OpenClose User s Guide

Transcription

1 USER MANUAL

2 OpenClose User s Guide Copyright Beanstalk Networks dba OpenClose. All rights reserved. Beanstalk Networks makes no representations or warranties with respect to this manual and will not guarantee the accuracy and completeness of any information. Users of this manual do so with the understanding that Beanstalk Networks is not engaged in the practice of law and does not render legal, accounting, or other professional services. In determining which federal or state forms supplied by Beanstalk Networks should be used in a particular situation, users of this manual should consult with their own legal counsel for advice. Beanstalk Networks makes no representation that it supplies forms for every state. Beanstalk Networks reserves the right to change this manual without notice. OpenClose is a registered trademark of Beanstalk Networks. All other brand and product names are trademarks of their respective holders. Page 2 of 216

3 Table of Contents 1 - Introduction... 8 Conventions Used in This Manual... 8 Audience... 9 Which Chapters to Read:... 9 System Requirements... 9 Web Browser... 9 Screen Resolution... 9 Pop-up Blockers Cookies PDF Files and Adobe Internet Toolbars User Types (Job Functions) Administrators (Lenders Only) Managers (Lenders Only) Account Executives (Lenders Only) Lender Employees (Lenders Only) Broker Companies BROKER USER LEVEL 1 (Branch/Broker Managers) BROKER USER LEVEL 2 (Originators) BROKER USER LEVEL 3 (Processors) Workflow Getting Around in OpenClose Managing Your Account Getting Started Logging In Forgotten Passwords Password criteria Logging Out User Settings User Information Tab Password Tab Link Outs Tab Site Preferences Tab Defaults Closing Scenarios (Origination Plus Customers Only) Loan Products (Origination Plus Customers Only) Document Groups (Origination Plus Customers Only) Intangible Taxes Contacts The e-doc Manger Date and Time Stamps Accessing Documents Editing Documents Page 3 of 216

4 Printing and ing Documents Document History Forms Origination Plus Customers Only Uploading Documents Fax Module Customers Only Loan Origination Intended Audience Creating a Loan Upload Loan How to Export Files From Calyx Point into OpenClose How to Export Files From Encompass into OpenClose How to Export Files from Contour into OpenClose How to Export Files from Genesis 2000 into OpenClose How to Export Files from Byte into OpenClose Entry Pipeline Summary Pipeline Statistics Lender s Version of the Pipeline Summary Pipeline Summary Icons Pipeline Search The Loan Action Menu Loan Actions: Loan Snapshot Borrower Information Loan Information Loan Status Closing Request Action (broker users) Workflow Locator (lender users) Edit Types & Terms Property Borrower Info Employment Income Housing Expense Assets Liabilities Details Declarations Agreement Fannie Mae Government Info Freddie Mac Submit to Processor View Contacts Order Credit Submit to AU Automated Underwriting Fannie Mae Desktop Originator (DO) Fannie Mae Desktop Underwriting (DU) Freddie Mac - Loanprospector.Com Submitting a Loan to the Lender Page 4 of 216

5 Intended Audience Using Submit Loan to Lender Loan Validation Reviewing a Loan Response Using Update Lender Processing Verifications Return to Originator Special Loan Scenarios Linked Loans Overview Creating a Linked Loan Other Features of Linked Loans Use Be Originator to create a linked loan as a Lender User Investment Property Ratio Calculations Net Rental Income Scenario 1: Borrower owns investment property with rental income. This home is not the subject property Scenario 2: Borrower owns investment property with rental income. This home is the subject property (Investment Refinance) Pricing and Registration Pricing and Registering a Loan Pricing and Registering a Loan (Decision Assist Customers Only) Pricing and Registering a Loan (UniFi Customers Only) Pricing and Registering a Loan (Without Decision Assist or UniFi) Reviewing a Lock Response UniFi Customers Only Non-UniFi Customers Only Lock Registration Responses Lock/Float Registration Responses Responding to the Float or Lock Request Underwriting Underwriting Loans Intended Audience Accessing a Queue Working on the File Deleting Conditions Clearing Conditions Workflow Functions Working with Submitted Loans Intended Audience Transferring a Loan Releasing a Loan Acquiring a Loan Work Group Management Intended Audience Overview Using Work Group Management Be Originator Page 5 of 216

6 11 - The Message Center Working with Messages Reporting Pipeline Reporting Creating a Pipeline Report Working with Saved Reports InfoCenter Overview Accessing the InfoCenter Creating Document Sub-Folders Editing Document Sub-Folders Deleting Document Sub-Folders How to Upload a Document How to Update a Document How to Delete a Document Contacts Contacts Creating a Contact Editing a Contact View Contacts Broker/Branch Company Administration Company Profile Groups/Regions Details Users Creating a Broker User Editing a Broker User Defaults Navigation Defaults Closing Scenarios, Loan Products, Document Groups and Link Outs Pipeline Management Lender Administration Groups and Regions Adding a Group or Region Editing a Group or Region Creating and Managing Users and Companies Creating a Lender User Looking up and Managing Lender Users Creating a Broker/Branch Company Looking up and Managing a Broker/Branch Company Creating a Broker User Looking up and Managing a Broker User Pipeline Management Workflow Maintenance Page 6 of 216

7 Overview Queues Work Groups Configuring Broker/Branch Workflow Overview Defining the Submit to Lender Workflow Defining the Registration Workflow Non-UniFi Customers Only Defining the Submit to Closer Workflow Defaults and Navigation Defaults Closing Through Accounting The Closing Screen The Post Closing Screen The Funding Screen The Accounting Screen The Secondary Marketing Screen Defaults Defaults Functionality Overview Example s of Using Defaults Managing Your Automated Underwriting Account(s) Managing Your Credit Accounts Master List of All Defaults Navigation Defaults Navigation Defaults The Fax Module Fax Module (Fax Module Customers Only) Faxing Your Document Viewing Your Faxed Document User Manual Updates This chapter provides a listing of the latest additions to this manual Page 7 of 216

8 1 Introduction Audience: All Welcome to OpenClose. OpenClose is a web-based software platform for mortgage banking which allows you to seamlessly handle a loan throughout its entire process from OPEN to CLOSE! OpenClose s modular design allows for web-based originating, processing, and managing of loans with tools for loan upload, digital document management and storage, product and pricing, locking, underwriting, secondary marketing and back office mortgage banking tasks. OpenClose significantly increases the number of loans that can be originated, processed, and funded while reducing the associated costs. The purpose of this manual is to provide you with the information you need to be an effective user. Note: OpenClose is a customizable solution. Your implementation may have slight differences from the information presented in this manual. Note: This manual assumes that the user has an understanding of the mortgage origination business. It is not meant to instruct a novice in the mortgage industry. Conventions Used in This Manual This manual uses certain conventions to help you more easily identify special terms and concepts. Menu options and screen components look like this: For example: Add a Loan, Message Center. Figures and references to figures are in bold. For example: See Figure 2.3 Text with emphasis is in italics. For example: you must save your data. Page 8 of 216

9 Audience Which Chapters to Read: This manual contains chapters for all job functions such as originators, processors, lender employees (such as underwriters) and administrators. To help you identify which chapters and sections are important to you and which sections you may be able to skip, an Audience section is listed at the start of each chapter. For example, if you are an originator and a chapter indicates it is only for lenders only, you know that you can skip that chapter. System Requirements OpenClose is a web-based software application which runs over the Internet. You do not need to install any software on your computer in order to use OpenClose other than a web browser. There are a few system requirements, however, that you should be familiar with when accessing the site. Web Browser You must use Internet Explorer version 8.0 or higher. Other web browsers such as Firefox and Netscape are not supported. To find out which version of Internet Explorer you are using, click the Help menu in your web browser and choose About. The version will appear in the window. If you access OpenClose with an incorrect web browser version, you will receive a message and will not be permitted to log in. To obtain the latest version of IE please go to Screen Resolution Figure About Internet Explorer OpenClose is optimized for a screen resolution of 1366x768. Page 9 of 216

10 Pop-up Blockers If you have pop-up blocking software installed, it may cause portions of OpenClose to function improperly. If you have pop-ups blocked, you will receive a warning message when accessing OpenClose letting you know that you must enable pop-ups. If you click on a function in OpenClose to open a new window and that window does not appear, disable your pop-up blocker. If you have purchased the Fax Module and the bar code does not display, disable your pop-up blocker. Hardware Recommendations (PC/Laptop) Recommend: Windows XP Pro, Vista or Windows 7 2 gigabyte (GB) RAM (32-bit) or higher Should have at least 750 MB to 1 GB of free space Page 10 of 216

11 Cookies You must have cookies enabled. Cookies are an option that is set on Microsoft Internet Explorer (IE) If cookies are not enabled you cannot log in. Note: Cookies are enabled by default so if you have not disabled them you do not need to adjust your settings. To enable cookies: Microsoft Internet Explorer Version 7.0+ Select Internet Options from the Tools menu. Click on the Privacy tab. Click the Default button (or manually slide the bar down to Medium) under Settings. Click OK. Note: No personal information is stored in these cookies. Note: If you receive a cookies error but your cookies are enabled, you may have the date set incorrectly on your computer. Make sure that your calendar is not set to a date in the future and that the time zone on your computer is correct. PDF Files and Adobe Many documents are posted to the InfoCenter and e-doc Manager in PDF file format. If you do not have the free Adobe Acrobat viewer and you wish to view or print a PDF-formatted document, you can download the viewer from the Adobe website directly at Internet Toolbars The Yahoo toolbar must be disabled in order to successfully use the Fax Module. Page 11 of 216

12 User Types (Job Functions) Every company that uses OpenClose has its own user hierarchy based on its own unique operations. Figure 1.2 below is a sample. Your company may not use all user types pictured below. Note that each colored band represents a different user level within OpenClose. Figure Sample OpenClose User Structure The following are the main user types in OpenClose: Administrators (Lenders Only) Administrators are responsible for configuring the system and creating users and companies. They do not participate in loan-level operations though they do have search and reporting tools. Administrators also are responsible for configuring and managing the InfoCenter. Managers (Lenders Only) Managers are lender employees who monitor and manage their subordinates pipelines. Managers have searching and reporting capabilities, can re-assign loans, and can post documents to the InfoCenter. Page 12 of 216

13 Account Executives (Lenders Only) Account Executives are lender employees who have originators assigned to them. An account executive s pipeline consists of those loans that have been registered or submitted by their originators. Account Executives can be configured to have write access to loans; however, most administrators prefer to turn off account executives write access. Lender Employees (Lenders Only) Lender Employees may include: Underwriters Closers Post Closers Lock Desk Staff Openers Secondary Marketing Staff Funders Accounting Staff They have full access to all lender-side loans in the system. Each lender employee can have his or her own pipeline of loans or can search for loans in the system as needed. A lender employee may be part of a Queue and may belong to a Work Group (as explained in Chapter 9). Page 13 of 216

14 Broker Companies A Broker/Branch Company can be a wholesale or correspondent Broker/Branch Company or a retail branch-- depending on your company s operations. Originators, processors, and broker managers all belong to their assigned Broker/Branch Company. Note: All broker users are assigned to one of three (3) levels. BROKER USER LEVEL 1 (Branch/Broker Managers) Broker User Level 1 users are branch or broker managers. They can run pipeline reports on all loans within their branch or company and can re-assign loans from originators and processors as needed. They are responsible for creating and managing their subordinate users (although they may receive assistance from administrators). They can originate loans and register locks. A Broker/Branch Company can contain more than one Broker User Level 1. BROKER USER LEVEL 2 (Originators) Broker User Level 2 users are loan originators. They have access to loans in their pipeline only. They can register loans for locks and floats. They have the full power of the OpenClose origination system available to them for their loans. BROKER USER LEVEL 3 Broker User Level 3 users. They have access to loans in their pipeline only. They have the full power of the OpenClose origination system available to them for their loans. They cannot lock loans or submit loans. The only difference between Broker User Level 2 and Broker User Level 3 is that Broker User Level 3 users cannot lock or submit loans. Page 14 of 216

15 Workflow Workflow is the movement of documents and/or tasks in a business process. Workflow in OpenClose is configurable. Your company s workflow diagram will vary from the diagram in Figure 1.3. There are two sides to the system, and each has a separate copy of the loan file: Broker/Branch Side Created when a loan is originated by a broker/branch user. Lender Side Created when a broker/branch user submits a lock registration or submits a loan to the lender. Broker users work on the broker/branch copy of the file and submit changes as applicable (if permitted by the configuration established by your administrators) Lender users work on the lender copy of the loan. Page 15 of 216

16 Figure Sample OpenClose Workflow Diagram Page 16 of 216

17 Getting Around in OpenClose The OpenClose screen is made up of the following components: A header with your company s branding and a welcome message. A top menu to access the Pipeline Actions, the Message Center and User Settings. Left Navigation menus with options based on your user type. A Loan Action menu for each loan in your Pipeline Summary. A footer with copyright information and a link to the user manual. Pipeline Action Menu Messages Available Message Center Loan Action Menu Left Navigation Figure 1.4 Initial Screen. Pipeline Summary Page 17 of 216

18 2 Managing Your Account Getting Started An administrator or manager will create a login ID for you and give you the URL address to enter in Internet Explorer to reach your login page. Once your account has been created, you will receive an automated message with your username and a temporary password. You will need this information to log in for the first time. Logging In To log in to your OpenClose account for the first time, you will need the username and temporary password that were ed to you when your account was created. Note: If this is your first time logging in you will be asked to choose a new password. Audience: All Open your Internet Explorer browser while connected to the Internet and go to the address that was provided to you in your account creation or use the address that was provided to you by your trainer or manager. Figure OpenClose Login Area Type your username into the login box and your password in the password box. Click the Login button. Page 18 of 216

19 Note: Passwords are case sensitive. A common mistake when logging in is typing the password while the caps lock is on. If you get a password error make sure your caps lock is not on. Forgotten Passwords If you forget your password, you may retrieve your password via . On the login screen below the Login button is a hyperlink to the forgot password screen. Note: If you forget your password, use this tool! If you try to log in with a bad password three times in a row your account will be locked and an administrator or a Broker User Level 1 will have to reset your account. Click forgot password (see Figure 2.1.) This will take you to the reset password screen (see Figure 2.2). Figure Reset Password Screen For security purposes a randomly generated temporary password will be ed to you. You will be required to change this password on your next login. If the address associated with your profile is incorrect or your account is inaccessible you will not be able to retrieve your password via . Please contact your administrator. Note: If you don t see this and your has spam/junk filters, be sure to check if the password reset was diverted by the spam/junk filter. Page 19 of 216

20 Password criteria Must be at least eight (8) characters. May not contain either your first or last name. May not be the same as any of your last five (5) passwords. Must meet three of the following criteria: At least one uppercase character. At least one lowercase character. At least one numeric character. At least one special character (SHIFT-numeric) Examples of good passwords are: GoodPassW1, goodpass!, Beanopen1 Note: your password will expire based on the settings configured by your administrator. When your password expires you will be asked to provide a new password the next time you log in. Logging Out You can end your session by clicking the Logout button located on the far right of the top menu. If you are idle for twenty (20) minutes your session will end. Figure Logging Out of OpenClose Note: If you are editing 1003 data (see Chapter 4) and have not saved your changes and your login is idle for twenty minutes you may lose the changes you made on that page. User Settings You can make changes to many aspects of your user profile. Many of the settings in this section can also be set globally by your system administrator. Page 20 of 216

21 The settings you set for yourself take precedence over the administrator s settings. For instance, if the administrator has set the number of messages per page to 10 and you change your individual setting to 20, then you will see 20 messages per page in the Message Center (see Site Preferences). Click the User Settings button located in the top menu. The User Settings window will pop up (see Figure 2.5). Figure Changing Your User Settings User Information Tab Figure User Settings Tabs The User Information tab is where you provide your contact information. Page 21 of 216

22 The most important part of your profile is your address. If your address is inaccurate, you will not be able to receive your password information for password resets and other important system notifications. Password Tab You can change your password at any time. To change your password, you must provide your current password (for added security). Link Outs Tab Link Outs are hyperlinks to other websites that can be saved in your profile for easy access. The links you set here are available only to you. Note: Link Outs can also be configured for everyone in the system by an administrator. Page 22 of 216

23 Figure Link Outs To use a Link Out, click on its name. The website will open in a new browser window. For each Link Out you can take three actions by clicking on an action icon (see Figure 2.7). Edit Click on the pencil icon to edit the Link Out. Deactivate Click on the deactivate icon to deactivate the Link Out. Delete Click on the delete icon to delete the Link Out. Figure Link Outs Action Icons To create a new Link Out click on the New Link-Out button (see Figure 2.8). Figure Create a New Link Out Page 23 of 216

24 Enter a name for the Link Out in the Linkout Name text box. For example: OpenClose Website Enter the web address in the Linkout Destination text box. For example: Check the Yes radio button under the Is this Link-Out active? Click the Save Link-Out button at the bottom of the window. Site Preferences Tab Under the Site Preferences tab of User Settings you can define how many items show per page (see Figure 2.10). You can choose between 10 to 50 items per page for loans in a Pipeline Summary or messages in the Message Center. From the drop-down boxes, select the number of items to appear per page for each type of item. The checkbox labeled restore default order of the menus allows you to return your left navigation options back to their default order. You can change the order of the left navigation menus by clicking and dragging a menu section using the two vertical bars (see Figure 2.9). Figure Click on the Vertical Bars to Move a Menu The Site Preferences tab also lets you control how documents in your e-doc Manager are displayed. See Chapter 3 for details on the e-doc Manager. Expand All On Open To have all e-doc Manager tree-sections expanded by default. Sort By Name Page 24 of 216

25 Sort by Last Modified You must click the Save Settings button in order for your changes to take effect. Figure Site Preferences Defaults Most Defaults will be set by your administrator. See Chapter 18 for more information about how to configure Defaults. Note: The following three sections are for Origination Plus customers only. Origination Plus is an add-on module which provides a comprehensive digital library of forms, disclosures and Page 25 of 216

26 verifications which are auto-populated with data from a loan and digitally stored in that loan s e- Doc Manager. Closing Scenarios (Origination Plus Customers Only) Closing costs scenarios are a powerful time-saver for loan originators and processors. You can create different closing scenarios for common closing costs scenarios. When you apply a scenario to a loan it auto-populates closing costs into the loan documents including the GFE and TIL (see Applying Closing Scenarios below). The actions you can take on a closing scenario depend on the following: Your user type Who created the scenario The following actions may be available (see Figure 2.11). Copy View Edit Deactivate Delete Page 26 of 216

27 Figure Closing Scenarios Figure Action Icons for Closing Scenarios To create a new closing scenario, click on the Add New Scenario button. The closing costs scenario designer allows you to enter information corresponding to all lines in the HUD. Figure 2.13 shows a partially filled out scenario with a 1% loan origination fee and $350 processing fee. Be sure to name the new scenario. Page 27 of 216

28 Click Save at the bottom of the screen when you are done and then remember to click Save Settings when finished with all closing scenarios changes. Figure Creating a New Closing Scenario APPLYING CLOSING SCENARIOS To apply a closing scenario to a loan, you must apply a template while editing the loan. From a loan s Action Menu choose Edit Loan Info (see Figure 2.14). Page 28 of 216

29 Figure To Apply a Closing Scenario or Loan Product You Must Edit the Loan The first section of the Loan Info tab allows you to apply templates (see Figure 2.15). Click on the magnifying glass icon and choose a closing costs scenario. The loan will be updated with the information from the scenario. Figure To Apply a Closing Scenario or Loan Product Click the Icon Page 29 of 216

30 Loan Products (Origination Plus Customers Only) The Loan Products tab is a powerful time-saver for loan originators and processors. This feature is most useful for pre-populating rate caps, index, and margin information for commonly used ARM products. This will save time when creating your TIL forms. When you apply a Loan Product to a loan, it auto-populates the loan specific information such as rate caps, indexes, and margins into the loan documents such as the TIL (see Applying Loan Products below.) The actions you can take on a Loan Product depend on the following: Your user type Who created the loan product The following actions may be available: Copy View Edit Deactivate Delete To create a new Loan Product click on the New Loan Product button. Figure Loan Products The loan product designer allows you to enter the following information: Page 30 of 216

31 Loan Term 1 st Adjustment Cap Figure 2.17 shows a partially filled out new 5/1 interest-only ARM loan product with a 5% 1 st adjustment cap and a 12 month adjustment period. Be sure to name the new loan program. Click Save at the bottom of the screen when you are entering a loan product done. Click Save Settings when finished with all loan products changes. Figure Creating a New Loan Product All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 31 of 216

32 APPLYING LOAN PRODUCTS To apply a loan product to a loan, you must apply a template while editing the loan. From a loan s Action Menu choose Edit Loan Info (see Figure 2.14). The first section of the Loan Info tab allows you to apply templates (see Figure 2.15). Click on the magnifying glass icon and choose a loan product. The loan will be updated with the information from the scenario. Document Groups (Origination Plus Customers Only) The Document Groups tab allows you to group together different documents. The documents are auto-populated with data from the loan and can then be printed all at once or transferred to the e-doc Manager. When sent to the e-doc Manager, each document is placed in its appropriate folder. All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 32 of 216

33 USING DOCUMENT GROUPS Figure Document Groups To use a Document Group, click on Document Groups from a loan s Action Menu. Select an existing Document Group from the dropdown box. You can now print all of the documents together with the Print Preview button. To change the order highlight a document in the Selected Documents box and click on the up/down arrows. You can add all of the documents at once into the loan s e-doc Manager by clicking on Add to Folder. All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 33 of 216

34 When added, the documents will appear in their appropriate folders and sub-folders. To create a new Document Group, click on the Create a New Document Groups tab. Enter a name for this new Document Group. Select all of the documents by either double-clicking or by using the select arrow. You can un-select documents by either double-clicking the document in the Selected Documents box or by using the select arrow. Select the Scope. The scope determines whether the Document Group will be available for the current user only, or for the entire company. Figure Using Document Groups All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 34 of 216

35 Figure Printing Document Groups Intangible Taxes The Intangible Taxes tab allows users to create and save intangible tax scenarios for use on lines 1202 and 1203 of the GFE. This feature makes it easy to calculate and populate values for City, State and County taxes. Click New to create a new Intangible Tax scenario. Assign a name to the scenario. Activate the scenario by clicking Yes for the Is this Intangible Tax active? button. Click to make the scenario available to other users within your company if you desire. Choose the correct state from the dropdown box. This will then populate the choices for city and county. Enter the appropriate information for the tax calculations. Click Save. All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 35 of 216

36 Figure Using the Intangible Taxes Tab Contacts See Chapter 14 for information on contacts. All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 36 of 216

37 3 The e-doc Manger Audience: ALL The e-doc Manager The e-doc Manager is the digital document folder for a loan file. All of a loan s files and documents are digitally stored in the e-doc Manager. To access a loan s e-doc Manager, choose Loan Snapshot from the loan s action menu. The e-doc Manager is located in the lower, right-hand corner of the Loan Snapshot screen. Date and Time Stamps Figure 3.1 The e-doc Manager You will see either a date or a time on the right side of the e-doc Manager for each document. If the document was created or last updated today, you will see a time stamp. If it was created or last updated on a previous day, you will see the date. All date and time stamps are in Eastern Time. All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 37 of 216

38 Accessing Documents The e-doc Manager is organized in a tree structure. Click the plus icon to expand, and click the minus icon to shrink. Once you have expanded a section of the e-doc Manager tree, you will see the documents available. Click the magnifying glass icon to view a document. If a document does not have a magnifying glass icon next to it, they you must click the pencil icon to enter the document s edit mode since calculations are required. Editing Documents To edit a document, click the pencil icon. Not all documents are editable. When editing you can do the following: Assign individual documents to individual borrowers. Populate loan information based on calculations. For instance, you can set a loan origination fee of 1% while editing the GFE. Printing and ing Documents There are two ways to print a document from the e-doc Manager. You can either view the document individually and print it from the view or edit screen, or you can use the print document icon to flag and print multiple documents. Documents that do not have the print document icon to the left of their name must be viewed and printed individually. Most of these documents have a print button when in view mode. To flag and print multiple documents, click on the print document icon so that it changes to a flagged print document icon. The Print link will appear in the top, right corner of the e-doc Manager. Click Print to generate the flagged document(s) in PDF file format for printing. The Print link will not appear until you flag at least one document for printing. You can also documents by flagging them and clicking on the link. Note: ed documents are encrypted and password protected. You can change the password before you send the , if you like. The default password used is the primary borrower s social security number. All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 38 of 216

39 Document History Figure Printing and ing in the e-doc Manager Every time a document is saved, a new version is stored in the loan s e-doc Manager along with the name of the person who saved it. To access a file s document history, click the plus sign icon next to the date stamp on the right side of the e-doc Manager. Figure Document History for the 1003 Some documents, such as the 1003, allow you to view previous versions. Click the View This Version button. To revert to a previous version of the document, click the User This Version button. Reverting to a previous version of a document makes updates the loan data to reflect that version. You can compare the differences between two versions of a file by checking those versions and then clicking on Compare Versions. The Difference Report generated by this action may also be printed. All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 39 of 216

40 Forms Origination Plus Customers Only Clients who purchase the Origination Plus module gain access to a library of forms including government forms, disclosures, state-specific forms, verifications, and other. When you add a form to a loan file, information from the loan auto-populates onto the form saving you time and reducing the risk of data entry errors. In the e-doc Manager section of the Loan Snapshot screen, click the Forms tab. Figure Origination Plus Forms Expand the forms options by clicking the plus icon where applicable. Click one or more documents so that the document icon is checked. Once you have selected all of the documents that you wish to add, click the Add To Folder link that appears in the top right corner of the e-doc Manager. The screen will reload and you will be taken to the Folder tab of the e-doc Manager where the document(s) you selected will appear. Each form will be in its appropriate folder. For instance, if you add a state disclosure, the file will appear in the State Disclosure folder (which can be found under the General tab). For data to auto-populate into a form, you must click the pencil icon. Forms get their initial data from the 1003, TIL, and GFE However, data entry and changes to these forms DO NOT change or update data on the 1003, TIL, and GFE. Uploading Documents Fax Module Customers Only Customers who have purchased the Fax Module can upload digital documents to loans. Click the Upload link located in the top right corner of the e-doc Manager. All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 40 of 216

41 Figure Upload Feature in the e-doc Manager In the Upload Document window that pops up, click the Browse button to locate the file you wish to upload. The supported file types are listed at the bottom of the window. Once you have located the file you wish to upload, double click it to push the file s path into the textbox. NOTE: Below are the suggested optimal DPI settings when scanning a document for upload: When scanning to PDF: Scan your image at DPI screen resolution. When scanning to JPG: Scan your image at 150 DPI. You may ZIP a Word or JPG file but not a PDF. Figure Upload Tool All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 41 of 216

42 Enter a name in the Enter the name text box. The name that you provide will be used in the e-doc Manager to identify the file. Click the Upload button. Note that it may take several minutes for the file to upload if it is a large file. Once the file has uploaded, you will be taken to the loan s e-doc Manager where the file will appear under the Uploads section. Figure An Uploaded Pay Stub NOTE: Uploading a document places it in your e-doc Manager. If you are a broker-side user and want the document to be available to the lender, you must send it using Submit Loan to Lender (if you have not submitted the file yet) or using Update Lender (if you have already submitted the file). If you are a lender-side user and want the file to be available to the originator you must check the box, Copy File to Originator (on the Upload Document screen popup screen). All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 42 of 216

43 4 Loan Origination Audience: Broker/Branch Managers Originators & Processors Lender Employees Intended Audience Typically, Broker User Level 1 and Broker User Level 2 users originate loan files. However, both Broker User Level 3 users and lender employees can also originate loans. Note: A lender employee and a Broker User Level 3 (processor) can upload or enter a loan. They must, however, assign an originator to that loan by clicking on the Select Originator magnifying glass. Figure 4.1 Lender employees and processors must select an originator when uploading or entering a loan Creating a Loan To create a new loan in OpenClose you can Upload an existing loan from your LOS system (such as Calyx Point ). Enter the loan data directly with OpenClose s 1003 entry system. The Add a Loan menu in the left navigation is the starting point for creating a loan. All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 43 of 216

44 Upload Loan Figure Add a Loan Menu Use the Upload Loan option if you have already created a loan file outside of OpenClose with another loan origination software program. The loan file should be in the industry standard Fannie Mae format (files ending in.fnm). All LOS systems allow you to export a loan into the Fannie Mae file format (.fnm) To upload a loan do the following: In the Add a Loan menu in the left navigation choose Upload Loan. Click the Browse button and locate the file on your computer. Double-click the file. You can select up to eight files in total, they will all be uploaded at the same time and assigned different loan numbers. Click the Upload Loan(s) to Pipeline button. You will be taken to the Pipeline Summary screen where you will see the file(s) that you uploaded. How to Export Files From Calyx Point into OpenClose Point can convert any borrower or prospect file to a Fannie Mae format. From Calyx Point: Open a borrower or prospect file. Click File->Export To->Fannie Mae 3.2 DO/DU (Local)... In the Export 1003 data to Fannie Mae DO/DU window, the file name will be POINT.FNM. The location should be C:\Winpoint\Work. You can change the location if you prefer. Change the first part of the name. For instance, change POINT.FNM to SmithJoe.FNM). All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 44 of 216

45 Click Save. A message reading "Exported to Fannie Mae file: " will appear. Click OK. From OpenClose In the Add a Loan menu in the left navigation choose Upload Loan. Click the Browse button and locate the file you just saved. Double-click the file. You can select up to eight files in total, they will all be uploaded at the same time and assigned different loan numbers. Click the Upload Loan(s) to Pipeline button. You will be taken to the Pipeline Summary screen where you will see the file(s) that you uploaded. Figure 4.3 Calyx Export How to Export Files From Encompass into OpenClose From Encompass: On your Pipeline select the loan to be exported. On the Action Panel, select the My epass tab. All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 45 of 216

46 Click the link to Fannie Mae DO for epass. In the Fannie Mae DO Storefront click the link to Export Loan to Fannie Mae Format. On the Save As dialog box select the folder in which you want to store the.fnm file. In the File name field enter a file name for the.fnm formatted file. From the Save as type list select Fannie Mae Version 3.2. Click Save. Click OK in response to the completion message. The exported file is now in the specified folder with the file name you assigned. From OpenClose In the Add a Loan menu in the left navigation choose Upload Loan. Click the Browse button and locate the file you just saved. Double-click the file. You can select up to eight files in total, they will all be uploaded at the same time and assigned different loan numbers. Click the Upload Loan(s) to Pipeline button. You will be taken to the Pipeline Summary screen where you will see the file(s) that you uploaded. All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 46 of 216

47 Figure 4.4 Encompass Export How to Export Files from Contour into OpenClose From Contour: While in the loan file click on the epass button. Select DO Info and Services. Select Export Loan to Fannie Mae Format. Select Save As. Choose a folder to save it to. Click OK Export. Contour generates the file. From OpenClose In the Add a Loan menu in the left navigation choose Upload Loan. Click the Browse button and locate the file you just saved. Double-click the file. You can select up to eight files in total, they will all be uploaded at the same time and assigned different loan numbers. Click the Upload Loan(s) to Pipeline button. You will be taken to the Pipeline Summary screen where you will see the file(s) that you uploaded. How to Export Files from Genesis 2000 into OpenClose From Genesis: While in the main menu, go to Export. Select FNMA 3.0/3.2 Link. Select File mode: Processing. Go to Pipeline, select Borrower. Select Save As. Choose a folder to save it to. The error log will be displayed. Genesis generates the.fnm file. From OpenClose In the Add a Loan menu in the left navigation choose Upload Loan. All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 47 of 216

48 Click the Browse button and locate the file you just saved. Double-click the file. You can select up to eight files in total, they will all be uploaded at the same time and assigned different loan numbers. Click the Upload Loan(s) to Pipeline button. You will be taken to the Pipeline Summary screen where you will see the file(s) that you uploaded. How to Export Files from Byte into OpenClose From Byte: While in the loan you want to submit click Communications, Lenders. Select Interface. Click Export Fannie Mae File. Open Interface. Set the Validation Method to Underwriting Validation. Set the File Version to Version 3.0. Click Create File. If errors are found click Close & Fix Errors. Supply the required information. Byte will create the Fannie Mae file and display its location. From OpenClose In the Add a Loan menu in the left navigation choose Upload Loan. Click the Browse button and locate the file you just saved. Double-click the file. You can select up to eight files in total, they will all be uploaded at the same time and assigned different loan numbers. Click the Upload Loan(s) to Pipeline button. You will be taken to the Pipeline Summary screen where you will see the file(s) that you uploaded Entry You can originate loans in OpenClose without the use of any other loan origination software. In the Add a Loan menu in the left navigation choose 1003 Entry. All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 48 of 216

49 Provide information about the primary borrower. Fields marked with an asterisk are required. Click the Save and Edit Loan button. You will be taken to the Edit 1003 screen where you can provide additional information about the file. See Edit 1003 later in this chapter for details on the 1003 Entry screens. Figure 4.5 Add a Loan All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 49 of 216

50 Pipeline Summary Once you have uploaded or entered several loans you will manage them from them Pipeline Summary screen. The Pipeline Summary is the initial screen you see when you log in. It can also be accessed from the Pipeline left navigation menu. You can click on any heading in the Pipeline Summary to sort by that column. When you sort a triangle appears in the heading to indicate sort order. If the triangle is pointing up the sort order is alphabetical or numeric order (or oldest first for dates). If the triangle is pointing down the sort order is reverse alphabetical or reverse numeric order (or newest first for dates). If you wish to reverse the sort order on a column click the column header again. You can customize the number of loans you see per page with Site Preferences (See Chapter 2, Site Preferences Tab). If your Pipeline Summary is larger than one page then navigation bars will appear to allow you to move from page to page. Figure 4.6 The Broker s Version of the Pipeline Summary All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 50 of 216

51 Pipeline Statistics At the top of the Pipeline Summary screen are pipeline statistics. The default Pipeline Summary view shows active loans only; therefore the statistics comprise figures on active loans only. If you change your Pipeline Summary view the statistics will adjust to calculate based on your selection. Figure Pipeline Summary Statistics for Active Loans Lender s Version of the Pipeline Summary The Pipeline Summary screen is slightly different for lender users. As you can see from Figure 4.8, if you are a lender user then your Pipeline Summary has two extra columns which are not available to broker users: The Broker Loan Number column (BR LOAN#). Remember that there are two copies of a loan; the broker-side and the lenderside. A lender employee has access to both copies from their Pipeline Summary. The ASSIGNED Column. The date/time this loan was assigned to you. This may be the time you took this loan off of a Queue or the time the loan was sent directly to you by another user. Figure 4.8 The Lender s Version of the Pipeline Summary All users other than Administrators have their own pipeline of loans. By default you always view your active loans only. Active loans are loans that do not have a status of Cancelled or Closed. You can select a different view option from the Pipeline Action menu if you wish to view prospect, cancelled, or closed loans, however each time you return to the Pipeline Summary screen your view will revert to active loans only. All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 51 of 216

52 You can always access your Pipeline Summary from the Pipeline left navigation menu. Pipeline Summary Icons Figure 4.9 Pipeline Left Navigation Menu The following icons are used to provide information in the Pipeline Summary. You can hold your mouse over any icon to see an explanation for that icon. Note: You can click on an icon to open its corresponding document. For instance, clicking on the icon will open up the lock approval document, and clicking on the icon will open up the DU findings. UWD Submitted to Underwriting Approved by Underwriting Underwriting Review Approved by Underwriting with Conditions Pending Additional Information Denied Cancelled Suspended ACTIONS Unread Messages Waiting DU Findings are Available (Note: Does NOT necessarily mean DU approval. You must click to look at the actual finings). LP Findings are Available (Note: Does NOT necessarily mean LP approval. You must click to look at the actual finings). All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 52 of 216

53 DO Findings are Available (Note: Does NOT necessarily mean DO approval. You must click to look at the actual finings). DU Response Error LP Response Error DO Response Error LOCK REGISTRATION ACTIONS Not Locked You have not yet submitted a registration (float or lock) on this file Float Requested You have submitted a float request but have not yet received a response Float Approved As Is Your float has been accepted without any changes Float Approved with Changes Your float has been accepted but with changes; view the Lock Response to see the changes highlighted in bold, red text and marked with a red asterisk Float Referred Your float request requires additional information; view the Lock Response for comments from the lock desk Float Denied Your float request has been denied; view the Lock Response for comments from the lock desk Lock Requested You have submitted a lock request but have not yet received a response Lock Approved As Is Your lock has been accepted without any changes Lock Approved with Changes Your lock has been accepted but with changes; view the Lock Response to see the changes highlighted in bold, red text and marked with a red asterisk Lock Referred Your lock request requires additional information; view the Lock Response for comments from the lock desk Lock Denied Your lock request has been denied; view the Lock Response for comments from the lock desk Lock Expiring Your lock is due to expire in one week Lock Expired Your lock has expired Pipeline Search To search choose Search Loans from the Pipeline Actions menu or Search from the Pipeline left navigation menu. If you are a broker user you can search for loans in your pipeline only. All information contained in this document is confidential and proprietary and may not be reproduced or disclosed to anyone not originally Page 53 of 216