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BUSINESS PARTNER P & P HANDBOOK
BUSINESS PARTNER P & P HANDBOOK
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Contents Introduction .................................................................................................................................................. 4
Context ...................................................................................................................................................... 4
Purpose ..................................................................................................................................................... 4
Scope ......................................................................................................................................................... 4
Doing Business with Mortgage Solutions Financial ...................................................................................... 5
Broker Approval Process Flow .................................................................................................................. 5
Correspondent Approval Process Flow ..................................................................................................... 5
Quality Control Process ............................................................................................................................. 5
New Brokers .......................................................................................................................................... 5
Lock Policy ..................................................................................................................................................... 6
Loan Upload/Registration ......................................................................................................................... 6
Locks Request ........................................................................................................................................... 6
Lock Desk .................................................................................................................................................. 6
Lock Confirmations ................................................................................................................................... 6
Byte ............................................................................................................................................................... 7
Broker Portal ................................................................................................................................................. 7
Login Page ................................................................................................................................................. 7
Main Page ................................................................................................................................................. 8
Pipeline Views ....................................................................................................................................... 8
New File................................................................................................................................................. 8
Creating a New File ....................................................................................................................................... 8
Import 3.2 ................................................................................................................................................. 8
Manual Entry ........................................................................................................................................... 10
Pipeline ....................................................................................................................................................... 11
Standard Pipeline View ........................................................................................................................... 11
Lead / Application not Submitted .............................................................. Error! Bookmark not defined.
Active Loan Pipeline View ....................................................................................................................... 11
Locks Expiring W/In 3-days ..................................................................................................................... 12
Corr. Note Received ................................................................................................................................ 12
Corr. Note Purchased .............................................................................................................................. 12
Home Screen ........................................................................................................................................... 12
Status .................................................................................................................................................. 13
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Borrowers ............................................................................................................................................ 13
Roles .................................................................................................................................................... 14
Subject Property Information ............................................................................................................. 15
Loan Info ............................................................................................................................................. 15
Subordinate Financing ........................................................................................................................ 16
Status Screen........................................................................................................................................... 16
Disclosure History ............................................................................................................................... 16
Conditions Screen ................................................................................................................................... 17
Application Screens ................................................................................................................................. 17
1003 Page 1 ......................................................................................................................................... 18
1003 Page 2 ......................................................................................................................................... 21
1003 Page 3 ......................................................................................................................................... 25
Stored Documents Screen ...................................................................................................................... 27
Pricing and Lock Screen .............................................................................................................................. 28
Price/Lock a Loan .................................................................................................................................... 28
Locking a Loan ..................................................................................................................................... 29
“Profile” Change Requests/Lock Extensions ....................................................................................... 31
Change History .................................................................................................................................... 34
Cancel a Lock ....................................................................................................................................... 34
“What If” – Pricing Scenario .................................................................................................................... 34
Lock History Screen ................................................................................................................................. 36
Credit Screen ............................................................................................................................................... 36
Obtaining New Credit (Kroll Factual Data Only for New Credit– For credit reissue see Desktop
Underwriter) ........................................................................................................................................... 37
Linking Existing Credit ............................................................................................................................. 38
Feedback Certificate ................................................................................................................................... 39
Desktop Underwriter Screen .................................................................................................................. 39
Loan Prospect Screen .............................................................................................................................. 41
DO Sponsorship ....................................................................................................................................... 44
LP Sponsorship ........................................................................................................................................ 47
VA Sponsorship and Appraisal Ordering ................................................................................................. 48
VA Sponsorship: New User ................................................................................................................. 48
VA Sponsorship: Existing User ............................................................................................................ 49
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Appraisal Ordering .............................................................................................................................. 50
GUS Sponsorship ..................................................................................................................................... 51
Running GUS ....................................................................................................................................... 51
TRID ............................................................................................................................................................. 53
Loan Estimate Overview ............................................................................................................................. 53
Loan Estimate Page 1 .............................................................................................................................. 53
Loan Details ......................................................................................................................................... 53
Loan Estimate Page 2 .............................................................................................................................. 54
Loan Costs. Section A .......................................................................................................................... 54
Loan Costs. Section B .......................................................................................................................... 54
Loan Costs. Section C .......................................................................................................................... 55
Other Costs: Section E ......................................................................................................................... 55
Other Costs: Sections F & G ................................................................................................................ 55
Other Costs: Section H ........................................................................................................................ 55
Other Costs: Section J ......................................................................................................................... 56
Loan Estimate Page 3 .............................................................................................................................. 56
Other Considerations .......................................................................................................................... 56
Closing Disclosure ....................................................................................................................................... 56
TRID and the Closing Process: ..................................................................................................................... 58
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Introduction Context This guide is intended to provide Business Partners of Mortgage Solutions Financial an understanding of
the organizational policies and procedures. This Manual will be updated accordingly, to remain current
with organizational changes and business processes.
Purpose This guide will help ensure consistency between our partners and our company on matters that may not
be published elsewhere. This Guide will address all sections of doing business with MSF.
Scope The Business Partner manual contains information that applies to the following channels listed below.
Wholesale lending
Correspondent lending
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Doing Business with Mortgage Solutions Financial The following section is an overview on the approval process. For more information on how to become a
Broker Partner please visit: https://mortgagesolutions.net/wholesale/become-a-partner/
Broker Approval Process Flow
Correspondent Approval Process Flow
Quality Control Process
New Brokers Newly established brokers will be subject to a Full QC Review of files submitted and approved
within our system.
Once a new broker has funded 5 loans, they may be removed from Full QC Review status. o Please note that your assigned AE is responsible requesting this change.
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Lock Policy The following guidance is to serve as starting point and in no way represents the policies and procedure
of the lock department. For Mortgage Solutions Financial’ s lock policies please see:
MSF Wholesale Lock Policy
MSF Correspondent Lock Policy
Loan Upload/Registration All loans must be uploaded to Mortgage Solutions Financial (MSF) through Byte Web Portal prior to locking the loan. Instructions on uploading to the Portal can be found below.
Locks Request All lock requests must be made through the pricing engine (Optimal Blue) through Byte Web Portal.
Lock Desk The lock desk is open Monday through Friday, excluding federal holidays from 9:00 a.m. to 6:00 p.m. MST for new lock requests and 9:00 a.m. to 4:30 p.m. MST for lock extensions and other change requests.
Lock requests, changes to existing locks, pricing and other general questions are answered during regular business hours.
Lock Confirmations Lock confirmations will be available for review within the stored documents in the Byte Web Portal immediately upon acceptance of the lock. You may also review lock history within OB pipeline. Please allow a full 24 hours to process lock requests before making a follow-up inquiry.
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Byte
Welcome to MSF Byte Loan Origination System on the web. This section of the manual will serve as a
valuable resource to help you navigate your way through byte!
Broker Portal To begin, you will need to obtain credentials. Email Client Account Setup at [email protected]. Please allow 72 hours for requests to be completed. A confirmation email containing your user name will be sent to the email on record. Within the email is a link to set your password. Follow the link and complete all information required. Additional logins for Loan Officers and/or processors can be obtained through Client Account Setup.
Login Page Once you have your log in credentials, log into the MSF Byte Web Portal page at:
https://msfbyteweb.msfhome.com/bytewebportalsite
For users with multiple security profiles, you will need to select the channel you wish to open and work
in. Security profiles include: W-Wholesale, N-Non-Delegated Correspondent, and C-Delegated
Correspondent
From the log in page, enter your credentials and select log in.
Upon validation a new screen will appear. From this screen
select a channel.
This will direct you to the pipeline for that channel only. If you wish to switch channels you must log out and back in again. Follow the steps above to open other channels within your profile to view your active pipelines.
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Main Page This page will allow you to navigate through your active pipeline and upload new files
Pipeline Views Access, View and download your loan pipeline within this section of Byte. Choose from the several different report types at the top of your screen to view statuses, locks, scheduled closings and more. Currently the report types offered are Standard, Registered Not Submitted, Active Loan Pipeline, locks expiring w/in 3-day, Corr. Note Purchased and Corr. Note Received. Each view is explained in detail below.
New File This is where you will create a new file for submission.
Creating a New File Byte has two options for creating a new file, import an existing 3.2 file or manually create a file. To create a file start by selecting “new file” on your main screen. This will redirect you to the file creation screen. Once there you will need to select your method of creation, import Fannie Mae File (3.2) or Create from scratch (Manual Entry).
Import 3.2 This is the reccommended method for creating new files within Byte. To Import a 3.2 file, select Import
Fannie Mae File, verify your orginaztion in the the drop down screen, browse for your saved file, and
finally select create new file.
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Once the file has been uploaded, navigate to the home screen and applications screens to ensure
accuracy. While most of the information will copy over from your FNMA file, it is best practice to review
for accuracy.
Please note that the MI factor and Loan program will not populate in the Byte file even if it is
input in the 3.2 file. The information for MI and Loan program are located on the home screen.
MI: From the home screen scroll down to the “Loan info” section. Here you will find the
recommended MI Premium/Annual Premium factor.
o On the right side of this section, enter the recommended premium into the
corresponding box. The value must be entered as a whole number. For MI factors that
smaller than a whole number, enter a 0. before the factor (ex. 0.45). Failure to enter
the premium in this manner will result in an error and the information will not save.
Loan Program: From the “Home” screen navigate to the Loan Information section. Select the
“Select loan Program” link under the purpose of loan section.
o Find your program and select it
After you review your application for accuracy, you can obtain new credit (Kroll Factual Data in the Credit Screen) or associate existing credit to the file (Credit reissue done in the Desktop Underwriter Screen), request pricing and lock your loan or request a “What if” scenario, run DU, and upload documentation. Detailed instructions for each function can be found in the corresponding sections.
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Manual Entry Select create from scratch (Manual Entry), verify your orginaztion in the the drop down screen,
complete the borrower information and select create new file.
Once you have completed the information and created your file, you will then need to navigate to the Home, Application (1003 page 1, page 2, and page 3) and Pricing/Lock screens and complete the information. Once your application is complete you can obtain new credit or associate existing credit to the file, request pricing and lock your loan or request a “What if” scenario, and Run DU. Detailed instructions for each function can be found in the following sections.
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**IMPORTANT** The Broker Portal does not have an auto save function, so you will need to save frequently and often. However, Byte does have a built in warning system in place to prevent you from leaving screens without saving progress. In the event you forget to save between screens, byte will notify you of unsaved changes and ask you to save before leaving that section.
There are two ways to save your progress. First you can hit the save button located on any page within the portal. Second you can keystroke save by hitting enter in any one of the editable fields.
Pipeline Standard Pipeline View The standard pipeline view will allow you to see all loans you have submitted regardless of status. Loans will continue to be visible in the portal until they are deleted from the BytePro parent system. For this reason the portal has been designed to allow you to sort your loans alphabetically by category. To sort your loans simply select the category you wish to sort by. To revert back to the previous view click pipeline. To view the details of a particular loan, select a link for that file under any of the category headers.
Pending Underwriting The Pending Underwriting pipeline view will allow you to see all loans you have created but have yet to have a status change to submitted status. All files within this pipeline view are fully editable. Like the standard view, the files can be sorted by any of the categories. Lead status indicates not all 6 pieces of loan information has been capture to require disclosure. Application status indicates all 6 pieces of information have been captured and disclosures must be sent to all borrowers by MSF inside 72 business hours. To view the details of a particular loan, select a link for that file under any of the category headers.
Active Loan Pipeline View The Active Loan pipeline view will allow you to see all active loans in your pipeline with statuses ranging from Submitted to Docs. Loans will continue to be visible in the portal until they have been moved to funded status. Like the standard view, the files can be sorted by any of the categories. Categories
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include Intent to Proceed Rec’d date, Initial CD Requested date, Initial CD Disclosed date and the Lock Expiration Date. To sort your loans simply select the category you wish to sort by. To revert back to the previous view click pipeline. To view the details of a particular loan, select a link for that file under any of the category headers.
Locks Expiring W/In 3-days The locks expiring pipeline view will allow you to see all loans with locks expiring within 3 days. This pipeline view is great for keeping track of your locks. Like the other views, the files can be sorted by any of the categories. To view the details of a particular loan, select a link for that file under any of the category headers.
Corr. Note Received The Corr. Note Received pipeline was designed for our correspondent partners to allow you to track when the original note was received by MSF. The files can be sorted by any of the categories. To view the details of a particular loan, select a link for that file under any of the category headers.
Corr. Note Purchased The Corr. Note Purchased pipeline was designed for our correspondent partners to allow you to track
when the loan file was purchased. The files can be sorted by any of the categories.
To view the details of a particular loan, select a link for that file under any of the category headers.
Home Screen This screen can be modified until the loan is received and accepted by MSF’s submissions team. It will be
the business partner’s responsibility to move the loan status to “submitted” to notify the submission
team that the file is ready for review. Once the status has changed to submitted, you will only be able to
view the loan details.
The home screen gives you a basic overview of the file. It contains a general summary of:
The Loan details
Borrower & property information
Statuses
Critical dates and
Important contact information
It is recommended that you complete this screen in its entirety. While the information located within this section can be found within other screens in the file, the information is split between multiple sections and therefore may be missed if the corresponding screen is not reviewed. Any information entered on the home screen will populate to the corresponding sections within the file and vice versa.
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Once all fields within the file have been completed and you are ready to submit the file for review you will follow these steps:
Click the change status button located in the top left corner of the home page.
A pop up will open asking you to confirm status change. To confirm select “OK” or to cancel select cancel.
If the file is successfully submitted you will be redirected to the home page. You can verify that the loan status changed by reviewing the dates on the status screen.
o It is important to note that the loan status will only change if all required elements in the loan file are complete. If there is any missing information this info will appear on the next page.
o To clear this info select cancel and return at the bottom of the page, and correct the discrepancies. Upon completion of this info you will need to re-submit to “change status”
Status Agency case number: to be completed with the FHA or VA case number
Case number assigned: complete with the date the case number was obtained
Borrowers Complete this section with your borrower’s information.
Adding a borrower: to add a borrower click the “add borrower” link under the borrower heading
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A new screen will appear. Next select the position you wish the borrower to appear in (either co-borrower or Borrower on new application).
Once the position has been selected a new borrower application will appear on the main page in the position selected. Complete all information in this section as applicable for said borrower
Deleting a borrower: to delete a borrower (other than the primary) from the loan application select the delete borrower hyperlink under the borrower heading as seen above. A new screen listing all applicants will appear. Select delete next to the borrower you wish to delete.
Once deleted, the application for said borrower will be removed from the home and application screens.
Application 1- Borrower & Co-Borrower information: o Name: For refinance loans complete the borrowers name as it appears on title, for
purchase transaction complete as it appears on the purchase agreement.
o Complete borrower’s DOB, SSN, Home and work phone numbers, email address, citizenship/residency, and self-employment status (if applicable)
Roles This section is used to view important contact information. Available contact information will include
role, name, contact number and email address.
Please Note that the LO associated with the file will reflect the information of the party whom
uploaded/created the initial file. For this reason we have built in the ability for processors to change this
information.
For processors who will be creating a file on behalf of the originating LO, please follow these
steps to ensure the LO reflected on the Byte 1003 screen is assigned properly:
o From the New loan screen: select the LO in the drop down
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o From the home screen: under the parties heading click the Loan officer hyper link
A new screen will open. Find your LO from the list and select that party
A new page will open asking you to confirm user role change. Select Change
User Role to confirm or cancel and return to cancel.
Upon confirmation the LO’s information will reflect in the Roles section of the
home screen
Subject Property Information Property TBD: to be completed if the borrower does not have a property address at the time
application is initiated
Property address: Complete the street address, city, state, zip code, county, number of units,
and property type. Complete the Assessor’s parcel number* and Assessed value* if information is available
Loan Info Complete the following fields as applicable: Occupancy purpose, purpose of refinance,
appraised value (estimated), purchase price/estimated value, base loan, PMI type, MIP percentage, Loan with MIP/FF, MIP/FF paid in cash, MI Prem./Annual Prem., Monthly MI premium(years 11-30), Escrow waiver & first time home buyer
Loan program: To select a loan program click the hyperlink under “purpose of refi” and choose from the available programs.
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Jumbo loan indicator: This field should be completed “no” on every loan unless the program is Non-Conforming
Subordinate Financing Complete this section with the details of new subordinate financing or existing subordinate financing that will stay in place
Sub. Fin. Type: Select the type of Subordinate financing. (HELOC or not HELOC)
Sub. Fin. Base loan amount: for HELOC loans complete with the amount of the draw, for non-HELOC loans complete with the loan amount
Sub. Fin. Interest rate: enter the interest rate from the 2nd lien approval or note
Sub fin. Calculate as interest only: select box as applicable
Sub. Fin. Term: complete with the existing loan terms from the 2nd lien approval or note
Sub, Fin. P&I: This information will auto generate based off the info entered in the above sections
HELOC Credit Limit: complete with the total HELOC amount per the terms of the note
Exclude the subordinate loan amount from the ‘cash from/to borrower’ indicator box: select this indicator when the subordinate financing is already in place and is being re-subordinated to the new loan.
Status Screen The status screen contains all of your important dates and history in one convent place. From this screen
you can:
Follow your loan as it moves through each stage of the process
Keep track of important expiration dates
And track disclosure history and appraisal details
Disclosure History This section is used to indicate what forms were sent, how they were sent and when the borrower
acknowledged receipt.
Form: indicates what form was disclosed to the borrower.
o Types of forms available in this list include Initial LE, Re-disclosed LE, Initial CD, Re-
disclosed CDs, and Final CDs
Delivered: The date the form was sent to the borrower
Method: How the disclosure was delivered to the borrower
o Mailed, In Person, Emailed
Received: The date the borrower acknowledged receipt of the disclosure
o Please note the initial LE will only reflect the received date if MSF prepares and
disclosures the initial LE to the borrower. It is the responsibility of the broker to ensure
acknowledgement of Initial LE when disclosed by the broker
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Conditions Screen The conditions screen is designed to allow you to review your loan approval in real time, with minimal
effort. No more searching through your emails for the most recent version of your loan approval! If you
prefer a hard copy for your records, the loan approval is also available in the stored documents for
download and review.
This screen is ideal for tracking outstanding conditions in real time as the built in fields allow you to
upload and view previously uploaded documentation for each condition, track when conditions were
received as well as when they were cleared, and keep informed about documentation required prior to
funding the loan.
Be in the know about your file anytime from anywhere. Review PTD, Suspense and PTF conditions on your file, from any device. All you need is your user name and password. To upload documents directly to conditions follow these steps:
Navigate to the condition in reference. To the right of the condition, under the documents heading, is a link to “upload” said condition. Click link
o A new page will open. In the file section, click “Browse” and locate document o In the document type, click the drop down arrow. Find document name.
As a note you can enter the first letter of the document name to navigate to the document name quicker
If document name does not exist use “02 – Conditions Submission” o Once document is selected and name is specified click upload. The document will then
be linked to the condition. Linked conditions will show as a file folder icon next to condition.
You can upload a single document or multiple documents to the same
condition. NOTE: linked conditions must be uploaded individually to ensure proper naming
scheme. (Ex. Multiple types of assets- upload each group of documents individually under proper document name. IE bank statements, retirement accounts, proof retirement account has been liquefied)
o To review previously uploaded documents linked to condition, click the file folder icon
Application Screens The application screens are designed to follow the format of a 1003 application and are named accordingly. The flow is split up into 3 pages, therefore allowing easy review of the application without being too busy. Each section is broken down as follows: Page 1 of the 1003 includes sections I trough IV, Page 2 includes section V and VI and page 3 sections VI through X.
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Each page of the application contains required and optional fields. Required fields must be completed in their entirety or the application may be rejected upon submission. While optional fields may be left blank, please note that leaving these fields blank may result in delays while processing your application. It is therefore recommended that all fields be completed to the best of your knowledge to expedite your
review. Optional fields are notated with a *
1003 Page 1 The indictor boxes above section I. should be completed in a manner that best represents the file.
For files involving a Co-Borrower, the Co-borrower information must be provided (and the appropriate box checked) when the income or assets of a person other than the Borrower (including the Borrower’s spouse) will be used as a basis for loan qualification.
For properties located within community property states, where the income or assets of the Borrower’s spouse or other person who has community property rights will not be used as a basis for loan qualification, but his or her liabilities must be considered because Borrower resides in a community property state, the security property is located in a community property state, or the Borrower is relying on other property located in a community property state as a basis for repayment of the loan.
Section I Type of Mortgage and Terms of Loan Complete all data as applicable:
Mortgage type, Agency case number (if applicable), Case number assignment date (if
applicable)*, MSF Lender case number (MSF loan number)*, and the Loan terms. o Mortgage type, term and amortization will pre-populate based of the loan program
selected in the loan info section of the Home and Pricing screens. Verify the information’s accuracy and update as applicable.
o The Lender case number is automatically generated upon loan creation and will pre-populate into the loan file if a loan number was not entered into the 3.2 file upon creation. If a loan number was entered in to the 3.2, simply delete the incorrect information out of byte, and copy the loan number information into the appropriate section of the application.
This information should be entered for purposes of linking file number to the AUS.
The loan terms include: Base loan amount, Loan amount including MIP/FF, Interest rate, Term and Amortization type
o Loan amount including MIP/FF will pre-populate according to the information entered in to the MI Prem. /Annual Prem. Percentage entered on the Home screen.
Section II. Property Information and Purpose of Loan Complete all data as applicable:
Property information: Street address, City, State, Zip code and County, Number of units, Legal
description (if known) *, Year built*, Purpose of loan, and Occupancy
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o **or** if the borrower has yet to find a property select “TBD” and complete purpose of loan and occupancy
o For construction to perm loans complete the section under the corresponding heading
o For Refinance loans complete the section under the corresponding heading
Title information: Manner in which title will be held (if known)* and Estate held in (fee simple or
leasehold)
o To Omit Borrowers from title select the omit inducator for said borrower under the Title
information header
o To add non-borrowing parties on title (including POAs) select the “add a new non-
borrower on title” link and complete the information on the following page.
To save changes hit “save” at the bottom of the page *or* to cancel hit “cancel
and return”
o Manner in which title will be held is not a mandatory field to complete at time of
submission and may be left blank if not sure how borrower wishes to take title. If it is
known how the borrower wishes to be vested, complete this portion of the application
by manually entering the data into the field. Below is a list of most commonly used
vesting options available for reference:
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For refinance loans copy what is on title
For purchase loans:
Joint Tenancy
Single
Tenancy in Common
Tenants by the Entirety
Tenants in Severalty
Down payment source and amount
o To be completed on Purchase Transactions and Refinance Transactions with gift funds
From the drop down screen select the source and enter the amount of down
payment
For loans with Gift funds complete this section with the gift fund source type
that best represents the gift transaction
Section III. Borrower Information Complete all data as applicable:
Borrower information: Name (as it will appear on title), SSN, Phone number, DOB, Years of
school*, Marital Status, No. of dependents, and Ages of dependents o Enter the Borrower’s DOB in the following format MM/DD/YYYY or select from the
calendar by hitting the calander tab, selecting the month and year from the drop downs and selecting the day on the calander
o Number of dependants and Age of dependant(s) is only a manditory field on VA loans
Current residence: Status, Length of time at residence, Street address, City, State and Zip code.
Mailing address (if different then present address): Street, City, State, Zip, and Country
Former residences: Complete address, Status and Length of time at address. o To add a new residence select the “Add a new residence” link under former residences
heading
o **Please note that MSF requires a minimum of 2 years residency history for all loan programs. If the borrower has not resided at the current residence for a minimum of 2 years, the former residence section must be completed.
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Section IV. Employment Information Complete all data as applicable:
Current employer: Self-employed indicator box, Years on job, Years in profession, Employer
name, HR Contact*, Employer full address, Position, Type of business*, Business phone number,
and Fax number* (if applicable)
Former employers: Name of employer, HR contact*, Address, Current employer indicator box,
Dates of employment, Monthly income, Position, Type of business*, and Business phone
number
o To add a former employer select the “Add a new employer” link under Former employers
o A new screen will open. Complete the information and hit “save” or if you do not wish to save changes hit “cancel and return” located at the bottom of this form. Note the dates of employment format must be entered as MM/DD/YYYY or can be selected from a calendar by selecting the … boxes and following the same process as indicated in the DOB section of this manual.
**Please note that MSF requires a minimum of 2 years employment history for all loan programs. If the borrower has not been employed with the same employer for a minimum of 2 years, the former employment should be completed.
1003 Page 2
Section V. Combined Housing Expenses Information Complete all data as applicable:
Present Housing Expenses:
o Borrower Rents- Enter the total amount of rent paid in this section.
o Borrower Owns-
Loan Escrowed: Enter the total amount of mortgage payment including escrows
from the mortgage statement into first mortgage
Loan not escrowed:
Enter the total monthly amount of P&I from the mortgage statement or
credit report in first mortgage section
Enter the monthly real estate taxes from the tax cert in real estate taxes
or estimated amount from 1003 if no tax cert has been ordered at time
of submission
Enter the monthly hazard insurance premium from the hazard policy
into the hazard insurance section or estimated amount from 1003 if no
hazard declaration has been obtained at time of submission
Enter the existing monthly mortgage insurance payment into the
mortgage insurance section (if applicable)
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Enter the monthly amount of HOA dues borrower pays on current
residence (if applicable)
Enter other monthly premiums paid by the borrower for the subject
property in the other/Misc. section. These other fees include but are
not limited to: Flood insurance, Earthquake insurance, Private road
maintenance fees, Shared well maintenance fees, etc. (if applicable)
Other Fin. (P&I): if there is a 2nd mortgage enter the total amount of the
payment from the Mortgage statement or credit report
Proposed Housing Expenses:
o P&I: will auto populate based off the loan amount and interest rate entered into the system
o Other Fin (P&I): for re-subordinated 2nd mortgages will auto populate based off the info entered in the subordinate financing section from the home page
o Hazard Ins: Enter the monthly hazard insurance premium from the hazard policy or estimated amount if declaration is not available at time of submission
o Real Estate Tx: Enter the monthly real estate taxes from the tax cert or estimated amount if tax cert is not available at time of submission
o Mtg. Insurance: Enter the proposed mortgage insurance payment (if applicable)
o H.O.A. Dues: Enter the total amount of HOA dues from the purchase contract, Appraisal, HOA cert, condo documentation, or estimated amount from 1003 if no HOA documentation is available at time of submission (if applicable)
o Other (flood): If the subject property is located in a flood zone enter the monthly flood premium from the flood insurance or estimated amount if flood insurance documentation is not available at the time of application
o Other (line 1003 and line 1007): Enter other monthly premiums paid by the borrower
for the subject property. These other fees include but are not limited to: Additional tax
bills, Earthquake insurance, etc.
Section V. Monthly Income Complete all data as applicable:
To enter a new income source select the “add a new income source” link under the Income source heading.
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o A new screen will open. Select the borrower, type of income, and enter the amount of income in the corresponding sections. If the income is derived from self-employed sources, select the “self-employment income” indicator box.
o To save and go back to the previous screen select “save” or to cancel and return select “Cancel and return”
o To edit income previously entered, select the income type listed under the description heading and follow the steps above for entering new income.
o To delete an income source select the next to the income source. A new screen will open asking you to confirm deletion. To delete select “delete” to cancel select “Cancel”
Section VI. Assets Complete all data as applicable:
Statements completed: If the borrower holds an account jointly with another party, whether they be on the application or not, select jointly. If borrower holds account by self, select Not jointly
Cash Deposit Towards Purchase: o Include cash deposit towards purchase in net worth indicator should be completed if the
deposited funds used towards closing have been verified as coming from an acceptable source.
o App deposit Held by, App deposit amount (if applicable) to be completed when the borrower puts money down on an application that is held by the broker
o Earnest money held by, Earnest money amount (if applicable): Enter the total amount of EMD in this section along with the party whom is holding the deposit.
Checking and Savings accounts: o To add a new asset select “add new asset” link under checking and savings heading.
A new screen will open. Select the borrower, enter the name of the depository
institution, attn.*, Street,*City*, State*, Zip* and Fax* number of the depository institution
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Under Account information headers, select the type of account, account number and available balance.
To save and go back to the previous screen select “save” or to cancel and return
select “Cancel and return” o To edit assets previously entered, select the account type listed under the name
heading and follow the steps above for entering new income.
o To delete an income source select the next to the income source. A new screen will open asking you to confirm deletion. To delete select “delete” to cancel select “Cancel”
Section VI. Credit Aliases Complete all data as applicable:
Credit Aliases are the borrowers AKAs. This section is to be completed with any other names your borrower(s) has used to obtain credit. This information can be located on the credit report (if applicable)
Section VI. Liabilities Complete all data as applicable:
Net REO Payments – This information will pre-populate based off the Mortgage liabilities entered into the liability section
Liabilities o To add a new Liability select “add a new liability” link under liabilities heading. A new
screen will open. Enter the following information as applicable: Select the borrower, Account type, Enter the name of the issuing institution as
shown on the credit report, Account number, Monthly payment, payments left (for installment debts), and unpaid balance.
Indicator boxes:
Not counted: This field will auto populate when a mortgage liability, including a HELOC, is entered.
o The following fields will open when a Mortgage liability is entered: Property and Lien position. Complete these fields to tie the liability to the correct property
To be paid off: If a liability is to be paid off with the proceeds from the loan mark this indicator
Omitted: Mark this indicator for any accounts to be excluded including: Authorized User accounts, liabilities paid off at or prior to close (not with transaction proceeds), Co-signed liabilities, Collection accounts, 30 day accounts, Property taxes for other properties, etc.
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Resubordinated: Mark this indicator box if the borrower intends to resubordinate their existing 2nd
Attn.*, Street,*City*, State*, Zip*, and Fax number* To save and go back to the previous screen select “save” or to cancel and return
select “Cancel and return” o To edit liabilities previously entered, select the liability listed under the name heading
and follow the steps above for entering new liabilities.
o To delete a liability select the next to said liability. A new screen will open asking you to confirm deletion. To delete select “delete” to cancel select “Cancel”
Alimony/Child Support/Separation Maintenance o Complete this section as follows:
For Child support obligations only, Complete the Owed to section and amount of liability and select “Child Support” from the drop down
For Child support and Alimony, Complete the Owed to section and amount of liability and select “Alimony” from the drop down
Job Related Expenses o For VA loans: enter “child care expenses” as the description and enter the monthly
amount
1003 Page 3
Section VI. REO Complete all data as applicable:
To add a new REO property select “add a new REO” link under REO heading. A new screen will open.
o General: Select the borrower, indicate if the REO is the subject property and/or current residence, Enter the street address, City, State, Zip code, Status, Type of property, and Enter the estimated market Value.
o PITI: T&I included in mtg. indicator box to be completed if mtg. is escrowed, If mtg. is not escrowed enter the total monthly payment of the Taxes and Insurance in the “taxes and Insurance” section
4/23/2020 ~ 26 ~
To edit a property previously entered, select the property listed under the address heading and follow the steps above for entering new REO properties.
To delete a property select the next to the property. A new screen will open asking you to confirm deletion. To delete select “delete” to cancel select “Cancel”
Section VII. Details of Transaction Complete all data as applicable:
Section A, B, & C: All of these fields are fully editable. o Section A will pre-populate based off the information entered on previous screens.
o Sections B and C will not transfer from other sections and therefore must be manually entered.
Sections D-I: None of these fields are editable in this section of the application. o Sections D-I will pre-populate based off information entered in previous sections.
Sections J & K: Section J is editable. o Both Sections J & K will pre-populate based of information entered in previous sections.
o To exclude Subordinate financing from the cash to close, select the “excluded from D.O.T” indicator box to the right of section J. Section
Section L: The credits section is fully editable. o Earnest Money will prepopulate based off the information previously entered in the
application
o Enter additional credits into the sections below Earnest money. Select the type of credit from the drop down and enter the total amount of credit. For multiple credits by the same party sum the total and enter the amount in the corresponding section.
Sections M-P: The only editable field in this section is M. Confirm that the information is correct and verify the information in sections N-P
Section VIII. Declarations Complete all data as applicable:
Complete the declarations for each borrower as applicable by selecting yes or no from the answer drop downs. All answers must be completed.
o Exception- If question M is “no”, leave question M1 and M2 blank
Section IX. Acknowledgment and Agreement Complete all data as applicable:
Date 1003 signed: Once you have a valid application complete this date with the date the LO signed the application. Format must be entered as MM/DD/YYYY or can be selected from a calendar by selecting the … boxes. Select the month and year from the calander drop downs and select the day on the calander
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Section X. Information for Government Monitoring Purposes Complete all data as applicable:
Government Monitoring information: All information must be completed at the time of application
o If the application is taken face to face, the Lo must enter answers based off observation even if the borrower does not wish to answer
o For all other methods of application, complete all information as applicable
Additional comments: o If credits are marked as “other” please indicate in this section what they are for.
o If you have additional comments to share with our UW, please enter them in this section
Stored Documents Screen This section is used to view and upload documentation to your file.
Note: The Minimum resolution for documentation upload is 300x300 DPI and the Maximum File
size is 60MB. If documentation with a lesser resolution or larger file size is submitted you will
receive the following error:
In order to move your loan to the next stage you must upload your initial submission or wholesale
disclosure request documents to the file. Upload individual documents by selecting the document name
from the pick list or bundle and upload multiple documents at a time.
Upload documents: To upload a document select the file browse button and locate the file on your desktop. Next select the document name.
o For disclosure requests use 00 – Wholesale LE Disclosures o For initial submission packages use 01- Initial Submission Package o For initial Income/Asset documentation use 08 – Submission Income
o For bundled conditions select 02- Condition Submission See conditions section of this manual to learn how to link documents to
individual conditions
o Non-delegated Correspondent purchase review select 03-Non-Delegated Corr Closing Package
o For Delegated correspondent loans select 04-Delegated Corr Credit and Closing Package
o For Delegated suspense conditions select 05-Delegated Corr Suspense Package
o For Non-Delegated suspense conditions select 06-Non-Delegated Corr Suspense Conditions
o For Non-Delegated PC suspense conditions select 07-Non-Delegated PC Suspense Conditions
4/23/2020 ~ 28 ~
To view documents previously uploaded, select the link or right click on the link and select open
in new tab
o If you select the link this will open a PDF in the same browser tab. In order to get back to
the loan you must hit the back button on the web browser.
o To open a new web browser with your PDF document, right click the document link and
select “open in a new tab”. By viewing the document in a new tab you will be able to
navigate back and forth to your file and documents by selecting the Brower tabs. To
close the document tab simply hit the “x” in the browser.
Pricing and Lock Screen This section is used to request pricing and locks or run what if scenarios on your loan file.
Price/Lock a Loan To lock the loan select the price/lock button at the top of this screen
o Before you can lock the loan all information must be completed. If any information is
incomplete the system will produce an error message notifying you of what information
is missing.
Borrower: Information will pre-populate from previous screens. Verify
information
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Subject Property Info: Information will pre-populate from previous screens.
Verify information
Other Info: Complete the information in the Other info section as applicable:
Estimated credit score: use the lowest Mid FICO for all borrowers, use
“0” for no-score Streamlines, IRRRLs, and Non-traditional credit
Non-occupying co-borrower: select as applicable
LO Compensation: choose lender or borrower paid
Corporate relocation loan: select as applicable
Underwriting Method: Select from the following options
o Manual: Refer, Non-traditional, Streamline and IRRRL loans
o DU: FHA, Conforming, VA, Non-Conforming
o LP: All Freddie products, FHA and VA
Documentation: MSF offers Full and Streamlined documentation
options
o Full: no other info is required
o Streamlined: Complete Asset type, Income Doc Type &
Employment Doc Type as “none”
Loan Info: Information will pre-populate from previous screens; however there
are a few extra pieces of information that may need to be completed.
Jumbo: This will auto populate based on the loan program selected,
Please review for accuracy
Bi-Weekly Loan: select as applicable
Subordinate Financing: Information will pre-populate from previous screens.
Verify information for accuracy
Locking a Loan Select Lock Loan. This will bring you to the pricing engine page. Verify your information
o If any information is missing prior to submission a notification will pop up indicating
which fields are required to move forward
Please set web browser to allow pop ups for this site.
o Once all info is reviewed/entered hit the submit button. A new screen will open with
your eligible products
No eligible products- this occurs when there are disqualifying perimeters in your
loan file. To determine what factors must be resolved prior to moving forward
follow the following steps:
Under Ineligible product select the loan program you wish to review. A
drop down will open up underneath the loan program with the
information needing corrected to make the product eligible.
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To navigate back to the loan file and correct, select the magnifying glass
symbol in the top right portion of your file information.
Once info has been corrected, select submit and follow steps below. If
error persists repeat above until all disqualifiers have been resolved
o To compare pricing options select the compare checkbox next to each option and select
the blended comparison tab.
Select your product link. A new page will populate with the available rates and
pricing information. From here “Select” your option
Once you have selected your option you can Print, Save to LOS or request
lock/save
o To lock loan hit request lock/save to LOS. A notification will pop up asking you to
complete loan in LOS system. Hit OK. You will then be redirected back to your file. A
confirmation message will appear at the top of the lock screen to notify you that the
lock was requested. Additionally the Price/Lock button will no longer be visible on the
lock screen until the lock is accepted.
o To modify any information prior to locking select the magnifying glass symbol in the top
right portion of your file information. This will navigate you back to the OB file to make
said changes. Follow the steps above to complete lock request once all changes have
been made
o To save to the OB pipeline select “save to OB Pipeline tab”. This will allow you to save
your file to review later.
To access your saved loan select the pipeline tab located in the top right corner
of the OB screen.
4/23/2020 ~ 31 ~
Please Note that access to OB is set at an organizational level, therefore all
loans saved within the piplene will be viewable to the enitre organization.
To search for specific saved loans, within the saved pipeline, use the
filter tools for quick search
To send an email to the locks department regarding your loan, from the OB main page navigate
to the change request page. The link is located at the top right portion of your file information.
o From this page scroll down to Loan notes. Under Loan notes there is a section to enter
notes. Enter your note and select Email secondary. Then select Add note.
o A copy of the note will be visible in the lock history located under the loan note board
within the loan notes section.
Responses from our locks department will also be viewable within the note
board.
“Profile” Change Requests/Lock Extensions Change requests can be made to locked and unlocked loans (after submitted) by selecting the Price/Lock button.
Not locked o Select the Price/Lock button
o This will bring you to the pricing engine page. Update any information within OB and
select submit. Loan amount, rate, terms, etc.
o A new page will open, from here select your product link. From here you can view the
available rates and pricing information.
Click the lock icon to “Select” your option
A new page will open, all of the info will be greyed out. In the top middle of you
page select “save to LOS”.
A confirmation message will appear notifying you that changes were
successfully written to your byte file. Click close and you will be redirected back
to your file within the byte system.
4/23/2020 ~ 32 ~
Locked o Select the Price/Lock button
o This will bring you to the pricing engine page. Information will be locked down once the loan is locked or submitted, so no changes can be made to the loan information at this point.
o Next navigate to the change request page, located at the top right portion of your OB
file information.
o Under the Submit change request heading, indicate the type of change requested.
Lock Extensions: Select lock extension under #1, enter the number of days
desired under #3, and select
submit request under #5
A message will pop up asking you to proceed. Click OK
A new page with a summary of changes will open.
Old info will be on the left with a line through it and new info on the
right in red. Review the info for accuracy.
To accept changes hit the submit button at the bottom of the page
“Profile” Change request: Select
Profile change under #1 and click profile
change under #3.
This will open the loan information back up in the main page. From here
make your desired changes. Changes include but are not limited to:
o Loan amount, interest rate, loan type and terms.
4/23/2020 ~ 33 ~
When updates are complete hit submit button.
Upon hitting the submit button, your eligible products will populate. To
compare pricing options select the compare checkbox next to each
option and select the blended comparison tab.
Select your product. A new page will populate with the available rates
and pricing information.
From here “Select” your option.
A new page with a summary of changes will open.
o Old info will be on the left with a line through it and new info on
the right in red. Review the info for accuracy.
o To accept changes hit the submit button at the bottom of the
page
**IMPORTANT*** For loan amount changes, the amount entered will vary depending on program.
FHA loans: enter the Base loan amount
Conforming, USDA and VA loans: enter Note loan amount
4/23/2020 ~ 34 ~
Change History Change history can be viewed within the OB pipeline by selecting Price/Lock button. This will
bring you to the pricing engine page. o Navigate to the change request page, located at the top right portion of your file
information.
Cancel a Lock Lock cancellations must be requested via email. To request a lock cancelation, select Price/lock
button within pricing and lock page. From the OB main page select the “change request” icon, located at the top right portion of your OB file information.
Navigate to the loan notes section located at the bottom of the change request page.
o Under Loan notes there is a section to enter notes. Enter your note and select Email
secondary. Then select Add note.
o A copy of the note will be visible in the lock history located under the loan note board
within the loan notes section.
Responses from our locks department will also be viewable within the note
board.
“What If” – Pricing Scenario From this screen you are able to produce a pricing scenario. In order to use the “what if”
function you must register a loan through the byte system. o Before you run the “what-if” scenario for an existing loan, complete all information on
this screen.
Borrower: Information will pre-populate from previous screens. Verify
information
Subject Property Info: Information will pre-populate from previous screens.
Verify information
Other Info: Complete the information in the Other info section as applicable:
Estimated credit score: use the lowest Mid FICO for all borrowers, use
“0” for no-score Streamlines, IRRRLs, and Non-traditional Credit
Non-occupying co-borrower: select as applicable
LO Compensation: choose lender or borrower paid
Corporate relocation loan: select as applicable
Underwriting Method: Select from the following options
4/23/2020 ~ 35 ~
o Manual: Refer, Non-traditional, Streamline and IRRRL loans
o DU: FHA, Conforming, VA, Non-Conforming
o LP: All Freddie products, FHA and VA
Documentation: MSF offers Full and Streamlined documentation
options
o Full: no other info is required
o Streamlined: Complete Asset type, Income Doc Type &
Employment Doc Type as “none”
Loan Info: Information will pre-populate from previous screens; however there
are a few extra pieces of information that may need to be completed.
Jumbo: This will auto populate based on the loan program selected,
Please review for accuracy
Bi-Weekly Loan: select as applicable
Subordinate Financing: Information will pre-populate from previous screens.
Verify information for accuracy
Once all the above info is complete click the what if button at the top of your lock screen
o This will open a new tab from which you can modify/review your information.
Enter/review all the required information on the product search tab and select submit
*or* save to your Optimal Blue Pipeline for future reference.
o Upon submitting your “what if” query a new page will open with available products.
Review available products from the “full listing tab”. To compare
options and pricing select the compare box next to the products and
then compare products on the “blended comparison” tab (shown
above)
To modify any information prior to locking select the
magnifying glass symbol in the top right portion of your file information. This
will navigate you back to the file to make said changes. Follow the steps above
to complete lock request once all changes have been made
You may also choose to run a “new search” for prospect pricing scenarios and save for future
reference. Please note that this will deselect your current loan and start fresh, meaning all
previous information entered will be purged from the “what if” scenario previously generated.
4/23/2020 ~ 36 ~
o To save to the OB pipeline select “save to OB Pipeline tab”. This will allow you to save
your file to review later.
To access your saved loan select the pipeline tab located in the top right corner
of the OB screen.
Please Note that access to OB is set at an organizational level, therefore all
loans saved within the piplene will be viewable to the enitre organization.
To search for specific saved loans, within the saved pipeline, use the
filter tools for quick search
o To navigate back to your file you must re-open the byte portal and then select your file.
You may need to re-log in if you are idle too long.
Lock History Screen The Lock History screen is designed to allow you to review your Lock History, lock terms and lock confirmation all in one convenient place. Track dates, expirations, and extensions as soon as they occur. Viewing your lock confirmation is as easy point and click.
o To view lock confirmation: select the “view lock confirmation” button. This will redirect you to the corresponding lock confiramtion page. To go back to the lock page you can either hit the back button on the web browse or select the lock history tab
Credit Screen This section is specific to setting up, obtaining and reissuing new credit for most credit vendors.
Setting up account information:
o Select the “Change provider” link under the provider info heading
Find your credit vendor and hit select
o Select the “edit credentials” link under the provider info heading
4/23/2020 ~ 37 ~
A new screen will open. Enter your account ID, User Name and Password and
select Save.
Once you have entered your credentials you are now ready to order new and reissue existing credit for a
file.
Obtaining New Credit (Kroll Factual Data Only for New Credit– For credit reissue see Desktop Underwriter) To order new credit select “new” from the request type drop down located under the request heading.
Next, verify your borrower’s information is complete in the borrower section. Once you are ready select
the “order credit” button above the Provider info heading
After a moment a message will appear at the top acknowledging that the import was successful.
Additionally under the documents heading you will see your credit report.
From here you can choose to import your debts or save and come back later.
4/23/2020 ~ 38 ~
Import debts: To import debts from your recently issued credit report, select the “import debts”
button. A new page will open. From here you will see the credit reports associated with your
file. Choose the report you wish to import debts from and hit “select” or to cancel and return
select “cancel and return”
o A new page will open asking you to confirm import. Please note that any existing
liabilities previously entered in your file will be deleted if you choose to import debts
from the credit report. Additionally all liabilities, including those with $0 balances, will
appear in the liabilities section of your 1003. If you wish to proceed select “import” to
cancel and return select “cancel and return”
Upon successful import a validation message will be displayed
Linking Existing Credit To link existing credit using current vendor data, select reissue from the request type drop down located
under the request heading. Then enter your credit reference number in the corresponding box.
Next, verify your borrower’s information is complete in the borrower section. Once you are ready select
the “order credit” button above the Provider info heading. After a moment a message will appear at the
top acknowledging that the import was successful. Additionally under the documents heading you will
see your credit report
From here you can choose to import your debts or save and come back later.
4/23/2020 ~ 39 ~
Import debts: To import debts from your recently reissued credit report, select the “import
debts” button. A new page will open. From here you will see the credit reports associated with
your file. Choose the report you wish to import debts from and hit “select” or to cancel and
return select “cancel and return”
o A new page will open asking you to confirm import. Please note that any existing
liabilities will be deleted if you choose to import debts from the credit report.
Additionally all liabilities, including those with $0 balances, will appear in the liabilities
section of your 1003. If you wish to proceed select “import” to cancel and return select
“cancel and return”
Upon successful import a validation message will be displayed
Feedback Certificate No DU ID’s? No worries! In an effort to “Keep it simple” Mortgage Solutions has set up your profile so
you can run a feedback certificate through the Byte Portal using our DU credentials. Additionally if you
choose to run AUS through the portal, there is not a need to release findings to us!!
Desktop Underwriter Screen Complete all data as applicable:
Request information: Complete the escrow waiver information, first mtg. holder and doc type.
o Please note MSF only offers full and streamlined documentation types
VA entitlement amount: Enter the maximum entitlement
Community lending: complete as yes or no
Credit information: verify provider information is accurate, verify your credentials and enter
credit reference information and action
o Credit provider: To change credit provider select the
“Change provider” link under the credit information
heading and locate the credit provider you wish to use
from the list.
4/23/2020 ~ 40 ~
o Edit Credentials: Select the “Edit provider credentials”
link. A new page will open. Enter your user name and
password and hit save
o Credit reference number and action: Choose to order new credit or reissue existing
credit
For new credit select default action or new report from the credit action drop
down. Do Not enter a credit reference number in the reference number box
To re-issue or link credit to DU select the reissue option in the drop down and
complete the credit reference number in the ref. no. box.
o Prior to running DU you should run a validation check to ensure no errors exist. Do this
by selecting the “validate” button at the top of the Desktop Underwriter page. If any
errors exist a message will appear in red informing you what needs corrected. Correct
errors and then re-run the validation.
o Upon verification that no errors exist you can either save your file to run DU at a later
date or submit the file for recommendation
Submitting to DU: Upon selecting submit a new screen will appear asking you to
conform report method (re-issuance of current report or obtain new report).
Click OK to accept or cancel to reject.
After you select OK you will be redirected back to the DU page. If DU ran
successfully you will receive a message at the top of the screen indicating
successful submission
4/23/2020 ~ 41 ~
Note that once DU has been run you can no longer edit your credit
provider within the credit information section on the DU screen as the
link will no longer be available
To view your AUS findings, navigate down to the documents section on the DU
page and click on any of the hyperlinks associated with that document. You will
also find a copy of the AUS findings within the stored documents tab
Loan Prospect Screen In order to be able to run LP out of the Byte Portal, you must first sign up to be a sponsored originator with MSF. For details on how to become a sponsored user please contact LP at 800-FREDDIE or see LP section below. When calling LP, select Option 2. You will need your LP TPO Originator ID and Password as well as MSF’s seller Servicer Number: 156966 Once you have obtained your affiliation, you must provide MSF with your TPO Originator ID and Password in order to run LP out of the LOS system. TPO # and passwords are entered and stored in your user profile. Once this info is entered, you are ready to use LP. Please complete all data in byte LP page as applicable:
Request information: Complete the origination processing point as “application”, Enter the loan
identifier*, and the Lender registration number*.
o Loan Identifier: A tracking number used to identify your loan.
o Loan Registration Number: A tracking number assigned by a lender to identify the loan
for pipeline management.
Loan and Other Information: Enter the total amount of reserves, New construction type (as
applicable), Offering ID, refinance cash out amount, and Buy down contributor (as applicable)
o Offering ID: If your loan program is any of those listed in the drop down, select the
corresponding program from the list.
Government Loans: To be completed on FHA and VA loans
o All Loan types: Indicate if the Borrower is a Veteran
4/23/2020 ~ 42 ~
o FHA: complete the FHA Borrower closing costs, FHA Financed Discount points, and
Indicate if the Borrower is a Veteran
o VA: Complete the VA Residual Income and Indicate if the Borrower is a Veteran
Property Information: Complete the PUD indicator box (as applicable), Building status type,
property category type, and Ownership type (as applicable)
Credit information: verify provider information is accurate, verify your credentials and enter
credit reference information and action
o MSF LP has the following LP CRC’s approved: CBCInnovis, Corelogic/Credco/Crestar,
Equifax & Factual Data (For LP the use of one of these CRC’s is required)
o Credit provider: To change credit provider select the
“Change provider” link under the credit information
heading and locate the credit provider you wish to
use from the list.
o Edit Credentials: To enter or edit your credit credentials, navigate to the Credit page.
Under the “Provider info” section, select “change provider” and
select your credit provider. Next, select the “Edit credentials” link.
A new page will open. Enter your user name and password and hit
save. At this point you will need to navigate back to the Loan
Prospector page.
o Credit reference number and action: Choose to order new credit or reissue existing
credit
For new credit (Kroll Factual Data Only) select default action or new report from
the credit action drop down. Do not enter a credit reference number in the
reference number box
To re-issue an approve CRC (list above) or link credit to LP select the reissue
option in the drop down and complete the credit reference number in the ref.
no. box. and click the “order Merged credit indicator box
o Prior to running LP you should run a validation check to ensure no errors exist. Do this
by selecting the “validate” button at the top of the Loan Prospector page. If any errors
exist a message will appear in red informing you what needs corrected. Correct errors
and then re-run the validation.
4/23/2020 ~ 43 ~
Please Note that if there are multiple borrowers on the applcation you must
enter an income for all borrowers. For borrowers without income enter income
as base and enter amount as $0
o Upon verification that no errors exist you can either save your file to run LP at a later
date or submit the file for recommendation.
When Merging existing credit, before you run LP verify that the credit action is
set to re-issue report
o Submit to LP. Upon successful submission a message will appear in red at the top under
the Loan prospector heading stating submission was successful.
To view your LP findings, navigate down to the documents section on the LP
page and right click on any of the hyperlinks associated with that document.
Select open in new tab. You will also find a copy of the LP findings within the
stored documents tab
4/23/2020 ~ 44 ~
DO Sponsorship Only users with Admin access can add, delete and modify existing users and sponsor relationships.
Users Without a DO Admin Account
o To register for FNMA DO click here
To add new admin users, Click Manage my applications and users (admins)
located in top left corner
Under Add or Modify Administrator(s) tab, Click Technology Manager
Administrator Registration Form
Complete and sign the form and return to:
Customers With a DO Admin Account
o To add new admins follow the steps above.
o To Add new end users follow the steps below
To register a new FNMA DO account click here
To add new end users, Click Need help administering DO, HCO, UCDP or
Non-seller CU access located in top left corner
Under the Additional resources tab select DO registration & Account
Managerment
4/23/2020 ~ 45 ~
Under Manage my account section located in the top left margin, click make
account updates
Under Registration forms, select DO User registraction form
Complete all of the required information for up to 2 users, sign and
date the form, and hit submit by email located at the bottom of the
form to submit.
o To Add new sponsoring lender relationships follow the steps below
Click here
Select Need help administering DO, HCO, UCDP or Non-seller CU access
located in top left corner
Under the Additional resources tab select DO registration & Account
Managerment
4/23/2020 ~ 46 ~
From here there are 2 processes you can add sponsorship.
Process 1: Under the DO Sponsoring Lender Resources tab select
add new sponsoring Lender relationships link
o Log into your DO account and complete required information
then submit
Process 2: Under Manage my account section located in the top left
margin, click make account updates
o Under the Additional resources tab select DO registration &
Account Managerment
o Under Account Updates, select DO Lender/origionator
relationship form
o Complete all information on form, sign and date. Return
completed forms to your sponsoring Lender.
Sponsoring lender to return completed forms via
mail or fax
Mail to: Fannie Mae
Registar, 6H-3E/03
13150 Worldgate Drive
Herndon, VA. 20170
Fax to: (703)833-5680 or (703)833-0655
4/23/2020 ~ 47 ~
LP Sponsorship To sign up for LP Sponsorship visit: http://www.loanprospector.com/signup/
To begin answer the questions under who are you and how will you use Loan Prospector.
Under who, select Third-Party Originator
Under How, select Sponsored Access
Hit Continue to access the next step.
The next page will provide instructions on the process for obtaining sponsored access for TPO
originators.
Read Steps 1 and 2. No action is required on these steps as they are informational.
Under Step 3- click the secure sign-up form link to continue with registration
Complete all the fields/screens in the sign-up screen and hit next
MSF Seller/Servicer#: 156966
When all info is completed, print and document your confirmation number. Please allow up to 2 business days for application processing.
4/23/2020 ~ 48 ~
VA Sponsorship and Appraisal Ordering
VA Sponsorship: New User To begin Log into WebLGY
Select User registration in the left margin
On the next page select register now link
Select VA Affiliate and then click next
Complete the information on the next couple of pages. When info in each section is complete click next.
Information to be completed:
Personal information
Contact Information
Login Security/ information
o Note password must contain at least one upper case, one lower case and one numerical
Community subscription
o Organization: VA Affiliate
o VA Affiliation: Lender
MSF sponsoring Lender ID: 8252600000
Contact Sales support for Pin (changes every 90 days)
4/23/2020 ~ 49 ~
Terms and conditions
Read through the terms and conditions. Select “I accept” and Submit to complete registration
VA Sponsorship: Existing User To begin Log into WebLGY
In the user info, complete your user name and password.
Under My services, select my profile
From this screen select relationship link found in the left menu under user update profile
In the next screen (relationship / subscription information) click “modify”
4/23/2020 ~ 50 ~
This will open up the modify relationship / subscription information screen. Select “VA Affiliate” and hit
next
On the Modify relationship screen (a few screens forward) complete the following:
o Organization: VA Affiliate
o VA Affiliation: Lender
MSF sponsoring Lender ID: 8252600000
Contact Sales support for Pin (changes every 90 days)
On the Terms and conditions screen select “I accept” and submit.
VA Appraisal Ordering
Please Complete the MSF VA Case Number / Appraisal Order Form
Non-VA Appraisal Ordering Wholesale Appraisal Orders - https://mortgagesolutions.net/wholesale/existing-partner/broker-
resources/order-an-appraisal/
Correspondent – Order Appraisal according to seller policy and procedure
Compliant & Eligible Transferred Appraisals Allowed – Wholesale and Correspondent
4/23/2020 ~ 51 ~
GUS Sponsorship USDA now allows brokers to run GUS findings. In order for MSF to accept broker provided GUS findings
you must obtain sponsorship from MSF
Log into USDA eAuthentication page
Request Level 1 account
Complete Steps 1-4
o Step 1 Account Registration. Complete all required fields and hit continue
o Step 2 Account Verification. Verify your information is correct and hit submit
o Step 3 Print Confirmation email. At this point your account will be created. You will
need to navigate to your email to complete Step 4
o Step 4 Activate your account. You will need to wait 10 minutes from receipt of email
to activate your account. Follow the instructions int eh email to complete
registration
Once you have created an account you can then request sponsorship
o Email your EAuth ID and Federal Tx ID# to [email protected]
Upon acceptance of sponsorship you can now run Guaranreed Underwriting System (GUS)
Running GUS Authorized System- select Guaranteed Underwriting System
o Secutiry role- Lender Agent
o Lender ID- Enter MSF TIN #: 84-1564935
o USDA Assigned Branch NBR- select branch list, find Mortgage Solutions of Colorado
LLC and select
o Lender Agent ID- enter your TIN
o Lender Agent USDA Assigned Branch Nbr- click branch list and find your name
If the Lender Agent ID does not exist in USDA’s system the Security Administrator will be prompted to contact the Centralized Help Desk to establish the Lender Agent ID in the system. 4/23/2020
4/23/2020 ~ 52 ~
o Release findings to MSF. Control of the application must be passed from the lender agent to the approved lender for underwriting and submission to USDA.
o To transfer control of an application to the approved lender, lender agents must choose to:
o Select Release Control of Application to the Lender at the “GUS Request Credit / Underwriting” page
o Press Submit button.
4/23/2020 ~ 53 ~
TRID Enacted October 3rd, 2015, The Tila-Respa Integrated Disclosure Rule aimed to simplify the mortgage disclosure forms provided to consumers. The rule consolidated four existing disclosures into two forms: The Loan Estimate and the Closing Disclosure. The following guidance is to serve as a reference to common errors within these documents and not as a guide on the actual regulations. For information on the complete rules as regulated by the CFPB, please refer to the following site: http://files.consumerfinance.gov/f/201508_cfpb_tila-respa-integrated-disclosure-rule.pdf
Mortgage Solutions Processed LE and Loan Disclosures Request
Mortgage Solutions does not accept broker processed disclosures on wholesale loan submissions
Minimum items required to request disclosures can be found on our submission form
Process to request loan disclosures can be found on the wholesale submission cheat sheet
Loan Estimate Overview The following sections give a general overview of fee location and LE compliance interpretations. MSF
does not accept broker processed LE disclosures on wholesale transactions. See above process info on
requesting disclosures from MSF.
Loan Estimate Page 1
Loan Details The LE must contain the name or DBA of your company and full business address
The date issued must be within 3 days of application and if locked within 3 days of the lock.
o If the LE indicates that the loan is locked but a lock has not been requested or
transferred to MSF the file is an automatic rejection.
The expiration date must be a minimum of 10 days on all loans
4/23/2020 ~ 54 ~
o If rate lock information is less than 10 days or incomplete file will be rejected
Loan type must be completed or file will be rejected
Loan Estimate Page 2 The following sections cover applicable fees and the corresponding sections for which fees must be
entered. Please note that unless otherwise noted there is a zero tolerance for these sections.
Loan Costs. Section A This section is specific to borrower paid origination fees. Only origination fees charged by the creditor or
originator to the borrower are entered here. The fee must be listed in its entirety, do not reduce it by
any lender credits. All credits will be entered and reflected in the credit section. None of the fees stated
in this section can increase.
Loan Costs. Section B This section is used for 3rd party fees related to the mortgage transaction for which the borrower cannot
shop for. These fee’s include but are not limited to: Appraisal fee, Credit report fee, Up-Front Mortgage
insurance fee and TX Attorney Fee.
Mortgage Solutions fee sources when preparing your LE:
Appraisal fee: See Mercury Network Fee Matrix / VA Appraisal Fee
Credit report Fee wholesale fee certification from submission form
Upfront Mortgage Insurance fee: Per applicable agency requirements / Private MI guidance
Texas Doc Prep. fee: $175 for all Wholesale TX transactions
Survey Fee: Per fee schedule
Ernst – All Title and Transfer Tax fees are verified using Ernst
4/23/2020 ~ 55 ~
Loan Costs. Section C This section is subject to a cumulative 10% tolerance. The tolerance is contingent on the consumer
selecting a third-party service provider on the creditor’s written list of service providers. If the borrower
chooses to shop for a service provider not on the service provider list, the fees disclosed are not subject
to the 10% cumulative tolerance under section 1026.19(e)(3)(ii) of the TILA-RESPA Rule.
Please note the following requirements for fees listed within this section
All fees must be listed in their entirety.
o Do not reduce any fee for credits awarded to the borrower in this section.
Credits should be entered into the credit section of this form.
All fees must be listed individually as a separate line item.
o Do not lump fees together as this causes tolerance violations.
In co-issue states, where title fees include owner’s title and lender’s title, the Lender’s title must
be listed in full and generally be a higher fee than the owners policy fee.
o Credits for Lenders title should not be deducted from the fees in this section.
If the Lender’s title fee listed in this section is substantially less than the Owner’s
title fee listed in section H, the file will be automatically rejected.
Other Costs: Section E This section is unique in that it is subject to Zero tolerance and the 10% tolerance rules.
Recording Fees and Other taxes are subject to the 10% cumulative tolerance
Transfer Taxes are subject to the Zero Tolerance Rule
Other Costs: Sections F & G Due to the fact that prepaids and Escrow payments are subjective and can change throughout the loan
process, neither section F or G have a tolerance limitation. All fees within these sections can change
without regard to a tolerance limitation. These fees typically include, but are not limited to:
Prepaids: Homeowner’s Insurance Premiums, Mortgage Insurance Premiums, Prepaid Interest
and Property Taxes
Initial Escrow Payments: Homeowner’s Insurance, Mortgage Insurance, Property Taxes
Other Costs: Section H This section is used for Borrower paid fees that are optional. All fees in this section must be listed
individually and in their entirety.
4/23/2020 ~ 56 ~
Other Costs: Section J Use this section to enter all Lender credits awarded to the borrower. Credits should be listed as the
cumulative total for all lender credits awarded to the borrower.
Loan Estimate Page 3
Other Considerations The following sections must be completed, though their omission does not necessarily mean the file will
be rejected:
Assumptions: Indicate whether an assumption will or will not be permitted
Late payment: Indicate the number of days and late charge in percentage format.
o This section must be completed or the file will be rejected.
Servicing: Indicate whether the loan will be serviced by your company or transferred.
Closing Disclosure This section serves to explain the closing process as it relates to TRID and Mortgage Solutions’ policies.
Upon confirmation that the file is ready for final review a doc request will be sent to the Funding
department to prepare closing documents. Depending on whether the loan is clear to close or not, the
file will proceed in the following fashion:
File not CTC:
o A figures only doc request is sent to the closing department to prepare the final figures
and send out the CD to the borrower to acknowledge.
Closing will have their normal, published turn time of 1-2 business days to
prepare figures and deliver the CD.
Please note that Mortgage Solutions does not have any control over the
responsiveness of title; therefore, we will not be able to accommodate same
day requests for CD disclosure.
o Once the borrower acknowledges the CD the 3-day waiting period begins.
o Once the file receives the clear to close, an updated Doc Request is sent to funding to
include the actual date and time, including time zone, of the schedule closing.
The closing department will be allowed a 1 business day turn time to prepare
and release the closing documents, assuming no figures have changed from the
initial CD disclosure.
Any significant changes to the loan from the initial CD disclosure to the
clear to close may result in a longer turn time for closing to prepare the
closing documents. Additionally, significant changes that are outside of
allowable tolerances for fees and APR may result in a new 3-day wait
period.
File CTC:
o Closing department receives final doc request and draw docs.
4/23/2020 ~ 57 ~
Closing will have their normal, published turn time of 1-2 business days to
prepare and deliver the CD.
Please note that Mortgage Solutions does not have any control over the
responsiveness of title; therefore, we will not be able to accommodate
same day requests for CD disclosure.
o CD prepared and sent to borrower Once the borrower acknowledges the CD the 3-day waiting period begins. Consummation may occur on the 4th business day after CD is acknowledged.
4/23/2020 ~ 58 ~
TRID and the Closing Process: Example 1 – CD Disclosure for a loan that is not CTC:
Sunday Monday Tuesday Wednesday Thursday Friday Saturday
17-Jan 18-Jan 19-Jan 20-Jan 21-Jan 22-Jan 23-Jan
Submitted
for CTC.
Day 1 of
Condition
review turn
time.
Day 2 of
Condition
review turn
time – file sent
for CTC audit
review.
CTC
received.
Day 2 of
Closings 1-2
turn time.
CAM
submits
updated
doc
request for
closing –
earliest
closing
date is
Monday
12/21
Closing docs
sent to title
with 12/21
Note Date
CD disclosed to
borrower &
Acknowledged
Day 1 of TRID 3-
day wait period
Day 2 of
TRID 3-day
wait
period
Day 3 of TRID
3-day wait
period
Technically
earliest
closing
date
CD disclosed to
borrower not
acknowledged-
Mailbox rule.
Day 2 TRID
Mailbox
rule.
Day 3 TRID
Mailbox rule
CD considered
acknowledged
Day 1 of TRID
3-day wait
period under
mailbox rule
Day 2 of
TRID 3-day
wait period
under
mailbox
rule
24-Jan 25-Jan 26-Jan 27-Jan 28-Jan 29-Jan 30-Jan
Scheduled
Closing
Date
Day 3 of
TRID 3-day
wait
period
under
mailbox
rule
Earliest
closing date
under
mailbox rule
Does not
Count –
non-
business
day
Does not
Count –
non-
business
day
Figures
only Doc
Request
submitted
for CD
Disclosure
Day 1 of
Closings 1-2
turn time for
figures and
docs
4/23/2020 ~ 59 ~
Example 2 – CD Disclosure for file that is already CTC:
17-Jan 18-Jan 19-Jan 20-Jan 21-Jan 22-Jan 23-Jan
Clear to Close
received
Day 1 of
Closings 1-2
turn time for
figures and
docs.
Day 2 of
Closings 1-2
turn time.
Scenario 1:
Figures sent to
title but not
finalized so CD
is not
disclosed.
Title
responds,
figures
approved and
CD disclosed
and borrower
acknowledged
Day 1 of TRID
3-day wait
Day 2 of
TRID 3-day
wait
Day 3 of TRID
3-day wait
Technically
the earliest
closing date
Scenario 2:
Figures sent to
title, figures
finalized, CD
disclosed and
borrower
acknowledged
Day 1 of TRID
3-day wait
Day 2 of TRID
3-day wait
Day 3 of
TRID 3-day
wait
Earliest
closing date
as submitted
on doc
request.
Mailbox rule
under
Scenario 1:
Day 2 of
Closings 1-2
turn time.
Figures sent to
title but not
finalized so CD
is not
disclosed.
Title
responds,
figures
approved and
CD disclosed
not
acknowledged-
Mailbox rule.
Day 2 TRID
Mailbox rule
Day 3 TRID
Mailbox rule
CD considered
acknowledged
Day 1 of TRID
3-day wait
period under
mailbox rule
Day 2 of
TRID 3-day
wait period
under
mailbox rule
Does not
Count –
non-
business
day
Doc Request
submitted to
closing with
earliest closing
date of Friday
12/18
4/23/2020 ~ 60 ~
Mailbox rule
under
Scenario 2:
Figures sent to
title, figures
finalized, CD
disclosed to
borrower
Mailbox rule.
Day 2 TRID
Mailbox rule
Day 3 TRID
Mailbox rule
CD
considered
acknowledge
d
Day 1 of
TRID 3-day
wait period
under mailbox
rule
Day 2 of TRID
3-day wait
period under
mailbox rule
Day 3 of
TRID 3-day
wait period
under
mailbox rule
24-Jan 25-Jan 26-Jan 27-Jan 28-Jan 29-Jan 30-Jan
Update
Scheduled
Closing Date
Day 3 of TRID
3-day wait
period under
mailbox rule
Earliest closing
date under
mailbox rule
Earliest closing
date under
mailbox rule
Does not
Count –
non-
business
day
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