Calyx Point – PMI/MIP/FF/G Fee% still has a value but it shouldn’t

Issue:

Customer is reporting that a loan which should not have up-front MI, but in the Total Loan Amount section, there is a value in the PMI/MIP/FF/G Fee% field. For Calyx Point users this could cause difficulty because the fields in OB should be read-only.

Cause:

This is typically caused when a loan has been changed from a conventional loan with up-front MI, or government loan, to a conventional loan without up-front MI, and the values in Calyx Point were not completely updated.

Resolution:

With the Total Loan Amount fields locked down, they’ll need to make the following updates in Point, then launch back out to OB.

In Point, they should enter a “0.000” in the MIP, FF, PMI, USDA field as seen below. Then click OK, save the loan, then launch out to OB. This will provide zeroes in the PMI/MIP/FF/G Fee% field in OB.