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Effective: 10-6-10 The information contained in this document is for the use of Stearns Lending.

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Presentation on theme: "Effective: 10-6-10 The information contained in this document is for the use of Stearns Lending."— Presentation transcript:

1 Effective: The information contained in this document is for the use of Stearns Lending.

SECTION 1: Getting Started……………………………………. 3 SECTION 2: Home Page………………………………………… 7 SECTION 3: Setting Up Users…………………………………. 9 SECTION 4: Pricing Your Loan………………………………… 14 SECTION 5: Locking Your Loan……………………………….. 23 Pre-Locking your Loan Locking at Registration  Locking an In-Process Loan SECTION 6: Loan Submission…………………………………. 35 Uploading your 3.2 fnm file Registering your Loan Adding/Deleting Borrowers Multiple Loans to Same Borrower Attachments    SECTION 7: Running DU………….…………………………….. 68 SECTION 8: Pipeline Management….………………………… 75


4 GETTING STARTED System Requirements:
Latest version of Internet Explorer »If utilizing Internet Explorer 8.0: Must go to tools Select compatibility settings View all compatibility modes Pop-Up Blockers DISABLED Java Script ENABLED Log-in Credentials: Username & Password will determine the rights a user will have (pipeline, etc.) Contact your Stearns Lending Account Executive for your initial company password to the SNAP website. Go to: Click on: SNAP The log-in fields are located in the upper-right corner of the HOME page:

The Tool Bar contains access to the following: Home Price It! »Contains: Pricing Engine Program Finder Pre-Lock Request Rate Sheets (current rate sheets) Forms (current broker forms) Announcements (Stearns Lending announcements) Once logged in, user will see the branch contact information in the upper-right corner: STEARNS LENDING - YOUR BRANCH 1111 MAIN STREET #250 ANYWHERE, CA, 95404 Tel: xxx-xxx-xxxx Fax: xxx-xxx-xxxx

6 SYSTEM BASICS Inactivity Hyperlinks I can help you! Mandatory Fields
After approximately 30 minutes of inactivity, SNAP will require user to log back into system. Work gets saved prior to system timing out. Hyperlinks Throughout the system, there are various data elements that will appear as BOLD. These are actually hyperlinks that will take the user to another screen. I can help you! Anytime you see “I can help you!” in this user guide, you will see additional notes that provide helpful hints for a particular section of the system and/or Stearns Lending requirements. Mandatory Fields Fields with BOLD, Black boxes in the screen shots identify the minimum required fields that are mandatory to be completed for that screen.


8 The Home Page is the first screen that you come into after logging in.
RATE SHEETS – View the daily rate sheets in .pdf format FORMS – Program Guidelines, Submission Checklist, Credit Vendor sign up information, plus any Form or Document needed to submit your loan ANNOUNCEMENTS – Important messages will be posted here PRICE IT – Link to the Pricer for Pre-Locking a Loan CLOSE IT – Manage your pipeline, Link to Appraisal Request System, Submit Conditions and Order Documents all from one place


10 SETTING UP USERS when you log in, click on CLOSE IT; this will bring you to the Pipeline View: If you are the System Administrator for your office, you will have an ADMIN tab on your top menu bar. This is what you will see when you click on the ADMIN tab:

11 ADDING A USER As the Administrator, you will have been given:
A user name that is at least a four-digit number. It may also have a letter after the number (example: 1233A). This is your company’s code with Stearns. When you ADD A USER for your company, you must use that code, plus another number, as the person’s user name. Example: Admin. user’s name is 1233A New user will be 1233A-1 or 1233A – Joe Smith Enter user’s full name; i.e. Joe Smith - Loan Officer Enter in address, phone and fax numbers RIGHTS – When Checked  “ADMIN” will give the user the same rights as you to add users. “View all Applications” will allow the user to view your company’s pipeline, as well as access every application started by any of your loan officers or processors. (if both are UNCHECKED, the user can only see his/her own pipeline). “Not Allowed To” restricts users from running credit reports, even if the credit credentials are stored in the system or from exporting files. STATUS Allows the Admin to Activate or Inactivate Users, Re-set Passwords. To add a new user, click on the ADD USER button. To edit a user, click on the EDIT USER button. To delete a user, click on the DELETE USER button

12 To Change or Reset a Password - type a new password in the “password” field and confirm that password in the “confirm password” field. Select “Pre-Expired Password” in the drop-down menu. This will prompt the user to select a new password when the user logs in. CREDIT CREDENTIALS If you are a DU-enabled broker, your credit credentials will have to be stored in the system within the broker/Company Information screen. You can add these at the user level for individual credentials to track personal usage, or if you choose to only have one set of credentials for your whole company to share, you would enter them on the main admin. screen (not on the individual user profile screens). PLEASE NOTE: The FNM box must remain un-checked for CREDCO,EQUIFAX and KROLL Factual Data credentials. Informative Research requires two entries, one for Credit and one for DU. DU credentials must have the FNM box checked. See SNAP Credit Guide hand-out. Contact your AE to find out how to sign up with our Approved vendors. If you are not a DU approved broker but wish to store your credentials so that you don’t have to keep re-entering them every time you wish to run credit, please enter them here.


14 In the PRICE IT section, you can: PRICING YOUR LOAN
Find a product that fits your borrower Price a loan Request a pre-lock Print your scenario PRICING YOUR LOAN

15 PRICE IT SCREEN: There are many filters that can be selected to help narrow down what programs and pricing your scenario will generate. Fields with bold boxes require an entry to proceed. Amort Type: ARM, FIXED, ALL. Loan Type: Conv. FHA, VA ALL – (for USDA Rural, select ALL). Amortization Term: 30-year, 20-year, 15-year and 10-year. Last/First Name: While these fields are not mandatory to price a loan, they will need to be completed if you wish to request a lock or print your scenario. 15

16 Qualifying FICO: Please ensure that you use the correct score when running the pricing (lowest of all borrowers’ middle score). Doc type: Current selections are FULL DOC and Streamline (Gov’t Loans only). Occupancy: Current selections are Owner Occupied, 2nd Home and Non Owner Occupied. Property type: SFR/SFD, Condo, Townhome, PUD-Attached, PUD-Detached, 2 Units, 3 Units, 4 Units. Zip Code: This is a mandatory field – by entering the Zip Code, the County field will automatically populate. Market value: Mandatory field. AUS Results: Select the AUS results from the drop down table – To enable the FHLMC Open Access program, choose LP Accept. I Can Help You! PLEASE NOTE: if you want Interest-Only, you must select the button or it will not return those results. 16

17 RESULTS You will see your scenario at the top of the page and your results appear below: RESULTS - FAIL If you do not get any pricing results, you will see this screen. It will show you why your scenario failed, giving you the opportunity to see what information may have been entered incorrectly. In this scenario, the FICO did not meet the guidelines. 17

18 RESULTS – PASS: You will still see your scenario, but at the bottom of the page you will see the Pricing Results box. You will notice that the Product and Rate /(rebate)/Cost are in blue and underlined. The items are hyperlinks that may be clicked on for more information. 18

19 Click into Product Name and you will see a breakdown of your pricing, including all applicable adjustments. You can either select Print it or Close it, to close the screen.

20 When you click on the Rate or (Rebate)/Cost, you will see the whole range of rates and (rebates)/costs available on that product for your scenario. PLEASE NOTE: This price WILL INCLUDE all of your adjustments, so it will be your “net” price. If you wish to select a different rate, just click the button corresponding to the desired rate and click on Select Rate. The system will refresh your screen with the newly selected rate populated in the Rate field.

21 Reading buttons from right to left
After you run your scenario, you will see three buttons at the bottom of the page: Print Scenario – this will provide a printable version of the selected program and pricing. PLEASE NOTE: you will need to have a borrower’s first and last name to print. Convert to APP – allows the user to upload a FNMA 3.2 file from your LOS system or manually enter information on the 1003 and Loan Summary screen to electronically submit the loan. REFER to Section 6 Page 35 Lock Request – allows the user to Pre-Lock the loan. REFER to Section 5 Page 23 You will need to enter the borrower’s name in order to identify this scenario. Convert to Full App and Lock Request will be addressed later on in this manual. 21

and the following screen will appear:

Pre-Locking your Loan Locking at Registration Locking an In-Process loan

Please do not lock your loan this way if you already have a Loan Number.  REFER to page 27 in this section. After you have completed the Price It screen, CLICK on PRICE IT! CLICK on program and select rate and price (REFER to Section 4 Page 19 and 20 for details) CLICK on the LOCK REQUEST button PLEASE NOTE: The lock request button will only be available during our Lock Desk Hours, currently 7:30 AM to 3:00 PM, PST. 24

25 When the lock request is selected, you will see the following screen:
I Can Help You! Please make sure that you complete the additional contact information, name and and phone contact numbers of the person you would like to receive the lock confirmation.

26 Rate Lock Request The Lock Request form consists of seven sections. Most of the information auto-fills from the original scenario data entered. If you miss any of the mandatory information needed (the fields in bold black outline), the system will not let you submit your lock request. Broker Information – Enter the additional contact information in order to receive the Lock Confirmation form. Lock Information – Contains the rate and price and lock term from the selected scenario from the previous screen. Borrower Information – Must enter a Social Security number, Co-Borrower’s name, Social Security number and FICO (mid of 3, lower of 2). Loan Information – Contains the loans terms and program originally selected; be certain to enter the UFMIP% to ensure that the lock is at the correct loan amount. Property Information – Must have a property address. Pricing Details – Contains rate and costs associated with the scenario that was selected on the previous screen. Comments – the user may enter comments here for the Lock Desk personnel. Comments cannot be viewed by any other staff. After all mandatory fields have been completed, click on Submit and the system will take you to the Lock Request Confirmation Page.

27 This is NOT a Lock Confirmation, but a confirmation of your Lock Request.   
Please remember to PRINT a copy for your records by clicking on Print in the text on the screen. PLEASE NOTE: All Locks are processed by the Lock Department.  Upon completion the Lock Desk will send an confirmation with your Locked terms.

For Details on how to get to this screen REFER to Section 5 Page 49 PLEASE NOTE: If your loan is in Registered status, please follow these simple steps to lock your loan: Go to Pipeline and double Click on your loan In Loan Summary screen, select your Lock Term Click on Check Guidelines Select Program Select Amortization and Rate Click on REGISTER/Update or Lock My Loan button For complete details of these screens REFER to Section 5 Page 49 Once your loan has passed the guidelines, Select your loan program and rate, then Select the REGISTER WITH STEARNS button.  If it is during Rate Lock Hours, you will see the following check box (“I Want to Request a Rate Lock”): CLICK into the Box next to I want to Request a Rate Lock, and the system will automatically generate a Lock Request based on the loan terms that you have just selected (Program, rate, etc.).  CLICK on the SUBMIT button PLEASE NOTE:  If you want to Register without Locking the loan, REFER to Section 5 Page 60  to register your loan without a Rate Lock. I can help you!  You must click into the box and have a check mark appear in order for the Lock Request form to be generated.

You have the ability to Lock at loan at any point of the loan process. If you have imported a 3.2 file or manually created a loan, but have not done anything further your loan will be in App/Qual status. If you have Registered your loan, but have not submitted the required documentation in the form of attachments your loan will be in Registered status. If your loan has been Registered and you have submitted the required documentation your loan will be in Submit Status. If the Submitted loan has been forwarded to Underwriting, your loan will be in U/W Receipt status. After Underwriting approval, your loan will be in UW Approved status. At any status if you are ready to lock the loan, please follow these simple steps. Search for the loan in your pipeline.

30 Click into the borrower’s name and you will arrive at the Loan Summary Screen as shown on the next page. 

31 Request Lock Term by selecting from drop-down table.
DO NOT CLICK SAVE as you will receive the following popup message. Just proceed to CHECK GUIDELINES.  The system will save your Lock Term days.

32 From the Loan Summary Screen you can CHECK GUIDELINES from the Toolbar or in the Lower left-hand corner. On the Results page, select the program name for which you would like to lock. Select the rate and price.  Click on LOCK MY LOAN

33 You will then see a copy of your lock request and should always print it for your records. You will receive a confirmation from the Lock department within 24 hours. PLEASE NOTE: Any change requests may require certain wait periods to start again. Your local Operations office will give you the specific information when and if it does apply to your loan.

34 PLEASE NOTE: When you are going from a Float to a Lock, this does constitute a Changed Circumstance.
Click on CHANGE REQUEST A pop-up window will appear requesting you to complete the Change Form, click OK to continue.” Complete all relevant fields and print it out for your records; next, click on the Submit button.  This will send the form to your local branch for review).           

Converting to Full Application from Pricer Full Application – Upload a Fannie Mae 3.2 file     Importing a 3.2 fnm file over a Pre-Locked Loan Running Credit Registering your Loan    Adding/Deleting Borrowers   Multiple Loans to Same Borrower    Attachments

After you have priced your loan scenario and wish to create a full application, at the bottom of the pricing screen you will see the CONVERT TO FULL APP button. By selecting this button, you will be able to import a FNMA 3.2 from your LOS system. If you have one for your scenario, just click YES and you will land on a screen where you can browse for your file. CLICK on Upload DU File Now! You will land on the Loan Summary Screen.  REFER to Page 41 to on how to complete the submission process

When you click on the APPROVE IT icon on the Home Page, the following screen will appear: (No scenario has been previously entered – NEW FILE) Click on Browse to locate the 3.2 file in your computer system; highlight it to select it; then click on Open/Insert.  You will see the path way in the “Select it” field.  Then click on Upload  FNM 3.2 File Now.”

38 PLEASE NOTE: If you have questions on how to export a 3
PLEASE NOTE: If you have questions on how to export a 3.2 file from your LOS system, CLICK on the question mark in the circle and you will see quick how-to instructions”

From Home Page click on the CLOSE IT icon and you will land on the Pipeline page To import your 3.2 file over the locked information, locate the borrower from the pipeline and click on the name.  This will open the loan to the Loan Summary Page.

40 To Import or Upload a 3.2 file, select the IMPORT button in the upper left hand corner of the screen. When you click on IMPORT, you will see the Create a New Submission screen (please do not be concerned that screen is titled NEW, just upload your 3.2 fnm file). CLICK on Browse to locate the 3.2 file in your computer system; highlight it to select it. Then click on Open/Insert.  You will see the path way in the “Select it” field.  Then CLICK on Upload  FNM 3.2 File Now.

41 LOAN SUMMARY PAGE Where you land after uploading a file:
Through the Loan Summary Page, you will be able to copy loan for multiple loans to one borrower; Import a 3.2 file; run DU and Credit. (see sections on Multiple Loans to Same Borrower, Running Credit and Running DU) Where you land after uploading a file: In the top tool bar you will see the following headings: 1003: Links to all pages of the 1003 Loan Summary: the page where you are, and where you will run credit and enter most of your loan information Check Guidelines: This will run the loan through our Guidelines to see which programs it passes. Home: This will bring you to your pipeline to search for any loans and see their current status. Admin: You will only see this tab if you have been given ADMIN rights by your company administrator. Log Off: Logs you out of the system Attachments: This will allow you to upload documents as attachments to the loan (i.e. Submission package, conditions, etc.) Home Pipeline: This is where to can manage your loan pipeline, review the status of your loan, review Lock confirmations, attach documents to the loan and review credit report                                    

42 COPY Button will allows you to copy the loan data exactly and assigns a new loan number.  This is helpful when doing multiple loans for the same borrower. REFER to page 65 Multiple Loans to One Borrower. IMPORT Button allows you to import a 3.2 file to (see details below). REFER to page 40 Full Application – How to Import a 3.2 file. DU allows the user to submit the loan to FNMA for a DU Decision (the Loan Summary & all three pages of 1003 need to be completed prior to running DU) and it needs to pass at least one program via the Guideline Checker. This DU button will not be visible to all users.  To have DU enabled, please contact your AE. REFER to Section 7 Page 68 Running DU. You will need to SAVE all entries and you will also have the option to PRINT them. I can help you! You must have run the guideline check first and the loan must have at least one program before you can run a DU.

43 Complete the screens as applicable. 
DOB (Date of Birth) needs to be in the format of 00/00/0000 when initially entered, when SAVED, it will appear as 00/00/00. Citizenship fields need to be completed on the Loan Summary screen as well as on Page 3 of the 1003 within SNAP (Click on the 1003 from the tool bar then click on Page 3 to the Declarations section).  When all entry has been completed, click on SAVE.  Your screen will refresh to show the information that was either imported from the 3.2 or manually entered. See next page for the Running Credit section

44 2) Order New Credit *– pulls new credit report.
4. RUNNING CREDIT THE SYSTEM CURRENTLY SUPPORTS THE FOLLOWING VENDORS: Credco Equifax Informative Research KROLL Factual Data Your company will need to sign up with one of our approved vendors and the credentials need to be stored in the system. (See Admin section – setting up users for details). CREDIT SECTION ALLOWS THREE OPTIONS: 1) Re-Issue Credit *– Select the credit vendor and enter the reference number 2) Order New Credit *– pulls new credit report. I can help you! When re-issuing credit, the borrowers’ name, address and SSN must be entered exactly as it was when credit was first pulled. Please contact your Account Executive with any questions regarding our Approved List of Credit Vendors. A window will pop up so that you can enter your own credit credentials each time to order or re-pull a credit report, if you have not stored your credentials in the system.

45 When the ORDER button is selected, a new screen will appear advising that by running a credit report ALL the liabilities on Page 2 of the 1003 will be overridden by information provided on the credit report. If it is ok to replace the liabilities on the 1003, then click on OK. NOTE: If CANCEL is selected, no credit report will be generated. Once credit has been returned, the system automatically takes you to the Liabilities section on Page 2 of the 1003, where a VIEW button will appear in the Liabilities separation line. On the Loan Summary Page, you will see a message along with reference number along with a VIEW button.

46 3) Manual Credit Entry – allows user to enter minimal credit info to run decision through Guideline Check (but not to run DU). If you are not signed up with one of our approved credit vendors, you must complete the Manual Credit Entry section: Borrower FICO scores: XPN, EFX, TU – need to enter all three Co-borrower FICO scores: XPN, EFX, TU – Need to enter all three BK/Foreclosure Type – pull down selection Filing Date – enter date format as 00/00/00 Discharge Date – enter date format as 00/00/00 Mtg/Rent Lates- recent 12 & 24 months Credit Depth Total # tradelines Oldest trade Started – enter date format as 00/00/00 High trade balance Consumer Lates - recent 12 & 24 months

47 SAMPLE CREDIT REPORT This is the format - regardless of the
vendor - that the system will generate. PLEASE NOTE: All words in blue are HYPERLINKS and will take you to that specific part of the report.

You have the ability to go into and modify any item on the report; just click on the name of the liability and you will see this screen. This will not change anything on the credit report.  It would be best practice to attach an Explanation letter with the file explaining why the credit item has been modified. Changeable fields are the white boxes below the shaded boxes with information in them.  Make the applicable changes, and enter a reason why the changes are being made in the REASON field at the bottom of the screen. Click SAVE. Your screen will then be refreshed and take you back to the Loan Summary page

49 5. REGISTERING YOUR LOAN After you have entered Credit from one of three options, see Page 42 for details on Running credit; you are ready to register your loan.  Review the Loan Terms section of the Loan Summary screen for completeness. LOAN TERMS, SUBJECT PROPERTY AND SETTLEMENT SUMMARY SECTION Some of the fields in this section have already been auto-populated if a pricing scenario had previously been run, then immediately converted to an application or if you have imported a 3.2 file. If your loan is a Purchase Transaction, your screen will appear as:

50 Proposed Loan – Contains lien position, loan amount, tem, interest rate and prepayment penalty.  The system will calculate a P & I payment based on the loan amount, rate and term. FOR FHA LOANS: The loan amount is the base loan amount.  For system to calculate the Note Loan Amount, click on 1003 in the tool bar, and enter the MIP amount being financed on Line N. I/O – The checkbox must be marked to return interest-only results. MI & Impounds - The check boxes for each must be checked to return FHA results and accurate pricing. Purch or Refi – To select the transaction type, click on the drop down table and highlight either Purcahse or Refi. Market Value/LTVS – The system will calculate the LTV and CLTV based on the value/sales price (lower of the two) and the loan amount entered. 203k Button – Click on the 203K button for PopUp window with instructions for entry of Market Value and Purchase Price on 203K REOs.

51 Refinances: When Transaction type is REFI, and additional box will appear next to Purchase Price. In the PURCH PRICE field, enter the amount paid at time of purchase. In the next box, a date can manually be entered using 00/00/00 format, or click on the calendar to select a Month, day and year. If your loan is a Refinance - the Loan Summary page will show a date field and calendar icon in the Market Value / LTVs section in the center of the Loan Summary page. Purchase Price field – Enter the amount the borrower paid for the subject property when purchased. Date field – Enter the date that the Borrower purchased the subject property when purchased (00/00/00 format).  Or you can click on the calendar icon and select the Month from the drop down payment. Select the Year from the drop down table and click on the day of the month within the calendar.

52 Subject Property – Enter the Subject property’s address
Subject Property – Enter the Subject property’s address. If the Subject property is the same address as where the borrower is currently living, check the Box next to “Same as Borrowers Address” Occ Status – click on drop down table to select the Occupancy status for the loan Prop Type – click on the drop down to select type of Property Stories - When CONDO is selected, this field will open up Settlement Summary – Closing costs will auto populate from Page 3 of the 1003. Mortg and Other P/O’s: This link will take you to page 2 of the 1003 to check your liabilities. Other Credits: This link will take you to Page 3 of the 1003 to your transaction details, where you can edit the Estimated Prepaids, Line E. Income/Expenses - These calculations derive from the data entered on the 1003 pages. DTI Worksheet – This will take you to an abbreviated version of Page 2 of the 1003 to complete your income.

53 Agency (Fannie/Freddie) – If the loan product selected on Page 1 of the 1003 is CONV, then certain assumptions must be made: The system will default to Approve/Eligible for DU/LP Result. For the FHLMC Open Access product, select LP Accept from the dropdown. The system will select Fannie: Standard for the Product. If the LTV is over 80%, you must select a percentage from the drop down table for MI Coverage. FHA Total Scorecard – If the loan product selected on Page 1 of the 1003 is FHA, then must select FHA Accept in the Results drop down table. Lock Term – select a lock period to get program and accurate pricing.  Refer to LOCK IN Policy for delivery days available for your loan. (Click on HOME in the tool bar, and from the HOME tool bar click on FORMS). Selecting Lock Term DOES NOT lock your loan; please REFER to Section 5 Page 23 for How to Lock Your Loan. When you are finished, just click on CHECK GUIDELINES. 53

When you have completed your application, you are now ready to click on CHECK GUIDELINES. The screen will change to the Program comparison/Results Page. RESULTS PAGE Program Comparison displays columns of results for all the programs the loan was compared against. Program Name – Hyperlink to Program Details. Lowest Par Rate – Displays the Lowest Par Rate available for any type of amortization under this program code. Pass – No exceptions and loan passed all guidelines. * – Missing or invalid data exits. Any number – the total number of guidelines the loan failed.

If the program wanted shows a Guideline Exception (failed): CLICK on the name of the Program to open the Guidelines and Advisory page, which help you to determine why the loan failed on that program.  To see more of the details, click on the SHOW DETAILS on the right hand side of the screen. If you cannot determine how to remedy the loan data to get a Pass on the guidelines: CLICK on the button CLICK TO REQUEST HELP FROM YOUR AE,  which will open up a screen that you can type a quick message to your AE, which will be automatically sent in format.

56 SELECTING THE PROGRAM Click into the program your scenario passed (Example: 2000-Conforming Fixed and you will now see your amortization choices [if applicable] and your pricing. Both of these are hyperlinks and will give you more information

57 Program name – This will give your pricing breakdown as shown in the Rate Calculation Detail screen.
Rate Calculation Detail – Click on the Print button to save for your records. Rate – This will give your full range of available pricing as shown in the Rates and Pricing Grid. Rates and Pricing Grid – Select the Rate and (Rebate) / Cost that you want, by clicking into the round button in the left column, then Click on PRINT and then click on SELECT RATE. The system will take you back to the Program Guideline Detail screen refreshing the rate and price of the loan program you selected.

58 Click on Show Details to see the guidelines that were checked against your loan data.
This screen will also show any items on the credit report that were overridden manually.

59 Select your program and rate by clicking on the round button next to the program.

60 Please CLICK on SUBMIT If it is during our Rate Lock hours, you will be able to see the “I want to request a rate lock” button. Refer to Section 5 Page 31 PLEASE NOTE: If it is after Rate Lock hours, you will only see the comments box and the Submit and Cancel buttons. Click SUBMIT PLEASE NOTE: The Underwriters or Lock Desk will not see your comments.

61 You will then see a Confirmation page telling you that your loan has been registered, giving you directions on how to attach the rest of your loan so that it can be fully submitted. To confirm that the loan has been registered, click on the Pipeline view from the toolbar to see that the status has been changed to “registered

ADDING BORROWERS On the Loan Summary page, under the Credit section, is the Tab: ADDITIONAL 1003’s To add an additional Borrower who is not the spouse of the Borrower, you will need to select the Additional 1003’s button. When ADD is selected, the Order Credit screen is opened. This is where you will be able to run credit for each additional 1003. PLEASE NOTE: Completing this screen with Borrower name, Social Security Number, Address, etc., creates the Additional 1003 in the system populated with this same information.

63 PLEASE NOTE: All additional borrowers must have a credit report run in the system; no manual credit entry is allowed for the additional borrowers. Must use the same Credit agency for the Additional 1003 borrower(s) as used for the Primary Borrower(s). When saved, you will see a link with the name of the borrower in the Additional 1003 section. To Run credit for that borrower, simply click on the link with their name, and you will be taken to screen where you can order credit. To View the Loan Application for that borrower, click on the 1003 link in the top tool bar and you will see a drop-down table. To switch between 1003s attached to the loan, you can select the other borrowers by using the drop-down table.

64 DELETING BORROWERS To delete the Spouse of the Borrower, click into each field for the Spouse in the Loan Summary screen and select the Delete key from the keyboard. To delete a Non Spousal Co-Borrower, click on the name of the Co-Borrower and the Additional Borrower Info/Order Credit screen will open. In the Additional Borrower Info/Order Credit screen, click on the DELETE button in the upper left hand corner of the screen. Click on SAVE and you will see the name has disappeared from the Additional 1003’s section on the Loan Summary screen.

If you are making more than one loan to the Borrower, through the Loan Summary screen, you will be able to copy the loan data and assign a new loan number.  This is the only way that a duplicate loan can be made without receiving a duplicate loan error. Click on the COPY button from the loan summary screen and a warning pop-up window will appear: If OK to continue, click on OK and a new screen will open showing a new loan number: Click on the IMPORT button, to import the 3.2 file for the specific subject property.

There are two places within the system to upload your documents and attach to the loan file; from the Pipeline view and on the Loan Summary Page Pipeline View:           Go to Your PIPELINE (top tool bar). Search for your loan. Under the Attachments column, you will see a PAPERCLIP symbol. Click into the Paperclip. From the Loan Summary Screen:  Go to Your PIPELINE (top tool bar). Search for your loan. Click on the Borrower’s name to open to the Loan Summary page. In the Loan Summary page click on ATTACHMENTS from the tool bar. Both ways will take you to the same place, the Post/UPLOAD NEW DOCUMENTS IMAGE page.

67 Here you can browse to where you have the rest of your loan file, income, assets, disclosures etc.
Click Select it Click Name it (2008 W2, etc.) Select Type from drop down table either New Loan Submission or Conditions. Then click on Upload Document You will then see each document that you attach appear below. It will show the time and date that the document was uploaded. It will also show who uploaded the document. PLEASE NOTE: A loan is not considered a full package for a true submission until all income/asset disclosures (Good Faith estimates are mandatory) are received. I can help you! Don’t Worry – if you have uploaded the wrong document, you can delete it by clicking on the X.  However, please let your Branch office know that you have deleted an item as they have already been notified that a document has been uploaded into the system.  


69 To have DU enabled, please contact your AE
RUNNING DU To have DU enabled, please contact your AE To run DU, please go to your Loan summary page and click on the DU button. DU can not be run unless there is a live credit report in system. PLEASE NOTE:  The DU button will disappear once the loan has been put into U/W Receipt status. The first time the DU button is selected, the system will take you to the DU Submittal screen: 

70 Request section:  Most of the fields in this section will be auto-populated by the system.  If ordering DU for the first time, the Case File ID: should be blank, and the Request field will show Order New DU.  In the Credit Provider fields be sure to select from the drop down table, the credit provider in which you ordered credit. All Loans section:  In the Subject property field, select from the drop down table to identify the type of property for subject. In the Existing Owner field – select who is the current owner of the first Mortgage (if known), selections available in the drop down table. Product Identification section: ARM Plan – If the loan is an ARM, select from FNMA’s list of ARM type in the dropdown table. Description Field. To exclude DU REFI PLUS option from FNMA DU, enter “Standard LCOR” in this field. Code Field – This field will be auto populated with the Loan Program product code. ARM Loans section: Enter the Qualifying Rate, Index and margin that is to be used for qualifying purposes. Government Loans section: The Right side of the SU Submittal pertains to Government loan products. Mortgage Credit Certificate - Enter the MCC certificate # in this field if applicable Type of Refi – This field will populate based on the document type selected on the Loan Summary page. FHA Loans section: This section must be completed for FHA loans Section of the Act – Select from the drop down table the applicable program type MIP Refund amount – Enter amount if applicable. VA Loans section:  This section must be completed for VA loans. Enter the entitlement amount as applicable Monthly Maintenance – Enter the amount as applicable Monthly Utilities – Enter an amount as applicable CAIVERS section: This section must be completed on Government loans.  Enter the CAIVERS number for each borrower as applicable. Community Loans section:  If the loan product applying for falls as a Community Lending Product, these fields will be opened. MSA or County Name – Select the applicable County from the drop down table Product – Select the applicable Community Lending Product from the drop down table Neighbors Eligible and Community Seconds – select the appropriate answer from the drop down tables. Once the fields are completed, click on SAVE, then the SUBMIT buttons.

71 After you CLICK Submit, the system will take you to the Fannie Mae DU Submission Results screen.
         Subsequent DU results will appear with the most recently run at the top. You can see at a glance the Case File ID, Status Conditions and Recommendation. To review findings, click on FINDINGS. If you received and error, you can click on the LOG to view the errors. The RESUBMIT button takes you to the Additional DU Submittal Information Screen.

72 Click on FINDINGS to see your DU Findings page.

73 If it Failed: You would check your error log to see what information was missing from your 1003.

74 If DU was previously run, or the DU run through the LOS System, the Case file # will be imbedded within the 3.2 file and will populate the DU Case file ID field. The Request field will default to “Resubmit DU”. Select the correct Credit Provider. Click SAVE. Click on SUBMIT. Once the DU has been completed, it will take you to the Submission Results screen, where you will be able to see the Recommendation.  Select the RE-SUBMIT button in the upper right of the screen, which will open up the DU Submittal Page. PLEASE NOTE: If you have previously run DU through SNAP and you’ve come to this screen and it states “ORDER NEW”, please contact SFHELP.

Lock Confirmation view Quick Link to Upload 3.2 Quick Link to Attachments Quick Link to Credit Report Loan Status Order Documents

If you want to check on the status of your loans, attach Documents or conditions or go to the Appraisal Request System, you would click on CLOSE IT from the HOME PAGE. You can page through your Pipeline by clicking on the Next, Last, First or the Page number You will see Dropdown Box with choices on how to search for your loan. You can search by LAST NAME, SSN, LOAN NUMBER and STATUS.

77 BORROWER’S NAME: this is the link back into the loan.
STATUS: This reflects the current loan status in the database. You will be able to see if it is underwriter received or approved, etc. You will click on this to see your loan approval and it will show all outstanding conditions. If Status shows Suspended or Denied – Click on the status for the reasons.

78 PENDING LOCK: Immediately after requesting a Lock, your Pipeline will display a Question Mark (?) over the padlock icon and “pending” will appear in the Expiration date column. The Lock request will be processed by our Lock Desk, and when completed you will receive an confirmation from the Lock Desk with your Locked Terms. PADLOCK: This shows if your loan is locked or unlocked. If the pad lock is closed, you can click to see your rate lock confirmation. You can also upload or manually enter a new loan from this screen. I can help you! To see all your prequals, as well as all of your active pipelines, please check the ALL Box.

79 New Apps: Upload 3.2 file REFER to Section 5 Page 33
Paperclip – When you click on the paperclip, the Upload documents screen will appear.  You will be able to upload and attach  other documents or view documents already uploaded.  Credit Report Icon – When you click on this icon, you will be taken to the Credit report run through the system.                              

To see your Approval, Click on the status of your loan in the Status column on the Pipeline view: Your loan approvals will be in this format. Once all your Prior to Doc Conditions have been signed off, you will be able to complete your DOC request.

81 To view Suspended or Denial reasons, click on the status in the Pipeline and you will see the Loan Details screen. Top section reveals the Reasons why loan was Suspended or Denied. The Lower section reveals the terms in which the loan was Underwritten.

To order documents, click on the Status in the Pipeline and the ORDER DOCS button will appear Once all your PTD’s are signed off (our loan must also have a valid lock), simply click on the ORDER DOCS link on your approval page and the doc order form will open up. Complete all information and then click SUBMIT. PRINT and then click on the .

83 For additional help you can call 800-314-1225 and select Option # 3
              Or send an to with your questions.

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