To set up an ETO, you must first set up a property asset for the applicant. You can do this in the form of a primary residence ownership, or by adding the property as an asset. Click here for instruction on how to add a property as an asset.
Creating an ETO
After you've ensured the applicant has at least one property asset listed, you will be able to create an ETO from the transaction page by setting a Loan Amount to the loan:
In the Loan Request page, navigate to the Proceeds section and click the arrow to expand.
Enter an amount in the Loan Amount field.
3. Navigate back to Transaction.
4. Any value left of proceed not attributed to other Purposes will show as Equity Takeout.
5. To verify the loan order, go the address in the Transaction Page:
Note: If you need to add an existing mortgage to the property, visit this article: Existing Mortgage on a Property.