When I look at the 1008 on my no-cash-out refinance loan, it says that the loan is a cash out. When I change it, it changes it back. How can I make it stick as a no cash out?

First, you may want to verify the amount of cash going to the borrower. To do that, check the cash to/from the borrower field at the bottom of the Details of Transaction section on page 3 of the loan application. If this is the cash amount you expected, we will need to modify the cash-out default.

Modifying your cash/no-cash out default:

1. Open the Byte loan file that is incorrectly indicating a cash-out status.
2. Click on Utilites in the Menu Bar at the top of the screen.
3. Choose Defaults from the drop-down list.
4. Click Loan at the top of the Defaults screen.
5. Enter a value in the Transmittal Cash out/No cash out default criteria field that is higher than the cash back to your borrower.
6. Click OK to save changes.
7. You may need to close the loan file and then reopen it to see the cash-out change on the transmittal.