Digital Docs, Inc. The Quality Time Company. User's Guide

Transcription

1 Digital Docs, Inc. The Quality Time Company User's Guide

2 DIGITAL DOCS, INC Disclaimers and Notices DISCLAIMERS AND NOTICES Copyrights: Copyright 2000 Digital Docs, Inc. All rights reserved. Trademarks: DIGITAL DOCS is a registered trademark of Digital Docs, Inc. Microsoft, Windows, Windows 95, Windows 98, Windows NT, and Intellimouse are registered trademarks of Microsoft Corp. InstallShield and UninstallShield are registered trademarks of InstallShield Software Corporation. Produced by: Digital Docs, Inc Alpha Road Dallas, TX (877) Revision date: January 18, 2000 USER'S GUIDE PAGE i

3 Table of Contents TABLE OF CONTENTS Chapter 1 - Introduction Overview About this book What you need to know Style conventions Starting DIGITAL DOCS The Right-Click Menu Chapter 2 - Setting Up About this chapter About your company Title and Escrow Companies Adding title and escrow companies Changing the information about a title/escrow company Deleting title and escrow companies Setting defaults Preferences Lenders Adding a new lender Entering branch offices Entering closers and funders Entering hazard and loss payees Entering payment recipients Entering document recipients Entering trustees Changing information about a lender Changing information about a supporting company Deleting a lender Deleting a supporting company Default trustee Assignment plans To create an assignment plan: To edit an assignment plan To rename an assignment plan To delete an assignment plan Sending a test file Setting up to run on a network Chapter 3 - Creating a Document Order About this chapter Creating a document order Entering loan information Entering information about the loan program and lender Entering general loan information Loan Modifications Entering detailed loan information VA Funding Fees FHA Mortgage Insurance Fees Private Mortgage Insurance Fees Buydown Information ARM Information USER'S GUIDE PAGE TOC - i

4 INTRODUCTION Checking your work Entering property information Describing the property Construction loans Describing the seller Check your work Entering borrower information Check your work Entering closing information Entering general information Entering escrow information Entering fee information Entering closing instructions To select attached documents Check your work Return to the main screen Changing a document order Copying a document order Renaming a document order Deleting a document order Chapter 4 - Ordering Your Documents About this chapter Printing the document order Transmitting your order USER'S GUIDE PAGE TOC- ii

5 INTRODUCTION CHAPTER 1 - INTRODUCTION Overview Chapter 1 - Introduction Digital Docs, Inc. has developed DIGITAL DOCS to help its customers order loan closing documents accurately, completely, and professionally. After you've registered and setup DIGITAL DOCS, ordering closing documents using DIGITAL DOCS is a simple, three-step process: 1. Enter information about the loan, the property, the borrower(s), and the closing. While entering information, you will select the title and escrow companies, the lender, the broker, the trustee, and other recurring information from pre-determined lists which you manage. 2. Send the information to Digital Docs, Inc, electronically. 3. Digital Docs, Inc returns the checked and completed closing documents to you. About this book This book provides instructions for using DIGITAL DOCS and contains four chapters: Chapter 1, Introduction gives a brief description of DIGITAL DOCS and describes the organization and conventions used in the book. Chapter 2, Setting Up provides step-by-step instructions for entering information that describes the lenders, funders, title/escrow companies, and trustees with whom you usually do business. Chapter 3, Creating a Loan provides step-by-step instructions for entering the transaction-specific information needed for the closing documents, including information about the loan itself, the borrower, the property, and the closing. Chapter 4, Ordering the Closing Documents describes checking the information and transmitting the document order to Digital Docs, Inc. What you need to know This book presumes that you already know how to operate Microsoft Windows and Windows-based programs. You should be familiar with how to use a mouse to make selections and initiate actions. You should also be familiar with using Windows dialog boxes and their associated features such as text entry boxes and drop-down lists. This book also presumes that you have a working knowledge of mortgage banking procedures and that you already know how to prepare closing documents. If you are unfamiliar with any of these requirements, Digital Docs, Inc. suggests that you consult industry literature. Style conventions This book uses certain typographic conventions: When you must press a single specific key on your keyboard, the text will read "...press..." followed by the key you should press. For example: "...then press Enter before continuing..." USER'S GUIDE PAGE 1-1

6 INTRODUCTION - STARTING DIGITAL DOCS If you must press two keys simultaneously, the keys will be connected with a plus sign. For example: "...press the Alt+F1 keys to..." Additionally, specific information you are to enter is displayed in Bold font: type example, then press Enter. Command prompts (the information you see in the Status Bar at the bottom of the program window) will appear in the following type face: Command Prompts References to DIGITAL DOCS program objects such as dialog box names and buttons are displayed in Bold font: Click on the Title/Escrow tab References to chapters and sections in this book are in italic font: Please refer to Chapter 3 - Creating a Loan Starting DIGITAL DOCS To start DIGITAL DOCS: 1. Open the Windows Start menu, then open the Programs menu, then open the Digital Docs sub-menu and select the Digital Docs item. Alternatively, if a shortcut to DIGITAL DOCS has been placed on your desktop, double-click the shortcut. 2. While it is loading, DIGITAL DOCS will display its opening splash screen: Figure 1-a: Digital Docs Splash Screen 3. When DIGITAL DOCS is finished loading, it will close the splash screen and display the tip-of-the-day: USER'S GUIDE PAGE 1-2

7 INTRODUCTION - STARTING DIGITAL DOCS Figure 1-b: Digital Docs Tip If you prefer not to see these tips each time you start DIGITAL DOCS, deselect the Continue to show Tips checkbox at this time. To later restore the tips, open the right-click menu in the main screen and select the Hints item. 4. Click, and DIGITAL DOCS will display its main screen: Button bar Status bar Figure 1-c: Digital Docs Main Screen All of DIGITAL DOCS' functions are available by clicking on the button bar at the left of the screen. However, when you first start DIGITAL DOCS you'll find that most of the buttons are displayed in gray. This is because DIGITAL DOCS operates sequentially. As you progressively enter information about a closing, DIGITAL DOCS will make each succeeding function button available, starting with the button and continuing on down to the button. An Important Note: DIGITAL DOCS will display reminders in the Status bar at the bottom of the window of what each button, text entry box, and checkbox does. When you're uncertain of what DIGITAL DOCS expects, float your cursor over the item in question and look at the Status bar. USER'S GUIDE PAGE 1-3

8 The Right-Click Menu INTRODUCTION - THE RIGHT-CLICK MENU DIGITAL DOCS is complete with an online help system and helpful financial calculators that are available from the Main Screen. You gain access to these through the right-click menu. To use the right-click menu: 1. Return to the Main Screen (if you're not already there). 2. Float your cursor over the DIGITAL DOCS icon in the center of the screen, then click your right mouse button. 3. DIGITAL DOCS will open the right-click menu: Figure 1-d: Right-Click Menu Select the Help Topics item to open DIGITAL DOCS' help file. Select the How to Use Help item for instructions on using DIGITAL DOCS' help file. Select the Hints item to display the Tip of the Day. Select the Financial Calculator item to display DIGITAL DOCS' built-in business calculator. Select the Loan Calculations item to see the values and the Escrow analysis for the currently selected loan. Note: The Loan Calculations item is only available if a loan is currently selected. Select the About item to display DIGITAL DOCS' opening splash screen, which includes the version number of DIGITAL DOCS you are using. USER'S GUIDE PAGE 1-4

9 SETTING UP CHAPTER 2 - SETTING UP About this chapter Chapter 2 - Setting Up This chapter shows you how to enter information about all the companies with whom you and your lenders usually do business: title and escrow companies, lenders, brokers, funders, closers, payment and document recipients, hazard/loss payees, investors, and trustees. As you prepare your loan documents, DIGITAL DOCS will ask you for the names of the companies to use for each of these functions, and will list them in drop-down list boxes from which you'll select the desired name. DIGITAL DOCS will then automatically fill in the forms with the address and other information associated with the name of the company you select. DIGITAL DOCS is provided with a selection of lenders, loan programs and products already programmed into its database by Digital Docs, Inc. While you cannot change or remove these selections, you can enter new lenders, change the information for the lenders you've entered, and delete lenders you've entered from your list at any time and as often as you wish. This chapter also shows you how to enter information that describes your most frequently used loan types and purposes, lien positions, and reminder notes such as "Provide wood infestation report". DIGITAL DOCS will automatically insert this information for you, so that you don't need to reenter the information for each loan. You can change this information on a loan-by-loan basis. Note: Before you continue, be sure that you've registered DIGITAL DOCS. About your company First, you'll tell DIGITAL DOCS about your company. The information you enter here will be inserted into the appropriate places on the closing documents. 1. Click the button to open the Utilities button bar (shown in Figure 2-a, to the left), then click the button. 2. DIGITAL DOCS will open the Program Setup dialog to the User Info tab: Figure 2-a: Utilities Button Bar Figure 2-b: User Info Tab 3. Enter the appropriate information into each text entry box on the User Info tab. 4. Click. USER'S GUIDE PAGE 2-1

10 SETTING UP - TITLE AND ESCROW COMPANIES Title and Escrow Companies You can add new title and escrow companies, you can change the information about existing title and escrow companies, and you can remove title and escrow companies with whom you no longer do business. You can store an unlimited number of names of title and escrow companies in DIGITAL DOCS. Wherever DIGITAL DOCS requires the name of a title or an escrow company, it will automatically display the names of all the companies you've stored in a drop-down list box from which you can select the desired name. Adding title and escrow companies 1. Click the button to open the Utilities button bar (see Figure 2-a, above), then click the button. 2. DIGITAL DOCS will open the Program Setup dialog to the User Info tab. 3. Select the Title/Escrow tab, and DIGITAL DOCS will display the information describing the first title/escrow company in the list: Button bar Figure 2-c: Title/Escrow Tab 4. Click the button in the button bar to add a new company. 5. DIGITAL DOCS will clear the fields on the Title/Escrow tab. Note: DIGITAL DOCS has not erased the previously displayed title/escrow company it has simply displayed a blank record. 6. Enter the name, address, and other information describing the new title/escrow company into the fields. 7. Click the button again to save your changes and add another company. Alternatively, click to save your changes and close the dialog, or click to close the dialog without saving your changes. Changing the information about a title/escrow company 1. Click the button to open the Utilities button bar, then click the button. 2. DIGITAL DOCS will open the Program Setup dialog to the User Info tab. 3. Select the Title/Escrow tab. USER'S GUIDE PAGE 2-2

11 SETTING UP - TITLE AND ESCROW COMPANIES 4. DIGITAL DOCS will display the information describing the first title/escrow company in its database: Button bar Figure 2-d: Title/Escrow Tab 5. Click the navigation buttons in the button bar to find the company whose information you wish to change: Go to the previous record Go to the next record Go to the first record Go to the last record Figure 2-e: Navigation Buttons 6. Click the (Edit record) button, then make the changes. Alternatively, simply type in the changes. 7. Click the (Post edit) button, and DIGITAL DOCS will record the new information, leaving the dialog open to continue updating other companies. Alternatively, click the changes and close the dialog. Note: button, and DIGITAL DOCS will save your To erase your changes, click the (Cancel edit) button, and DIGITAL DOCS will return all the fields to their condition before you started editing, leaving the dialog open. Or, click the button, and DIGITAL DOCS will close the dialog without saving your changes. Deleting title and escrow companies 1. Click the button to open the Utilities button bar, then click the button. 2. DIGITAL DOCS will open the Program Setup dialog to the User Info tab. 3. Select the Title/Escrow tab. 4. DIGITAL DOCS will display the information describing the first title/escrow company in its database. 5. Click the navigation buttons in the button bar to find the company you wish to delete. USER'S GUIDE PAGE 2-3

12 SETTING UP - SETTING DEFAULTS 6. Click the (Delete record) button. 7. DIGITAL DOCS will ask you to confirm this command: Figure 2-f: Confirm Delete Title/Escrow Company Message Box 8. Click to delete the company or to return to the Title/Escrow tab without deleting the company. Setting defaults You can set which values DIGITAL DOCS automatically inserts into each dialog. This feature can be very helpful when entering ordering a number of closing documents that are similar to each other. To adjust the default values: 1. Click the button to open the Utilities button bar, then click the button 2. DIGITAL DOCS will open the Program Setup dialog to the User Info tab. 3. Select the Module Defaults tab: Sub-tabs Figure 2-g: Loan Data Tab 4. There are four sub-tabs on the Module Defaults tab, arranged vertically along the right-hand side of the window: Use the Loan Data sub-tab to set the default values for the type and purpose of the loan, the lien position, and the document order type. Use the Property sub-tab to record the default legal text. Use the Borrower sub-tab to set the default values that will describe the borrower. Use the Closing sub-tab to set the default closing instructions and fee plans. 5. Click when you're done. USER'S GUIDE PAGE 2-4

13 Preferences SETTING UP - PREFERENCES You can change the modem setup, the database name and location, and other ways DIGITAL DOCS works on the Preferences tab of the Program Setup dialog. 1. Click the button to open the Utilities button bar, then click the button. 2. DIGITAL DOCS will open the Program Setup dialog to the User Info tab. 3. Select the Preferences tab: Figure 2-h: Preferences Tab of the Program Setup Dialog Click the button to select another modem. The Alias list box displays the directory name where DIGITAL DOCS' data is stored when you're connected to a local area network 1. The Default Local Export Directory list box displays the directory to which DIGITAL DOCS will store information that can be used by LoanPilot, a separate proprietary software program. Contact Digital Docs, Inc. for information about this feature. Use the On Importing Loans radio buttons to control how DIGITAL DOCS will handle loans reimporting loans from an external processing system. Contact Digital Docs, Inc. for more information about this feature. Lenders Just as with title/escrow companies, you can add new lenders, you can change the information about existing lenders, and you can remove lenders with whom you no longer do business. You can store an unlimited number of names of lenders in DIGITAL DOCS. Wherever DIGITAL DOCS requires the name of a lender, it will automatically display the names of all the companies you've stored in a drop-down list box from which you can select the desired name. In addition, you can store information about each lender's branch office(s), as well as the closer(s), hazard insurance/loss payee(s), payment address(es), 'return to' address(es), and trustee(s) they usually use. Wherever DIGITAL DOCS requires a name for one of these parties, it will automatically display the names of the companies associated with the lender assigned to the loan. You make those associations in the Lender Setup window. DIGITAL DOCS will automatically insert 1 See Setting up to run on a network on page 2-23 for instructions on setting up DIGITAL DOCS to run on a network. USER'S GUIDE PAGE 2-5

14 SETTING UP - LENDERS this information where needed, and will also give you the opportunity to override its selections by using drop-down list boxes. Adding a new lender 1. Click the button to open the Utilities button bar, then click the button. 2. DIGITAL DOCS will open the Lender Information page of the Lender Setup dialog: Lenders list Figure 2-i: Lender Setup Dialog Notice the Lender's List in the left-hand part of this window. Here you'll find the names of every lender that DIGITAL DOCS currently knows about. Note: DIGITAL DOCS is provided with several correspondent and wholesale lenders already programmed. You cannot change the information programmed into DIGITAL DOCS describing these lenders, nor can you remove this information from DIGITAL DOCS. The information in this list is organized in a tree structure, and operates just like a Windows Explorer window: Click on the symbol to the left of any lender's name in the list, and you'll find six line items representing pages of information: Branches Closers Hazard Payment Return; and, Trustee. Click on the symbol to the left of any of these items, and you'll see the names of companies associated with the selected lender that the lender prefers to use. USER'S GUIDE PAGE 2-6

15 SETTING UP - LENDERS Click on the name of a company, and DIGITAL DOCS will display the associated information in the window to the right of the list. Later, as you create a loan, you'll be able to select the branch, closer, payee, and other items from drop-down lists DIGITAL DOCS creates using the information on these pages. 3. Click on the button at the bottom of the dialog, and DIGITAL DOCS will ask you for a description: Figure 2-j: New Lender Description Dialog 4. Type a descriptive name for the lender into the Enter Desc: text entry box. What you type here will appear in DIGITAL DOCS' drop-down list boxes - not in the closing documents. DIGITAL DOCS will put the legal name for the lender in the closing documents you'll enter the legal name in the following steps. Of course, you can use the legal name of the lender as a descriptive name if you wish, but if the lender's name is very long, you might wish to use a shorter version for convenience. For example, instead of using the full name GN Mortgage Corporation, you might wish to use a shorter version such as GNMC, or GN Mort. Corp. 5. Click, and DIGITAL DOCS will return you to the Lender Information page, with the Lender Description box already filled in: Figure 2-k: Lender Information for Sample Lender Notice that DIGITAL DOCS has added the new lender to the Lender's List at the left in this case, ABC Mortgage and that it has created the six pages discussed earlier, below the new name. 6. Returning to the Lender Information side of the window, fill in the following: Type the lender's legal name into the Lender's Name text entry box. This is the name that will appear on the closing documents. Type the lender's address, phone numbers and contact information into the appropriate text entry boxes. USER'S GUIDE PAGE 2-7

16 SETTING UP - LENDERS Type the lender's license number into the License text entry box. Enter the hours during which the lender receives funding requests into the Fund From and Fund To text entry boxes. Be sure to include am or pm, as appropriate. Select the Odd Days Interest Basis radio button that corresponds with how this lender calculates interest on monthly payments. DIGITAL DOCS defaults to the industry standard 365 days. Use the Lender is Existing Under the Laws of the State of drop-down list box to select the state in which the lender is incorporated. Select the Round PI Payment Up To Highest Penny checkbox if the lender rounds up the borrower's monthly payment to the nearest full penny. Entering branch offices 1. Click on the Branches item in the Lender's List. Alternatively, if you are on the Lender Information page, click the button. 2. DIGITAL DOCS will open the Branch Information page: Figure 2-l: Branch Information Page Here is where you add the names and addresses of branch offices that DIGITAL DOCS should propose to use when assigning a loan to this lender. 3. Click on the button, and DIGITAL DOCS will ask you for a descriptive name for the branch: Figure 2-m: Branch Description Dialog 4. Just as with the lender's name, type a descriptive name for the branch into the Enter Desc: text entry box. Again, what you type here will appear in DIGITAL DOCS' drop-down list boxes only - not in the closing documents. USER'S GUIDE PAGE 2-8

17 SETTING UP - LENDERS 5. Click, and DIGITAL DOCS will return you to the Branch Information page, with the Branch Description box already filled in. Notice that DIGITAL DOCS has added the new branch office under the Branches page in the Lender's List: Figure 2-n: New Lender with New Branch 6. In the Branch Information side of the window, fill in the following: Type the branch's legal name into the Name text entry box. This is the name that will appear on the closing documents. Type the branch's address, phone numbers and contact information into the appropriate text entry boxes. Select the Use as Default Record checkbox, and DIGITAL DOCS will always automatically insert this branch's information into the closing documents when you select the associated lender. You can override this default and select another branch on a loan-by-loan basis, or you can later deselect this checkbox as your business circumstances change. 7. Click the button and DIGITAL DOCS will store the information in its database, leaving the Branch Information dialog open to the current branch. Continue adding branches as needed, clicking on the button to start a new branch and on the button after you've entered the information for each branch. Entering closers and funders 1. Click on the Closers item in the Lender's List. Alternatively, if you are on the Branch Information page, click the button. 2. DIGITAL DOCS will open the Closers/Funders Information page: USER'S GUIDE PAGE 2-9

18 SETTING UP - LENDERS Figure 2-o: Closers/Funders Information Page Here is where you add the names and addresses of closers and funders that DIGITAL DOCS should propose to use when assigning a loan to this lender. 3. Just as you did with the Branch Information page, click on the button, and DIGITAL DOCS will ask you for a descriptive name for the closer or funder: Figure 2-p: Branch Description Dialog 4. Just as with the lender's name, type a descriptive name for the closer or funder into the Enter Desc: text entry box. Again, what you type here will appear in DIGITAL DOCS' drop-down list boxes only - not in the closing documents. 5. Click, and DIGITAL DOCS will return you to the Closer/Funder Information page, with the Closer/Funder Description box already filled in. 6. Fill in the following: Type the legal name of the closer or funder into the Name text entry box. This is the name that will appear on the closing documents. Type the closer's or funder's address, phone numbers and contact information into the appropriate text entry boxes. Select the Use as Default Record checkbox, and DIGITAL DOCS will always automatically insert the information for this closer or funder into the closing documents. You can override this default and select another closer or funder on a loan-by-loan basis, or you can later deselect this checkbox as your business circumstances change. 7. Click the button and DIGITAL DOCS will store the information in its database, leaving the Closer/Funder Information dialog open to the current record. Continue adding closers and funders as needed, clicking on the button to start a new record and on the button after you've entered the information for each record. USER'S GUIDE PAGE 2-10

19 SETTING UP - LENDERS Entering hazard and loss payees 1. Click on the Hazard item in the Lender's List. Alternatively, if you are on the Closers/Funders Information page, click the button. 2. DIGITAL DOCS will open the Hazard/Loss Payee page: Figure 2-q: Hazard/Loss Payee Page Here is where you record the names and addresses of hazard insurance companies that DIGITAL DOCS should propose to use when assigning a loan to this lender. 3. Click on the button, and DIGITAL DOCS will ask you for a descriptive name for the hazard insurance payee: Figure 2-r: Hazard/Loss Payee Dialog 4. Type a descriptive name for the payee into the Enter Desc: text entry box. What you type here will appear in DIGITAL DOCS' drop-down list boxes only - not in the closing documents. 5. Click, and DIGITAL DOCS will return you to the Hazard/Loss Payee page, with the Hazard Description box already filled in. 6. Fill in the following: Type the legal name of the payee into the Name text entry box. This is the name that will appear on the closing documents. Type the payee's address, phone numbers and contact information into the appropriate text entry boxes. Select the Use as Default Record checkbox, and DIGITAL DOCS will always automatically insert the information for this payee into the closing documents. You can override this default and select another payee on a loan-by-loan basis, or you can later deselect this checkbox as your business circumstances change. USER'S GUIDE PAGE 2-11

20 SETTING UP - LENDERS Select the Add "successors and/or assigns" Verbiage checkbox, and DIGITAL DOCS will automatically add the words "successors and/or assigns" to the hazard insurance fields of the closing documents. 7. Click the button and DIGITAL DOCS will store the information in its database, leaving the Hazard/Loss Payee dialog open to the current record. Continue adding payees as needed, clicking on the button to start a new record and on the button after you've entered the information for each record. Entering payment recipients 1. Click on the Payment item in the Lender's List. Alternatively, if you are on the Hazard/Loss Payee page, click the button. 2. DIGITAL DOCS will open the Payment Address page: Figure 2-s: Payment Address Page Here is where you record the names and addresses of payment recipients that DIGITAL DOCS should propose to use when assigning a loan to this lender. 3. Click on the button, and DIGITAL DOCS will ask you for a descriptive name for the payment recipient: Figure 2-t: Payment Address Dialog 4. Type a descriptive name for the payment recipient into the Enter Desc: text entry box. What you type here will appear in DIGITAL DOCS' drop-down list boxes only - not in the closing documents. 5. Click, and DIGITAL DOCS will return you to the Payment Address page, with the Payment Address Description box already filled in. 6. Fill in the following: USER'S GUIDE PAGE 2-12

21 SETTING UP - LENDERS Type the legal name of the party to receive the payments into the Name text entry box. This is the name that will appear on the closing documents. Type the address, phone numbers and contact information for the party to receive payments into the appropriate text entry boxes. Select the Use as Default Record checkbox, and DIGITAL DOCS will always automatically insert the information for this payment recipient into the closing documents. You can override this default and select another recipient on a loan-by-loan basis, or you can later deselect this checkbox as your business circumstances change. 7. Click the button and DIGITAL DOCS will store the information in its database, leaving the Payment Address dialog open to the current record. Continue adding payment recipients as needed, clicking on the button to start a new record and on the button after you've entered the information for each record. Entering document recipients 1. Click on the Return item in the Lender's List. Alternatively, if you are on the Payment Address page, click the button. 2. DIGITAL DOCS will open the Return To Address page: Figure 2-u: Return To Address Page Here is where you record the names and addresses of recipients of the recorded documents that DIGITAL DOCS should propose to use when assigning a loan to this lender. 3. Click on the button, and DIGITAL DOCS will ask you for a descriptive name for the document recipient: Figure 2-v: Payment Address Dialog 4. Type a descriptive name for the document recipient into the Enter Desc: text entry box. USER'S GUIDE PAGE 2-13

22 SETTING UP - LENDERS What you type here will appear in DIGITAL DOCS' drop-down list boxes only - not in the closing documents. 5. Click, and DIGITAL DOCS will return you to the Return To Address page, with the Return To Description box already filled in. 6. Fill in the following: Type the legal name of the party to receive the documents into the Name text entry box. This is the name that will appear on the closing documents. Type the address, phone numbers and contact information for the party to receive the documents into the appropriate text entry boxes. Select the Use as Default Record checkbox, and DIGITAL DOCS will always automatically insert the information for this document recipient into the closing documents. You can override this default and select another recipient on a loan-by-loan basis, or you can later deselect this checkbox as your business circumstances change. 7. Click the button and DIGITAL DOCS will store the information in its database, leaving the Return To Address dialog open to the current record. Continue adding document recipients as needed, clicking on the button to start a new record and on the button after you've entered the information for each record. Entering trustees 1. Click on the Trustee item in the Lender's List. Alternatively, if you are on the Return To Address page, click the button. 2. DIGITAL DOCS will open the Trustee Information page: Figure 2-w: Trustee Information Page Here is where you record the names and addresses of trustees that DIGITAL DOCS should propose to use when assigning a loan to this lender. 3. Click on the button, and DIGITAL DOCS will ask you for a descriptive name for the trustee: USER'S GUIDE PAGE 2-14

23 SETTING UP - LENDERS Figure 2-x: Payment Address Dialog 4. Type a descriptive name for the trustee into the Enter Desc: text entry box. What you type here will appear in DIGITAL DOCS' drop-down list boxes only - not in the closing documents. 5. Click, and DIGITAL DOCS will return you to the Trustee Information page, with the Trustees Description box already filled in. 6. Fill in the following: Type the legal name of the trustee into the Name text entry box. This is the name that will appear on the closing documents. Type the address, phone numbers and contact information for the trustee into the appropriate text entry boxes. Select the Use as Default Record checkbox, and DIGITAL DOCS will always automatically insert the information for this trustee into the closing documents. You can override this default and select another trustee on a loan-by-loan basis, or you can later deselect this checkbox as your business circumstances change. Select the Use Title Company checkbox if applicable. 7. Click the button and DIGITAL DOCS will store the information in its database, leaving the Trustee Information dialog open to the current record. Continue adding trustees as needed, clicking on the button to start a new record and on the Save Record button after you've entered the information for each record. 8. When you're done entering trustees to be associated with this lender, click the button, and DIGITAL DOCS will close the Lender Setup dialog, returning you to the Main window. Changing information about a lender To change information about a lender 2 : 1. Click the button to open the Utilities button bar, then click the button. 2. DIGITAL DOCS will open the Lender Information page of the Lender Setup dialog: 2 You cannot change the information describing any lender that is included with DIGITAL DOCS. If this information changes, DIGITAL DOCS will provide you with the changes through a software update. USER'S GUIDE PAGE 2-15

24 SETTING UP - LENDERS Figure 2-y: Lender Setup Dialog 3. In the Lenders List, click on the name of the lender whose information you wish to change. 4. DIGITAL DOCS will display the lender's information in the window to the right. 5. Type in your changes, then click the button to save your changes and close the dialog. Alternatively, click the other companies. button to continue making changes to Changing information about a supporting company To change information about a company associated with a lender: 1. Click the button to open the Utilities button bar, then click the button. 2. DIGITAL DOCS will open the Lender Information page of the Lender Setup dialog: Figure 2-z: Lender Setup Dialog 3. In the Lenders List, click on the symbol to the left of the lender associated with the supporting company whose information you wish to change, and DIGITAL DOCS will expand the branch to show the six pages. 4. Click on the symbol to the left of the page that contains the company whose information you wish to change, and DIGITAL DOCS will expand the page to show a line item for each company. USER'S GUIDE PAGE 2-16

25 SETTING UP - LENDERS 5. Click on the line that contains the descriptive name of the company whose information you wish to change and DIGITAL DOCS will display that company's information in the window to the right. 6. Type in your changes, then click the button to save your changes and close the dialog. Alternatively, click the other companies. button to continue making changes to Deleting a lender To permanently delete a lender from DIGITAL DOCS' database 3 : 1. Click the button to open the Utilities button bar, then click the button. 2. DIGITAL DOCS will open the Lender Information page of the Lender Setup dialog: Figure 2-aa: Lender Setup Dialog 3. Click on the lender's name in the Lenders List. 4. Click on the button. 5. DIGITAL DOCS will ask you to confirm this command: Figure 2-bb: Delete Lender Confirmation Dialog Important: Deleting a lender will also delete all the companies associated with the lender. 3 You cannot delete a lender that was included with DIGITAL DOCS. If one or more of the built-in lenders is no longer available, DIGITAL DOCS will remove the information through a software update. USER'S GUIDE PAGE 2-17

26 SETTING UP - DEFAULT TRUSTEE 6. Click to delete the lender. Alternatively, click or to leave the lender in the database. Deleting a supporting company To permanently delete a company associated with a lender from DIGITAL DOCS' database: 1. Click the button to open the Utilities button bar, then click the button. 2. DIGITAL DOCS will open the Lender Information page of the Lender Setup dialog: Figure 2-cc: Lender Setup Dialog 3. Click on the symbol to the left of the lender associated with the company you wish to remove, and DIGITAL DOCS will expand the branch to show the six pages. 4. Click on the symbol to the left of the page that contains the company you wish to remove, and DIGITAL DOCS will expand the page to show a line item for each company. 5. Click on the line that contains the descriptive name of the company you wish to remove and DIGITAL DOCS will display that company's information in the window to the right. 6. Click on the button. 7. DIGITAL DOCS will ask you to confirm this command: Figure 2-dd: Delete Lender Confirmation Dialog 8. Click to delete the company. Alternatively, click or to leave the company in the database. Default trustee You can set the trustee DIGITAL DOCS will use by default for each loan. USER'S GUIDE PAGE 2-18

27 SETTING UP - ASSIGNMENT PLANS 1. Click the button to open the Utilities button bar, then click the button. 2. DIGITAL DOCS will open the Default Trustees dialog: Figure 2-ee: Default Trustees Dialog Enter the appropriate information into each text entry box. Select the Use Title Company as Trustee checkbox if applicable. 3. Click, and DIGITAL DOCS will return you to the main window. Assignment plans Using DIGITAL DOCS, you can create a loan and immediately assign it to a specific investor. DIGITAL DOCS lets you create an Assignment Plan for each investor which details the Assignee, Assignor and document recipient. You can then select the desired Assignment Plan while you are creating the loan. You can also edit, rename, and delete existing assignment plans. Important: Make sure the Assignee and Return To information is correct. Contact the investor if there is any question about the accuracy of this information. To create an assignment plan: 1. Open the Loan Data dialog (from the Main screen, click the button, select an existing loan or create a new one, then click the button). 2. Select the button, and DIGITAL DOCS will open the Assignments dialog: USER'S GUIDE PAGE 2-19

28 SETTING UP - ASSIGNMENT PLANS Figure 2-ff: Assignments Dialog The Assignor information describes your company. The Assignee information describes the investor. The Return To information describes where the investor wants the recorded Assignment to be delivered. 3. Click the button, and DIGITAL DOCS will open the Assignment Plans dialog: Figure 2-gg: Assignment Plans Dialog Here is where you create, manage, and delete assignment plans. 4. Click the button, and DIGITAL DOCS will ask you for a name for the plan: Figure 2-hh: New Plan Name Dialog 5. Type in a name, then click. 6. DIGITAL DOCS will add blank fields to the Assignment Plans dialog: USER'S GUIDE PAGE 2-20

29 SETTING UP - ASSIGNMENT PLANS Figure 2-ii: Assignment Plans Dialog 7. Fill in the information for the Assignee (the investor), the Assignor (your company), and the document recipient (Return To). 8. Click the button to save the current plan and continue creating additional assignment plans. Alternatively, click the the Assignment Plans dialog. button to save the current plan and close To edit an assignment plan 1. Open the Loan Data dialog and select the button. 2. DIGITAL DOCS will open the Assignments dialog. 3. Click the button, and DIGITAL DOCS will open the Assignment Plans dialog. 4. Click the button, and DIGITAL DOCS will ask you for a name for the plan to edit: Figure 2-jj: Select Plan Dialog 5. Use the Select Assignment Plan Name drop-down list box to select the plan to edit. 6. Click, and DIGITAL DOCS will return you to the Assignment Plans dialog for the selected plan. 7. Make the needed changes, then click the button to save the plan and return to the Assignment Plans dialog (Figure 2-gg), where you can select other assignment plans to edit. Alternatively, click the button to save the plan and return to the Assignments dialog (Figure 2-ff). USER'S GUIDE PAGE 2-21

30 SETTING UP - ASSIGNMENT PLANS To rename an assignment plan 1. Open the Loan Data dialog and select the button. 2. DIGITAL DOCS will open the Assignments dialog. 3. Click the button, and DIGITAL DOCS will open the Assignment Plans dialog. 4. Click the button, and DIGITAL DOCS will ask you for a name for the plan to edit: Figure 2-kk: Select Plan Dialog 5. Use the Select Assignment Plan Name drop-down list box to select the plan to rename. 6. DIGITAL DOCS will ask you for the new plan name: Figure 2-ll: New Plan Name Dialog 7. Type in a name, then click. 8. DIGITAL DOCS will tell you that the plan has been renamed: Figure 2-mm: Assignment Plan Rename Confirmation 9. Click, and DIGITAL DOCS will return you to the Assignment Plans dialog. To delete an assignment plan 1. Open the Loan Data dialog and select the button. 2. DIGITAL DOCS will open the Assignments dialog. 3. Click the button, and DIGITAL DOCS will open the Assignment Plans dialog. USER'S GUIDE PAGE 2-22

31 SETTING UP - SENDING A TEST FILE 4. Click the button, and DIGITAL DOCS will ask you for a name for the plan to delete: Figure 2-nn: Select Plan Dialog 5. Use the Select Assignment Plan Name drop-down list box to select the plan to delete, the click. 6. DIGITAL DOCS will delete the plan and display a message: Figure 2-oo: Assignment Plan Deletion Confirmation 7. Click, and DIGITAL DOCS will return you to the Assignment Plans dialog. Sending a test file After you've set up and registered DIGITAL DOCS, follow these instructions to send a test file to Digital Docs, Inc. 1. Create a document order using the lender information you've already entered. Enter the words TEST1, TEST2, TEST3, etc., wherever a last name is requested. 2. When you get to the Service Level dialog 4, select either QC (audited) or 3D (not audited). 3. Call the Client Services Department at (877) and alert them you will be sending a test file. Inform them if you will be sending additional documents such as title commitment, survey, or other support documents. 4. Transmit the document order. Setting up to run on a network You can store your DIGITAL DOCS data on a file server, where other users running DIGITAL DOCS on their computers can access the information and where your network administrator can backup the files for safety. To setup DIGITAL DOCS to save its data on a file server: 1. Install and register DIGITAL DOCS on one computer, then run through Chapter 2 - Setting Up. 2. Determine which network disk drive will be used for DIGITAL DOCS data, then create a directory off that drive's root directory called "digidata". For 4 See Figure 4-f on page 4-3 for a description of the Service Level dialog. USER'S GUIDE PAGE 2-23

32 SETTING UP - SETTING UP TO RUN ON A NETWORK example, if the network disk drive is drive "G", then the directory path will be "g:\digidata". 3. Copy all the files from the \digidocs\data file on the computer in which DIGITAL DOCS was installed to the new directory on the file server. 4. Use Notepad or any text editor of your choice to open the alias.pp file in the \digidocs directory on the computer containing DIGITAL DOCS. 5. Delete the DIGIDOCSDATA_C item in the alias.pp file and replace it with the complete path for the directory you created on the file server. For example, if the network disk drive is drive G, then enter g:\digidata. 6. Save the alias.pp file and close the text editor. Note: If you're not using Notepad, be sure you save the file as a text file. 7. For each additional computer that will be running DIGITAL DOCS, install DIGITAL DOCS and repeat steps 4 through 6. Note: Register DIGITAL DOCS for only one computer. Do NOT register DIGITAL DOCS on any other computers. 8. Open DIGITAL DOCS and you will be prompted for a user name and password. To obtain passwords, contact DIGITAL DOCS support at (877) USER'S GUIDE PAGE 2-24

33 CREATING A DOCUMENT ORDER CHAPTER 3 - CREATING A DOCUMENT ORDER About this chapter Chapter 3 - Creating a Document Order This chapter shows you how to enter and modify the information necessary to order closing documents for a loan. Using this chapter, you can: Create a document order, including selecting or entering information that describes: the lender; the title, escrow, closing and funding companies; the broker, the trustee, the payment and document recipients, and the hazard/loss payees; the loan; investor assignments; the borrower(s); the property; and, the closing. Change a document order; Rename a document order; and, Delete a document order. Creating a document order To create a new document order: 1. Click the button on the button bar, and DIGITAL DOCS will display the Open/Modify Document Order dialog: Figure 3-a: Open/Modify Document Order Dialog The button opens a search dialog that is described beginning on page Type the loan number from the lender loan file 5 into the Loan Number text entry box. 5 The loan number is on the Underwriter Approval or the Loan Application form USER'S GUIDE PAGE 3-1

34 CREATING A DOCUMENT ORDER - ENTERING LOAN INFORMATION 3. Click, and DIGITAL DOCS will ask you to confirm this command: Figure 3-b: Create Loan Confirmation Dialog 4. Click, and DIGITAL DOCS will close the Open/Modify Document Order dialog, changing some of the buttons on the button bar (see Figure 3-c to the left). 5. Click the button to save the loan. About the button bar The button bar shown to the left is how you step through the documentordering process. As you are entering information, DIGITAL DOCS checks your work automatically, and won't let you proceed until you have entered the information necessary for the next step. In this manner, nothing is omitted. Figure 3-c: Button Bar At the left-hand end of many of the buttons, you'll notice what looks like a lightbulb. This is DIGITAL DOCS' 'traffic light', and the color of the light tells you the condition of the information: Here is the traffic light If the traffic light is green, then all the required information has been entered. If the traffic light is yellow, then information is missing, but the information isn't necessary to proceed. You can continue to the next step. If the traffic light is red, then information that must be entered before you can proceed is missing, and you cannot proceed until you correct the problem. DIGITAL DOCS can tell you what's missing. Click your right mouse button on the button with the yellow or red traffic light to open the right-click menu, then select the Why Red? or Why Yellow? menu item. DIGITAL DOCS will open a message box whose contents describe what's missing. Entering loan information After creating the document order, the next step is to enter information describing the lender (and the supporting companies) and the loan. Entering information about the loan program and lender In this step, you'll select: the loan program; the lender; USER'S GUIDE PAGE 3-2

35 CREATING A DOCUMENT ORDER - ENTERING LOAN INFORMATION the loan product; the state in which the property is located; the lender and branch office (if applicable); the closer, funder, broker, and trustee; the payment and the document recipients; the hazard insurance carrier; and, the investor to whom this loan will be assigned (if applicable). 1. Click the button. 2. DIGITAL DOCS will open the Loan Programs and Lenders dialog: Figure 3-d: Loan Programs and Lenders Dialog Use the Loan Programs drop-down list to select the program for this loan: Figure 3-e: Loan Programs Drop-down List Your choice here will determine what selections DIGITAL DOCS makes available in the other drop-down lists on this dialog. For example, select Correspondent Lenders, and DIGITAL DOCS will only display the names of correspondent lenders in the Available Lenders for Program list. Or, select FHA, and DIGITAL DOCS will only display FHA loan products in the Product Type list box. Use the Available Lenders for Program drop-down list to select the lender family for this loan. DIGITAL DOCS will limit what is displayed in the Specific Lender drop-down list to only those companies related to your selection in the Available Lenders for Program list. USER'S GUIDE PAGE 3-3

36 CREATING A DOCUMENT ORDER - ENTERING LOAN INFORMATION Use the Specific Lender drop-down list to select the member of the lender family to use for this loan. For example, Alliance Mortgage is organized as separate entities in several states. Select Alliance Mortgage in the Available Lenders for Program list, and DIGITAL DOCS will display all the Alliance Mortgage companies in the Specific Lender list. Use the Product Type drop-down list to select the type of loan 6. DIGITAL DOCS will limit the items in this list to products that are offered under the item you selected in the Loan Program list. Use the Subject Property State drop-down list to select the State in which the property is located. 3. Click, and DIGITAL DOCS will open the Loan Data dialog to the Lender Information tab: Figure 3-f: Loan Data Dialog, Lender Information Tab The Lender Information tab of the Loan Data dialog is where you select the closer or funder, the broker and the lender's branch office (if applicable). The buttons at the bottom of the dialog take you to where you can select the Trustee, the Payment recipient, the Document recipient, the Hazard/Loss payee, and the investor to whom the loan will be assigned. Some of the buttons at the bottom of the screen may be displayed in red, signifying that the related information is incomplete. When you click each button, DIGITAL DOCS will open a dialog in which you can select or enter appropriate information. When the information is complete, DIGITAL DOCS will display the button in black. Other of the buttons may already be displayed in black, signifying that the related information is complete. DIGITAL DOCS automatically inserted the necessary information for each black button when you made your selections on the Loan Programs and Lenders dialog. You can examine and change this information if necessary. DIGITAL DOCS has also automatically filled in the lender's address and contact information, based on the lender you selected in the Loan Programs and Lenders dialog. DIGITAL DOCS will also automatically fill in the closer or funder preferred by the selected lender, but only if the Use as Default checkbox has been selected on the associated company's information page (see Entering closers and funders on page 2-9). 6 Loan product information is on the Underwriter's Approval or the Loan Application USER'S GUIDE PAGE 3-4

37 CREATING A DOCUMENT ORDER - ENTERING LOAN INFORMATION 4. If required, select the Closer and Funder using the associated drop-down list boxes. 5. Select the Input Broker or Correspondent Information checkbox if you wish to enter information about the broker, and DIGITAL DOCS will display the yellow Broker Information text box in this dialog. DIGITAL DOCS will automatically insert the text shown in this box into the closing documents. If no broker is specified, DIGITAL DOCS will insert the text, "Close in name of lender". To select a broker, click once in the large yellow text box. DIGITAL DOCS will display the Broker Information dialog: Figure 3-g: Broker Information Dialog Use the Company Desc drop-down list to select an existing broker, or enter the information describing a new broker. Note: If entering a new broker, click on the wish to use this information again. button if you Select the Close in Name of Broker checkbox if applicable, then use the Existing Under Laws of drop-down list to select the state in which the broker is recognized. Click, and DIGITAL DOCS will return you to the Lender Information tab. 6. Select the Input Branch Information checkbox if you wish to select the lender's branch office. DIGITAL DOCS will display the yellow Branch Information text box in the Loan Data dialog. Click once in the Branch Information text box, and DIGITAL DOCS will display the Branch Information dialog: USER'S GUIDE PAGE 3-5

38 CREATING A DOCUMENT ORDER - ENTERING LOAN INFORMATION Figure 3-h: Branch Information Dialog Use the Company Desc drop-down list to select a branch office. You can also type in new information if needed. Click, and DIGITAL DOCS will return you to the Loan Data dialog. 7. Click the button, and DIGITAL DOCS will open the Trustee Information dialog: Figure 3-i: Trustee Information Dialog Use the Desc drop-down list to select a trustee from the list of trustees already defined for this lender. DIGITAL DOCS will automatically fill in the rest of the fields. If no trustees have been defined for this lender, click the button, and DIGITAL DOCS will display a list of all trustees in the entire database. Note: You can change the Trustee information for this loan if required by typing over the displayed text. Click the button, and DIGITAL DOCS will return you to the Loan Data dialog. USER'S GUIDE PAGE 3-6

39 CREATING A DOCUMENT ORDER - ENTERING LOAN INFORMATION Notice that the button is now displayed in black, indicating that a trustee has been selected. 8. Click the button, and DIGITAL DOCS will open the Payment Information dialog, with the default payment recipient already selected: Figure 3-j: Payment Information Dialog Use the Desc drop-down list to select a different payment recipient to use (if appropriate), then click. DIGITAL DOCS will return you to the Loan Data dialog. 9. Click the button, and DIGITAL DOCS will open the Return Security Instruments To dialog, with the default document recipient already selected: Figure 3-k: Return Security Instruments To Dialog Use the Desc drop-down list to select a different document recipient to use (if appropriate), then click. DIGITAL DOCS will return you to the Loan Data dialog. 10. Click the button, and DIGITAL DOCS will open the Hazard/Loss Payee Information dialog, with the default payee already selected: USER'S GUIDE PAGE 3-7

40 CREATING A DOCUMENT ORDER - ENTERING LOAN INFORMATION Figure 3-l: Hazard/Loss Payee Information Dialog Use the Desc drop-down list to select a different payee to use (if appropriate), then click. DIGITAL DOCS will return you to the Loan Data dialog. 11. Click the button, and DIGITAL DOCS will open the Assignments dialog: Figure 3-m: Assignments Dialog 12. Use the Assignment Plan drop-down list box to select the assignment plan for this loan. DIGITAL DOCS will automatically fill in the information in this dialog. Note: Creating and managing assignment plans is described on page Click, and DIGITAL DOCS will return you to the Loan Data dialog. Entering general loan information In this step, you'll: enter the interest rate; select the loan purpose and type of document order; enter case numbers and select FHA sections (if appropriate); and, enter information about: USER'S GUIDE PAGE 3-8

41 CREATING A DOCUMENT ORDER - ENTERING LOAN INFORMATION secondary financing, prepayment penalties, MERS tracking numbers, step rate payments, APR overrides, and teaser rates. Note: If this is an order for a loan modification, skip ahead to the paragraph titled Loan Modifications beginning on page In the Loan Data dialog, select the General Loan Data tab: Figure 3-n: General Loan Data Tab DIGITAL DOCS has already filled-in the Product Type box based on the selection you made in the Loan Programs and Lenders dialog. 2. Enter the interest percentage 7 in the Interest Rate text entry box. For ARM, Buydown, and GPM loans, enter the Start Rate. 3. DIGITAL DOCS will automatically display the most appropriate item in the Loan Purpose list box, based on the type of product you selected. You can use the Loan Purpose drop-down list box to override DIGITAL DOCS' selection. DIGITAL DOCS will make additional controls visible in this dialog depending on the type of loan you selected: If a Refinance, select the appropriate Is Lender the Original Lender radio button. If a Texas Equity Out loan, enter the appropriate date in mm/dd/yy format into the Receipt of Constitutional Notice to Last Borrower / Property Owner / Spouse entry box. Alternatively, click the button at the right of the entry box and select the date from the pop-up calendar. If this is a loan modification, click the button and refer to the section titled Loan Modifications on page 3-12 for further instructions.. 4. Use the Doc Order Type drop-down list box to select the type of documents you are ordering: Closing Documents or Initial Disclosures 7 The Interest Rate is in the Underwriter's Approval or the Loan Lock information. USER'S GUIDE PAGE 3-9

42 CREATING A DOCUMENT ORDER - ENTERING LOAN INFORMATION 5. If appropriate, enter the FHA or VA case number 8 into the Case Number text entry box. For Conventional loans, enter the MI number Select the Secondary Financing on Property? checkbox if the loan is approved with a second lien 10. Then, click the button. DIGITAL DOCS will display the Secondary Financing Information dialog: Figure 3-o: Secondary Financing Information Dialog Enter the Lender, the Trustee and the Loan Amount for the second lien and click. 7. Select the Prepayment Penalty on this Loan 11 checkbox if applicable, then enter the number of months into the Prepayment Months text entry box. 8. Select the Is this a MERS Transaction? checkbox if applicable 12, then enter the MERS MIN number into the MERS MIN # text entry box. Alternatively, you can click the button, and DIGITAL DOCS will automatically create a MERS MIN number for you. 9. Select the Step Rate Program checkbox if the Lender requires payments to be step rated. Then, click the button. DIGITAL DOCS will open the Step Rate Information dialog: Figure 3-p: Step Rate Information Dialog Enter the step rate information, then click. 10. Select the APR Override checkbox if the calculated APR doesn't match the Lender APR and the Lender requires they be the same. Then, click the button. DIGITAL DOCS will open the APR Override Information dialog: 8 FHA and VA Case Numbers are on form and other government forms in the file. 9 The MI number is on the Mortgage Insurance Certificate. 10 Secondary loan information is on the Underwriter's Approval, the Sales Contract, or the Title Commitment. 11 Prepayment penalty information is on the Lender Program Guide or Set-up. 12 You can obtain MERS information from the Investor, or consult the Lender. USER'S GUIDE PAGE 3-10

43 CREATING A DOCUMENT ORDER - ENTERING LOAN INFORMATION Figure 3-q: APR Override Information Dialog Enter the APR override information, then click. NOTE: DIGITAL DOCS will not perform an automatic APR tolerance test when a Lender APR is used. 11. Select the Teaser Rate checkbox if the Lender requires a teaser rate. Then, click on the button. DIGITAL DOCS will open the Teaser Rate Information dialog: Figure 3-r: Teaser Rate Information Dialog Enter the teaser rate information, then click Data dialog. 12. Select the Bond Loan checkbox if appropriate, then click the button. to return to the Loan DIGITAL DOCS will open the Bond Program Information dialog: Figure 3-s: Bond Program Information Dialog USER'S GUIDE PAGE 3-11

44 CREATING A DOCUMENT ORDER - ENTERING LOAN INFORMATION Enter the Bond Program and the DPAP numbers into the associated text entry boxes, then click. DIGITAL DOCS will return you to the Loan Data dialog. 13. Skip ahead to the paragraph titled Entering detailed loan information beginning on page Loan Modifications If you are entering a document order for a loan modification: 1. From the General Loan Data tab of the Loan Data dialog: Figure 3-t: General Loan Data Tab 2. Open the Loan Purpose drop-down list and select the Modification item, then click the button. 3. DIGITAL DOCS will open the Modification dialog: Figure 3-u: Modification Dialog 4. Enter the required information into each text entry box in the Modification dialog. 5. Click the button to enter information about who purchased the original loan. 6. DIGITAL DOCS will display the Prior Assignment dialog: USER'S GUIDE PAGE 3-12

45 CREATING A DOCUMENT ORDER - ENTERING LOAN INFORMATION Figure 3-v: Prior Assignment Dialog 7. Enter the required information into each text entry box in the Prior Assignment dialog. 8. Click successively until you return to the Loan Data dialog. Entering detailed loan information In this step, you'll select: the state in which the property is located; the lender and branch office (if applicable); the closer, funder, broker, and trustee; the payment and the document recipients; the hazard insurance carrier; and, the investor to whom this loan will be assigned (if applicable). 1. From the Loan Data dialog, select the Loan Details tab: Figure 3-w: Loan Details Tab 2. Enter the base loan amount 13 into the Base Loan Amount text entry box. 13 The base loan amount is in the Lender's loan file. USER'S GUIDE PAGE 3-13

46 CREATING A DOCUMENT ORDER - ENTERING LOAN INFORMATION DIGITAL DOCS will automatically calculate the amount of any financed PMI or FHA MI premium or VA Funding Fee, and will include it in the amount shown in the Total Loan Amount text box. 3. Enter the appraised value 14 into the Appraised Value text entry box. DIGITAL DOCS will use the amount entered here to calculate the Loan-to- Value (LTV) ratio. 4. Enter the sales price 15 into the Sales Price text entry box. 5. DIGITAL DOCS will automatically insert default values into the Late Charge, Grace Period, Loan Term and Amortization Term text entry boxes, based on the type of loan you selected on the Loan Programs and Lenders dialog. You can manually enter values to override these defaults if necessary. For example, some states require "unusual" or "out of the normal" late charges 16 or grace periods 17, in which case you would enter the required value. Be sure and check these four values for accuracy before proceeding. 6. Enter the seven dates listed below into their associated text entry boxes. You can type in the date in mm/dd/yy format, or you can click on the button to the right of each text box to pick the date from a pop-up calendar. Enter the Application Date from the Signature Date on the loan application. Enter the Interest Rate Expires date from the Underwriter's Approval or the Lender's Lock Sheet. Enter the Documents Expire date from the Lender Program. Check to make sure the documents don't expire before the Interest Rate Expiration date. Enter a Rescission Date if the loan is a refinance of a primary residence which requires a three-day right-to-cancel. Use the Document Date box to enter the date that will appear on all closing documents. Use the Projected Funding Date box to enter the date the Lender expects the loan to fund. Use the First Payment Date box to enter the date the Borrower will make his/her first payment DIGITAL DOCS will automatically calculate and display the loan-to-value ratio in the LTV text box. You cannot override this value. 8. Select the Override Prepaid Interest checkbox to disable DIGITAL DOCS' automatic calculation of the prepaid interest. Type the desired value into the PPI text entry box DIGITAL DOCS will display when you deselect the checkbox. 9. Depending on the type of loan selected on the General Loan Information tab, DIGITAL DOCS will display one of the following three buttons: 14 The appraised value is on the Appraisal and on the Underwriter's Approval. 15 The sales price is on the Sales Contract and on the Loan Approval. 16 Please refer to state requirements for accuracy in overriding the Late Charges. 17 Please refer to state requirements for accuracy in overriding the Grace Period. 18 The First Payment Date is on the Loan Approval and in the Lender Program guidelines. USER'S GUIDE PAGE 3-14

47 CREATING A DOCUMENT ORDER - ENTERING LOAN INFORMATION DIGITAL DOCS will display the button if you've selected a VA loan. Please refer to the VA Funding Fees paragraph beginning on page DIGITAL DOCS will display the button if you've selected an FHA loan. Please refer to the FHA Mortgage Insurance Fees paragraph beginning on page DIGITAL DOCS will display the button if you've selected a conventional loan and you've also selected the Mortgage Insurance Required checkbox. Please refer to the Private Mortgage Insurance Fees paragraph beginning on page Note: Select the Mortgage Insurance Required checkbox if the LTV is greater than 80%. 10. If the loan has a buydown 19 option, select the Does this loan have a Buydown checkbox and then click the button. DIGITAL DOCS will open the Buydown Information dialog. Please refer to the Buydown Information paragraph beginning on page 3-19 for information about this dialog. 11. If the loan is an ARM, click the button, and DIGITAL DOCS will open the ARM Information dialog. Please refer to the ARM Information paragraph beginning on page 3-20 for information about this dialog. 12. If the borrower is receiving Veteran's housing assistance, click the button and DIGITAL DOCS will open the Veterans Housing Assistance Program dialog: Figure 3-x: VHAP Dialog Fill in the necessary information, then click Data dialog. to return to the Loan 13. After returning to the Loan Data dialog, click the button to return to the main screen, then click the button. 14. Skip ahead to the paragraph titled Checking your work on page Buydown information is on the Loan Approval and on the Sales Contract. USER'S GUIDE PAGE 3-15

48 CREATING A DOCUMENT ORDER - ENTERING LOAN INFORMATION VA Funding Fees If you've selected a VA loan: 1. From the Loan Details dialog, click the button and DIGITAL DOCS will display the VA Funding Fee dialog: Figure 3-y: VA Funding Fee Dialog 2. Use the Funding Fee Plan drop-down list box to select the desired plan. 3. DIGITAL DOCS will automatically insert the fee percentage and calculated amount associated with the selected plan into the Funding Fee text boxes. You can manually enter a different fee percentage, and DIGITAL DOCS will automatically recalculate the amount. 4. Use the Round Factor drop-down list box to select the amount to which DIGITAL DOCS will round its calculations. 5. Select the Amount Paid in Cash By radio button that represents who will pay the fee. 6. Select the Exempt checkbox if this loan is exempt from the funding fee. 7. Select the Fee is Financed checkbox if the fee is to be included in the amount being borrowed. 8. Click to return to the Loan Details dialog. 9. Return to Step 10 of Entering Detailed Loan Information on page FHA Mortgage Insurance Fees If you've selected an FHA mortgage: 1. From the Loan Details dialog, click the button, and DIGITAL DOCS will display the FHA Mortgage Insurance Data dialog: USER'S GUIDE PAGE 3-16

49 CREATING A DOCUMENT ORDER - ENTERING LOAN INFORMATION Figure 3-z: FHA Mortgage Insurance Data Dialog 2. Use the MI Plan drop-down list to select the desired plan. 3. DIGITAL DOCS will automatically insert the premium rate, calculated amount, and initial duration associated with the selected plan into the MI Premium and Initial Number of Months text boxes. You can manually enter a different percentage, and DIGITAL DOCS will automatically recalculate the amount. You cannot change the duration. 4. Use the Round Factor drop-down list box to select the amount to which DIGITAL DOCS should round its calculations. 5. Select the Cash Paid By radio button that corresponds with the source of funds for the insurance. 6. DIGITAL DOCS automatically displays the percentage rates and durations for each renewal group that are associated with the plan you selected. You can manually enter different percentages and durations if different or needed. 7. Click, and DIGITAL DOCS will return you to the Loan Details dialog. 8. Return to Step 10 of Entering Detailed Loan Information on page Private Mortgage Insurance Fees If you've selected a conventional loan and mortgage insurance is required: 1. From the Loan Details dialog, select the Mortgage Insurance Required checkbox, then click the button, and DIGITAL DOCS will open the Private Mortgage Insurance Data dialog: USER'S GUIDE PAGE 3-17

50 CREATING A DOCUMENT ORDER - ENTERING LOAN INFORMATION Figure 3-aa: Private Mortgage Insurance Data Dialog 2. Use the PMI Plan drop-down list box to select the desired plan. 3. Type the name of the company providing the insurance into the PMI Company Name text entry box. 4. Type the percentage rate into the PMI Premium text box, and DIGITAL DOCS will automatically calculate and display the amount and the Initial Number of Months value. 5. Enter the percentage rates for each PMI renewal into the First, Second, and Third Renewal Group text boxes. DIGITAL DOCS will automatically enter the durations associated with the selected plan into the Term text boxes. 6. Select the Renewals radio button indicated on the PMI Certificate. 7. DIGITAL DOCS will automatically calculate and display the total amount of the premium required in the Borrower text box under the Amount of Premium Paid By heading. Enter dollar amounts to be paid by other parties 20 into the associated Amount of Premium Paid By text entry boxes, and DIGITAL DOCS will recalculate the amount shown in the Borrower text box. 8. DIGITAL DOCS will automatically calculate the amount displayed in the Total Borrower Amt text box. You cannot change this value. 9. Enter the PMI certificate number 21 into the PMI Cert. Number text entry box. 10. Select the Initial Premium Financed checkbox if the borrower is financing the initial premium. DIGITAL DOCS will automatically calculate and display the amount financed. You cannot change this value. 11. Enter the amount to which DIGITAL DOCS should round its calculations into the Round Factor text entry box. 20 The amounts to be paid by each party are on the Sales Contract. 21 The certification number is on the PMI Certificate USER'S GUIDE PAGE 3-18

51 CREATING A DOCUMENT ORDER - ENTERING LOAN INFORMATION 12. Select the cushion period using the Cushion drop-down list box. 13. Select the Refundable checkbox if the mortgage insurance is refundable Click, and DIGITAL DOCS will return you to the Loan Details dialog. 15. Return to Step 10 of Entering Detailed Loan Information on page Buydown Information If this loan has a buydown option: 1. From the Loan Details dialog, click the button. 2. DIGITAL DOCS will open the Buydown Information dialog: Figure 3-bb: Buydown Information Dialog 3. Use the Plan Name drop-down list to select the plan that matches the conditions of the Loan Approval and Sales Contract. To add a new buydown plan, click the display the Add Buydown Plan dialog: button. DIGITAL DOCS will Figure 3-cc: Add Buydown Plan Dialog Enter the desired values into each field, then click, and DIGITAL DOCS will return you to the Buydown Information dialog. 22 Refundability is on the PMI Certificate. USER'S GUIDE PAGE 3-19

52 CREATING A DOCUMENT ORDER - ENTERING LOAN INFORMATION 4. DIGITAL DOCS will automatically insert the percentage rates associated with the selected plan. 5. Click the button, and DIGITAL DOCS will calculate the amounts owed by the Borrower, Seller and Third Party. 6. Click, and DIGITAL DOCS will return you to the Loan Details dialog. 7. Return to Step 11 of Entering Detailed Loan Information on page ARM Information If this loan is an ARM: 1. From the Loan Details dialog, click the button. 2. DIGITAL DOCS will open the ARM Information dialog: Figure 3-dd: ARM Information Dialog 3. DIGITAL DOCS automatically inserts information into this dialog based on the loan plan selected on the Loan Programs and Lenders dialog. Based on the loan plan, you can manually override selected values in this dialog: Use the Margin text box to make sure the margin matches the Loan Plan and the ARM Program 23. Use the Maximum Rate text entry box to override the interest rate plus the maximum rate cap for the program. Use the Minimum Rate text entry box to override the lowest rate that will ever be charged over the life of the loan. Use the Initial Change Rate Cap text entry box to override the amount the loan will adjust on the first rate change. Use the Current Index text entry box to enter the index for the date the Loan Documents are drawn. 23 The Loan Plan and the ARM Program information is on the Loan Approval and the Sales Contract. USER'S GUIDE PAGE 3-20

53 CREATING A DOCUMENT ORDER - ENTERING LOAN INFORMATION Use the First Adjustment text entry box to override the minimum number of months that must elapse before the first rate adjustment 24. Use the First Rate Change date entry box to override the planned date of the first interest rate change 25. Use the Subsequent Rate Cap per Change text entry box to override the maximum percentage the rate can adjust (up or down) on each change date after the first adjustment. This value will apply over the life of the loan. Use the Number of Months Between Subsequent Changes text entry box to override the number of months that must elapse between rate changes after the first adjustment. This value will apply over the life of the loan. Use the Number of Months Between Subsequent Changes text entry box to override the number of months that must elapse between rate changes after the first adjustment. This value will apply over the life of the loan. Select the Conversion to Fixed Rate checkbox if the loan has a conversion option 26. Enter the fee and percentage into the Conversion Fee and Conversion Rate text entry boxes. 4. Click, and DIGITAL DOCS will return you to the Loan Details dialog. 5. Return to Step 12 of Entering Detailed Loan Information on page Checking your work DIGITAL DOCS automatically checks the information you've entered to see if anything is missing, and displays a 'traffic light' on the Loan Data, Property, Borrowers, Closing, and Transmit buttons on the button bar. The color of the traffic light reveals if the information related to the associated button is complete or incomplete. To check if your loan data is complete: 1. Examine the Loan Data button and observe the color of the traffic light at the left-hand end: Here is the traffic light Figure 3-ee: Loan Data Button 2. The traffic light must be either green or yellow before you can continue. If the traffic light is red, then loan information that must be entered before you can enter borrower or property information is missing, and you cannot proceed until you correct the problem. If the traffic light is yellow, then loan information is missing, but the information isn't necessary to enter borrower or property information. You can proceed to enter information about the property and the borrower, but you cannot order documents. 24 The Rate Adjustment period is in the Program Disclosure or Product Description. 25 The First Rate Change Date is in the Program Disclosure. 26 Conversion Option information is in the Program Disclosure and the Product Summary. USER'S GUIDE PAGE 3-21

54 CREATING A DOCUMENT ORDER - ENTERING PROPERTY INFORMATION 3. If the traffic light is either yellow or red, click your right mouse button on the button to open the right-click menu, then select the Why Red? or Why Yellow? menu item. 4. DIGITAL DOCS will open a message box whose contents describe what's missing: Figure 3-ff: Why is the Loan Data Button Red Dialog 5. Click, then make the necessary corrections. 6. Click to save your work. Entering property information After entering all the information about the loan, the next step is to enter information describing the property. In this step, you'll: describe the property; if a construction loan, enter information about the building contractor and the construction-related terms of the loan; and, describe the seller. Describing the property In this step, you'll: enter the address of the property; enter the occupancy use, the property type, and the number of units, enter the legal description; enter any special instructions to the document preparers; and, if a Texas refinance, enter additional lien information. To describe the property: 1. Click the button. 2. DIGITAL DOCS will open the Subject Property Information dialog: USER'S GUIDE PAGE 3-22

55 CREATING A DOCUMENT ORDER - ENTERING PROPERTY INFORMATION Figure 3-gg: Subject Property Tab 3. Enter the property address 27 into the appropriate text entry boxes. 4. Enter the vendor's lien amount, if any, into the Vendor's Lien Amount entry box. 5. If this is a manufactured home, click the button, and DIGITAL DOCS will open the Manufactured Housing Data dialog: Figure 3-hh: Manufactured Housing Data Dialog Enter the information from the Sales Agreement into the appropriate text boxes, then click to return to the Subject Property tab. 6. Use the Occupancy drop-down list to select the borrower's use for the property 28 : Primary, Secondary, or Investment. 7. Enter the number of units 29 being purchased or refinanced into the Number of Units text box. 8. Use the Property Type drop-down list to select the type of property 30 : SFR, Multi-Family, PUD, or Condo. 9. If the loan is a PUD or a Condo, enter the name of the project 31 into the Project Name text entry box. 27 The Property Address is on the Appraisal, the Survey, and the Contract. The County name if on the Appraisal and on the Title Commitment's Legal Description. 28 Occupancy information is found on the Underwriter's Approval and on form The number of units is on the Appraisal. 30 The Appraisal and the Title Commitment will indicate if the property is a PUD or a Condominium. 31 The Project Name is on the Appraisal or the Title Commitment. USER'S GUIDE PAGE 3-23

56 CREATING A DOCUMENT ORDER - ENTERING PROPERTY INFORMATION 10. Click the button, and DIGITAL DOCS will open the Legal Description dialog: Figure 3-ii: Legal Description Dialog Enter the legal description found on the Title Commitment. Alternatively, click the button, and DIGITAL DOCS will automatically insert the words, "See Exhibit "A" attached hereto and made a part hereof." Click, and DIGITAL DOCS will return you to the Subject Property tab. 11. Click the button, and DIGITAL DOCS will open the Special Instruction to Document Preparer dialog: Figure 3-jj: Special Instruction to Document Preparer Dialog 12. If appropriate 32, select the Add to Hold Harmless checkbox and enter encroachment information into the appropriate text entry boxes. 13. If appropriate 33, select the Please Prepare Escrow for Completion checkbox, then click the button. DIGITAL DOCS will open the Escrow Information dialog: 32 Add to Hold Harmless information is on the Survey. 33 Escrow preparation information is on the Contract or the Addendum to the Contract. USER'S GUIDE PAGE 3-24

57 CREATING A DOCUMENT ORDER - ENTERING PROPERTY INFORMATION Figure 3-kk: Escrow Information Dialog Enter information into the appropriate text entry boxes. Click to return to the Special Instruction to Document Preparer dialog. 14. If an Owelty of Partition is required 34, select the Owelty of Partition Deed checkbox and enter the appropriate information. 15. If the lien is to be subordinated 35, select the Prepare Subordination Agreement checkbox and enter the appropriate information. 16. If appropriate 36, select the Prepare Warranty Deed checkbox and click on the button. DIGITAL DOCS will open the Warranty Deed Information dialog: Figure 3-ll: Warranty Deed Information Dialog Use the Warranty Deed Type drop-down list to select the Warranty Deed for the contract. If there is a secondary lender, enter the appropriate information into the Secondary Lender text entry boxes. Click to return to the Special Instruction to Document Preparer dialog. 17. Click to return to the Subject Property Information dialog. 18. If this lien is being renewed or extended on a Texas refinance, click the button. DIGITAL DOCS will open the Renewal and Extension dialog: 34 Owelty of Partition information is on the Underwriter's Approval. 35 Subordination Agreement information is on the Underwriter's Approval and on the Title Commitment. 36 Warranty Deed information is required on all Texas purchases. USER'S GUIDE PAGE 3-25

58 CREATING A DOCUMENT ORDER - ENTERING PROPERTY INFORMATION Figure 3-mm: Renewal and Extension Dialog Enter the lien information from Schedule C of the Title Commitment, then click. DIGITAL DOCS will return you to the Subject Property Information dialog. Construction loans If this is a construction loan, you'll: enter contractor information (if required); enter details about the construction part of the loan. To enter construction loan information: 1. From the Subject Property Information dialog, click the Construction Information tab: Figure 3-nn: Construction Information Tab 2. If appropriate, select the Require Contractor Information checkbox, then use the Name drop-down list to select a contractor 37 from DIGITAL DOCS' database. You can manually enter the contractor's name, address, and contact information if his/her name isn't in the database. If you wish to include this contractor in the Name drop-down list, then click the button. You can include information on up to eight contractors that are associated with this loan. Use the radio buttons to the right of the dialog to add other contractors to the loan. 37 Contractor information is on the Construction Contract. USER'S GUIDE PAGE 3-26

59 CREATING A DOCUMENT ORDER - ENTERING BORROWER INFORMATION 3. Enter the details of the construction contract into the appropriate text entry boxes. Describing the seller In this step, you'll enter contact information describing as many as four sellers. To describe the seller(s): 1. From the Subject Property Information dialog, click on the Seller Information tab: Figure 3-oo: Seller Information Tab 2. Enter each seller's information into the appropriate text entry boxes. Be sure to select the Is Seller a Corporation? checkbox for each seller where appropriate 38. If there are more than two sellers, click on the buttons. 3. Click to return to the main screen, then click the button to save your work. Check your work The traffic light in the button should now be green. If it isn't, please read the Checking your work paragraph starting on page and Entering borrower information After entering all the information about the loan and the property, the next step is to enter information describing the borrower. In this step, you'll describe the borrower(s), including address(es), Social Security number(s), and vesting. To describe the borrower(s): 1. Click the button. 2. DIGITAL DOCS will open the Borrower Information dialog: 38 A Seller's Corporation status is on the Contract and the Title Commitment. USER'S GUIDE PAGE 3-27

60 CREATING A DOCUMENT ORDER - ENTERING BORROWER INFORMATION Figure 3-pp: Borrower Data Tab You can enter information for up to four Borrowers, two each on the tab shown, and two more by clicking the button. Follow the instructions below for each Borrower. 3. Enter the Borrower's name 39 into the appropriate text entry boxes. 4. Enter the Borrower's Social Security number 40 or the Tax ID number into the SSN or Tax ID# text box. 5. Use the Borrower will sign drop-down list box to select the type of documents the Borrower will sign. 6. Click on the Affidavits button to enter information about discrepancies in the Borrower's name or loan information. DIGITAL DOCS will open the Borrower Affidavits dialog: Figure 3-qq: Borrower Affidavits Dialog Enter the necessary information, then click to close the dialog. 7. Click on the Insurance button to enter information about the Borrower's Credit Life and Disability insurance. DIGITAL DOCS will open the Credit Life / Disability Insurance dialog: 39 The Borrower's name is on form 1003 or the Title Commitment. On all refinances, use the Title Commitment. 40 The Borrower's SSN or Tax ID# are on form 1003, tax returns, pay stubs, and credit report. USER'S GUIDE PAGE 3-28

61 CREATING A DOCUMENT ORDER - ENTERING BORROWER INFORMATION Figure 3-rr: Credit Life / Disability Insurance Dialog Make the selections and enter the amounts shown in the Lender's Loan file, then click to close the dialog. If this is loan is for a mobile home, DIGITAL DOCS will display a text entry box labeled Mobile Homeowners Insurance Amount. Enter the value of the homeowners insurance into this text box. 8. Use the Vesting Statement drop-down list box to select the appropriate vesting statement, according to the following guidelines: Vesting Statement Guidelines For each Borrower, select the appropriate vesting statement EXCEPT, if two borrowers are married to each other, then select the appropriate vesting statement for only ONE of the married Borrowers, leaving the spouse's Vesting Statement blank. Do NOT select a vesting statement for both the Borrower and the spouse, or the information will print twice. To make sure the Vesting Statement is correct, click on the Borrower Vesting tab. DIGITAL DOCS will display the Vesting Statement as it is currently configured: Figure 3-ss: Borrower Vesting Tab You can manually change the Vesting Statement using this dialog. Click in the text box and overwrite the current vesting statement. When you're done, click the button, and DIGITAL DOCS will replace the Vesting Statement with what is displayed in the text box. 9. Select the Will sign by Power-of-Attorney checkbox if appropriate, then enter the name of the Attorney into the Attorney in Fact text entry box. USER'S GUIDE PAGE 3-29

62 CREATING A DOCUMENT ORDER - ENTERING CLOSING INFORMATION 10. Enter the Borrower's date of birth into the Date of Birth text box. 11. Click on the Address Information tab: Figure 3-tt: Address Information Tab 12. Enter the mailing address for the Borrower. If the mailing address for the Borrower is the same as the property, click the button. If the mailing address for a Co-Borrower is the same as the Borrower, click the button. 13. Enter the home and work phone numbers 41 for each Borrower. 14. If there is more than one Borrower, repeat all of the instructions beginning with Step 3 on page 3-27 for each Borrower. 15. Click to close the dialog, then click to save your work. Check your work The traffic light in the button should now be green. If it isn't, please read the Checking your work paragraph starting on page Entering closing information After entering all the information about the loan, the property and the borrower, the final information to be entered describes the closing. In this step, you'll: select the Title or Escrow companies; describe escrow aggregate analysis and tax and impound information; enter fees; insert closing instructions; and, designate documents to be attached. Entering general information In this step, you'll: select title or escrow companies; 41 Telephone Numbers are on Form USER'S GUIDE PAGE 3-30

63 CREATING A DOCUMENT ORDER - ENTERING CLOSING INFORMATION enter corrections to title commitments (if applicable); enter equity line information (if applicable); enter nearest living relative information (if a VA loan); and, enter funding information. To enter general information about the closing: 1. Click the button. 2. DIGITAL DOCS will open the Closing Information dialog to the General Info tab: Figure 3-uu: General Info Tab 3. Click the button, and DIGITAL DOCS will open the Title Company Information dialog: Figure 3-vv: Title Company Information Dialog Use the Company Name drop-down list box to select the title company 42. DIGITAL DOCS will fill in the rest of the information, which you can edit if needed. To save your edits, click the button. Alternatively, you can enter information about a company not currently on the list. If you wish to save the new company's information, click the button. 42 Title company information is on the Title Commitment in the loan file. USER'S GUIDE PAGE 3-31

64 CREATING A DOCUMENT ORDER - ENTERING CLOSING INFORMATION Click the button to make corrections to the Title Commitment, and DIGITAL DOCS will open the Corrections to Title Commitment dialog: Figure 3-ww: Corrections to Title Commitment Dialog Make the necessary changes, then click. DIGITAL DOCS will return you to the Title Company Information dialog. Click again, and DIGITAL DOCS will return you to the General Info tab. 4. Click the button, and DIGITAL DOCS will open the Escrow Company dialog: Figure 3-xx: Escrow Company Information Dialog Use the Company Name drop-down list box to select the escrow company 43. DIGITAL DOCS will fill in the rest of the information, which you can edit if needed. To save your edits, click the button. Alternatively, you can enter information about a company not on the list. If you wish to save the new company's information, click the button. Click, and DIGITAL DOCS will return you to the General Info tab. 43 Escrow company information is on the Contract in the Lender's loan file, and on the Loan Setup information. USER'S GUIDE PAGE 3-32

65 CREATING A DOCUMENT ORDER - ENTERING CLOSING INFORMATION 5. Click the button, and DIGITAL DOCS will open the Hazard Insurance Data dialog: Figure 3-yy: Hazard Insurance Data Dialog 6. Enter the appropriate information, then click. 7. If this is an equity-line loan 44, click the button, and DIGITAL DOCS will open the Equity Line Data dialog: Figure 3-zz: Equity Line Data Dialog Enter the required information, then click. DIGITAL DOCS will return you to the General Info tab of the Closing Information dialog. 8. If this is a VA loan, click the button, and DIGITAL DOCS will open the VA Loan Data dialog: 44 Equity-line loan information is on the Underwriter's Approval. USER'S GUIDE PAGE 3-33

66 CREATING A DOCUMENT ORDER - ENTERING CLOSING INFORMATION Figure 3-aaa: VA Loan Data Dialog Enter the required information, then click. DIGITAL DOCS will return you to the General Info tab of the Closing Information dialog. 9. If funding information is required, click the button, and DIGITAL DOCS will open the Funding Information dialog: Figure 3-bbb: Funding Information Dialog Select the Fund By radio button that corresponds with how the funds will be transferred. Enter the bank information, including the account number, into the appropriate text entry boxes. Enter the price of the loan, including all fees, into the Total Price text entry box. Enter the amount over 100% into the Premium Disc Amount text entry box. Click, and DIGITAL DOCS will return you to the General Info tab of the Closing Information dialog. USER'S GUIDE PAGE 3-34

67 CREATING A DOCUMENT ORDER - ENTERING CLOSING INFORMATION Entering escrow information In this step, you'll enter: Hazard, Mortgage, and Flood insurance payment amounts and due dates; County (and City, if required) tax payment amounts and due dates; assessment and other miscellaneous impound amounts and due dates; insurance premiums paid in advance; and, instructions to waive or transfer Escrows. To enter escrow information: 1. From the Closing Information dialog, click the Escrows tab, and DIGITAL DOCS will open the General Escrow Info sub-tab: General Escrow Info tab Figure 3-ccc: General Escrow Info Tab Select the Waive Escrows checkbox, if appropriate. Select the Authorization to Transfer Escrows, if appropriate 45. Enter any insurance premiums paid in advance into the appropriate text entry boxes. 2. Click the Aggregate Analysis tab, located on the right-hand side of the dialog (see figure below): Aggregate Analysis tab Figure 3-ddd: Aggregate Analysis Tab Use the Cushion drop-down list box to select the number of months for a cushion. 45 Authorization to transfer escrows in on the Borrower's Registration Form. USER'S GUIDE PAGE 3-35

68 CREATING A DOCUMENT ORDER - ENTERING CLOSING INFORMATION The first information in the Aggregate Analysis tab is the Hazard Insurance Impounds. Enter the annual amount of the Hazard Insurance premium 46 into the Annual Amount text entry box. DIGITAL DOCS will automatically calculate and display the monthly rate in the Payment to Escrow Account display box. Select the months in which a payment is due in the Months Payments are Due box. Click on each month in which a payment is due, or click the or buttons as appropriate. DIGITAL DOCS will display selected months in red. Click a second time on a selected month to deselect. DIGITAL DOCS will automatically calculate and display the date the next payment is due in the Next Due Date display box. Continue this process, using the scroll bar at the right of the dialog box, to enter the amounts due and the payment schedules for: Mortgage Insurance 47 (item 1002) County Property Taxes 48 (item 1004) Flood Insurance 49 (item 1006) Use the drop-down list boxes in items 1005, 1007, and 1008 to select additional impounds such as City Taxes 50, Assessments, and other Miscellaneous Impounds. Click the button, and DIGITAL DOCS will display a schedule of escrow collections and payments for the first year of the loan, based on the Escrow information entered: Figure 3-eee: Example Show First Year Dialog The Payments To column displays the anticipated receipts from the borrower (i.e. payments to the escrow account). The Payments From column displays the scheduled payments to the parties listed in the Description column. Click, and DIGITAL DOCS will display a summary of how the initial deposit is calculated: 46 Hazard Insurance information is on the copy of the policy in the file, and can also be obtained from the Borrower or the Insurance Agent. 47 Mortgage Insurance information is on the Mortgage Insurance Certificate. 48 County Tax information is on the tax certificate in the file, and on some Title Commitments. 49 Flood Insurance information is on the copy of the policy in the Lender's loan file. 50 City Tax information is on the tax certificate in the file, and on some Title Commitments. USER'S GUIDE PAGE 3-36

69 CREATING A DOCUMENT ORDER - ENTERING CLOSING INFORMATION Figure 3-fff: Aggregate Adjustment Dialog Click in the Aggregate Adjustment dialog, and DIGITAL DOCS will return you to the Escrow Account dialog. Click in the Escrow Account dialog, and DIGITAL DOCS will return you to the Aggregate Escrow sub-tab. Entering fee information In this step, you'll enter the fees to be assessed with this loan. To enter fee information: 1. From the Closing Information dialog, click on the Fees tab: Figure 3-ggg: Fees Tab 2. Use the Fee Plan drop-down list box to select how you wish to enter fees. You can enter fees using your choice of three methods: use a pre-configured list of fees specific to the Lender of choice; start with a pre-configured generic list which you can then modify (select the DD DigiDocs item); or, manually select each fee (select the No Data item). 3. Click the button, and DIGITAL DOCS will open the list of fees that might be applied to this loan, depending on the selection you made in the Fee Plan box. The figure below illustrates the DD DigiDocs list: USER'S GUIDE PAGE 3-37

70 CREATING A DOCUMENT ORDER - ENTERING CLOSING INFORMATION Figure 3-hhh: DigiDocs List of Fees 4. Update the fee amounts as needed 51. You can also add new fees and remove unused fees from this list. To add or remove fees, float your cursor over any fee, then click your right mouse button. DIGITAL DOCS will open the right-click menu: Figure 3-iii: Fee List Right-Click Menu Select the Lock HUD Column item to prevent items from being added or removed from the list. Select the Delete Current Fee item to remove the currently selected fee from the list. Note: Most users leave the list intact. Because DIGITAL DOCS will only include a fee from this dialog in the closing documents if its value is greater than $0, leaving all the fees in place for future reference is a good idea. Select the Insert Fee item to add a fee to the list. 5. For each fee required, select 52 the fee then click the button at the top lefthand corner of the spreadsheet 53. Alternatively, double-click on the selected fee. 6. DIGITAL DOCS will open the Edit Fee dialog for the selected fee: 51 Use the scroll bars to display more fees. 52 To select a fee, click in any cell in the row associated with the fee. 53 Experienced users can type this information directly into the spreadsheet. USER'S GUIDE PAGE 3-38

71 CREATING A DOCUMENT ORDER - ENTERING CLOSING INFORMATION Figure 3-jjj: Edit Fee Dialog Enter either the dollar amount in the Fee Amount text entry box or the percentage into the Fee Percent text entry box. If you entered a percentage, DIGITAL DOCS will automatically calculate and display the dollar amount. Select the Separate Check checkbox if a separate check will be cut for the fee. Select the POC checkbox if the fee is Paid Outside of Closing (i.e. Credit Reports and Appraisal fees) 54. Select the Deducted checkbox if the fee will be deducted from the Wire amount. Select the Paid to Correspondent checkbox if the fee is to be paid to a Correspondent (Broker). Use the Paid By drop-down list box to designate who will paid the fee: the Borrower, the Seller, or some Other. DIGITAL DOCS automatically sets the Affects APR checkbox based on the Fee Description and Paid By fields. You can manually select this checkbox if necessary. Select the Paid to Investor checkbox if the fee is to be paid to the assigned Investor. Use the Payee/Paid To text entry box to enter the name of the fee recipient. DIGITAL DOCS will not accept the following combinations: POC and Separate Check Deducted and Paid to Correspondent Deducted and Separate Check Deducted and POC Click to return to the Fees tab. 7. Continue editing the fees until completed, then click the button. DIGITAL DOCS will return you to the list of fees currently assigned to the loan. 54 Refer to receipts in the file for fees Paid Outside of Closing. USER'S GUIDE PAGE 3-39

72 CREATING A DOCUMENT ORDER - ENTERING CLOSING INFORMATION Entering closing instructions In this step, you'll add instructions to the closing officer. To enter closing instructions: 1. From the Closing Information dialog, click the Closing Instructions tab: Figure 3-kkk: Closing Instructions Tab This is where you select and edit instructions for the closing. To add instructions from a pre-configured list, click the button, and DIGITAL DOCS will open the list of instructions most frequently included in the closing documents: Figure 3-lll: Common Closing Conditions/Instructions Dialog Double-click on the numbered button to the left of each pre-configured closing instruction you wish to include in the closing documents. Click when done to return to the Closing Instructions dialog. To add a completely new instruction, double-click in any blank row and type in the necessary text. To edit the text of any instruction, double-click in the instruction and make the necessary changes. To delete any instructions, click the button. To select attached documents In this step, you'll designate documents to be attached to the closing documents. USER'S GUIDE PAGE 3-40

73 CREATING A DOCUMENT ORDER - CHANGING A DOCUMENT ORDER To select attached documents: 1. From the Closing Information dialog, click the Documents tab: Figure 3-mmm: Documents Tab Select the checkbox associated with each document to be attached. Click the button to select all the checkboxes. Click the button to clear all the checkboxes. 2. Click to close the dialog, then click to save your work Check your work The traffic light in the button should now be green. If it isn't, please read the Checking your work paragraph starting on page Return to the main screen Click the button to return to the main screen. Changing a document order You can change the information contained in any document order saved in DIGITAL DOCS' database. To change the information contained in a document order: 1. From the main screen, click the button. 2. DIGITAL DOCS will open the Open/Modify Document Order dialog: USER'S GUIDE PAGE 3-41

74 CREATING A DOCUMENT ORDER - CHANGING A DOCUMENT ORDER Click here to see more information about a loan. Figure 3-nnn: Open/Modify Document Order Dialog This dialog displays the following information about each document order currently stored in DIGITAL DOCS' database: Account Number, a number assigned automatically by DIGITAL DOCS; Loan Number, the number you assigned to the loan; Borrower Name; Address; Tax ID; Entry date; and, Application date. Only a few of these columns are usually visible at a time. To see the remaining columns, click on the button, and DIGITAL DOCS will scroll the display to reveal the remaining columns. You can also rearrange the columns to suit your needs. To move a column, simply click and hold your left mouse button on the heading of the column you wish to move, then drag the mouse to the new location and release the mouse button. 3. Scroll through the list of orders and double-click directly on the order you wish to change. Alternatively, enter the number of the order you wish to modify into the Loan Number text entry box, then click. You can also search for a loan based on your choice of three parameters: name, address, or Social Security number. To search the database, click the button, and DIGITAL DOCS will open the Search Database dialog: USER'S GUIDE PAGE 3-42

75 CREATING A DOCUMENT ORDER - COPYING A DOCUMENT ORDER Use these radio buttons to sort the list of Document Orders Figure 3-ooo: Search Database Dialog Enter the search parameters and click the appropriate button. You can also use the Search Database dialog to set the order in which DIGITAL DOCS will display the Document Orders in your database. Select the appropriate radio button in the Order By area of this dialog. 4. DIGITAL DOCS will close the Open/Modify Document Order dialog and enable the loan management buttons in the button bar. 5. Click the button associated with the information you wish to change. 6. Make the necessary changes, then click the button to save your work. Copying a document order You can copy an existing document order, and then modify the copy. To copy a document order: 1. From the main screen, click the button and DIGITAL DOCS will open the Utilities button bar. 2. Click the button. 3. DIGITAL DOCS will open the Database Utilities dialog: Figure 3-ppp: Database Utilities Dialog 4. Click the button, and DIGITAL DOCS will ask you for the name of the loan to rename: USER'S GUIDE PAGE 3-43

76 CREATING A DOCUMENT ORDER - RENAMING A DOCUMENT ORDER Figure 3-qqq: Name of Loan to Copy Dialog 5. Type in the name of the loan to copy, then click. 6. DIGITAL DOCS will ask you for the name of the new loan: Figure 3-rrr: New Loan Number Dialog 7. Type in the new name for the loan, then click. 8. DIGITAL DOCS will ask you to confirm this command: Figure 3-sss: Loan Copy Confirmation Dialog 9. Click, and DIGITAL DOCS will copy the loan, displaying a completion message when done: Figure 3-ttt: Loan Copy Completed Dialog 10. Click, and DIGITAL DOCS will return you to the Database Utilities dialog. 11. Click, and DIGITAL DOCS will return you to the main screen. Renaming a document order You can rename an existing document order. To rename an existing document order: 1. From the main screen, click the button and DIGITAL DOCS will open the Utilities button bar. 2. Click the button. USER'S GUIDE PAGE 3-44

77 CREATING A DOCUMENT ORDER - RENAMING A DOCUMENT ORDER 3. DIGITAL DOCS will open the Database Utilities dialog: Figure 3-uuu: Database Utilities Dialog 4. Click the button, and DIGITAL DOCS will ask you for the name of the loan to rename: Figure 3-vvv: Rename Loan Dialog 5. Type in the current name of the loan, then click. 6. DIGITAL DOCS will ask you for the new loan name: Figure 3-www: Rename Loan Dialog 7. Type in the new name for the loan, then click. 8. DIGITAL DOCS will ask you to confirm this command: Figure 3-xxx: Confirm Dialog 9. Click, and DIGITAL DOCS will rename the loan, displaying a completion message when done: Figure 3-yyy: Rename Complete Message Box USER'S GUIDE PAGE 3-45

78 CREATING A DOCUMENT ORDER - DELETING A DOCUMENT ORDER 10. Click, and DIGITAL DOCS will return you to the Database Utilities dialog. 11. Click, and DIGITAL DOCS will return you to the main screen. Deleting a document order You can remove any document order currently stored in DIGITAL DOCS' database. To remove a document order: 1. From the main screen, click the button and DIGITAL DOCS will open the Utilities button bar. 2. Click the button. 3. DIGITAL DOCS will open the Database Utilities dialog: Figure 3-zzz: Database Utilities Dialog 4. Click the button, and DIGITAL DOCS will ask you for the name of the loan to delete: Figure 3-aaaa: Delete Loan Dialog 5. Type the name of the loan you wish to delete into the Enter Loan to Delete text box, then click. 6. DIGITAL DOCS will ask you to confirm this command: Figure 3-bbbb: Loan Delete Confirmation Box 7. Click to delete, to cancel. USER'S GUIDE PAGE 3-46

79 ORDERING YOUR DOCUMENTS CHAPTER 4 - ORDERING YOUR DOCUMENTS About this chapter Printing the document order Chapter 4 - Ordering Your Documents This chapter shows you how to print your document order locally so that you can check the information for accuracy and completeness, and then how to send the information electronically to Digital Docs, Inc. Digital Docs, Inc. will then prepare the actual closing documents and return them to you either electronically (if you have Digital Delivery software) or by Airborne Express. Before sending your document order to Digital Docs, you should print it in your own office and check the information for errors and omissions. To print or view your document order: 1. From the main screen, click the button, then select the document order to be printed. 2. Check to make sure that all four traffic lights are green: Figure 4-a: All Lights Green If any light is not green, right-click on the button and select the Why Yellow? or Why Red? menu item. DIGITAL DOCS will tell you what needs to be done. 3. Click the button, and DIGITAL DOCS will ask if you wish to change the transmittal information: Figure 4-b: Update Transmittal Information Confirmation Click to review and update the transmittal information Click if the transmittal information is correct, then skip ahead to Step 10 on page DIGITAL DOCS will open the Transmittal Information dialog: USER'S GUIDE PAGE 4-1

80 ORDERING YOUR DOCUMENTS - PRINTING THE DOCUMENT ORDER Click on the Transmit Log button to review the orders you've placed in the past. Figure 4-c: Transmittal Information Dialog Update the Send To information as required, or click the button to select from a number of addresses and phone numbers for Digital Docs, Inc. Note: DIGITAL DOCS will automatically dial the call as long distance by default. If the call is local, click the button, then deselect the Dial as Long Distance Call checkbox. Open the Original/Redraw drop-down list and select either the Original or the Redraw item, as appropriate. Note There is a charge for redraws. The charge is based on loans requiring a change in the APR calculations or changes that affect the Note, Security Instrument or complete Loan Package. Update the Sent From information, or click the button to restore the default information about your company. 5. Click the button, and DIGITAL DOCS will display the Dispatch Information dialog: Figure 4-d: Dispatch Information Dialog USER'S GUIDE PAGE 4-2

81 ORDERING YOUR DOCUMENTS - PRINTING THE DOCUMENT ORDER Use the Dispatch Originals Via drop-down list box to select the method Digital Docs, Inc. should use to ship the original closing documents. Click the button to the right of the Dispatch Originals To text box, and DIGITAL DOCS will ask you where to send the originals: Figure 4-e: Document Recipients Dialog Select the radio button that corresponds with the party to receive the original closing documents, then click. DIGITAL DOCS will return you to the Dispatch Information dialog. Use the Dispatch Copies Via drop-down list box to select the method Digital Docs, Inc. should use to ship the requested copies of the closing documents. Click the button to the right of the Dispatch Copies To text box, and use the Document Recipients dialog (see Figure 4-e, above) to tell Digital Docs, Inc. where to send the copies. Type any special instructions into the Special Dispatch Requests text box. For example, Saturday delivery or the address to which a third set of documents should be sent. 6. Click the button, and DIGITAL DOCS will display the Service Level dialog: Figure 4-f: Service Level Dialog Select either the Digital Docs QC or the Digital Docs Dispatch (3D) radio button as appropriate the box inside the dialog describes each choice. Read the Limitations of Liability and, when acceptable, select the I have read and understand the level of service and limitations of liability checkbox. USER'S GUIDE PAGE 4-3

82 ORDERING YOUR DOCUMENTS - PRINTING THE DOCUMENT ORDER Select the Local Export checkbox if your offices uses LoanPilot. Contact Digital Docs, Inc. for more information about this feature. 7. Click the button, and DIGITAL DOCS will display the Attachments dialog: Figure 4-g: Attachments Dialog Use the drop-down list boxes in this dialog to designate documents sent under separate cover via fax. 8. Click the button to print the Transmittal form. Be sure and have legal-sized paper in your printer, and that the correct printer paper tray is selected. 9. Examine the printed Transmittal form for accuracy and completeness. Make any changes that might be needed, then reprint the form if required, then click. 10. DIGITAL DOCS will open the Document Order Form window: Figure 4-h: Document Order Form 11. Click the and the buttons to inspect each page of the document order form. 12. Click button to print a copy of the order. USER'S GUIDE PAGE 4-4

83 Transmitting your order ORDERING YOUR DOCUMENTS - TRANSMITTING YOUR ORDER To send your document order to Digital Docs, Inc: 1. From the main screen, click the button, then select the document order to be transmitted. 2. Check to make sure that all four traffic lights are green. 3. Click the button. 4. DIGITAL DOCS will open the Transmittal Information dialog: Figure 4-i: Transmittal Information Dialog Update the Send To information as required, or click the button to select from a number of addresses and phone numbers for Digital Docs, Inc. Note: DIGITAL DOCS will automatically dial the call as long distance by default. If the call is local, click the button, then deselect the Dial as Long Distance Call checkbox. Open the Original/Redraw drop-down list and select either the Original or the Redraw item, as appropriate. Note There is a charge for redraws. The charge is based on loans requiring a change in the APR calculations or changes that affect the Note, Security Instrument or complete Loan Package. Update the Sent From information, or click the button to restore the default information about your company. 5. Click the button, and DIGITAL DOCS will display the Dispatch Information dialog: USER'S GUIDE PAGE 4-5

84 ORDERING YOUR DOCUMENTS - TRANSMITTING YOUR ORDER Figure 4-j: Dispatch Information Dialog Use the Dispatch Originals Via drop-down list box to select the method Digital Docs, Inc. should use to ship the original closing documents. Click the button to the right of the Dispatch Originals To text box, and DIGITAL DOCS will ask you where to send the originals: Figure 4-k: Document Recipients Dialog Select the radio button that corresponds with the party to receive the original closing documents, then click. DIGITAL DOCS will return you to the Dispatch Information dialog. Use the Dispatch Copies Via drop-down list box to select the method Digital Docs, Inc. should use to ship the requested copies of the closing documents. Click the button to the right of the Dispatch Copies To text box, and use the Document Recipients dialog (see Figure 4-e, above) to tell Digital Docs, Inc. where to send the copies. Type any special instructions into the Special Dispatch Requests text box. For example, Saturday delivery or the address to which a third set of documents should be sent. 6. Click the button, and DIGITAL DOCS will display the Service Level dialog: USER'S GUIDE PAGE 4-6

85 ORDERING YOUR DOCUMENTS - TRANSMITTING YOUR ORDER Figure 4-l: Service Level Dialog Select either the Digital Docs QC or the Digital Docs Dispatch (3D) radio button as appropriate the box inside the dialog describes each choice. Read the Limitations of Liability and, when acceptable, select the I have read and understand the level of service and limitations of liability checkbox. Select the Local Export checkbox if your offices uses LoanPilot. Contact Digital Docs, Inc. for more information about this feature. 7. Click the button, and DIGITAL DOCS will display the Attachments dialog: Figure 4-m: Attachments Dialog Use the drop-down list boxes in this dialog to designate documents sent under separate cover via fax. 8. Click the button, and DIGITAL DOCS will open the Payment Information dialog: USER'S GUIDE PAGE 4-7

86 ORDERING YOUR DOCUMENTS - TRANSMITTING YOUR ORDER Figure 4-n: Payment Information Dialog Select the Select Credit Card Type radio button associated with the type of credit card you'll be using to pay for closing documents: Visa, MasterCard, Discover, or American Express. Enter the card holder's name and the card's account number as they appear on the credit card into the associated text entry boxes. Select the card's expiration date using the Month and Year drop-down list boxes. 9. Click, and DIGITAL DOCS will open the Communications Interface dialog: Figure 4-o: Communications Interface Dialog 10. Click the button. 11. DIGITAL DOCS will prepare the information for transfer to Digital Docs, Inc. When ready, DIGITAL DOCS will start your modem and dial out. After establishing a connection with Digital Docs, Inc., DIGITAL DOCS will transfer your document order and will then hang up. Note: To cancel the transfer at any time, click the button. You may need to wait while DIGITAL DOCS finishes pre-processing the document order before this button becomes available. USER'S GUIDE PAGE 4-8