Working with Loan Files Revision 9.11

Working with Loan Files Revision 9.11

CHAPTER 3: WORKING WITH LOAN FILES... 3 CREATING NEW LOANS... 3 Navigating the Loan File... 4 Quick Navigation Bar Layout... 6 This Loan Info... 9 FILLING OUT THE LOAN APPLICATION... 10 Adding Multiple Borrowers... 11 Creating Linked Loans... 12 ORDERING CREDIT REPORTS... 14 LIABILITIES... 17 NON-REAL ESTATE ASSETS... 18 REAL ESTATE OWNED (REO)... 19 Creating New REO Records... 19 Linking REO to Mortgage Liabilities... 20 GENERAL TRACKING... 21 Changing the Loan Status... 21 Tracking Documents... 22 Keeping a Conversation Log... 22 AGENTS... 23 Assigning Internal Employees... 23 Adding Official Contacts... 24 PRINTING DOCUMENTS... 27 Installing eprint... 28 Printing with eprint... 30 Saving and Printing Documents as PDF Files... 31 MANAGING MULTIPLE LOAN FILES... 32 Managing Loans from the Pipeline... 32 Managing Loans from Advanced Search... 34 WORKING WITH LEAD FILES... 36 Creating Lead Files... 36 Changing the Lead Status... 37 Assigning a Lead File... 38 Converting a Lead File to a Loan File... 38 2

Chapter 3: Working With Loan Files Loan origination and processing on Lender s Office is designed to be intuitive and easy to learn. This chapter will discuss how to create loan files and how Lender s Office handles some common loan scenarios. Figure 1: This Loan Info screen inside of a loan file Creating New Loans 1. From the Pipeline screen, click on the Create Loan link under the Loans section of the Navigation Bar (see Figure 2). Figure 2: Create Loan link 3

2. The Loan Template List will appear (see Figure 3). Choose which loan template you would like to use to create a loan file. If you want to start with a blank loan file, click on the <-- Blank Template --> link. For more information about using loan templates, see Using Loan File Templates in Chapter 2, Getting Started. Figure 3: Choose a Loan Template 3. Complete the rest of the loan application. Navigating the Loan File You can navigate through different sections of the loan file in three different ways. On the left side of the screen, you ll see the Quick Navigation Bar (see Figure 1). It allows you to go to different sections of the loan file by clicking on the appropriate links. The links of the Quick Navigation Bar are organized into 14 different folders. File Tasks Underwriting Status Loan Info Subject Property Borrower Info Forms FHA VA Disclosure Forms Request Forms Services Obsolete Forms 4

Clicking on these folders will collapse or expand the folder to display the links and any subfolders inside of it (see Figure 4 ). Figure 4: Folder structure The second way to navigate through the loan file is by clicking on the folder tabs near the top of the screen. On the This Loan Information screen, there are three folder tabs: This Loan Information, Up-Front MIP / FF, and Other Financing (see Figure 5). Clicking on these folder tabs is the same as clicking on the corresponding link inside the Quick Navigation Bar. Figure 5: Folder Tabs are found near the top of the screen The third way to navigate through a loan file is by using the Navigation Buttons located in the upper left corner of the loan file screen (see Figure 6). Figure 6: Navigation Buttons Similar to the back and forward arrow buttons on your Web browser, clicking the Back and Forward buttons will take you to the screens you were previously viewing. Once you make any modification to the loan file, the Save button will be made available. If you do not save your work and try to go to another section of the loan file, Lender s Office will automatically ask if you want to save your changes before proceeding. 5

Clicking on the Print button will take you to the Print screen where you can print your documents or save them as PDF files. For more information about printing your documents, see Printing Documents. Quick Navigation Bar Layout The Quick Navigation Bar has 14 different main folders and over 100 links. In this section, we ll layout the structure of the Quick Navigation Bar and provide brief descriptions to some of the more commonly used links. File Duplicate this file Borr/Coborr Management Print Export To Calyx Point To Fannie Mae Create sub-financing loan Create template from file Close file Create a duplicate copy of the loan file with a new loan number. Settings to swap the position of the borrower and co-borrower, add additional applications to the file (used for non-married co-borrowers), and swap the position of the primary borrower. Access the print screen as well as Print Groups. Export current loan file to Calyx Point (*.brw) format Export current loan file to Fannie Mae (*.fnm) format. Create a linked second loan to the loan file. Create a Loan File Template based on the current loan file. Close the current loan file. Table 1: Contents of the File folder Tasks Create new task Task List Create a new task for current loan file. View all tasks for the current loan file. Table 2: Contents of the Tasks folder Underwriting Certificate Submitted PML Summary View Broker Notes to Underwriter Rate Lock Conditions DocMagic View and print loan certificate submitted by broker. Tools to view and email a summary of the submitted loan to the assigned Account Executive, Official Loan Officer, and others. View all notes created by submitting broker for underwriter. Rate lock tools including Rate Lock History, Rate Lock Notes, etc. View, edit, or add underwriting conditions. Export loan file to DocMagic. Table 3: Contents of Underwriting folder 6

Status General Agents Trust Accounts HMDA Funding Commissions Audit History Tracking page used to update loan status and manage internal notes. Assign loan file to internal employees; attach external agents (escrow, title, appraisers, etc.) as Official Contacts to loan file. Record and track funds submitted by borrower into trust accounts. Input information required for HMDA reporting. Tools for assigning funding source. Calculate loan officer commissions and fees. Available to Administrator and Management roles only. Records time and date of loan events (loan creation, submission, deletion, etc.) Table 4: Contents of Status folder Subject Property Description Rental Income Enter details about the subject property. Enter rental income details about subject property. Table 5: Contents of Subject Property folder Borrower Info Borr. Info Borr. Employ. Coborr. Employ. Monthly Income Liabilities Assets REO Pres House Expense Basic contact information about borrower and co-borrower Employment information for borrower. Employment information for co-borrower Information on borrower and co-borrower income. Liabilities for borrower and co-borrower. Includes links to ordering and viewing credit reports. Record non-real estate assets for borrower and co-borrower. Record real estate assets held by borrower and co-borrower. Enter details on borrower current housing expenses. Table 6: Contents of Borrower Info folder 7

Forms GFE Loan 1003 (Pages 1-4) Truth In Lending Section 32 Disclosure ARM Program Disclosure CA MLDS (Pages 1-2) 1008 Single 1008 Combined Lock-In Confirmation Loan Submission Loan Commitment Credit Denial Mortgage Loan Origination Agreement Aggregate Escrow Account Servicing Disclosure Flood Hazard Notice TX Mortgage Broker Disclosure Verifications VOD VOE VOM/R VOL More Verif Land Contract 1003 Uniform Residential Loan Application (URLA) Good Faith Estimate form for entering closing cost fees. Closing cost templates are accessed from this screen. Reg-Z/TIL screen for entering loan payment details, ARM and Option ARM details, amortization schedule, pre-payment, mortgage insurance, interest only period, etc. Additional details regarding balloon loans. Additional details regarding ARM loans. California Mortgage Loan Disclosure Statement Summary of loan file for underwriting purposes on a single 1003 application. Summary of loan file for underwriting purposes on multiple 1003 applications (multiple borrowers). Details on rate lock confirmation. Create a generic loan submission sheet. Details on Mortgage Loan Commitment. Details on Credit Denial Statement. Details on Mortgage Loan Origination Agreement. Details on Aggregate Escrow Account. Details on Servicing Disclosure Statement. Notice of flood hazard form. Disclosure statement for Texas mortgage brokers and loan officers. Verification forms (all verification forms automatically generated). Verification of Deposit forms. Verification of Employment forms. Verification of Mortgage/Rent forms. Verification of Loan forms. Verification of Land Contract forms. Displays the Print screen. Table 7: Contents of the Forms folder 8

FHA VA Disclosure Forms Credit Score Disclosure Request Forms Request for Appraisal Request for Insurance Request for Title Survey Request Services Order Credit View Credit Credit Scores DocMagic Obsolete Forms Save Menu Layout All FHA loan-related forms. All VA loan-related forms. Contains various disclosure forms. Disclosure regarding borrower/co-borrower credit score information. Generic request forms for various mortgage services. Generic appraisal request form. Generic insurance request form. Generic title request form. Generic survey request form Access linked services. Order / reissue credit reports. View previously ordered credit reports View credit score and other details. Export loan file to DocMagic. Access outdated GFE, 1003, and HMDA forms. Allows you to customize and save the default arrangement of the Quick Navigation Bar. Table 8: Other forms and services folders This Loan Info The very first thing that you see when a loan file is created is the This Loan Info screen (see Figure 1). Lender s Office automatically generates a loan number based on the Loan Naming Scheme you specify. For more details about the loan naming scheme, see Setting Up Your Company in Chapter 2. In Figure 7, you can see several links that will take you directly to the related sections. These kinds of links are found throughout the loan file. Figure 7: Links will take you to different sections 9

Filling Out the Loan Application Most of the information you enter into the loan file is linked and cross-referenced to different sections of the loan file. This means that filling out the loan amount on the This Loan Info screen will automatically fill out the loan amount on the 1003, Good Faith Estimate, and Truth In Lending forms and vice versa (see Figure 8). Figure 8: Loan Amt is automatically filled out in all related sections of the loan file This leaves you with a couple of ways to complete a loan application. You can fill out different sections and let it populate to the loan application or go with the more traditional route of filling out the electronic format of the 1003 form. In fact, you can mix both methods and find whatever way is most comfortable for you. Note: Lender s Office will frequently ask Do you want to save changes? when you move from one screen to another. This occurs because Lender s Office is constantly updating your loan file at the server level, allowing others to view those changes. Click Yes if you wish to save your changes and proceed to the next screen. Click No to proceed without saving changes. Click Cancel to stay on the current screen without saving your changes. 10

Adding Multiple Borrowers The Borr/Coborr Management tool allows you to add multiple borrowers to your loan file and manage the position of each of borrower. 1. From inside the loan file, click on the Borr/Coborr Management link under the File folder in the Quick Navigation Bar (see Figure 9). Figure 9: Borr/Coborr Management link 2. Each non-married co-borrower must have a separate loan application. A loan file may have more than one loan application in it depending on how non-married borrowers are taking out the loan. Click Add new borrower to add a borrower to the loan file (see Figure 10). Figure 10: Jonathan and Charles each have their own application inside the loan file 3. Fill out the loan application for the additional borrower(s). Copies of all relevant forms will be automatically created for added borrowers. You can switch between borrower applications by choosing a borrower name in the borrower list (see Figure 11). Figure 11: Switch between borrower applications 11

4. The Borr/Coborr Management tool allows you to change the positions of all the borrowers on the loan file (see Figure 10). a. Is Primary?: Change the position of the Primary borrower by selecting this option button next to the borrower s name b. Swap borr & spouse: Click this link to switch the positions of the borrower and co-borrower. c. Delete spouse: Click this link to remove the co-borrower information from the loan application. d. Delete this borr & spouse: Click this link to remove the co-signer(s) loan application from the loan file. Creating Linked Loans You can easily create a 2 nd lien on a loan file using the Create Subfinancing Loan File feature. Using this feature allows you to copy most of the information from the 1 st lien loan file to the new 2 nd lien loan file and link them together so that changes made to the 1 st lien loan file can be easily updated to the 2 nd lien loan file. 1. Click on the Other Financing Info link under the Loan Info folder of the Quick Navigation Bar (see Figure 12). Figure 12: Other Financing Info screen 2. Fill out the Additional 2nd lien section with the mortgage details of the 2 nd lien (see Figure 12). This step will ensure that both the 1 st and 2 nd loan files will have the correct values when the 2 nd lien file is created. 12

Figure 13: Create subfinancing loan file link 1. Click on the Create subfinancing loan file link inside the File folder of the Quick Navigation Bar (see Figure 13). 2. A confirmation window will appear asking if you want to create a subfinancing loan file (see Figure 14). Click OK to proceed. Figure 14: Click OK to create the 2nd lien file 3. Review the mortgage information for the 2 nd lien on the This Loan Info screen. Notice that the 2nd mortgage option is automatically selected in the Lien Position list (see Figure 15). The loan details are carried over from the Other Financing Info page of the 1 st lien file. Figure 15: The newly created linked 2nd lien file 13

4. From the 2 nd lien file, go to the Other Financing Info screen to confirm the 1 st lien information (see Figure 16). Figure 16: The 2nd lien file's Other Financing Info screen 5. Any changes made inside of the 1 st lien file can be automatically transferred to the 2 nd lien file by clicking the Update button inside the Other Financing Info screen of the 1 st lien file (see Figure 16). 6. To view the linked loan file, click on the Go to button (see Figure 16). 7. To separate the two loan files, click on the Unlink button (see Figure 16). Ordering Credit Reports Lender s Office is integrated with over 200 different credit reporting agencies (CRA), allowing you to order, view, and print credit reports directly from within Lender s Office. All credit report information, including credit scores, scoring factors, and liability information are automatically imported into your loan file. To order credit reports: 1. From inside the loan file, click on the Order Credit link inside the Services folder of the Quick Navigation Bar (see Figure 17). Figure 17: Order Credit link 14

2. The Credit Report Request screen will appear. Select your desired credit agency from the Credit Agency list (see Figure 18). Figure 18: Credit Report Request screen 3. There are two different ways to order credit (see Figure 19): a. Order new report: Select this option to order a brand new credit report. You must select the bureaus you wish to order from: Equifax, Experian, TransUnion, or Fannie. Figure 19: Order a new report or re-issue an existing report b. Re-issue existing report: Select this option if you have previously ordered a credit report for the borrower and do not wish to order a new file. You must enter the credit report ID/file number and, in some cases, the Instant View ID number. Re-issuing a credit report is merely asking for a copy of an existing report from the credit agency and should not have negative effects on the borrower s credit score. Depending on your CRA, there may be an additional charge for re-issuing credit. 15

4. Enter the credit login and password information given to you by the credit agency (see Figure 20). Figure 20: Enter the credit login information issued by your credit agency 5. Some of the credit agencies that Lender s Office is integrated with use Fannie Mae s credit interface to authenticate the credit request. These agencies are indicated by a three digit number following the agency name (see Figure 21). Figure 21: Three-digit number indicates CRA uses the Fannie Mae credit interface If the CRA uses the Fannie Mae credit interface, a DU UserID and DU Password will also need to be entered (see Figure 22). Figure 22: Enter your DU UserID and DU Password Note: For Administrators, if you do not want to distribute your company s DU User ID and password to each of your employees, the Lender s Office Support Team can save the DU information to your company s account. Once the DU information is saved, your users will no longer be asked to enter when requesting credit. Your users will not be able to view your DU information. View this page for more information: https://secure.lendersoffice.com/help/faq/howdoigetaduaccounttoacce.asp 6. Enter the rest of the borrower s information and then click Submit. The credit report will automatically display and all credit data will automatically populate your loan file. 16

Liabilities Section VI of the 1003 Application contains the Liabilities imported from the credit report. The Liabilities screen can be accessed from the Liabilities link under the Borrower Info folder of the Quick Navigation Bar or through the Liabilities link located towards the bottom of Page 2 of the 1003 loan application. Figure 23: Liabilities screen Liabilities are automatically imported from credit report and displayed in your list of liabilities in the middle part of the screen (see Figure 23). If there are any duplicate records, Lender s Office will ask whether or not you want to use the newer or older liabilities record. Liabilities will display on the 1003 in the order listed on the screen. To change the order of a liability, select on the liability item you wish to move and click on the Move Up or Move Down button. You may also save the creditor contact information to your contacts by clicking on the Add to Contacts link. If you have previously saved the contact information for a creditor, you can populate that information by clicking on the Pick from Contacts link. 17

Non-Real Estate Assets Section VI of the 1003 Application contains a link to the non-real estate assets section. You can also select the Assets link inside the Borrower Info folder from the Quick Navigation Bar. Figure 24: Non-real estate assets 1. Click Add to create a new asset item (see Figure 24). 2. Select the borrower and the asset type from the drop down menus. Enter the details of the asset and click on Save. 3. A list of assets will display on the middle portion of the screen. Click on the appropriate asset to edit. 4. The assets will display on the 1003 in the order that is shown. To change the order of assets, click on the asset you wish to move, and click the Move Up or Move Down button. 5. You may also save the asset account information to your Contacts by clicking on the Add to Contacts link. If you have previously saved the contact information for a creditor, you can populate that information by clicking on the Pick from Contacts link. 18

Real Estate Owned (REO) There are two places where you can find REO information: Section VI of the 1003 Application and the REO screen. By clicking the REO link inside the 1003 Application, you will be re-directed to the REO screen. The REO screen can be accessed directly by clicking the REO link inside the Borrower Info folder of the Quick Navigation Bar. Figure 25: REO screen Creating New REO Records 1. From the REO screen, click Add. 2. Fill out the relevant information for the borrower s property. 3. Click Save to save the REO record. 19

Linking REO to Mortgage Liabilities Lender s Office provides a feature to link mortgage liabilities to REO records in order to save you the trouble of entering the property address and payment information twice. 1. Create a REO record. See Create New REO Record section for details. 2. Click on the Liabilities link inside the Borrower Info folder of the Quick Navigation Bar. 3. Create a new liability entry by clicking Add or select an existing liability to modify (see Figure 26). 4. Select the Mortgage option in the Debt Type list. This will make the Property Address list available for you to choose a REO record to link to (see Figure 26). Figure 26: Linking a mortgage liability to a matched REO property 5. Choose an REO property in the Property Address list. 6. If you would like to add the balance and payment information found on the mortgage liability to the REO record, click Add Bal/Pmt Info to REO. Note: By clicking on Add Bal/Pmt Info to REO, the balance and payment information will be added on to any existing values in the REO record. If the balance and payment information was already entered in the REO record before clicking on Add Bal/Pmt Info to REO, the REO information will be doubled. 20

General Tracking Real-time tracking of loan statuses is a key benefit of Lender s Office. The General Tracking feature allows everyone in your organization to effectively manage loan status updates as well as record the completion of certain documents and record conversation log notes. Changing the Loan Status Figure 27: General Tracking screen 1. Click on the General link inside the Status folder of the Quick Navigation Bar. 2. The General Tracking interface is displayed in Figure 27 above. To change the status of a loan, enter a date in the appropriate field. Typing the letter t in any date field will automatically enter today s date. 3. The current status of the loan is automatically determined according to the most recently entered date. In Figure 27, the File Status shows Loan Approved because the Approved date (04/22/07) is more recent than the Submitted (04/20/07) and Open (04/16/07) dates. 4. You can manually force a loan to a certain status by selecting the Lock check box next to File Status. When the Lock check box is selected, the Change Status button is made available, allowing you to select a new loan status. After selecting the new status, the new locked status date will automatically be generated. 21

Tracking Documents Loan statuses are not the only things that are able to be tracked inside Lender s Office. You can also keep track of when documents are ordered, due, and received. Just enter the date in the appropriate fields to start tracking them (see Figure 28). Figure 28: Document tracking and the Conversation Log Keeping a Conversation Log In order to maintain a universal communication channel between all employees who have access to a loan file, a conversation log may prove to be useful. The Notes section inside of the General Tracking interface can be used to keep such a log. Users can enter their message and click on Date & time stamp to record the date and time the message was entered (see Figure 28). An alternative way to keep a Conversation Log is by using our Task system. For more information about tasks, see Chapter 5, Tasks. 22

Agents The Agents screen lists all the individuals and companies associated with your loan file. You can access the Agents screen by clicking on the Agents link inside the Status folder of the Quick Navigation Bar. The Agents screen is divided into two major areas: INTERNAL ASSIGNMENT and OFFICIAL CONTACT LIST FOR THIS LOAN (see Figure 29). Figure 29: Agents screen Assigning Internal Employees The Internal Assignments section shows which employees are currently assigned to the loan file. When an employee s name is selected for a loan file, the loan will be displayed in their Your Pipeline folder tab on the Pipeline screen. Note: Only one employee for each role can be selected in a loan file. An employee may also have more than one role in their account. Thus, it is possible that an employee may be assigned to a loan file under multiple roles. When you are done originating a loan file, you can instantly transfer that loan to a different employee pipeline by clicking on the assign link next to the role and selecting the individual you would like to assign the loan file to. The following is an example of how to assign a Lock Desk to a loan file. 1. Click on the Agents link inside the Status folder of the Quick Navigation Bar. 2. Click on the assign link next to the Lock Desk role (see Figure 29). 3. A window should appear with a list of eligible Lock Desk agents. Select a Lock Desk agent by clicking on their name. 4. The Lock Desk agent s name should now be displayed on the Agents screen. 23

An alternative would be to use the Relationships setting to automatically assign loan files to different employees when they are created. For more information about relationships, see the Relationships section in Chapter 2, Getting Started. Adding Official Contacts The Official Contact List is used to associate different individuals and companies that are associated with the loan file. These include lenders, appraisers, title agents, listing agents, and other parties that are involved with the loan (see Figure 30). Figure 30: Official Contact List screen 1. Click on the Agents link inside the Status folder of the Quick Navigation Bar. 2. Click on Add People to access the Official Contacts List screen (see Figure 29). 3. Choose a contact type from the Contact Type list (see Figure 30). 4. Fill out the appropriate information. a. If the individual or company is part of your Contacts, click Pick from Contacts to populate their information and select your desired contact. b. If the individual or company is not part of your Contacts, enter all of the contact information. Click Add to Contacts to add this new contact to your Contacts. 5. Certain contact types can be included in different forms in Lender s Office. Select the Copy to Prepared-By Fields for Appropriate Forms Upon Save check box to include the contact name on those fields. For a listing of the forms affected by the different contact types, see 24

Contact Type Appraiser ECOA Homeowner Insurance Escrow Lender Listing Agent Loan Officer 1 Only applicable when using the Populate from Official Contact option. Mortgagee Processor Forms Affected FHA Request For Insurance Endorsement (HUD-54111) FHA Analysis Appraisal Report Equal Opportunity Act Request for Insurance Request For Appraisal Uniform Loan Submission Sheet California Mortgage Loan Disclosure Statement (CA MLDS) Certification of Loan Disbursement (VA 26-1820) FHA Addendum (Sponsor section - Line 16) FHA HUD Appraised Value Disclosure VA Addendum (Sponsor section - Line 16) VA Verification of Benefit (VA 26-8937) Uniform Loan Submission Sheet Request For Appraisal Borrower Authorization Form Borrower Certification & Authorization Form CA Impound Statement California Real Estate Agency Disclosure Statement of Credit Denial, Termination, or Change Equal Credit Opportunity Act Federal Truth-In-Lending Disclosure Statement (TIL) FHA Addendum (Lender section - Line 15) Flood Hazard Notice Georgia Disclosure Good Faith Estimate (GFE) Lock-in Confirmation Mortgage Brokerage Business Contract (Florida Only) Mortgage Loan Commitment Mortgage Loan Origination Agreement Privacy Policy Disclosure Right to Receive Copy of Appraisal Report Servicing Disclosure Statement Statement of Appraised Value (HUD-92800.5B) Texas Mortgage Broker/Loan Officer Disclosure Texas Disclosure of Multiple Roles Uniform Loan Submission Sheet 1003 (Interviewer section) 1 VA Addendum (Lender section - Line 15) Request For Insurance Request For Title Commitment Request For Appraisal Request For Insurance Request For Title Commitment Verification of Deposit (VOD) Verification of Employment (VOE) Verification of Loan (VOL) Verification of Land Contract Verification of Mortgage (VOM) 25

Verification of Rent (VOR) Seller Selling Agent Title Underwriter 6. Table 9. Request For Title Commitment Survey Request Request for Appraisal Request For Title Commitment Survey Request Uniform Loan Submission FHA DE Analysis of Appraisal (HUD-54114) Statement of Appraised Value (HUD-92800.5B) 26

Note: The creator of the loan file will be added to the Official Contact List based on their Role Assignment setup. If the creator had the Loan Officer, Loan Processor, and Manager roles, they would be listed under the Official Contact List with those contact types. You may remove or edit these listings as necessary. Contact Type Appraiser ECOA Homeowner Insurance Escrow Lender Listing Agent Loan Officer 1 Only applicable when using the Populate from Official Contact option. Mortgagee Processor Forms Affected FHA Request For Insurance Endorsement (HUD-54111) FHA Analysis Appraisal Report Equal Opportunity Act Request for Insurance Request For Appraisal Uniform Loan Submission Sheet California Mortgage Loan Disclosure Statement (CA MLDS) Certification of Loan Disbursement (VA 26-1820) FHA Addendum (Sponsor section - Line 16) FHA HUD Appraised Value Disclosure VA Addendum (Sponsor section - Line 16) VA Verification of Benefit (VA 26-8937) Uniform Loan Submission Sheet Request For Appraisal Borrower Authorization Form Borrower Certification & Authorization Form CA Impound Statement California Real Estate Agency Disclosure Statement of Credit Denial, Termination, or Change Equal Credit Opportunity Act Federal Truth-In-Lending Disclosure Statement (TIL) FHA Addendum (Lender section - Line 15) Flood Hazard Notice Georgia Disclosure Good Faith Estimate (GFE) Lock-in Confirmation Mortgage Brokerage Business Contract (Florida Only) Mortgage Loan Commitment Mortgage Loan Origination Agreement Privacy Policy Disclosure Right to Receive Copy of Appraisal Report Servicing Disclosure Statement Statement of Appraised Value (HUD-92800.5B) Texas Mortgage Broker/Loan Officer Disclosure Texas Disclosure of Multiple Roles Uniform Loan Submission Sheet 1003 (Interviewer section) 1 VA Addendum (Lender section - Line 15) Request For Insurance Request For Title Commitment Request For Appraisal Request For Insurance Request For Title Commitment 27

Seller Selling Agent Title Underwriter Verification of Deposit (VOD) Verification of Employment (VOE) Verification of Loan (VOL) Verification of Land Contract Verification of Mortgage (VOM) Verification of Rent (VOR) Request For Title Commitment Survey Request Request for Appraisal Request For Title Commitment Survey Request Uniform Loan Submission FHA DE Analysis of Appraisal (HUD-54114) Statement of Appraised Value (HUD-92800.5B) Table 9: Forms affected by Official Contacts 7. Save the new contact to the Official Contact List (see Figure 30). a. Click Save. b. Click Save and Add other to create a new official contact. 8. Click Back to agents list to return to the Agents screen. 9. The new contact should now appear in the Official Contacts List section on the bottom of the Agents screen. 28

Printing Documents When you are ready to print your documents, click on the Print link inside the File folder of the Quick Navigation Bar. This will bring you to the Print screen. Lender s Office has over 60 documents that can be printed for your loan (see Figure 31). Figure 31: Print screen There are two ways to print forms and documents in Lender s Office. 1. Using the eprint module to print directly to your printer. 2. Saving the document as a PDF file and then printing from your PDF reader. 29

Installing eprint The eprint module allows you to select multiple documents and send them directly to a local printer. In order to use eprint, it must be installed onto your computer. To install the eprint module onto your computer: 1. From the Pipeline screen, click on the Download link under the Your Settings section (see Figure 32). Figure 32: Download link 2. The Software Download Page will appear. On the eprint Control section, click on the Click here to install eprint link. Figure 33: Software Download Page 3. Click Run to begin the eprint installation. (see Figure 34). 30

Figure 34: File Download window 4. If the Internet Explorer issues a Security Warning dialog box, click Run to continue installation (see Figure 35). Figure 35: Security Warning window 5. Follow the directions on the eprint installation screens (see Figure 36). Figure 36: eprint installation screens 31

Printing with eprint 1. From the Print screen, select the check box next to each document you want to print (see Figure 37). Figure 37: Select documents to print 2. Click Print Selected Forms to print the documents (see Figure 37). 3. Select your printer from the Printer list (see Figure 38). 4. Select the paper size from the Paper Size list. You can choose from AUTOMATIC, LEGAL, and LETTER. Choose AUTOMATIC to have Lender s Office automatically select the correct paper size for each document (see Figure 38). 5. Enter the number of copies you want to print in the Number of Copies box. 6. Click Print to send the documents to the printer (see Figure 38). Figure 38: Select printer, paper size, and number of copies 32

Saving and Printing Documents as PDF Files An alternative to immediately printing documents is to save them as PDF files for review and printing at a later time. Here are some other benefits to saving your documents as PDF files: Review PDF files for correctness before printing. Email the PDF files to other employees who do not have access to Lender s Office. It is highly recommended that you do not email sensitive documents. Protect your PDF files with a password. Requiring a password to access the file is a good way to add another layer of security for your sensitive information. Here is the procedure to save your documents as a PDF file: 1. On the Print screen, select the check box next to each document you want to print. 2. If you would like to password protect your PDF files, select the check box next to the lock icon and enter your desired password (see Figure 39). Figure 39: Save documents as PDF files 3. Click Preview Selected Forms to Print or Email (see Figure 39). 4. The File Download window will appear (see Figure 40). Click Open to open the PDF for review. Click Save to save the file to your computer. Figure 40: Open or save the PDF file 5. The PDF file can be printed through the print menu on your PDF reader program. 33

Managing Multiple Loan Files Once loans have been created, it is important for you to be able to share information and properly manage your employees pipelines. You have already learned how to change a loan s status and how to assign loans to different employees in the General Tracking and Agents sections. Those methods allow you to modify a single loan file. In this section, we will learn how to change the loan status and assign individuals to multiple loan files quickly and easily from the Pipeline and Advanced Searched screens. Managing Loans from the Pipeline 1. From the Pipeline screen, select the check box next to each of the files you want to manage (see Figure 41). Figure 41: Select loan files in your Pipeline 2. Click Assign & Change Status (see Figure 42). Figure 42: Click on the Assign & Change Status button 34

3. A new window will appear where you can modify the loan status, branch, and employees assigned to the file. If you do not want to modify certain settings on the loan file, select the Unchanged option for the setting. In Figure 43, we have modified the following: a. Transferred the loan files to the Orange County Branch. b. Assigned Bill Broker as the Loan Officer of the loan files. c. Assigned Pablo Processor as the Loan Processor of the loan files. d. All other settings were unchanged. 4. Click OK. Figure 43: Change the loan status, branch, and employee assignments 35

Managing Loans from Advanced Search Advanced Search has an identical feature that allows you to perform the same batch changes to loan files that are not located inside your Pipeline. 1. From the Pipeline screen, click on the Advanced Search link in the Search section located on the right side of the screen (see Figure 44). Figure 44: Advanced Search link 2. Specify your loan file criteria and click Find using search parameters to run a search. In Figure 45 below, the search will return loan files that meet all of the following: a. Belong to the Orange County Branch. b. Are currently in the Loan Submitted status or have been Loan Submitted status at some point in the previous 3 months. c. Have Pablo Processor assigned as the Processor. d. Have Bill Broker assigned as the Loan Officer. Figure 45: Advanced Search screen 36

3. After the search results are displayed, select the check box next to each file you wish to manage (see Figure 46). Figure 46: Advanced Search results section 4. Click on Assign & change status. 5. A new window will appear where you can modify the loan status, branch, and employees assigned to the file. If you do not want to modify certain settings on the loan file, select the Unchanged option for the setting (see Figure 43). 6. Click OK. 37

Working with Lead Files Lender s Office contains features that are specific for lead generators, whether they are call center agents (telemarketers), junior loan officers, or loan officers that prefer to separate prospects from borrowers. All leads are stored in the Your Leads folder on the Pipeline screen. Creating Lead Files Only two roles have access to create lead files, the Manager and Call Center Agent roles. 1. From the Pipeline screen, click on the Create Lead link under the Leads section. Figure 47: Create Lead Link 2. The Lead Generation interface will appear (see Figure 48). Also known as a short form application, the lead interface requires minimal information on a borrower. Fill out whatever information you need. Figure 48: New Lead File 38

3. The Quick Navigation Bar for the Lead Generation interface contains links to the following functions: a. Close File: Save and close lead file. b. Create New Task: Create a task for the lead. For more information about tasks, see Chapter 6, Tasks. c. Task List: Display list of currently active tasks. d. Lead Info: Display lead information screen (see Figure 48). e. Run LPE: Process lead through Loan Pricing Engine. This option can be disabled in your company settings. For more information, see General Settings in Chapter 2, Getting Started. f. Liabilities: Display credit liabilities. For more information about liabilities, see Liabilities. g. Order Credit: Order a credit report and automatically imports liabilities. For more information about ordering credit reports, see Ordering Credit Reports. h. View Credit: View and print credit reports. i. Assignment & Status: Transfer lead to another employee and change the status of the lead. For more information about lead status and assignments, see the following sections. Changing the Lead Status Just like loan files, you can change the status of a lead file very easily. 1. Click on the Assignment & Status link inside the Lead Management folder of the Quick Navigation Bar (see Figure 49). Figure 49: Lead Assignment & Status screen 39

2. Click on Change Status (see Figure 49). 3. A new window will appear. Choose one of the four lead statuses (see Figure 50). Figure 50: Choose a lead status Assigning a Lead File Just like loan files, you can assign different employees to your lead files. These assignments would carry over whenever the lead is converted to a loan file. Some assignments are automatically created according to the relationships setting in the lead creator s account. To assign a lead file: 1. Click on the Assignment & Status link inside the Lead Management folder of the Quick Navigation Bar (see Figure 49). 2. Click on the assign link next to the role you want to assign. 3. A selection window will appear. Choose the desired employee account by clicking on their name. If you want to remove an assignment, click on Clear Assignment in the selection window. 4. The name of the newly assigned employee should now appear in the Lead Assignment screen. Converting a Lead File to a Loan File After a lead has been generated, you can convert it to a loan file. During this process, you may apply a loan template as well as auto-create a new loan number. 1. Click on the Assignment & Status link inside the Lead Management folder of the Quick Navigation Bar (see Figure 49). 2. Click on Convert to loan file >>> (see Figure 49). 40

3. There are two ways to convert the lead to a loan (see Figure 51). a. Convert to loan: Select this option if you do not want to use an existing loan template. b. Convert to loan using template: Select this option if you want to use a template. Then choose a template from the list. Figure 51: Convert a lead to a loan 4. Select a loan numbering option (see Figure 51). a. Remove Lead prefix from loan number: Select this option to keep the current loan number without the Lead prefix. b. Auto-create new loan number: Select this option to create a new loan number using the company s Loan Naming Scheme. For more information about the loan naming scheme, see Loan Naming Scheme in Chapter 2, Getting Started. 5. Click Convert. The new loan file should now appear in the Pipeline of the employees assigned to the file. 41

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