the applicable fields.

  6. Click OK.
  7. The button label in the Paid by column changes from Borrower to Multiple.



  8. Click the Loan Estimate button on the command bar to open the Loan Estimate.
  9. Scroll down to section J. Total Closing Costs.
  10. Note: The value in the Lender Credits field equals 25% of the total loan origination fee in this example.



  11. Click the Payoffs & Adjustments button on the command bar.
  12. Note: the value in the CC paid by Lender field also equals 25% of the loan origination fee in this example.




Entering lender credits not associated with a specific fee

To enter a credit to the borrower that is not tied to a specific fee:

  1. Open the Fees Worksheet.
  2. Click the Payoffs & Adjustments button on the command bar.


  3. Enter the amount of the lender credit in the Lender Credits field.


  4. The total lender credits are printed on the Loan Estimate.




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Last Modified: 7 Months Ago
Last Modified By: cswms
Type: Loans
Rated 1 star based on 36 votes.
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