1. Lease Origination User Guide
  2. Underwriting
  3. Applicant Tab
  4. Summary Sub Tab

7.5.4 Summary Sub Tab

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. Click the Summary sub tab.
  2. Perform any of the Basic Operations mentioned in Navigation chapter.
    A brief description of the fields is given below:

    Table 7-6 Summary

    Field Do this
    What if Pmt Amt Specify the payment amount you want to use in the ratios.
    Score View the credit score for the application
    Grade View the credit grade for the application
    Totals
    Monthly Income- Stated Amt The stated monthly income.
    Monthly Debt- Stated Amt The stated monthly liability.
    Monthly Income- Actual Amt The actual monthly income.
    Monthly Debt- Actual Amt The actual monthly liability.
    Assets Amt - Liabilities Amt The net worth amount.
    Ratios
    Debt - Stated Before (%) The debt amount stated before.
    Debt - Stated After (%) The debt amount stated after.
    Debt - Actual Before (%) The actual debt amount before.
    Debt - Actual After (%) The actual debt amount after.
    Disposable Inc - Stated Before (%) The disposable income stated before.
    Disposable Inc - Stated After (%) The disposable income stated after.
    Disposable Inc - Actual Before (%) The actual disposable income before.
    Disposable Inc - Actual After (%) The actual disposable income after.
    Revolving Debt - Stated Before (%) The stated revolving debt before.
    Revolving Debt -Stated After (%) The stated revolving debt after.
    Revolving Debt - Actual Before (%) The actual revolving debt before.
    Revolving Debt - Actual After (%) The actual revolving debt after.
    Pmt to Income - Stated Before (%) The stated income payment before.
    Pmt to Income - Stated After (%) The stated income payment after.
    Pmt to Income - Actual Before (%) The actual income payment before.
    Pmt to Income - Actual After (%) The actual income payment after.
  3. Perform any of the Basic Actions mentioned in Navigation 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 you want to work with.
  2. In the Underwriting link bar, click Applicants.
  3. On the Applicants Details screen, select the applicant you 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 View this
    Monthly Income (Stated) The stated monthly income.
    Monthly Income (Actual) The actual monthly income.
    Monthly Debt (Stated) The stated monthly liability.
    Monthly Debt (Actual) The actual monthly liability.
    Assets The assets.
    Liabilities The liabilities.
    Net-Worth The net-worth.
  6. In the What if Pmt Amt field, enter the payment amount you 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 you 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:

Parent topic: Applicant Tab