Merchants Bank, National Association Encompass TPO WebCenter User Guide Full Document Processing
Table of Contents Third Party Origination Website User Guide Getting Started Section 1 Gaining Initial Access to the Website 5 Start Using the Website Tool 5 View the Pipeline 6 Start a New Loan 6 Get Product and Pricing 7 Originating Loans Section 2 Import a Loan From a FNM 3.2 File 9 Create a Loan Manually 9 Loan Information Page 10 Borrower Information Page 10 Employer History Page 11 Income and Expenses Page 12 Assets and Liabilities Page 12-14 Add Liabilities 15 Real Estate Holdings 15 Details of Transaction Page 16 Declarations and Gov Monitoring Page 17 Comments 17 Adding Co-Mortgagors 18 Saving the Loan 18 Product & Pricing 19-20 Working with Loans Section 3 Working with Loans 22 Import Additional Data 22 Initial Disclosure Form 23 Submit Loan for Underwriting 24-25 Submit to Purchase 26 Lock Request 27-28 Locking a Float Request 28-30 Viewing Status of Lock 30 7Full Document Processing TPO WebCenter User Manual 9-28-2017 2
Lock Extension 31 Construction to Perm Locks 32-33 Lock Cancellation 34 Updating Lock Data 34 Change Request 32 Adding and Printing Documents & Viewing and Printing Conditions Section 4 Adding Documents 36 Printing Documents 37 Viewing Underwriting Conditions 38 Printing Conditions 39 Viewing Purchasing Conditions 40 Exporting from Desktop Originator Section 5 Exporting from Desktop Originator 42-43 7Full Document Processing TPO WebCenter User Manual 9-28-2017 3
Copyright Statement 2016 Encompass and Encompass360 are trademarks or registered trademarks of Ellie Mae, Inc. or its subsidiaries. All rights reserved. Other company and product names may be trademarks of their respective owners. Products, services and programs are subject to change without notice. Section 1 Getting Started 7Full Document Processing TPO WebCenter User Manual 9-28-2017 4
This section explains how you can start using the website and includes a brief description of the main tools available on the website. All services (Desktop Originator, Loan Prospector, Credit Reports, Flood Determinations) will not be completed within Encompass. This will need to be accessed within your own systems. Gaining Initial Access to the Website Once approved by our company, we will assign a manager from your company to be the website administrator (i.e., the one who will manage user accounts, update company information, and add new users). The manager will receive an email from us that provides a link to the website, along with a log in name (the manager s email address) and a temporary password. The manager will then complete the following steps to gain access to the website. To Gain Initial Access to the Website: 1 Click the link provided in the email to open the website. 2 Open your Chrome browser 3 While TPO Connect can be accessed from all browsers, you will have the best experience with the website when you use Chrome. 4 Paste the URL into the browser address bar, click Enter You can also take this time to create a shortcut for the TPO website, or make it a Favorite for easy access later. 5 Log in to the website using your email address and the temporary password provided in the email. 6 On the Change Password page, create a new password. NOTE: Be sure to keep track of your new password. Our company will not have access to it. Start Using the Website Tools Once logged in, the manager can grant users access to the site and update their account information. 7Full Document Processing TPO WebCenter User Manual 9-28-2017 5
View the Pipeline Click the Pipeline link on the Welcome page to view your pipeline of loans. Here you can check loan status, lock status, and some basic loan information. Depending on your assigned role and permissions, you may be able to view all the loans that your team has entered on the website. Start a New Loan Click the Add New Loan button on the TPO WebCenter home page to start a new loan. You can enter a loan manually or upload loan files from a DU 3.2 File (*.fnm). You will select Merchants Bank Processing for the Loan Processor 7Full Document Processing TPO WebCenter User Manual 9-28-2017 6
Get Product and Pricing Click the Scenarios button on the TPO WebCenter home page to run your loan scenario through the product and pricing engine. When you submit a product and pricing search request, the provider returns a list of programs, rates, and prices matching the loan details. After selecting a program/rate/price combination, follow the provider s instructions to update the loan file with the selected product. NOTE: All of these items are discussed in detail later in this guide. 7Full Document Processing TPO WebCenter User Manual 9-28-2017 7
Section 2 Originating Loans
Originating Loans Third Party Origination Website User Guide You can originate a loan on the website by importing an existing loan file from a DU 3.2 File (*.fnm) or by creating a loan manually. This section provides the steps for adding a new loan in TPO WebCenter. Import a Loan From a FNM 3.2 File To Import a Loan: 1 On the home page, click the Add New Loan link. 2 Select the proper Channel you will proceed with (Correspondent Non Delegated or Correspondent Delegated) 3 Select the Loan Officer and Loan processor to assign to the file, and click Next. 3 Select Click to Browse to Import from FNM 3.2 file, or select Skip to manual type in a loan When exporting a.dat file from DO, Save As a.fnm file and then import into the TPO website 4 Select your file and then click Open. 5 Click Register An electronic 1003 form displays. Using the links in the left menu, enter the required loan data. After you finish entering information on a page, click the next link to proceed until all of the information is entered. Create a Loan Manually To Create a Loan Manually: 1 On the home page, click the Add New Loan link. 2 Select the Loan Officer and Loan Processor to assign to the file, and click Next. 3 Select Skip to Manually enter loan data, An electronic 1003 form displays. Enter the required loan data. After you finish entering information, click the Register button. Clicking the Register button will assign your file a loan number. Full Document Processing TPO WebCenter User Manual 9-28-2017 9
Loan Information Page The Loan Information Page includes the information around the type of mortgage and loan terms, property information, and title information. This is the information contained in Sections I and II of the Uniform Residential Loan Application form. Borrower Information Page The Borrower Info page includes the information around the borrower and their residency. Full Document Processing TPO WebCenter User Manual 9-28-2017 10
Employer History Page Use this page to enter the borrower and co-borrower s employment information. To Enter Employment Information: 1 Click the Add an Employer button. 2 Indicate whether this information is about the borrower s current employer or previous employer, and then enter the remaining employment information. 3 Click the Save & Add Another button to add information about a different employer. 4 When finished, click the Save button. Full Document Processing TPO WebCenter User Manual 9-28-2017 11
Income and Expenses Page Third Party Origination Website User Guide Enter the monthly income and housing expenses for the borrower. This information correlates to the information in Section V of the Uniform Residential Loan Application form. Assets and Liabilities Page Use the Assets and Liabilities tab to enter information about asset accounts and liabilities. This information is reflected in Section VI of the Uniform Residential Loan Application. To Enter Asset Accounts: 1 Click the Add Asset Accounts button. 2 Enter the asset information. The proper amount of assets is currently required to receive Pricing results. 3 In the Account Information section, select an account or asset type, and then provide its details. Full Document Processing TPO WebCenter User Manual 9-28-2017 12
4 Repeat Step 3 to add additional accounts. You can add up to four accounts for one financial institution. 5 To add a new asset and account information, click the Save & Add Another button. 6 When finished, click the Save button. To Enter Cash Deposits: 1 In the Cash Deposit Towards Purchase section, click the Add Cash Deposits button. 2 Enter the cash deposit amount and who the cash deposit is held by. 3 To add a new cash deposit, click the Save & Add Another button. 4 When finished, click the Save button. To Enter Stocks & Bonds: 1 In the Stocks & Bonds section, click the Add Stocks or Bonds button. 2 Enter the Stock and Bond information. 3 To add a new Stock and Bond entry, click the Save & Add Another button. 4 When finished, click the Save button. Full Document Processing TPO WebCenter User Manual 9-28-2017 13
To Enter Automobiles Owned: 1 In the Automobiles Owned section, click the Add Automobile button. Third Party Origination Website User Guide 2 Enter the automobile asset information. 3 To add a new automobile entry, click the Save & Add Another button. 4 When finished, click the Save button. To Enter Other Assets: 1 In the Other Assets section, click the Add Asset button. 2 Enter the asset information. 3 To add a new other asset entry, click the Save & Add Another button. 4 When finished, click the Save button. Full Document Processing TPO WebCenter User Manual 9-28-2017 14
To Add Liabilities: ***PLEASE NOTE YOU WILL NOT BE ABLE TO IMPORT LIABILITIES. Your liabilities will come into the system when you import your Fannie Mae 3.2 file. 1 Click the Add a Liability buttons (located at the bottom of the list) to enter additional liabilities. 2 Enter the liability details. Select the Exclude from URLA Page 2 Liabilities Total check box to exclude the payment from the ratios. Select the Mortgage liability will remain on subject property check box to indicate the liability is being paid off through the transaction. 3 To add a new liability, click the Save & Add Another button and enter the liability details. 4 When finished, click the Save button. 5 To modify a liability, click the Edit link at the right of the liability. To Enter Alimony, Child Support, and Job Related Expenses: Use the Alimony, Child Support, and Job Related Expenses section on the Assets and Liabilities tab to enter applicable payment details. To Enter Real Estate Holdings: 1 In the Schedule of Real Estate Owned section, click the Add a Real Estate Owned button. 2 Enter information about the real estate owned by the borrower, including any outstanding liens. 3 Click the Save & Add Another button to add information about an additional real estate holding. 4 When finished, click the Save button. Full Document Processing TPO WebCenter User Manual 9-28-2017 15
Details of Transaction Page Use the Trans. Details tab to enter the subject property s purchase price and other transaction details. NOTE: When working with a loan you imported to the website, the fields on the Trans. Details tab will be automatically populated with applicable information from the loan file. Full Document Processing TPO WebCenter User Manual 9-28-2017 16
Declarations and Gov. Monitoring Page Select Yes or No for each question, and then select the appropriate options in the Information for Government Monitoring and Interviewer Information sections. This information reflects the information found in Sections VIII and X of the Uniform Residential Loan Application. Comments The Comments section on the comments page is used as a continuation sheet if you need more space to complete the 1003 loan application. Comments added to this section TPO WebCenter are recorded on the 1003 page 4 form in Encompass. Full Document Processing TPO WebCenter User Manual 9-28-2017 17
Adding Co-Mortgagors After entering all of the 1003 information for the initial borrower(s), you can then add a co-mortgagor. To Add Co-Mortgagors: 1 At the top of the page, click the Edit button. 2 Click Add New Pair to add a Co-Mortgager pair. 3 Enter the required information for the co-mortgagor(s). 4 When finished, click Save. 5 At the top of the page, select the new borrower pair from the Select Borrower Pair drop-down list. 6 Complete all of the information on each of the 1003 tabs for the co-mortgagor(s), just as you did for the initial borrower(s). Saving the Loan To save the information you have entered on the 1003, click the Save button. The Save button is located at the top and bottom of every 1003 page. Full Document Processing TPO WebCenter User Manual 9-28-2017 18
Product & Pricing Use the Product & Pricing link to run your loan scenario through the product and pricing engine. To Search Product & Pricing: 1 Click the Product Pricing & Lock link on the left menu, and then click Search Product & Pricing. 2 Enter the required information. (Required fields are marked with a red asterisk. *) 3. Once all required fields are inputted you can click the Search Product & Pricing button. 4 Click an eligible program s Details button to view the product details. Full Document Processing TPO WebCenter User Manual 9-28-2017 19
5 Click the Float or Request Lock button. 6 If you do not receive pricing select the Ineligible tab which will give additional information. 7 Notify Coordinator once lock is requested for any re-disclosure. 8 Submit email at processing@merchantsbank.com. In the Subject Line, please indicate the Borrower Name, the Loan Number and Re-disclosure Request. Please indicate if any changes to the loan amount, rate, etc. were completed. NOTE: Click the Request Lock button to apply the interest rate and request a rate lock at the same time. For more details about requesting a rate lock, refer to the Lock Request discussion later in this section. Full Document Processing TPO WebCenter User Manual 9-28-2017 20
Section 3 Working with Loans Full Document Processing TPO WebCenter User Manual 9-28-2017 21
Working with Loans Third Party Origination Website User Guide Once you have completed and saved all of the information on the 1003, you can work with the loan or perform loan actions such as, submitting the loan, uploading documents or submitting a lock request. To perform an action, select the action from the Loan Actions menu at the left side of the loan application page. Import Additional Data If you originated a loan on the website by importing the file and changes have since been made to the file in the outside of the TPO WebCenter website, use the Import Additional Data action to import the changes to your file on the website prior to submitting your loan to underwriting. To Import Additional Data: 1 On the Loan Actions menu, click Import Additional Data. 2 Select which fields to import and how to manage existing lists (such as liabilities). 3 Click the Browse for file button, and select the DU 3.2 file you want to import. 4 Click Import. 5 A confirmation message displays when the import is completed. Full Document Processing TPO WebCenter User Manual 9-28-2017 22
Initial Disclosure Request Form (Notify Coordinator within 24 hours of receipt of application) Select Documents on the left menu 1. Click the + Add Document 2. Under Documents, select Full Doc Processing Initial Disclosure - Request 3. Upload your Initial Application, Underwriting Submission Cover Letter, Merchants Bank Full Document Processing Fee Worksheet and MI Quote if applicable. 4. Lender notifies Coordinator. Full Document Processing TPO WebCenter User Manual 9-28-2017 23
Submit Loan for Underwriting (Coordinator will review and submit within 2 business days to underwriting) Select Documents on the left menu: 1 Click the +Add Document. 2 Under Documents select Correspondent UW Submission Package. Lender to upload signed 1003, disclosures, along with all the requested documents shown on the Conventional Underwriting Package Submission form (Please upload in one package) 3. Lender puts AUS in Final Status 4. Lender notifies Coordinator via e-mail at processing@merchantsbank.com. In the Subject Line, indicate the Borrower Name, the Loan Number and Underwriting Submission Request. Please indicate if requesting a credit underwrite or a full underwrite. Full Document Processing TPO WebCenter User Manual 9-28-2017 24
5. Lender once file is scrubbed: Submit all Scrubbed Items Needed to the Documents folder named Unassigned and notify processing@merchantsbank.com. (Subject line, please indicate the Borrower Name, the Loan Number and Items Needed). Reminder: Once file has been fully submitted to underwriting, the Lender and Coordinator will have Read Only access. Coordinator will initiate the ACH from the Lender for the Processing Fee at Underwriting stage.. Full Document Processing TPO WebCenter User Manual 9-28-2017 25
Submit to Purchase Third Party Origination Website User Guide Once you are prepared to upload your closing package you will upload your full package under Documents. 1 To Submit for Purchase: Lender to upload closed loan documents package to Encompass per Closed Loan Stacking Order Checklist. Click the Documents link from the menu on the left. 2 Browse and upload the Closed Loan Package (Be sure to use the Closed Loan Stacking Order checklist found on the Landing Page). 3 You will then access the Loan Summary link from the menu on the left and select the Submit for Purchase to complete your submission. Full Document Processing TPO WebCenter User Manual 9-28-2017 26
Lock Request Third Party Origination Website User Guide Use the Request Lock button on the Product, Pricing & Lock page to submit a rate lock request. You must select a loan product through the Search Product & Pricing option before submitting a lock request. To Search Product & Pricing: 1 Click the Product Pricing & Lock link on the left menu, and then click Search Product & Pricing. 2 Enter the required information. (Required fields are marked with a red asterisk. *) 4 Click the Search Product & Pricing button. 4 Click an eligible program s Details button to view the product details. Full Document Processing TPO WebCenter User Manual 9-28-2017 27
5 Click the Request Lock button. 6 Notify Coordinator within required time for re-disclosures. Submit email at processing@merchantsbank.com In the subject Line, please indicate the Borrower Name, the Loan Number and Re-disclosure Request. Please indicate if any changes to loan amount, rate etc. were completed. Locking a Float Request If you Floated your lock previously you will need to Search Product & Pricing again to submit a rate lock request. You must select a loan product through the Search Product & Pricing option before submitting a lock request. To Submit a Lock Request: 1 Click the Search Product & Pricing button in the upper right hand corner of the screen. Full Document Processing TPO WebCenter User Manual 9-28-2017 28
3. Click the Search Product & Pricing button. 4 Click an eligible program s Details button to view the product details. 5 Click the Request Lock button. Full Document Processing TPO WebCenter User Manual 9-28-2017 29
To View the Status of the Lock: You can view the status of the lock by viewing the Pipeline or by opening the loan file and viewing the Loan Details page. 1 On the Welcome page, click the Pipeline link from the top menu. A Lock icon is displayed for each loan. Lock Icon Lock Status Rate is locked Rate is locked, but a new rate lock has been requested Rate has expired Rate has expired, but an extension has been requested Rate has been requested Rate is locked, but an extension has been requested Rate is unlocked Rate lock is cancelled Rate lock cancellation requested 2 Or, open the loan, and then scroll to the Lock Requests section on the Loan Summary page. Full Document Processing TPO WebCenter User Manual 9-28-2017 30
Lock Extension Third Party Origination Website User Guide When enabled on your TPO WebCenter, TPOs can request lock extensions for loans when the lock is confirmed, but not expired. To Request a Lock Extension: 1 Open the loan, click Product Pricing & Lock link in on the left menu, and then click Request Lock Extension. 2 On the Lock Extension page, enter the required data, and then click Request Lock Extension. NOTE: All fields on this page are read-only with the exception of Days to Extend and Comments. Full Document Processing TPO WebCenter User Manual 9-28-2017 31
Construction to Perm Locks Third Party Origination Website User Guide To Submit a Lock Request for Construction to Perm 1 On your Loan Info screen you will leave the Purpose of Loan as Construction to Perm. This lets underwriting know the type of transaction you are working with. 2 Under Product and Pricing you will change your Loan Purpose to No Cash-Out Refi OR Cash- Out Refi (whichever applies) and choose the appropriate Purpose to Refinance (Ex: Cash-Out Limited) Full Document Processing TPO WebCenter User Manual 9-28-2017 32
3 Enter the required information. (Required fields are marked with a red asterisk. *) 4 Click the Search Product & Pricing button. 5 Click an eligible program s Details button to view the product details. 6 Click the Request Lock button Full Document Processing TPO WebCenter User Manual 9-28-2017 33
Lock Cancellation Third Party Origination Website User Guide Correspondent lenders will not be required to cancel the lock and the lock will be allowed to expire. The correspondent lender is welcome to send a courtesy email to notify the Lock Desk of a withdrawn loan at pricingdesk@merchantsbank.com. If a re-lock is required, please contact the Pricing Desk to assist you with pricing. Updating Lock Data If you make a change to any of the following loan fields after you have "Locked" your loan rate you will need to send an email to Pricing@merchantsbank.com so that your lock information is correctly updated and reflecting the correct pricing. Loan Details Loan Details Subject Property Subordinate Financing Purchase Price Loan Program Occupancy Balance Base Loan Amt Loan Type Property Type Payment Note Rate Amortization Type No. Of Units Max. HELOC Amount Loan Purpose Loan Term Appraised Value Change Request Any and ALL loan changes will need to be emailed to processing@merchantsbank.com. In the subject line, please indicate the Borrower Name, the Loan Number, Change Request. Please provide within the body of your email the requested changes and re-disclosure information. Coordinator will submit the Change Request to underwriting and prepare new disclosures if necessary. Full Document Processing TPO WebCenter User Manual 9-28-2017 34
Section 4 Adding and Printing Documents & Viewing and Printing Conditions Full Document Processing TPO WebCenter User Manual 9-28-2017 33
Adding Documents As you work to process your loan, you will need to add documents to complete the loan package. To Add Documents to the Loan: 1 If you are adding a full Underwriting Submission Package please go to the Submit Loan for Underwriting on Page 24-25 and follow instructions. If you need to add separate document on the menu on the left, click the Documents link. 2 Click the Add Document button. 3 On the Document View Settings dialogue box, select a borrower pair and then select a document from the Documents list. 4 Click Save to add the document(s) to the list on the Documents page. 5 Drag and drop the document file to the document entry in the list, or click the Browse for files button to select a file to attach to the document entry. The document is now included in the Documents. 6 To move a document, click the Expand Icon ( ) to expand the document entry, and then click the Move Icon ( document to. ) and follow steps three through four to select a new document entry to attach the Full Document Processing TPO WebCenter User Manual 9-28-2017 36
Printing Documents Pop-Up Blocker will prevent you from printing. If you find that you cannot print make sure you shutoff your pop-up blocker for this site To Print Documents: 1 On the menu on the left, click the Documents link. 2 Select the Place Holder that you want to print. You will see the PDF document. Select the document you want to print. Full Document Processing TPO WebCenter User Manual 9-28-2017 37
Viewing Underwriting Conditions Third Party Origination Website User Guide Once the loan has been underwritten, you will receive an email notification showing you have conditions and you will receive an email from our processing team indicating the conditions they will work on along with items you will need to provide. You can view the conditions that have been added in the Conditions section. There you can view condition details and add documents to satisfy the conditions. For a full conditions list, please go to the Document tab To View Conditions: 1 On the menu on the left, click the Underwriting Conditions link. 2 Click the Expand Icon ( ) to view the condition details. 3 Click the Link Document to Condition drop down to select a document from the document list to satisfy the condition. Then click Browse for files to attach your documentation. 4 When you are finished adding supporting documents, click Ready for Review to indicate that the conditions have been satisfied. 5 You will then notify processing@merchantsbank.com and let the coordinator know you have uploaded the necessary documents for them to review. 6 Click the Re-Open to add any additional documents if necessary to satisfy the condition. Conditions Terminology: Prior to Approval = Prior to Closing Prior to Closing = At Close Prior to Funding =Trailing Docs Full Document Processing TPO WebCenter User Manual 9-28-2017 38
Printing Conditions Third Party Origination Website User Guide If you would like to print your conditions 1. Select the printer icon in the right hand corner of the screen 2. Select the proper printer to print conditions to. Full Document Processing TPO WebCenter User Manual 9-28-2017 39
Viewing Purchase Conditions Third Party Origination Website User Guide Once the loan has been reviewed for purchase, you will receive an email notification. If you have conditions, you can view the conditions that have been added in the Purchase Conditions section. There you can view condition details and add documents to satisfy the conditions. For a full conditions list, please go to the Document tab To View Conditions: 1 On the menu on the left, click the Purchase Conditions link. 2 Click the Expand Icon ( ) to view the condition details. 3 Click the Link Document to Condition drop down to select a document from the document list to satisfy the condition. Then click Browse for files to attach your documentation. 4 When you are finished adding supporting documents, click Ready for Review to indicate that the conditions have been satisfied. 5 Click the Notify Lender button at the top of the screen which will notify Merchants Bank that conditions have been submitted. 6 Click the Re-Open to add any additional documents if necessary to satisfy the condition. Conditions Terminology: Prior to Purchasing = Purchase Conditions Full Document Processing TPO WebCenter User Manual 9-28-2017 40
Section 5 Exporting from Desktop Originator Full Document Processing TPO WebCenter User Manual 9-28-2017 41
EXPORTING FROM DO: Third Party Origination Website User Guide You can export your file (.fnm file) from DO and import it into the TPO WebCenter. On the next screen, make sure the box 1003 (version 3.2) is checked and click EXPORT at the bottom When you are asked to open or save, find the drop down under SAVE and select SAVE AS Be cautions in the next step or the format of the file won t be correct and it won t import into the TPO WebCenter. You need to save as a.fnm. Change the file name to your borrower.fnm Example: Smith.fnm Next change the file type by clicking on the drop down and selecting ALL FILES. If you don t select ALL FILES it saves as the defaulted DAT file and not a FNM so you won t be able to import. Full Document Processing TPO WebCenter User Manual 9-28-2017 42
Here s how it should look: Then SAVE at bottom Save it on your desktop or where ever you save your files so you can easily search for it when you IMPORT into the TPO WebCenter. Continue to import see page 9 Import a Loan From a FNM 3.2 File Full Document Processing TPO WebCenter User Manual 9-28-2017 43