In Baker Hill Bank2Dealer, you access the Verification of Contract Terms page through the View Verification of Contract Terms hover menu option on the home page when the dealer loan is in Booking or Completed statuses.

This page is designed to help you do the following:

• Verify that the rate, loan amount, and other terms match the terms supplied to and accepted by the dealer.

• Verify that the Regulation Z disclosures are accurate.

• Verify that the contract does not exceed applicable usury limits and that certain fee calculations are correct.

• Calculate dealer reserve prior to booking and payment.

The Compliance and Dealer Reserve calculator is integrated into the Verification of Contract Terms page to facilitate the verification task.

The Verification of Contract Terms page is divided into several sections:

• General Information, Collateral, and Authorized Loan Terms

• Compliance Check

• Verification of Contract

• Comments

General Information, Collateral, and Authorized Loan Terms Sections

The top portion of the Verification of Contract Terms page contains applicant and collateral information from the application, along with the authorized loan terms entered by the underwriter.

Compliance Check Section

The Compliance Check section contains the Regulation Z/Usury and Dealer Reserve fields.

Use the Check Regulation Z/Usury Compliance and Calculate Dealer Reserve buttons to activate the Carleton Compliance and Dealer Reserve calculator.

The Carleton Product Type option in product configuration controls which Carleton product type is used for the State Usury Compliance check on applications containing that product. (This Carleton feature uses validates compliance specific to certain product types and the laws governing those product types in each state as applicable.) The Carleton product type is crucial to making sure that the correct compliance terms are used by the Usury Compliance check. If you add a product in Product Configuration and are unsure which Carleton product type to select, please contact Technical Support for guidance.

Verification of Contract Section

In the Status of Contract field, enter the result of your verification:

• Contract Accepted: Accept the contract and send the application to the Booking task.

• Contract Rejected: Reject the contract, which completes the application. When you select this option, you get additional fields allowing you to choose among four reasons for the rejection.

• Route Back to Underwriter: Return the application to the underwriter, in which case the application is sent to the Pending Decision group task of the underwriter who entered the final decision. (When an application is returned to the decision task, a View Verification of Contract button appears on the Decision Application page to allow the underwriter to view the verification information that caused the application to be returned.)

• Withdrawn (Not Received): Withdraw the application, which completes the application.  (Note: The application remains in Verification of Contract Terms until you complete this task.)

Tabs, Buttons, and Other Actions Menu Options

This table lists the tabs, buttons, and Other Action menu options available on this page.

Page Name	Tabs	Buttons	Other Actions Menu Options
Verification and Collateral Checklists (Task page)	Summary Verifications/Checklists Comments	Complete Save Cancel Documents View All	View Application View Decision Email RM Message Board Activity List
Verification and Collateral Checklists (not in VCC task)	Summary Verifications/Checklists Comments	Save Cancel Documents View All	Email RM Message Board Activity List