FT360 TPO User Manual
Contents
1. Fastlrac 3607 PRMG Lending Technology y t Residential Mortgage Group Inc Parumoun den a wo Paramount Residential Mortgage Group Inc Third Party Origination Website User Guide 8 19 2015 Third Party Origination Website User Guide Copyright Statement Equal Housing Lender NMLS 75243 2009 Paramount Residential Mortgage Group Inc Some products may not be available in all states This is not a commitment to lend Restrictions apply All rights reserved 2012 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 PRMG 6 Pema est eGo Introduction Table of Contents BEEF OCC TON evs anc cesctetciese ce sajee secs caeec receded E A O A 4 MUOG ON ene a EEE E EE E E EEEE E A E E EE A EEEE E EE EE E EEE E 5 Gewn UAL aise soto re r S swede ea eurisaceasbansatonucesieunversdinawcuncsastedoascumsentecsuansiesetuedi 6 CATT tc g cle Eee een ea ne eee en E ee eee ae ee ee ee ee ee eee 7 Gaining Initial Access to the Website cee ccccccceeeeeceeceeeeeeeeecaeeeeeeeeseeaeeeeeecaeaeeeeeesaeaseeeeesseaseeeeseseaseeeesseeaeeeeessaageeeesesaaees 7 Start Using the Website TOols cccccccccsssseceecceesseceeecaesseceeessaeseceeeesaaseceeeesaaeeeeeessaaeceesssaaeeeeeessaaseeesessaaeee2. Property Address 123 Main Street Property City Mission Viejo California CA PRMG Paramount Residential Mortgage Group Inc 32 Sectio n 3 Worki ng with Loans Third Party Origination Website User Guide 1 Choose whether you want to do a Lock Extension or a Profile Change 2 Fora Lock Extension complete the remaining fields a Borrower AANMMBRoanM A Submit a change request Select type of change request gt 1 Lock Extension Profile Change Select Lien First Lien Y Enter lock extension days E Calculate Cost Cost Lookup Apply Change Borrower Information Borrower First Name Borrower Last Name Minnie Borrower A Loan Summary Product Status PRMG Agency Products Agency 30 Vear Fixed EES Loan Amt Price Estimated Value 100000 0 Rate Price 4 75 103 612 Loan Notes 3 Fora Profile Change click the Profile Change button Blue Select the changes you want and click Submit Section 3 Working with Loans Borrower Home Phone Borrower Email 800 900 5500 tracy wolfordco com LTV Lock Expiration 66 67 9 21 2015 Appraisal Amount 150000 Lock 60 Anew search box will open up in Optimal CPRMG Paramount Residential Mortgage Group Inc 3 3 Section 4 Adding Documents amp Viewing Conditions aramount Residential Mortgage Group Inc P Third Party Origination Website User Guide Adding Documents As you work to process your loan you will need to add doc
3. and then select an action NOTE The actions that are listed under the Loan Actions button are determined by our company s website administrator Therefore you may not have access to some of the actions discussed in this section The administrator may also disable a loan action once another loan action is completed Welcome Page gt Pipeline gt Loan Details 4254566644 New Loan John Loan Details Loan Actions Loan Summary 1005 Conditions amp Documents Lock Information Fees Product amp Pricing Loan Officer Corporate Tracy Broker Automated Underwriting Loan Processor Corporate Tracy Broker Order Reissue Credit Submit Loan Loan Summary Loan Number Loan Amount Channel Loan Type Changed Circumstance Underwritten By Subordinate Financing Import Additional Data Borrower Name John Homeowner Subject Property Address 5863 Miltary Road Bethesda MD 20729 1234 Property Type Detached Import Additional Data If you originated a loan on the website by importing the file from another LOS and changes have since been made to the file in the LOS use the Import Additional Data action to import the changes to your file on the website To Import Additional Data 1 From the Loan Actions section choose and then click Import Additional Data 2 Select the LOS or file format to import from and then select which fields to import and how to manage existing lists such as liabilities PRMG Section 3 Working
4. After submitting the loan you may need to change loan information When certain loan information changes such as the loan type or loan program a new disclosure is required Use the Changed Circumstance action to re submit the updated loan to the underwriter To Re Submit the Loan to the Underwriter Due to a Changed Circumstance 1 From the Loan Actions section choose and then click Changed Circumstance 2 On the Changed Circumstance page select a description of the circumstance from the Changed Circumstance drop down list 3 Ensure that all of the required information has been entered and the required documents have been attached and then click the Changed Circumstance button Required fields are marked with a red asterisk Lock Request Optimal Blue If you are using a TPO WebCenter site where Optimal Blue is the product and pricing provider you do not have the option to submit a rate lock request from the site Instead you must first submit the loan scenario through the Optimal Blue product and pricing engine on the site and then submit a rate lock request on Optimal Blue s Product and Pricing Result page To Submit a Lock Request 1 From the Loan Actions section choose and then click Product and Pricing 2 Enter the required information in each section of the Product and Pricing Search page and then click Next NOTE If one or more fields or documents in the Additional Fields for Lock Request section are empty or missing
5. Origination Website User Guide Introduction PRMG 4 Paramount Residential Mortgage Group Inc Introduction Introduction Introduction This guide is intended to help you work with our company s website which connects directly to our loan origination system LOS The website provides a central online location where you can originate process and monitor loans After logging into the website you can originate new loan files or import loan files created from your own LOS Once the loan is added to our website you can submit the loan or take actions such as ordering a credit report or searching for product and pricing options You can also use the website to monitor the loan s status At the same time we can monitor the loan activity in our LOS and ensure we are receiving all the necessary information we need Changes made to the loan file on the website are reflected in the loan when opened in our LOS and vice versa This guide provides all of the instructions necessary to log into the website and start originating and processing loans Paramount Residential Mortgage Group Inc Section l Getting Started Paramount Residential Mortgage Group Inc Third Party Origination Website User Guide Getting Started This section explains how you can start using the website and includes a brief description of the main tools available on the website Gaining Initial Access to the Website Once approved by our company
6. Website User Guide ie Click the Add Liabilities button located at the bottom of the list to enter additional liabilities A 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 O1 To add a new liability click the Add Another button and enter the liability details When finished click the Done button To modify a liability click the Edit link at the right of the liability N O 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 Click the Enter Real Estate Information button 2 Enter information about the real estate owned by the borrower including any outstanding liens 3 Click the Add Another button to add information about an additional real estate holding 4 When finished click the Done button Trans Details Tab Use the Trans Details tab to enter the subject property s purchase price and other transaction details When creating a loan manually you will have access to the following fields Purchase Price Alterations Land Subordinate Financing Line Credits PMI MIP Funding Fee Financed NOT
7. Yes Not Specified Y None v None v Property Zip 92691 Loan Type s Conforming Loan Term s 30 Yr Amortization Type s Fixed ARM Fixed Term s 5 Yr Exp App Level s N A E Print Fulrig Bytype Side Full Traditional Links Hligible Product Discount Rebate Price P amp I Detail Compare M Agency DU Portfolio 30 Year Fixed 4 394 4394 104 394 _ Agency 30 Year Fixed 4 369 4369 104 369 522 Links Ineligible Product Exception Request Agency DU Portfolio High Balance 30 Year Fixed Agency High Balance 30 Year Fixed Agency LP 30 Year Fixed Agency Texas Home Equity 30 Year Fixed DU Refi Plus 30 Year Fixed DU Refi Plus 30 Year Fixed LTV 80 01 Thru 105 DU Refi Plus High Balance 30 Year Fixed DU Refi Plus High Balance 30 Year Fixed LTV 105 01 Thru 125 DU Refi Plus High Balance 30 Year Fixed LTV 80 01 Thru 105 OB GD CD ED Ee De FHLMC Super Conforming 30 Year Fixed 6 Click the Select button to choose the product s interest rate NOTE Click the Update Encompass button to apply the interest rate or click Request Lock to request a rate lock For more details about requesting a rate lock refer to the Lock Request discussion later in this section Full Orig v ByType Side Full Traditional Links Eligible Product Rate Discount Rebate i P amp I Detail Compare E A DU Portfolio 30 Year Fixed 4 394 4394 104 394 522 Hide O 3 ae DR T
8. and Pricing Click the Product amp Pricing button 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 Product and Pricing Search Optimal Blue l Borrower Information Credit Information Atleast one borrower credit score must be provided to continue Borrower Experian FICO Borrower TransUnion Empirica Borrower Equifax BEACON Co Borrower Experian FICO Co Borrower TransUnion Empirica Co Borrower Equifax BEACON Credit Score for Decision Making DTI NOTE All of these items are discussed in detail later in this guide PRMG Section 1 Getting Started eee Section PA Originating Loans aramount Residential Mortgage Group Inc P Third Party Origination Website User Guide Originating Loans You can originate a loan on the website by uploading an existing loan file from Encompass360 or other loan origiantion system or by creating a loan manually This section provides the steps for uploading an existing loan from Encompass360 and creating a loan manually Uploading an Existing Loan from Encompass360 To Upload a Loan From Encompass360 1 2 3 5 On the Welcome page click the New Loan button Select E
9. 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 Log into the website using your email address and the temporary password provided in the email 3 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 Welcome Tracy Broker Log Cut Contact Us P RMG MORTGAGE BANKERS Welcome Tracy View Pipeline New Loan Product amp Pricing Manage Account Welcome to our website We look forward to putting our mortgage services to work for you We offer the best mortgage tools available on the Internet easy convenient online shopping for the best loan programs and most current rates available together with the assistance of an experienced live loan officer to guide you through the often difficult and confusing process of choosing and getting the exact loan to meet y
10. when you click Next a warning message displays stating All of the required information needed to request a lock is not available If you continue you can view the results but will not be able to place a lock request Click Cancel to return to the Product and Pricing Search page and enter the missing information 3 On the Product and Pricing Result page click Show to view the program s interest rate and other details Paramount Residential Mortgage Grot n 30 Section 3 Working with Loans Third Party Origination Website User Guide 4 Click the Lock Form icon for the rate you are requesting Resources amp Tools Welcome gt Pipeline gt Loan Details gt Product and Pricing Search gt Product and Pricing Result Optimal Blue Product and Pricing Result Optimal Blue Mae 10 Year Fixed 5501 Flagstar Correspondent Fannie Mae HomePath 10 Year Fixed N A N A N A N A N A Show 5349 Flagstar Correspondent Freddie Mac 10 Year Fixed Rate N A N A N A N A N A N A Hide 5302 E Search Timestamp 04 23 12 4 49 PM Discount Rebate Compensation Select The following risk based adjustors have already been applied to Discount Points SRI Margin Total Adjustments 0 000 0 000 0 000 Notes Advisories 1 For this scenario AUS Not Specified was run through eligibility and pricing as LP 5 Click the Request Lock button NOTE If you did not provide all of the requir
11. 03 form remains open and you can continue adding data Click the Save and Close button The 1003 page will close and you will be taken to the Loan Details page Paramount Residential Mortgage meste O Section 2 Originating Loans Third Party Origination Website User Guide Save and Close af The Current loan has been saved Loan Borrower Employment Income amp Assets amp Transaction Declaration amp Comments Information information History Expenses Liabilities Details Gov Monitoring Select Borrower Pair 1 Sarah Sample The income assets ofa person other than the Borrower will be used The income assets ofthe Borrowers spouse will not be used Agency Case Number Lender Case Number 4754566676 Section of the Act T l Types of Mortgage and Terms of Loan Loan Amount 100 000 00 Lien Position First Loan Type Conventional si Number of Months Due In 360 months PRMG Section 2 Originating Loans Pear Roos Maar GE A Section D Working with Loans aramount Residential Mortgage Group Inc P Third Party Origination Website User Guide Working with Loans 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 ordering a credit report submitting the loan or submitting a lock request To perform an action click any of the Loan Action buttons at the top of the Loan Details page or the 1003
12. E 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 Paramount Residential Mortgage Grot mE 4 8 Section 2 Originating Loans VIL Details of Transaction a Purchase Price b Alterations c Land d Refinance e Estimated Prepaid Items f Estimated Closing Costs g PMI MIP Funding Fee h Discount if Borrower will pay i Total Costs a through hj j Subordinate Financing k CC paid by Seller soo o soo soo o shara sezo soo soo 151 961 96 soo o soo o Third Party Origination Website User Guide oe o ms oe E zoo oer vit SEOS y E Gers m Loan Amount 100 000 00 n PMII MIP Funding Fee Financed fs o Total Loan Amount m n 100 000 00 Total Credits j through n 102 162 53 p Cash to from Borrower 149 799 43 A negative value indicates cash to borrower Declarations and Gov Monitoring Tab Select Yes or No for each question and then select the appropriate options in the Information for Government Monitoring section This information reflects the information found in Sections VIII and X of the Uniform Residential Loan Application VIII Declarations Borrower Co Borrower Are there any outstanding judgements against you Yes No O Yes No Have you been declared bankrupt within the past T years W Yes No Yes No Have you had prop
13. ERA Pricing Last Updated 08 03 15 7 20 AM View Pricing for lock period 15 Efi 45 60 Expiration MOTE Search Timestamp 06 03 15 10 05 AM Discount Rebate Bona Fide Discount in Points 1 781 1781 98 219 1 781 0 872 872 99 128 0 872 0 149 149 99 851 0 149 0 451 451 100 451 0 000 0 531 531 100 531 0 000 1 439 1439 101 439 0 000 2 214 2214 102 214 0 000 2 826 2826 102 826 0 000 3 072 3072 103 072 0 000 3 851 3851 103 851 p 4 825 4825 104 825 5 351 5351 105 351 6 001 6001 106 001 The following risk based adjustors have already been applied to Discount Reason Points Rate Margin Loan Amt lt 139999 AND Loan Amt gt 100000 FICO is 700 719 AND LTV is 60 01 70 0 250 0 000 0 000 0 500 0 000 0 000 Total Adjustments 0 000 0 000 1 For this scenario AUS Not Specified was run through eligibility and pricing as DU 2 High cost loans are not allowed 3 _All loan scenario pricing is subject to PRMG Secondary Marketing final approval Maximum or minimum price caps may apply PRMG Feet Rtas Ne OG Section 3 Working with Loans Third Party Origination Website User Guide Automated Underwriting Once you have run the loan through the product and pricing engine and applied an eligible interest rate to the loan you can submit the loan for Automated Underwriting To Submit the Loan for Automated Underwriting 1 From t
14. Mortgage mean O y Section 3 Working with Loans Third Party Origination Website User Guide Welcome Page gt Pipeline gt Loan Details gt Product and Pricing Search Optimal Blue Product and Pricing Search Optimal Blue Borrower Information Credit Information At least one borrower credit score must be provided to continue f10 Bormower Experian FICO Bormower TransUnion Empirica Bomower EquifawBEACON Co Borrower Expenan FICO Co Borrower TransUnion Empirica Co Borrower Equifax BEACON Credit Score for Decision Making DTI Current Employment Employer Name Self Employed BIG CO O Yes No ves No ll Subject Property Information State Zip CALIFORNIA 3 At the bottom of the screen enter a Target Rate or a Target Price V Search Information Either a target rate or target price must be entered to continue Target Rate Target Price Target Lock Period 4 Click the Next button 5 Click an eligible program s Show link to view the product details Section 3 Working with Loans PRMG Paramount Residential Mortgage Group Inc 2 5 Third Party Origination Website User Guide a Selected Loan Loan ID 6427 Status Registered Borrower Sample n uw a Re Submit Options jiii Revise Search Loan Amt LTV o CLIV ___ __ Desired Rate Desired Price 100000 66 67 o 4 75 Interest Only Waive Escrows AUS Buydown Prepayment Penalty No v
15. ca Borrower Equifax BEACON Co Borrower Experian FICO Co Borrower TransUnion Empirica Co Borrower EquifawBEACON When prompted click Yes to save the loan file On the Review Credit Order Reissue page enter the required information and then click the Next button 4 Once the credit report is received the Credit Report Received page displays where you can then click the Import Liabilities button to import liabilities Welcome Page gt Pipeline gt Loan Details gt Credit Report Received Credit Report Received The liabilities automatically populate the liens in Section VI of the Uniform Residential Loan Application form 5 When finished click the Done button 6 On the Loan Details page click the 1003 button to return to the electronic 1003 form where you can continue entering loan data Employment History Tab Use this tab to enter the borrower and co borrower s employment information To Enter Employment Information 1 Click the Enter Employment Information button PRMG ET Section 2 Originating Loans Third Party Origination Website User Guide 2 Indicate whether this information is about the borrower s current employer or previous employer and Loan Details Loan Actions Product amp Pricing Automated Underwriting Order Reissue Credit Submit Loan Changed Circumstance Import Additional Data then enter the remaining employment information Loan Summary 1003 Add Another C
16. e and Close Loan Borrower Information Information Select Borrower Pair The income assets ofa person other than the Borrower will be used The income assets of the Borrower s spouse will not be used Agency Case Number Lender Case Number section of the Act Conditions amp Documents Employment Income amp Assets amp Expenses Liabilities 1 Sarah Sample 7000169465 l Types of Mortgage and Terms of Loan Loan Amount Lien Position Loan Type Number of Months Due In Interest Only Amortization Type Interest Rate Prepayment Penalty Ml Months Ml Coverage Borrower Information Tab 100 000 00 First Conventional 360 360 months months Lock Information ss ooo Declaration amp Comments Gov Monitoring The Borrower Information tab includes the information around the borrower and their residency Here you can also order or reissue your credit report and import credit data Note that when reissuing the credit report you need to provide the Credit Reference Number To Order or Reissue the Credit Report 1 Click the Order Reissue Credit button Section 2 Originating Loans PRMG Paramount Residential Mortgage Group Inc 3 Third Party Origination Website User Guide Credit Information Credit Reference Number Order Reissue Credit View Credit Import Credit Data Borrower Experian FICO Borrower TransUnion Empiri
17. ed L Client Folders L Forms I Go To Meeting Recordin I HR Docs Invoices TL l Kristie D Logos D Marketing New Client Info Old Files Real Estate __ SUZI BUILDER fnm 7 11 2015 4 17 PM __ Sarah Sample fnm 7 29 2015 1 15 PM i Sample_pay_stub 7 11 2015 4 18 PM Sample W2 7 11 2015 4 18 PM Sample W2 7 11 2015 4 18 PM Ma Sample URAR 7 11 2015 4 18 PM Ma Sample Title 7 11 2015 4 18 PM Sample Note 7 11 2015 4 18 PM E Sample Hazard 7 11 2015 4 18 PM Tl Sample DU 7 11 2015 4 18 PM r Previous Comments 5 Add comments in the New Comments section if necessary and then click the Save button PRMG Paramount Residential Mortgage Group Inc 3 6 Section 4 Adding Documents amp Viewing Conditions Welcome Page gt Pipeline gt Loan Details gt New Document Details New Document Details Third Party Origination Website User Guide Document Name For Borrower Document sent via fax Attached Files Documents Document Name File Name Income Paystubs TPCHnitial Submission Package TPO Resub Items Section 4 Adding Documents amp Viewing Conditions Income Paystubs Minnie Mae Borrower J Add More Files Updated pay stub for Borrower The document is now included in the Documents list on the Loan Details page Sample_pay_stub jpg TEST docx EE EA ET Details Add File Details Add File Details Add File PRMG Paramount Residential Mortgage Gr
18. ed fields or documents in step 2 but chose to continue and view the search results anyway this button will be disabled and you will not be able to submit the rate lock request The request is submitted Once the submission is processed you are returned to the Loan Details page A message confirming that your request has been submitted is displayed near the top of the page 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 View Pipeline button A Lock icon is displayed for each loan Welcome Page gt Pipeline Pipeline Product amp Pricing Active Archived Branch All Branches v View AllLoans My Loans Search By Borrower Name v Clear 1 20 E Borr Name Address Loan Amount Started Status Borrower Minnie Mae 4254566127 07 22 2015 Registered View Edit 123 Main Street 100 000 00 Mission Viejo CA 92691 BORROWER SAMPLE 4254566041 07 21 2015 New Loan View Edit 999 ANY ST 102 000 00 MISSION VIEJO CA 92691 BUILDER SUZIE 4254565642 07 11 2015 Started View Edit 5404 PAWNEE TRAIL 92 000 00 LOUISVILLE KY 40207 Section 3 Working with Loans eeee l S 31 Third Party Origination Website User Guide 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
19. eesseaeeeessanges 7 originating 2 UNS era se rec eee a cece ered eeie pen eae at vara cee ue eco ouieee acu eenernceevdees 10 HOTA TORING sacra E TAE EEEE E asses onan seceon anes EE EE EE E AE A E E EEE EE 11 Uploading an Existing Loan from Encompass 3G sxcccscsestiesccsdceacevdersicacdocsswneaibeees EE NEEE 11 re ale 2 CO NIA Y ea EE E EE N E I E 12 WOKING WIN LOANS siiicar aeea aE aaa aE a E i 22 Wor TOW LO eE E EE E EEEE EAE E E EE EEE E AE EE AN EEEE AN E EE EE AE AE 23 IMS OI FACING aE E E E E E E E E E E EE E E 23 Ader RESE Ge i ea a EAEE E E E EEEE ERA EEEE 24 PLOCU CTO FAC I eiaa E E E E N E E R E ete 24 Automated AST NA seisein a E R E iaae a A a 27 COMI LEON e E E E E ER aut oeedneanee sade sepsacessa se ecesaes 28 Fe NEL ON secs as gens cote geste tnec css ne ep ec A E E E AS 30 Changed Cretm stane Essonne r e eE i EEE E E AEE EE EE EE EE EEEE ER 30 Lock Request ODI aN BUE sssrinin a i ENA eea a iaae ia i aia 30 Lock Extension and Change of Circumstance ccccccccsseeeeeeceeeeeceeeeeeeeeceeeeeeeeeeeeesseaseeeeesseeseeeeeseaeeeeeessaaeeeeesaaeeeeeeeaas 32 Adding Documents amp Viewing Conditions scceeeeeeeeeseeeeeeeenseeeeeeoesseeesseeesseeeeeonesseeeeeooeaseeeeeoesaseeeseoessseesseoenseesssonenss 34 PRUNING 1 OC GING FINS ee e S EE E EE E E checeueandatentaes 35 NTS TC ONS ccna cage E EE iene A E E E 38 MMI LOANS crni teas ae ceccaene weap ume E OEE E h 39 PRMG Introduction anaes Gon Third Party
20. erty foreclosed upon or given title or deed in lieu thereof in the last years Are you a party to a lawsuit Have you been obligated on any loan which resulted in foreclosure transfer of title in lieu of foreclosure or judgement Section 2 Originating Loans er Third Party Origination Website User Guide 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 New button Loan Borrower Employment Income amp Assets amp Transaction Declaration amp Comments Information Information History Expenses Liabilities Details Gov Monitoring 1 Sarah Sample lll Borrower Information Borrower Information Borrower First Name Sarah Borrower Middle Name Borrower Last Name Sample Suffix Social Security Number 1711 55 77 77 Date of Bi rth 0 1 O 1 i 96 1 mirud dyyyy Marital Status Unmarried Number of Dependents 0 Create a borrower pair by entering the required information for the co mortgagor s When finished click OK At the top of the page select the new borrower pair from the Select Borrower Pair drop down list oa fF W N 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 There are two ways to save the information you have entered on the 1003 Click the Save button The 10
21. fter you finish entering information on a tab click the next tab to proceed until all of the information is entered 6 Proceed to the Loan Information Tab section of this document for instructions for completing the first section of the 1003 and then continue on for instructions for the remaining tabs Create a Loan Manually To Create a Loan Manually 1 On the Welcome page click the New Loan button 2 Select Create Manually and then click the Next button New Loan Select an upload method to get started Upload from Encompass Desktop Originator Casefile ID DU 3 2 File inm Create Manually Loan Officer Corporate Tracy Broker Corporate Tracy Broker An electronic 1003 form displays Using the tabs at the top of the form enter the required loan data After you finish entering information on a tab click the next tab to proceed until all of the information is entered mnie 49 Section 2 Originating Loans Loan Information Tab Third Party Origination Website User Guide The Loan Information tab includes the information around the type of mortgage and loan terms property information and title information This is the information contained in Sections and II of the Uniform Residential Loan Application form Loan Details Loan Actions Product amp Pricing Automated Underwriting Order Reissue Credit Submit Loan Changed Circumstance Import Additional Data Loan Summary 1003 Sav
22. he Loan Actions section choose and then click Automated Underwriting 2 To pass credit reissue information when you submit the loan to automated underwriting clear the Continue without passing credit check box Enter the required information Required fields are marked with a red asterisk To submit the loan without passing credit reissue information select the Continue without passing credit check box 5 Click the Next button Click the View Underwriting Report button to view the report Welcome Page gt Pipeline gt Loan Details gt Underwriting Report Recenved Underwriting Report Received 7 When finished click the Done button to return to the Loan Details page PRMG Section 3 Working with Loans missenmescon 27 Third Party Origination Website User Guide Submit Loan Once you have completed the loan and run it through the product and pricing engine and applied an eligible interest rate to the loan you must use the Submit Loan action or the Automated Underwriting action discussed earlier to ensure that the loan is submitted to the underwriter To Submit the Loan to the Underwriter 1 From the Loan Actions section choose and then click Submit Loan 2 Ensure that all of the required information has been entered and the required documents have been attached and then click the Submit Loan button Required fields are marked with a red asterisk Property Type Detached Property will be Pr
23. imary Residence Number of Units 1 Loan Amount 375 000 00 Number of Months 360 Purpose of Loan Purchase Impound Waiver Not Waived Y Documentation Type F Full Documentation Prepayment Penalty No F Purchase Price 375 000 00 Required only if Purpose of Loan is Purchase Interest Only months c z 2 ren Appraised Value 375 000 Required only if Purpose of Loan is Cash Out Refi No Cash Out Refi or Construction Perm Loan Officer Corporate Tracy Broker Loan Processor Corporate Tracy Broker Required Documents Document Name File Name TPO Initial Submission Package TEST docx Rei mi 3 After the loan is submitted you can take additional actions with the loan such as requesting a rate lock NOTE You can request a rate lock before you submit the loan or at the same time that you submit the loan to the underwriter For more information refer to the Lock Request discussion later in this section ae Section 3 Working with Loans Third Party Origination Website User Guide Loan Summary 1003 Conditions amp Documents Lock Information Fees Loan Summary Loan Number Loan Amount Channel Loan Type Underwritten By Subordinate Financing Borrower Name Sarah Sample Subject Property Address 1500 Crazy St Candyland CA 92691 Property Type Detached Property Usage Primary Residence You can track the loan s progress using the pipeline The loan s status is d
24. isplayed in the Status column Loans that have not been submitted have a status of New Loan Once a loan is submitted its status changes to Started Welcome Page gt Pipeline Pipeline Active Archived Branch All Branches Y View AllLoans My Loans Search By Borrower Name Y Ea 1 20 Borr Name Address a Loan Amount Started Status Lock Exp Borrower Minnie Mae 4254566127 07 22 2015 Registered 09 21 2015 View Edit 123 Main Street 100 000 00 Mission Viejo CA 92691 BORROWER SAMPLE 4254566041 07 21 2015 08 23 2015 View Edit 999 ANY ST 102 000 00 MISSION VIEJO CA 92691 BUILDER SUZIE 4254565642 07 11 2015 2 View Edit 5404 PAWNEE TRAIL 92 000 00 LOUISVILLE KY 40207 PRMG Paramount Residential Mortgage Group Inc 2 9 Section 3 Working with Loans Third Party Origination Website User Guide Re Submit Loan After submitting the loan you may have to add more required loan data Once you have added this new information on the Re Submit page you can use the Re Submit action to ensure that the loan is submitted to the underwriter To Re Submit the Loan to the Underwriter 1 From the Loan Actions section choose and then click Re Submit 2 Ensure that all of the required information has been entered and the required documents have been attached and then click the Re Submit Loan button Required fields are marked with a red asterisk Changed Circumstance
25. ncompass and then click the Next button On the Encompass Import Loan page enter your Encompass360 Login Name i e user ID and Password Select a connection Offline or Networked enter the Server name if necessary and then click Login Welcome gt Pipeline gt Encompass Import Loan Encompass Import Loan Login Data Login Mare hank C Offline f Networked Password Serer http BG 109 732 914 Save Login Data Select the loan to import from the Encompass360 Pipeline and then click Submit CPRMG Section 2 Originating Loans rn 2 Third Party Origination Website User Guide Welcome gt Pipeline gt Encompass Import Loan Encompass Import Loan Tou are curently logged in as time Change Login Data Folders M y Pipeline s Address Loan Number Processor Officer Current Mil 1234 State Street TIOBEMOOU0TE Tim Canterbury Started 1106 M0000145 Tim Canterbury Started food Trade Street T1I02ZEMO00001 Tim Canterbury Qualificatia Brd Main Street T106EMOO00T 2 Tim Canterbury Jr Started TOZA Whitehouse Drive 1102 M00000 Tim Canterbury Qualificatia 126 Construction Way Tim Canterbury Started 123 state Street TIO6EMOO001 7 Tim Canterbury Started Find Last Mame PO Find ClickLoan Submit Fowereo ey ELLIE MAE An electronic 1003 form displays populated with data from the loan you imported Using the tabs at the top of the form enter the required loan data as needed A
26. onditions amp Documents Loan Borrower Employment Income amp Information Information History Expenses Select Borrower Pair 1 Sarah Sample Enter Employment Information Please enter employment information for the past 2 years Current Previous Employment Current Employer Name O Employer Address City State fip Work Phone Position Title Business Type Self Employed Yes No Years on the Job Years Years in Line of Work Employed From mmvddiyyyy Employed Ta Add Another Lock Information Fees Assets amp Transaction Declaration amp Liabilities Details Gov Monitoring Comments Ss oo Months 3 Click the Add Another button to add information about a different employer 4 When finished click the Done button Income and Expenses Tab 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 NOTE A proposed monthly payment will not be calculated until you submit the loan file to the product and pricing engine discussed in Section 3 and select a program rate price combination Once the selected interest rate is applied to the loan a proposed monthly payment will be calculated Section 2 Originating Loans PRMG Paramount Residential Mortgage Group Inc 5 Third Party Origination Website User Guide Loan Borrower Employment Income amp Asse
27. orner of the pipeline to remove the loan from the pipeline and add it to the Archived pipeline Click the Archived tab to view the Archived pipeline To bring the loan back to your current pipeline from the Archived pipeline select the check box for the loan and then click the Undo Archive button located in the upper right corner of the pipeline Loan applications that have been denied are highlighted in pink An alert icon red flag also displays next to loans that have been suspended or denied by the underwriter Click this icon to view the date in which the loan was suspended or denied by the underwriter 40 Section 5 Archiving Loans
28. oup Inc 3 7 Third Party Origination Website User Guide Viewing Conditions Once the loan has been underwritten you can view the conditions that have been added in the Conditions section of the Loan Details page There you can view condition details and add documents to satisfy the conditions To View Conditions 1 On the Loan Details page scroll to the Conditions section near the bottom of the page 2 Click the Details link to view the condition details Conditions Notification was sent to the lender on 08 0215 SearchBy PriorTo lt All gt E ees F Condition Name tatu Status Date Supporting Documents E Appraisal 08 03 2015 Added 08 03 2015 Details Assign Doc Form 1004 SFR 1073 Condo or 1025 2 4 units supporting a value of is required for this transaction In addition form 1004M must be completed for any transaction on which an appraisal is obtained Assets Bank Statements Conv Details Assign Doc Borrower to provide most recent bank statement s all pages for the following institutions Letter of explanation and documentation required for single deposits in excess of 50 of borrower s total income earnings Assets Large Deposits Details Assign Doc Borrower s to explain and source the following large deposits 3 Click the Assign Doc link to add a document from the Documents list or a file from your computer to satisfy the condition Assign Document Compliance Repo
29. our specific needs LWOaLY Le oN 265 Corona Pointe Court Suite 301 Corona CA 92879 National Association of Mortgage Brokers Toll Free 200 999 9999 lTsupporti prmg net OPPORTUNITY gt opyright 2015 NMLS 75243 EQUAL HOUSING t Residential Mortgage Gi pup Inc SUS Paramount MESK OTT ae t Privacy Policy Security Statement Site Map PRMG Section 1 Getting Started eee y Third Party Origination Website User Guide Add Users to the Website In order for other users to gain access to the website the manager must create a contact record for each user To Create a Contact Record 1 Click the Manage Account button 2 Scroll near the bottom of the Manage Account page until you locate the Contacts section Here you will add the users who will be able to use the website 3 Click the Add icon Contacts Search By FirstName Y 1 1 T First Name Last Name Address Business Phone Email Status Branch Roles Kristie Wolford 100 Main Street kristie wolfordco com Enabled Corporate LO ViewiEdit Delete Mission Viejo CA 92691 4 Enter the required information for the user Required fields are marked with a red asterisk 5 When finished click the Save button The user will receive an email that provides a link to the website along with a log in name their email address and a temporary password The user can log in to the website however their licensing information needs to be submitted to and then approved b
30. requested Rate has been requested Rate is locked but an extension has been requested Rate is unlocked 2 Or open the loan and then scroll to the Lock Information section on the Loan Details page Loan Summary 1003 Conditions amp Documents Lock Information Fees Lock Requests Current Lock Status Locked Current Lock Date 07 22 2015 Current Lock Expiration 09 21 2015 Request Date Time Status Request Type Request Details Confirmation Details 07 22 2015 11 51 AM Locked Lock View View Lock Extension and Change of Circumstance When enabled on your TPO site TPOs can request lock extensions for loans when the lock is confirmed but not expired To Request a Lock Extension or a Change of Circumstance 1 Open the loan from the Loan Actions section choose and then click Product amp Pricing 2 Complete all required fields and click Next to go to Optimal Blue 3 Once in Optimal Blue click the Change Request icon Welcome Page gt Pipeline gt Loan Details gt Product and Pricing Search gt Product and Pricing Result Optimal Blue Product and Pricing Result Optimal Blue Lock Form w Rate Sheet ww 5097 Borrower PA A o gaje c F52 2 Borrower Information Borrower First Name Q Borrower DOB Borrower SSN Minnie r 1965 01 01 456789100 FICO 700 Self Employed Citizenship No U S Citizen Encompass Loan Number 4254566127 Property Information Property Type Occupancy Single Family Primary Residence
31. rt Minnie Mae Borrower Add File Browse Browse Browse 4 When finished adding supporting documents click OK PRMG Paramount Residential Mortgage Group Inc 3 8 Section 4 Adding Documents amp Viewing Conditions Section 9 Archiving Loans 4 P RM G i aramount Residential Mortgage Group Inc z Third Party Origination Website User Guide Archiving Loans Keeping your pipeline current is the best way to stay on top of your loans The Archiving function allows you to remove loans that are stagnant or have funded out from your current pipeline view To Archive a Loan 1 On the Welcome page click the View Pipeline button 2 Select the check box for the loan you want to archive Welcome Page gt Pipeline Pipeline Product amp Pricing Active Archived Branch All Branches v View All Loans My Loans Search By Borrower Name v Clear 1 20 ofat ea Borr Name Address a Loan Amount Started Status Lock Exp Borrower Minnie Mae 4254566127 07 22 2015 Cond amp 0921 2015 View Edit 123 Main Street 100 000 00 Approval Mission Viejo CA 92691 BORROWER SAMPLE 4254566041 07 21 2015 New Loan amp 08 23 2015 View Edit 999 ANY ST 102 000 00 MISSION VIEJO CA 92691 BUILDER SUZIE 4254565642 07 11 2015 Started 4 View Edit 5404 PAWNEE TRAIL 92 000 00 LOUISVILLE KY 40207 3 Click the Archive button located in the upper right c
32. t Information section select an account or asset type and then provide its details 4 Repeat Step 3 to add additional accounts You can add up to four accounts for one financial institution 5 To add anew asset and account information click the Add Another button You can also click the Add Another button to continue adding accounts to the current asset but you will need to re enter the asset information as well 6 When finished click the Done button NOTE In addition to liquid assets you can also enter information about other assets including cash deposits toward purchase automobiles owned life insurance and stocks and bonds To Add Liabilities NOTE Liabilities listed in the General Liabilities section are usually the liabilities from the credit report 1 To import liabilities from the credit report click the Import Liabilities button 2 When prompted click Yes to save the loan file and then click OK to import liabilities General Liabilities Please provide information about liabilities Do not include liabilities entered under Real Estate Holdings Liability Type Balance Monthly Payment Months Left j Institution Installment 5 000 00 3 00 SALLIE MAE Installment 31 100 00 24 63 SALLIE MAE Installment 5 000 00 S2o0f 44 CHASE Installment 315 638 00 3900 03 TOYOTA CREDIT 3950 00 25 00 F UNIVERSAL VISA PRMG Paramount Residential Mortgage Group Inc 7 Section 2 Originating Loans Third Party Origination
33. ts amp Transaction Declaration amp Comments Information Information History Expenses Liabilities Details Gov Monitoring Select Borrower Pair 1 Sarah Sample i Manage V Monthly Income and Combined Housing Expenses Information Gross Monthly Income Base Overtime Bonuses Commissions Dividends Interest Net Rental Income Other Other Total 5 000 00 Other Income B G one EEE one a one A S S S Assets and Liabilities Tab 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 Liquid Assets 1 Click the Enter Cash and Deposits button 2 Enter the asset information PRMG ene 1 G Section 2 Originating Loans Third Party Origination Website User Guide Loan Borrower Employment Income amp Assets amp Transaction Declaration amp Comments Information Information History Expenses Liabilities Details Gov Monitoring 1 Sarah Sample Y Enter Cash and Deposits Enter asset information below Belongs To Borrower Institution Big Bank Address 2020 Main St City Orange State CALIFORNIA Zip 92828 Account Information AccountAsset Type Accountin the Name of Cash Value Account Number Checking Account Checking Account 5 Checking Account 2 5 7 T 5 Checking Account 3 Inthe Accoun
34. uments to complete the loan package NOTE Access to the Documents and Conditions section is controlled by the website administrator The actions you are allowed to perform and the types of documents and conditions you can access are also controlled by the administrator To Add Documents to the Loan 1 On the Loan Details page scroll to the Documents section near the bottom of the page 2 Click the Add New Document icon Documents El Print Fax Coversheet Document Name File Name TPC lnitial Submission Package TEST docx Details Add File TPG Resub tems Details Add File 3 On the New Document Details page select a document from the Document Name drop down list Welcome Page gt Pipeline gt Loan Details gt New Document Details New Document Details Document Name Appraisal 1004D Final Inspection For Borrower Minnie Mae Borower 7 Document sent via fax E Attached Files Doo y Doo y Doo y Doo E Add More Files New Comments PRMG Section 4 Adding Documents amp Viewing Conditions ene BE Third Party Origination Website User Guide 4 On Inthe Attached Files section click the Browse button to select the document Welcome Page gt Pipeline gt Loan Details gt New Document Details 42545660127 Registered Minnie Mae Borro New Document Details Document Name Income Paystubs For Borrower Minnie Mae Borrower Document sent via fax Attached Files Name Date modifi
35. with Loans eS Third Party Origination Website User Guide Welcome Page gt Pipeline gt New Loan New Loan Select an upload method to get started Upload from Encompass O Desktop Originator Casefile ID fs O DU 3 2 File fnm O Create Manually Loan Officer Tracy Broker Loan Processor Tracy Broker 3 Click the Next button and then follow the on screen instructions to locate the loan file and import the data Order Reissue Credit Using the Order Reissue Credit action you can order or reissue your credit report and import credit data To Order or Reissue the Credit Report 1 From the Loan Actions section choose and then click Order Reissue Credit 2 On the Review Credit Order Reissue page confirm that the order information is correct and then click the Next button to submit the order 3 Once the credit report is received the Credit Report Received page displays where you can then click the Import Liabilities button to import liabilities NOTE For more information and sample screens refer to the Borrower Information Tab section in Section 2 Originating Loans Product amp Pricing Use the Product amp Pricing action to run your loan scenario through the product and pricing engine To Request Pricing 1 From the Loan Actions section choose and then click Product amp Pricing 2 Enter the required information Required fields are marked with a red asterisk Paramount Residential
36. y our company before they can submit loan files This rule applies to branches that will use the website as well Submit user or branch licensing information to Add contact information for licensing information reviewer s View the Pipeline Click the View Pipeline button on the Welcome page to view your pipeline of loans Here you can check loan status view conditions attached to the loan and upload required documentation Depending on your assigned role and permissions you may be able to view all the loans that your team has entered on the website Active Archived Branch All Branches T View AllLoans My Loans Search By Borrower Name 1 21 Y foia Borr Name Address a Loan Amount Started Status Lock Exp Borrower Minnie Mae 4254566127 07 22 2015 Registered FA D 09 21 2015 View Edit 123 Main Street 100 000 00 Mission Viejo CA 92691 BORROWER SAMPLE 4754566041 07 21 2015 New Loan amp 08 23 2015 ViewlEdit 999 ANY ST 102 000 00 MISSION VIEJO CA 92691 PRMG DOO EER Section 1 Getting Started Third Party Origination Website User Guide Start a New Loan Click the New Loan button on the Welcome page to start a new loan You can enter a loan manually or upload loan files from Encompass360 or other loan origination systems and formats New Loan Select an upload method to get started Upload from Encompass Desktop Originator DU 3 2 File fnm Create Manually Get Product
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