BROKER GUIDE TO LOAN ESTIMATE GENERATOR (LEG)

Transcription

1 BROKER GUIDE TO LOAN ESTIMATE GENERATOR (LEG) This guide is intended t prvide step by step instructins n inputting a lan int the Lan t prduce a Lan Estimate. I. Lgin t HmeBridge Prtal Fr best results, use Ggle Chrme, Firefx r Internet Explrer 11 and disable ppup blckers G t Click n HmeBridge Prtal in the middle f the hme page Lgin t the HmeBridge prtal using credentials prvided at time f brker apprval Select Enter Brker Prtal This will take yu t the main navigatin page with the fllwing drpdwns: Brker, My Pipeline, Autmated Underwriting System (AUS), Lcking/Pricing, Brker Tls, BlitzDcs, Training Rm and Help Versin Page 1 f 14 HmeBridge

2 Under Brker Tls, select Lan (TRID Lans) II. Uplad FNMA 3.2 file Branch will ppulate based n individual user lgin Select Brwse Search fr 3.2 Nte: Valid file types.txt and.fnm Select Imprt The summary screen belw will appear and include the fllwing tabs: Histrical Transactins Lan Estimate Details Lan Estimate Fees Mrtgage Brker Inf Versin Page 2 f 14 HmeBridge

3 III. Histrical Transactins This sectin will prvide access t previusly generated Lan Estimates My Transactins User has access t previusly generated Lan Estimates generated under their individual lgin Recent Branch Transactins User has access t previusly generated Lan Estimates by users in their branch Search Results Allws fr searches based n Last Name, Brker Lan ID r Transactin ID IV. Lan Estimate Details Validate data in the Lan Details and Subject prperty tabs and input any required data (*) Lan Details Review all fields that ppulated based n data in the 3.2. Cmplete any required fields (*) and blank fields, if applicable Mrtgage Type This field will aut-ppulate Nte: Select Cnventinal as Mrtgage Type fr Jumb lans Versin Page 3 f 14 HmeBridge

4 Prduct Select the apprpriate prduct based n Mrtgage Type Lan Term This field will ppulate nce Prduct is selected and is nt editable Interest Rate This field will aut-ppulate and is editable ARM Plan Select Margin frm drpdwn Input Index Prgram Select the apprpriate prgram, if applicable Sales price This field will aut-ppulate n a purchase transactin and is editable Market Value This field will aut-ppulate and is editable Versin Page 4 f 14 HmeBridge

5 Lan Amunt This field will aut-ppulate and is editable Mrtgage Insurance Financed Cnventinal Lans Select Add MI, MIP, Guarantee Fee Brrwer Paid Mnthly Select MI Plan Input Mnthly Premium Rate Starting Payment Input term start date fr Premium rate input Ending Payment Input term end date fr Premium rate input Mnthly payment will ppulate Select Save Versin Page 5 f 14 HmeBridge

6 Brrwer Paid Single Premium Select MI Plan Input Single Premium Rate Upfrnt Amunt will ppulate Select Save Lender Paid Single Premium Select MI Plan Input Single Premium Rate Upfrnt Amunt Due will ppulate Select Save Versin Page 6 f 14 HmeBridge

7 Mrtgage Insurance Financed FHA/USDA Lans Amunt Financed Leave blank if paid in cash Amunt Financed Cmplete field, if financed Upfrnt/annual amunts will ppulate n the Lan Estimate Select Save Mrtgage Insurance Financed VA Lans Select Military Type Secndary r Subsequent use Exempt/Service Cnnect Vet Custm Funding Factr Input VA Funding Fee percentage, if applicable VAFF will ppulate n Lan Estimate Versin Page 7 f 14 HmeBridge

8 Ttal Lan Amunt This field will aut-ppulate and is nt editable Originatin Credits/Pints Lender Paid Cmp Input Ttal Price Input credits as a negative and pints as a cst Select Cmp type as Lender Paid If Lender Paid, Use ur Plan Select Yes t ppulate Brker Cmpensatin based n selected amunt with HmeBridge Select Save Brrwer Paid Cmp Input Ttal Price Input credits as a negative and pints as a cst Select Save Estimated Settlement Date Input Estimated Settlement Date This field will nt be used t calculate per diem interest and will be remved at a later date Seller Credit Input, if applicable Versin Page 8 f 14 HmeBridge

9 Purchase Mney Depsit Input, if applicable Rate Lcked Select Yes r N If lcked, input Lck Type If lcked, input Expiratin date Escrws Waived Select Yes r N Click n Subject Prperty tab Subject Prperty Prperty Address This field will aut-ppulate and is editable Select USPS Check t validate address HmeBridge des nt accept TBD prperties Versin Page 9 f 14 HmeBridge

10 Prperty Type Select apprpriate prperty type Prject Classificatin Select apprpriate classificatin Optins will be based n Prperty Type selected Number f Units Input this field CEMA Input this field Unpaid Balance Amunt This field will aut-ppulate n a refinance and is editable Input Mnthly Hazard Insurance, Real Estate Taxes and HOA dues, if applicable Mrtgage Insurance will ppulate based n input under Lan Details Versin Page 10 f 14 HmeBridge

11 V. Lan Estimate Fees Validate and review fee details in the screens belw Generate Lender Fees New Fee New Escrw Originatin Credits Generate Lender Fees Click n Generate Lender Fee s and fees will ppulate based n HmeBridge requirements and subject prperty cunty Sme fees will nt be editable and thers will allw fr editing, this is determined based n the line number and hw it is displayed Fees nt editable will appear in gray Fees editable will appear in blue and be underlined Fee des nt allw fr edits Fee allws fr edits This is a list f fees that are nt editable Underwriting Fee Will aut-ppulate HmeBridge s Underwriting Fee, will nly be editable if nt ur cmp plan selected in Lan Details, under Brker Cmpensatin Originatin Credits Will aut-ppulate based n pricing input in Brker Cmpensatin field Daily Interest Will default t 15 days and is nt editable Deed Recrding Deed Recrding is a fee fr the dcument that details wnership rights t the prperty. This ptin wuld nt be available n a refinance transactin, the assumptin is that wnership is nt transferred Mrtgage Recrding Mrtgage Recrding is a fee fr the dcument that specifies the lan terms and respnsible parties t be in mrtgage/deed f trust (Deed f Trust/Mrtgage fr this transactin) Versin Page 11 f 14 HmeBridge

12 City/Cunty Tax/Stamps This fee is based n data received frm a title service that we use t determine fee s Other fees/escrws will be editable and will shw the HUD# underlined, indicating this field is editable and include, but are nt limited t items belw Tax Service Fee Fld Certificatin Fee Hmewner s Insurance Premium Hmewner s Insurance Prperty Tax Escrw Settlement Fee Owner s Title Insurance (ptinal) T edit a fee, click n the HUD Line # t pen up this item The fee amunt is the nly edit allwed New Fee T add a new fee - Select fee based n HUD Line # (listed in rder f HUD lines) and input the fee amunt Versin Page 12 f 14 HmeBridge

13 New Escrw Add any additinal escrws by selectin escrw item Cmplete the Annual Amunt due and number f mnths cllected Select Save Originatin Credits Originatin Credits This will nly ppulate if there is a credit t the brrwer fr rate Review f all fee input n Lan Estimate Fees screen HUD Line # - This is the ld HUD line number fr easy reference (fee drpdwn in rder f HUD Line#) Descriptin Fee Name that will print n Lan Estimate Brrwer Amunt Fee Amunt that will shw as a brrwer charge n the Lan Estimate Finance Charge Amunt This will indicate fee s included in the APR Fee Rule Mdified This bx will be checked if a fee is mdified by the user Manual Fee These are fees manually added by the user Delete Fees manually added by user are the nly fees that can be deleted Versin Page 13 f 14 HmeBridge

14 VI. Mrtgage Brker Inf Mrtgage Brker infrmatin is editable, if needed Select Generate LE nce all input is cmpleted Lan Estimate versin generated will be determined by lan purpse Exit nce finished r select Return t Imprt Page t imprt a new lan Versin Page 14 f 14 HmeBridge