Liability

Enter the borrower/co-borrower combined liabilities. Enter mortgage liabilities populate the Unmatched Mortgage Liabilities table.

Adding Liabilities

Use the following steps to add liabilities.

1. In a desired loan application, select Application > Borrower.

The Liabilities section is located below the Gifts or Grants Received section.

2. Click on the Add button.

Note: Click an existing liability and use the Edit Liability dialog to update.

3. Enter the Company Name and the company's Address information for the liability.

4. Select the Credit Account Type from the dropdown menu.
5. Select the Liability Type from the dropdown menu.
6. Enter Other Description when selecting Other from the Liability Type dropdown.
7. Enter the liability Account Number.
8. Enter (FHA) Original Debt Amount if appropriate.
9. Enter (FHA) Automobile information if appropriate.
10. Enter Current Balance and Payment details.
11. Enter Remaining amount if applicable.
12. Complete the Paid Off amount if applicable.
13. Check the appropriate checkboxes.
14. Enter the Mortgage Type from the dropdown if applicable.
15. Enter the Credit Limit amount if applicable.
16. Check the appropriate checkboxes if applicable.
17. Click Save & Close.

Note: Click Save & New to add another liability.

18. Click on the Save button located at the top of the Borrowers screen.

Editing Liability

Use the following steps to edit a liability in the Liabilities table.

1. In a desired loan application, select Application > Borrower.

The Liabilities section is located below the Gifts or Grants Received section.

2. Select the desired liability listed in the table.

3. Update the information for the liability as applicable.
4. Click Save & Close.

Note: The Real Estate table updates automatically when changes are made to a real estate owned liability.

5.  Click on the Save button located at the top of the Borrowers screen.

Deleting Liabilities

Use the following steps to delete a liability in the Liabilities tables.

1. In a desired loan application, select Application > Borrower.

The Liabilities section is located below the Gifts or Grants Received section.

2. Click on the delete icon associated with the undesired liability.

3. Select the Delete button on the Delete Confirmation dialog.
4. Click on the Save button located at the top of the Borrowers screen.