Why am I entering some Master Record information in the 1003?
Some of the data stored in the Master Record is entered in the 1003 as a Master Record field.
This eliminates entering the data more than one time. Data in the Master Record can be printed on
the 1003.
Do I have to enter estimates of closing costs, PMI, etc., in the 1003 for data
I will enter in the Master Record later?
This estimated information can be left blank and will be totaled and pulled in from Master Record
fields. Specific Master Record fields will appear on the bottom of the 1003 screens affected.
In Rapid App, you should enter the estimated closing costs and all costs associated with the loan
application.
When I want to modify the data in the 1003, how do I go directly to a specific
screen?
You can view a specific screen in the 1003 by pressing <SF4> and entering the
screen number you wish to display, or you can press <SF8> to view all screens.
Which fields in the 1003 apply to the ScrolEx option?
The borrower and co-borrower fields of employer name fields, bank institutions, and creditor
name fields.
If I want to change the terms or amount of the loan, do I make the changes in
both the 1003 application and Master Record screens?
Any changes to the terms of the loan or loan amount should be made in the Master Record. Field
39 of the Master Record is where MIP or VA funding fee changes can be made. The Master Record dollar
fields will overwrite the 1003 dollar fields.
How is page 4 of the printed 1003 Application used by MC?
On page 2 MC prints the name, address, city, state and ZIP Code, and total for the assets and
liabilities. MC uses page 4 to print the detail information that corresponds to the individual asset
and liability accounts.
Why are some fields skipped by the program?
If Fields 6 and 7 (co-borrower fields) are left blank, the program will automatically skip all
co-borrower fields. On screens where more than one field is available to enter additional information
(for example, bank account numbers), if the first field is left blank, the other fields will be skipped.
Which fields can I enter an asterisk (*) to pull in duplicate data?
The co-borrower last name, home telephone number fields, present address, and former address
fields. Also in the Asset/Liabilities area when answering the question "account in name of ."
Where are the totals pulled from for the Estimated Prepaid Items in the 1003 Application?
Data for the estimated prepaid items is pulled from Master Record Fields 901 through 905
(excluding 902) and 1001 through 1008.
In Rapid App, data for the estimated prepaid items should be keyed in for the loan application.
Where are the totals pulled from for the estimated closing costs?
Data for the estimated closing costs is pulled from Master Record Fields 801 through 810 (excluding
802), 1101 through 1113, 1201 through 1205, and 1301 through 1307.
In Rapid App, data for the estimated closing costs should be keyed in for the loan application.
Where are the hazard, fire, and flood insurance constants that make up the
total proposed monthly payment pulled from?
The hazard insurance constant is pulled from Field 1001. The MIP constant is pulled from Field
1002. The tax constant is pulled from Fields 1003 and 1004. The homeowners insurance constant is pulled
from Field 1007. Other applicable constants are pulled from Fields 1005 and 1006.
| 
