This article covers the following topics:
- Creating the non-occupying/non-married borrowers loan application
- Filling in the non-occupying/non-married borrowers loan application
Creating the non-occupying/non-married Borrowers loan application
1. Open the applicable borrower file.
2. From the Menu bar, select Borrower/Co-Borrower > Co-Borrower 1.
3. Complete the Co-borrower information as needed.
4. From the Menu bar, select File > Save.
Filling in the co-borrower application
Note: All Co-Borrower 1 data is entered into the Borrower sections.
1. From the Co-Borrower 1 application, the application should be checked as a Secondary or an Investment residence.
2. Enter the borrower's subject property address into the Subject Property section.
3. Enter the non-occupying co-borrower's primary residence address into the Present Address section.
4. Go to Page 2 of the Loan Application.
5. Scroll to section V Monthly Income and Combined Housing Expense Information.
- The Present column should reflect payments for the co-borrower 1 primary residence.
- The Proposed column should reflect payments for the subject property.
6. Continue to complete the rest of the Loan Application and other applicable forms.