1.1 Loss Mitigation Overview for Servicers of Fannie Mae Loans

Transcription

1 LQC FT Portal Training Course 1. Introduction 1.1 Loss Mitigation Overview for Servicers of Fannie Mae Loans Notes: Welcome to Fannie Mae's Loss Mitigation Overview. This tutorial is designed to assist Fannie Mae servicers with identifying appropriate loss mitigation strategies and correctly reporting the workout to Fannie Mae. 1.2 Introduction

2 Notes: 1.2 Introduction Lenders with high volumes of file requests may choose to invest in an integrated electronic submission method known as Lender Direct (B2B). For lenders with small to medium file request volumes, the Loan Quality Center s File Transfer Portal is the best option. The LQC FT Portal is far more efficient than paper file submission, providing a secure portal, reducing the risk of exposing non-public information, providing cost savings to lenders by reducing paper file production and delivery costs, and decreasing by three to five days the initial processing time for file submissions. Only the LQC FT Portal is explained in this elearning course. Instructions provided within this course will explain what the portal is and provide Fannie Mae lenders the criteria and directions for using it. The LQC FT Portal is made available to all lenders that meet Fannie Mae's criteria for its use, including completion of this requisite training course. If you are not already registered to use the LQC FT Portal, completing this course will provide instructions on how to register, access, and properly use the portal. This course also serves as refresher training for currently registered users. 1.3 Objectives

3 Notes: 1.3 Objectives Lenders with high volumes of file requests may choose to invest in an integrated electronic submission method known as Lender Direct (B2B). For lenders with small to medium file request volumes, the Loan Quality Center s File Transfer Portal is the best option. Fannie Mae is phasing out paper file submission. The LQC FT Portal is far more efficient than paper file submission, providing a secure portal, reducing the risk of exposing non-public information, providing cost savings to lenders by reducing paper file production and delivery costs, and decreasing by three to five days the initial processing time for file submissions. Only the LQC FT Portal is explained in this elearning course. Instructions provided within this course will explain what the portal is and provide Fannie Mae lenders the criteria and directions for using it. The LQC FT Portal is made available to all lenders that meet Fannie Mae's criteria for its use, including completion of this requisite training course. If you are not already registered to use the LQC FT Portal, completing this course will provide instructions on how to register; access and properly use the portal. This course also serves as refresher training for currently registered users. 1.4 Objectives - Assessments

4 Notes: 1.4 Objectives - Assessments To be able to properly utilize the LQC FT Portal to transmit loan files to Fannie Mae, it is important that you learn the information presented in this course. We will assess your understanding and retention of the course content through knowledge checks presented after each section in the course and a final quiz presented at the end of the course. 2. Overview 2.1 LQC FT Submission Notes: 2.1 LQC FT Submission The LQC FT Portal is Fannie Mae s file transfer protocol service for lender submission of low to medium volumes of loan files selected for post purchase file review. The portal is available for loan file submissions Monday through Saturday from 9 am to 12 midnight Eastern time. Lenders using the LQC FT Portal must adhere to specific guidelines and requirements. Requisites for using the portal are detailed during this course.

5 2.2 LQC FT Portal Overview Scenario Notes: 2.2 LQC FT Portal Overview Scenario To provide you a high-level overview of how the LQC FT Portal is used by an approved lender, the following scenario will walk you through the steps of the process. In this scenario, you are a lender wanting to use the LQC FT Portal to submit loan files. 1. You start by completing this Loan Quality Center File Transfer Portal elearning course. 2. Upon completion of the elearning course, contact your company s Technology Manager Administrator to grant you access to the portal. If you are not sure who is your Technology Manager Administrator, please check with your manager or contact your Fannie Mae account team. 3. Ask your Technology Manager Administrator to update your Fannie Mae user ID by granting you the LQC FT Portal role in the File Transfer Portal application. 4. Once your user ID has been updated, you will receive an from Fannie Mae that includes your lender name code that must be used in the naming conventions of files you upload to the portal. The lender name code is usually an abbreviated version of your actual lender name.

6 2.3 LQC FT Portal Overview Scenario2 Notes: 2.3 LQC FT Portal Overview Scenario2 5. You receive a loan file request from Fannie Mae informing you that three loan files have been selected for a post-purchase full file review. Usually, you will receive file requests through Fannie Mae s Quality Assurance System or QAS. 6. You must then prepare the three selected loan files for submission to the Loan Quality Center. For each of the three loan files, you will consolidate all the related loan documentation into a single PDF file. Specifically, you will create three PDF files - one for each of the three loans. Requirements and the naming convention for these files will be discussed in detail after this overview scenario. 7. After preparing the PDF files, you upload them to the LQC FT Portal. You access the portal using your Fannie Mae ID and password. Each of the three PDF files is uploaded individually. LQC FT Portal submission cautions and guidelines will be discussed later. For right now, we want you to get the big picture. 8. In addition to the three PDF files, you must also prepare and submit a manifest file to the Loan Quality Center. The manifest is a simple text file renamed into a '.mnf' format that lists all the loan files that you have uploaded prior to 12 midnight Eastern Time (ET) on a given day. The manifest file is the inventory of the three loan files that

7 you have uploaded. Specific manifest file requirements and naming conventions will be discussed after this scenario. Later in the course we ll discuss checking the transmission status of uploaded files on the portal. 9. At this point, the loan files that you uploaded are not yet available to the Loan Quality Center. Within three business days of your upload, the files will undergo a back end process that matches the uploaded loan files to the manifest file and indexes and loads them into QAS. 10. After three business days you may check QAS to confirm that your files were received by the Loan Quality Center. Once available in QAS, it becomes the system of record for the loan and ALL activities related to the loan file. mnf file prep (Slide Layer)

8 3. Knowledge Check LQC FT Portal Use Process Flow Notes: 3. Knowledge Check LQC FT Portal Use Process Flow Let's take a quick assessment of your knowledge of the big picture or high-level process flow for gaining access to the LQC FT Portal and preparing loan files for upload via the portal. Click the Next button to answer the one question in this Knowledge Check. 3.2 Sequence Tasks (Sequence Drag-and-Drop, 100 points, 1 attempt permitted)

9 Correct Order Contact your company s Technology Manager Administrator to update your Fannie Mae user ID to include LQC FT Portal access. Receive a lender name code. Upload loan files to the LQC FT Portal. Upload the manifest file to the LQC FT Portal. Confirm that files have been received at the Loan Quality Center via QAS. Feedback when correct: You correctly ordered the tasks. Feedback when incorrect: Sorry, you have incorrectly ordered the tasks. The correct order is: Contact your company s Technology Manager Administrator to update your Fannie Mae user ID to include LQC FT Portal access. Receive a lender name code. Upload loan files to the LQC FT Portal. Upload the manifest file to the LQC FT Portal.

10 Confirm via QAS that files have been received at the Loan Quality Center. Correct (Slide Layer) Incorrect (Slide Layer)

11 Review (Slide Layer) 3.3 Results Slide (Results Slide, 0 points, 1 attempt permitted) Results for 3.2 Sequence Tasks

12 Result slide properties Passing Score 100% 4. Naming Convention and Submission Requirements 4.1 Loan File Naming Convention and Submission Requirements Notes: 4.1 Loan File Naming Convention and Submission Requirements Now that you have a high-level overview of the process flow involved in submitting loan files via the LQC FT Portal, let s discuss some specifics of performing the task. We will begin with identifying the naming convention for loan files. The LQC FT Portal File Preparation Quick Reference Guide provided under the Resources link summarizes the loan file naming convention requirements detailed in this section. The guide may be downloaded and used as a job aid. Click Next to continue.

13 4.2 Loan File Naming Convention Notes: 4.2 Loan File Naming Convention It is critical that you know how to properly name loan files for uploading to the LQC FT Portal. Failure to properly name your loan files and adhere to upload requirements will result in you receiving a transmission error on the portal and your loan file not being uploaded. Additionally, reoccurring transmission errors may result in revocation of your LQC FT Portal access. The file name displayed is an example of a properly named loan file. The loan file name must begin with the 10-digit Fannie Mae loan number associated with the loan file request, followed by an underscore. The loan number and underscore is followed by your lender name. Your lender name is the abbreviated version of your actual lender name that was assigned to you by the Loan Quality Center during your portal registration. It is important that your lender name appears in your loan file name exactly (i.e. it is case sensitive) as it was assigned during the registration process. The last part of the file name is a pdf extension which indicates the file is in an Adobe Acrobat format. Remember that before you upload a loan file to the portal, all documentation related to the loan must be consolidated into a single PDF file. The.pdf extension is automatically added to the file name when it is saved as a

14 PDF. Next we will discuss the naming convention and requirements for the manifest file. Highlight FM Loan # and Underscore (Slide Layer) Highlight Lender Name (Slide Layer)

15 Highlight.PDF (Slide Layer) 4.3 Manifest Naming Convention and Submission Requirements Notes: 4.3 Manifest Naming Convention and Submission Requirements In addition to uploading your PDF loan files, you must also upload a manifest file. The manifest file is an inventory that lists all the loan files uploaded to the portal on a given day. In regard to file submissions via the LQC FT Portal, a day ends at 12 midnight Eastern Time (ET). Therefore, the number of loan files transmitted prior to midnight ET on a given day must match exactly to

16 the manifest file content. For example if you upload three loan files, the manifest file must include three rows which identify each individual loan file you uploaded. Here is an example of how an uploaded loan file should be listed on a manifest file inventory. The manifest file name must begin with your assigned, case sensitive lender name received at registration from Fannie Mae. Your lender name is followed by an underscore. The next portion of the manifest file name is the text LoanDocuments and should appear exactly as shown here on the screen. The text LoanDocuments is followed by an underscore. The following string of digits in the manifest file name indicates the date and approximate time of the manifest file transmission. In this example, the manifest file was transmitted on June 1, 2013 at 15 seconds beyond 12:30 PM ET. The date and time has to be in a 4-digit year; 2-digit month; 2-digit day; hour, minute, second format. The system needs all these pieces of the date and time stamp, but you can default the seconds to 00. Please note that time should be entered using a 12-hour clock, NOT 24-hour military time. Therefore, an entry of 12:30 could indicate AM or PM, but entering AM or PM is not required. The manifest file name must have a.mnf extension. You must create the manifest file in either Notepad or WordPad. Notepad and WordPad are basic text-editing software that can be accessed from your Start menu, Programs, and Accessories. These are the only programs that can be used to create the

17 manifest file. Do not use Microsoft Word to create the manifest file as it may include formatting information that cannot be interpreted by our back-end processing systems. Both Notepad and Wordpad default the file extension to a text or.txt file format, which must be replaced with the.mnf extension before it is uploaded to the portal. A common mistake is that users do not replace the.txt extension; they just add the.mnf to the end. This creates a.txt.mnf extension that will be rejected by the portal. This is the most common error made by new users to the portal. Click NEXT to continue. Highlight Lender Name and Underscore (Slide Layer)

18 Highlight LoanDocuments and Underscore (Slide Layer) Date and Time String (Slide Layer)

19 4-digit Year highlight (Slide Layer) 2-digit Month highlight (Slide Layer)

20 2-digit day (Slide Layer) hour (Slide Layer)

21 minute highlight (Slide Layer) second highlight (Slide Layer)

22 .mnf highlight (Slide Layer) 4.4 Manifest Content Requirements Notes: 4.4 Manifest Content Requirements Here is an image of a manifest file that was created in Notepad. Note first the name of the manifest file. The naming convention follows exactly the manifest file naming convention explained in the previous screen. The body of the manifest file lists five entries representing five loan files that have been uploaded to the portal. Loan files uploaded by midnight ET on a

23 given day constitute the same day. In this example, BankOfABC is telling Fannie Mae through their manifest file that these are the five loan files that they uploaded to the portal on May 20, 2013 (the date indicated in the manifest file name). Notice the 10-digit Fannie Mae loan number followed by a comma in each entry. These would be the loan numbers of each loan you have uploaded to the LQC FT Portal. Next in an entry row is the loan file name, entered following precisely the naming convention format discussed. That convention is: digit Fannie Mae loan number 2. An underscore 3. Your lender name (exactly as assigned during the registration process, including case) 4. A PDF file extension. The three trailing commas are a LQC FT Portal system requirement, which helps to distinguish one file from the next. Even if you are uploading one file, make sure those three trailing commas are included. Another sample manifest file is provided under the Resources menu. You can save the sample file as a template to edit and create your own manifests. Click NEXT to continue.

24 Highlight Manifest File Name (Slide Layer) Highlight body of manifest (Slide Layer)

25 Highlight FM Loan num and comma (Slide Layer) Highlight files' name (Slide Layer)

26 Highlight trailing commas (Slide Layer) 4.5 Loan File Caveats Notes: 4.5 Loan File Caveats In addition to these naming convention guidelines, there are other caveats to naming your loan files. For instance, file names can contain characters A-Z, numbers 0-9 and an underscore; however, they must not contain special characters such as parentheses ( ), brackets [ ], braces { }, the at or a space. Each loan file (including all related loan documentation) must be submitted as a single PDF file. The PDF file size for any single loan file cannot exceed 100 MB. Each

27 uploaded file has a 100 MB limit. Recent versions of Adobe Acrobat may reduce a PDF file size. We recommend checking your version of Adobe Acrobat to ensure you have the latest version and encryption methods available. If the loan file cannot be reduced to meet the 100 MB size limitation, contact the Loan Quality Center at LQC underscore for guidance on how to split the file into smaller PDFs. The LQC FT Portal requires that each loan file be loaded one at a time up to a maximum of 350 MB per submission. Use the Add button to select the files for upload, including the manifest file. Add no more than 30 files to stay under the maximum upload size of 350 MB, then click the Upload button to submit. If you still have files to upload, start a new upload. You will see a screen and a checkbox asking for acknowledgement that no more than 30 files can be uploaded at one time. Submissions outside these guidelines will result in failure on the portal where you will receive an error message and/or hinder the ability for the Loan Quality Center to reconcile your loan file submission. You must make the necessary corrections before you can successfully upload your loan files. Click NEXT to continue. 4.6 LQC FT Portal Submission Cautions

28 Notes: 4.6 LQC FT Portal Submission Cautions Now that you are aware of the naming conventions and requirements for your loan files and manifest file. Let s discuss some cautions for portal submissions. Loan file documents that are missing from the initial file submission and subsequently requested by Fannie Mae (known as missing or trailing documents) may not be uploaded to the LQC FT Portal; they must be submitted via QAS or by to Document_Management@FannieMae.com. If you upload an individual document through the LQC FT Portal, it would not be processed and your outstanding missing document request would not be cleared. Loan files that contain processing or data errors will not be processed and the file submission requests will continue to age until the Loan Quality Center receives the information in a correct format. The loan file PDF must adhere to the proper naming convention. The manifest file must contain an inventory of all loan files uploaded prior to midnight ET on the same day and must be uploaded as a.mnf file on the portal. Loan files that are password-protected, unreadable, or contain illegible data will be rejected. When you package the PDF, make sure you do not put a password on the PDF or encrypt it because Fannie Mae will not be able to extract it. There is no need to worry about transmitting non-public personal information (NPI) because your login ID to the portal adheres to all the security parameters of Fannie Mae s technology. File delivery via the portal is through a secure platform. The LQC FT Portal File Preparation Quick Reference Guide provided under the Resources link summarizes the loan file naming convention requirements detailed in this section. The guide may be downloaded and used as a job aid. Click NEXT to continue.

29 5. Knowledge Check Loan File and Manifest Naming Conventions and Requirements Notes: 5.1 Loan File and Manifest Naming Conventions and Requirements This second Knowledge Check is an opportunity to assess your comprehension of the loan file and manifest naming convention and requirements. It is critical that you adhere to loan file and manifest naming conventions and requirements. Submissions outside of these guidelines will result in upload failure on the portal or the Loan Quality Center s inability to reconcile your submission; possibly an issuance of a non-compliance repurchase letter from Fannie Mae for the outstanding file request; or maybe even result in the revocation of privileges to use the LQC FT Portal. After selecting the best response to a question, click the Submit button to check your answer. You will receive a response to your selection and may then click the Continue button to go to the next question. After you ve responded to all questions, you will receive your Knowledge Check Results and directions for continuing the course. Click the Next button to get started.

30 5.2 Multiple Choice File Name Format (Multiple Choice, 11 points, 1 attempt permitted) Correct Choice Manifest file X Loan file Manifest file content Feedback when correct: You selected the correct response. Feedback when incorrect: You did not select the correct response. This is an example of a loan file name. The loan file naming format is <Fannie Mae Loan Num>_<Lender Name>.<PDF file extension>

31 Review (Slide Layer) Correct (Slide Layer)

32 Incorrect (Slide Layer) 5.3 Multiple Choice Upload Status (Multiple Choice, 11 points, 1 attempt permitted) Correct Choice Upload Successful X File Rejected Feedback when correct:

33 A manifest file ending in '.txt.mnf' is not a valid format for the portal. When using Notepad or WordPad to create a manifest file, make sure you rename the file to change the extension from '.txt' to '.mnf'. Feedback when incorrect: A manifest file ending in '.txt.mnf' is not a valid format for the portal. When using Notepad or WordPad to create a manifest file, make sure you rename the file to change the extension from '.txt' to '.mnf'. Zoom (Slide Layer) Correct (Slide Layer)

34 Incorrect (Slide Layer) Review (Slide Layer) 5.4 Multiple Choice Upload Status (Multiple Choice, 11 points, 1 attempt permitted)

35 Correct Choice Feedback Upload Successful The manifest file would not successfully upload because the trailing commas at the end of the manifest file content are missing. The three trailing commas are a LQC FT Portal system requirement which helps to distinguish one file from the next. Even if you are uploading one file, make sure those three trailing commas are included. X File Rejected The manifest file would not successfully upload The trailing commas at the end of manifest file content are missing. The three trailing commas are a LQC FT Portal system requirement which helps to distinguish one file from the next. Even if you are uploading one file, make sure those three trailing commas are included.

36 Incorrect (Slide Layer) Correct (Slide Layer)

37 Zoom (Slide Layer) Review (Slide Layer) 5.5 Multiple Choice Upload Status (Multiple Choice, 11 points, 1 attempt permitted)

38 Correct Choice Feedback X Upload Successful There are no errors in the manifest file name or content. File Rejected There are no errors in the manifest file name or content. Correct (Slide Layer)

39 Incorrect (Slide Layer) Zoom (Slide Layer)

40 Review (Slide Layer) 5.6 Multiple Choice Upload Status (Multiple Choice, 11 points, 1 attempt permitted) Correct Choice Feedback Upload Successful The upload would be rejected because 'LoanDocuments' is misspelled in the manifest file name. The manifest file naming format is <LenderName>_<LoanDocuments><YYY

41 YMMDDHHMMSS><.MNF file extension>. X File Rejected The upload would be rejected because 'LoanDocuments' is misspelled in the manifest file name. The manifest file naming format is <LenderName>_<LoanDocuments><YYY YMMDDHHMMSS><.MNF file extension>. Incorrect (Slide Layer)

42 Correct (Slide Layer) Zoom (Slide Layer)

43 Review (Slide Layer) 5.7 Multiple Choice Upload Status (Multiple Choice, 11 points, 1 attempt permitted) Correct Choice Feedback Upload Successful The fourth entry in the manifest file content has an error. The Fannie Mae loan numbers do not match. The loan file numbers must match exactly. X File Rejected The fourth entry in the manifest file

44 content has an error. The Fannie Mae loan numbers do not match. The loan file numbers must match exactly. Incorrect (Slide Layer) Correct (Slide Layer)

45 Zoom (Slide Layer) Review (Slide Layer) 5.8 T/F Requirements (True/False, 11 points, 1 attempt permitted)

46 Correct Choice True X False Feedback when correct: When you package the PDF, do not put a password on the PDF or encrypt it because Fannie Mae will not be able to extract it. There is no need to worry about transmitting NPI or non-public personal information because the portal provides data security. Feedback when incorrect: When you package the PDF, do not put a password on the PDF or encrypt it because Fannie Mae will not be able to extract it. There is no need to worry about transmitting NPI or non-public personal information because the portal provides data security.

47 Correct (Slide Layer) Incorrect (Slide Layer)

48 Review (Slide Layer) 5.9 T/F Guidelines (True/False, 11 points, 1 attempt permitted) Correct Choice True X False Feedback when correct:

49 Missing/Trailing documents may not be uploaded to the LQC FT Portal; they must continue to be provided through QAS - the preferred method - or by . Feedback when incorrect: Missing/Trailing documents may not be uploaded to the LQC FT Portal; they must continue to be provided through QAS - the preferred method - or by . Correct (Slide Layer) Incorrect (Slide Layer)

50 Review (Slide Layer) 5.10 Results Slide (Results Slide, 0 points, 1 attempt permitted) Results for 5.2 Multiple Choice File Name Format 5.3 Multiple Choice Upload Status

51 5.4 Multiple Choice Upload Status 5.5 Multiple Choice Upload Status 5.6 Multiple Choice Upload Status 5.7 Multiple Choice Upload Status 5.8 T/F Requirements 5.9 T/F Guidelines Result slide properties Passing Score 100% 6. Demonstration 6.1 LQC FT Portal Demonstration Notes:

52 6.1 LQC FT Portal Demonstration Now that you are aware of guidelines for preparing loan and manifest files for submission via the LQC FT Portal, the next section of the course provides instructions on uploading these files to the Portal. 6.2 File Transfer Portal - Login Screen Notes: 6.2 File Transfer Portal - Login Screen Our demonstration of uploading your loan files to the LQC FT Portal starts here with the File Transfer Portal login screen. Keep in mind that the steps are a demonstration of using the application. To begin, you will enter your login credentials provided by Fannie Mae. Upon approval to use the LQC FT Portal, use your Fannie Mae user ID and password to access the portal. Your password is concealed for security purposes when you enter it in the Password field. Note: Your personal company user ID and password will not work. For this example, ABC_LQC FTP is the Fannie Mae User ID entered. Asterisks (not the actual password characters) appear in the Password field. Click the Log In button to continue.

53 6.3 File Transfer Portal - Recently Submitted Transaction Screen Notes: 6.3 File Transfer Portal - Recently Submitted Transaction Screen The first screen that is displayed is the Recently Submitted Transactions screen. Let s discuss the options available to you from this screen. From the Recently Submitted Transactions screen, you can initiate the process for uploading a new file by clicking the New button, or you can search for previously uploaded files by clicking the Search button. For now, we will continue our demonstration by covering the steps to upload a new file and then explain how to search for a file that has already been uploaded. To initiate the process to upload a file to the LQC FT Portal, click the New button. The LQC QAS Loan File Upload drop-down menu will display.

54 NUC>QAS Loan... Dropdown (Slide Layer) 6.4 File Transfer Portal - Submit New LQC, QAS Loan File Upload Transaction(s) Screen Notes: 6.4 File Transfer Portal - Submit New LQC, QAS Loan File Upload Transaction(s) Screen Click the LQS>QAS Loans File Upload drop-down menu option and the Submit New LQC, QAS File Upload Transaction(s) screen will display. Your loan file and manifest file are uploaded from this screen. Remember each individually uploaded file has a 100 MB maximum file size limitation. The LQC FT Portal requires that each loan file be loaded one at a time up to a maximum of 350 MB per submission. Let s discuss what you see on the Submit New LQC, QAS File Upload Transaction(s) screen. Clicking the Add button will display a file window to allow you to select which files you want to upload. Once you have uploaded files, the status of the upload will display in the Uploaded Files Info panel on the screen.

55 Clicking the Back button at the bottom of the screen will take you back to the Recently Submitted Transactions screen. Click on the Add button and the Choose File to Upload dialogue box will display. From this dialogue box, browse to the location of the file that you want to upload. After you ve found and selected the file, click the Open button and the file will display on the Submit New NUC, QAS File Upload Transaction(s) screen and the Upload button will also appear. If you have additional files to upload, click the Add button and repeat the previous steps to add each individual file. Keep in mind that you are always required to upload a manifest file in addition to the loan files to inform Fannie Mae of the loan files that you uploaded on a given day. The manifest file does not have to be uploaded at the same time as the loan files, but it must be uploaded prior to midnight Eastern Time on the same day that loan files are uploaded. The manifest file is added and uploaded in the same manner as loan files, using the Add and Upload buttons. Click the Upload button on the screen to continue. 6.5 File Transfer Portal - Uploaded File Status Notes: 6.5 File Transfer Portal - Uploaded File Status As files are uploaded to the portal, a Done status will display under the file name. This means the system has found the file you uploaded and has processed it. If the file uploads successfully to the LQC FT Portal, an Upload Successful status will display in the Uploaded Files Info panel along with the Transaction ID and file name. It is important that you understand that an Upload Successful status only indicates successful upload to the Portal. It does not indicate the file has been successfully received by the Loan Quality Center. The Loan Quality Center will receive your loans within three business days of the time you upload the files. Upon receiving the files, the first thing the Loan Quality Center will do is pull down and reconcile the loan files with the

56 manifest file to make sure everything is in sync and that there are no errors or discrepancies. Then they will index the loan files. 6.6 File Transfer Portal - Errors Notes: 6.6 File Transfer Portal - Errors It is important that we talk about a couple of errors you may receive if you do not name your files correctly. Just as the system gives you a status of files uploaded successfully, you will be given a status in the Uploaded Files Info panel on unsuccessful uploads as well. In this example, there has been an attempt to upload two files. The system actually saw the files and processed them both. Notice that Done appears below each of the files indicating that they have been processed. But, if you look at the file status for the first file, it shows a File Rejected status with an explanation of the file having been rejected because it contains invalid characters. A close analysis of the file name reveals that between the 9 and the 1 there is a space. The file could not upload because of this space which is an invalid character. To remediate this, rename the file by removing the space and re-upload the renamed file to the portal. Now let s diagnose the second file in this example. Although Done appears below the file name on the left side of the screen indicating that the system has processed the file and Upload Successful appears in the Status column, there is an error in this file. Files uploaded to the LQC FT Portal cannot contain special characters in the file s naming convention (i.e., character). character is valid for other applications that use the portal, but it is an invalid character for the LQC FT Portal workflow process. Although may result in a successful upload status, it is not allowed by the downstream system process that reconciles uploaded files to the Loan Quality Center. The attempted downstream reconciliation process would result in an error; therefore, use is prohibited in the

57 naming of the files. The same steps taken to remediate the first file in this example would be taken to remediate this file. In this case, remove from the file name when renaming it. Click NEXT to continue. 6.7 File Transfer Portal - File Naming Error Notes: 6.7 File Transfer Portal - File Naming Error The only other error you might see is related to the file type. The loan file must have a.pdf extension and the manifest file must have a.mnf extension. If you try to upload any other file type, such as a.txt file, you will receive an error for invalid file type. Next, we will cover instructions for performing searches in the portal for uploaded transactions.

58 6.8 File Transfer Portal - Search Notes: 6.8 File Transfer Portal - Search Let s walk through the steps that you would take to perform a search for file upload transactions. The Recently Submitted Transactions screen is the first screen that appears when you log into the portal. Click the Search button on the screen. The Search Results screen will appear. Notice the Find Transaction and Search options in the upper left corner of the screen. You can look for a transaction on the Recently Submitted Transaction screen, or enter the transaction ID for a recent upload in the Search field and then click the Search button to display the search results. This screen shows what search results might look like. Along with the transaction ID and uploaded file name, the file size and uploaded date are provided for each file upload. The Result File and Available Date fields are not used by the portal so they will be blank. The Downloaded Date and User ID fields only contain information when a user has viewed a previously uploaded transaction. Although there are a number of tabs on the search results screen, for purposes of the LQC FT Portal, we are only concerned with the Completed tab. Clicking on the

59 Completed tab displays the completed inventory of all uploads that you have submitted. The Uploaded File name is a hyperlink to the uploaded files. You have now been provided requirements and instructions for uploading files to the LQC FT Portal. Before you can use the portal for loan file submissions, you must be approved by the Loan Quality Center. LQC FT Portal Registration is discussed in the next section. If you or your organization is already registered to use the portal and you are completing this course as refresher training, you are not required to go through the portal registration section. You may bypass the next section and skip to the final quiz by clicking the Bypass Portal Registration button. If you are completing this course as a requisite to use the LQC FT Portal to submit loan files and gain access to the Loan Quality Center File Transfer Portal, you must continue to the LQC FT Portal Registration section. To continue to the next section click the Next button. Find Transaction (Slide Layer)

60 Search Results (Slide Layer) Completed Tab (Slide Layer)

61 6.9 File Transfer Portal - Search 6.10 File Transfer Portal - Search

62 6.11 File Transfer Portal - Search 7. LQC FT Portal Registration 7.1 How to Register for the LQC FT Portal Notes: 7.1 How to Register for the LQC FT Portal Once you have completed this training, contact your company s Technology Manager Administrator and ask him/her to update your Fannie Mae user ID to add access to the LQC FT Portal role under the File Transfer Portal application. Once the Administrator has updated your user ID and Fannie Mae has provided your company s lender name for use with the file naming conventions, then you are ready to begin using the portal with your Fannie Mae user ID and password.

63 Certain process and operational matters should be taken into consideration when you use the LQC FT Portal. We ll wrap the course with a discussion of those. Click NEXT to continue. 7.2 Preparing for Use - Process Considerations Notes: 7.3 Preparing for Use - Process Considerations Loan files requested by Fannie Mae for post-purchase review must be submitted within 30 days. Failure to respond in that timeframe may lead to an automatic repurchase request. As you begin using the LQC FT Portal, you may have an error here and there so allocate enough time in your submission process to make any necessary corrections. Allocate three business days from the time of your LQC FT Portal submission for the loan file to reach Fannie Mae s QAS. QAS is your check and balance to ensure the file made it to the Loan Quality Center. It is highly recommended that your company grant portal access to more than one staff member so that there is always someone available who can access the portal.

64 Failure to Respond (Slide Layer) Processing Errors (Slide Layer)

65 Loan Reach FM (Slide Layer) QAS (Slide Layer)

66 7.3 Preparing for Use - Operational Considerations Notes: 7.4 Preparing for Use - Operational Considerations If you are not currently using QAS, please make it a priority to get signed up. QAS is the only system that will give you confirmation that the loan file made it to the Loan Quality Center. For information, contact your Fannie Mae customer account team or access the QAS page on our website. Questions about setup in QAS can be directed to qas_requests@fanniemae.com. Getting back to LQC FT Portal tips, remember to package each loan file into a single PDF file for upload to the LQC FT Portal. One consolidated or clump PDF should contain all loan documents for one loan file, unless you have first contacted the Loan Quality Center at LQC underscore for guidance on how to split the file into smaller PDFs. PDFs cannot contain security passwords, digital certificates or certifying signatures. The portal is a securitized platform and therefore encryption and added security of the PDF files is not necessary -in fact, the system cannot process secured PDF files. Create a manifest file that includes the loan inventory for full file submissions uploaded on the same day. If you upload four files on a given day, then you would really be uploading five because you would need to include one manifest file that would list an inventory of the four loan files uploaded. Remember, the LQC FT Portal File Preparation Quick Reference Guide available under the Resources link provides tips for preparing your files for upload to the portal.

67 7.4 Preparing for Use - Operational Considerations Notes: 7.5 Preparing for Use - Operational Considerations Remember that a Successful Upload status indicates that the file has been successfully uploaded to the portal only. Downstream processing can take up to three business days for loan files to become visible in QAS. Once files are visible in QAS, QAS becomes the system of record and activities related to the loan will occur in QAS, not the LQC FT Portal. Uploading missing or trailing documents on the LQC FT Portal is strictly prohibited. Any missing documents would need to be uploaded into QAS and not through the portal. A final knowledge assessment is next. Click Next to begin the final quiz.

68 8. Final Quiz 8.1 Final Assessment Notes: 8.1 Final Assessment The quiz consists of ten questions pertaining to any portion of the course content and will help you remember the information presented in this course. After selecting the best response to each question, click the Submit button to check your answer. You will receive a response to your selection and may then click the Continue button to go to the next question. After you ve responded to all questions, you will receive your Quiz Results and be given directions for continuing. Click the Next button to get started. 8.2 Matching Drop-down File Format (Matching Drop-down, 10 points, 1 attempt permitted)

69 Correct <Fannie Mae Loan Num>_<Lender Name>.<PDF file extension> <LenderName>_<LoanDocuments><YYYYMMD DHHMMSS>.<MNF file extension> <Fannie Mae Loan Num>,<Fannie Mae Loan Num>_<LenderName>.<PDF file extension>,,, Choice Loan File Manifest File Manifest File Content Feedback when correct: You selected the correct response. Feedback when incorrect: Loan File format is <Fannie Mae Loan Num>_<Lender Name>.<PDF file extension> Manifest File format is <LenderName>_<LoanDocuments><YYYYMMDDHHMMSS>.<MNF file extension>

70 Manifest File Content format is <Fannie Mae Loan Num>,<Fannie Mae Loan Num>_<LenderName>.<PDF file extension>,,, Correct (Slide Layer) Incorrect (Slide Layer)

71 Review (Slide Layer) 8.3 T/F Split PDF (True/False, 10 points, 1 attempt permitted) Correct Choice True X False Feedback when correct:

72 Individual loan files exceeding 100 MB may not be uploaded. If you cannot reduce the loan file to less than the 100 MB size limitation using the latest version of Adobe Acrobat, you must contact the Loan Quality Center at for guidance on how to split the file into smaller PDFs. Feedback when incorrect: Individual loan files exceeding 100 MB may not be uploaded. If you cannot reduce the loan file to less than the 100 MB size limitation using the latest version of Adobe Acrobat, you must contact the Loan Quality Center at for guidance on how to split the file into smaller PDFs. Correct (Slide Layer)

73 Incorrect (Slide Layer) Review (Slide Layer) 8.4 MC Error Processing (Multiple Choice, 10 points, 1 attempt permitted)

74 Correct Choice Feedback Trans ID 6985 The correct loan file naming format is <Fannie Mae Loan Num>_<Lender Name>.<PDF file extension>. In this file, the underscore after the loan number is missing. The file would not be processed. Trans ID 7368 and 6989 Trans ID 6990 and 6983 All of the above The correct loan file naming format is <Fannie Mae Loan Num>_<Lender Name>.<PDF file extension>. In both transactions, the Lender name and preceding underscore are missing. The file would not be processed. These file names contain special characters. Each upload would result in a file rejected status because the file names contain invalid characters. There are errors in the naming format

75 for all of the files. The loan file naming format is <Fannie Mae Loan Num>_<Lender Name>.<PDF file extension>. X None of the above None of the listed files would be processed because each contains an error in the naming format. The loan file naming format is <Fannie Mae Loan Num>_<Lender Name>.<PDF file extension>. Incorrect (Slide Layer)

76 Incorrect (Slide Layer) Incorrect (Slide Layer)

77 Incorrect (Slide Layer) Correct (Slide Layer)

78 Zoom (Slide Layer) Review (Slide Layer) 8.5 MC Upload Status (Multiple Choice, 10 points, 1 attempt permitted)

79 Correct Choice Feedback Upload Successful A manifest file ending in '.txt.mnf' is not a valid format for the portal. When using Notepad or WordPad to create a manifest file, make sure you rename the file to change the extension from '.txt' to '.mnf'. X File Rejected A manifest file ending in '.txt.mnf' is not a valid format for the portal. When using Notepad or WordPad to create a manifest file, make sure you rename the file to change the extension from '.txt' to '.mnf'.

80 Incorrect (Slide Layer) Correct (Slide Layer)

81 Zoom (Slide Layer) Review (Slide Layer) 8.6 T/F Military Time (True/False, 10 points, 1 attempt permitted)

82 Correct Choice True X False Feedback when correct: Use 12-hour (not military) time for the time string; a.m. and p.m. are irrelevant. Feedback when incorrect: Use 12-hour (not military) time for the time string; a.m. and p.m. are irrelevant.

83 Correct (Slide Layer) Incorrect (Slide Layer)

84 Review (Slide Layer) 8.7 MC Analysis (Multiple Choice, 10 points, 1 attempt permitted) Correct Choice The lender will have no problem since a manifest file sent on Tuesday lists all seven of the files that were uploaded. The lender will have a problem because a manifest file listing all seven of the loan files was not included in the first submission of five files uploaded on Monday. X The lender will have a problem because a manifest file listing all loan files

85 uploaded on the same day prior to midnight Eastern Time was not uploaded on the same day that the loan files listed in the manifest were uploaded. Feedback when correct: A manifest file listing all loan files uploaded prior to midnight Eastern Time on a given day must be uploaded on the same day that the loan files are uploaded. In regard to LQC FT Portal submissions, a day ends at midnight Eastern Time. Feedback when incorrect: A manifest file listing all loan files uploaded prior to midnight Eastern Time on a given day must be uploaded on the same day that the loan files are uploaded. In regard to LQC FT Portal submissions, a day ends at midnight Eastern Time. Correct (Slide Layer)

86 Incorrect (Slide Layer) Review (Slide Layer) 8.8 T/F Password Protection (True/False, 10 points, 1 attempt permitted)

87 Correct Choice True X False Feedback when correct: When you package the pdf, make sure you do not put a password on the pdf or encrypt it because Fannie Mae will not be able to extract it. There is no need to worry about transmitting NPI because the portal is a securitized platform. Feedback when incorrect: When you package the pdf, make sure you do not put a password on the pdf or encrypt it because Fannie Mae will not be able to extract it. There is no need to worry about transmitting NPI information because the portal is a securitized platform.

88 Correct (Slide Layer) Incorrect (Slide Layer)

89 Review (Slide Layer) 8.9 T/F One-to-One (True/False, 10 points, 1 attempt permitted) Correct Choice True X False Feedback when correct:

90 One loan file is equivalent to one PDF file. Documentation for a single loan must be consolidated into a single PDF file. Documentation for multiple loans cannot be consolidated into a PDF file. Feedback when incorrect: One loan file is equivalent to one PDF file. Documentation for a single loan must be consolidated into a single PDF file. Documentation for multiple loans cannot be consolidated into a PDF file. Correct (Slide Layer) Incorrect (Slide Layer)

91 Review (Slide Layer) 8.10 T/F Trailing Documents (True/False, 10 points, 1 attempt permitted) Correct X Choice True False Feedback when correct:

92 Uploading missing/trailing documents to the LQC FT Portal is not permitted and they will not be processed. Individual documents uploaded to the portal would not follow the missing document process to clear an outstanding missing document request. Missing/trailing documents should be submitted through QAS (preferred) or . Feedback when incorrect: Uploading missing/trailing documents to the LQC FT Portal is not permitted and they will not be processed. Individual documents uploaded to the portal would not follow the missing document process to clear an outstanding missing document request. Missing/trailing documents should be submitted through QAS (preferred) or . Correct (Slide Layer)

93 Incorrect (Slide Layer) Review (Slide Layer) 8.11 Results Slide (Results Slide, 0 points, 1 attempt permitted)

94 Results for 8.2 Matching Drop-down File Format 8.3 T/F Split PDF 8.4 MC Error Processing 8.5 MC Upload Status 8.6 T/F Military Time 8.7 MC Analysis 8.8 T/F Password Protection 8.9 T/F One-to-One 8.10 T/F Trailing Documents

95 Result slide properties Passing Score 85% Success (Slide Layer) Failure (Slide Layer)

96 9. Closeout 9.1 Objectives Notes: 9.1 Objectives Thank you for completing this Loan Quality Center s File Transfer Portal elearning course. You should now be able to utilize the LQC FT Portal and be cognizant of the guidelines for properly using the Portal to submit loan files.

97 10. Course Evaluation 10.1 Course Evaluation Notes: Thank you for completing this course. We are always striving to improve our training courses and your feedback helps us do that. Please complete the course evaluation on the next slide to let us know how we're doing Please rate the following aspects of the training. (Likert Scale, 0 points, 1 attempt permitted)

98 Statement Poor Below Average Above Excellent Average Average Content organization Ease of access and navigation Usefulness of interactions, attachments, and links to promote learning Length of time allotted to cover the content Clarity of audio Overall quality of the course 10.3 Please indicate your level of agreement with the following statements. (Likert Scale, 0 points, 1 attempt permitted)

99 Statement Strongly Somewha Neither Somewha Strongly Disagree t Disagree t Agree Agree This course met my training needs and expectations. I will be able to transfer what I have learned to my everyday job functions. My personal knowledge of the subject has increased. After completing the course, I am able to perform the learning objectives stated at the beginning of the course How likely are you to recommend this course to a colleague? (Pick One, 0 points, 1 attempt permitted)

100 Choice Very likely Neither likely nor unlikely Somewhat likely Somewhat unlikely Very unlikely 10.5 How did you hear about this training? (Pick One, 0 points, 1 attempt permitted) Choice Recommended by my management Recommended by my colleague Fannie Mae business web site This training is mandatory at my company

101 Other 10.6 How much industry experience do you have? (Pick One, 0 points, 1 attempt permitted) Choice Less than one year One to five years Six to 10 years 11 to 15 years 16+ years 10.7 What additional training topics would you like us to offer? (Essay, 0 points, 1 attempt permitted)

102 10.8 Results Slide (Results Slide, 0 points, 1 attempt permitted)

103 Results for 10.2 Please rate the following aspects of the training Please indicate your level of agreement with the following statements How likely are you to recommend this course to a colleague? 10.5 How did you hear about this training? 10.6 How much industry experience do you have? 10.7 What additional training topics would you like us to offer?

104 10.9 Certificate Notes: 11. lightbox 11.1 Navigation Tips Notes: 1.5 Navigation Tips Before we begin, rollover the arrows to review a few tips for navigating through the

105 course.