Point TRID FAQ's
Many of our customers have queried us regarding a wide range of topics along with, what to do if scenarios on responding to the LE and CD mandate. To meet this need we have compiled FAQs to answer your questions.
Additional resources include:
DISCLAIMER: The following questions and answers are provided for general information only and do not purport to be legal advice, and are not intended to be legally binding on Calyx Technology, Inc.
Q: Will the verbiage that is required for a pre-application fee estimate be added to the Fees Worksheet?
Q: Is there a way to automatically import fees into the Fees Worksheet?
Q: Do I have to manually alphabetize the fees on the Fees Worksheet?
Q: Are the PFC check boxes automatically selected on the Fees Worksheet or do we need to select them manually?
Q: If Point generates a loan ID, will it automatically populate the Loan ID field on the Loan Estimate?
Q: How is the application date populated on the Loan Estimate?
Q: Why is the first field in the Product section on the Loan Estimate empty?
Q: Can Point generate a Loan Estimate without a lender name and Loan ID number?
Q: Are fees on the Loan Estimate rounded?
Q: How can you change the Loan Estimate Rate Lock check box selection from No to Yes?
Q: Is a signature line available on the Loan Estimate?
Q: If the Index Type dropdown list on the Truth-In-Lending screen does not contain the index that my company uses, how can we add it?
Q: Can we set default values for time zone?
Q: Is it possible to set the Confirm Receipt check box on the Loan Estimate as a default selection for all loans or is it set on a per loan basis?
Written List of Service Providers
Q: Depending on how we specify can or cannot shop for, will Point generate two separate lists?
Q: Is there a way to populate the Fees Worksheet providers on the Written List of Service providers?
Q: Can we still use the Service Providers list, or was it replaced by the Written List of Service Providers?
Q: Before the new regulations became effective we had the option to disclose service providers with or without fees. Do we still have the option to list providers without the fees?
Q: Can we create a template to populate the same Written List of Service Providers on every application or must we create a new list for each loan?
Q: On the CFPB Sample Service Provider List the title fees are broken down into binder, lender's title policy, title search, etc. Can we break down the fees in Point?
Q: Will Point ever automatically populate services that are shopped for and services that not shopped for, rather than us having to select?
Closing Costs Worksheet and Closing Disclosure
Q: Where do I enter seller-paid and buyer-paid taxes?
Q: If fees are updated on the Closing Costs Worksheet, will they update on the loan application?
Q: What goes in the MIC# field at the top of the Closing Costs Worksheet?
Q: Is a signature line available on the Closing Disclosure?
Q: Where is a prorated tax credit due to the borrower from the seller entered on the Closing Disclosure?
Q: Where is the escrow Aggregate Adjustment shown?
Q: Where is the closing date that is populated on the Closing Disclosure entered?
Q: Where is the real estate agent contact information that is populated on the Closing Disclosure entered?
Q: Is it possible to set the Confirm Receipt check box on the Closing Disclosures as a default selection for all loans or is it set on a per loan basis?
Q: What is the main difference between the Fees Worksheet and Closing Costs Worksheet?
Q: Is a Changed Circumstance form available when it is necessary to re-disclose the Loan Estimate?
Q: How is the expiration date on the new Intent to Proceed (LE) form entered?
Q: Is an electronic signature feature available?
Q: The Cash-to-Close section isn’t calculating correctly, it looks like the Down Payment is incorrect. How do I fix this amount when I have items financed in the loan?
Q: How is the Cash-To-Close for a purchase shown correctly on the Loan Estimate when there is a combined 2nd involved?
Q: I created a refinance loan but the Cash-to-Close looks like it is for a purchases. How do I correct this?
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