©2015OpenMortgageThisdocumentistobeusedforOpenMortgagetrainingpurposesonlyandissubjecttochange.
Loan Origination User Guide
ThisLendingQBUserGuidehelpsyouuseLendingQBtooriginateloans.Clickonthetableofcontentlinkstoskiptoanydesiredtopic.
TableofContents WELCOME......................................................................................................................................4
QUICKSTART.................................................................................................................................5
1. LOGINTOLENDINGQB.............................................................................................................5
2. ANSWERTHESECURITYQUESTIONS.......................................................................................6
3. ACCESSYOURPIPELINE...........................................................................................................6
4. ADDLQBASATRUSTEDSITE...................................................................................................7
5. CHANGEYOURTEMPORARYPASSWORD................................................................................9
6. ADDYOURSIGNATURE............................................................................................................9
7. ADDYOURPICTURE...............................................................................................................10
8. UPDATEYOURSECURITYINFO..............................................................................................10
9. DOWNLOADREQUIREDPLUGINS..........................................................................................10
10. LEARNTHESEKEYTIPSANDTRICKS......................................................................................11TENLOANORIGINATIONSTEPS...................................................................................................12
1. HowtoNavigateYourPipeline..............................................................................................12
2. HowtoUseQuickPricer.........................................................................................................13
3. HowtoCreateaLead............................................................................................................14
4. HowtoCompletea1003.......................................................................................................15
5. HowtoHowtoOrderandReissueCredit.............................................................................18
6. HowtoRunPriceMyLoan(PML)............................................................................................19
8. HowtoSetFees....................................................................................................................20
9. HowtoRunAUS....................................................................................................................21
10. HowtoConvertaLeadtoaLoan..........................................................................................2210. Howtocreatealoan.............................................................................................................2311. HowtoSubmitforDisclosure...............................................................................................24
12. HowtoSubmittheLoanforProcessing................................................................................24
APPENDICES.................................................................................................................................27
Appendix1:WorkingwithFNMA3.2files...................................................................................27
Appendix2:MobileDevices........................................................................................................28
Appendix4:VirtualPrinter.........................................................................................................29
Appendix5:LoanStatusDefinitionsbyDepartment..................................................................31
Appendix6:LoanWorkflowandStatuschanges........................................................................33
Appendix7:HowtoAddMultipleBorrowers.............................................................................35
Appendix8:SigningElectronicandPrintedDisclosures..............................................................36
Appendix3:LQBLeadsOnDemand............................................................................................38
Appendix4:InvestorTranslationKey..........................................................................................40
WELCOMEHello,andWelcometoLendingQBforOpenMortgage!OpenMortgageusestechnologytoouradvantage.Weembracesocialmedia advances in our marketing, training platforms for compliance,anduse the LendingQB loanorigination system (LOS) to improve for-wardorigination.LendingQB:
▪ Streamlinesprocesses,usingonesysteminsteadoftwo,
▪ Providesopportunitiestousee-signatureande-delivery,
▪ Offersaconsumerportalwhereborrowerscanuploaddocumentsdirectly,
▪ Bar-codesforfasteroperations,
▪ ProvidesTRID-readytools,
▪ Providesgreateraccesstoinformation,
▪ Reduceserrorsandduplication,
▪ Improvesoveralloperationalefficiency
Wehavebeenencouragedbyhowmanyaskedtobethefirsttotrythissystem.WearetrulyexcitedtoofferthisLOSandlookforwardtoseeingtheresults.ThankyouagainforhelpingmakeOpenMortgageaplaceWhereBetterisPossible!ScottGordon,CEO
QUICKSTARTLendingQB,whichwerefertoasLQB,isaninternet-basedplatformthatiscustomizedbyOpenMortgage’sengineeringteam.It’sadynamictoolwhosedatabaseisupdatedwhentheUsersavesdataontheactivescreen.
INTERNETEXPLORER(IE)ONLYIEVersion8orlaterisrequired
Note:YoucannotUseGoogleChrome,Firefox,orSafaribrowserstoaccessLendingQBatthistime.Wehavecreated10criticalstepstoquicklygetyouuptospeedusingLendingQB.Followthisguidetoset-upandbecomemorefamiliarwiththesystem.Ifyouhaveanyquestions,refertothisguideorreachouttoTheDeskforassistance:
https://openmortgage.zendesk.com
1. LOGINTOLENDINGQB
ClickthislinkorenterthisURLintoyourIEBrowser:
https://secure.lendingqb.comThistakesyoutotheLQBloginpage.EnteryourLoginandPassword,andclickontheLoginbutton.Note:UserIDandPasswordarenotcasesensitive.
Asyoucansee,thesystemdefaultstotherequiredLoginType:Normal.
NewemployeesreceiveLendingQBcredentialsfromourLQBsupportteamafterthenewhireprocessandlicensing(ifrequired)arecompleted.Note:Initialpasswordsaretemporary,andwillneedtobechangedlater(Step5).BestPractice:Forthosethatdon’tuseIEastheirprimarywebbrowser,werecommendthatyousetLQBasyourhomepage.IfIEisyourbrowserofchoice,thensimplyaddLQBtoyoufa-vorites.2. ANSWERTHESECURITYQUESTIONS
Firsttimeusersarepromptedtoanswertheseinitialsecurityquestions.Makesuretoselectthreedifferentquestions.
Eachquestionfieldhastheoptionofselectingadifferentchoicefromthedrop-downmenu.Setyouranswerbyclickingonthe“changeanswer”hyperlink.Whenfinished,clickthe"Submit"button.Note:Pleasecompletethisstepupfront,asthiswillallowyoutoresetyourownpasswordandnothavetorelyonourLQBsupportteam.3. ACCESSYOURPIPELINE
Sinceyou’renewtothesystem,youwon’thaveloansinyourpipeline.Onceyouhaveloansinyourpipeline,you’reabletosee,sort,andsearchyourpipelineasneeded.
4. ADDLQBASATRUSTEDSITE
1. ClickyourIEToolsiconintheupperrightcornerofyourbrowserscreen
Select“InternetOptions”fromthedropdown
2. Select the“Security”Tab3. Select “TrustedSites”4. Click “Sites”Button
Thesitehttps//secure.lendingqb.comshouldappear.Simplyclick“Add.”However,youwillalsoneedtoaddhttps://edocs.lendingqb.com.YOURSETTINGS>YOURPROFILE Locatedonyournavigationpanel(left),thisallowsyoutocus-tomizeyourprofile,changeyourpassword,setupyoursigna-ture,addyourpicturetoyourprofile,anddownloadcriticalitems.Thefirsttimeyouaccess"YourProfile",reviewthein-formationaddedbyourLQBsupportteam.
Note:Itisrecommendedtoinitiallyleavethenotificationsettingsasdefaulted.However,somecorporateemployeesmayprefertoonlyreceivetask-relatednotifications.5. CHANGEYOURTEMPORARYPASSWORD
Onthissamescreen,changeyourpasswordbyverifyingyouroldpassword,andenteranewone.Thenewpasswordrequirementsareveryrestrictiveforyourprotection.Yourpasswordmustincludethefollowingguidelines:
o Mustcontainaminimumof6characterso Mustcontainatleastonenumericandonealphabeticcharactero Cannotcontainfirstname,lastnameorloginnameo Cannotcontain3identicalcharactersinarowo Cannotcontain3consecutivealphabeticalornumericcharacters(e.g.ABC,123)o Cannotbethesameasthepreviouspasswordo Cannotcontainthefollowingcharacters<>‘%“&+-=
6. ADDYOURSIGNATURE
Onthissamescreen(YourSettings>YourProfile)youcanaddyoursignaturefilethat’susedforsigningformsanddocumentsinLQB.Createyoursignaturefilebyscanningyoursignatureandsavingitasajpeg,oruseyourcomputer’ssnippingtooltocaptureyoursignatureandsaveitasajpeg.
1. Clickthe“Browse”buttontonavigateyourstoredsignature2. Select thefileandclick“Open”3. Clickthe“Upload”button4. Click“Ok”tosavethechangestoyourprofile
Ifthefilesuccessfullyuploads,yoursignaturedisplaysinyourprofileasshownhere:
Note:YoursignaturefileisassociatedwithYOURprofileandisnotaccessiblebyanyoneelse.
7. ADDYOURPICTURE
PicturesaremostimportantforLoanOriginators,asitwillbeusedintheconsumerportal.Toaddapicturetoyourprofile,clickonthe“Picture”tabandcompletethefollowing:
1. Clickthe“Browse”button2. Locatethepicturefileandclick“Open”3. Click“Upload”button4. Click“Ok”tosavethechangestoyourprofile
Ifthefilesuccessfullyuploads,yourprofilepictureisdisplayedinyourprofile:
8. UPDATEYOURSECURITYINFO
Toaddorupdateyoursecurityquestions,clickonthe“SecurityInfo”tab.Ifyoudidnotaddthesewhenpromptedatfirstlogin,boththesecurityquestionandyouranswermaybeaddedorchangedhere.9. DOWNLOADREQUIREDPLUGINS
Whenlogginginforthefirsttime,eachUsershoulddownloadafewpluginsneededtoenhancefeaturesinLendingQB.Underthe“YourSettings”sectionofthenavigationbar(left),select“Download.”Youwillthenneedtodownloadandinstallthefol-lowingplugins:
• BrowserXTUsedforimporting/exportingCalyxPointandFannieMae3.2,andMISMOfiles
• ePrintDotNetUsedforprintingformsinLendingQB
• LendingQBVPrinterUsedtoprintdocumentsdirectlyintoEDocs
EachofthesethreedownloadsrequiresyoutoacceptaLicenseAgreementbeforeinstalling.
1. Click “DownloadandInstall…”2. Click “Run”whenasked“Doyouwanttorunorsavethisprogram?”3. Click “Yes”toallowchangestoyourcomputer4. Click “Next”toinstall5. Select “Iaccepttheagreement”6. Click “Next”twice7. Click “Install”
Ifthesoftwaresuccessfullyinstalls,yoursoftwareDownloadPagewilldisplaytheresulthere:
10. LEARNTHESEKEYTIPSANDTRICKS
- EnteringNumbers-youwillnotneedtoenteranysymbolslike“-“,“/”,“()”,or“$”when
enteringbirthdates,phonenumbers,ordollaramounts.Simplyenterthenumbers,andLBQwillformatasneeded.
- Enteringadateinthe“Pre-Processing”fieldmaychangethestatusoftheloanandre-moveyourabilitytoeditdatawithintheloan.
- Today’sDate-Youcanenter“T”inadatefieldtoentertoday’sdate.
Remember:Ifyouhaveanyquestionsduringthisintroductoryroll-out,pleasereachouttoTheDeskathttps://openmortgage.zendesk.com
TENLOANORIGINATIONSTEPS1. HowtoNavigateYourPipeline
LQB letsUsersmanagepipelineviewsusinga setofpublished“reports”. LQBuses the term"Report" to represent loansyoucanchoose tosee.Bydefaultyou’llhave tabs labeled“YourPipeline”and“Tasks”.YOURPIPELINEPleasemakethefollowingchangeto“YourPipeline”Settings
1. Click “YourPipeline”tab2. Click “(change)“intheupperrightcorner3. Select “Showallloansyouhaveaccessto”insteadofthedefault4. Scroll tothebottomandClick“OK”
Werecommendyoucreatea“Leads”reportand“LoanOfficer”reporttoprovideinformationyou’llneedtomanageyourloans.Pleasefollowthesesimplesteps:
Adda“Leads”Report1. Select the“+”sign
2. Namethenewtab“Leads”
3. Select “Showallloansyouhaveaccessto”
4. Click“choose”nexttothereporttitled“[Pipeline]YourLeads”
5. ScrolltothebottomandClick“OK”
Adda“LOPipeline”Report1. Selectthe“+”sign
2. Namethenewtab“LOPipeline”
3. Select “Showallloansyouhaveaccessto”
4. Click“choose”nexttothereporttitled“[Pipeline]LoanOfficer”
5. ScrolltothebottomandClick“OK”
Reportscanbeaddedordeletedatanytime.Your“Tasks”tab,however,cannotbedeleted.Note:Keeptabnamesbrief,asthefulltabnamewillbedisplayed.SELECTINGANDOPENINGALOANUsingthe“YourPipeline”tab,youcanopenloansbyclickingontheloannumber. Usingthe“LOPipeline”tab,youcanopenloansbyclickingontheBorrLastName.Onceopened,youhavethefollowingoptionswithinyourpipelineview:
• edit-selectthisoptiontocompletevariousprocessingtasks.
• summary-selectthisoptiontoreviewaloantransactionsummary.
• newtask-selectthisoptiontocreateataskassociatedwiththisloan.
2. HowtoUseQuickPricer
UsetheQuickPricertoolduringcasualconversationswithpotentialborrowers.Itletsyouseepricingwhileonlyaskingafewkeyquestions.Withminimalborrowerinformation,youcanuseaccessratesanddiscussoptionsbyusingthesesteps:FromtheLeftNavigationMenuunderLOANS, Click “QuickPricer”toopentheQuickPricerwindow
Completetherequiredfieldswithandanyotherin-formationyouhave.
Thefieldtitled“TotalMonthlyIncome”isdefaultedtoanexaggeratedamounttomakesuredebtratiosarenotanissuewithinitialpricingestimates.Thefieldtitled“TotalLiquidAssets”isnotrequired,butmaybeimportantindeterminingavailableproducts.
Select variousproducttypeswithinthe“ResultsFilter”Click “Price”
PRICINGOPTIONSPricinginBLACK=CurrentPricingPricinginRED=ExpiredPricing
- Thiscouldmeanthepricingisoutdated,ortheinvestorisgoingthrougharatechange.RatesareupdatedinLQBevery5minutes,butyoumayneedtowaitforbusinesshoursforsomepricingtobecomecurrent.
FromQuickPricer,youcancreatealead,createaloan,and/orcomparepricingoptionsrightfromQuickPricer,basedontheinterestlevelofthepotentialclient.
TheinformationyouenteredinQuickPricerwillpopulatetotheproperfields.Youroptionsin-clude:
- CreateLead-Forclientsyouwishtofollowup- CreateLoan-Forclientsreadytoproceed- ComparePinnedResults-Forloanpricingacceptableforyourclient,youcanpin
resultstogenerateacomparison.- Donothingatall-Simply“x”outofthisscreentoleaveQuickPricer,forthose
notinterestedandnotwillingtogiveyouanameandphonenumber.Note:ThisQuickPricerfeatureisavailableonMobileDevicesaswell.3. HowtoCreateaLead
IfyoudidnotcreatetheleadthroughtheQuickPricertool,youcandosofromthemainnavi-gationmenu.CreatingaNewLeadItisrecommendedthataloanoriginator(LO)begintransactionsasalead.Thisallowspricingscenarios and the collectionof information fromborrowerdwithoutmaking the lead a loan.Createanewpurchaseorrefinanceleadusingthefollowingsteps:
1. Selecttheappropriatelinkunderthe“Leads”heading:
Clickingoneitherof these linksopensanewwindow for you to select theappropriate tem-plate.TheLQBwillopenthenewfiletotheThisLoanInfoscreen.
Note:It’srecommendedyoucollapseALLoftheleftnavigationfoldersandsaveasastandardview.ThismakesLendingQBeasiertonavigate.
NEWsection“HowtouploadandacknowledgeThecreditauthorization.”
Note:Withouttheborrowersauthorizationtopullcredituploadedandacknowledged,youwon’tbeabletoentertheSocialSecurityNumberintheborrowersinfoscreen. Attemptingthiswithoutcompletingtheproceedingstepswipesoutalldataenteredwhentry-ingtoadvancetothenextscreen.
Onceyoureceivetheborrowers’authorizationtopullcredit(thiscanbeanemailfromyourborrowersavedasapdf,theborrowerssignatureauthorizationform,orahandwrittennoteonapieceofpaperthat’sscannedandsaved)you’llneedtouploaditintotheEDocs
OpentheEDocsfoldertheclickonUploadDocument.SelectDocType>CreditthenCreditAu-thorization,borrowerselectthefilefromyourPCandclicktheUploadbuttoninthelowerleft. Then“tell”LQBit’stherebyresolvingthetaskinTaskListorbyenteringtodaysdateinCustomfields1–20screeninthestatusfolder,fieldsetID#10CreditAuthorizationReceived.Typingina“T”populatestoday’sdateinanydatefiledinLQB.
4. HowtoCompletea1003
FilloutdifferentsectionsoftheLoanApplicationfoldertocompleteyour1003.Completethefollowingscreens:
1. ThisLoanInfoMostinformationenteredhereislinkedandcross-referencedtodif-ferentsectionsofthe1003.Somakeyouthoroughlycompletethisscreen.Note:LQBwillfrequentlyask“Doyouwanttosavechanges?”andyoushouldalwaysclick“Yes”tosavechangesandproceedtothenextscreen.
2. SubjectPropertyDescriptionEnteringjusttheZIPcodewillauto-populatetheCity,StateandCoun-ty.Insomeunincorporatedareas,you’llneedtoaltertheinformationbyadding“Area”afterthenameoftheCityinthatfield.Note:Ifthesubjectpropertyaddressiscurrentlynotknown,enter“TBD”asthepropertyaddress.Anyaddressotherthan“TBD”maytriggerthedisclosurequeue.
3. SubjectPropertyRentalIncome
Thisscreenisonlyusedwhenthesubjectpropertyis2-4unitsandowneroccupiedORthetransactionisforanon-owneroccupiedpurchasewiththesubjectpropertycurrentlyrented.
4. Refi/ConstructionLoanPageIfthepurposeoftheloaniseitherarefinanceorconstructionloan,completethisinformation.
5. BorrInfoMakesuretocompletetheborrower’semailandmailingaddresses.IfyouknowtheborrowerwillbeusingaPowerofAttorney,youcanenterverbiagewithinEditAliases/POAtogivethosetouchingthefilenotificationofneedforaPOA.Youcanenterandsavealltheinformationonthisscreenifyouomitthesocialsecuritynumberwithoutuploadingandacknowledgingthereceiptofborrowerauthorizationtopullcredit.Note:Atanytimeyoucanreturntothisscreenandclicksendemailtoemailyourborrower.
6. TitleandEstatesEnteranyknowninformationabouthowthetitlewillbeheld,sourceofdownpayment,andanysellerinformation.Ifthereisanon-borrowingspousethatwillbeontitle,addthemherebycheckingthelockboxandaddingtheirname.Note:OnlyenterthesellerinformationifthesubjectpropertyisinthestateofTexas.
7. Borr.Employ.&Co-borr.EmployEntercurrentinformationinthetopsectionofthescreen.Toadditionalemploymenthistory,clickonthe“Add”button.However,ifitisacurrent2ndjob,makesuretocheckthe“Currentemployment”box.Click“Save”whenfinished.
8. MonthlyIncomeEnterintheborrower(s)monthlyincomeintheproperfields.Note:Usethe“BaseIncome”tooltoconvertanywageintomonthlyincomebyenteringthestatedincomeamountandselectingtheappropriatepayperiod.Note:Usethedropdownfor“OtherIncome”asthelistedtypesarerecognizedbyDOandLP,andwillhelpwiththeaccuracyofyourfindings.
9. OtherFinancingInfoUsethisscreenwhenthereisANYsubordinatefinancing.Whencompletingthisforanewloan,enterthecurrentbalanceandthequalifyingrateandterm.Oncethisinformationisenteredandsaved,themonthlypaymentisautomaticallypopulatedonthe1003.Note:LendingQBisintuitiveandwillautomaticallycheckthefirstboxforapurchase.IfthesubordinatefinancingisaLOC,selectthe2ndcheckboxandenteroriginalbalance,drawamount,andminimummonthlypaymentinthe“paymentbase”field.
10. PresHousingExpense
Enterwhattheborrowercurrentlypaysforhousingexpensesintheappropriateboxes.
11. AssetsThetoppartofthescreencontainsEarnestMoney(cashdeposits),RetirementAccounts(401k),andREO.Usethebottomportionofthescreentoaddinallothertypesofassets.
Click “Add”SelecttheborrowerandtheassettypeEntertheassetdetailsandclick“Save”
Note:Tochangetheorderofassets,clickontheassetyouwishtomove,andclicktheMoveUporMoveDownbutton.
12. REOEnterallRealEstateOwned(REO)onthisscreen.Completethefollowingsteps:
Click “Add”Fillouttherelevantinformationfortheborrower’spropertyClick“Save”
13. Liabilities
Thisscreendisplaysliabilitiespulledinfromthecreditreport.Youmayalsoordercreditfromthisscreenbyclickingthe“OrderCredit”button.Refertothefollowingsectionfordetails.Se-lecttheliabilityonthescreen,reviewtheinformationforthatspecificliability,anddetermineifitwillbepaidoff.Note:Ifthetransactionisarefinancefordebtconsolidationselectthe“DebtConsolidation”radiobuttontoviewthemonthlysavingstotheborrower.Note:MakesuretoLinkREOpropertiestotheirrespectiveliabilities.
14. DeclarationsBesuretocompleteallofthedeclarationsforeachborrower.Note:Revieweachanswer,assomehavebeendefaultedforyourconvenience.
15. GovernmentMonitoringDataCompletethegovernmentmonitoringquestionsforeachborrower.
16. LoanOfficerLicensingInfoMostofthisdatawillpopulatebasedontheofficialcontactthatenteredthedata.However,theLOwillenterHOWtheapplicationwastaken.Note:LQBwillpopulatethe“InterviewDate”asthetimewhenLQBdetectsthatallsixpiecesofapplicationdatahavebeenenteredintothesystem.Thisdatecannotbechanged.
17. ContinuationDataThisscreenisusedforoverflowfrom1003fieldswhenadditionalinformationdoesnotfitintothedesignatedfourstandardpagesofthe1003(e.g.housinghistoryandliabilities).
18. RunPriceMyLoan/LockRequestRefertotrainingonthisfunction(HowtoRunPML).Oncepriced,clickregister.ThispopulatesfeesontoyourNonP&IHousingExpensesandtheGFE.
19. UpfrontMIP/FFThisdataispopulatedfromthePMLengine.
20. DetailsofTransactionThisscreenisusedforestimatedprepaidandclosingcosts,andpopulatesfromtheNonP&IHousingexpenseandBorrowerResponsibleClosingCostscreens.Seesection3.9Note:ThroughoutLendingQB,therearebluehyperlinksnexttoseveralfields.Clickonthelinktoopenupthecorrespondinginputscreen. 5. HowtoHowtoOrderandReissueCredit
PleasenotethataBorrowerSignatureAuthorizationMUSTbeobtainedanduploadedintoLQB(EDocs)priortocreditbeingordered.Thisformcanbeinemailformatorasignedformusingthesesteps:
1. Open thePDForemailtoupload2. Goto File>Print3. Select “LendingQB”astheprinter(drop-down)4. Enter LQBlogincredentialsandclick“Login”5. Click “ProcessUploadedFiles”button6. Click selectapplicationtoselecttheloanfile7. Click selectDocTypetoCREDITAUTHORIZATION(UnderCREDITfolder)8. Click “Apply”touploadthedocumentandclosethewindow.
Whenyouarereadytoordercreditfortheborrower(s),therearemultiplewaystoperformthistask:fromtheLiabilitiesscreen,Servicesfolder,andfromPriceMyLoan(PML)Screen.Youmayalsore-issueanexistingreport.Notethatfieldsmarkedwitharerequired.FromtheLiabilitiesScreenortheServicesfolder,followthesesteps:
1. Click “OrderCredit”2. Select “CreditAgency”3. Enter logincredentials
4. Ifnotpopulated,enterandcheck“RememberMyLogin”5. Click “SubmitCreditRequest”Whenpullingcreditthrough“Liabilities”intheapplication,youmayneedtolinkeachmortgageliabilitytothecorrespondingREOproperty.Fromtheliabilitiesscreen:
1. Click themortgageliabilitytohighlightit2. Select appropriatepropertyfrom“PropertyAddress”fielddropdown3. Click “AddBal/PmtInfotoREO”
VIEWINGTHEREPORTAcopyofthecreditreportwillpopuponyourscreen.Don’tbothersavingit,asacopywillbestoredwithinLQB.Thecreditreportwillpopulateallopentradelineswithaloanbalanceorpayment,andmaybeaccessedinthefollowinglocations:
▪ OntheLiabilitiesscreen,click“ViewCredit”▪ EDocsfolderintheLeftNavigationMenu▪ Servicesfolder>ViewCreditintheLeftNavigationMenu
6. HowtoRunPriceMyLoan(PML)
PMLcanberunBEFOREacreditreportispulled.ItisverysimilartoQuickPricer,butmoreaccu-rate,aseverythingistakenintoaccountwhendeterminingPMLpricing.PMLcanonlybeac-cessedwithinyourLoansView,butisaccessibleinthefollowingfolders:
▪ LoanApplication>RunPriceMyLoan,or ▪ PriceMyLoan>RunPriceMyLoan
1. CompletefieldsinApplication#1tab2. CompletefieldsinProperty&Loantab
Note:Makesuretoenteran“ExpectedAUSResponse”togetmorepricingoptions.Note:Whenyouselecta“RateLockPeriod”,itwilladjustyourestimatedclosingdate.
3. SelectthealldesiredTerm(s),Amortization(s)andProduct(s)usingthecheckboxes
4. Clickthe“Price”button,onceallofthedesireditemshavebeenchecked
MakesuretoverifyALLitems,becauseeachfieldmayimpactyourpricing.Theresultswillbedisplayedwiththeeligibleprograms/pricingasshownhere:
PRICINGOPTIONSYourcompensationisalreadybuiltintothepricingyouseeonyourscreen.ForExample,101.250wouldallowyoutocontribute1.25%inlendercreditstowardborrowerclosingcosts.
COMPARISONREPORTMakesureto“pin”optionsfortheborrowerandclick“ComparePinnedResults”atthetopofthescreen.Clicking“SendReporttoBorrowers”sendsacustomizedcomparisonofproductsandpricingtoaborrower.REGISTERTHELOANWhentheborrowercommitstotheirpricingoption,ANDacreditreportisonfile,ANDallap-propriateGFEFeeshavebeenadded,followthesestepstoregistertheloan:
1. Re-runpricing2. Click “register”3. Select“Iagree”4. Click “Confirm”5. CloseoutofConformationscreen(ignore)onceitpopulates.
Thestatuswillthenbechangedto“Registered”7. HowtoSetFees
Oncepriced,clickregister.Thispopulatesfeesontoyour“NonP&IHousingExpenses”andthe“Borrower-responsibleClos-ingCosts”screens.Reviewthedataonbothofthesescreensforaccuracy.NONP&IHOUSINGEXPENSES Review the information working acrossthetabsfromlefttoright.
AmountsIfapplicable,ensuretheboxesforeachescrowitemischecked.Note: Themonthly amount for Hazard Insurance and Property Taxes along with anyHOAduespopulatefromthe“ThisLoanInfo”screenortheymaybeenteredhere.PrepaidsIfanitemsuchasHazardInsuranceneedstobeprepaid,checktheprepaidboxanden-tertheprepaidnumberonmonths.Escrow/ImpoundsForHazardInsuranceandPropertyTaxes,ensurethecorrectmonthsofreservesareen-teredunder“MthsRsv”heading.DetailsExpandtheviewbyclickingtheappropriatefee.Reviewthedisbursementscheduleforeachitempayingattentiontothemonthsinwhichtheitemsaredisbursed.Note: For purchase transaction always set Hazard Insurance Disbursement schedulepaymentrepeattoAnnuallyinclosingmonth
BORROWER-RESPONSIBLECLOSINGCOSTSReviewthefeesinSectionsA-HthatwerepopulatedfromtheFeeServicewhentheloanwasregistered.Youhavetheabilityto:
- Re-titleanexistingDescription/Memo,- Changeanamountbyclickingonthebutton,- Adjustthe“Paidby”and“Payable”dropdowns,- Removeafeebyclickingonthebutton,or- Createadditionalfeesbyclickingonthebutton.
Note:Makesuretoincludeatleastoneproviderforeach“Title-Closing/Escrowfee”withinthe“SettlementServiceProviderList”screen.Selecttheappropriateselectioninthe“Paidto”dropdown.Keepthemconsistent.8. HowtoRunAUS
Oncetheloanhasbeenregistered,andthefeesarecorrect,youcanruntheloan/leadthroughanAutomatedUnderwritingSystem(AUS).YoucanaccessAUSscreens-the“Services”folder.ACCESSDOTHROUGH“Services”(LeftNavigationPanel)
1. Clickthe“Services”folder2. SelectSubmittoDO/DU3. Enter additionalinformationifrequired4. Click SubmittoDesktopOriginator
5. Reviewthefindingsresult
Note:UseDO,notDU,andkeepinmindDOdoesnotrequireLenderInstitutionID.ACCESSLPTHROUGH“Services”(LeftNavigationPanel)
1. Click the“Services”folder2. SelectSubmittoLP3. Enter additionalinformationifrequired4. Click SendToLoanProspector
5. Reviewthefindingsresult
Note:LPSellerNumberisrequired(#121555)ACCESSAUSTHROUGH“PRICEMYLOAN”Iftheloanisin“LEAD”status,youcanrunAUSfromPML.FromtheLeftNavigationPanel,
1. Click the“LeadInfo”folder
2. Select“RunPriceMyLoan”3. Enter datain“Application#1andPropertyandLoanInfo4. SelectapplicableAUSbuttonintheupperlefthandcorner
ForDO,5. Click “Submit”ForLP,6. Enter requiredcreditreportinformation7. Click “SendtoLoanProspector
9. HowtoConvertaLeadtoaLoan
Whileyoucandoalotinleadstatus,youcannotdisclose.TherearemultiplewaystocreateaLoan-fromtheLeadView,withinPML,andfromQuickPricer.Oncetheloanisconverted,LQBwillgenerateasequentialloannumberandputtheloaninLoanOpenstatus.
FrominsideanexistingLEAD1. Click “Status”Folder 2. Click “AssignmentandStatus”Page3. Click 4. Click “Convert”
Note:Thescreenwillrefresh,inLoanOpenstatusFrominsidePML
1. Click intheupperlefthandcorner
2. Choosetheappropriatetemplateinthedropdown3. Click “Convert”4. Click “OK”whenprompted
10. Howtocreatealoan
Thereareseveralwaystocreatealoanifyoudonotwanttostartthefileasalead.Note:Itisrecommendedthataloanoriginator(LO)begintransactionsasalead.Thiswillallowforthepricingofscenariosandthecollectionofinformationfromtheborrowerwithouthavingtomaketheleadaloan.
1. Youmaycreateeitherapurchaseorrefinanceloanbyselectingtheappropriatelinkun-derthe“Loans”heading:
Clickingoneitheroftheselinkswillopenanewwindowforyoutoselecttheappropriatetem-plate.TheLQBwillopenthenewfiletotheThisLoanInfoscreen.
Seesection3.4howtocompletea1003
ItisrecommendedyoucollapseALLoftheleftnavigationfoldersandsaveasastandardview.ThiswillmakeLendingQBeasiertonavigate.
Note:Withouttheborrowers’authorizationtopullcredituploadedandacknowledged,youwillnotbeabletoentertheSocialSecurityNumberintheborrowersinfoscreen.Attemptingthiswithoutcompletingtheproceedingstepswillwipeoutalldataenteredwhenyoutryandadvancetothenextscreen.
Onceyoureceivetheborrowers’authorizationtopullcredit(Thiscanbeanemailfromyourborrowersavedasapdf,theborrowerssignatureauthorizationform,orhandwrittenonapieceofpaperthatyouscannedandsaved)youwillneedtouploaditintotheEDocs
OpentheEDocsfoldertheclickon“UploadDocument.”SelectDocType>CreditthenCreditAuthorization,borrowerselectthefilefromyourPCandclicktheUploadbuttoninthelowerleft.Thenwemust“tell”LQBitistherebyresolvingthetaskinTaskListorbyenteringtoday’sdateinCustomfields1–20screeninthestatusfolder,fieldsetID#10CreditAuthorizationRe-ceived.Typinga“T”willpopulatetoday’sdateinanydatefiledinLQB.
Returnto“ThisLoanInfo”screentoproceed.
FromwithinQUICKPRICERYoucancreatealoanwithouthavingfirstcreatedaLead.
1. Click “CreateLoan”2. Choose“Converttoloanusingtemplate” 3. Choosetheappropriatetemplateinthedropdown4. Click “Convert”5. Click “OK”whenprompted6. ThenintheupperrightclickGoBacktoLendingQBtocontinue
EDITINGTHELOANFILEfromthePipelineviewOncetheleadhasbeenconvertedtoaloanfile,itistimetocompletethe1003.Toaccessthe1003,selecttheloanfilefromthepipelineandclickedit.
Bydefault,the“ThisLoanInfo”screenwillopen.YoucanthenfilloutdifferentsectionsoftheLoanApplicationfoldertocompleteyour1003.11. HowtoSubmitforDisclosure
SUBMITFORDISCLOSUREOnceyouarereadytosubmittheloanfordisclosurecompletethefollowing:
- Clickon“CustomFields1-20”intheStatusfolder- EnteradateinFieldSet1ReadyforDisclosureReview
TheDisclosureDepartmentwillreviewthefileandsendoutthedisclosurestoyourborrowerelectronically.Youwillalsoreceiveanemailpromptingyoutosignwhererequired.Note:MakesuretoenteranemailaddressANDphonenumberforeachborrower,eveniftheyarethesame.Note:Entering“T”inanydatefieldwillautomaticallypopulatetoday’sdate.12. HowtoSubmittheLoanforProcessing
Onceyouandyourborrower(s)havereceivedandsignedthedisclosureselectronically(Seeap-pendix??),theywillautomaticallybeuploadedintoLQBintotheEDocs,Documentlist.Thenyouarereadytobegintosubmityourloantoprocessing.Belowareexamplesoftheemailssenttoyouandyourborrower(s):
GATHERINGDOCUMENTSYouwillgathertherequiredincome,asset,identificationdocuments,etc.(e.g.purchasecon-tract)alongwiththerequiredwetsignaturedocuments(BorrowersCertificationandAuthoriza-tion,4506-TandtheSSA-89)anduploadthesebyusingtheVPrinter(seeappendix4)orusingEDocs,UploadDocumentswithintheloanfile.TheSSA-89isnotincludedintheIDS(ourthirdpartydocumentprovider),thismustbepulledfromLQB.TheAppraisalCreditCardAuthorizationformmustalsobepulledfromLQBasitcannotbedeliveredwiththeotherdisclosurestotoregulatorytimingrestrictions.Toprinttheseitemsclicktheprintbuttonintheupperlefthandsectionofthescreenwhileinaloan.SelectßCustomPDFFormsàfromthePrintgroupdropdown.Checkingtheboxtotheleftoftheitemsthenclickingprintselectforms.
ThereareseparateSSA-89formsforeachborroweraswellasoptionsforAvantusorcreditPlusdependingonwhichserviceyouareusing.UPLOADINGInitialloanfilepacketOnceyouhaveallthedocumentsforinitialsubmissiontoyourprocessor,uploadthembygoingtotheEDocsfolder,DocumentUploadthenselectthe“INITIALPROCESSING”folder.ThenSe-lect“LOANOFFICERINITIALDOCUPLOAD.”(seeappendix4)
Onceyouselectyourdoctypeyouwillbeabletobrowseanduploadyourdocuments.Thereisnoneedtosplitthemout.Keepyouruploadstoasfewasfilesaspossibleandmakesuretheyareallfacingintherightdirection.(Rightsideup)SETTINGYOURPROCESSORItwillbeimperativethatyousetyourprocessoratthistime,ifitwasnotdefaulted,otherwisenoonewillbenotifiedthatthefileisreadyforprocessing.1. Click “Agents”inyour“Status”folder2. Click “assign”nexttoProcessor3. Select theprocessorbyclickingontheappropriatenameNote:IftheLOalwaysusesthesameProcessor,HRcansetthatuptodefault.
SUBMITTOPROCESSINGWithinthe“Status”folder…
1. Click“General”2. Setadatein“Pre-Processing”field
Note:youcansimplytype“T”inthisfieldtopopulatetoday’sdate
CHANGEOFCIRCUMSTANCEWhenaChangeofCircumstanceoccurs,suchaslockingtheloan,thedisclosuredeskwillbeau-tomaticallynotifiedifre-disclosureisneeded.IfitisrequiredthesameesignprocessviaIDSwilloccurNote:Youwillneedtonotifythelockdesk([email protected])ifanychangesoccuronalockedloanincluding,butnotlimitedtopurchasepriceorloanamount.*(seebelow)UPLOADINGCONDITIONSOnceyou’renotifiedthatyourloanisconditionallyapproved,reviewconditionswithyourpro-cessor.Whenyouhavegatheredanyadditionalrequireddocumentation,uploadthemusingtheEDocsorV-Printerseeappendix4.UploadthembyselectingEDocs>Uploaddocumentsthenselectingthe“INITIALPROCESSING”fold-er.ThenSelect“CONDITIONSTOBEREVIEWEDBYPROCESSOR.”(Onceyouselectyourdoctypeyouwillbeabletobrowseanduploadyourdocuments.*Additionalreasonstonotifylockdesk:Ratelockperiod,occupancytype,numberofunits,propertytype,creditscores,LTV/CLTV,loanpurpose,loanprogramname,subjectpropertystate,appraisedvalue,orwaivingescrow.
APPENDICESAppendix1:WorkingwithFNMA3.2files
CAUTION:ifthisisanold3.2filewithsubjectpropertydatathiswillmostlikelytriggerdisclo-suresandwillhavetobecancelled.
IMPORTINGthe3.2toLQBOnceyouhavesavedthe3.2file,youcanthenimporttoLQB.
1. Click “ImportLoans”(LeftNavigationPanelunderLoans)Fromthepop-upwindow:
2. Select“FannieMae”astheImportFormat3. Select “Filesonmycomputer”asDataSourcewhenscreenrefreshes4. Click“Selectfolder…”tobrowse5. Select thelocationofyoursaved3.2file6. Click “OK”7. Select theappropriate“LoanStatus”fromthedropdown
Note: Select“LeadNew”forprospectsthathavenotmetRESPAdefinitionofapplication. Select“LoanOpen”fornewapplications.
8. Select yourdesiredTemplateifapplicable9. Check theboxnexttothedesiredfile10. Click “StartImport”andclick“OK”fromthe
popupmessage
Whenyouclosetheimportwindow,clickontherefreshbuttononyourpipelineviewandyournewloanwillbevisible.Youmaynowclickontheborrower’sname,clickedit,andproceedtoworkingthefile.
Appendix2:MobileDevices
OneofthemostconvenientbenefitsofLQBisthatitisweb-based,andcanbeaccessedfrommultiplemobiledevices.Infact,youwillbeabletousethesamelogincredentials.
• iPhone (LendingQB)• iPad(LendingQBPad)• Androiddevices (LendingQB)
BecauseQuickPricerisavailableonthesedevices,youcanthengetpricinganytime,anywhere.Ifyouareoutoftheoffice,itisweb-basedandyouwillseeprogressinrealtime.Fromyourmobiledevice:
1. ClicktogototheAppStore2. Search“LendingQB”3. LookfortheFreeDownload
Oncedownloadedonyourmobiledevice:
4. GointoLendingQBonyourPC5. Click“RegisterMobileDevice”under“YourSettings”(LeftNavigationPanel)6. EnterNewDeviceName(i.e.“Dan’siPad”)7. Click“GenerateMobileID”button
YourIDwillpopupforyou.Followinstructionstoregisteryourdevice.Note:TheMobileIDisonlyactivefor10minutesandiscasesensitive.Note:Eachdeviceyouwishtousewillneedtoberegisteredseparately.
Onceyouhavesuccessfullyinstalledandregisteredyourdevice,youwillhaveaccessto“MyActiveLoans.”Inaddition,“MyTasks”and“Today’sRates”willbedisplayed.Whilethisisnotintendedtoallowyoutotakeanapplication,youcangetcurrentpricingfornewleads.Forexitingclients,youcheckonloanstatus,executetasksassociatedwithyourpipeline.
Appendix4:VirtualPrinter
Knowingthatyouwillneedtoadddocumentsfromvarioussources,LendingQBhasdevelopedtheVPrintfunctionality.Thisallowsyoutoprint(upload)anydocumentdirectlyintoaloanfile.Thefilemustbein“Loan”status,not“Lead”statustousetheVPrinter.Toprintawebsiteordocumentdirectlyintotheloanfile,completethefollowingsteps:
1. Openthedocumentyouwishtoadd
2. SelectLendingQBastheprinter
Note:TheVPrinterdriversshouldhavebeenpreviouslyinstalled.Ifitnot,youshoulddownloadandinstallthedriverswithinYourSettings>DownloadfromyourLeftNavigationPanel.
3. Click the“Print”button,or“OK”
TheLogintoLendingQBdialogueboxwillappear,andyouwillenteryourUsernameandPassword.Note:YouwillonlyberequiredtologinthefirsttimeyouusetheVPrintfunctioneachday.Uponsuccessfullogin,youwillseethedocumentyouhaveprintedintheLendingQBDropbox.
Youcancontinuetoprintdocuments,addingeachonetotheDropbox.
4. Clickthe“ProcessUploadedFiles”button,oncealldocumentshavebeenuploaded.TheEDocsDropboxscreenwillthenbedis-played.
Note:Youcanalsoaccessthisdropboxfeaturethroughthe“LendingQBDocumentDropbox”shortcut/icononyourdesktop.
5. ClickontheselectApplicationlinktoassociatethedocumenttoaspecificloanfile.
Fromthe“SelectanApplication”window(whereyourcurrentloansaredisplayed)selecttheappropriateloannumber.
Note:Ifthedesiredloanfileisnotdisplayedinthelistofavailableloans,youcanenterinthedesiredsearchcriteriainthe“Searchfor”box.
6. Clickontheborrowername,oncetheloannum-berhasbeenselected.
7. Clickon“selectDocType”toselecttheappropriateDocFolderfromthelist,foreachdocumentuploaded.
8. Chooseyour“DocFolder”whenprompted.
9. Selectcorresponding“DocType”fromthelistofavailabledocumentsinthefolder.
AfterselectingthedocumentyouwillbetakenbacktotheEDocsDropboxscreenwhereyouwillbeabletoenterinadescriptionofthedocument(optional).Repeatsteps7-9foreachdocumentuploaded.
10. Clickthe“Apply”button
WhenthedocumenthassuccessfullyuploadedintoLendingQB,thefollowingdialogueboxwillbedisplayed.
Appendix5:LoanStatusDefinitionsbyDepartment
Ofcoursethereismorethatwilloccurwiththeloanpost-closing.However,fromaLoanOriginatorper-spectiveloanswillgenerallyfollowtheworkflowshownhere.
Astheloanpassesthrougheachdepartment,however,theloanwillchangestatus.BelowisalistoftheLendingQBloanstatusesandtheirdescriptionsbydepartment.LOANORIGINATION
● LeadNew:Thisiswhereleadswillstartandremainuntilitmeetsthedefinitionofapplicationorconvertedtoaloan.
● LoanOpen:Thisrepresentsanopenapplication.Thisisthedefaultloanstatuswhenaloaniscreatedorwhenaleadisconvertedtoaloan.
● Registered:Theloanisregisteredwhentheloanoriginatorclicks“register”withinPML.Thissta-tusindicatesthepricingenginehasbeenrunandaprogram/ratehasbeenselected.Note:Thisdateshouldneverbeenteredmanually,withtheexceptionofbondloans.Note:Itisstronglyrecommendedthatnofilebediscloseduntilithasbeenregisteredsincetheprocessofregisteringauto-populatestermsandfeesnecessaryforaccurateloandisclosure.
● ReadyforDisclosureReview:LO signals Disclosure Desk that file is ready for disclosures.● Pre-Processing:LO sets Pre-Processing date in the “General” screen. Then the Loan Opener
works the file for Corporate.PROCESSING
● Processing:ThisindicatesthefilehasbeenreceivedinprocessingfromtheLoanOpener.
Note:Thiswilllockoriginatorsoutofafile,andwilldictateprocessingqueues.● Submitted:Thisindicatesthefilehasbeensenttogatekeeping.● ConditionReview:Thisindicatesthefilehasbeensentbacktogatekeeping.● SubmittoClosing:Processors enter this date to pop up on Doc Drawer Queue.
LoanOriginatio
nProcessin
gLendingComplian
ceUnderwri
tingClosingand
Funding
LENDINGCOMPLIANCE
● LendingComplianceApproved:Gatekeeper reviews compliance conditions, sets date to signal UW file is ready for them.
● LCResubmitApproved:Lending Compliance signs off on conditions, sets date to signal UW file is ready for them.
UNDERWRITING
● InUnderwriting:Underwritersetsthisdatewhentheybeginunderwritingthefile.Thiswillnoti-fyothersthattheloaniscurrentlybeingworkedon.
● Approved:ThisindicatesthefilewasconditionallyapprovedbyUnderwriting,andissetaftertheUnderwriterhasemailedouttheconditions.ThisloanstatuswillpromptLoanOfficersandProcessorstobegingatheringadditionaldocumentsandsatisfyingconditions.Note:TheapprovedstatusistheequivalenttoCABO's"ApprovedwithConditions”.
● FinalUnderwriting:ThisindicatestheunderwriterhasstartedUnderwritingthefileagainafterapprovalconditionshavebeenreturned.
● CleartoClose:Thisisusedtogatherfinalitemspriortothedocsbeinggenerated.Italsotrig-gerstheProcessorCTCqueue(toorderdocs).
CLOSING
● DocsOrdered:Thisindicatesclosinginstructions have been sent to escrow,attorney,orclosingagent(title).
● DocsDrawn:ThisindicatestheCDhasbeenapprovedanddisclosed to the borrower.● BorrowerAcknowledgesCD:ThisindicatestheCDhasbeenapproved by the borrower.● DocsOut:Thisindicatesclosingdocshavebeensenttotitle.● DocsBack:Thisindicatessignedclosingdocshavebeenreceivedbackfromtitle.
FUNDING/SHIPPING
● FundingConditions:Thisindicatesconditionsarerequiredfromtitlepriortofunding.● Funded:Thisindicatesthewirewasordered.● Recorded:Thisindicatesfundingnumberwasissued.● FinalDocs:Thisindicatesthefulldocpackagehasbeenreceivedfromtitle.● LoanShipped:ThisindicatestheLoandocumentshavebeensenttotheinvestor.
Appendix6:LoanWorkflowandStatuschanges
Loanswillgenerallyfollowthepatternshownhere,however,thestagesbelowwilldemonstratetheac-tualworkflowastheloanmovesthroughthepipeline.
BelowisalistoftheLendingQBloanstatusesandthegeneral10-stepworkflow.1. LOANORIGINATION
● LeadNew:Thisiswhereleadswillstartandremainuntilitmeetsthedefinitionofapplicationorconvertedtoaloan.
● LoanOpen:Thisrepresentsanopenapplication.Thisisthedefaultloanstatuswhenaloaniscreatedorwhenaleadisconvertedtoaloan.
● Registered:Theloanisregisteredwhentheloanoriginatorclicks“register”withinPML.Thissta-tusindicatesthepricingenginehasbeenrunandaprogram/ratehasbeenselected.Note:Thisdateshouldneverbeenteredmanually,withtheexceptionofbondloans.Note:Itisstronglyrecommendedthatnofilebediscloseduntilithasbeenregisteredsincetheprocessofregisteringauto-populatestermsandfeesnecessaryforaccurateloandisclosure.
● ReadyforDisclosureReview:LO signals Disclosure Desk that file is ready for disclosures.● Pre-Processing:LO sets Pre-Processing date in the “General” screen. Then the Loan Opener
works the file for Corporate.2. PROCESSING
● Processing:ThisindicatesthefilehasbeenreceivedinprocessingfromtheLoanOpener.
Note:Thiswilllockoriginatorsoutofafile,andwilldictateprocessingqueues.● Submitted:Thisindicatesthefilehasbeensenttogatekeeping.
3. LENDINGCOMPLIANCE
● LendingComplianceApproved:Gatekeeper reviews compliance conditions, sets date to signal UW file is ready for them.
4. UNDERWRITING
● InUnderwriting:Underwritersetsthisdatewhentheybeginunderwritingthefile.Thiswillnoti-fyothersthattheloaniscurrentlybeingworkedon.
LoanOriginatio
nProcessin
gLendingComplian
ceUnderwri
tingClosingand
Funding
● Approved:ThisindicatesthefilewasconditionallyapprovedbyUnderwriting,andissetaftertheUnderwriterhasemailedouttheconditions.ThisloanstatuswillpromptLoanOfficersandProcessorstobegingatheringadditionaldocumentsandsatisfyingconditions.Note:TheapprovedstatusistheequivalenttoCABO's"ApprovedwithConditions”.
5. PROCESSING
● ConditionReview:Thisindicatesthefilehasbeensentbacktogatekeeping.6. LENDINGCOMPLIANCE
● LCResubmitApproved:Lending Compliance signs off on conditions, sets date to signal UW file is ready for them.
7. UNDERWRITING
● FinalUnderwriting:ThisindicatestheunderwriterhasstartedUnderwritingthefileagainafterapprovalconditionshavebeenreturned.
● CleartoClose:Thisisusedtogatherfinalitemspriortothedocsbeinggenerated.Italsotrig-gerstheProcessorCTCqueue(toorderdocs).
8. PROCESSING● SubmittoClosing:Processors enter this date to pop up on Doc Drawer Queue.
9. CLOSING
● DocsOrdered:Thisindicatesclosinginstructions have been sent to escrow,attorney,orclosingagent(title).
● DocsDrawn:ThisindicatestheCDhasbeenapprovedanddisclosed to the borrower.● BorrowerAcknowledgesCD:ThisindicatestheCDhasbeenapproved by the borrower.● DocsOut:Thisindicatesclosingdocshavebeensenttotitle.● DocsBack:Thisindicatessignedclosingdocshavebeenreceivedbackfromtitle.
10. FUNDING/SHIPPING
● FundingConditions:Thisindicatesconditionsarerequiredfromtitlepriortofunding.● Funded:Thisindicatesthewirewasordered.● Recorded:Thisindicatesfundingnumberwasissued.● FinalDocs:Thisindicatesthefulldocpackagehasbeenreceivedfromtitle.● LoanShipped:ThisindicatestheLoandocumentshavebeensenttotheinvestor.
Appendix7:HowtoAddMultipleBorrowers
Aloanfilemayhavemorethanoneloanapplicationinitdependingonhownon-marriedbor-rowersareapplyingfortheloan.Note:Eachnon-marriedco-borrowermusthaveaseparateloanapplication.
The“Borr/CoborrManagement”toolallowsyoutoaddmultipleborrowerstotheloanfileandmanagethepositionofeachofborrower.Thistoolcanbeaccessedintwoways-fromLoanApplication>BorrowerInfoandfromFile>Borr/CoborrManagement.
Toaddadditionalborrowerstothefile,completethestepsbelow:1. Click the“Borr.Info”linkwithinthe“LoanApplication”foldershownbelow.
2. Click the“AddandSwapco-borrwer”link.
Thiswillopenupthe“Borr/CoborrManagement”screen.
3. Click the“Addnewborrower”buttontoaddaborrowertotheloanfile.
TheBorr/CoborrManagementtoolallowsyoutochangethepositionsofalltheborrowersontheloanfileusingthesefeatures:
• IsPrimary?:ChangethepositionofthePrimaryborrowerbyselectingthisoption.
• Swapborr&spouse:Clickthislinktoswitchthepositionsoftheborrowers.
• Deletespouse:Clickthislinktoremovetheco-borrowerinformationfromtheloan.
• Deletethisborr&spouse:Clickthislinktoremoveaco-signer(s)loanapplication.
Thisfeaturecanalsobeaccessedthroughthe“Borr/CoborrManagement”linkfrominsidethe“File”folder.
Appendix8:SigningElectronicandPrintedDisclosures
EMAILADDRESSESISREQUIREDAnemailaddressisrequiredtobeentered,eventhoughsomebor-rowersdonotuseemail.Pleaseenteryoursastheemailaddressinthe“Borr.Info”screenifnotavailable.Also,eachborrowerwillneedanemailaddressentered,evenifitisthesame.Thisistoallowbor-rowerstoeachsigntheirownsetofdisclosures.Note:Makesureahomephoneisenteredforeachborrowerevenifitistheircell.Thisisusedforsecuritypurposeswhensigningelectronically.SIGNINGMETHODSFORINITIALDISCLOSURES(ElectronicorPhysicalSignature)1.ELECTRONICSIGNATURESOnceyourfilehasbeenapprovedbythedisclosuredesk,theywillsendoutthedisclo-sureselectronicallythroughIDS(thirdpartyprovider).Bothyouandyourborrower(s)willreceiveanemailtoaccessthedocuments.
1. Click thelinkembeddedintheemail2. Login toIDS3. Follow thepromptstocompletetheprocess
Yourborrower(s)willclickonthelinkintheiremailandfollowthesameprocess.Youwillbenotifiedviaemailwhentheyhaveloggedintoreceivethepackage,whenthee-consentisob-tained,andwhentheyhavecompletedsigning.Note:The4506-TandtheBorrowersCertificationandAuthorizationformaredocumentsthatwillrequirewetsignaturesandyourborrowerwillbepromptedtoprintthoseduringthee-signingprocess.Note:somedocumentsaresimplyacknowledgedanddonotneedsigned.Yourborrower(s)mayalsoe-signrightinyouroffice.Afterclickingtheemaillink:
1. Click“CHANGESIGNER”atthetopofthescreen
2. Selectthenameofthesigner3. Entertheborrowersecurityquestions4. Click“ValidateData”5. Consentandagreetothee-signatureagreement
(atthebottomofthescreen)6. Readinstructionsonpop-upandclickOK7. Followpromptstosignthedocuments8. Printdocumentswhenpromptedforitemsthatrequirewetsignatures9. Click“Close”whencompleted
Note:Youwillberequiredtoscrolltothebottomofthescreenbeforeacknowledging.2.PHYSICALSIGNATURES(wetsign)Iftheborrower(s)didnotprovideanemailaddress,theywillreceivethedisclosuresinthemail.Asaresult,theywillberequiredto“wetsign”thedisclosuresandreturnthemtotheBranch.Iftheborrower(s)willbecomingtoyourofficetosign,youmayprintthedocumentsfortheminthefollowingtwoways.
A. FromwithinLQB:1. Select“yourborrower”fromthepipelineview2. Click“edit”3. Click“DocumentPortal”fromtheEDocsfolder(opensIDS)4. Click“Completed”5. Clickontheborrower’sfilename
ThiswillopenaPDFcontainingtheapplicationanddisclosureswhichyoucanprintforyourborrowerstosign.
6. Printthefileonceopened
Note:Ifyourborrower(s)didincludeanemailaddress,butwouldstillprefertosignthedocu-mentsinyouroffice,theymaydosobyaccessingtheiremailandclickingthelink.Note:IftheBorrowerssignedthedocumentswithwetsignatures,thedocumentswillneedtobescannedanduploadedintoLQB.Appendix3:LQBLeadsOnDemand
ThehomepageofOptifinowcanbelaunchedfromCABOrightNavigationBar-seeMarketingOnDemand,orbywww.optifinow.com/openmtg/login.php.Afteraccessing,clickthe“LeadsonDemand”icon. Next,click“+AddLead”intheupperlefthandcornerofthescreen.Note:Ignorethedropdownsandenter“LeadFirstName”and“LeadLastName”Click“AddLead”Anewscreenwillopeninthe“Info/LeadsInfo”tab
Enterthelead’spresentaddress,phonenumber,andemailaddress
Note:Bestpracticeistouseabbreviationforthestate
Clickonthe“LoanInfo”tab&enterinformationinthefollowingsections:
SectionI:BorrowerInformation
Enterbirthdate&co-borrowerinformation(ifapplicable)
Note:Homephone#isrequired&cellisrecommended
SectionII:PropertyInformation&PurposeofLoan
Enterstate(asabbreviation)&selectpurposeofloanfromdropdown
Enterappraisedvalueandpurchaseprice
SectionIII:TypeofMortgage&TermsofLoans
Usingdropdownbox,select“MortgageAppliedFor”andchoosethecorrectloantype
“Property”willbeeither“Primary”or“SecondaryResidenceandInvestment”
Input“Occupied”and“Amortization”
InputLoanAmount,InterestRate,andNumberofMonths
SectionIV:Misc.Info
Thissectionmaybeomitted
Next,Click“Update”
Ifyouarereadytoproceed,click“CreateaLoan”
Note:LeadsonDemandwillpullintoLQBasaloan
EnterLQBUsernameandPasswordinpopupwindowandclick“login”
AscreenwillconfirmthatyouhavecreatedaloaninLQBprovidingwithaloannumber.ThecontactrecordinLeadsonDemandwillbeupdatedfromLQBeachnightandprovidealinktoLQBsoyoumaylogin,ifyouwish.
WhenopeningaloaninLQB,firstuploadthe“CreditAuthorization”andresolvethetaskasso-ciatedwiththeupload,orentertoday’sdateinCustomFields1-20,section10.
Youmayproceedasnormal
Appendix4:InvestorTranslationKey
WehaveusedALIASESwithinthePriceMyLoanfeature.Thisistopro-tecttheidentityofourendinvestorswhenratesaredisplayedtoournon-retailbusinesschannels.
UsethisKeyasneeded:
Batman BB&T
Elektra Everbank
Flash FGMC
Superman Stonegate
Thor TheMoneySource
Cyclops Caliber
WonderWoman WellsFargo
Ant-Man Amerihome
Nightshade Nexbank
Cyborg Chase
DaredevilDitech
PhantomIPacificUnion
