Accenture Mortgage Cadence. Loan Fulfillment Center. Forms Job Aid

Transcription

1 Accenture Mortgage Cadence Loan Fulfillment Center f

2 Table of Contents FORM FORMATS UNIFORM RESIDENTIAL LOAN APPLICATION UNIFORM UNDERWRITING AND TRANSMITTAL SUMMARY Uniform Underwriting and Transmittal Summary Data APPRAISAL REQUEST Appraisal Request Data APPROVAL LETTER Approval Letter Data BINDER REQUEST Binder Request Data BORROWER S AUTHORIZATION TO RELEASE INFORMATION Borrower s Authorization to Release Information Data CONDO PROJECT QUESTIONNAIRE Condo Project Questionnaire Data CONDO WARRANTY LIMITED REVIEW CHECKLIST Condo Warranty Limited Review Checklist Data CREDIT, DEPOSIT & ASSET AUTHORIZATION Credit, Deposit & Asset Authorization Data DENIAL LETTER Denial Letter Data DENIAL LETTER WITH CREDIT SCORE Denial Letter with Credit Score Data DENIAL/COUNTER-OFFER Denial/Counter-Offer Data DENIAL/COUNTER-OFFER WITH CREDIT SCORE Denial/Counter-Offer with Credit Score Data DISBURSEMENT SHEET Disbursement Sheet Data FHA COND COMM DE STATEMENT OF APPRAISED VALUE FHA Cond Comm DE Statement of Appraised Value Data FHA FOR YOUR PROTECTION: GET A HOME INSPECTION FHA GIFT LETTER FHA Gift Letter Data FHA REQUEST FOR INSURANCE ENDORSEMENT FHA Request for Insurance Endorsement Data FHA TRANSMITTAL FOR PAYMENT OF UP FRONT MI WORKSHEET FHA Transmittal for Payment of Up Front MI Worksheet Data FHA UNDERWRITING AND TRANSMITTAL SUMMARY FHA Underwriting and Transmittal Summary Data FLOOD INSURANCE NOTIFICATION Page 1

3 Flood Insurance Notification Data GIFT AFFIDAVIT Gift Affidavit Data HAZARD INSURANCE CORRECTION LETTER Hazard Insurance Correction Letter Data HOEPA SUMMARY HOEPA Summary Data INCOMPLETE WEB APP LETTER Incomplete Web App Letter Data LOCK-IN CONFIRMATION Lock-in Confirmation Data NOTICE OF PRE-APPROVAL Notice of Pre-Approval Data PAYOFF REQUEST FORM Payoff Request Data POST CLOSING LETTER Post Closing Letter Data REG B LETTER (10-DAY LETTER) Reg B Letter (10-Day Letter) Data REQUEST FOR CERTIFICATE OF INSURANCE Request for Certificate of Insurance Data SERVICING NEW LOAN SETUP Servicing New Loan Setup Data TAX INFORMATION SHEET Tax Information Sheet Data TITLE AND ESCROW REQUEST Title and Escrow Request Data VA COUNSELING CHECKLIST FOR MILITARY HOMEBUYERS VA INTEREST RATE REDUCTION REFINANCING LOAN WORKSHEET VA LENDER CERTIFICATION VA Lender Certification Data VA LOAN ANALYSIS VA Loan Analysis Data VA LOAN DISCLOSURE VA LOAN SUMMARY VA Loan Summary Data VA REQUEST FOR A CERTIFICATE OF ELIGIBILITY VA Request for a Certificate of Eligibility Data VA TRANSMITTAL LIST VA Transmittal List Data VA VERIFICATION OF VA BENEFITS VA Verification of VA Benefits Data Page 2

4 VERBAL CONFIRMATION OF EMPLOYMENT Verbal Confirmation of Employment Data VERIFICATION OF DEPOSIT Verification of Deposit Data VERIFICATION OF EMPLOYMENT Verification of Employment Data VERIFICATION OF LOAN Verification of Loan Data VERIFICATION OF MORTGAGE/RENT/CONTRACT Verification of Mortgage/Rent/Contract Data VERIFICATION OF SECURITIES Verification of Securities Data WIRE TRANSFER FIRST MORTGAGE Wire Transfer First Mortgage Data OUTGOING MORTGAGE WIRE TRANSFER PURCHASE MONEY SECOND Wire Transfer Purchase Money Second Data WIRE TRANSFER SECOND MORTGAGE Wire Transfer Second Mortgage Data EXHIBITS Page 3

5 Overview The Loan Fulfillment Center Forms Guide is designed to provide an overview of all of the forms that are included in the default path. The table below will provide a high-level overview of the forms and their purpose. # Form Purpose Page Uniform Residential Loan Application 1008 Uniform Underwriting and Transmittal Summary 3 Appraisal Request 4 Approval Letter 5 Binder Request Borrower s Authorization to Release Information Condo Project Questionnaire Condo Warranty Limited Review Checklist Credit, Deposit & Asset Authorization 10 Denial Letter 11 Denial Letter with Credit Score 12 Denial/Counter-Offer 13 Denial/Counter-Offer with Credit Score Mortgage industry standard form that captures relevant financial information about an applicant(s) 9 Summarize key information of the loan that is used to make underwriting decision 10 Used to request an appraisal from a vendor outside of the Order Services system Provide information to the borrower regarding the conditions and terms of Mortgage Loan Approval Used to request a Hazard Insurance Binder from the Hazard Insurance company Obtain authorization from the borrower(s) to obtain and use a credit report in association with their FHA/VA loan application 25 Request information regarding a condominium project Request a limited review of a condominium subject property Obtain authorization from the borrower(s) to obtain and use a credit report in association with their Conventional loan application Inform the borrower that their application has been denied or terminated, and the associated reasons for the action Inform the borrower that their application has been denied or terminated, and the associated reasons for the action. Only applies when credit report was factor in denial decision. Inform the borrower that their application has not been approved as submitted but would be approved based on the changes made by an underwriter as well as the associated reasons for the action Inform the borrower that their application has not been approved as submitted but would be approved based on the changes made by an underwriter as well as the associated reasons for the action. Only applies when credit report was factor in denial decision Page 4

6 Overview The Loan Fulfillment Center Forms Guide is designed to provide an overview of all of the forms that are included in the default path. The table below will provide a high-level overview of the forms and their purpose. # Form Purpose Page 14 Disbursement Sheet Determine all the closing costs, pre-paid expenses, payoffs and obligations to calculate amount to dispersed at closing Also used for HE Funding functionality on non-lfc sites FHA Cond Comm DE Statement of Appraised Value Form that is required by HUD which provides details on the subject property and the underwriter that reviewed the appraisal FHA For Your Protection: Get a Home Inspection For loans involving FHA mortgage insurance on an existing property FHA Gift Letter Obtain written verification of funds provided to a borrower from a third party, as a gift for down payment on FHA loans. FHA loans require the borrower(s) to sign the gift letter along with the donor so the only difference between this form and the Gift Affidavit in the forms library is the signature fields for the borrower(s) and some additional language at the bottom of the form FHA Request for Insurance Endorsement FHA Transmittal for Payment of Up Front MI Worksheet To gather all of the required information before entering a request for insurance endorsement online 48 To send the HUD form for Transmittal for Payment of Upfront MIP FHA Underwriting and Transmittal Summary The lender completes and submits to the VA after closing. It summarizes key information utilized in the comprehensive risk assessment of the mortgage and the final underwriting decision Flood Insurance Notification Inform the borrowers that the subject property currently requires flood insurance Gift Affidavit Obtain written verification of funds provided to a borrower from a third-party as a gift for down payment Hazard Insurance Correction Letter Notify the hazard insurance provider of any updates to the current mortgagee or servicing information HOEPA Summary Gives the results of the Section 32/HOEPA test for the subject loan Incomplete Web App Letter Notify the borrower that they have begun an application on the website but have failed to complete the application in a timely manner. The letter offers assistance on how to complete or cancel the application Lock-in Confirmation Provide confirmation to the borrowers that the chosen rate and point combination has been reserved as well as indicates the conditions of the rate lock 73 Page 5

7 Overview The Loan Fulfillment Center Forms Guide is designed to provide an overview of all of the forms that are included in the default path. The table below will provide a high-level overview of the forms and their purpose. # Form Purpose Page 27 Notice of Pre-Approval 28 Payoff Request Form 29 Post Closing Letter Reg B Letter (10-Day Letter) Request for Certificate of Insurance Servicing New Loan Setup 33 Tax Information Sheet Title and Escrow Request VA Counseling Checklist for Military Homebuyers VA Interest Rate Reduction Refinancing Loan Worksheet 37 VA Lender Certification 38 VA Loan Analysis 39 VA Loan Disclosure 40 VA Loan Summary 41 VA Request for a Certificate of Eligibility 42 VA Transmittal List Notify the borrower of the pre-approval status of the loan application such that they can confidently shop for a home within a particular price range Request a payoff for a liability marked as Paid in the loan application Notify the borrower(s) that there has been a change to the closing date of the loan or to provide a copy of the initial Truthin-Lending to keep for their records Notify the borrower they are required to provide specific information regarding their loan in a timely fashion or the lender will consider the loan application canceled Request a hazard insurance binder from the condo association for borrowers purchasing a condominium Provide the information necessary to manually set up a loan within a servicing system Request the information regarding real estate taxes for the subject property. Request the Title and Escrow from the Title Company, and provides the relevant information required to complete the task Used for borrowers who are in the military and on active duty To be completed by the lender for a borrower who is applying for a VA loan to calculate the maximum loan amount. 89 To be submitted by the borrower to the VA in order to receive a certification of eligibility required for VA home loan benefits This form is part of a package of forms submitted to the VA at closing to report the loan Required form that borrower needs to complete and sign prior to funding This form is part of a package of forms submitted to the VA at closing to report the loan Submitted by the borrower to the VA in order to receive a certification of eligibility required for VA home loan benefits This form is part of a package of forms submitted to the VA at closing to report the loan Page 6

8 Overview The Loan Fulfillment Center Forms Guide is designed to provide an overview of all of the forms that are included in the default path. The table below will provide a high-level overview of the forms and their purpose. # Form Purpose Page VA Verification of VA Benefit Verbal Confirmation of Employment To be completed by the borrower who wants to apply for a VA loan to determine eligibility Document verbal verification of the applicant's past and present employment status 45 Verification of Deposit Verify the applicant's assets Verification of Employment 47 Verification of Loan Verification of Mortgage/Rent/Contra ct Verification of Securities Wire Transfer First Mortgage Outgoing Mortgage Wire Transfer Purchase Money Second Wire Transfer Second Mortgage Verify the applicant's past and present employment status Validate information supplied by a potential borrower on a loan application regarding the payment history and amount owing on the borrower's existing mortgage Verify the applicant's mortgage or rental payments, when the applicant is applying for a conventional first or second mortgage Validate the securities that the applicant listed on the loan application Request wire transfers for the funding of a first mortgage loan Request a wire transfer for the funding of a Purchase Money Second loan Provide the ability to fund Home Equity loans from the Loan Officer Workbench for Non LFC sites (Used in HE Funding functionality) Page 7

9 Form Formats The following formats are employed to render forms. Dynamic PDF - All standard forms are dynamically generated forms that run from a Crystal program that uses pdf as the output format and can map most loan data. It cannot output in Word format. Static PDF Sample must be provided by client and these contain no loan data mapping but can be manually edited by the user in designated fields MS Word DOC Sample must be provided by client and no mapping available but fully editable HTML The 1003 renders as an HTML document and is the sole form to use that format Page 8

10 1003 Uniform Residential Loan Application The purpose of the 1003 Application is a mortgage industry standard form that captures relevant financial and property information about borrowers, who apply for a conventional one to fourfamily mortgage loan. This form renders as an HTML document. Note: There is direct field-to-field data mapping from the Edit Click here to see the 1003 Uniform Residential Loan Application Form. Page 9

11 1008 Uniform Underwriting and Transmittal Summary The purpose of the 1008 Uniform Underwriting and Transmittal Summary Form is to Summarize key information used in the comprehensive risk assessment of the mortgage and the final underwriting decision, such as loan purpose, property type, proposed monthly expenses, and debt ratios for manually processed applications related to single family conventional first and second mortgages. Click here to see the 1008 Uniform Underwriting and Transmittal Summary Form Uniform Underwriting and Transmittal Summary Data 1008 Uniform Underwriting and Transmittal Summary Data Borrower Name SSN (Borrower) Co-Borrower name SSN (Co-Borrower) Property Address Property Type Project Classification Occupancy Status Number of Units Sales Price Appraised Value Property Rights Project Name CPM Project ID# (if any) Loan Type Edit 1003 Borrower Information Edit 1003 Borrower Information SSN Edit 1003 Co-Borrower Information Edit 1003 Co-Borrower Information SSN Edit 1003 Types, Terms, Prop Address, City, State, Zip Edit 1003 Additional Data Subject Property Type For sites that are configured to use both Fannie Mae DU and Freddie Mac LP for automated underwriting, the Project Classification drop-list is located in the Edit 1003/LP Additional Data page or in Path Doc Prep Verify Title Project Classification If your site is configured to use only Fannie Mae DU for automated underwriting, you will find the Project Classification field here: Loan Summary/Loan Data/Property Page or in Path Doc Prep Verify Title Project Classification Edit 1003 Property Information and Purpose of loan Property will be Edit 1003 Property Information and Purpose of loan Number of Units Path Review Application Update Purchase Information Purchase Price Edit 1003 Additional Data Property Appraised Value OR Process and Validate Verify Appraisal Appraised Value (both fields are linked) Edit 1003 Property Information and Purpose of loan Estate Held In Path Doc Prep Verify Title Condo Name Path Doc Prep Verify Title CPM Project ID Edit 1003 Type of Mortgage and Terms of Loan Mortgage Applied For OR based on the product selected Page 10

12 1008 Uniform Underwriting and Transmittal Summary Data Amortization Type Loan Purpose Lien Position Amount of Subordinate Financing Original Loan Amount Initial P&I Payment Initial Note Rate Loan Term (in months) Mortgage Originator Buydown If Second Mortgage Section Broker/Correspondent Name and Company Name: Original Loan Amount of First Mortgage Underwriter s Name Appraiser s Name/License# Appraisal Company Name Edit 1003 Type of Mortgage and Terms of Loan Amortization Type which is based on the product selected AND Edit 1003 Type of Mortgage and Terms of Loan Amortization Description will populate the description here as well and is adjustable Edit 1003 Property Information and Purpose of loan Purpose of Loan Edit 1003 Additional Data Lien Type Edit 1003 Details of Transaction New Subordinate Financing (if you create a combination first and second transaction however make sure to change this loan amount both here and in the new correspondent loan ID for both) Edit 1003 Type of Mortgage and Terms of Loan Total Loan Amount Edit 1003 Income, Housing First Mortgage (P&I) based on the product and rate selected so this is not an editable field Based on Product and correspondent Rate and Points selected in pricing the loan OR Edit 1003 Type of Mortgage and Terms of Loan Interest Rate (not editable field since dependent on product and rate selected) Edit 1003 Type of Mortgage and Terms of Loan Amortization Term Does not map Edit 1003 Additional Data Is this a temporary buydown? Does not map Does not map Does not map Staff Assignment Underwriter OR Path Underwriting Manual UW Decision Underwriter ID Since both are linked together. The default data for this field maps from Attention Name field in Related Party for Appraisal Company. This is indicated in Process & Validate Order Out Appraisal Company Select dropdown field That will only pull over the Appraiser name however and not the License # The Appraiser License # maps from Process & Validate Verify Appraisal Appraiser License Number The Appraiser Name can override what is in the related party by updated the field in Process & Validate Verify Appraisal Appraiser Name Path Process & Validate Order Out Appraisal Company Select based on what is configured in the Related Party Editor for Appraisal Company or Edit 1003 LP Additional Loan data if site is configured and product selected is for Freddie Mac. Page 11

13 1008 Uniform Underwriting and Transmittal Summary Data Base Income (borrower) Other Income (Borrower) Positive Cash Flow Subject Property (Borrower) Total Income (Borrower) Base Income (Coborrower) Other Income (Co- Borrower) Positive Cash Flow Subject Property (Co- Borrower) Total Income (Co- Borrower) Base Income (Total) Other Income (Total) Positive Cash Flow Subject Property (Total) Total Income (Total) Present Housing Payment Proposed Monthly Payments First Mortgage P&I Edit 1003 Income, Housing Base Income (Borrower) Edit 1003 Income, Housing Other Income (Borrower) Edit 1003 Income, Housing Base Income (Borrower) For negative rental income, if the subject property is an investment, enter in the projected rental income, as well as all the corresponding tax/ins/mi for the property. The system will automatically calculate the net positive or negative rental income (bear in mind the system will calculate only 75% of the total project gross rental income you input to qualify). You can manually change the number in the Do you have any other sources of income section of the application under Net Rental income. You can enter a negative amount but I wouldn't recommend that because though the actual debt to income ratio will be correct on the loan summary page it will throw off the net rental income or total income amounts since the system will show what it automatically calculated. Automatically calculated by system and mapped Edit 1003 Income, Housing Base Income (Co-Borrower) Edit 1003 Income, Housing Other Income (Co-Borrower) Edit 1003 Income, Housing Base Income (Co-Borrower) For negative rental income, if the subject property is an investment, enter in the projected rental income, as well as all the corresponding tax/ins/mi for the property. The system will automatically calculate the net positive or negative rental income (bear in mind the system will calculate only 75% of the total project gross rental income you input to qualify). You can manually change the number in the Do you have any other sources of income section of the application under Net Rental income. You can enter a negative amount but I wouldn't recommend that because though the actual debt to income ratio will be correct on the loan summary page it will throw off the net rental income or total income amounts since the system will show what it automatically calculated. Automatically calculated by system and mapped Automatically calculated by system and mapped Automatically calculated by system and mapped Automatically calculated by system and mapped Automatically calculated by system and mapped Edit 1003 Income, Housing Combined Housing Expense Section Total present housing expense between all borrowers Edit 1003 Income, Housing Combined Housing Expense Section First Mortgage (P&I) under proposed column Page 12

14 1008 Uniform Underwriting and Transmittal Summary Data Second Mortgage P&I Hazard Insurance Taxes Edit 1003 Income, Housing Combined Housing Expense Section Other Financing (P&I) under proposed column Edit 1003 Income, Housing Combined Housing Expense Section Hazard Insurance under proposed column Edit 1003 Income, Housing Combined Housing Expense Section Real Estate Taxes under proposed column Mortgage Insurance Edit 1003 Income, Housing Combined Housing Expense Section Mortgage Insurance under proposed column HOA Fees Edit 1003 Income, Housing Combined Housing Expense Section Homeowner Assn Dues under proposed column Lease/Ground Rent Other Total Primary Housing Expense Negative Cash Flow (subject Property) All Other Monthly Payments Total All Monthly Payments Qualifying Ratios Primary Housing Expense/Income Total Obligations/Income If loan purpose = Second Mortgage AND Occupancy = Owner Occupied AND Declaration letter l = Y THEN This value will be the total of both current and proposed rent values in Edit 1003 Income, Housing screen in the Combined Housing Expense section Else If loan purpose = anything but Second Mortgage AND Occupancy = Owner Occupied AND Declaration letter l = Y THEN This value will be the total of only the proposed rent values in Edit 1003 Income, Housing screen in the Combined Housing Expense section. Ultimately this means that the value will always be $0 since the system does not allow for proposed rent on an owner occupied subject property Else All other transaction besides the two indicated above will pull this value from the total of all current rent values in Edit 1003 Income, Housing screen in the Combined Housing Expense section Edit 1003 Income, Housing Combined Housing Expense Section Other under proposed column Automatically calculated by system and mapped Automatically calculated by system and mapped [(Gross Rental Income on subject.75) all monthly expenses on subject, i.e., tax, ins, MI, HOA, and other] All monthly payments from Liabilities page including additional expenses section (i.e., alimony, child support) as well as any negative rental income on properties other than subject property Automatically calculated by system and mapped (Total Primary Housing Expense + Negative Cash Flow (subject Property) + All Other Monthly Payments) Automatically calculated by system and mapped [Total Primary Housing Expense / Total Income (Total)] Automatically calculated by system and mapped [Total All Monthly Payments / Total Income (Total)] Page 13

15 1008 Uniform Underwriting and Transmittal Summary Data Debt to Housing Gap Ratio (Freddie) Loan to Value Ratios LTV Does not map Automatically calculated by system and mapped [Original loan Amount / Lower of the Sales Price or Appraised Value] CLTV/TLTV Automatically calculated by system and mapped [(Original loan Amount + Amount of total Subordinate Financing if HELOC then only include amount drawn at close)/lower of the Sales Price or Appraised Value] HCLTV/HTLTV Automatically calculated by system and mapped [Same as CLTV/TLTV except if the subordinate financing is going to be a HELOC and draw at close will be less than the max allowed then the calculation would be (Original loan Amount + Total Line of Credit whether drawn or not drawn at close) / Lower of the Sales Price or Appraised Value] Qualifying Rate Section Note Rate Interest Rate from Loan Summary Screen, which is based on Lender Specific configuration in Product, Rate, and Pricing Editors (Note Rate from rate sheet plus/minus any applicable rate adjustments from the Pricing Editor). % Above Note Rate is based on configuration from the following location: % Below Note Rate Does not map Content Editors Product Editor Select Product Qualifying Rate Method If this field is set to Note Rate Plus % Then the system will take the Starting note rate from the rate sheet and add the value input in Product Editor Qual. Rate Plus % (this value will function either as positive or negative) Plus or minus any applicable rate adjustments from the pricing Editor. This value will appear in the Qualifying Rate field on the loan summary and will be used to calculate the P&I for qualifying on the Bought-Down Rate Does not map Page 14

16 1008 Uniform Underwriting and Transmittal Summary Data Other Level of Property Review is based on configuration from the following location: Content Editors Product Editor Select Product Qualifying Rate Method If this field is set to Greater of Fully Indexed Rate or Note Rate, the system will use the starting Note Rate from the rate sheet and add or subtract any applicable rate adjustments from the Pricing Editor. It will then compare it against the Initial Margin from the Product Editor and add the ARM Index, (initially set on the daily rate sheet or can be manually edited at the loan level in the Edit 1003 ARM details screen) which is the fully indexed rate. Rate adjustments do not apply to the fully indexed rate. The higher of the two values will display in the Qualifying Rate field on the Loan Summary screen and will be used to calculate the P&I for qualifying on the If this field is set to Greater of Fully Indexed Rate or Note Rate Plus %, the system will use the Initial Margin from the Product Editor and add the ARM Index, (initially set on the daily rate sheet or can be manually edited at the loan level in Edit 1003 ARM details screen) which is the fully indexed rate. Rate adjustments do not apply to the fully indexed rate. Then compares it against the starting Note Rate from the rate sheet and adds the Value entered in the Product Editor Qual. Rate Plus % (this value will function either as a positive or negative) plus or minus any applicable rate adjustments from the Pricing Editor. The higher of the two values will display in the Qualifying Rate field on the Loan Summary screen and will be used to calculate the P&I for qualifying on the Entire section does not map. Section includes: Exterior/Interior Exterior Only No Appraisal Form Number Risk Assessment Manual Underwriting AUS DU LP Other FICO Decision AUS Recommendation DU Case ID/LP AUS Key# LP Doc Class (Freddie) Path Underwriting Initial UW Review l Manual Underwritten Loan - Loan Delivery Yes Checked for loans that go through AUS Automatically populates when a loan is run through Freddie Mac LP Automatically populates when a loan is run through Fannie Mae DU Automatically populates if underwriting second was ordered Automatically populates from LP Outcome or DU Findings in Order Service Automatically populates with the LP AUS Key # when run through LP or automatically populates with the DU Case ID when run through DU Automatically populates with LP Doc Class value Page 15

17 1008 Uniform Underwriting and Transmittal Summary Data Representative Credit/ Indicator Score Escrow (T&I) Borrower Funds to Close Required Verified Assets Order Services Screen Credit Report Middle of 3 scores or lower of 2, or if single credit bureau, that will display. If there are multiple borrowers, the lowest of the middle score from all borrowers will display. This field is not affected by the Credit Score Method Editor or from AUS. Edit 1003 Additional Data Will Escrow be Waived OR Path Review Application Update Impounds Escrow s Waived OR Path Doc Prep Verify Fees and Impounds Escrow s Waived since all are linked Edit 1003 Transaction Details Cash From Borrower Required Funds = Total Costs (Purchase Price/Refinance Amt + Alterations, Improvements, repairs + Land + estimated Prepaids + PMI, MIP, Funding Fee + Discount) Subordinate Financing Seller Paid Closing costs Other Credits Total Loan Amount The total amount of Assets entered in the Edit 1003 Assets Screen Page 16

18 1008 Uniform Underwriting and Transmittal Summary Data Source of Funds Edit 1003 Types/Terms/Prop Down Payment Information section Source of Down Payments field Note: It is not a direct mapping from the field in Edit 1003 to the form. The following conversion applies: Value seen in the Edit 1003 and Value seen on the form. 1 Checking/Savings 2 Deposit on Sales Contract 3 Equity on Sold Property 4 Equity from Pending Sale 5 Equity from Subject Property 6 Cash - Gift 7 Stocks and Bonds 8 Lot Equity 9 Financing Secured by Same Property 10 Cash Borrowed 11 Trust Funds 12 Retirement Funds 13 Rent with Option to Purchase 14 Life Insurance Cash Value 15 Sale of Chattel 16 Trade Equity 17 Sweat Equity 18 Cash on Hand 19 Other Type of Down Payment 20 Secured Borrower Funds 21 FHA Gift Employer 22 FHA Gift Gov t Assist 23 FHA Gift N/A 24 FHA Gift Non-Seller Funded 25 FHA Gift Seller Funded 26 FHA Gift - Relative Page 17

19 1008 Uniform Underwriting and Transmittal Summary Data No. of Months Reserves Interested Party Contributions Community Lending/ Affordable Housing Initiative Home Buyers/ Homeownership Education Certificate in file Underwriter Comments Seller Name Seller Address Seller No Seller Loan No Investor Loan No Contact Name Contact Title Contact Phone Number (ext does not map) The value that maps to this field is based on the following equation and is always rounded down to the closest whole number: Total Verified Assets Total Costs Sub Fin Loan Amt. Total Proposed monthly pymt To clarify the variables above: Total Verified Assets = Edit 1003 Assets Total of all cash values from the Assets section only (Life Insurance and Automobiles section values are not included) Total Costs Sub Fin Loan Amt = This value can simply be found in Edit 1003 Transaction Details Cash from Borrower field. If the Total Loan Amount is greater than the Total Costs in the Details of Transaction section then the Cash from Borrower should be added to the Total Verified Assets value from above instead of subtracted as the system recognizes it as proceeds or additional assets. Total Proposed Monthly Pymt = Total Proposed Payment Value from Loan summary screen Note: If PITI = 0 then this field is blank Also on the form itself: Verified Assets Required/Total Al Monthly Payments = reserves Edit 1003 Transaction Details Borrower s Closing Costs Paid By Seller depends on product selected in the Product Editor. If Community Lending field is selected then the Yes checkbox is selected otherwise the No checkbox is selected. Edit 1003 Additional Data Homebuyer Education Certificate Received OR Path Underwriting Manual UW Decision Homebuyer Education Certificate Received since they are linked. Path Underwriting Manual UW Decision Underwriting Comments Maps from The Institution Name field of the Institution that the loan was entered under Maps from The Address 1, Address 2, City, State, Zip Code fields of the Institution that the loan was entered under Web Admin Institution Editor FNMA Seller Number Does not map Does not map Staff Assignment MLC Web Admin Content Editors User Administration Job Title of the person selected as MLC in Staff Assignment for the loan Web Admin Content Editors User Administration Phone of the person selected as MLC in Staff Assignment for the loan Page 18

20 Appraisal Request The purpose of the Appraisal Request Form is used to request an appraisal from a vendor outside of the Order Services system. This form will be given to the appraisal company. Click here to see the Appraisal Request Form. Appraisal Request Data Appraisal Request Form Data Logo Loan Number Date Ordered Requested By Phone Number Fax Number Sales Price Loan Amount Market Value Loan Type Borrower s Name Borrower Home Phone Borrower Work Phone Co-Borrower(s) Borrower s Address Subject Property Address Property Type Short Legal Tax ID # If site is skinned then the Logo can be manually changed in the following Editor: Content Editors Content Manager Select Institution Site Configuration Site Design Config Upload Image 1 The field populates with the Loan ID or Servicer Loan, whichever is configured. Captures the date the form is printed. Captures logged in user s First and Last Name, followed by the Institution Name and Address from the Related Party Editor. Captures logged in user s Phone Number from the Related Party Editor. Captures logged in user s FAX Number from the Related Party Editor. Does not map and always displays Not Shown Does not map and always displays Not Shown Does not map and is left blank Edit 1003 Type/Terms/Prop Purpose of Loan and if it is a refinance then it will pull from the Edit 1003 Type/Terms/Prop Purpose of Refinance Edit 1003 Borrower Information Edit 1003 Borrower Information Home Phone Edit 1003 Borrower Information Work Phone Edit 1003 Co-Borrower Information Edit 1003 Borrower Information Present Address Edit 1003 Types/Terms/Prop Address, City, State, Zip Code fields Edit 1003 Additional Data Subject Property Type Path Doc Prep Verify Title Legal Description (Short) Path Doc Prep Verify Title Subject Property Parcel Number County Edit 1003 Types/Terms/Prop County OR Path Doc Prep Verify Title Property County Owner of Records (Seller) Path Review Application Update Purchase Information Seller First Name and Last Name Page 19

21 Appraisal Request Form Data Property Access Listing Agent Listing Agent s Phone Number Property Access Selling Agent Selling Agent s Phone Number Appraisal must be received by Appraiser s name Phone Number Fax Number Appraiser s Address Appraisal type(s) Additional Information Notes Path Review Application Update Purchase Information Listing Agent Name Path Review Application Update Purchase Information (Selling agent name) Phone Path Review Application Update Purchase Information Selling Agent Name Path Review Application Update Purchase Information (Selling agent name) Phone Path Process and Validate Order Out Appraisal Requested Due Date Path Process & Validate Order Out Appraisal Company Select (setup in Appraisal Company Related Party Editor) Phone number of Appraisal Company Related Party selected above Fax number of Appraisal Company Related Party selected above Appraisal of Appraisal Company Related Party selected above Path Process & Validate Order Out Appraisal Type OR Path Process and Validate Verify Appraisal Appraisal Type since they are linked Note: The Other field with the checkbox next to it does not map anything Does not map and will always display Purchase and sale agreement attached as static content. Path Process and Validate Order Out Manual Appraisal Order Form Notes Page 20

22 Approval Letter The purpose of the Approval Letter Form is to provide information to the borrower regarding the conditions and terms of Mortgage Loan Approval. Click here to see the Approval Letter Form. Approval Letter Data Approval Letter Data Logo Current Date Borrower1 Borrower2 Borrower Address Borrower City/St/Zip Application Date Loan Number Subject Property Loan Amount Term in Months Loan Program Purchase Price Condition Desc/Condition Notes Date Credit Expires If site is skinned then the Logo can be manually changed in the following Editor: Content Editors Content Manager Select Institution Site Configuration Site Design Config Upload Image 1 Today s Date Edit 1003 Borrower Information Edit 1003 Co-Borrower Information Edit 1003 Present Address Street Address Edit 1003 Present Address City, State, Zip Code This date is pulled from when the application was submitted. This is an internal date that cannot be edited but can be verified on the Loan Summary Screen App Submitted Date Loan ID or Servicer Loan Number whichever is configured Edit 1003 Types/Terms/Prop Address, City, State, Zip Code Edit 1003 Type of Mortgage and Terms of Loan Base Loan Amount Edit 1003 Type of Mortgage and Terms of Loan Amortization Term Edit 1003 Type of Mortgage and Terms of Loan Mortgage Applied For OR based on the product selected Path Review Application Update Purchase Information Purchase Price Map from Conditions Screen. Any Conditions that are in the status of Requested or Outstanding AND populates with the Consumer Conditions Status Screen language entered. Maps the date selected in the Credit Approval Date field in the Path and adds 90 days to that date. This field is in multiple locations and is linked. The three locations are as follows: Path Review Application Confirm Application Information Credit Approval Date Path Process and Validate Final Automated UW Review Credit Approval Date Path Underwriting Manual UW Decision Credit Approval Date Page 21

23 Approval Letter Data Signature Section Footer Captures logged in user s First and Last Name, Last Name, , Phone, and FAX numbers from the User Administration Editor Institution Editor Page 22

24 Binder Request The purpose of the Binder Request is to request a Hazard Insurance Binder from the Hazard Insurance Company. Binder Request Data Binder Request Data Logo Date To From Fax If site is skinned then the Logo can be manually changed in the following Editor: Content Editors Content Manager Select Institution Site Configuration Site Design Config Upload Image 1 Captures the date the form is printed. Maps the Company Name field from the Hazard Insurance Provider in the Related Party Editor and the Attention Name field from the Hazard Insurance Provider in the Related Party Editor Captures logged in user who requests the form and populates the First and Last Name from the Related Party Editor. Maps the FAX field from the Hazard Insurance Provider in the Related Party Editor or Process & Validate Verify Hazard Insurance Fax from the Path Regarding Borrower 1 First and Last Name from the Edit 1003 Phone Policy Number Premiums will be paid by: Lien Status: Sales Price Borrower Co-Borrower(s) Property Address City/State/Zip Effective Date Premium Paid Loan Number Maps the Phone Number field from the Hazard Insurance Provider in the Related Party Editor or Process & Validate Verify Hazard Insurance Phone from the Path Process & Validate Verify Hazard Insurance Policy Number Maps the field from the Hazard Insurance Provider in the Related Party Editor or Process & Validate Verify Hazard Insurance from the Path Does not map Does not map For a Purchase Transaction: Path Review Application Update Purchase Information Purchase Price For a Refinance or HELOC: Does not map Edit 1003 Borrower Information Borrower first and last name Edit 1003 Borrower Information Co-Borrower first and last name Edit 1003 Types/Terms/Prop Address Edit 1003 Types/Terms/Prop City, State and Zip Code Process & Validate Verify Hazard Insurance Policy Effective Date Does not map Loan ID Page 23

25 Binder Request Data Mortgagee Clause Send binder to information Notes Footer The Mortgagee Clause on this form can be manually changed in the following editors: Content Editors Content Manager Select Institution Site Configuration Disclosure Information Loss Payee Name Editor on the first line then Loss Payee Message on the second line then Loss Payee Address 1 followed by Loss Payee Address 2 on the third line and it may continue onto a fourth line and the last line is mapped from Loss Payee City, State, and Zip Code Editor Captures logged in user s First Name, Last Name, Phone Number, and FAX number from the User Administration Editor. Does not map Institution Editor Page 24

26 Borrower s Authorization to Release Information The purpose of the Borrower s Authorization to Release Information Form is to obtain authorization from the borrower to obtain and use a credit report in association with their loan application. Note: This form is virtually identical to the Credit, Deposit & Asset Information standard form except this form includes some FHA/VA language from HUD at the end so should be used for FHA/VA loans while the Credit, Deposit & Asset Information should be used for conventional loans. Click here to see the Borrower s Authorization to Release Information Form. Borrower s Authorization to Release Information Data Borrower s Authorization to Release Information Data Logo Borrower Date Co-Borrower Property Address City/State/Zip Institution applied with Information required by Borrower s Signature Social Security Number Date Borrower s Address City/State/Zip Co-Borrower s Signature Co-Borrower s Social Security Number If site is skinned, the Logo can be manually changed in the following Editor: Content Editors Content Manager Select Institution Site Configuration Site Design Config Upload Image 1 Edit 1003 Borrower Information Borrower Name Captures the date the form is printed. Edit 1003 Borrower Information Co-Borrower Name Edit 1003 Types/Terms/Prop Address Edit 1003 Types/Terms/Prop City, State, Zip Code Institution Editor Institution Editor Blank Blank Blank Edit 1003 Borrower Information Present Address Street Address Edit 1003 Borrower Information Present Address City, State, and Zip Code Blank Blank Page 25

27 Borrower s Authorization to Release Information Data Date Co-Borrower s Address City/State/Zip Footer Blank Edit 1003 Co-Borrower Information Present Address Edit 1003 Co-Borrower Information Present Address City, State, and Zip Code Institution Editor Page 26

28 Condo Project Questionnaire The purpose of the Condo Project Questionnaire Form is to request information regarding a condominium project. The association, property, or development manager of the condominium will complete this form. Click here to see the Condo Project Questionnaire Form. Condo Project Questionnaire Data Condo Project Questionnaire Data Logo Borrower Name Subject Property Street Address Subject Property City/St/Zip Loan Number Project Name Project City/State/Zip General Information through Certification Return To If site is skinned, the Logo can be manually changed in the following Editor: Content Editors Content Manager Select Institution Site Configuration Site Design Config Upload Image 1 Edit 1003 Borrower Information Edit 1003 Types/Terms/Prop Property Information section Address Edit 1003 Types/Terms/Prop Property Information section City, State, Zip Code Loan ID Path Doc Prep Verify Title Condo Name Edit 1003 Types/Terms/Prop Property Information section City, State, Zip Code All fields in the General Information through Certification sections are left blank for the Association/Property Manager to manually complete. Captures logged in user s First and Last Name, Phone Number, and FAX number from the User Administration Editor. Page 27

29 Condo Warranty Limited Review Checklist The purpose of the Condo Warranty Limited Review Checklist is to request a limited review of a condominium subject property. Click here to see the Condo Warranty Limited Review Checklist. Condo Warranty Limited Review Checklist Data Condo Warranty Limited Review Data Project Name Project Address Project Address City/St/Zip Borrower Name Loan Number All fields below Loan Number and above Date Date Signature Phone Path Doc Prep Verify Title Condo Name Edit 1003 Types/Terms/Prop Property Information section Address Edit 1003 Types/Terms/Prop Property Information section City, State, Zip Code Edit 1003 Borrower Information Loan ID Blank The date the form is opened or printed. Blank Captures logged in user s Phone Number from the User Administration Editor. Page 28

30 Credit, Deposit & Asset Authorization The purpose of the Credit, Deposit & Asset Authorization Form is to obtain authorization from the borrower to obtain and use a credit report in association with their loan application. Note: This form is virtually identical to the Borrower s Authorization to Release Information standard form except this form does not include the FHA/VA language from HUD at the end so should this form should only be used for conventional loans. Click here to see the Credit, Deposit & Asset Authorization Form. Credit, Deposit & Asset Authorization Data Credit, Deposit & Asset Authorization Data Logo Borrower Date Co-Borrower Property Address City/State/Zip Institution applied with Information required by Borrower s Signature Social Security Number Date Borrower s Address City/State/Zip Co-Borrower s Signature Co-Borrower s Social Security Number Date Co-Borrower s Address City/State/Zip Footer If site is skinned, the Logo can be manually changed in the following Editor: Content Editors Content Manager Select Institution Site Configuration Site Design Config Upload Image 1 Edit 1003 Borrower Information Borrower Name The date the form is printed. Edit 1003 Borrower Information Co-Borrower Name Edit 1003 Types/Terms/Prop Address field Edit 1003 Types/Terms/Prop City, State, Zip Code fields Institution Editor Institution Editor Blank Edit 1003 Borrower Information SSN Blank Edit 1003 Borrower Information Present Address Street Address Edit 1003 Borrower Information Present Address City, State, and Zip Code Blank Edit 1003 Co-Borrower Information SSN Blank Edit 1003 Co-Borrower Information Present Address Street Address Edit 1003 Co-Borrower Information Present Address City, State, and Zip Code Institution Editor Page 29

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32 Denial Letter The purpose of the Denial Letter Form is to inform the borrower that their application has been denied or terminated, and the associated reasons for the action. Denial Letter Data Denial Letter Data Date Printed Borrower Name Borrower Mailing Street Address Borrower Mailing City/State/Zip Creditor s Name The date the form is opened. Edit 1003 Borrower Information Borrower Name Edit 1003 Borrower Present Address Section Street Address Edit 1003 Borrower Present Address Section City, State, Zip Code Content Editors Institution Editor Select Institution Institution Name Creditor Street Address Content Editors Institution Editor Select Institution Address 1 Creditor City/State/Zip Creditor Phone Loan Number Loan Amount Content Editors Institution Editor Select Institution City, State, Zip Code Content Editors Institution Editor Select Institution Phone Loan ID Edit 1003 Type of Mortgage and Terms of Loan Base Loan Amount Description of Adverse Action Taken Principle Reason(s) for Credit Denial Section Credit Income and Employment Residence Other Disclosure of Use of Info Obtained Section Path Underwriting Manual UW Decision Counter Offer Detail Comments These checkboxes correspond directly to the matching section on the Denial Screen Based on checkboxes selected on Denial Screen Based on checkboxes selected on Denial Screen Based on checkboxes selected on Denial Screen The Other checkbox is checked automatically if values are entered manually in the Enter Other Reasons field in the Denial Screen (max of 100 characters). Denial Screen Use of Information from an Outside Source section Depending on the radial button selected, it will check the corresponding checkbox on the Denial Letter, and if a credit agency was used, it will pull from the Credit Bureau related party configured in the Related Party Editor. The dropdown in the Denial Screen identifies the appropriate credit provider. Credit bureau information will populate from the corresponding Related Party Editor as follows: Company Name Address 1 and Address 2 City, State, and Zip Code Page 31

33 Denial Letter Data Phone Number ECOA Notice Section Agency Phone Notice Date and By ECOA Agency Related Party Company Name field on first line with Address 1 & Address 2 fields on second line and City, State, Zip Code fields on third line. Note: If only one ECOA Agency is configured in the Related Party Editor, this will be the default on the form, but if multiple ECOA Agencies exist, a dropdown will appear in the Denial Screen to select the appropriate agency. ECOA Agency Related Party Phone Number field Default is set to the Mailed checkbox Blank Page 32

34 Denial Letter with Credit Score The purpose of the Denial Letter with Credit Score form is to inform the borrower that their application has been denied or terminated based, in whole or in part, on the credit report as well as the reason for the action. Click here to see the Denial Letter with Credit Score Form. Denial Letter with Credit Score Data Denial Letter with Credit Score Data Date Printed Borrower Name Borrower Mailing Street Address Borrower Mailing City/State/Zip Creditor s Name Captures the date the form is opened. Edit 1003 Borrower Information Borrower Name Edit 1003 Borrower Present Address Section Street Address Edit 1003 Borrower Present Address Section City, State, Zip Code Content Editors Institution Editor Select Institution Institution Name Creditor Street Address Content Editors Institution Editor Select Institution Address 1 Creditor City/State/Zip Creditor Phone Loan Number Loan Amount Content Editors Institution Editor Select Institution City, State, Zip Code Content Editors Institution Editor Select Institution Phone Loan ID Description of Adverse Action Taken Principle Reason(s) for Credit Denial Section Credit Income and Employment Residence Other Edit 1003 Type of Mortgage and Terms of Loan Base Loan Amount Path Underwriting Manual UW Decision Counter Offer Detail Comments field These checkboxes correspond directly to the matching section on the Denial Screen Based on checkboxes selected on Denial Screen Based on checkboxes selected on Denial Screen Based on checkboxes selected on Denial Screen The Other checkbox is checked automatically if values are entered manually in the Enter Other Reasons field in the Denial Screen (max of 100 characters). Page 33