7.5.4 Summary Sub Tab

This topic provides information on summary.

The system calculates debt ratios in the Ratios section on the Summary sub screen (Applicants link) using the data in the Incomes and Liabilities sections. Information in the Incomes section comes from the Employments sub screen and the Other Incomes sub screen during application entry. The information in the Liabilities section comes from the Address sub screen, the Liabilities sub screen during application entry, and the credit bureau pull.

To View Summary sub tab
  1. On the Origination, click Origination. Under Origination, click Underwriting. Under Underwriting, click Underwriting tab.
  2. Under Underwriting tab, click Applicant. Under Applicant, click Applicant. Under Applicant, click Summary.
  3. Perform any of the Basic Operations mentioned in Preface.
    A brief description of the fields is given below:

    Table 7-6 Summary

    Field Description
    What If Pmt Amt Specify the payment amount user want to use in the ratios.
    Score View the credit score for the application
    Grade View the credit grade for the application
    Totals Displays the totals section.
    Monthly Income- Stated Amt Displays the stated monthly income.
    Monthly Debt- Stated Amt Displays the stated monthly liability.
    Monthly Income- Actual Amt Displays the actual monthly income.
    Monthly Debt- Actual Amt Displays the actual monthly liability.
    Assets Amt - Liabilities Amt Displays the net worth amount.
    Ratios Display the ratios section.
    Debt - Stated Before (%) Displays the debt amount stated before.
    Debt - Stated After (%) Displays the debt amount stated after.
    Debt - Actual Before (%) Displays the actual debt amount before.
    Debt - Actual After (%) Displays the actual debt amount after.
    Disposable Inc - Stated Before (%) Displays the disposable income stated before.
    Disposable Inc - Stated After (%) Displays the disposable income stated after.
    Disposable Inc - Actual Before (%) Displays the actual disposable income before.
    Disposable Inc - Actual After (%) Displays the actual disposable income after.
    Revolving Debt - Stated Before (%) Displays the stated revolving debt before.
    Revolving Debt -Stated After (%) Displays the stated revolving debt after.
    Revolving Debt - Actual Before (%) Displays the actual revolving debt before.
    Revolving Debt - Actual After (%) Displays the actual revolving debt after.
    Pmt to Income - Stated Before (%) Displays the stated income payment before.
    Pmt to Income - Stated After (%) Displays the stated income payment after.
    Pmt to Income - Actual Before (%) Displays the actual income payment before.
    Pmt to Income - Actual After (%) Displays the actual income payment after.
  4. Perform any of the Basic Actions mentioned in Preface chapter.

    Once the payment amount is approved in Decision screen, it will be copied and displayed in the What if Payment field in Summary sub screen.

Calculating Debt Ratios

The system offers powerful tools to the underwriter for analyzing an applicant’s debt-to-income ratios (total of an applicant’s debt obligation divided by that person’s regular income). The system calculates debt ratios in the Ratios section on the Summary sub screen (Applicants link) using the data in the Incomes and Liabilities sections. Information in the Incomes section comes from the Employments sub screen and the Other Incomes sub screen during application entry. The information in the Liabilities section comes from the Address sub screen, the Liabilities sub screen during application entry, and the credit bureau pull.

An underwriter may also add information to the Incomes and Liabilities sections on the Summary sub screen during the underwriting process.

The debt-to-income ratios in the Ratios section can be recalculated by including or excluding information from the Incomes section, Liabilities section and Financials sub screen.

To calculate debt ratios
  1. Open the Underwriting screen and load the application user want to work with.
  2. In the Underwriting link bar, click Applicants.
  3. On the Applicants Details screen, select the applicant user want to work with and click Show in the Details column.
  4. Click Summary sub tab.
  5. On the Summary sub screen, view the display only data in the Totals section.

    Table 7-7 Summary

    Field Description
    Monthly Income (Stated) Displays the stated monthly income.
    Monthly Income (Actual) Displays the actual monthly income.
    Monthly Debt (Stated) Displays the stated monthly liability.
    Monthly Debt (Actual) Displays the actual monthly liability.
    Assets Displays the assets.
    Liabilities Displays the liabilities.
    Net-Worth Displays the net-worth.
  6. In the What if Pmt Amt field, enter the payment amount user want to use in the ratios. Once the payment amount is approved in Decision screen, it will be copied in the What if Payment field and the ratios are updated accordingly.
    Whenever user modify the What If pmt Amt field, system automatically calculates the below ratio's:
    • Stated Before DTI - if liabilities, stated income or applicant financials are updated.
    • Stated After DTI - if decision payment amount, liabilities, stated income or applicant financials are updated.
    • Actual Before DTI - if liabilities, actual income or applicant financials are updated.
    • Actual After DTI - if decision payment amount, liabilities, actual income or applicant financials are updated.
    • Stated PTI - if decision payment amount, stated income or applicant financials are updated.
    • Actual PTI - if decision payment amount, liabilities, actual income or applicant financials are updated.

This section consists of the following topics:

  • Financials Sub Tab
    This topic provides information on the financials. It enables users to view and manage financial details such as values, utilization, and associated calculations within the request.
  • Liabilities Sub Tab
    This topic provides information on the liabilities. It enables users to view and manage liability details such as outstanding amounts, obligations, and repayment schedules within the request.
  • Other Incomes Sub Tab
    This topic provides information on the other incomes. It enables users to view and manage additional income details within the request.
  • Rescoring a Credit Bureau Report Manually
    This topic provides information on rescoring a credit bureau report manually. It enables users to update, validate, and adjust credit bureau scores based on revised data inputs or corrections.

Parent topic: Applicant Tab