Processing Overview I

Transcription

1 Processing Overview I Alexis Smialkowski National Corporate Trainer Investing in Your Education 2/13/2019 2/13/2019

2 Introduction In this training we explore the necessary information you will need to navigate FT360 and offer instructions on how to complete some of the fundamental tasks on a new loan.

3 Topics Covered in this Training 1. IT Support Requests 2. Installing and Logging into FT FT360 Home Tab 4. Navigating FT Pipeline View Customization 6. Doc Velocity General Overview 7. Downloading Disclosures from the efolder 8. File Labeling Documentation 9. Assigning Documents to the efolder/dv 10. Disclosure Tracking Tool 11. Completing the Intent to Proceed 12. FHA Case Number Assignment/Query/Updates/CAIVRS 13. Verification of Employment 14. The Work Number 15. Verbal Verification of Employment 16. Order a Verification (Other Types)

4 IT/FT360 LOS Support Requests

5 IT/FT360 LOS Support Requests You have three options for support: 1. (Recommended) support request will be immediately placed in our helpdesk system 2. You can submit a support ticket from the support website 3. Call Common reasons to contact support: Technical computer issues Login credentials for any third party services or venders Downloading Encompass/FT360 or DocVelocity software to your computer Correcting an AUS error or incorrect AUS findings Hard Stops that you cant figure out how to cure in FT360

6 Installing and Logging into FT360

7 Accessing and Installing FT360 FT360 will need to be installed on your computer FastTrac must be downloaded and installed from Internet Explorer Installation software can be located at the following URL: 1. install.zip 2. Open/Save zip file 3. Run the RunMe file inside the zip file follow the onscreen instructions 4. Contact for help with installation and your initial username and password combination

8 Accessing and Installing FT During the installation process you will be prompted for a Client ID code: Client ID =BE Upon completion of the software installation you will be prompted to enter a username and password which IT will provide

9 FT360 Home Tab

10 FT360 Home Tab The Home tab is a centralized landing page for viewing information. The first two columns can be customized to personal preferences. Modules can be added, removed, re-located with the exception of the Admin Whiteboard The third column is reserved by Ellie Mae for important system messages, updates and knowledge base

11 Navigating FT360

12 Pipeline Tab White or Light Gray Active Loans that the logged-in user can open and update Pink Loans with an adverse status Dark Grey Active loans that the logged-in user can view in Read-Only but not update Light Blue A loan that is open on the Loan tab

13 Loan Folders The status of the loan will determine the loans folder 1. All Folders contains all loans regardless of status 2. Adverse Loans contains loans that have been withdrawn or denied 3. Closed Loans contains loans that have been closed or funded 4. My Pipeline contains loans that are active and have been disclosed (Except TBD loans) 5. Prospects contains prospects which are active and have not been disclosed

14 Pipeline Icons Pipeline Icons can be clicked one to view more details information without opening the file

15 Loan Workspace The loan workspace will look the same on every loan with the exception of the data being presented 1. Header 2. Logs and Alerts 3. Forms, Tools and Services 4. Work space screens (This is where loan/processing information can be entered or updated based on information accessed) Keyboard Shortcuts 1. Help = F1 2. Current Date = Ctrl+D 3. Go-To-Field = Ctrl+G 1. Enter Field ID

16 Pipeline View Customization

17 Pipeline View Customization Users will have one or more default views to choose from. Initial views are determined by the administrator and predetermined based on your user role within FT360 As a FT360 user you have the ability to create custom views and add additional columns by right clicking on the column header to open the Customize Columns popup Click on the Customize Colums popup to open options for Selected Columns

18 Pipeline View Customization As a FT360 user you have the ability to create custom views and columns search or select the desired column to add or remove 1. Click OK 2. Click Save

19 Pipeline View Customization 1. Determine if you want to update the current view or Save as a new Pipeline View option 2. Click Save

20 Doc Velocity General Overview

21 DocVelocity Introduction Introduction to DocVelocity DocVelocity, called DV for short, is a web-based paperless solution designed to simplify the mortgage loan origination experience. It creates a paperless environment by allowing you to collect, review and share your mortgage loan documents electronically. It is able to recognize some documents and automatically categorize/index them, saving time and expense. DocVelocity Training There are multiple ways to gain access to DV Training. 1. Open OKTA User Portal, From the Apps page click on the Training & Resources tab, click the PRMG University Training Portal app, from the left side of the screen, click on the DocVelocity (DV) link 2. Follow the link chedule.html 3. Reach out to your Ops Center Processing Staff Trainer Mindi Bartley National Production Support Manager MBartley@PRMG.NET Office: Direct: Heather Wildman National Production Support HWildman@PRMG.NET Direct: Kyra Spurgeon National Production Support KyraS@PRMG.NET Direct:

22 DocVelocity Introduction 4 Adding DocVelocity Folder ID Column to your Pipeline View: 1. Right click on any column header and choose Customize Columns 2. Type DocVelocity Folder ID in the search box and click Find 3. Make sure you have the box checked & click on OK at the bottom right of the pop-up screen 4. The column will be put into your pipeline view all the way over to the right of your screen 5. Highlight the DocVelocity Folder ID column header and move it to the left with your cursor so it is next to the loan number so it will be easy to see on your screen

23 DocVelocity Introduction Adding DocVelocity Folder ID Column to your Pipeline View: 6. Don t forget to save your pipeline view 6 Note: Add a DV Folder ID Column to your pipeline view to determine if your loan is DV or non-dv. If there is a Folder ID in the Folder ID Column, your loan is DV and you will need to follow all the DV instructions mentioned in this training material.

24 Downloading Disclosures from the efolder

25 Downloading Disclosures from the efolder 1. Select 2. Access 3. Retrieve Downloading Disclosures

26 Downloading Disclosures from the efolder 4. Confirm 5. Save 6. Refresh Downloading Disclosures

27 Wet signed Disclosures Borrowers may elect to wet sign their disclosures. Once the documents are returned by the borrower, they can be: 1. Retrieved from the efolder if the borrower uploaded them to the borrower portal 2. If disclosures download to the unassigned file manager, highlight the disclosures and choose Auto Assign. Disclosures may auto assign if the system is able to read the bar code on the disclosure (clarity is key here) 3. If disclosures do not auto assign, they will need to be placed in their corresponding serialized place holder for non-dv loans or uploaded to DV and labeled correctly

28 File Labeling Documentation

29 File Labeling Documentation 1. Documents are serialized 2. The document number corresponds directly to the UW condition number 3. For example if the condition reads Misc:PTCD Invoices, the document number for the invoices will also be 3706-Misc:PTCD Invoices.

30 Assigning Documents to the efolder/dv

31 Assigning Documents to the efolder/dv For documents or disclosures which have not been assigned to a place holder, they will remain in the unassigned file manager needing to be assigned to a serialized place holder Assign credit/income/asset/property documents to the correct serialized placeholder (if DV loan, assign direct in DV) If place holder is not visible in a non-dv loan, it will need to be added by clicking on the New Document icon

32 Creating New Document Placeholders 1. In FT360 Borrower Loan file, click on the efolder 2. To create a new Document Placeholder, click on the New Document Icon 3. Click OK to add a new document 4. Click on the Blue Select icon to open Select Document Template popup 5. Type in a search word into the filter field 6. Highlight selection 7. Click OK and then close pop up NOTE: New Document placeholder will appear in Documents

33 Disclosure Tracking Tool

34 Disclosure Tracking Tool Disclosure tracking provides Disclosure timelines Tracking dates Disclosure history Latest disclosure details 1. It is extremely important to stay in compliance with TRID and RESPA regulations 2. Click the Tools tab in FT Click Disclosure Tracking

35 Disclosure Tracking Tool Disclosure Tracking Tool 5 sections: 1. Compliance Timeline: Calculates important time periods according to TRID and RESPA. All fields with the exception of Estimated Closing Date are read only and automatically calculated 2. LE Tracking: Use this section to track when the initial and revised Loan Estimate is sent and received by borrower 3. CD Tracking: Use this section to track when the initial and revised Closing Disclosure is sent and received by the borrower 4. Other Tracking: Use this section to type or select the date on which the Affiliated Business Disclosure, CHARM booklet, Special Info Booklet, HELOC Brochure, etc. are sent to the borrower 5. Disclosure History: History of each disclosure sent to a borrower

36 Disclosure Tracking Detail To view the details of a specific disclosure record, double click on the disclosure package line in section 5 to open. Use the tabs across the top to view Details, Reasons or edisclosure Tracking for the chosen disclosure package When you are done viewing a specific disclosure record detail click OK to exit

37 Completing the Intent to Proceed

38 Completing the Intent to Proceed From the Tools tab, Disclosure Tracking screen, open the initial disclosure package sent to the borrower by double clicking on the disclosure line in Section 5 Once the Actual Received date fields are completed, it will open up the Intent to Proceed section for editing Check the Intent to Proceed Box Fill in the correct Intent to Proceed date based on the date the borrower signed the Intent to Proceed disclosure Complete the Received by and Received Method fields Click OK Fields will auto populate to the LE pg 1 Intent to Proceed section

39 FHA Case Number Assignment/Query/Updates/CAIVRS

40 FHA Case Number Assignment If your Ops Center has a setup team, setup will normally obtain the request prior to file opening, typically the FHA case number and CAIVRS will be provided if using a setup team. 1. Check the file for documents in the serialized placeholders:4749 FHA Case Number Assignment and 1815 Credit:CAIVRS 2. Should the FHA Case # and CAIVRS not be available, please refer to the workflows and procedures regarding FHA Case # and CAIVRS. 3. Do not order FHA Case Number Assignment from within FT360 as the FHA Case Number confirmation from the FT360 screen does not have all the required information for your UW. Please order FHA Case Numbers direct from FHA Connection.

41 FHA Mortgagee ID FHA Mortgagee ID 1. Locate your branch s FHA Mortgagee ID from the FHA Mortgagee ID Number lookup table-obtain from BM 2. Select the FHA Mortgagee ID Number which corresponds with your branch 3. Enter the FHA Mortgagee ID Number in the Case Number Assignment Screen Note: For new branches which have not been assigned an FHA Mortgagee ID Number please connect with QC for further assistance

42 FHA Connection Login 1. Log onto the FHA Connection website: ndex.cfm 2. Enter your FHA Connection username and password combination

43 Single Family FHA 1. Click Single Family FHA 2. Click Single Family Origination

44 Single Family Origination 1. Click Case Processing 2. Click Case Number Assignment

45 Establish a New Case 1. Click Establish a New Case Enter Property Address Information HECM Case Remains NO unless loan is a Reverse Mortgage Enter Borrower Data 2. Click Send Note: Borrower identification information is validated overnight against government records Use Holds Tracking or complete an FHA Case Query the next business day to determine if all borrowers passed validation

46 Case Number Assignment 1. Enter all applicable information to Case Number Assignment screen 2. Originator ID is your branch s FHA Mortgagee ID 3. Populate the ADP code and manually add this Code to the end of the FHA Case # in the FT360, Forms tab, FHA Mgmt screen 4. Don t forget to indicate PUD/Condo as applicable 5. Enter correct year completed field 6. Click Send

47 New Case Confirmation 1. Print the results into the serialized placeholder and label it 4749 FHA: Case Number Assignment 1815: Credit: CAIVRS FHA puts a 24 hour hold to validate borrower(s) A final FHA Case Query result showing borrowers passed validation placed into 4750 FHA: Case Query

48 FHA Case Query 1. From the FHA Case Processing Screen, Click Case Query 2. Choose FHA Case Query to locate existing FHA Case Assignment if you obtain a duplicate address error when attempting to order a new FHA Case Number 3. Choose FHA Case Query to print out the borrower validation confirmation after the FHA Case Assignment has been ordered

49 FHA Case Query 1. Select the Field Office from the dropdown menu 2. Type the FHA Case Number or Type the Borrower s SSN (Social Security Number) / TIN (Taxpayer Identification Number) 3. Click Send

50 FHA Case Query Results 1. If you are completing an FHA Case Query to confirm Borrower Validation from prior FHA Case Assignment, then search by FHA Case Number then Click Send 2. Confirm all Borrowers passed SSN Validation 3. File FHA Case Query to 4750 FHA: Case Query

51 FHA Case Query Results 1. If you are completing an FHA Case Query to locate an existing FHA Case Assignment from a duplicate address error, then search by borrower SSN and select the correct Borrower from the List 2. Click Send

52 Case Query Record Detail 1. Click the Sponsor/Agent Name: hyperlink 2. Call the lender of record to determine how they would like the FHA Case transfer request handled to PRMG 3. Click Close

53 FHA Streamline 1. Click Establish a New Case 1. Enter Property Address Information 2. HECM Case Remains NO 3. Enter Borrower Data 2. Click Send

54 FHA Mortgagee ID FHA Mortgagee ID 1. Locate your branch s FHA Mortgagee ID from the FHA Mortgagee ID Number lookup table 2. Select the FHA Mortgagee ID Number which corresponds with your branch 3. Please enter the FHA Mortgagee ID Number in the Case Number Assignment Screen Note: For new branches which have not been assigned an FHA Mortgagee ID Number please connect with QC for further assistance

55 FHA Streamline The existing FHA Case No. can be access though FHA Connection through a case query lookup or by looking at a copy of the existing NOTE

56 FHA Streamline 1. Select FHA to FHA Refinance Type Streamline 2. Is it a Cash-Out Refinance No 3. Enter the Prior FHA and prior REO cases: Enter case number of previous case

57 FHA Streamline Results Confirmation Note: Borrower identification information is validated overnight against government records Use Holds Tracking or FHA Case Query the next business day to determine if all borrowers passed validation

58 Borrower/Address Change 1. You may need to correct your borrower s name or the property address 2. Under the Case Processing screen, choose Borrower/Address Change option 3. Enter the FHA Case Number 4. Correct applicable fields 5. Click Send 6. Changes may result in revalidation of borrower

59 Update an Existing Case 1. You may need to update an existing case number assignment to correct the FHA Mortgagee ID, LO info, property type, etc 2. Under Case Processing, Case Number Assignment screen, click Update an Existing Case 3. Enter the FHA Case Number 4. Click Send 5. Update information accordingly on screen 6. Click Send

60 CAIVRS Login 1. Log onto the FHA Connection website: ex.cfm 2. Enter your FHA Connection username and password combination

61 CAIVRS Request 1. Click Single Family FHA Select Case Processing 2. Click CAIVRS Authorization

62 CAIVRS Request 1. Select SSN from the dropdown menu and enter the Social Security # (SSN) for each borrower 1. Enter the Lender ID (Branch FHA Mortgagee ID) 2. For VA Loans, enter the Corp VA Lender ID and choose Veterans Affairs from the Drop Down 3. Select the Agency from the Drop Down Typically HUD FHA Single Family 2. Click Send

63 CAIVRS Results 1. Print the results into the serialized placeholder. It should be labeled 1815 Credit:CAIVRS 2. CAIVRS results are also located at the bottom of the FHA Case Number Assignment an additional copy of the FHA Case Number Assignment can be printed to the 1815 Credit:CAIVRS placeholder as an alternative

64 Verification of Employment

65 Written Verification of Employment Written Verification of Employment (WVOE) Form 1. Complete name and address of employer 2. Complete name (never loan originator) and address of lender/requestor 3. Signature, Title and Date of Requestor (never loan originator) 4. Applicant Information 5. Borrowers Authorization (disclosure to be attached) 6. Applicant s date of employment 7. Present Position with employer 8. Probability of employment Employer should complete or indicate if this information may not be completed due to company s policy 9. Current Gross Base Pay and Payroll Frequency Additional salary information. If over-time, bonus or commission applies, ensure box 14 regarding continuance is completed) 10. Remarks: If the employer makes remarks to the WVOE then, ensure this section is carefully reviewed as there may be pertinent information and/or clarification 11. Employer Signature, Title, Phone, and Date WVOE was completed Note: Access VOE form from FT360 Borrower file, Forms Tab, VOE option. White outs are not allowed on VOE form

66 The Work Number

67 The Work Number Third Party Verifier (TPV) Services -> Order Verifications 1. Select The Work Number 2. Click Submit 3. Enter Login Credentials 4. Choose who you are ordering the Report for 5. Choose Employment only or Employment plus income 6. Choose Current or Prior employer 7. Select an Employer in the Drop down (no salary key required if ordering direct in FT360) 8. Upload Borrower Certification & Authorization disclosure in the Browse tab 9. Click Order 10. File in 3222 Income: Written VOE placeholder

68 Account Activation The Work Number Once support sets you up with access, you will receive two activation s. Your message will come from Verifier ID You will receive two s From: VerifierID Sent: (Date, Time) To: (Your name here) Subject: The Work Number(r) Access Username From: VerifierID Sent: (Date, Time) To: (Your name here) Subject: Account Password -- The Work Number(r) Password Please use the following Username and Password to access The Work Number. Username: (Username is case sensitive) Password: (For security purposes, we will send your Password in a separate .) Web Access: Your Username and Password give you access to our website at PLEASE DO NOT REPLY TO THIS . If you have questions regarding your membership with The Work Number, please contact twninfo@equifax.com for assistance... You are either logging in with a newly created account or recently requested that your password on The Work Number be reset. Here is your temporary password: uedyvr1b6lag To use your Work Number account: 1. Go to The Work Number web site: 2. Click the blue "Log In" button. 3. Enter the username you received in the previous ... Thank you for using The Work Number service!

69 Verbal Verification of Employment

70 Verbal Verification of Employment Fannie Mae and HUD require this to be completed 10 days prior to loan consummation. Employer profile can be located in the DataVerify report Income: Reverse search (if reverse search was unavailable please complete a Google or 411 search and place results in 3216 Income: 411 Employer Reverse Search placeholder Third Party Verifier (TPV) can be used if the current as of date is within 35 days of closing and the verified on date is within 10 days of loan closing pull TPV with employment info only Only Branch Ops personnel are eligible to complete the VVOE (no Sales/Marketing personas) The Verbal Verification of Employment (VVOE) must contain the following completed information: 1. Independently obtain the phone number of the borrowers employer 2. If the company provides an alternate phone number for human resources, the alternate telephone needs to be sourced in the comments field of the VVOE and include which active employee provided the information 3. Verify the borrower s Current Status (actively employed) and their Job Title 4. Document the employer contact date, name and title of the employer contact verifying the employment information for borrower (this individual may not be a family member) 5. Complete the Lender Verifier Information section 6. Utilize the VVOE form authorized for your Region/Branch Note: Please ensure comments are clear in the event steps need to be repeated by QC/auditor.

71 Order a Verification (Other Types)

72 Ordering a Verification From FT360, Forms Tab, choose the type of verification you would like to order VOD: Verification of deposit VOE: Verification of Employment VOL: Verification of Liability VOM: Verification of Mortgage VOR: Verification of Rent Complete selected form Check box for See attached borrower s authorization on signature line Click Print icon Highlight selected verification form and click Add Print or add to efolder to /fax

73 Questions?