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The Loan Handler User Manual - Mortgage Software and Loan

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1. Loan Origination Pas due Lender 1 500 1575 00 802 Discount Fee 01 Prepaid Interest 15 days 23 70 902 Private Mortgage Insurance Premium 1002 PMUMMI Impounds _ l9 months X ___ 43 75 per month 805 Lender s Inspection Fee 808 Tax Service Contract 808 Underwriting Review Foe 810 Administration Fes 811 Application Fea 812 Commitment Fee 813 Warehouse Fes Interest Differantial 814 Yield Spread Premium POC 815 Service Release Premium 0 500 525 00 p o c 816 Origination Fee Due Broker 817 FHA Upfront MIP VA Funding Fee aie Certifi i ee 819 Courier Fee 820 821 822 823 824 828 1101 Settlament or Closing Fee To 1107 Attorney Fea To Lender Paid Broker Paid 355 50 60 00 831 25 79 00 225 00 eH AHHH A N wor Pf eH rf HH a A 17 50 25 00 erty Insurance Premiums to Insurance Agency 903 First Year Hazard Insurance Framium 367 50 904 First Year Flood Insurance Premium 803 Approisal Fee To SMITH APPRAISERS _ __ 275 00 Paid 275 00 804 Credit Reporting Fees To CREDIT ASSOCIATES o __ 95 00 Psd 55 00 1101 Settlement or Closing Fes To 1105 Document Preparation Foe To CONTOUR DOCUMENT SERVICE 55 00 1106 Notary Fee To 1107 Attorney Fee To 1408 Title Insurance Premium To AMERICAN TITLE 351 00 1141 Endorsement To 1112 Title Binder 25 00 1201
2. New Additions to ePASS Family Home Providers offers DOWN PAYMENT Assistance Uncover Loan Audit Problems with Affinity Ordering Title from your LOCAL provider is as easy as ordering credit Find your ideal customers with LeadsToLoans Save Time amp Money Order Flood amp Tax with Universal Property amp Flood as Today s Mortgage News e Mortgage Rates Fall e Subprime Loan Sector Doing Surprisingly Well e Mortgage Loan Applications Up a HomeSide gt GE AU Central PMI Contract Underwriting First American Credco and Executive Reporting Services Ellie Mae Document Services First AmericanTitle First American Flood Data Services First American Appraisal Services First American Real Estate Solutions ValueWeb Please log onto enable your My ePASS customized links a Password My ePASS Password not ePASS Password e Mail Log On B Done SAMPLES EXCONARM 1 FHA 5 82 19 92 88 46 88 46 F745 ei eee The ePASS Toolbar ws Togale Press this button to import a web application from your Ellie Mae website if 99 from the Message List into The Loan Handler as a borrower file Press this button to organize your Message List Select No Grouping to View view the message list by the most recent activity select Group by Case to view the list of messages by case or file name Press the previous arrow to go back one page press the
3. DEMO ONLY NOT FOR RESALE Paga 1 of 2 GFEBRKR 09 99 43 Printed by The Loan Handier from Contour Software Inc 408 370 1700 weny contauracft com 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises GOOD FAITH ESTIMATE Lender Style L Not a Loan Commitment Lend DEMO ONLY NOT FOR RESALE Address 9999 YOUR ADDRESS YOUR CITY CA 99999 Applicant s ANDY EXAMPLE ANN EXAMPLE Property Address 123 ANY STREET COLUMBIA SC 29201 Sales Price 120000 00 Base Loan Amount 105000 06 Total Loan Amount 105000 00 interest Rate 8 125 Typs of Loan Conventional Preparation Date 01 27 00 Loan Number 1234567890 The information provided below reflects estimates of the charges which you are likely to incur at the settlement of your loan The fees listed are estimates actual charges may be more or less Your transaction may not involve a fee for every item listed The numbers listed beside the estimates generally correspond to the numbered lines contained in the HUD 1 or HUD 1A settlement statement which you will be receiving at settlement The HUD 1 or HUD 1A settlement statement will show you the actual cost of items paid at settlement A designates those costs affecting APR m f oe 2 801 A Origination Due Lender 1 500 802 A Discount 803 Appraisal Fas Credit Report 805 A Lender s Inspaction Fee 808 A Tax Service Contract 809 A Underwriting Review A Administration Fee 811 A Application Fee
4. C HANDLER CLOSED01 to hold files that were processed and Closed Denied Withdrawn Rejected etc By using F1393 from the HMDA LAR Screen and the Tracking Information form the loans in your CLOSEDXX directories will properly reflect their actual status in reports generated by The Loan Tracker This will in turn help keep your Borrower Files better organized and will improve the speed of reports run in TLT GFE Short Cut Condensed List 1 Create a New Borrower File lt CTRL gt lt L gt Load using the correct directory i e LEADS OR 1 Access a GFE Template File 1GFE Template or 1GFE 1 lt CTRL gt lt L gt Load 2 Fill out the Good Faith Estimate or Second Page REG Z lt CTRL gt lt A gt Ahead 3 Fill out part of First Page REG Z lt CTRL gt lt P gt Print 4 Print your Documents lt ALT gt lt Z gt and lt ALT gt lt P gt Print when you re ready The Loan Handler 5 2 Training Manual Supplement User 42 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises The Loan Handler 5 2 Training Manual Supplement User GOOD FAITH ESTIMATE Broker Stoi 4 Not a Loan Commitment This Good Faith Estimate is being provided by DEMO ONLY NOT FOR RESALE a mortgage broker and no lender has yet been obtained A lender will provide you with an additional Good Faith Estimate within three business days of the receipt of your loan application Applicant s ANDY EXAMPLE ANN EXAMPLE Property Address 123 ANY S TREET C
5. User User Date 4 29 2002 Date J Date Date m Status C P Prior To Doc F Funding C S Suspense C W Waived r Responsibility C L Loan Officer C P Processor C T Title C Investor A Appraiser Comments lt CLICK gt on the New Button to show the existing Conditions Stips and Categories i e Processing Appraisals Loan Officer Countrywide Chase Crestar WMC A90 B90 C90 etc or you can add new ones lt CLICK gt on the far left hand column for an existing Condition and a Check Mark will appear indicating that it has been chosen as part of the Conditions Stips for that Borrower File Repeat these steps for each and every Condition Stip that this Borrower File needs and when finished selecting all the appropriate Conditions Stips lt CLICK gt on OK The program will allow up to 99 separate Categories and 99 Conditions Stips for each Category To view or work on a Condition Stip select a Condition Stip by highlighting it and lt CLICK gt on the View Condition Button This provides access to the Event Status screen for that Condition Stip see the above screen shot Now simply enter the appropriate data for this Condition Stip When you re done with that Condition Stip lt CLICK gt on OK at the bottom right corner of the screen Repeat the process for each individual Condition Stip that you need to track for this Loan and Borrower File The Loan Handler 5 2
6. 36 2 36 2 6 0 500 Y N Three Month COFI ARM With a Negative Amortization cut off at 110 a monthly rate adjustment that always reflects the fully indexed rate in this scenario here it is 99 a payment change every three months and a maximum payment adjustment of 7 5 Use lines 1 2 3 4 5 8 9 12 13 14 15 16 6 25 Nearest 2 5 3 7 5 1 99 110 6 0 500 Y N Three Month COFI ARM With an Initial Fixed Rate and Payment for Six Months a Negative Amortization cut off at 110 a monthly rate adjustment that always reflects the fully indexed rate in this scenario here it is 99 a payment change every three months and a maximum payment adjustment of 7 5 Use lines 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 6 25 Nearest 2 5 3 7 5 6 7 5 1 99 6 99 110 6 0 500 Y N The Loan Handler 5 2 Training Manual Supplement User 59 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Tracking Information Required Items Checklist Stip List This Form is a great tool for keeping track of all the miscellaneous items needed in order to submit a loan to underwriting think of it as your Borrower Checklist or Stip List i e for many of us the Front Cover of your Loan File The top section helps track the key dates associated with the loan and is important for those clients currently using or planning to get The Loan Tracker These dates and Field F1393 from the Prelim Screen the HMDA section determine the status of a loan when
7. 6 0 say 12 65 6 25 6 0 Maximum Payment for Section 32 Loans 500 1 2 of the P amp Payment 1000 Calculate Worst Case Payment Stream Y N Y Does ARM have a Conversion Option N 2 28 ARM Use lines 1 2 3 8 9 10 11 13 14 15 16 6 25 Nearest 2 5 12 2 24 2 6 0 500 Y N 3 27 ARM Use lines 1 2 3 8 9 10 11 13 14 15 16 6 25 Nearest 2 5 12 2 36 2 6 0 500 Y N One Year ARM Use lines 1 2 3 8 9 13 14 15 16 6 25 Nearest 2 5 12 2 6 0 500 Y N Three Year ARM Use lines 1 2 3 8 9 13 14 15 16 6 25 Nearest 2 5 36 2 6 0 500 Y N Five Year ARM Use lines 1 2 3 8 9 13 14 15 16 6 25 Nearest 2 5 60 2 6 0 500 Y N Seven Year ARM Use lines 1 2 3 8 9 13 14 15 16 6 25 Nearest 2 5 84 2 6 0 500 Y N Ten Year ARM Use lines 1 2 3 8 9 13 14 15 16 6 25 Nearest 2 5 120 2 6 0 500 Y N Three One ARM Use lines 1 2 3 8 9 10 11 13 14 15 16 6 25 Nearest 2 5 12 2 36 2 6 0 500 Y N Five One ARM Use lines 1 2 3 8 9 10 11 13 14 15 16 6 25 Nearest 2 5 12 2 60 2 6 0 500 Y N Seven One ARM Use lines 1 2 3 8 9 10 11 13 14 15 16 6 25 Nearest 2 5 12 2 84 2 6 0 500 Y N Ten One ARM Use lines 1 2 3 8 9 10 11 13 14 15 16 6 25 Nearest 2 5 12 2 120 2 6 0 500 Y N Three Three ARM Use lines 1 2 3 8 9 10 11 13 14 15 16 6 25 Nearest 2 5
8. Keyboard At the Master Menu select lt ALT gt lt F gt File and then lt O gt Open or just press lt ENTER gt with Open highlighted or press lt CTRL gt lt L gt Load Borrower and lt ALT gt lt C gt Create OR 1 Access an existing generic GFE Template File in your Leads directory see the sheet entitled Borrower File Directory We like the idea of a file with the name of 1GFE 1 computer file name since that will appear at or near the top of the File Name Column Remember blanks appear before numbers and numbers appear before letters in directories Better yet once you have created the GFE Template File 1GFE 1 enter that file and instead of entering a Borrower s Last Name in Field Number 37 F37 type in the words 1GFE Template and then press lt CTRL gt lt S gt Save to save your template name This places the GFE Template File at or near the top of your Borrower Name Column in the Borrower Directory so it s easy to find and work with use it over and over again since you won t be saving the file See the sheet entitled Creating and or Editing Default Files for details on how to pre set standard entries like GFE Fees and Charges Percentages Employee Names Branch Location Vendors and anything else that makes sense to pre answer Mouse lt CLICK gt on the Open Tool Button a File Folder and lt CLICK gt on the existing File 1GFE Template in the Borrower Name column of the Borrower Directory or 1GFE 1 in the File Name C
9. L g Fee Tracking BE RESPA Servicing Disclosure LIK URLA Page 1 CIK URLA Page 2 1G URLA Page 3 LIK URLA Continuation Sheet Og RegZ Page 1 Truth in Lending Og Reg2 Page 2 temization of Amount Fin The Print Menu a TSUM FNMA 1008 Uniform Underwriting Lig HUD1ES Initial Escrow Account Disclos Document E BE Rent Verification s Og Employment Verification s zl 46 item s A Print Box This is an example of The Print Menu The list shows you all the current forms available for printing in the program Handler Forms Recap Sheets Loan Submission Custom Letters etc Government Agency Forms the Application Verifications Transmittal Summary etc and Company Specific Forms If you envision The Loan Handler as a computerized typewriter then it s easy to see how our program helps you fill out forms and once filled out enables you print them Simply select the desired forms from the list lt CLICK gt on Print have them signed and submit them to underwriting The Loan Handler 5 2 Training Manual Supplement User 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Tun The Loan Handler ePASS Business Center l e x File Edit View Field Tracking Utilities Help ns eae avi Se New Open Save Print Previous Forms Next Credit Comments Doc List Zoom Borrower A An Example 1 of 1 EXREOWN 1 ind l g TE Hesco Aga A
10. Miscellaneous Use the Zip Code Database SKIP OVER the city county and state wherever they appear throughout the system Only type the zip code since the program will fill in the rest of the data for you be sure that the data provided is accurate as 9 out of 10 times it will be This database comes from the USPS so it won t always provide the correct city or county if not simply type over the incorrect data with the desired data Works with Zip 4 Zip Codes too Handler allows multiple Borrower Directories so that you can better organize your borrower files i e by branch by year by quarter or even a combination of these For more details see the sheets entitled How to Transfer Files Also if using multiple Borrower Directories to transfer borrower files between locations be sure to check the current Directory settings BEFORE you make the transfer to ensure that they go to the proper directory AND that you don t overwrite any existing files with the same file name Please learn to use the shortcut method for data entry see the sheets entitled Order of Data Entry it s the quickest and most efficient way to process a loan in The Loan Handler Do not use spaces i e SMI TH JON ES BE LL etc or funny characters SMITH amp JONES BELL etc when creating computer file names for your borrowers Place s in any field throughout a borrower s file any time you are missing information that you know you ll need for a compl
11. Original Loan Amount Inc Upfront Mip Loan Amount Including Pmi Mip Or Funding Fee Refinance Loan Amount Existing Liens Auto Calculate Loan Amount yn Maximum Loan Amount For Region 9 field s found 8 Click Find Now to get a list of all available fields w Borrower Field xi Please enter or edit the field listed in the text box Click on the Browse button to get a complete list of borrower fields available When done to save the changes click the OK button Otherwise click the Cancel button fe Browse OK Cancel 9 Click once on the field that you wish to select e g F2 and press Select 10 The Borrower Field Screen now shows that F2 has been selected Press OK 11 F2 is now listed on the Word Link lt new file gt screen The Loan Handler 5 2 Training Manual Supplement User 91 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises E Word Link lt new_file gt File To generate the DAT file click on the Generate DAT button To exit Wordlink select the Exit menu choice Use the Remove button to remove the currently highlighted Field Use the Edit button to change the currently highlighted Field Use the Add button to add a new Field to the end of the list Edit a Field Hemove a Field Hemove a Field ve a Field _ Generate DAT DAT 12 Repeat steps 6 10 above to complete your field list 13 To change a field number highlight the field and press Edit
12. which ie to be provided to you by your mortgage broker of lender if your application is to purchase residential real property and the lender will take first lien on the property The undersigned acknowledge s receipt of a copy of tha Special Information Bookdet Settlement Costs Property Addrass x conv J rna Cva L_ omer 123 ANY STREET COLUMBIA sc 29201 or ANDY EXAMPLE Oe Proparstion Date OL 27 00 iow ANN EXAMPLE Date ssa Page 1 of 2 Compensation to Broker net paid out of Loan Proceeds P 0 C Fees GFEBAKR 06 97 Printed by The Loan Handler from Contour Software Inc 408 370 1700 The Loan Handler 5 2 Training Manual Supplement User 45 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Laden Stele ao GOOD FAITH ESTIMATE Not a Loan Commitment Loan Number 1234567390 This Goed Faith Estimate is being provided by DEMO ONLY NOT FOR RESALE The Information provided below reflects estimates of the charges which you are likely to incur at the settlement of your loan The foes listed are estimates actual charges may be mora or less Your CHARGES PAID CHARGES PAID transaction may not involve a fee for every item fisted The numbers listed beside the estimates BY BORROWER BY SELLER generally correspond to the numbered lines contained in the HUD 1 or HUD 1A settlement statement AT CLOSING AT CLOSING which you will ba receiving at settlement The HUD 1 or HUD 1A settlement statement will show you th
13. Aggregate Analysis Form Optional lt CTRL gt lt W gt Where 15 Fill out the 2nd Page URLA lt CTRL gt lt A gt Ahead 16 Fill out the 3rd Page URLA lt CTRL gt lt A gt Ahead 17 Fill out the Addendum URLA lt CTRL gt lt A gt Ahead 18 Fill out the Government Appraisal lt CTRL gt lt W gt Where 19 Fill out the Insurance Endorsement Optional lt CTRL gt lt W gt Where 20 Fill out the Conditional Commitment Optional lt CTRL gt lt A gt Ahead 21 Fill out Comments Loan Submission Transmittal Summary Conditions List Tracking Information Form Custom Fields Agency Forms Lender Investor Forms MI Forms Appraisal Forms Environmental Report Forms Title Forms Flood Forms etc lt CTRL gt lt P gt Print 22 Print your documents The Loan Handler 5 2 Training Manual Supplement User 34 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises _ 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 The ORDER OF DATA ENTRY FHA Refinance Loans Condensed List Create a New Borrower File lt CTRL gt lt L gt Load Fill out the Prelim Information Form lt CTRL gt lt A gt Ahead Fill out the Vendor Information Form lt CTRL gt lt A gt Ahead Fill out the 1st Page URLA does Residence Schedule amp Employment Schedule lt CTRL gt lt W gt Where Fill out the Good Faith Estimate or the Second Page REG Z lt CTRL gt lt W
14. Impound or Escrow for that item These estimated figures then also appear on the 2 Page URLA GFE Second Page REG Z etc Verification of Liabilities VOL s Better than using these forms yourself we recommend using an ePASS interface with your Credit Report Provider but when working with VOL s follow these guidelines A VOL must have at least a Liability Name a Balance and a Payment If there is no Balance or Payment on the account DO put a 0 Zero in these fields Verification of Mortgage Real Estate VOM s A VOM must have at least a Mortgage Holder Name but it won t necessarily have a Balance and a Payment i e some properties are owned outright or were inherited and if so use the words FREE AND CLEAR If there is no Balance or Payment DO NOT put a 0 Zero in these fields If the Property is owned outright enter the words FREE AND CLEAR as the Mortgage Holder Name in fact that should be an entry in your Mortgage Holder database so it can be used over and over again Better yet when you create that entry place a space in front of the words FREE AND CLEAR so that it appears at the top of your list making it easier to find each time it is needed If a borrower has already Sold and Closed on their existing property do not include it as a VOM The proceeds from the sale of the home will already be listed as an asset and would then be duplicated if the property is included as a current VOM Zooming into Databases
15. It is very easy to add remove and switch between co mortgagor files using The Loan Handler Add a co mortgagor to the primary borrower file To add a co mortgagor to the primary borrower file 1 Open or Create and Save the primary borrower file 2 Select File Add Co mortgagor e Select Add a New Co mortgagor to create a new co mortgagor file then press Add A new borrower file opens Enter the borrower s first and last names on the Preliminary Information Screen of the co mortgagor file The co mortgagors name now appears below the primary borrower s name in the Borrowers Window Add Co Mortgagor x There are two different ways to add a Co Mortgagor file The first option is to create a new Co Mortgagor The second option is to link an existing borrower which must be in the same directory as the primary file C Link an existing Borrower a omes e Select Link an Existing Borrower if you wish to add an existing primary borrower file as the co mortgagor to the active borrower file Enter the filename for the file to link or click Browse to locate the file Click Add to add the file as a co mortgagor to the primary borrower file IMPORTANT If you are linking an existing borrower file as a co mortgagor to the primary borrower file the linked file must be located under the same file path as the primary borrower e g C Contour Loans User1 If the file is not located under this path use Transfer Borrower Files
16. OLF AT TIMBERLAKE KIND OF A PFZ TO TALK TOO Lender Investor Guideline Con NO CONDOS ALLOWED MAXIMUM LTV ALLOWED IS 90 PREFER TO USE FAST AU_ METHOD NO PREPAYMENT PENALTY Borrower Conversation Loq 01 20 00 12 33PM JEFF SPOKE WITH BORROWER EXPLAL 01 21 00 10 34PM SUE DISCUSSED PROPERTIES OWNS 01 22 00 9 05PM JEFF D SAGE EAE l 01 23 00 12 56PM SUE PLAYED PHONE TAG AT WORK Borrower Conversatio 09g Cq Borrower Conversation Log Cq Borrower Update Comments Aut F 01 20 VOD3 Deposit Amount Qld 4500 New 450 F 01 21 YOM2 Mortgage Balar Old 12500 New 22375 F 01 22 HUP1 Appraisal is I Old 130000 New 12500 6 01 20 O 01 22 O 01 20 01 20 O 02 20 O 01 20 O 01 21 O 01 21 O 01 21 O 01 21 F 01 20 IN FILE ONLY Q 01 22 SEARS ACCT F 01 21 0 61 20 O 01 20 CAN T tn DS e TO fd d dd Idd Jad nd ETTING COPIE ND fond jz fad fod o fm wv N o O f er N co 1 27_0 01 20 uj bo ore F 01 20 O 01 20 F 01 25 0 01 20 R 01 23 001 20 S ACCOUNT FOR DOWN PAYMENT CC TAKE HIM OUT SOMETIME CO nts E J taj rz ojojo fm a an mlin aleje R VIA WEBIT D STIPS AND ALT DOCS NEEDED UP FRONT RENTAL PROPERTY NEED RENTAL AGREBMENT LEASE n t omatically Posted is LE than stated T B Ratios 15 78 24 76 T B Ratios 16 23 26 43 ESS then Sales Price Q T B Ratios 16 23 she Program 26 43 1 A Printed by The Loan Handler
17. Only page 2 A portion of the FHA LOAN AMOUNT WORKSHEET REQUIRED FOR REFINANCE Details of the New Loan Calculation Unpaid Balance of Current Mortgage will transfer to item d on Details of Transaction 3 Page URLA Preliminary Streamline w o Appraisal Equal to Unpaid Balance minus MIP Refund Mortgage Basis or Streamline w Financing Equal to Unpaid Balance plus Closing Costs minus MIP Refund Preliminary Loan Amount by Cost Method Equal to Appraised Value plus Closing Costs then 97 of first 25 000 plus 95 of the next 100 000 plus 90 of 125 000 e Preliminary Loan Amount by Value Method Equal to 97 75 of Appraised Value or 98 75 of Appraised Value if 50 000 or less Qoo0p The Loan Handler 5 2 Training Manual Supplement User 50 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises How To Combine Borrower Files Co Mortgagor Sets Adding Co mortgagors The Loan Handler allows you to add up to four 4 co mortgagors to every borrower file You can either link an existing borrower file as a co mortgagor to the primary borrower file or you can create a new file for the co mortgagor Fields that are shared among all co mortgagors will be copied from the primary borrower file to the co mortgagors every time the primary borrower file is saved Whenever any file of a combined loan number is open for modification all the files in the collection must be locked because they are all subject to modification as well
18. Recording Fee to County Clerk 42 00 1202 City ounty Tax Stamps 1203 State Tax Stamps 1204 1301 Survey To 1302 Termite Pest Inspection 80 00 1303 Property Inspection To 1304 Photo Fee To 1305 1306 1307 1308 Lump Sum Seller Paid Lander Paid Broker Paid Loan Proceeds To HE ESCROW CO 99619 99 MOUNT PAID TO OTHERS ON YOUR BEHALF He 2 ge EE 1601 Hazard Insurance Impounds months X 1004 Property Tax Impounds 4 months X 1006 Food Insurance Impounds months X par month 1007 months X per month months X Initials Initials Initials Initials REGZ94 2 2 99 Printed by The Loan Handler from Contour Software Inc 408 370 1709 www contoutaoft com PAGE 1 OF 2 The Loan Handler 5 2 Training Manual Supplement User 47 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises FHA Tips and Tricks for using the new MCAW now calle Purchase Money MCAW d HUD 92900 PUR as per Mortgagee Letter 98 31 MORTGAGE CREDIT ANALYSIS WORKSHEET High Closing Cost State 7 HE PHS rR 1998 MORTGAGE CALCULATIONS Case Number Section of the Housing Act Construction Existing Proposed Local Mortgage Limit 1a Borrower Name rr 1b Co Borrower Name 2b S pesn SNo Qualifying Rate 3a Mortgage w o up front MIP g 3b Total UF MIP 3c Mortgage with UFMIP 5 Closing Costs a Total b Seller
19. Rev 10 92 Pae ora Printed by The Loan Handier from Contour Software Inc 1408 370 1700 INITIALS Fannie Mae Form 1G0a Rev 10 02 yar Page VERA The Loan Handler 5 2 Training Manual Supplement User 37 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Salf Employed Bormaver s may be required to provide additions documentation such as tax returns and financial statements Describe Other Income Notice Alimony child support of seperste maintenance Borrower B or Co Borrower C dosen t choose to have it considered for repaying this loan iacome need not be revesied H the Monthly Amount This Statemeng and any applicable supporting schedules may bo completed jointly by both maried and unmarried Co Borowere if thelr assets and abilitios aro sufficiently joined so that the Statement can be meaningfully and fairly presented on a combined basis otherwiee eenarate Statements and Schedules are required If the Co Borrower section was completed about a spoute this Statement and supporting schedules must be completed about that spouse also Completed Coin C not sointi ASSETS Cash or Market Liahiiitiaa and Pieti Asertu list the creditora name a address and account number for all outstanding debts rr Value betina automobile loans revolving charge accounts real extate aans alimony chid support stock plodgas Description a ia continuation sheet bileier k ingrate by F Some abies which wll be aiae
20. Supplement User 24 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Auto Update Vendor Database xj Instructions While completing this form you modified a vendor If you would like you can add this vendor to the database or update one of the matching vendors Modified Yendor ae Address Matching Yendor s Name tress O gt Update Close 2 Press Add to add the new or modified vendor to the vendor database 3 Select a matching vendor and press Update to update the matching vendor with the modified vendor information 4 lf you do not want this screen to appear again for this loan click on view user options and under the Data Entry tab uncheck the box Add Vendor To add a new vendor to the vendor database from the vendor database screen 1 Go to any vendor field on the Vendor Information Screen or any verif and Zoom in to the Vendor Database by pressing lt Cirl Z gt or other method 2 Select the Vendor Type from the drop down list 3 Press Add The Add Vendor screen will display Ss Mailing Information Name NUl Attention Address EEEE City sz State zaj Contact Information Phone Faj Email LSS ees Type License aes Inv Code Fees a List of Providers Information Relation i E Service PE Item wh o tt Ss Miscellaneous Comments Add Cancel 4 Enter the appropriate information Press Add The vendor is
21. a Field Enter the new field number or Browse to locate the new field number and press OK to change the field number 14 To remove a field from the list highlight the field and press Remove a Field 15 When your field list is complete press Generate DAT 16 The following screen will appear Word Link x Save in i Common e FE es Condcats dat History i Desktop My Documents My Computer TAGI B ee fs My Network PI Save as type WordLink DAT File DAT Cancel i e Use the buttons at the top of the screen to locate create a destination folder Enter the filename for the field set e g Field Set 1 tlh under Filename Press Save to save the field set 16 When you save the actual data file the following screen will appear Word Link xj DAT File Generated Successfully e Use the buttons at the top of the screen to locate create a destination folder Enter the filename for the DAT file e g Word Link Data File 1 dat under Filename Press Save to save the field set The Loan Handler 5 2 Training Manual Supplement User 92 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises 17 When the data file has been successfully generated the following screen will appear Press OK to exit Word Link E Word Link lt new_file gt SIE x File ts Doc List Zoom To generate the DAT file click on the Generate DAT button To exit Wordlink select
22. a n List any additional names under which credit has previously been received and ind indicate appropriate creditor name s and a and account count number s Ahemate Name Creditor Hame Account Number iW ewer Yes to any questions a through i please Borowe use continuation sheet for explanation me Are there any cutetanding Kidgiients against you Have you been deciated bankrupt withia the past 7 ysars c Have you led property forciesed upon or given titie or deed in feu thereof in the last 7 yours d Ars you z party to z iawu E cain oo Are you presenity delinquent or in defeutt on any Feder debt or any other k_Borrower s dosing casts pahi by Seller laan mortgage financial bigatin bom or losa guarentee i Yee give detalis as described in the preceding question Are you ebligated to pay alimony child support or saparsta maintenance Ja any part of the down payment borrowed Are YOu a co triaket of eftoteet on a note Are youn U S citizen Aye you a permanent resident alent Do you intend to occupy the property as your primary m loen amount residence If Yes complete question m below exctude PM WEP Funding Fee financed Have you hed an ownership interest in s property in the last n PHE MEP Funding Fee financed beige apie PA i typa of property did you own principal reaidence a Loan amoun iski m amp n IPR second kore SH or iwvestment property IPF 2 How did you hold thie to the hom
23. fact we prefer to Thank YOU in advance for your referrals Over the years our greatest source of new business has definitely come from referrals from existing clients like you and for that we are grateful If you have someone that would like information on the 30 products and services offered by Ellie Mae Software Inc feel free to have them contact us via any of the following means Corporate Home Office Phone 800 CONTOUR 266 8687 Fax 800 777 8720 Web Site www contoursoft com E mail sales contoursoft com Local Regional Office Address Phone Fax Web Site E mail Once again Thank You for referring your friends and associates to us The Loan Handler 5 2 Training Manual Supplement User 110 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises
24. fill out the First Page REG Z Mouse lt CLICK gt on the Forms Tool Button and then lt DOUBLE CLICK gt on Reg Z Page 1 Keyboard Press lt CTRL gt lt A gt Ahead or lt CTRL gt lt W gt Where and press lt R gt Reg Z Page 1 and lt ENTER gt to access the form At the top of this form you can confirm the Prospect s Name s and Address near the bottom you can confirm the Purpose of the Loan the Amortization Type and the appropriate lines as needed for an ARM Balloon Construction etc see the sheets dealing with Regulation Z PMI if needed and at the very bottom confirm the Loan Amount Interest Rate and Term note that P amp I is automatically calculated for you If you want the Property Value listed on the GFE then enter it as well note that this field needs to be Frozen the program uses this field for other calculations We suggest you set the field as Frozen in your GFE Template file its a different color when Frozen since this file is used just for GFE s with this method of our Short Cut Remember that we aren t saving the file The Loan Handler 5 2 Training Manual Supplement User 41 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises GFE Order of Data Entry page 2 4 Print your Documents Mouse lt CLICK gt on the Print Tool Button printer Keyboard Press lt CTRL gt lt P gt Print to access this section of the program Select the desired GFE by Zooming In to the GFE list since we pr
25. for vendors so that redundant information does not need to be entered over and over again The vendor database can be accessed from any field on the Vendor Information Screen Forms Vendor Information Screen or from any vendor field within the borrower file e g Schedule of Real Estate Schedule of Deposit etc Your Vendor Data Base can be exported to other applications for viewing printing etc See below for instructions on selecting searching for adding updating and exporting vendors and for changing the location of your vendor database 1 Always remember to First search a database for the entry you want and if it exists simply select it Press lt CTRL gt lt Z gt Zoom or the Zoom In Tool Button to access the various databases If the entry is one you do not want to create within your database e g an out of state Bank or an uncle as Landlord that you ll probably never need again then simply type that information directly into the borrower file and DO NOT access your database That way the information will only exist in this one borrower file and will not appear within your database 2 Remember to only type THE FIRST FEW LETTERS of the entry that you are searching for The system will automatically try to find an exact match for you This applies to all databases Borrowers Escrow Companies Attorneys Employers Loan Officers Processors Branches Landlords Sources of Leads etc Vendor Database Overview 1 To open the ven
26. from the appropriate source R Re Ordered the item had to be ordered two or more times from the source F Filed the item was received reviewed and filed away Current Paystubs R 06 19 O 06 12 Gift Letter Source of Funds N Last Three 3 Months Bank Statements R 06 19 O 06 12 Rental Agreement for Rental Property N Purchase Agreement Sales Contract R 06 19 O 06 12 Amendment to Contract R 06 19 O 06 12 Termite Report Clearance N Bankruptcy Certification Papers R 06 19 O 06 12 Only lists Pending Items Bankruptcy Certification Schedules R 06 19 O 06 12 Homeowners Insurance Policy N VOE 1 E CAROLINA UNIVERSITY O 06 12 VOE 3 CENTRAL HOSPITAL R 06 19 O 06 12 VOD 1 FIRST NATIONAL BANK O 06 12 VOD 2 FEDERAL SAVINGS amp LOAN R 06 19 O 06 12 VOD 3 EAST BAY BANK amp TRUST N VOM 1 HOMEOWNERS MORTGAGE R 06 19 O 06 12 VOM 4 MONUMENT MORTGAGE N The Loan Handler 5 2 Training Manual Supplement User 71 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises lstatus3 ltr BORROWER STATUS LIST Only Items That Are Needed Borrower s Name JIM EXAMPLE Co Borrower Name JANE EXAMPLE Property Address 123 ANY STREET CHARLOTTE NC 28201 Loan Originator BOB JONES Printing Date 06 26 99 The following is a partial listing of all items needed for this borrower as of the above date This is the date that this status sheet s was printed so keep in mind that the status of some items may have changed since this sheet s
27. list the name of a particular borrower s file this feature enables you to designate whether or not any of that borrower s information appears on the forms that you print ME Print Wen File Tools Help CLOSED Sje 2 2 Print Order Select Unselect E TLH Attached Documents ICE EXPIRATION f FHA Documents mE Rent Verification s FUNDED Sgm Verifications L BW Employment Verifications Deposits V G Deposit Veritication s A Employment Loan Verification s OTHER 6 Liabilities FIS 1st Martaane Verification s feds Oones TT x W Residence A Securities p Printer o AD t a a flies Name Apple LaserWriter Pro 600 Id Properties E Custom Letters Type PSCRIPT Where SC806444_P1 Print all pages on legal Duplex Copies Number of copies 1 r C Collate by Page jy ances in C Collate by Document Sore Collate by Set Ti 61 item s 1 item s Envelopes g Print What Form And Data bd Credit Explanation Inquiry Explanation The Loan Handler 5 2 Training Manual Supplement User 67 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Custom Letters Master List The Loan Handler comes to you with a number of Custom Letters ready to use Listed below are the eight 8 letter computer file names and brief descriptions for some of the most commonly used letters that you ll find in your copy of TLH but there are many others that are not l
28. need to enter information here Y ES ee tee pitt INFORMATION FOR ADDITIONAL CO MORTGAGOR SETS es N 0 0 Primary Present Housing All Other Co Mortgagor Total Income Liquid Assets NES pees REE LUL HT tl LUL LUL TOTALS The Loan Handler 5 2 Training Manual Supplement User 52 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Using The HUD 1ES Form The Aggregate Analysis Worksheet The Aggregate Method is another Regulation X requirement and is an accounting method used in making Escrow Account computations that consider balances as a whole Previously Escrow Accounts were figured separately as single items Lenders Servicers that establish Escrow Accounts at the time of settlement regardless of whether the account is required by the Lender or voluntarily established by the borrower the servicer or servicer s representative must provide the borrower with an initial Escrow Account Statement which is a forward looking projection of anticipated activity in the account s first year The output form is an Aggregate Analysis in The Loan Handler or HUD1 ES in The Loan Closer This disclosure shall be given to the borrower either at settlement or WITHIN 45 calendar days of settlement Before concerning yourself with the limitations allowances contained in this final rule regarding Escrow Account management a Lender Servicer must first examine the mortgage loan documents to determine the co
29. normally used at the time of application since it is needed mainly as a closing requirement The program does make it available however since information created on it can be shown on the GFE 12 Fill out the Good Faith Estimate or Second Page REG Z they re almost identical Mouse lt CLICK gt on the Forms Tool Button and then lt DOUBLE CLICK gt on Good Faith Estimate Keyboard Press lt CTRL gt lt W gt Where and press lt G gt Good Faith Estimate and lt ENTER to access this form Filling out the Good Faith Estimate helps fill out the First Page REG Z the Truth in Lending Form since the numbers entered on the GFE create the Amount Financed field which in turn is then used on the First Page REG Z which generates an APR Furthermore since the fields available on the GFE are in essence the same as that on the Second Page REG Z Itemization Page detailing the fees and charges that affect the APR calculation and can simply be printed if needed This step also helps fill out a portion of the Details of Transaction section on the 3rd Page URLA 13 Fill out the First Page REG Z the Truth in Lending Form Mouse lt CLICK gt on the Forms Tool Button and then lt DOUBLE CLICK gt on REG Z Page 1 Keyboard Press lt CTRL gt lt W gt Where and press lt R gt REG Z Page 1 and lt ENTER3 gt to access this form Be sure to enter the First Payment Due Date in the correct format MM DD YY the A P R won t be calculated proper
30. oF bibig of the Lender without notice to me and or the admiliisizaiion of the bosm accent may be transferred to sa ags ccessor or assign of the Landes with prior notice to me 9 the Lender kz agents successors and adckgie inake no representations or warranties exp or implied to the Borrower s regardifig the property the condition of the property or the value of the property Right to Receive Copy of Appraisal vwe have the right to a copy of the appraisal rajiieeaiied in connection with this nppllcation for credit To obtain a copy VWa must send kandar a written requeat at the mading address Lender hes provided Lender must haar from maus nptett diry Lender notifies maus about the action taken of this appiicetion or we withdrew this application Certification We certify that the information provicied in thig amplieatio oppielia my our signature s on this application and acknowledge my our Undatataading that any intentional oF negligent D nd o ininal penetion cluding but not Nite ta fina or inprisomment or both under the provisions of Tithe 18 Stutas Code Section 1001 st saq and lahiity for monetary damages to the Lond other parson whe mey suffer say loss due jpedfino any rolerepresentation which Liwa hava mede on thia application Borrower s Signature Date Co Borrower s Signature Date fs agents successors of amigas insurers and eny The following information is requested by the AEAN and home mortga
31. of the Screen lt CLICK gt Credit Report to the left lt CLICK gt on the Credit Company used lt CLICK gt Request Credit Or lt CLICK gt on the Credit Company in the Shortcut box and lt CLICK gt Request Credit 2 Once the credit report has been run lt CLICK gt on the Credit Icon located on the tool bar and lt CLICK gt import liabilities from the drop down 3 Mouse lt CLICK gt on the Forward or Back Arrow Tool Button Keyboard lt ALT gt lt V gt Edit lt A gt Ahead or lt B gt Back lt CTRL A gt Ahead lt CTRL B gt Back 4 Mouse lt CLICK gt on the Forms Tool Button Keyboard lt ALT gt lt V gt Edit lt W gt Where or lt CTRL gt lt W gt Where 5 Mouse lt CLICK gt on the Open Tool Button Keyboard lt ALT gt lt F gt File lt O gt Open or lt CTRL gt lt L gt Load 6 Mouse lt CLICK gt on the Save Tool Button Keyboard lt ALT gt lt F gt File lt S gt Save or lt CTRL gt lt S gt Save 7 Mouse lt CLICK gt on the Help Tool Button or lt CTRL gt lt H gt Keyboard lt ALT gt lt H gt Help and make your selection 8 Mouse lt CLICK gt on the Print Tool Button Keyboard lt ALT gt lt F gt File lt P gt Print or lt CTRL gt lt P gt Print 9 lt SPACEBAR gt 10 Mouse lt CLICK gt on the Print Tool Button with URLA highlighted lt CLICK gt on and lt CLICK gt on 2nd Page URLA and then lt CLICK gt on Print to print just the one item Keyboard lt ALT
32. or refinanced for the full amount in which you applied In the example above you would therefore receive a loan for 50 000 and not for 48 000 PO WHAT IS THE TOTAL OF PAYMENTS Box D above This figure represents the total amount you will have paid if you make the minimum required payments for the entire term of the loan This includes principal interest and mortgage insurance premiums but does not include payments for real estate taxes or property insurance premiums PO Q MY DISCLOSURES SAY THAT IF PAY THE LOAN OFF EARLY WILL NOT BE ENTITLED TO A REFUND OF PART OF THE FINANCE CHARGE IS THIS TRUE A Yes You will be charged interest for the period of time in which you used the money loaned to you Your prepaid finance charges are generally not refundable nor is any interest which has already been paid The Loan Handler 5 2 Training Manual Supplement User 56 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Guide To Regulation Z Truth in Lending FBBB Item 25 The following REG Z guide will assist you in filling out the Truth In Lending form of TLH and TLC First Page REG Z Verify that LOAN AMOUNT INTEREST RATE and TERM are correctly filled out Fill in FIRST PAYMENT DATE type MONTH DAY YEAR in standard computer date format XX XX XX and be sure to use zeros in front of single digits 06 01 96 Use the Calendar Tool Bar Button for quick and accurate date posting Fill in the rest of
33. others in your operation can use it as well use to generate reports on any information contained in the other Ellie Mae programs Toolbar Another bar underneath the Menu Bar that contains buttons representing features you use often If you place your mouse pointer over each button a tiny label will appear indicating what feature or task that each button will do TRF ALLREGS The Reg Finder software program that allows you to access the various regulation manuals government guidelines accessible from your computer Fannie Freddie FHA VA HUD Special Projects MI Companies etc URL Uniform Resource Locator A identifier which describes the location of a particular piece of information document or data including the protocol used to find and or retrieve that information from other computers systems or networks e g http www migloan com is Ellie Mae s Internet Services Home Page on the World Wide Web that has samples of their work URLA Universal Residential Loan Application Fannie Mae s 1003 Form Freddie Mac s 65 Form A Residential Mortgage Application as it is referred to by most in the industry and within Ellie Mae programs Value Added Network VAN Industry specific software A re packager of data that enables various parties to exchange data even though the parties use different software programs with different software languages Examples are Fannie Mae DO DU Loan Prospector Credit Bureaus etc Windo
34. page Ahead Move to the Next Form ove to Previous Page Move to the Previous Form Copy Copies Selected Data E o z o T ztjojojz w lo z 3 a a o o 3 2 D A 2 E oO 2 o Qa is mw T Help Field Specific Help In File or Filed In File Puts a Filed date into a Field 10 CH A Cii B Chi C Cti E Ctr F F Cii H Cti I Chi L Ci M Cri N 5 6 7 _ RLo nm N oa AJOJN 4 oe Puts the Current Time into a Field 4 oO a gt gt Save Borrower Data S Save Borrower File Save Borrower File keeping File Open g lt ri pony Pass Copa 2z anx Cus seed ata outan put kon be cpa 24 Zoom to a Database Zoom Into a Database List of Choices Ci Cul PASS Business Center AU Utilities lt Enter gt Access our ePASS Partners Ci Cui pe oO e uv g rr aN The Loan Handler 5 2 Training Manual Supplement User 19 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Cursor Movement Keys Moving the Insertion Point around The Insertion Point is the blinking line that represents the Cursor s position within Windows programs Most of these keys are fairly self explanatory and are real time savers They help you move from one place to another within the program quickly and easily Many of these keystrokes will be familiar to you from other software programs like Word Perfect Microsoft Word Lotus 123 Micr
35. the First Page based upon the appropriate loan requirements If using PMI fill in PMI SECTION near the middle of the form Fill in Lines 1 3 Total number of years should be equal to the term of the loan i e 30 if it s a 30 year loan For flat rate level payment PMI enter 30 years and its factor For stepped payment PMI the typical answer is 10 years at one factor and 20 years at a lower factor DECLINING BALANCE N for CA and most other states except TX LTV CUT OFF as above leave blank for most states If used enter the LTV in which PMI is no longer required usually 80 and now mandatory at 78 PROPERTY VALUE must be entered at the top of the form MONTHS OF PMI PREMIUMS PREPAID normally 2 two months Verify that the field entitled LOAN TYPE is accurate and fill out the corresponding fields in the section below 1 FIXED RATE PROGRAMS NORMAL FIXED RATE PROGRAMS Fill in nothing else FIXED RATE BUYDOWN PROGRAMS if equal Under the Buy downs Section fill in lines 1 2 3 7 and 9 Other lines optional IS A 3RD PARTY PAYING BUYDOWNS N means the borrower pays 2 GPM PROGRAMS Under the Graduated Payment Section fill in lines 1 and 2 e g 12 Months at 7 5 percent 3 ARM PROGRAMS Two types NO NEGATIVE AMORTIZATION and NEGATIVE AMORTIZATION Under the ARM Section all ARM loans Fill in lines 1 2 and 3 Field 1 and 3 are simply added together to crea
36. to move the file and then link the file to the primary borrower 3 Repeat step 2 to Add up to four 4 co mortgagors 4 All co mortgagors are now listed in the Borrowers drop down To switch between co mortgagor files click on the drop down arrow to select a different file ma The Loan Handler FHA Loan Amount Worksheet File Edit View Field Tracking Utilities Help e A y Previous Forms Next ePASS Credit Comments Doc List Zoom IMX IMX IMX 29 8 4 New Open Save Print A e A GFE REGZ A an Example B of 3 ERED The Loan Handler 5 2 Training Manual Supplement User 51 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises 5 Remember that whenever any file of a co mortgagor loan is open for modification the shared fields for all files files in the co mortgagor set are subject to modification as well Therefore when you Save any one co mortgagor file any modifications made to shared fields will automatically be made and saved to each file e To save your modifications select File Save Loan e To save your modifications and close the entire loan select File Close Loan Removing Co mortgagors When you remove a co mortgagor file from a loan you are given the option to delete the file permanently from your system or to convert the co mortgagor into a primary borrower file To remove a co mortgagor file from a loan 1 Open any file from the co mortgagor set
37. viewing a report from TLT these date fields convert to words in reports i e Closed Denied Withdrawn etc The bottom section helps you track the numerous items needed for your loans For example a Credit Report W 2 s 1040 s Gift Letter Appraisal Title Report Survey etc There s room for over Eighty 80 items and plenty of room available for any Company or Lender Investor specific items that may be required The data from this Form will show up on Reports in The Loan Tracker the Recap Sheets that can be viewed or printed and in Custom Letters see the sheets entitled Sample Custom Letters 1missing ltr 1status1 ltr 1status2 ltr 1status3 ltr and others Loan Tracking Information Dates If you would like to add change items to the existing list i e the left hand side of the form please refer to the Administrator s Handbook The Loan Handler 5 2 Training Manual Supplement User 60 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Using The Conditions Database The Conditions Database or Stip List is a feature that lets users track important loan conditions stips and maintains a listing of their details It is similar to the current Tracking Information form but it does serve a slightly different purpose Users can define the categories and each condition is tracked by individual responsibility and not just by a Have Don t Have status Here s an example of how a Mortgage Company might
38. 097 Borrower s Certificate amp Authorization TAXPFS Tax Service Certification FOLLOWUP Request Form for Additional Info from borrower TILCOVER Cover Letter for Truth in Lending Disclosure GIFTLET Gift Letter TITLELET Title Insurance Notification HAZINFOR Hazard Insurance information VAOPTION VA Option Clause HUDDISCL Disclosure on Points amp Interest borrower may pay VARELEASE VA Release of Liability LDFEES Borrower Agreement for Paying Long Distance Calls WELCOME Borrower Welcome Letter LEADPOIS Lead Poisoning Notification LOOKOVER Cover Letter for Good Faith Estimate MBAAPLY1 What happens after you Apply for a Mortgage Sect MBAAPLY2 What happens after you Apply for a Mortgage Sect II The Loan Handler 5 2 Training Manual Supplement User 68 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises lmissing 1ltr BORROWER FILE MISSING INFORMATION LIST Borrower s Name JIM EXAMPLE Co Borrower Name JANE EXAMPLE Property Address 123 ANY STREET CHARLOTTE NC 28201 Loan Originator BOB JONES Printing Date 06 30 99 The following is a listing of all the fields that are needed for proper submission of this borrower s file but are missing data i e where your s were found as of the above date This is the date that this missing information sheet s was printed Keep in mind that some of this information may have since been entered into the borrower s computer file Both the fiel
39. 1 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises CREATING A BORROWER FILE The value entered in F1172 Type of Loan determines which input and output forms are used to create the loan package When you create a new loan package the first thing that you do is select a template The Loan Handler comes with templates for basic Conventional FHA and VA loans These templates already contain the standard answers for fields applicable to the loan type You can use these templates as the base from which to create your own custom templates Create a Borrower File 1 Open The Loan Handler 2 Click on the New button on the toolbar or select File New Borrower from the menu bar 3 Select the appropriate template The file will open to the Preliminary Information Screen 4 Click Save at any time to save the file Otherwise you will be prompted to save the file upon exit Save and Name a Borrower File 1 Click Save at any time or 2 Click on File Close Loan 3 The Save Borrower window will open Select the appropriate file path to the folder in which you want the file to be stored 4 Enter a filename consisting of up to eight characters with a one character extension e g SMITH J or MARTINEZ R 5 Click OK to save the file Additional Tips When you have borrowers with similar names then we suggest the following approach Consider the Auto Numbering feature see the TLH Manual or try the following if the file fo
40. 2 Select the Borrower s you would like to remove from the menu bar 3 Select File Remove Co mortgagor from the main menu 4 The Remove Co mortgagor screen appears with the file you selected e Press YES if you wish to delete this file permanently from your system e Press NO if you wish to convert the co mortgagor file to a primary borrower file Remove Co Mortgager x Are you sure that you want to remove this Co Mortgager Name JEXFHAFIX EXAMPLE Address 432 BAY STREET The Loan Handler xj 5687642 l P a eae es Q Would you like to turn this Co Mortgager file into a Primary file Status E ves wo JE Switching Between Co mortgagers within a Co Mortgagor Set To switch between co mortgagers within a co mortgager set 1 Open any borrower file from the co mortgager set 2 To switch to another co mortgager click once on the co mortgager name in the Borrowers Window The selected co mortgagor file will open m The Loan Handler FHA Loan Amount Worksheet File Edit View Field Tracking Utilities Help B 89 u 6 2 e New Open Save Print Previous Forms Next y ePASS Credit Comments Doc List Zoom Borrower A An Example 3 of 3 EXREOWN 1 Re Cony arm Example 1 of 3 EXCONSAM G A Exthafix Example 2 of 3 EXFHAFIX 1 Ts A An Example 3 of 3 os All results of the CO Mortgagors are reported to the Preliminary Screen of the Primary Borrower There is no
41. 2 Courtesy of Mortgage Tech amp Seshco Enterprises The Loan Handler 5 2 Training Manual Supplement User 98 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises TRAINING REVIEW Congratulations You are now a privileged and licensed user of Contour Software the Mortgage Software used by more mortgage companies than any other The following is a short Homework Assignment consider it an Open Book Quiz Its purpose and our Primary Training Goal is to help make each Contour User self reliant and self sufficient in the use of these products Use the tips tricks amp shortcuts provided by this Supplement and you are on your way towards this achievement This Training Review is the first step in that process Use the Training Manual Supplement to answer the questions below since the answers are provided within its pages Some questions can be answered without using the Supplement but please do refer to it for confirmation of your answers The idea is to make you as familiar with this Manual as possible since this Training Tool will provide the answers to most of your day to day questions about The Loan Handler Good Luck and have Fun When you have completed the Training Review sheets please turn them in to your supervisor Employee s Name Company Branch 1 How do you run a credit report 2 How do you import a credit report you have pulled 3 How can you move Ahead Back in the program one Form at a ti
42. 5 2 Training Manual Supplement User 33 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises ORDER OF DATA ENTRY FHA Purchase Loans Condensed List 1 Create a New Borrower File lt CTRL gt lt L gt Load 2 Fill out the Prelim Information Form lt CTRL gt lt A gt Ahead 3 Fill out the Vendor Information Form lt CTRL gt lt A gt Ahead 4 Fill out the 1st Page URLA does Residence Schedule amp Employment Schedule lt CTRL gt lt W gt Where 5 Fill out the Good Faith Estimate or the Second Page REG Z lt CTRL gt lt W gt Where 6 Fill out the First Page REG Z Truth in Lending lt CTRL gt lt W gt Where 7 Fill out the Mortgage Credit Analysis Worksheet Purchase Loan lt CTRL gt lt Ws gt Where For 203 k loans do the MCAW Worksheet for 203 k Loans and Maximum Worksheet before this form 8 Fill out the remaining data in the Employment Schedule lt CTRL gt lt W gt Where 9 Fill out the remaining data in the Residence Schedule lt CLICK gt on the ePASS Tool Button 10 Access ePASS lt CLICK gt on the Exit icon and then lt CTRL gt lt W gt Where To access your ePASS interfaces to Credit Bureaus MI Companies Appraisers Flood Title etc 11 Fill out the Deposit Schedule lt CTRL gt lt W gt Where 12 Fill out the R E Owned Schedule lt CTRL gt lt W gt Where 13 Fill out the Liabilities Schedule use your ePASS for this task lt CTRL gt lt W gt Where 14 Fill out the
43. 5 2 Training Manual Supplement User 61 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Using the Conditions Database page 2 Category Condition Processing Processing Processing Processing Processing Processing Processing Processing Underwriting Underwriting Underwriting Underwriting Appraisals Appraisals Appraisals Appraisals IOOWOO IKO IWOOOBT Add Condition Delete Condition Sort Conditions OK Cancel AllV 0 D s in file or copy of document sent All 0 E s in file or copy of document sent All V 0 M s in file or copy of document sent Appt set with Borrower s Loan number assigned Satisfactory credit report with explanations to derogatory credit Title and Escrow opened new added condition All verifications in file Satisfactory Appraisal Satisfactory Credit Report Title Report in file Appraisal ordered with appraisal co Basic property information ie lot size Property type est square Condition of Property Preliminary range estimate of values i To Use and or Create a Condition or Category Open an existing or create a new Borrower File Select Conditions List from the Utilities Menu xl Delete Category Rename Category x Condition Appraisal ordered with appraisal co rm Ordered Received Sent To Lender Signed Off VV Ordered I Received I SentToLender Signed Off User mindy User
44. 7 What are the 4 commands to put a Needed Ordered Re ordered or Filed Date in the Tracking Screen The Loan Handler 5 2 Training Manual Supplement User 100 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises 18 How can you send an email to a contact within the Loan Handler 19 What keystroke s let you move Forward Backward from Section Section or group group in order within a Form 20 What Handler Form on the Processing Forms Menu the Vertical Menu allows you to Track supporting documentation and key dates for the borrower and the loan s requirements 21 What fields do you SKIP OVER because one piece of data can provide these skipped fields when entering an Address 22 How many Characters will a computer allow you to use when creating Computer File Names which is the reason why the computer File Name and full Borrower Name do not exactly match The Loan Handler 5 2 Training Manual Supplement User 101 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises 23 24 25 26 27 28 29 30 31 32 33 What Handler Form can be viewed and or printed that gives you a fairly complete Recap of the entire borrower s file What one Character when typed into any field throughout the system will help you keep track of Missing info For short breaks 5 15 minutes during data entry what do you do to force the program to Save your data When searching Databases how can
45. A Commitment Fee 813 A Warehouse Foe Interest Differential P Yield Sprd Pram P Serv Rel Prem 0 500 525 0 A Origination Due Broker A FHA Upfront MIP VA Funding Fea A Flood Certification Fee ACourier Fee A one D A A wf Hw amp aeneununnnan amp A A A A A Prepaid Interest 15 days Mortgage Insurance Premium Hazard Insurance Premium Flood Insurance Premium Principal and Interest Real Estate Taxes Hazard Insurance Mortgage Insurance Homeowners Association Dues Second Principal and Interest Other TOTAL MONTHLY PAYMENT hw wh wh i i G 1001 Hazard Insurance Impounds 1002 A Mortgage Insurance Impounds 1004 Property Tax Impounds 1006 Flood Insurance Impounds 100 1008 1003 Aggregate Analysis Adjustment Settlement of Closing Fee Document Preperation Fea Notary Fee Attorney Fee Title Insurance Premium Endorsement Fee Title Binder Recording Fee City County tax stamps State tax stamps Survey Termite inspection Property Inspection Photo Fee Lump Sum Seller Paid 129000 00 Estimated Closing Costs 4704 50 Estimated Prepaid Items Reserves ___ 2175 51 Total Paid Items amp Subordinate Financing Seller Paid Closing Costs FHA UFMIP VA Funding Fee Base Loan Amount TOTAL ESTIMATED FUNDS NEEDED TO CLOSE 4500 00 105000 00 20380 01 These estimates are provided pursuant to the Real Estate Settlement Procedures Act of 1974 as amended RESPA Ad
46. EMDPlus Preliminary Screen Page 2 i EMDPlus Closing Vendor Information FEA_CMMDlin Anarnaste Canen Inform stews Edit Selection Refresh My ePASS HomeSide GE AU Central PMI Contract Underwriting First American Credco and Executive Reporting Services Ellie Mae Document Services First AmericanTitle First American Flood Data Services First American Appraisal Services First American Real Estate Solutions ValueWeb Please log on to enable your My ePASS customized links A Preliminary Information Screen nlx E Vendor Information E URLA Page 1 E URLA Page 2 E URLA Page 3 E Employment Schedule i Deposit Schedule i R E Owned Schedule E Securities Schedule E RegZ Page 1 Truth in Lending E GFE Itemization of Amount Financed E HUD1ES Initial Escrow Account Disclosure Statement E GFE List of Providers E Section 32 Test E TSUM FNMA 1008 Uniform Underwriting And Transmit Loan Submission Fi tatus Submitted 12 5 1990 al le W SAMPLES EXREOWN 1 Conventional 950 963 94 92 94 92 F58 This is an example of The Processing Forms Menu The Processing Forms Menu Also Top Left Menu a fe a The list shows you all the current forms available in the program Handler Forms Prelim Information Vendor Information Loan Submission etc Government Agency Forms the Application Verifications Transmittal
47. ETTER A Comments 6 Date optional DESCRIPTION AND COMMENTS Adverse Action Comments For use ONLY with Custom Letter 1deniala ltr Fields on this Form correspond with lines on the above mentioned Denial Letter use the Field directly below the statement that applies to your scenario use only one Field for each statement their are 79 characters available per Field Has been approved with the following changes DESCRIBE BELOW USE 1 FIELD Other Specify DESCRIBE BELOW USE 1 FIELD The rest of the information required for 1DENIALA LTR will merge from the rest of your borrower file you can print this Denial Letter from the Print Menu The information above is actually a Print Screen from The Loan Handler s Comment Form Page 6 It is designed to work in conjunction with a Custom Letter entitled 1deniala ltr Many loan applications are denied for different reasons based on each borrower s individual situation and this Custom Letter provides you with a means for explaining each denial scenario The above Print Screen should be used as a template for your system s Comment Forms Access EACH Default File in The Loan Handler see the sheet entitled Creating and or Editing Default Files and replicate the template as it shown above You should have at least three 3 Default Files CONV FHA and FVA but some of you will have more depending on how much customization has been done with your system Regardless of the number of Default Files y
48. Insurance Close Sample Builder bra 1 vendor s found Search for all vendors of a specific vendor type 1 Select the Vendor Type from the drop down box 2 Press Find Now 3 A list of all vendors in the specified category will display Use search criteria to narrow your search 1 To narrow your search parameters use the Company Name Contact Person Street Address City and State fields as search criteria For example to find all Builders Brokers in Sample City 2 Click on the Location tab and type Sample City in the city field 3 Press Find Now All vendors in Sample City are listed Select Vendor To auto populate the vendor information screen or a verif with the data for a vendor in the vendor database 1 Position the insertion point on any vendor information field for the vendor type 2 Zoom in to the Vendor Database by pressing lt Ctrl Z gt or other method 3 Search to find the vendor that you want to use highlight the vendor and press Select 4 You will return to the borrower file and the vendor information for the selected vendor will be filled in Add a new record to the vendor database There are two ways to add a new record to the vendor database Auto Update and Add Vendor Auto Update Every time you enter a new vendor in any of the vendor information fields on the Vendor Information Screen or any of the verifs the following message will appear The Loan Handler 5 2 Training Manual
49. Leaving 25 Positions Held ie ena Seems Printed by The Loan Handler Contour Software Inc Fonn 1005 Mar 0 Fannie Mac The Loan Handler 5 2 Training Manual Supplement User 66 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Printing Blank Forms Another money saving aspect about The Loan Handler is its ability to print your own blank forms This effectively eliminates the need of purchasing pre printed forms since the program can generate clean blank forms on its own Access The Loan Handler Keep in mind that the procedures used with this feature is no different than how you would normally access the Print Menu so it doesn t matter which borrower file you happen to have open The feature will not be printing ANY borrower information Access the Print Menu lt CTRL gt lt P gt Print or the Print Tool Button Select the desired document s as is normal by highlighting that choice with your cursor and lt CLICK gt to Tag your selection s remember to use if you only want certain documents from within a group of forms i e just the 1st of URLA or just one style of a GFE Select as many documents as you want CLICK on File and choose PRINT a second time This feature includes the ability to print multiple copies of your forms Collating Choose a Different Printer and Choose to Print the Form only To print your selection s lt CLICK gt on Print Reminder Even though the highlight bar may
50. Mail Merge utility Build Query The Build Query engine is used by several Handler utilities to sort borrower files for processing When you open any of the utilities that use the build query engine the build query screen is the first thing to display A query consists of one or more terms A term is a field to which a condition is applied The Build Query utility builds queries that are applied to the borrower database to sort files for processing by the active utility Queries can also be saved for future use Build a Query 1 Open a borrower file in Handler 2 Select Word Data Merge Import from the Utilities menu 3 The Build Query screen will open To build a query specify one or more terms which are then added to the query ioii File Help Term And Or Field ID Add And x FILENAME Filename Select Logic Enter Condition Equals ja And Or Field ID Process Remove Open Save Cancel 4 Select an Operator N A for single term queries Select AND to locate borrower files where all specified conditions are met Select OR to locate borrower files where any specified condition is met 5 Select the Field ID to which the condtion will be applied 6 Select Logic The logic compares the condition to the field value The options are greater than less than greater than or equal to equal to differers from begins with or ends with 7 Condition Enter the condition that the field value is to be compared
51. Mortgage Tech amp Seshco Enterprises GENERAL INFORAMTION Ellie Mae Software Other Products and Services The Most Complete Line of Mortgage Banking Software in the Industry Ellie Mae Consulting Service On Site Consultation with Ellie Mae Corporate staff including general industry topics Ellie Mae Docs Plus Doc Prep Service per Doc Set Pricing No Charge for the software or Re Draws 30 days Ellie Mae Docs Express Doc Prep Service per Doc Set Pricing Docs Local on System Immediate Printing Ellie Mae Web Sites Complete Internet WWW Home Page design hosting and monitoring services Ellie Mae Training Service On Site Training with your Local Ellie Mae Technology Consultants Fannie Mae s DU Interface Interface to Fannie Mae s Automated Underwriting System Freddie Mac s LP Interface Loan Prospector Interface to Freddie Mac s Automated Underwriting System The Import Export Option Automatic Database Linking between programs using ODBC technology The Imaging Option Ability to attach Image Files to the borrower files in TLH The Paperless Loan The Loan Closer On Site Closing Document software The Fax E Mail Reporter Fax E Mail Broadcasting software Status Info Product Info Special Announcements etc The Loan Handler Complete Mortgage Processing software including ePASS The Mortgage Banker Back Office Software Secondary Marketing Post Closing Risk Analysis etc The Loan Servicer Complete PC Loan Servicin
52. Name New Search Property Address MR ew Searcl Loan Number Save Search Look in E Samples LastName FirstName Address LoanNumber Processor Officer AA Conventional 2205 Anywhere Lane Conv arm Pure Larry FA Borrower New 123 Any Street Create A Borrower Primary 123 Any Street 8889977 Processor Loan Officer Duplicate PA Construction Conventional 911 Maulberry Street Construction Larry Larry Bill 2222 Jones Branch Drive Bill525 Carmen Kipple Mr Lender Delete An 432 Bay Street 8687642 Kathy Bob Interviewer Cony arm 123 Any Street 8687642 Kathy Bob Interviewer __ Recap Con neg am 123 Any Street 8687642 Kathy Bob Interviewer Templates Ex construct 123 Any Street 8687642 Kathy Bob Interviewer Fhaarm 123 Any Street 8687642 Kathy Bob Interviewer Web Apps Exfhafix 123 Any Street 8687642 Kathy Bob Interviewer An 123 Any Street 8687642 Kathy Bob coin se gt 24 borrower s found Here s where you manage the Files created within TLH Note in the left corner it notes this directory is holding 24 files The Last Name box reflects what you have typed For instance if you want to find the File for Andy Example listed as Example Andy simply start typing the last name i e EXA is enough to find the Example files and lt CLICK gt Find Now button The Search String box shows EXA as it has found and highlighted the first EXA match To reset the Sear
53. OLUMBIA SC 29201 Preparation Date 01 20 00 120000 00 Base Loan Amount 105000 00 Total Loan Amount 105000 00 Interest Rate 8 125 Type of Lean Conventional Loan Number 1234567890 Sales Price The information provided below reflects estimates of the charges which you are likely to incur at the settlement of your loan The fees listed are estimates actual charges may be more or less Your transaction may not involve a fee for every item listed The numbers listed beside the estimates generally correspond to the numbered lines contained in the HUD 1 or HUD 1A settlement statement which you will be receiving at settlement The HUD 1 or HUD 1A settlement statement will show you the actual cost of items paid at settlement A designates those costs affecting APR rit BA A A Origination Due Lender 1 500 A Discount w Appraisal Fea Credit Report Lender s Inspection Fee Tax Services Contract Underwriting Review Administration Fee Application Fee Commitment Foe Warehouse Fae Interest Differential Yield Sprd Prem Serv Ral Pram 0 500 525 00 Origination Due Broker FHA Upfront MIP VA Funding Fee Flood Certification Fee Courier Fee rPPPPPP PP PP DvP PP pb PP RA wD ff WH t ff gt Prepaid Interest 15 days 23 70 Mortgage Insurance Premium Hazard insurance Premium Flood Insurance Premium Principal and Interest Real Estate Taxes Hazard Insurance Mortgage Insu
54. PPORDR Appraisal Request Form MBAREFI A Consumer s Guide to Refinancing your Mortgage APPROVAL _ Approval Form for the borrower s loan MBAREJ If your Mortgage Loan Application is Rejected APPROVE2 _ Detail of borrower s Liabilities MBASAVE How to save Half on Mortgage Interest BORINTRO Introductory Letter to borrower MBASETTL A Consumer s Guide to Mortgage Settlement Costs CHECK1 Checklist for Missing documents MBATRANS _ Request for Mortgage Insurance COMPLI Compliance Agreement MESSFEE Borrower Agreement to Pay any Messenger Fees CONTRACC Contract Certification MORTINS Request for Mortgage Insurance CREDIT Order Form for Credit Report NETCHECK _ Funding Check Breakdown of Fees CREDAUTH Credit Authorization Release Form OCCUPANC _ Statement of Occupancy OCCUPY Notice of Intent to Occupy Subject Property CUSTLIST A List of these Custom Letters RATEDISCL Interest Rate Disclosure ECOA Equal Credit Opportunity Act Notice RECEDE Recession Notice to Escrow Attorney and Title Co s ENERGY Info on Water Heaters Installation of Ducts amp Pipes REFERRAL Referral Letter EXAMPLE An example of Custom Letter IF THEN Statements REGISTER Verification of Registration Holding of Loan FAIRLEND Fair Lending Notice STATUS A general Status Letter FHAMENCL FHA Mandatory Clause STATUS2 A detailed Status Letter FLOOD Flood Insurance Coverage STATUS3 A brief description of Loan Status FNMA1
55. RMS PROGRAMS Fill in as per a normal ARM except use number of WEEKS instead of months Note that the Bi Weekly payments will not effect the P amp I calculation on the forms other than the REG Z printout 7 INTEREST ONLY PROGRAMS Fillin TERM and leave BALLOON DUE IN field blank The BALLOON DUE IN field is only used for Balloon Payment loans The PROPERTY VALUE is only required with DECLINING BALANCE PMI with an LTV CUTOFF 8 CONSTRUCTION LOANS PROGRAMS These types of loans can vary depending on a number of different factors Second Page of REG Z or Good Faith Estimate they have basically the same data fields Fill in the fields on this page as they apply to this loan Note that all sections on the Second Page of REG Z either have a A next to them or not An A represents it will directly affect the APR calculation The other items have no effect on the APR This form does not replace the need for a Good Faith Estimate even though they are basically the same fees and charges Print your Good Faith Estimate from the Print Menu For PREPAID INTEREST USE 360 DAYS Y N N will use 365 days Answer N for No on FHA VA loans and Y for Yes for most Conventional loans Government loans should have MIP FEE added to the first section The second section is for fees to third parties At the bottom of the form enter an E for ESTIMATE if you would like an E placed next to all of the figures Leave blank otherwis
56. SIMPLE INTEREST __ We regret that we must terminate the line of credit on Account Number 00123456789 Other WE DO NOT LOAN FUNDS WITH THE SPECIFIC TERMS YOU HAVE REQUESTED I E WITH NO INTEREST II PRINCIPAL REASONS FOR ADVERSE ACTION CONCERNING THIS CREDIT __ Credit application incomplete __ No credit file in consumer reporting agency ___ Insufficient credit references __ Insufficient credit file __ Unable to verify credit references __ Slow delinquent repayment history __ Temporary or irregular employment __ Inadequate collateral __ Unable to verify employment __ Too short a period of residence __ Insufficient length of employment __ Temporary residence __ Insufficient Income __ Unable to verify residence __ Excessive obligations __ Bankruptcy __ Unable to verify income __ Garnishment attachment foreclosure or suit __ We do not grant credit to any applicant on the terms and conditions that you have requested Other WE DO NOT LOAN FUNDS TO PEOPLE IN YOUR LINE OF WORK HIGH RISK OCCUPATION IV DISCLOSURE OF USE OF INFORMATION OBTAINED FROM AN OUTSIDE SOURCE __ Disclosure inapplicable __ Information obtained in a report from the following consumer reporting agency Under the Fair Credit Reporting Act you have the right to make a written request within 60 days of receipt of this notice for disclosure of that adverse information Contact Company TRW CREDIT RESOURCES Address 843 10TH STREET City State Zip YOUR CITY ST
57. Summary and Company Specific Forms Bay Banc Mtg Submission Form United Guaranty Mtg Ins Application MGIC MI Application etc If you envision The Loan Handler as a computerized typewriter then it s easy to see how our program helps you fill out forms Simply select one form at a time from this menu place it in our computer screen and fill out the data fields as they are presented One huge advantage of the program however is that as you type information borrower data onto a form it automatically carries that information over to other forms and enables many of the calculations that are required in order to submit a loan file to underwriting Handler has always provided a forms on the screen look that makes TLH extremely easy to use since you type data onto forms you already know and recognize The Loan Handler 5 2 Training Manual Supplement User 13 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises TE Ht x File Tools Help amp gt Print Order Select I a Vaneo A Deposits JA Employment JA Liabilities A Residence QA Securities E All Documents TLH Docs Custom Letters a TLH Attached Documents 4A Real Estate Owned Unselect C g Deposit Verification s ml Loan Verification s a g 1st Mortgage Verification s 9 Subordinate Mortgage Verification s a Securities Yerification s GW Schedule of Real Estate IL ILII S Loan Submission
58. TA GA 30303 Fax 800 432 4432 EMail creditbureaufaol com Selling Broker Attn N A Comments Phone Fax E Mail Listing Broker Atin N A Comments Phone Fax E Mail Mortgage Insurance Attn ROBERT MORTON GE MORTGAGE INSURANCE Comments Beeper 435 4312 TWO RALEIGH DRIVE Phone 800 234 4321 RALEIGH NC 27202 Fax 919 234 4323 E Mail gemi aol com Builder Broker Attn N A Comments Phone Fax E Mail Lander Investor Attn RENEE DOYLE COUNTRYWIDE FUNDING Comments U W FRNCIS SMITH 35 MORTGAGE WAY Phone 800 32 4566 LOS ANGELES CA 90009 Fax 800 324 5555 EMail countrywideSacl com Loan Amount 105000 00 Sales Price 120000 00 Interest Rate 8 125 Cash Needed to Close 20327 01 Monthly Payment 779 62 Gross Income 6625 00 Tem 360 Due Type Conv Fixed 1stLtv 95 83 Mortgage Position 1 Combined LTV 95 83 Assets 436500 00 1st Mortgage Loan 115000 00 Liabilities 209264 00 2nd Mortgage Loan Debte Assets 50 66 3rd Mortgage Loan s Net Worth 227236 00 Total Deposits 46000 00 Top Ratio 14 780 Total R E income Bottom Ratio 25 000 Total R E Liabilities 87 00 Top Housing Expense 979 00 Bottom Total Expenses 1656 00 Status APPROVED 4 Date Griginated 01 20 00 Date Submitted 01 23 00 Date Approved 01 23 00 Date Closed Adverse Action i Price Lock N Investor Lock Price Expiration Investor Expiration Estimate Close Document Expiration RECAP 06 57 Printed by The Lo
59. This product is licensed to DEMO ONLY NOT FOR RESALE lt a 9999 YOUR ADDRESS r TOI U YOUR CITY CA 99999 SOFTWARE WNC SE p 5 2 Copyright 1982 2002 Contour Software Inc Copyright 2002 ELLIE MAE Inc All rights reserved The Loan Handler TRAINING MANUAL SUPPLEMENT USER This supplement has been created by Mindy Paltridge of Mortgage Tech Inc and Jeff Seshun of Seshco Enterprises and is provided to you as a courtesy It will prove to be very helpful as it will provide step by step instructions for many of the tasks that you will perform in your day to day use of The Loan Handler IMPORTANT REMINDERS For Loan Originators who will use this program Don t be afraid to work on the program in front of borrower s most will appreciate the use of technology and like seeing their name and loan data on the screen They ll even feel as if they are receiving special attention especially if their last Application was taken on the back of a bar napkin or an envelope Do NOT erase borrower files They are electronic assets of your company and you will need all borrower files for the two 2 government reports the HMDA Report and the LAR Register Everyone originating mortgage loans may need these Government requirements tracking the closed rejected and withdrawn applications Furthermore management will want all these borrower files for many other reports that they will generate The Loan Tracker can generate these report
60. Training Manual Supplement User 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Using the Conditions Database page 3 Sample Categories and Sample Conditions Stips within in them Appraisals Underwriting A signed dated and typed Appointment set with All verifications in file Computer Generated URLA borrower A satisfactory Credit Rating Preliminary Range Estimate Satisfactory Credit Report with Credit Explanation of Values Completed VOE s for Borrower Condition of Property Satisfactory Appraisal and Co Borrower All documents signed by Borrower Basic Property Information Title Report in file and Co Borrower i e Lot Size Property Size Estimate of Square Footage Completed VOM s in file or copy of document sent Loan Number assigned Appraisal Ordered Countrywide Fixed 90 Chase Refi B 80 WMC 2 28 or A signed amp dated URLA A signed amp dated URLA A signed amp dated URLA Adequate Credit Score Adequate Credit Score Adequate Credit Score Completed VOE s Completed VOE s Completed VOE s All Disclosures signed All Disclosures signed All Disclosures signed Completed VOM s Completed VOM s Completed VOM s Loan Number assigned Loan Number assigned Loan Number assigned Full Appraisal Full Appraisal Full Appraisal Create as many Conditions Stips as needed for each Category each Category can support up to 99 Conditions Stips The Conditions Stips List can be printed from the Main Menu of
61. Type 1 4 ic Select Logic Enter Condition Equals fas Fired And Or Field ID Press Add to add the term to the query Define the second term Interest Rate gt 7 75 Select AND as the Operator Select F608 Amortization Type 1 4 as the Field ID Select Is Greater Than as the Logic Enter 7 75 as the Condition Press Add to add the second term to the query Your query is now complete and the Build Query screen should look like the illustration below The Loan Handler 5 2 Training Manual Supplement User 89 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises 9 iT MT lix File Help Term And Or Field ID and Fs08 Amortization Type 1 4 Select Logic Enter Condition fis greater than 7 7 75 And Or Field ID Process Equals Fixed Is greater than 7 75 Remove Dpen Save Cancel 2 term s added Press Process to obtain a list of borrower files matching your criteria 10 Press OK to proceed with the Batch Word Interface Using Word Link you can merge a Main Document created in Word with borrower field data from a single borrower file or from multiple borrower files To create a Data Source file using Word Link ale 2 Open a Handler application Select Utilities Word Data Merge Export from the menu bar The Build Query screen appears Select the borrowers to process using the build query engine or press Process to process all files in y
62. UMBER OF PROPERTIES OWNED SHE SAID OK KEEP PROCESSING WILL CLASSIFY LOAN AS SPECIAL CASE 06 18 99 5 38PM SUE CALLED BORROWER LEFT MESSAGE STILL NEED W 2 S 1040 amp SCHEDULES ETC Borrower Conversation Log Page 2 Borrower Conversation Log Page 3 Update Comments automatically placed here by the program PRINTED ECOA LTR 12 46 PM on 06 12 99 PRINTED TIL COVER LTR 12 46 on 06 12 99 PRINTED 1MISSING LTR 12 47 PM on 06 12 99 F 06 16 VOE 2 Actual Income LESS than stated Old 5500 00 New 5300 T B Ratios 21 26 31 76 F 06 24 VOM4 Actual Balance GREATER than stated Old 25500 00 New 29500 T B Ratios 22 64 33 63 PRINTED 1STATUS3 LTR 9 08 AM on 06 25 99 PRINTED 1COMMENT LTR 9 09 AM on 06 25 99 The Loan Handler 5 2 Training Manual Supplement User 73 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises lcustfiel ltr CUSTOM FIELDS ANSWER LIST Borrower Name JIM EXAMPLE Co Borrower Name JANE EXAMPLE Property Address 123 ANY STREET CHARLOTTE NC 28201 Loan Originator BOB JONES Printing Date 06 30 99 The following is a listing of the ANSWERS to your Custom Fields Questions Custom Fields is a form listed on your Processing Forms Menu within The Loan Handler The date listed above is the date that this sheet s was printed so keep in mind that there may additional answers in the loan s computer file that are not listed here Borrower Car Phone Number 803 234 0987 Borrower Pag
63. US AMERICAN BANK CREDIT UNION APPLE COMP COMPUTERLAND CITIBANK 1124 STREET 222 B STREET 743 SAM STREET 3482 ANY SREET 976 BAY STREET 8443 BIG STREET 343 CAMDEN 732 FINANCIAL 795 EASY WAY 854 APPLE WAY MAIN SHP CENTER 234 BANK AVE EXCONARM 1 A The Loan Handler 5 2 Training Manual Supplement User 79 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Using the ePASS Business Center ePASS Business Center is the most complete online business solution for mortgage professionals providing all the tools needed to seamlessly submit loan information to a growing number of ePASS lenders vendors and GSEs directly from within the loan file in The Loan Handler LOS With My ePASS you now have the ability to customize your ePASS Business Center page to display links to the Vendors and Lenders that you access most frequently More features are also in the works to allow you to further customize and personalize your ePASS Business Center to make working with ePASS as easy as possible for you The ePASS Home Page IMPORTANT You must be connected to the Internet to use ePASS To access the ePASS Home Page click on the ePASS button from the TLH toolbar at the top of the screen mu The Loan Handler ePASS Business Center jaj x File Edit View Field Tracking Utilities Help oS amp Gry New Open Save Print Previous Forms Next ePASS Credit Comments DocList Zoom Borrower K Conv ar
64. US 99989 Telephone 800 325 4654 __ Information obtained from an outside source other than a consumer reporting agency Company SEARS Address 100 MICHIGAN AVENUE City State Zip CHICAGO IL 60060 Telephone 312 344 1000 V ECOA NOTICE The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race color religion national origin sex marital status age provided that the applicant has the capacity to enter into a binding contract because all or part of the applicant s income derives from any public assistance program or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act The Federal Agency administering compliance with this law concerning this type of lender is The Federal Depository Insurance Corporation Te you are not governed by the FDIC be sure to change the name as necessary in the Custom Letter itself The Loan Handler 5 2 Training Manual Supplement User 77 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises COMMENT FORM TEMPLATE FOR CUSTOM DENIAL LETTER B Comments 6 Date optional DESCRIPTION AND COMMENTS Adverse Action Comments For use ONLY with Custom Letter I1denialb Itr SECT II List terms involving this adverse action USE 1 LINE FOR EACH List Account involving this adverse action Describe adverse action taken that would be other SECT II Describe principle reaso
65. WASHINGT G in a Contour program The Loan Handler 5 2 Training Manual Supplement User 6 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Dedicated Server LAN A Computer Network A computer network is just a group of individual PC s called work stations that are tied together so they can share data i e electronic borrower file folders The file server is the brains of the system amp has the fastest amp most powerful hard drive or electronic file cabinet Each work station has access to its own hard drive and or the file server s hard drive File Server Main Computer The Loan Handler 5 2 Training Manual Supplement User 7 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Non Dedicated Server LAN A Computer Network Pier to Pier A computer network is just a group of individual PC s called work stations that are tied together so they can share data i e electronic borrower file folders The file server is the brains of the system amp has the fastest amp most powerful hard drive or electronic file cabinet Each work station has access to its own hard drive and or the file server s hard drive File Server Main Computer F C etc The Loan Handler 5 2 Training Manual Supplement User 8 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Computer Terminology Automated Underwriting System AUS The term used to describe computer programs that test b
66. When creating a new entry in a Vendor Database use the mouse to advance through the fields or use the lt TAB gt and or lt SHIFT gt lt TAB gt keys PMI On the Prelim Information Form there is a field for PMI VA Funding FHA MIP factor F1107 Use the specific factor for the type of loan you are using i e FHA 50 VA N A and Conventional the chart from the MI Company you use for the specific LTV and MI program If Conventional PMI is needed then be sure to go to the First Page REG Z and fill in the section for PMI near the bottom on the right See the notes called Guide to REG Z Truth in Lending for more details HMDA LARS Information There s Form that is called HMDA LAR Home Mortgage Disclosure Act which is worth using even if you don t have to report HMDA info This is especially true if you have and use The Loan Tracker the Reporting Program since two of these fields Type of Action Taken F1393 and Purpose F384 are used by the Tracker for many of its reports Loan Income amp Costs This is another Form called Loan Income and Costs that is tied to The Loan Tracker and will generate Net Income information based on entries to this section Data entered in this section does NOT affect the GFE or the TIL since the figures may be different and therefore may be used differently for commissions overrides and bonuses The Loan Handler 5 2 Training Manual Supplement User 27 05 2002 Courtesy of Mortgage Tech amp Seshc
67. against In the following examples loan amount equals 200 000 Property City equals San Jose 200 00 and San Jose are the condtions 8 Press Add to add the term to the query 9 Repeat Steps 5 9 above for each term to add to the query 10 Select a term from the list and press Remove to remove that term from the query 11 Press Save to save the query for future use 12 Press Process to process the query and obtain the results 13 Press Open to open a saved query The Loan Handler 5 2 Training Manual Supplement User 88 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Sample Query The following sample query would be used with the Batch Word Interface to send a custom letter to all clients with a fixed rate mortgage with an interest rate of 7 75 or greater advising them that it may be a good time to refinance their loan This query will consist of two terms The selected operator is AND because you want to find all loans where the amortization type is Fixed AND the interest rate is 7 75 or higher 1 2 Open The Loan Handler Open any borrower file Select Utilities Batch Word Interface from the menu bar The build query engine opens Define the first term Amortization type Fixed Select AND as the Operator Select F608 Amortization Type 1 4 as the Field ID Select Equals as the Logic Enter Fixed as the Condition olx File Help Term And Or Field ID a and bed F608 Amortization
68. al Property amp Flood ia Today s Mortgage News e Mortgage Rates Fall e Subprime Loan Sector Doing Surprisingly Well e Mortgage Loan Applications Up Bankof America as My ePASS HomeSide GE AU Central PMI Contract Underwriting First American Credco and Executive Reporting Services Ellie Mae Document Services First AmericanTitle First American Flood Data Services gt First American Appraisal Services First American Real Estate Solutions Valueweb Please log on to enable your My ePASS customized links e Mail Password My ePASS Password not ePASS Password Log On FHA 56273 92 88 46 88 46 F745 C ial SAMPLES EXCONARM 1 Sign up with a Service Provider Depending on the service provider the hyperlink above will take you to the company s own web site or to a web form created by Ellie Mae The procedures for sign up varies for each service provider Follow the instructions provided at each service provider screen The Loan Handler 5 2 Training Manual Supplement User 81 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Credit Reports IMPORTANT You must be connected to the Internet to use ePASS Sign up with a credit reporting service In order to use the ePASS credit reporting interface you must have an established account with a credit reporting service Sometimes you will need to set up a new account for ePASS tran
69. alarmed if you see an empty line in your list of VOR s or VOE s i e if the spot for the Borrower s third and fifth residence 3 and 5 aren t needed but all three spots for the Co Borrower VOR s 2 4 amp 6 are needed line numbers three and five for VOR 3 and 5 will be empty simply because they don t exist we didn t type any data in them 5 Fill in any missing data in the Employment Schedule Mouse lt CLICK gt on the Forms Tool Button and then lt DOUBLE CLICK gt on Employment Schedule Keyboard Press lt CTRL gt lt W gt Where and press lt E gt Employment Schedule and lt ENTER3 gt to access these forms and lt ENTER gt again to access the first VOE A good deal of this information was entered while you were on the 1st Page URLA but here you can make any changes and or add any new information as needed use the Zoom feature to access your list of Employers and use your preferred method of advancing to the next form in order one form at a time keeping in mind our Odd Even numbering pattern and that there s no limit to the of VOE s that you create 6 Fill in any missing data in the Residence Schedule Mouse lt CLICK gt on the Forms Tool Button and then lt DOUBLE CLICK gt on Residence Schedule Keyboard Press lt CTRL gt lt W gt Where and press lt R gt to highlight the Residence Schedule and lt ENTER gt to access these forms and lt ENTER gt again to access the first VOR A good deal of thi
70. and Employment Schedule Mouse lt CLICK gt on the Forward Tool Button right pointing arrow Keyboard Press lt CTRL gt lt A gt Ahead to access the next form Use the same techniques as above and fill in this form Notice the Odd and Even numbering pattern on the following printed sample pages Items for the Borrower left side are Odd numbers and items for the Co Borrower right side are Even numbers envision how forms are printed like we read a book top to bottom left to right VOR s If separate Rent Verifs are needed meaning you ll print them and send them out then simply fill in the data as it appears here This data automatically transfers to your VOR forms and you can fill in any remaining data later in our shortcut method Use lt TAB gt to advance to each Borrower VOR spot and then on to the Borrower Employment Section VOE s Like VOR s if VOE s are needed and will be sent out simply fill out these sections on the App This data automatically transfers to your VOE forms and you can fill in any remaining data later in our shortcut method Use lt TAB gt to advance to each Borrower VOE spot and then on to the Co Borrower side of the App where you can follow the same approach for this side of the from if these items are even needed The Loan Handler 5 2 Training Manual Supplement User 29 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Order of Data Entry page 2 Note later on don t be
71. ber to the end of the File Name i e SMITH2 SMITHS etc see the sheet entitled Creating a Borrower File for more details of how to keep your borrower files organized Custom Fields great for further customizing the program with company specific items i e for marketing lt ALT gt lt d gt Field lt G gt Go To or lt CTRL gt lt G gt Go To Go to Tracking on the Menu Bar and choose Missing Information Report or lt CTRL gt lt M gt How to Transfer Files Source and Destination lt CLICK gt on View on the menu bar lt CLICK gt Calculator once you have your figure press lt Paste gt Either the shortcut on the bottom left corner or press the lt ePASS gt icon on the shortcut bar Lines 1 2 3 8 9 13 14 15 and 16 see the sheet entitled Regulation Z and ARM Loans Go to File and choose Add Co Mortgagor ePASS button on the Shortcut Bar 800 CONTOUR 266 8687 our Ellie Mae ePASS department there is No Charge for this information The Loan Handler 5 2 Training Manual Supplement User 108 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises 50 Ellie Mae Sales Representative Information The Loan Handler 5 2 Training Manual Supplement User 109 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises REFERRALS As any successful mortgage professional knows referrals are an important aspect of lead generation The same can be said for software sales and consulting and we greatly appreciate your referrals In
72. bmission Transmittal Summary Conditions List Tracking Information Form Custom Fields Agency Forms Lender Investor Forms MI Forms Appraisal Forms Environmental Report Forms Title Forms Flood Forms etc lt CTRL gt lt P gt Print Print your documents Loan Handler 5 2 Training Manual Supplement User 35 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises a 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 ORDER OF DATA ENTRY VA Loans Condensed List Create a New Borrower File lt CTRL gt lt L gt Load Fill out the Prelim Information Form lt CTRL gt lt A gt Ahead Fill out the Vendor Information Form lt CTRL gt lt A gt Ahead Fill out the 1st Page URLA does Residence Schedule amp Employment Schedule lt CTRL gt lt W gt Where Fill out the Good Faith Estimate or the Second Page REG Z lt CTRL gt lt W gt Where Fill out the First Page REG Z Truth in Lending lt CTRL gt lt W gt Where Fill out the VA Loan Analysis lt CTRL gt lt W gt Where On Refinance Loans Fill out the VA Rate Reduction Fill out VA Elig Det VA Elig Spouse VA Verif Benefit Req Verif Benefits lt CTRL gt lt W gt Where Fill out the remaining data in the Employment Schedule lt CTRL gt lt W gt Where Fill out the remaining data in the Residence Schedule lt CLICK gt on the ePASS Tool Button Access ePASS lt CLICK gt on the Exit i
73. ch Engine Special Web Sites Programs that provide the service of finding URL s Web Site Locations that contain a key word or topic that you are interesting in i e Yahoo Excite Alta Vista etc Splash Screen Segments of the ePASS menu where the ePASS partners connectivity can be activated The colorful graphical screens that give you electronic access to a ePASS partner s Web Site Status Bar The line at the bottom of a form or document window that shows information in The Loan Handler it shows such as the borrower name type of loan ratios of loan and the current field number where cursor is located Tape Back Up A method of backing up your electronic data i e borrower files uses tapes instead of diskettes Task Bar The special Status Bar on Windows 95 98 and newer PC s that includes the START button Usually it s at the bottom of you screen and it shows you what programs and or folders are open on your desktop TLC The Loan Closer software program from Ellie Mae that Closers Underwriters use to create closing documents for various loan programs The Loan Handler 5 2 Training Manual Supplement User 10 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Computer Terminology page 3 TLH The Loan Handler software program from Ellie Mae that Processors use to process and transfer data for your loans TLT The Loan Tracker software program from Ellie Mae that Management and Processors although
74. ch String erase what was in the box and lt CLICK gt Find Now button Please MOVE your Dead Files Closed Denied Rejected Withdrawn etc to an appropriate folder or directory at least once every month The Open button will open up the borrower file you have selected You can also open a borrower file by selecting and double clicking or selecting and pressing the Enter key on your keyboard The Create button will create a new borrower file in the selected directory The Duplicate button allows you to make a copy of an existing loan This is great for First and Second Mortgages i e EXAMPLE 1 and EXAMPLE 2 and or for Refinances of previous loans i e EXAMPLE2 A or EXAMPLE3 A The Delete button will delete and selected file There is NO RECOVERY of the file once you have deleted it The Recap button will bring up a recap report on any file selected This can be done while you have another file open The Templates button gives you access to the Special Files or Template Files where you can Pre Set or Pre Answer Fields of data throughout the various forms in the program i e Fees and Charges on GFE s see the sheets entitled Creating and or Editing Template Files The Web Apps button allows you to download borrowers applications from your Ellie Mae Website The Close button closes this window Pressing Esc on your keyboard will also close this window The Loan Handler 5 2 Training Manual Supplement User 2
75. chedule and lt ENTERs to access these forms and lt ENTER gt again to access the first VOD When finished communicating with your initial ePASS Partners continue to the Deposit Schedule Access your Depository database and fill out each verif needed by advancing to the next one there s no limit to the of VOD s 9 Fill out the R E Owned Schedule Mouse lt CLICK gt on the Forms Tool Button and then lt DOUBLE CLICK gt on R E Owned Schedule Keyboard Press lt CTRL gt lt W gt Where and press lt R gt R E Owned Schedule and lt ENTER gt to access these forms and lt ENTER gt again to access the first VOM Select First or Subordinate Mortgage Type position as prompted Use the same techniques as above to fill out as many VOM s as you need Remember to access your Mortgage Holder database Fill out each verification needed by advancing to the next VOM there s no limit to the of VOM s The Loan Handler 5 2 Training Manual Supplement User 30 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Order of Data Entry page 3 10 Fill out the Liabilities Schedule Use your ePASS Partners it s much faster and less or no typing for you Mouse lt CLICK gt on the Forms Tool Button and then lt DOUBLE CLICK gt on Liabilities Schedule Keyboard Press lt CTRL gt lt W gt Where and press lt L gt Liabilities Schedule and lt ENTER gt to access these forms and lt ENTER gt again to access the first VOL Use the sa
76. con and then lt CTRL gt lt W gt Where To access your ePASS interfaces to Credit Bureaus MI Companies Appraisers Flood Title etc Fill out the Deposit Schedule lt CTRL gt lt Ws gt Where Fill out the R E Owned Schedule lt CTRL gt lt W gt Where Fill out the Liabilities Schedule use your ePASS for this task lt CTRL gt lt W gt Where Fill out the Aggregate Analysis Form Optional lt CTRL gt lt W gt Where Fill out the 2nd Page URLA lt CTRL gt lt A gt Ahead Fill out the 3rd Page URLA lt CTRL gt lt A gt Ahead Fill out the Addendum URLA lt CTRL gt lt A gt Ahead Fill out the Government Appraisal lt CTRL gt lt W gt Where Fill out Comments Loan Submission Transmittal Summary Conditions List Tracking Information Form Custom Fields Agency Forms Lender Investor Forms MI Forms Appraisal Forms Environmental Report Forms Title Forms Flood Forms etc lt CTRL gt lt P gt Print Print your documents VA Loan Summary completed after the loan has closed The Loan Handler 5 2 Training Manual Supplement User 36 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Uniform Residential Loan Application This application is designed tobe completed by the applicant s with the Lender s assistance Applicants should complete thie form ax Bormwer of Co Borrower ax applicable Co Borrower information must also be provided and the appropriate bax checked when the income or asset
77. d and its description are listed F18 F65 F97 F364 F387 F610 F617 F984 PROPERTY YEAR BUILT BORROWER S SOCIAL SECURITY NUMBER CO BORROWER S SOCIAL SECURITY NUMBER LOAN NUMBER ATTORNEY ESCROW COMPANY FEE ATTORNEY ESCROW COMPANY NAME APPRAISAL COMPANY NAME UNDERWRITER NAME F1173 LEAD SOURCE F1188 BORROWER S FAX NUMBER FE0204 CO BORROWER S EMPLOYER S MAILING ADDRESS VOE 2 The Loan Handler 5 2 Training Manual Supplement User 69 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises lstatusl ltr BORROWER STATUS LIST Complete List Borrower s Name JIM EXAMPLE Co Borrower Name JANE EXAMPLE Property Address 123 ANY STREET CHARLOTTE NC 28201 Loan Originator BOB JONES Printing Date 06 26 99 The following is a complete listing of all items needed for this borrower as of the above date This is the date that this status sheet s was printed so keep in mind that the status of some items may have changed since this sheet s was printed Key N Needed the item is needed for this type of loan O Ordered the item was ordered from the appropriate source R Re Ordered the item had to be ordered two or more times from the source F Filed the item was received reviewed and filed away Credit Report F 06 12 Current Paystubs R 06 19 O 06 12 Last Two 2 Years of W 2 s F 06 21 R 06 19 O 06 12 Last Two 2 Years of 1040 Tax Returns F 06 24 R 06 19 O 06 12 Gift Letter Source of Funds N Last Th
78. ddress http www epassbusinesscenter com index asp 7GV 05 20 0108EV 1 98CID S033008UID Mindyfdnsi 7 E Populate Form PASS Business Center Rates amp Indices Partners amp Promotions Training Center Business Services Bank of America New ePASS users click here Flagstar Bank 5 GN Mortgage lt i ePASS Business Center News GreenPaint Mortgage 8 5 HomeSide 3 00 pre qual single bureau credit reports from First American FREE Flood Certs for One Day Up to 1 50 off interest rate with New Century Mortgage 25 Off the Rate Sheet Price with Impac Lending Impac Lending New Century Mortgage Saxon Mortgage WMC Direct 3 New Additions to ePASS DIP ss Ordering Title from your LOCAL provider is as easy as ordering credit e Open House Flyers Quickly create an Open House Flyer online Fannie Mae e HomeSide Lending View Rates Submit for Underwriting Register Lock and View Pipeline Status Freddie Mac PMI Contract Underwriting IL Today s Mortgage News GE AU Central e Mortgage Rates Dip Slightly Hybrid ARMs Now More Popular Than Ever Impac Mortgage Holdings Announces Its New Interest Only Loan Program Credit Reporting Document Preparation Support Products Updates My ePASS 3 00 Single Bureau Credit a An E HOMESIDE LENDING HomeSide gt GE AU Central PMI Contract Underwriting Fi
79. ditional information can be found in the HUD Special Information Booklet which is to be provided to you by your Mortgage Broker or lender if your application is to purchase residential real property and the lender will take a first lien on the property The undersigned acknowledges receipt of a copy of the Special Information Booklet Settlement Costs SFELEND1 03 08 The Loan Handler 5 2 Training Manual Supplement User amio ANN EXAMPLE Date This Good Faith Estimate is being provided by Page 1 of 2 44 Printed by The Loan Handler from Contour Software Inc 408 370 1700 wenw contourseft com 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Broker Style ook GOOD FAITH ESTIMATE Not a Loan Commitment Loan Number 1234567890 This Good Faith Estimate is being provided by DEMO ONLY NOT FOR RESALE a mortgage broker and no lender has yet been obtained A lender will provide you with additional Good Faith Estimate within threa days of the receipt of your loan application The Information provided below reflects estimates of the charges which you are likely to inour at the settlement of your loan Tho fees listed are estimates actual charges may be more or less Your transaction may not involve a fee for every item listed The numbers listed beside the estimates generally correspond to the numbered lines contained in the HUD 1 of HUD 1A settlement statement which you will be receiving at settl
80. dor database position the insertion point in any vendor field on the Vendor Information Screen or other form e Press the Zoom button on the TLH toolbar e Press lt Citrl Z gt or e Right click and select Zoom 2 The vendor database will open for the type of vendor in the active field and will display the most recent search results for that vendor type Vendor Database 0 x File Tools Help General Info Location Find Now Company Name BT New Search Contact Person TY ew Searc Vendor Type GA Builders Brokers Sample Builder broker Vendor 123 Sample Address Sample City 1 vendor s found 3 Press New Search to clear the search fields 4 The vendor database screen is divided into two tabs e General Info includes the Company Name Contact Person and Vendor Type e Location includes Street Address City and State The Loan Handler 5 2 Training Manual Supplement User 23 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises 5 Vendors are categorized according to type Click on the Vendor Type drop down list to view the entire list of categories ST lolx Eile Tools Help General Info Location Company Name nT J New Search Contact Person Raa ew Searc Vendor Type Builders Brokers Credit Bureaus Creditors __ Select Deposits Add Employers 8 Escrow Co Attorney Edit i Financial Planners 4 Flood Insurance Delete E Hazard
81. e solely by yourself 5 Jointly with your spouse SF or jointly with another parson essem a The undersigned pif ic schnewiedgels snd agres s thet the loan requested by this application wil be secured by a first imertgege of deed of trust on the property described ais the troperty wil not be ussito Say Regal or probiiited purpose or wes 3 aN statements ramde bt tile application ara made For the purpase of obtairing the loan Indicated harain 4 oectipation of the property will ive indicated ab cation or reverification of any Informatken contained in the application may be made at any time by the Lender its agents successors and iasigns wither directly am though a orad reporting agency ira ay source named in this application sad the aripinal copy of this application will be retained by the Lender even if the loan istiot approved 6 the Lander jia agents successors and assigns wll rely on the Tfenyition in the application and Ywe have a contiuing obligation ta amend and or supplement the infutiigiion provid d in this application if sny of the rasterial facts which we have represented hereln shodit change prior to closing 7 in the event my our payments on the leen indicated in this app on become delinquent the Lender ke agents Mictakk ra end assigns may la addition to ali thair other rights Radies repat my our names and accaunt infomation to a credit sapgriini agency 8 ownership of the loan may be tranctetred to succeneer
82. e ve incorporated both Import and Export functions in The Imaging Option with nine different image file formats These formats are BMP DCX GIF IMG JPG PCX TIF WMF and WPG Most scanners with a TWAIN driver will work however TWAIN is relatively a new standard and some scanners may not implement all the functionally properly The following Scanners have been tested with the software used to design The Image Option and seemed to work properly Hewlett Packard Scanjet Plus Hewlett Packard Scanjet IIC IIP IICX Logitech ScanMan 256 Logitech Fotoman Microtek Scanmaker IIXE Ficus Leoscan 610 Ficus Leoscan 1210 and a Plusteck Pagereader 800 Scanning multiple pages or multi page support means that you can have more then one page in an image file The image file is really a container of images Each image is considered a separate page The current version of The Imaging Option provides support for maximum 9 pages per image file and you can have up to 30 image files This means that up to 270 images can be stored for each borrower Image files can be organized as folders and or images according to your needs This tool is able to support most ADF based scanners When you enter the number of pages to scan as a value greater than 1 the Use ADF Check Box becomes enabled If you want to use ADF enable this check box You must stack all the pages at once and then click the Scan button on the Scan window The manufacturer suggests Hewlett Packa
83. e Answer Yes to ALL DATES AND NUMERICAL DISCLOSURES ARE ESTIMATES These two questions work together If left blank it will print a final GFE These are some of items that may need to be adjusted to reflect the requirements of your particular lender investor 1 Round APR 3 Places Y N N means 2 Places 2 Use Prepaid Interest in APR Y N Include Prepaid Interest Amount in the APR calculations 3 Odd Final Payment Y N Shown on payment schedule of the REG Z printout The last payment will be the actual last payment paid when the loan is fully amortized over the full term of the loan either is legal Always be sure to verify that the methods and procedures used when creating your Truth in Lending and Good Faith Estimate are correct and acceptable to your Regulatory Agency and or Lender Investor These notes are intended to be general guidelines and we in no way guarantee their compliance with all possible regulations The Loan Handler 5 2 Training Manual Supplement User 58 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Regulation Z and ARM Loans This sheet explains how to use TLH to produce a proper REG Z TIL Disclosure for a number of common ARM loan products For more details see the sheets entitled Guide to Regulation Z Truth in Lending Here is sample data for the examples listed below Index 6 25 Margin 2 50 Per Adjustment 2 00 Adjustment Periods 12 24 36 48 60 84 120 months Lifetime Rate Cap
84. e While on an appropriate category lt CLICK gt on to access the list for that category then lt CLICK gt on the individual items that you want to select for printing use the Scroll Bar if necessary Keyboard Press lt right arrow gt to expand the list Then press the lt Tab gt button to access the individual items Press lt SPACEBARP gt on the individual items that you want to select for printing Once you ve finished making your individual selections for a category lt CLICK gt and move on to the next category When you re done with all categories and you have a printer able to provide the appropriate paper size you re ready to print all items needed for the Borrower if your printer can t print both legal and letter then it might be better to print all legal docs switch paper trays and go back and select all your letter size docs or if your printer lets you print everything on legal size paper Mouse lt CLICK gt on the Print Button when you are finished selecting your forms Keyboard Press lt ALT gt lt F gt lt P gt lt ENTER gt when you are finished selecting your forms The Loan Handler 5 2 Training Manual Supplement User 32 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises ORDER OF DATA ENTRY Conventional Non Conforming Loans Condensed List _ Create a New Borrower File lt CTRL gt lt L gt Load 2 Fill out the Prelim Information Form lt CTRL gt lt A gt Ahead 3 Fill out the Ve
85. e Easy to read report format with customization available Existing Factual Data Clients OR New Clients Request Credit Report After getting set up with Factual Data click here to Request Credit Reports e iew Credit Report View an already downloaded Credit Report Liabilities Import To import information from the credit report into the liabilities section 1 Request a credit report for the borrower co borrower 2 Open the borrower file e Get Set Up with Factual Data Follow this link for instructions on how to pull credit reports via ePASS 3 Press the drop down arrow to the left of the Credit button on the TLH toolbar The Loan Handler 5 2 Training Manual Supplement User 84 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises SS Credit Comments Doc Lis Order Credit Report View Credit Report Import Liabilities r 4 Select Import Liability MISCELLANEOUS OPTIONS Transfer Borrower Files Transfer Borrower Files is used to synchronize the contents of the Loans folder with the list of files that appears on the Open Borrower screen If you move files in or out of the Loans folder or between sub folders of the Loans folder using any method other that Transfer Borrower Files these changes will not be reflected on the Open Borrower screen until you perform a Database Rebuild Transfer Borrower Files 1 Open a The Loan Handler application 2 Select Utilities Transfer Borrower Uti
86. e Schedule of RE and you will the grand total In fact one Processor in NC once created a loan file with sixty four 64 VOM s The Loan Handler 5 2 Training Manual Supplement User 28 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Important ORDER OF DATA ENTRY Shortcut Method Conforming Non Conforming Loans These next few pages show you how to enter borrower data into The Loan Handler for Conventional Non Conforming Loans in the fastest and most productive way possible so that you can make the best use of your valuable time 1 Create a New Borrower File see the sheet entitled Creating a Borrower File Mouse lt CLICK gt on the New a Piece of Paper with the top left hand corner folded down or the Open Tool Button an opening Manila Folder Keyboard Press lt ALT gt lt F gt File and then lt N gt New or just press lt ENTER gt with New highlighted or press lt CTRL gt lt L gt Load Borrower and search for the name First if it doesn t already exist press lt ALT gt lt C gt Create 2 Fill out the Prelim Information Form Mouse Use the Mouse to navigate this form Use the Scroll Bars as needed to reach other sections of the form Keyboard Use the various Keys see the sheet entitled Cursor Movement Keys to advance through the form and fill out as much as is appropriate for this borrower Remember you can place s in any field on any form throughout the program that you know you ll need bu
87. e actual cost for items paid at settlament Ecin FRN Pt CABLE IN GCONNEGHOR WHAEA Origination Fee 1 500 tt 1575 00 275 00 79 00 225 00 17 50 4 Eug EMS REOUIREL EY LENDER RRETAN peress g paa ee Baa ieee H 5 ENDER ESBE i ee re cee 901 Prepeid Interest 15 ays 23 70 Cd 355 50 902 Mortgage insurance Premium TS OOLCCCd 903 Hazard insurance Premium C CSC SC C C C C C C dSC dSGSSO C C S 904 n Flod Insurance Premium TO S O SOOOUOUOU OS NOOO RESERVES DEPOoti eit With LENDER cc E 61 26 831 25 500 00 1007 4008 1009 Aggregate Analysis Adjustment 1101 Fes to MOORE HILLER amp GAULT 1105 Document Preparation Fee to CONTOUR DOCUMENT SERVICE 1108 Title Insurance Premium to AMERICAN TITLE 1112 Title Binder PTH US GOVE MIIERLE RECT RGT ECS AN BANE PCa oes oS 1201 Recording fees 1202 City County tax stamps Leaf 90 a Lh gt pea oe I eS SN ae ee ESS DORIONAL SETTLEMENT EHARGES cc ee 1301 Survay to 30 0 1303_Lump Sum Seller Paid 1500 00 ALE D SETTLEMENT CHARGES 5380 01 1500 00 400 00 351 00 oO a aimata are prow 3 F TENE om Pi be tourd ion Booldet which ia ka be provided to you by your mortgage broker or lender if your application is to puchaw rmdential real property and the lender will take firat tien on the property The undersigned acknowiadge s receipt of a copy of the Spacial Information Booi et Sett
88. eature lt SPACEBARs3 selects or tags an item marks it for inclusion in your task i e as in tagging a form for printing to unselect or untag an item simply press lt SPACEBAR gt again lt gt Question Marks in any field that you need or think you need but don t currently have a Custom Letter 1missing ltr the Missing Information Form or Missing Information Report in TLT can provide a list of these Question Marks AND what these fields are known as or used for to view a complete list see Utilities Missing Information Report lt ESC gt will close a secondary window or dialog box and return you to your previous task or location Scroll Bars show you where the cursor is positioned in relation to the choices available for that feature Sometimes referred to as elevators and or escalators They remind you that there are more options than can be seen from your present position and can be moved by using the mouse Some move Vertically and some move Horizontally Handler formats Dollar Numeric data fields for you so typing 00 throughout the file is not necessary and a typical borrower s file has hundreds of Dollar Numeric data fields it can literally save you hundreds of keystrokes per file The Loan Handler 5 2 Training Manual Supplement User 20 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Borrower File Directory i xl File Tools Help Borrower Info User Find Now Last
89. een The menu or screen that you see each time you start working in a software program the beginning point or central area of a software program Menu Bar The area at the top of The Loan Handler and other Windows programs containing headings for pull down menu choices Modem A piece of computer hardware that lets you use a telephone line and transmit data between different computers they can be Internal or External Modems Network A group of PC s computers that are all tied together and share the same programs and data there are at least 2 computers on a network but it could many more Node A work station on a network or terminal on a Main Frame Network Notebook Computer A smaller Personal Computer PC a stand alone unit that is portable it may be able to connect to the network system formerly called Laptops Novell NT The network operating system used to operate network software programs Palm Top A even smaller version of a Notebook Computer PC Personal Computer A desk top computer a stand alone unit that is a separate computer it may or may not be part of a network system Root Directory The main directory of your computer usually C gt on PC s and F gt on networks Scroll Bar The bars on the right side and bottom of windows or dialog boxes that let you move vertically or horizontally through a form by clicking the scroll arrows or dragging the scroll bar to different positions Sear
90. ement The HUD 1 or HUD 1A settlement statement will show you the actual cost for items paid at settlement cio PAY ae Le he OONNCO TOM WH LOAM ee ty Origination Fee 1 500 803 Appraisal Fee to SMITH APPRAISERS 275 00 804 Credit Report to CREDIT ASSOCIATES a is 80 CHARGES PAID CHARGES PAID BY BORROWER BY SELLER AT CLOSING AT CLOSING 1575 00 3 8 Lander s Inspection Fea a 4 2 5 z 79 0 E Underwriting Review 4 T 17 50 Eb ee i 1 Prepaid Interest 15 days 23 70 355 50 g0 902 Mortgage Insurance Premium 60 00 903 Hazard Insurance Premium 367 50 OOG BE ecRVeEs DEPOSE WH HENDER 61 26 1002 Mortgage Insuranca impounds 19 months X 43 75 per month 831 25 1004 Property Tax Impounds 4 months X 125 00 per month 1008 Flood Insurance Impounds months X per month Rama E months X DASTER al ena p A A eee 1101 Setti 1195 Document Preparation Fee to CONTOUR DOCUMENT SERVICE 55 00 ie NotaryFeoto CS 1107 AttoneyFeeto O O OOO O O O O U OO S O OoOO LY 1108 Titla Insurance Promium to AMERICAN TITLE 351 00 1112 Title Binder i GOVERNMENT RECORDING ANE TRANSEEN CHARGE TE 1201 Recon rees 42 00 1292 CtyiCounry tex stmps as rer 1203 State weotamps A 1302 Termite Inspection 1303 Property Inspection to 3 1304 Photo Fee to 1500 00 ree A i y ound an th HUD amp T Booklet
91. er Number 800 234 5678 Pin 12345 Co Borrower Car Phone Number 803 234 5847 Be sure to edit this letter and use your questions these are Co Borrower Pager Number just our example questions The answers data will appear 800 234 5678 here by themselves see the sheets entitled Creating Custom Questions Borrower Shoe Size 12 1 2 DD Specific Source of Lead must have for tracking advertising CABLE TV THE WEATHER CHANNEL AND ESPN Borrower Date of Birth 02 11 62 Co Borrower Date of Birth 03 18 59 Custom Field Question 9 Custom Field Question 10 ldeniala ltr The Loan Handler 5 2 Training Manual Supplement User 74 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises NOTICE TO CONSUMER STATEMENT OF CREDIT DENIAL TERMINATION OR CHANGE MR TEST DENIAL LETTER and MRS TEST DENIAL LETTER 123 MAIN STREET YOUR CITY ST 99999 Thank you for your credit application for 120000 00 dated 06 12 99 which has been given careful consideration and __ has been denied __ has been approved __ has been approved with the following changes WE WILL NEED TO PLACE A LIEN ON YOUR SECOND HOME AS ADEQUATE COLLATERAL Part Principal Reason s for Credit Denial Termination or Other Action Taken Concerning Credit This section must be completed in all instances ___ Credit application incomplete ___Length of residence ___ Insufficient number of credit references provided __ Temporary residence Unacceptable type of credit refere
92. es Partners amp Promotions Training Center Business Services Bank of America Flagstar Bank GN Mortgage GreenPoint Mortgage HomeSide Impac Lending New Century Mortgage Saxon Mortgage WMC Direct Full Lender List Fannie Mae gt Freddie Mac PMI Contract Underwriting GE AU Central Credit Reporting Document Preparation Title amp Closing Flood Certification Mortgage Insurance fppraisal Services gt Mortgage Signing AVM Tax Services Fraud Audit Services Additional Services Contour Update Notification The Loan Handler 5 2 Build 20 is now available This update includes enhancements and fixes to TLH 5 2 Build 10 Click on Start Programs TLH 5 2 Server Updates to download this release you need to have 5 2 Build 10 installed in order to apply this update Click here for more information and release notes New ePASS users click here ePASS Business Center News 3 00 pre qual single bureau credit reports from First American FREE Flood Certs for One Day Up to 1 50 off interest rate with New Century Mortgage New Additions to ePASS Family Home Providers offers DOWN PAYMENT Assistance Uncover Loan Audit Problems with Affinity Ordering Title from your LOCAL provider is as easy as ordering credit Find your ideal customers with LeadsToLoans Save Time amp Money Order Flood amp Tax with Univers
93. ete submission package The Handler system can provide a list of where these question marks appear see Utilities Missing Information for a viewable list or provide a printed list of the missing pieces of data This can be done either through a Custom Letter 1Missing ltr or through the Missing Information Report in The Loan Tracker DO NOT type 00 in dollar numeric fields since the program will automatically format your entries to two 2 decimal places for you As an example if the desired entry is two hundred and sixty seven dollars then type lt 267 gt and the program will print 267 00 for you if the desired entry is two hundred and sixty seven dollars and fifty cents then type lt 267 5 gt and the program will print 267 50 for you EPASS crucial in today s Mortgage Arena and Ellie Mae is leading the way If you deal with Lenders MI Companies Appraisers Flood Companies etc that are not yet communicating electronically using your Handler Borrower File data then take a proactive stance and tell them to call Ellie Mae ePASS Managers at 800 CONTOUR 266 8687 We ll provide them with all the necessary details for creating an interface to this important capability Don t let their complacency hold you and your company back Statistical Property Evaluations are now available for a fraction of the cost of a full blown appraisal for Handler clients so be sure to discuss this with your Local TSA These are not full appraisals and as such do no
94. etter underlined in the Menu Name and then press JUST the letter underlined in the drop down menu e g ALT F for File and S for Save TH The Loan Handler Preliminary Information Screen File Edit Yiew Field Tracking Utilities Help File New Borrower Open Borrower Ctrl L Save Ctrl S Close Add Co Mortgagor Remove Co Mortgagor Merge Template Send Mail to Contact Ctrl E Print Ctrl P Exit L Load Quickly access a borrower directory to either load another borrower s file while closing the file you are currently working on or look at a recap of another borrower S Save Save information in your borrower s file on your demand P Print Access the Print Menu E Email Send an email to a Contact Edit Undo Alt Bksp Cut Ctrl X Copy Ctrl C Paste Ctrl V Delete Select All Alt Bksp Undo the last command restore previous data ONLY works if you are still in the same field that you want to undo X Cut Cut Remove selected text easily erase a field and move on to next field C Copy Copy selected text to be duplicated some where else V Paste Paste previously cut or copied text to current cursor location or field The Loan Handler 5 2 Training Manual Supplement User 16 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises View Next Form Forms List Doc List Previous Form Calculator Window Calendar Window User Options A Ahead W Where Y You Add B Back Field Freeze Fie
95. from Contour Software Inc 40879 17900 wenw contoursott com RECAP2 6 08 The Loan Handler 5 2 Training Manual Supplement User 65 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises ye evandacd t iv Wian dero Envelopes Request for Verification of Employme FannieMae ne 1 To Name and address of employer 2 From Name and address of lender AEC CORP DEMO ONLY NOT FOR RESALE HUMAN RESOURCES 9999 YOUR ADDRESS 444 A STREET YOUR CITY CA 99999 YOUR CITY ST 99110 999 999 9999 ic ph the pha Cn 3 Signature of Lander 4 Tithe 5 Date S Lender s No Optional Tick Marit Trike Mork toid C p 01 27 00 1234567890 CF gt CD 7 Name and Address of Applicant Include employes or badge number ANDY EXAMPLE GENERAL MANAGER MANUFACT 123 ANY STREET SS 123 45 6789 COLUMBIA SC 29210 eRe ar amp Signature of Applicant 9 Applicant s Date of frm ployment 12A Current Gross Fay Base Enter amt and Check Period pee zi Se En ae So a Dr er 2 fet Fg SE eee LO ea RI iN RP 6 ra Ah Thr 18 Fight or Base Pay Hazard 16 Date of applicant s net pay increas C ee ee Pe 5 Pa ne en Sm oe ees 18 Date of applicant s last pay increase Overseas or Bonus Combat 18 Amount of last pay increase 4 It Overtime or Bonus la Applicable ie ita Continuance Likely rade 17 Projected amount of next pay increase Total 22 Date Terminated 24 Reason for
96. g ig c Borpd B 6 Current Housing Expense 8 Interest Rate Term yrs 9 Adjusted Buy Down a Contract Sales Price b Borrower Paid CC 6c Cc d STATUTORY INVESTMENT REQUIREMENTS 14 DEBTS amp OBLIGATIONS Mthly Pmts Bal a Total installment b Child support etc 5 d Calculated Maximum Loan Amount T Always use Maximum Loan Amount TENENTER A LOWER AMOUNT LEAVE UNCHECKED Mortgage Reduction if required Field F269 Answering Y in this field will force THE LOAN HANDLER to calculate the maximum FHA Loan Amount and everything that depends on the Loan Amount such as Origination and Discount Fees LTVs and Qualifying Ratios The Loan Amount and all its dependent values will re calculate every time one of its own factors such as property value changes Answer N to allow entry of your choice for the Unadjusted Acquisition Other Statutory Investment Required Total monthly payments 11 MAXIMUM MORTGAGE CALCULATION 15 FUTURE MONTHLY PAYMENTS a Lesser of Sales Price Principal and Interest 1st b Required Adjustments Monthly MIP ic Mortgage Basis 11a 11b isd Homeowners Association Fee d 11 x LTV Factor or less d Ground Rent Recurring Expenses 14d Total Fixed Payment m Principal and Interest 2nd Hazard Insurance Taxes amp Special Assess Total Mortgage Payment Tse eo e ial fer UL Loan A
97. g Manual Supplement User 4 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Computer Technology Personal Computer PC File Cabinet Computer Hard Drives have labels amp are commonly referred to as C or F orthey could be called H M T etc All PC s have at leasta C drive A file cabinet is really just like a computer Hard Drive both hold files amp folders of data The Loan Handler 5 2 Training Manual Supplement User 5 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises The Electronic File The file cabinet represents your stand alone computer drawers represent directories in your computer drawer represents a program i e ESP Finder Closer Windows etc Most directories have each program i e Closed98 Closed99 sub directories within the Loans directory Your computer is really just Folder of Boone s forms The borrower files in your computer are like file folders Each folder contains 1003 s VOE s GFE s etc for a separate borrower s loan Electronic borrower files have labels just like the paper file folder has a tab to identify the borrower In this environment computer file names are eight 8 characters or less i e JONES or WASHINGT so some computer file names are not identical to the complete borrower name Our programs For example the above file for George Washington would be
98. g software with Gov t Reporting capabilities The Loan Tracker Complete Pipeline Reporting software 30 built in reports included The Reg Finder Computerized Regulation Manuals Fannie Freddie VA FHA etc Allregs The Trak It PC Based Loan Servicing without Gov t Reporting capabilities ePASS Internet WWW interfacing to Industry Partners Credit Appraisal MI Lenders etc While these programs are integrated most can be used independently and can either supplement or replace your existing software program s Call us today for more details 800 CON TOUR 266 8687 or log on to www contoursoft com for more details The Loan Handler 5 2 Training Manual Supplement User 3 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises The Mortgage Information Superhighway Ellie Mae ePASS The future of the industry is paved with a variety of communications options Here Scott Cooley provides a model of how the mortgage industry could ideally function Frdauaiomated Detediauistion Systel pdel Mortgage hole Insurance Co Automated Underwriting Fannie Mae Freddie Mac Closing Lead Agent PASS Business Center Mortgage Softwateedit Vend eports Appraisal Co Flood InsReptieting Servicer This chart represents your use of Contour Software with its numerous ePASS Partners Scott Cooley is the Internet or EMail Founder of Contour Software Inc 22 Ser treet Direct Dial The Loan Handler 5 2 Trainin
99. ge dieciosure laws You are not required to fumish t Eradan that a Landet raay akir Siocrbsinata oa a besis ed i Jaamme nor an whether you hoos ta finish it Howes i ou phap aT a EEs ations thie Lender Is required ti te ruew and aac on tha besir of visual observation or sumama Wyau ca not wal ta ich th Ariea please onak tha bex below Under must record ea pony to mesure thet the disdlosures satisfy all requirements to which the ds dar apical a state low for the particular typa of loan applied for BORROWER CO BORROWER CT 4o not wich to furniah this information L do not wish to Surnieh this information American Indian Atlan or Pacific White not of Amarican Indian Asian or Pacific White not of Origin l or Alaskan Native Cga Hiapanic otigin paos Nations or Alaskan Native istandor Hispanic origin in Black not of Hi im Black not of Cj ah Hispanic origin ispanic Hispanic origin Mispanic Other fopecity nn a a auae J other tapacity Sex O Female O Mae Sex A Female Male To be Completed by interviewer interviewer s Name print or typa Name and Address of Interviewer s Employer _ reoto tace interview Jor mat Freddie Mac 65 Rev 19 92 Pagea of 3 Fannie Mae Form 1003 10 92 FRMO0017 02 97 Printed by The Loan Handler from Contour Software Inc 408 370 1700 www contoursoft com This application was taken by poms eset o e ee ee hoan TS ahi Ston Form E terviewer s Phone Number ees eee eee ode by tele
100. ged data within the text of your document When you re done viewing the results lt CLICK gt on the tool button again to un view it and then exit MS Word The Loan Handler 5 2 Training Manual Supplement User 94 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises The Imaging Option This feature is an Image Storage and Retrieval function that can reduce paper document filing Storing and retrieving paper documents as computer images will help to eliminate paper during loan processing You can use this feature to store any document image such as a Rider copies of an Id an Affidavit W 2 s Pay Stubs or even pictures of the property The Imaging Option captures document images in one of two ways you can use a Scanner to scan paper documents and store them as Image Files or you can import images that are already in a standard image file format In either case the scanned image s are attached to the Handler Borrower File Images can be viewed magnified to various sizes printed on standard printers that support MS Windows programs or exported Image Files are stored in Tagged Image File Format TIF which is an industry standard It provides the capability to serve as a container of multiple pages of images and supports the highest degree of file compression TLH also allows you to Import and Export image files to from other applications Those applications may or may not support TIF so in order to avoid file compatibility issues w
101. great when you re not sure if something is needed or accurate Training Review Answers List page 2 Mouse lt CLICK gt on the Save Tool Button Keyboard lt ALT gt lt F gt File lt S gt Save or lt CTRL gt lt S gt Save It s Important get in the habit of saving as you go this is good for any program that you may use Type just the First Character of the entry you want eg lt S gt for SMITH B press lt Find Now gt Guide to Regulation Z Truth in Lending NO They are also Electronic Assets of your company Computer Terminology Go to the Print Box choose what you want to print then go to File then Print and in the drop down choose Form Only Transfer Borrower Files NO the program automatically formats Dollar Numeric Fields for you can save you about 300 keystrokes 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 throughout a typical borrower file Mouse lt CLICK gt on Fiels and choose Freeze Field form the drop down menu Keyboard lt ALT gt lt F gt Field lt F gt Freeze or lt CTRL gt lt F gt Freeze ePASS Web Integrated Transactions Yes lt CLICK gt on View on the menu bar lt CLICK gt Calendar and press and double click on Today lt CLICK gt on View on the menu bar lt CLICK gt Calendar lt DOUBLE CLICK gt on a desired date Click on the Comments icon on the tool bar and choose the Folder URLA Page 4 Add a num
102. gt Where Fill out the First Page REG Z Truth in Lending lt CTRL gt lt W gt Where Fill out the FHA Loan Amount Worksheet Not needed for 203 k loans lt CTRL gt lt W gt Where Fill out Mortgage Credit Analysis Worksheet Refinance Loan MCAW Refi lt CTRL gt lt W gt Where For 203 k do the MCAW Worksheet for 203 k and Maximum Worksheet before this form Fill out the remaining data in the Employment Schedule lt CTRL gt lt W gt Where Fill out the remaining data in the Residence Schedule lt CLICK gt on the ePASS Tool Button Access ePASS lt CLICK gt on the Exit icon and then lt CTRL gt lt W gt Where To access your ePASS interfaces to Credit Bureaus MI Companies Appraisers Flood Title etc Fill out the Deposit Schedule lt CTRL gt lt W gt Where Fill out the R E Owned Schedule lt CTRL gt lt W gt Where Fill out the Liabilities Schedule use your ePASS for this task lt CTRL gt lt W gt Where Fill out the Aggregate Analysis Form Optional lt CTRL gt lt W gt Where Fill out the 2nd Page URLA lt CTRL gt lt A gt Ahead Fill out the 3rd Page URLA lt CTRL gt lt A gt Ahead Fill out the Addendum URLA lt CTRL gt lt A gt Ahead Fill out the Government Appraisal lt CTRL gt lt W gt Where Fill out the Insurance Endorsement Optional lt CTRL gt lt W gt Where Fill out the Conditional Commitment Optional lt CTRL gt lt A gt Ahead Fill out Comments Loan Su
103. gt lt F gt File lt P gt Print or lt CTRL gt lt P gt Print with the Doc Set highlighted press Press the tab key and arrow down to the URLA Page 2 and press lt SPACEBAR gt and then lt ALT gt lt F gt File lt P gt Print and then lt ENTER gt 11 Order of Data Entry and Order of Data Entry Condensed List 12 lt ALT gt lt BACKSPACE gt or lt ESCAPE gt 13 Mouse lt CLICK gt on the Zoom In Tool Button Keyboard lt ALT gt lt d gt Field lt Z gt Zoom Database or lt CTRL gt lt Z gt Zoom 14 Custom Letters great for simple letters and disclosures that you can create and edit as you wish 15 Comments 16 Mouse lt CLICK gt on the Scroll Bar at the right side of the Form sometimes called elevators Keyboard lt CTRL gt lt HOME gt lt CTRL gt lt END gt 17 lt CTRL gt lt N gt Needed lt CTRL gt lt O gt Ordered lt CTRL gt lt R gt Re ordered lt CTRL gt lt I gt Filed 18 lt CLICK gt on File and choose Send Mail to Contact 19 lt TAB gt lt SHIFT gt lt TAB gt 20 Tracking Information 21 City and State and County on the 1st Page URLA this works anywhere there is an Zip Code Field 22 Eight 8 plus an extension of one 1 to three eg SMITH B for borrower files The Loan Handler 5 2 Training Manual Supplement User 107 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises 23 24 25 26 27 28 29 30 31 32 Recap Sheet s Question Marks is also
104. he ePASS Icon and select the appropriate item then let your computer do the rest Even Faster is to click on your hotlink at the bottom left side of the main screen Ee Edt Ve Fef Trecho Miet Het Preliminary Information Screen j This fie last modified by Pee onpa atf er Loan Number File Name File Sams Check apprapnate Bex to ndicate cred score used tor sutminnon Bor CoBor leave h abk Credit Scores r f rf Repositoey 1 Toomoaieed baks CroatScom 2 r f FT Repository 2 ZI Ancaman 7 er Panamtens3 5 SNEDE T Cortera ip Ma PE These lists will continue to grow as more and more vendors involved in residential lending markets climb on board the ePASS Bandwagon If your current vendors don t offer you this important capability have them call our ePASS Managers at 1 800 CONTOUR 266 8687 for details on how they can catch up to their competitors The Loan Handler 5 2 Training Manual Supplement User 15 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Moving Around The Program Menu Bar Shortcut Keys Click on the appropriate Menu Bar word and then select the appropriate option from the drop down list e g File Save OR Press the appropriate shortcut key which requires pressing and holding the Control lt CTRL gt or the Alternate lt ALT gt key while pressing a designated key e g lt CTRL gt lt S gt Save OR Choose any menu command with the keyboard Press ALT the l
105. i upon ab af Cash deposit toward purchase hed by List checking and savings accounts below Name and address of Bank S amp L or Credit Union Name and addrews of Bank S amp L or Credit Union g and address of Company j a Name and address of Bank 5 amp L or Credit Union Name and address of Bank 4 L or Credit Union he at Real estato owned enter market value from achedule of real estate owned e Eel aaa Pay Mce Vested interest in retirement fund Net worth of businessies owned attach financial statement Automobiles owned make and year Stocks amp Bonds Company name number amp description Life Insurance net cash value Face amount Subtotal Liquid Assets e BAN e Owed to Other Asgote itemiza Joh Rebted Expense chid care union dues ofc i e a a Se Freddie Mac 85 Rev 10 02 Fannie Mae Form 1003 Rev 10 92 Printed by The Loari Handler from Contour Software Inc 408 370 1700 2S Page VRLA The Loan Handler 5 2 Training Manual Supplement User 38 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Schedule of Real Estate Owned If additional properies are owned eee sheet Incurance Property Address enter if sold PS if pending saie Type of Amount of Gross Mortgage Maintenance oC H if rental bain held for income Nl ott _ Mart Vato sa Mortgages Liens Rental Income Pamens Taree A NA
106. ically updated for you i e F 08 11 N means Needed O means Ordered R means Re Ordered and F means Filed plus that day s date For items other than verifications the status can be updated by lt RIGHT BUTTON CLICKING gt on the field and making selections from this additional menu Access TLH press lt CTRL gt lt L gt Load Borrower or lt CLICK gt on the Open Tool Button to select a borrower for updating then Utilities Update Borrower File Choose the appropriate Folder for your first piece of mail by lt CLICKING gt on it select Verifications on the left and then the Credit Folder for Liability information Then select Tracking at the left and then Dates or Documents for those items and so on Another key aspect of this feature is the ability to easily work with the borrower s Liabilities Credit Report This is the same data that appears on pages 2 and 4 or more of the Application but here they are all listed together as one complete list which makes them a little easier to deal with Simply lt CLICK gt on the Scroll Bar to reach all the liabilities a Update Borrower Files File Edit Tracking Help C Verification Files Block Account Balance Monthly Payment Creditor s Address Employment Deposit Residence Ee Real Estate EE Credit E Tracking Files Dates EB Documents ES Appraisals Child Support Custom Fields SEARS EMPORIUM VISA VISA MASTER CARD JC PENNY TOYS R
107. impounds up front they need to enter a monthly MI amount in Field F232 Monthly MMI Payment on the Prelim Screen Taxes and Insurance Section in order for the cushion to calculate correctly The Loan Handler 5 2 Training Manual Supplement User 53 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises ESCROW DISBURSEMENT SCHEDULE Impounds Monthly MTHS Borrower Seller __ Annual Freq Due Date S e EC 8000 12 peoo 108 00 Ton 1080 00 I 1298 00 1 foao f OC 34 30 11 J 377 30 I 411 55 W i 0 01 02 aaa 136 42 g 81 252 I 1625 00 Hi 1101 02 l E SS Ee 555 44 47 74 Mtg Ins 1343 74 Mtg Ins Flood Ins Mtg Ins Hzd Ins 1672 74 Mtg Ins County Prop Tax 4 4 47 74 7 74 9 29 77A 47 74 7 74 47 74 Escrow Disbursement Schedule This is where you do enter data Enter the dollar amount that will be paid out during the month listed to the left combine those items that are paid during the same month i e Taxes of 150 and Hazard of 50 would be listed as 200 Notice that the totals in other columns are automatically calculated for you as you enter amounts into this column Initial Escrow Account Disclosure Statement Section No data entry required It is automatically determined for you To change this column change the First Payment Date near the top of the form If this is a Bi Weekly loan then this column will show the date of the payment a
108. ing any other documents that you may want at this time and print them all together as a group For ARM Loans Follow the above steps for data entry and be sure to enter the ARM data on the First Page REG Z Be sure Field F608 is filled in properly with 3 for ARM then enter the appropriate figures into the ARM Section at the bottom of this form see the sheets entitled Guide to Regulation Z Truth in Lending and Regulation Z and ARM Loans be sure that Lifetime Rate Cap as point above initial rate Field F247 is also filled in properly e g if the maximum that the Rate can go up worst case scenario with this Loan Product is 16 and the Start Rate was 10 then the correct answer for Lifetime Rate Cap is 6 calculated as 16 10 6 Access the Print Menu Mouse lt CLICK gt on the Print Tool Button Keyboard Press lt ALT gt lt F gt File and Print or press lt CTRL gt lt P3 gt Print lt CLICK gt on and select First Page REG Z and the Section 32 TIL Disclosure for printing by lt CLICKING gt on them or pressing lt SPACEBAR gt lt CLICK gt on Print or continue selecting any other documents that you may want at this time and print them all together as a group Note The First Page REG Z TIL must be printed before you print the Section 32 Disclosure since the calculations needed for this Disclosure are based on the calculations for the REG Z If you change your GFE figures be sure to repeat
109. isted here Please review your own list for the ones that apply to your operation Handler s Custom Letter feature has an unlimited capacity so feel free to add to this list as you deem appropriate see the sheets entitled Creating and or Editing Custom Letters Be sure to Print the Custom Letter entitled CUSTLIST which is a Handler provided list of all the letters included with the program 11SAMPLE An sample of Custom Letter tricks tips MBACLOSE _ Closing your Mortgage Loan 1COMMENT _ A list of all Comments in a loan file MBADEDUC Deducting Mortgage Interest under the Tax Code 1CUSFIEL A list of a borrower s answers to your Custom Fields MBAESCRO Why Mortgage Escrow Accounts MISSING A list of Missing Loan Information s MBAGLS1 A Consumer s Glossary of Mortgage Terms Sect 1STATUS1 A Status List for a loan Complete List MBAGLS2 A Consumer s Glossary of Mortgage Terms Sect II 1STATUS2 A partial Status List for a loan Pending Items MBALCK1 A Consumer s Guide for Mortgage Lock Ins Sect 1STATUS3 Another partial Status List for a loan Needed Items MBALCK2 A Consumer s Guide for Mortgage Lock Ins Sect II AMOINV Acknowledgment of receipt of Amortization Schedule MBAOBLIG Managing your Mortgage Obligations APPRCOPY Statement of right to receive copy of Appraisal MBAPRC1 Understanding the Loan Application Process Sect APPREQ Appraisal Request detailed MBAPRC2 Understanding the Loan Application Process Sect II A
110. ith you get an error message saying file name already exists how can you create your new Bob Smith file using the same last name but with an extra character in the last name Which Form from the Processing Forms Menu the Vertical Menu lets you answer Custom Questions that your company has added to TLH What command lets you Go To directly to a specific field anywhere throughout the program What do you do to pull a Missing Information Report If you want to Transfer files between Directories which Supplement sheets explains how to do it and what two words describe the location s of your files What command lets you use an on screen Calculator and paste your calculations into the borrower file How can you access ePASS Partners from within the program so you can transfer borrower data to and from other vendors associated with this loan The Loan Handler 5 2 Training Manual Supplement User 103 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises 46 To properly calculate a standard 1 Year ARM what lines do you fill in on the bottom section of REG Z 47 Where do you go to add a Co Mortgagor 48 What button can you push to toggle back and forth between the borrower file and the ePASS Business Center 49 If a vendor that you deal with doesn t already have the ability to access your borrower information electronically whom can they contact at Ellie Mae that will send them any informatio
111. ith the credit service provider 1 1 Open Create a borrower file in The Loan Handler 2 Complete the borrower co borrower first name last name address and social security number fields on the Preliminary Information Screen 3 Press the drop down arrow to the left of the Credit button on the TLH toolbar y Credit C 4 Select Order Credit Report This will open the ePASS Credit Reporting Screen 5 Double click on the service provider from which you wish to request a credit report 6 The service provider interface will display Ta FACTUAL DATA INFORMATION TECHNOLOGIES Factual Data a new ePASS Partner has been providing timely accurate credit information to the mortgage industry since 1985 Now you can send credit requests to Factual Data seamlessly from within your LOS Simply click on the Credit Report link under the list of Vendors on the Business Center home page click on Factual Data select your loan from the provided loan selection panel and ePASS automatically populates the Factual Data Credit Report Application for you Why Choose Factual Data e Factual Data is an approved direct credit provider on both Freddie Mac Loan Prospector and Fannie Mae Desktop Underwriter e Factual Data provides nationwide coverage with local customer service through a network of branch locations e Orders are delivered in seconds through ePASS Business Center ability to view and or print reports Easy to read report format wi
112. ity lt CTRL gt lt S gt Save lets you Save your work at any time as you work on file remember also that as you maneuver through the program various tasks and changes will prompt you for a Save Changes to Yes No Cancel etc The Tracking Menu allows you to quickly and easily update an item s status and or place dates into the program as needed use lt CTRL gt lt D gt Date to paste Today s Date in a proper computer format into various fields throughout the program great for posting notes in Comments and for designating the initial payment date on the of REG Z From the sheets dealing with Custom Letters Use Handler s Custom Letters These shell letters will merge borrower information already typed onto the various forms within a borrower s file into the numerous letters and documents that you create while processing a mortgage application Thank You Letters Simple Disclosures Status Reports Denial Letters etc if the letter you need doesn t already exist have the appropriate person in your operation create it for you Less typing means faster processing Do not use spaces i e my letter ltr wel come ltr thank you ltr etc or funny characters letter Itr amp welcome ltr thankyou ltr etc when creating Custom Letter computer file names The Loan Handler 5 2 Training Manual Supplement User 105 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Handler Post Training Check List page 2
113. l loan amount credited to you at settlement For example on a 50 000 loan with 2000 Prepaid Finance Charges a 30 year term and a fixed interest rate of 12 the payment would be 514 31 principal and interest Since the A P R is based on the Amount Financed 48 000 while the payment is based on the loan amount given 50 000 the A P R 12 553 is higher than the interest rate PO WHAT IS THE FINANCE CHARGE Box B above The Finance Charge is the cost of credit expressed in dollars It is the total amount of interest calculated at the interest rate over the life of the loan It includes Prepaid Finance Charges and the total amount of any required Mortgage Insurance charged over the life of the loan PO WHAT IS THE AMOUNT FINANCED Box C above The Amount Financed is the loan amount applied for minus the Prepaid Finance Charges Prepaid Finance Charges include liens paid at or before settlement Examples would be loan origination commitment or discount fees points adjusted Interest and initial Mortgage Insurance Premiums The Amount Financed is lower than the amount you applied for because it represents a NET figure If you applied for 50 000 and the Prepaid Finance Charges total 2 000 the Amount Financed would be 48 000 PO DOES THIS MEAN I WILL GET A SMALLER LOAN THAN I APPLIED FOR No If your loan is approved in the amount requested you will receive credit toward your home purchased
114. l be asked for a password only or a username and password only 9 Select the Credit Bureau s to use by checking the box next to the credit bureau name 10 Press Finish View Credit Report 1 Request a credit report for the borrower co borrower 2 Open the borrower file 3 Press the drop down arrow to the left of the Credit button on the TLH toolbar Yy Credit A 2 Order Credit Report View Credit Report Import Liabilities 4 Select View Credit Report 5 You can also view the credit report from the service provider interface Ta FACTUAL DATA INFORMATION TECHNOLS ES Factual Data a new ePASS Partner has been providing timely accurate credit information to the mortgage industry since 1985 Now you can send credit requests to Factual Data seamlessly from within your LOS Simply click on the Credit Report link under the list of vendors on the Business Center home page click on Factual Data select your loan from the provided loan selection panel and ePASS automatically populates the Factual Data Credit Report Application for you Why Choose Factual Data e Factual Data is an approved direct credit provider on both Freddie Mac Loan Prospector and Fannie Mae Desktop Underwriter e Factual Data provides nationwide coverage with local customer service through a network of branch locations e Orders are delivered in seconds through ePASS Business Center ability to view and or print reports
115. ld Lock Field Go to Field Zoom Database F Freeze K Lock G Go To Z Zoom Tracking Current Date Current Time Needed Ordered Reordered Filed Missing Information D Date T Time N Needed O Ordered R Reordered l In File M Missing Menu Bar Shortcut Keys page 2 Ctrl A Ctrl W Ctrl Y Ctrl B Bring you forward one screen Brings up the forms menu Brings up the Document List to manually add docs to current loan Brings you back one screen Ctrl F Ctrl K Ctrl G Ctrl Z Override a calculated field to freeze in your own answer or value it also changes the field color as a reminder that the field was frozen Control access and editing capability to specific fields i e Locks a field so it can t be changed later on by someone without the authority to do so Advance to a specific field in the program it advances to the very next place in the program where that field is located continue advancing to each place to check them all Access and or create a listing of available choices in a database i e Zooms into a list of Originators Appraisers Depositories Branches Print Menu Choices etc Ctrl D Ctrl T Ctrl N Ctrl O Ctrl R Ctrl Ctrl M Places today s date into the field where cursor is located Places an Current Time into the field where the cursor is located Places an N for Needed and the date in the appropriate field Places an O for O
116. lement Costs Property Address x conv ira Eva L_ ome 123 ANY STREET COLUMBIA sc 29201 mwe ANDY BRAMPEE Ome Preparation Date 01 27 00 Page 1 of 2 Compensation to Broker not paid out of Loan Proceads P 0 C Fees GFELEND2 05 87 Printed by The Loan Handler from Contour Software Ine 408 970 1700 The Loan Handler 5 2 Training Manual Supplement User 46 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Gey E N EE oS Soe FA eanas zat og Geta Pa R B be Lender Broker DEMO ONLY NOT FOR RESALE Loan Number 12734567890 Date 01 27 06 Borrower ANDY EXAMPLE Note Rate 8 125 4 ANN EXAMPLE P amp t Payment 779 62 aay GOD FAITH ESTIMATE OF SETTLEMENT CHARGES gted Below is the Good Faith Estimate of Settlement Charges made pursuant to the requirements of the Real Estata Setdement Procedures Act RESPA The form contains a standard list of many possible settlement charges These figures are estimates only and the actual charges due at setttament may differ It may be required that additional fees be paid at settlement which are not included on this form The numbers listed beside the estimates generally correspond to the numbered lines contained in the HUD 1 or HUD 1A settlement statement that you will be receiving at settlement The HUD 1 or HUD 1A settlement statement will show you the actual cast for items paid at settlement FEDERAL TRUTH AAN LENDING DISCLOSURE STATEMENT ITEMIZATION OF AMOUNT FINANCED
117. lity from the menu bar 3 The Transfer Borrower screen will display Transfer Borrower 5 O x Look in a Samples z Browse Conventional 2205 Anywhere Lane Conv arm Pure Larry New 123 Any Street Primary 123 Any Street Conventional 911 Maulberry Street Move 8889977 Processor Construction Larry Import Bill 2222 Jones Branch Drive Bill525 Carmen Kip Export An 432 Bay Street 8687642 Kathy Del Conv arm 432 Bay Street 9687642 Kathy eee Con neg am 123 Any Street 8687642 Kathy Ex c 123 Any Street 8687642 Kathy Fhaarm 123 Any Street 8687642 Kathy Exthatix 432 Bay Street Kathy An 432 Bay Street 8687642 Kathy Vafix purch 432 Bay Street 8687642 1111 Quarry Road Fhafixed Janet 77 Sunset Strip First second refi Larry presic Vacation 321 Anywhere Place 876543 Michael 816 Park Street Co mort2 123 Any Street 8889977 Cannan arn 199 Ann Chant OCOFCAA Drnnnan A gt Help uct Exit AAAA 24 borrower s found 5 Select the folder where the borrower files that you wish to transfer are located from the Look in drop down box e g Samples above 6 Select the files to transfer by holding down the lt Shift gt key and clicking on sequential files or by holding down the lt Ctrl gt key and clicking on non sequential files The Loan Handler 5 2 Training Manual Supplement User 85 05 2002 Courtesy of Mortgage Tech a
118. ly without it If necessary you are able to back date the TIL use the Calendar Tool Button and doing so affects the date printed on all the forms in the borrower file 14 Fill out 2nd Page URLA Mouse lt CLICK gt on the Forms Tool Button and then lt DOUBLE CLICK gt on URLA Page 2 Keyboard Press lt CTRL gt lt W gt Where and press lt U gt URLA Page 2 and lt ENTERP gt to access this form Verify that the fields carried over to this form Proposed Deposits Liabilities are filled out properly while adding any data that was not automatically filled in by using the short cut method i e Monthly Income information Child Support and Alimony Stock amp Bonds Personal Property etc The Loan Handler 5 2 Training Manual Supplement User 31 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Order of Data Entry page 4 15 Fill out 3rd Page URLA Mouse lt CLICK gt on the Forms Tool Button and then lt DOUBLE CLICK gt on URLA page 3 Keyboard Press lt CTRL gt lt W gt Where and press lt U gt URLA page 3 and lt ENTERP gt to access this form Verify that the fields carried over to this form Mortgage data Details of Transaction are filled out properly while adding any data that was not automatically filled in by using the short cut method i e Additional Names under which Refinance Amount Declarations etc 16 Fill out the many other forms available to you Comments Loan Submission Transmit
119. m Example 1 of 3 EXCONARM 1 Sekai Gesca Address http www epassbusinesscenter com index asp GV 05 20 0108EV 1 CID S099008UID mindy insi_ E Populate Form Support Products Updates My ePASS ePASS Business Center 3 00 Single Rates amp Indices Partners amp Promotions Training Center Business Services Contour Update Notification A Bank of America A Bankof America Flagstar Bank The Loan Handler 5 2 Build 20 is now available This update includes enhancements GN Mortgage gt GreenPoint Mortgage HomeSide gt Impac Lending New Century Mortgage Saxon Mortgage gt WMC Direct gt Full Lender List gt Fannie Mae gt Freddie Mac PMI Contract Underwriting GE AU Central Credit Reporting Document Preparation gt Title amp Closing Flood Certification Mortgage Insurance Appraisal Services Mortgage Signing AVM gt Tax Services Fraud Audit Services Additional Services and fixes to TLH 5 2 Build 10 Click on Start Programs TLH 5 2 Server Updates to download this release you need to have 5 2 Build 10 installed in order to apply this update Click here for more information and release notes New ePASS users click here ePASS Business Center News e 3 00 pre qual single bureau credit reports from First American FREE Flood Certs for One Day Up to 1 50 off interest rate with New Century Mortgage
120. many other sites A Master Menu on the WWW Icon A small picture or graphic display of a software program or application in Windows In Windows you activate programs or applications by pointing your mouse your cursor on an icon or command and clicking your mouse buttons In File Credit Report The brief credit report that gives you a quick look at a borrower s credit history a prequal report The Loan Handler 5 2 Training Manual Supplement User 9 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Computer Terminology page 2 Internet Information Super Highway A network of many computers Servers that provides access to many many other computers Servers and sources of information A non centralized system of computers Servers Link The ability of two 2 different computer software programs to talk or communicate with each other for the purposes of sharing or transferring data or borrower information Login To log onto and gain access to a network computer system e mail system or Web Page Logout To log off of a system recommended before you turn off your work station on a network Main Frame Computer Terminal Server A large computer system that can have a number of terminals or users yet it is different from either a PC or a PC based Network Computer System It consists of the Main Frame Processing Unit itself and a number of dumb terminals all connected by cabling phone or data lines Main Scr
121. me in sequence Mouse Keyboard 4 How can you move some Where else in the program from one Form to another out of sequence Mouse Keyboard 5 How can you Load a different borrower file even when you are in the middle of someone else s borrower file Mouse Keyboard 6 How can you Save your data as you work on a borrower s file Mouse Keyboard 7 How can you access Support or Help Information that can be read on screen The Loan Handler 5 2 Training Manual Supplement User 99 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises 8 Howcan you access the Print menu from just about anywhere in the program Mouse Keyboard 9 Which Keystroke Tags a selection for Printing 10 What Keystroke s are used to Tag select and Print JUST the 2nd Page 1003 so you don t waste paper Mouse Keyboard 11 What sheets in this Training Supplement details the Shortcut Method for Data Entry in this program 12 Which keystroke allows you to Restore a field that you have erased by accident provided you notice it right then 13 How can you access the various Databases within the program Mouse Keyboard 14 What does Handler call our Word Processor Forms i e simple or generic letters that can be edited 15 Where do you go to enter notes in a borrower file 16 What keystroke s allow you to move to the very Top or Bottom of a Form Mouse Keyboard 1
122. me techniques as above to fill out as many VOL s as you need Remember to access your Creditor database keep in mind that you do not need to fill in every detail about a creditor a list with VISA Master Card American Express etc will suffice in many cases Fill out each verif needed by advancing to the next one there s no limit to the of VOL s Most people will have used the automatic posting capability provided by ePASS partners as discussed in step 5 since your goal should be to type information only one time All of the data that you enter on these verifications will be transferred BACK to your mortgage application These steps eliminate the need to fill out BOTH the application AND the verifications AND it eliminates the need to enter any information at all on the Continuation Page 4th Page URLA since the program knows what fits on the first three pages and anything that doesn t is automatically transferred for you Notice that 4th Page URLA is not even listed as a form on our Processing Forms Menu but of course can be printed even if it is blank 11 Optional Fill out the Aggregate Analysis if desired for disclosure on your Good Faith Estimate see the sheets entitled Using the HUD 1ES Form Aggregate Analysis Worksheet Mouse lt CLICK gt on the Forms Tool Button and then lt DOUBLE CLICK gt on HUD1ES Keyboard Press lt CTRL gt lt W gt Where and press lt H gt Hud1ES lt ENTER3 to access this form This form is not
123. mount fields and to suppress recalculation The Loan Handler 5 2 Training Manual Supplement User Field X4 You must type in Y or N based on the state s classification Field F386 Allowable Closing Costs is an area of contention so we provide the ability to edit the Fees and Charges that affect this amount you can edit the Screen labeled APRSET APR FHA Settings found in the Forms Directory Fees and Charges that are NOT currently included are Tax Service Commitment Fee Application Fee Upfront MIP and Origination Fee due Broker 48 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises FHA Loan Amount Worksheet Refinance Loans Only Based on changes made on FHA loans The Loan Handler now has a new form called the FHA Loan Amount Worksheet which has replaced the former Streamline Refinance Worksheet A Streamline Refinance This new form calculates the MIP Refund as long as original loan information is filled in properly It also handles the financing of closing costs for Streamlines a little bit differently than a Standard Refinance Streamline Refinances cannot include Credit Report or Appraisal Fees as financed items Cash Out Refinances Previously the Costs of Repairs Field was a switch for using the 85 Rule for Cash Out Loan Scenarios This was replaced with the question Cash Out Y N to allow for the handling of these situations without repairs as well as cases that ma
124. mp Seshco Enterprises Export Borrower Files Use EXPORT to copy borrower files from the Loans folder or a Loans subfolder to any directory inside or outside of the Loans folder A copy of each exported file will then be stored in both the source folder and the destination folder 1 Press Export to copy borrower files from the selected loans folder to another folder The Copy to screen will display xl Directories a Ey I Contour a T Create I Loans EJ Samples C DOFE Cancel d 8 Select the folder to copy the selected borrower files to e g CREDIT above 9 Press Export to copy the files from C Contour TLHdata Loans Samples to C Contour TLHdata Loans Credit A copy of the file is now stored in each location Move borrower files Use MOVE to move borrower files from one Loans sub folder to another Loans sub folder The file s are then stored in the destination folder only 1 Press Move to move borrower files from the selected folder e g C Contour TLHdata Loans Samples above to a new location The Move to screen will display Te 6 6h hl To C Loans Samples Cancel Closed02 Backup Help Closed00 E Closed01 3 Select the folder to move the selected borrower files to e g C Contour TLHdata Loans Closed02 4 Press OK to move the borrower files The selected files are now stored in the User 1 folder only The Loan Handler 5 2 Training Manual Supplemen
125. mple com Business Information Type License Sample License Inv Code pe See Fees e List of Providers Information Relation E SE Service DO O i y Item ID H Miscellaneous Comments Sample Comments Update Cancel 6 Enter the updated information press Update 7 The updated record is now listed in the vendor database The Loan Handler 5 2 Training Manual Supplement User 26 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises PROCESSING INFORMATION SHEETS Miscellaneous Data Entry Topics This topic cover things that you just need to know and may not be available in your other notes so please keep it handy for your day to day use of the program If you just can t understand how something works check these pages to see if your subject might be one of the ones listed below Taxes amp Insurance Table Impound Account Settings If you use the section of the Prelim Information Form that is called Taxes amp Insurance Table Impound Account Settings near the top middle of the form then consider whether you want to use the Annual Factors column the first column in this section which calculates estimates based on percentages The Factor Column takes a factor i e 35 for Hazard Insurance and multiplies it by the Loan Amount i e 100000 and it produces a Yearly Total which when divided by 12 months equals a monthly amount and when you enter the Number of Months i e 2 then equals the amount of your
126. n 50 Who is your Ellie Mae Representative and what is their phone number The Loan Handler 5 2 Training Manual Supplement User 104 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises HANDLER POST TRAINING CHECK LIST Please review the list below to ensure that you and your staff are utilizing all of the features available to you in the Handler System The more features you take advantage of the more productive you will be As you know many aspects about the program were discussed during your initial training session s so it is not uncommon to forget or overlook some of the features and tips that were covered especially when the everyday goal is get the loan closed Many mortgage professionals are so concerned with completing the Application and doing the basics that they don t use many of the advanced features designed to make their jobs easier Here are reminders of items we know you ll want to use every day From the sheets entitled Cursor Movement Keys lt TAB gt lt SHIFT gt lt TAB gt move quickly forward backward to the next major section or group to group lt CTRL gt lt HOMEs gt lt CTRL gt lt END gt move to the first last field on a form lt CTRL gt lt PAGE UP gt lt CTRL gt lt PAGE DOWN gt move forward backward approx ten 10 fields at a time as opposed to twenty 20 fields at a time by just using lt PAGE UP gt lt PAGE DOWNs by itself lt ESC gt Escape allows you to restore da
127. n for action taken that would be other SECT IV If another outside source besides a Credit Reporting Agency was involved list company address city state zip phone USE 4 LINES ONE FOR EACH ITEM The information above is actually a Print Screen from The Loan Handlers Comment Form Page 6 It is designed to work in conjunction with a Custom Letter entitled Idenialb ltr Many loan applications are denied for different reasons based on each borrower s individual situation and this Custom Letter provides you with a means for explaining each denial scenario The above Print Screen should be used as a template for your system s Comment Forms Access EACH Default File in The Loan Handler see the sheet entitled Creating and or Editing Default Files and replicate the template as it shown above You should have at least three 3 Default Files CONV FHA and VA but some of you will have more depending on how much customization has been done with your system Regardless of the number of Default Files you have each one should reflect the same Comment Form template so that each denial situation will work with the same Denial Letter Note that we have specified the use of COMMENT FORM 6 since this leaves the first five 5 Comment Forms open for your own use We urge you to copy the above template word for word since it carefully explains how to create a valid Denial Letter Be careful to follow the exact pattern shown line by line
128. name from the list and enter the borrower data as needed Notice that the list includes Forms for specific companies in addition to normal Government Agency Forms or Handler Forms Forms from Lenders Investors MI Companies Appraisers etc 2 The Print Menu the Box Menu This menu gives you the ability to print the Forms that you have filled out from the Processing Forms Menu 3 The ePASS Menu Bottom Left Corner This menu gives you access to the two hundred plus ePASS Partners via the Internet The next three pages show screen captures of these three menus and are an example of what these menus look like The Loan Handler 5 2 Training Manual Supplement User 12 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Tu The Loan Handler Preliminary Information Screen iej x File Edit View Field Tracking Utilities Help 2 28 6 New Open Save Print 2 ePASS Credit Comments Doc List Zoom Borrower KA An Example 1 of 1 EXREOWN 1 z eizi Conventional Documents pop i Preliminary Information Screen Vendor Information URLA Page 1 URLA Page 2 URLA Page 3 Employment Schedule Deposit Schedule R E Owned Schedule Liabilities Schedule Residence Schedule Securities Schedule RegZ Page 1 Truth in Lending i GFE ltemization of Amount Financed i TSUM FNMA 1008 Uniform Underwriting And Transmittal i Loan Submission EMDPlus Preliminary Screen Page 1
129. nce 1985 Now you can send credit requests to Factual Data seamlessly from within your LOS Simply click on the Credit Report link under the list of Vendors on the Business Center home page click on Factual Data select your loan from the provided loan selection panel and ePASS automatically populates the Factual Data Credit Report Application for you Why Choose Factual Data e Factual Data is an approved direct credit provider on both Freddie Mac Loan Prospector and Fannie Mae Desktop Underwriter Factual Data provides nationwide coverage with local customer service through a network of branch locations e Orders are delivered in seconds through ePASS Business Center ability to view and or print reports e Easy to read report format with customization available Existing Factual Data Clients OR New Clients e Request Credit Report e Get Set Up with Factual Data After getting set up with Factual Data click here Follow this link for instructions on how to pull to Request Credit Reports credit reports via ePASS e iew Credit Report View an already downloaded Credit Report 6 Follow the service provider s instructions for setting up an account These instructions will vary for each service provider The Loan Handler 5 2 Training Manual Supplement User 82 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Request a Credit Report Before you can request a credit report you must have an account established w
130. nces provided Unable to verify residence No credit file Limited credit experience Poor credit performance with us Unable to verify credit references Temporary or irregular employment Unable to verify employment ___ Length of employment _ Delinquent past or present credit obligations with others __ Income insufficient for amount of credit requested __ Garnishment attachment foreclosure repossession collection action or judgment ___ Excessive obligations in relation to income __ Bankruptcy ___ Unable to verify income Value or type of collateral not sufficient Other specify WE DO NOT LOAN FUNDS TO PEOPLE IN YOUR LINE OF WORK HIGH RISK OCCUPATION Part II Disclosure of Use of Information Obtained From an Outside Source This section should be completed if the credit decision was based in whole or in part on information that has been obtained from an outside source ___ Our credit decision was based in whole or in part on information obtained in a report from the consumer reporting agency listed below You have a right under the Fair Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency The reporting agency played no part in our decision and is unable to supply specific reasons why we denied the credit to you Name EXAMPLE CREDIT BUREAU Address 5300 DEVINE STREET City State Zip COLUMBIA SC 29025 Telephone 803 256 9000 ___ Our credit decision was based in whole or in part
131. nd not the name of the month Escrow Balance No data entry required It is automatically determined for you The Loan Handler 5 2 Training Manual Supplement User 54 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Section 32 Disclosure High Cost Mortgages Section 32 loan scenarios are normally B C and D Credit Loans but this is not always the case Select the appropriate borrower file from the Borrower Directory and fill in the necessary documents as needed at a minimum fill out the GFE or Second Page REG Z the First Page REG Z and the Section 32 Test On the Section 32 Test Form Field X1 Treasury Security Yield is obtainable from your Lender Investor and is usually adjusted monthly Field X48 Total amount of Points and Fees applicable is auto calculated for your based on the Y N fields in the right hand column for each possible Fee and Charge X50 Enter minimum figure for is also obtainable from the Lender Investor and is usually adjusted yearly in 2000 the amount is 451 Fields X2 X49 and F51 will also auto calculate based on the other entries Access the Print Menu Mouse lt CLICK gt on the Print Tool Button Keyboard Press lt ALT gt lt F gt File and Print or press lt CTRL gt lt P gt Print lt CLICK gt on and select First Page REG Z and the Section 32 TIL Disclosure for printing by lt CLICKING gt on them or pressing lt SPACEBAR gt lt CLICK gt on Print or continue select
132. ndor Information Form lt CTRL gt lt A gt Ahead 4 Fill out the 1st Page URLA does Residence Schedule amp Employment Schedule lt CTRL gt lt W gt Where 5 Fill out the remaining data in the Employment Schedule lt CTRL gt lt W gt Where 6 Fill out the remaining data in the Residence Schedule lt CLICK gt on the ePASS Tool Button 7 Access ePASS lt CLICK gt on the Exit icon and then lt CTRL gt lt W gt Where To access your ePass interfaces to Credit Bureaus MI Companies Appraisers Flood Title etc 8 Fill out the Deposit Schedule lt CTRL gt lt W gt Where 9 Fill out the R E Owned Schedule lt CTRL gt lt W gt Where 10 Fill out the Liabilities Schedule use your ePASS for this task lt CTRL gt lt W gt Where 11 Fill out the Aggregate Analysis Form Optional lt CTRL gt lt W gt Where 12 Fill out the Good Faith Estimate or the Second Page REG Z lt CTRL gt lt W gt Where 13 Fill out the First Page REG Z Truth in Lending lt CTRL gt lt W gt Where 14 Fill out the 2nd Page URLA lt CTRL gt lt A gt Ahead 15 Fill out the 3rd Page URLA lt CTRL gt lt W gt Where 16 Fill out Comments Loan Submission Transmittal Summary Conditions List Tracking Information Form Custom Fields Agency Forms Lender Investor Forms MI Forms Appraisal Forms Environmental Report Forms Title Forms Flood Forms etc lt CTRL gt lt P gt Print 17 Print your documents The Loan Handler
133. next arrow to go t Previous Next forward one page x Stop Press this button to stop a page from loading The Loan Handler 5 2 Training Manual Supplement User 80 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Press this button to reload the current page This will update the page or Refresh message list with current information W re Home Press this button to go to the ePASS home page B Print Press this button to print the current page B Change Password Press this button to change your ePASS password frl Press this button to populate the current form with information from the Populate Form borrower file E Populate Form Accessing Service Providers IMPORTANT You must be connected to the Internet to use ePASS To access a Service Provider click on the Service Provider or category name from the list of links on the left side of the ePASS Home Fag e mu The Loan Handler ePASS Business Center E E laj xj File Edit View Field Tracking Utilities Help 0 Z 39 8e H y y ePASS Credit Comments Doc List Zoom New Open Save Print Previous Forms Next Borrower KA Conv arm Example 1 of 3 EXCONARM 1 akk Address hip www epassbusinesscenter com index asp GV 05 20 010EV 1 38CID 3098008U1D mindytinsi 7 Support Products Updates My ePASS FY Populate Form 2PASS Business Center 3 00 Single Rates amp Indic
134. now included in the Vendor Database The Loan Handler 5 2 Training Manual Supplement User 25 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Edit Vendor There are two ways to edit an existing record in he vendor database Auto Update and Add Vendor Auto Update Any time you enter information for a vendor whose company name matches that of an existing record the message will appear Note that the address for the modified vendor differs from the address for the matching vendor e To update the existing record to the address shown for the modified vendor press Update e To Add the modified vendor as another record to the Vendor database press Add To turn off the Auto Update feature check the box at the bottom of the Add Vendor Screen circled in the example above Edit Vendor To edit an existing vendor record from the Vendor Database screen 1 Go to any vendor field on the Vendor Information Screen or any verif and Zoom in to the Vendor Database by pressing lt Cirl Z gt or other method 2 Select the Vendor Type from the drop down list 3 Search to locate the specific vendor record 4 Highlight the vendor record and press Edit 5 The Edit Vendor screen will display Mailing Information Name E ample Escrow Attamey Vendor Attention Sample Attention Address 123 Sample Address City Sample City State SA Zip 99999 9999 Contact Information Phone 999 999 3999 Fax 399 999 9999 Email fsample sa
135. ntrolling Escrow Limits when preparing an initial Escrow Account Statement To fill out the Aggregate Analysis Mouse lt CLICK gt on the Forms Tool Button and then lt DOUBLE CLICK gt on HUD1ES Keyboard Press lt CTRL gt lt W gt Where and press lt H gt HUD1ES and lt ENTER 3 to access this form The Name and Address P amp I and First Payment Date info should already be filled out for you since the Preliminary Information Application and REG Z should have already been filled out Answer Y or N for the Bi Weekly question and fill in whether a Cushion is Required The Maximum Cushion amount allowed is one sixth of the estimated total of annual payments 2 months or twice the figured calculated in the field for monthly payment to the Escrow Account it s four times the figure if it s a Bi Weekly loan If the Cushion entered is larger than allowed for this loan scenario the program will automatically adjust this figure to the maximum for you To have it calculate the Maximum Cushion for you enter an obliviously high amount i e 9999 and it will return the maximum If no Cushion is entered then the Escrow Account Balance is automatically calculated to reflect a Zero 0 balance at the lowest point during the year you ll see a Zero 0 in the right hand column during one of the months calculated by the schedule The cushion cannot be entered until after ALL disbursements are entered On FHA loans even if they will not be collecting any
136. o Enterprises Miscellaneous Data Entry Topics page 2 Deposit Information 2nd Page URLA This information comes directly from the VOD s see the notes entitled Order of Data Entry and aren t shown on this page Enter as many VOD s and accounts as needed for your files since there is no limit to the number of VOD s VOE s VOM s VOL s VOR s and Comment Pages You can have as many as needed even though there is only room for four 4 Depositories on the 2nd Page URLA Any more than four 4 will automatically appear on the Continuation Page s REMEMBER Please use the lt CTRL gt lt Z gt Zoom feature when describing the Account Type s since these are the acceptable terms used by Freddie and Fannie for their Automating Underwriting system and special codes are associated with these selections Schedule of Real Estate 3rd Page URLA This information is also governed by a question on the top of page 3 of the 1003 by a General Questions Automatically Transfer Information From The VOM s to the URLA If the question is answered N or left blank you will be able to type directly on the 3 Page URLA We suggest using Y since it s quicker to create as many VOM s as are needed with lt CTRL gt lt A gt Ahead and keep on going since the number is unlimited even though there is only room for three 3 properties on the 3rd Page URLA If there are more than three 3 properties listed a message will appear saying Se
137. olumn Keyboard At the Master Menu select lt ALT gt lt F gt File and then lt O gt Open or just press lt ENTER gt with Open highlighted or press lt CTRL gt lt L gt Load Borrower and select the existing File 1GFE Template in the Borrower Name column or 1GFE 1 in the File Name Column 2 Fill out the Good Faith Estimate or Second Page REG Z Mouse lt CLICK gt on the Forms Tool Button and then lt DOUBLE CLICK gt on Good Faith Estimate Keyboard Press lt CTRL gt lt W gt Where and press lt G gt Good Faith Estimate and lt ENTER gt to access the form or Mouse lt CLICK gt on the Forms Tool Button and then lt DOUBLE CLICK gt on Second Page REG Z Keyboard Press lt CTRL gt lt W gt Where and press lt G gt GFE Itemization of Amount Financed and lt ENTER gt to access the form Enter the Fees and Charges for the Loan Product you re quoting and keep in mind that the items at the top of the Second Page REG Z form are the items that will affect the APR Don t add any Fees to this section that should not affect the APR use the extra fields in the other sections for that purpose If desired specify Seller Paid Costs some Originators like to specify a single lump sum amount for Total Seller Paid Costs If so use GFE Extra Line HUD 1308 for this entry F55 which then carries down to the Total Seller Paid and is correctly displayed on the an Page URLA in the Details of Transaction section 3 Ifa TIL is desired then also
138. on information obtained from an outside source other than a credit reporting agency Under the Fair Credit Reporting Act you have a right to make a written request no later than 60 days after you receive this notice for disclosure of the nature of this information If you have any questions regarding this notice you should contact Creditor s Name JC PENNY S Creditor s Address 100 FORT WORTH BLVD DALLAS TX 24004 Creditor s Telephone 214 250 0900 The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race color religion national origin sex marital status age provided that the applicant has the capacity to Enter into a binding contract because all or part of the applicant s income derives from any public assistance program or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act The Federal Agency that administers compliance with this law concerning this creditor is The Federal Deposit Insurance Corporation Suite 1600 One Atlantic Center 1201 West Peachtree St NE Atlanta GA 30309 3449 404 817 1300 If you are not governed by the FDIC be sure to change the above name and address as necessary in the Custom Letter itself By Authorized Signature The Loan Handler 5 2 Training Manual Supplement User 75 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises COMMENT FORM TEMPLATE FOR CUSTOM DENIAL L
139. orrower files for accuracy and compliance They match up borrower information data and guidelines rules and interpret them as a means of making underwriting decisions with computers Calculated Field A field that is automatically calculated i e the math is automatic by the program DOS Disk Operating System The PC based software program that some computers use to operate all the other software programs loaded onto the computer including Ellie Mae Software DOS Command Prompt The most common beginning point on a computer using DOS seen as C gt ona PC on a network it is usually seen as F gt also known as the Root Directory Prompt C Prompt The most common beginning point on a stand alone PC using DOS seen as C s it could be D E etc also known as the PC s Root Directory Prompt F Prompt The most common beginning point on a network system using DOS seen as F gt it could be G H Z etc also known as the Network s Root Directory Prompt Default A computer term that simply means the software provides an answer for that field one that was pre answered in Handler you are always able to overwrite a defaulted field on a borrower by borrower basis Dialog Box A Box or Mini Window that appears with questions choices or messages as you make selections and navigate through software programs that run in the Windows environment Downloading Transferring information from one computer system to anothe
140. osoft Excel etc Within a FORM lt ENTER gt move forward one 1 field at a time lt SHIFT gt lt ENTER gt move backward one 1 field at a time lt PAGE UP gt lt PAGE DOWNs move forward backward approx twenty 20 fields at a time lt TAB gt lt SHIFT gt lt TAB gt move quickly forward backward to the next major section or from group to group lt CTRL gt lt HOMEs gt lt CTRL gt lt ENDs gt move to the first last field on a form Within a FIELD lt LEFT ARROW gt lt RIGHT ARROWS move left right one 1 character at a time lt CTRL gt lt LEFT ARROW gt lt CTRL gt lt RIGHT ARROWS move left right one 1 word at a time lt BACK SPACE gt move to the left AND erase one 1 character at a time while pulling over all characters to the right lt DEL gt deletes one 1 character at a time AND pulls over all characters to the right lt ESC gt will Restore the data in a field if you have typed over or erased something by accident CAUTION this ONLY works if you have not advanced past the field that you want to restore i e once you move on to the next field the system can NO LONGER resiore the previously erased item it accepts the field as is and moves on Miscellaneous Windows programs can be operated with a Mouse Simply move the Pointer Insertion Point to the desired place or field and lt CLICK gt the appropriate Mouse Button to move to that spot or activate a selection or f
141. ou have each one should reflect the same Comment Form template so that each denial situation will work with the same Denial Letter Note that we have specified the use of COMMENT FORM 6 since this leaves the first five 5 Comment Forms open for your own use We urge you to copy the above template word for word since it carefully explains how to create a valid Denial Letter Be careful to follow the exact pattern shown line by line since certain lines corresponds with a specific spot within the Custom Letter As an option this same idea can be created using Custom Fields see the sheets entitled Creating Custom Fields The Loan Handler 5 2 Training Manual Supplement User 76 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises ldenialb 1ltr NOTIFICATION AND STATEMENT OF REASON S FOR CREDIT DENIAL TERMINATION OR CHANGE Applicant Name s ANDY EXAMPLE and ANN EXAMPLE Applicant Address 432 BAY STREET YOUR CITY ST 99009 I DESCRIPTION OF ACCOUNT TRANSFER OR REQUESTED CREDIT __ Application for new credit __ Request for credit on retail installment contract __ Application for new credit line __ Increase on existing credit line II DESCRIPTION OF ADVERSE ACTION TAKEN __ We regret that we cannot approve your application at this time __ We regret that we cannot increase the amount of your credit line at this time __ It was necessary to modify your loan request for __ Amount 95000 00 __ Terms FIXED PAYMENT 125 PER MONTH
142. our borrower database When the list of borrower files appears press OK The Word Link lt New File gt screen appears Word Link lt new_file gt E Oj x File To generate the DAT file click on the Generate DAT button To exit Wordlink select the Exit menu choice Use the Remove button to remove the currently highlighted Field Use the Edit button to change the currently highlighted Field Use the Add button to add a new Field to the end of the list Add a Field Edit 4 Field Remove a Field Generate DAT 6 To select the borrower fields to merge press Add a Field The Borrower Field Screen appears The Loan Handler 5 2 Training Manual Supplement User 90 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises w Borrower Field xi Please enter or edit the field listed in the text box Click on the Browse button to get a complete list of borrower fields available When done to save the changes click the OK button Otherwise click the Cancel button O O O i y O Browse OK Cancel 7 Enter the field number or click Browse to open the Find Field screen iM ox Text amp Location Find Now Search Text floan amount Text Matching Contains the search text n _NewSearch Fields to Search TLH Fields If 2nd Original Loan Amount Of 1st Loan Amount Excluding Pmi Mip Or Funding Fee Hazard Insurance As Of Loan Amount Flood Insurance As Of Loan Amount
143. ovide different styles You may also want to print some Custom Letters Welcome Letter GFE Cover Letter TIL Cover Letter ECOA Letter Credit Authorization etc Use the button to access the individual items within each category Mouse While on an appropriate category lt CLICK gt on to access the list for that category then lt CLICK gt on the individual items that you want to select for printing use the Scroll Bar if necessary Keyboard Press while on an appropriate listing to access that listing then press lt Tab gt and lt SPACEBAR gt on the individual items that you want to select for printing Please review the GFE before you Hand Fax or Mail it out this Template File is almost always a little different for every Lead or Prospect so be sure it is correct before distribution Or make multiple GFE Template Files i e 1GFEARM 1 1GFEFIX 1 1GFEREFI 1 1GFEFHA 1 1GFEPURC 1 1GFEB 1 1GFEC 1 1GFED 1 etc and thereby have more choices when you deal with Prospects We recommend having a directory structure of something along the lines of C HANDLER ACTIVE to hold loans that are current and are actively being processed C HANDLER PROSPECTS to hold rate shoppers prospects etc amp files that aren t being processed C HANDLER CLOSED939 to hold files that were processed and Closed Denied Withdrawn Rejected etc C HANDLER CLOSEDO0 to hold files that were processed and Closed Denied Withdrawn Rejected etc
144. phone Newer rere ee ard ve Ae VELA The Loan Handler 5 2 Training Manual Supplement User 39 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Continuation Sheet Residential Loan Application Ue this continuation aheat if you Need more space to complete the Residential Luan Application Mark B for Borroweror C for CoBorrower fase H or So lo ort oe B wga eke N These Prass Ate eteat ead asko mak cally when virg dhe Sheek Gut Wethids We ful iy understand thatit ea Federal crime punishable by fine or imprizonmnent er beth to knowingly make falso statements concert of the above facts ae applicable under the provisions of Thie 18 United States Code Section 1005 et teg Cn at Bape Freddie Mac 65 Rav 10 92 Addendum ta 1003 Fannie Maa Form 1003 Rew 10 82 Amended Printed by The Loan Handler from Contour Software inc 408 370 1700 GaP Wace ane co Paa sy bere The Loan Handler 5 2 Training Manual Supplement User 40 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises GFE SHORT CUT This is how to use TLH when you just want a Good Faith Estimate and or TIL for Prospects or obvious Rate Shoppers 1 Create a New Borrower File in a directory for just Leads see the sheet entitled Creating a Borrower File and Borrower File Directory If it later becomes an Active loan then the file can be moved to a directory for Active loans Mouse lt CLICK gt on the Open Tool Button a File Folder
145. r i e receiving information from the Internet on your computer Dumb Terminal A user site on a Main Frame Computer System Terminal Server or Citrix environment it consists of just a keyboard and a monitor no Hard Drive Electronic Commerce e commerce The exchange of borrower data between a computer at one company i e Mortgage Company and another company i e Credit Bureau MI Company or Lender via the Internet or World Wide Web The ability to quickly and accurately transfer information without having to Fax or re type data E Mail A method of electronic communication whereby people can receive read print return or send messages i e mail to other people or other mail boxes via the Internet ePASS The Ellie Mae system which allows the exchange of borrower data between a computer at one company i e Mortgage Company and another company i e Credit Bureau MI Company or Lender The ability to quickly and accurately transfer information without having to Fax or re type data ePASS Partner A company that uses software that can import export information between itself and Handler users File Server The central main computer or processing unit of a network computer system i e the brains of the system where most of the data is normally stored Home Page An address on the World Wide Web A site or location that contains information and links to other sources of information that people can access from
146. r Bob Smith has the File Name SMITH B and you tried to create another SMITH B the system will alert you to the fact that the file already exists and it won t let you create two files using the same computer File Name Since the directory already has one SMITH B any additional SMITH B s would need to appear as SMITH2 B SMITH3 B SMITH4 B etc This only comes into play when the first initial happens to match an existing file with same first initial and the same last name For the SMITH example if the new file is SMITH B and there was no file already called SMITH B then the program would not give you an Error Message Normally you will have multiple files named SMITH i e SMITH A SMITH B SMITH C SMITH D SMITH E etc but only a few that are exact duplicates Be sure to use the Duplicate button when creating exact copies of existing files i e for a 2nd mortgage or a Refi Auto Numbering see the TLH Manual may be the recommended method for those companies with multiple branches and or off site Originators since it helps eliminate the possibility of duplicate computer File Names and or overwriting files when transferring files i e to from diskette and or different directories if so step 2 above is slightly different The Loan Handler 5 2 Training Manual Supplement User 22 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises How To Use Vendor Databases Use the Loan Handler s Vendor Database to store contact information
147. rance Homeowners Association Dues Second Principal and Interest Other TOTAL MONTHLY PAYMENT P designates compensation to Broker not paid out of Loan Proceeds 1001 1002 1004 1006 1007 1008 1009 Hazard Insurance impounds A Mortgage Insurance Impounds Proparty Tax Impounds Flood Insurance impounds D a G h G p p Aggregate Analysis Adjustment Setdement or Closing Fea Document Preparation Fee Notary Fea Attorney Fea Title Insurance Premium Endorsement Fee Title Binder Recording Fee City County tax stamps State tax stamps Survey Termite Inspection Property inspection Photo Fea Lump Sum Seller Paid Total Purchase Price Existing Payoff Estimated Closing Costs Estimated Prepaid Items Reserves Total Paid items amp Subordinate Financing __120000 00 re Seller Paid Closing Costs 1500 00 4704 50 2175 51 FHA UFMIP VA Funding Fee Basa Loan Amount TOTAL ESTIMATED FUNDS NEEDED TO CLOSE 105000 00 20380 01 These estimates are provided pursuant to the Real Estate Settlement Procedures Act of 1974 as amended RESPA Additional information can be found in the HUD Special Information Booklet which is to be provided to you by your Mortgage Broker or lender if your application is to purchase residential real property and the lender will take a first lien on the property The undersigned acknowledges receipt of a copy of the Special Information Booklet Settlement Costs
148. rd DeskScan software version 2 0 or greater should you want to implement the ADF feature You can find The Image Option in the Utilities menu then select The Image Option Imaging Option File Open Image New Image Save Image Exit The Loan Handler 5 2 Training Manual Supplement User 95 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises HOW TO PRESENT SUGGESTIONS TO ELLIE MAE SOFTWARE Thank you in advance for taking the time to make suggestions on improving our software As you know from previous discussions creating software is an ongoing process of constant evolution and this is especially true of industry specific software In fact the mortgage industry is even more susceptible due to the involvement of numerous government agencies Please Note In some case we receive suggestions from Ellie Mae users that are already part of the software program In order to ensure that your time is spent wisely please call Tech Support before you take the time to write down your suggestion In some instances Tech Support will be able to show you a way to accomplish what you desire since the various Ellie Mae programs are very robust versatile and flexible However even if Tech Support can show you a trick or shortcut you may still have a better way of accomplishing the same result In this case we would then encourage you to describe the idea and fax or e mail it in to us for review Some of the products you currently use are
149. rdered and the date in the appropriate field Places an R for Reordered and the date in the appropriate field Places an F for Filed and the date in the appropriate field Brings up the Missing Information Report The Loan Handler 5 2 Training Manual Supplement User 17 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Utilities ePASS Business Center Amortization Schedule Borrower Comments Conditions List Custom Letters Ellie Mae Docs Plus IMX Exchange Liability Import Borrower Recap Report The Imaging Option Update Borrower File Direct Word Interface Print All Verifications Borrower Quick Update Web Reporter Batch Word Interface Word Data Merge Export CIS Borrower Import Fannie Mae DU 3 0 File Import Transfer Borrower Utility Zipcode Database Maintenance Help Contents Field Technical Support Contour on the Web About the Program Ctrl H Ctrl H The Loan Handler 5 2 Training Manual Supplement User Menu Bar Shortcut Keys page 3 Access Field Specific Help Information 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Toolbar Shortcut Keys Tu The Loan Handler 203k Rehabilitation Inspection Report File Edit View Field Tracking Utilities Help 2 a8 e Ay New Open Save Print Previous Forms Next 2 a ePASS Credit Comments Doc List Zoom 4 2 3 4 5 6 7 8 9 10 11 12 Button Label Shortcut Key s Description from left to right ove to Next
150. ree 3 Months Bank Statements R 06 19 O 06 12 Rental Agreement for Rental Property N Purchase Agreement Sales Contract R 06 19 O 06 12 Amendment to Contract R 06 19 O 06 12 Termite Report Clearance N Divorce Certification Papers F 06 21 R 06 19 O 06 12 Bankruptcy Certification Papers R 06 19 O 06 12 Bankruptcy Certification Schedules R 06 19 O 06 12 Homeowners Insurance Policy N VOE 1 E CAROLINA UNIVERSITY O 06 12 VOE 2 DUKE POWER AND LIGHT F 06 16 O 06 12 VOE 3 CENTRAL HOSPITAL R 06 19 O 06 12 VOD 1 FIRST NATIONAL BANK O 06 12 VOD 2 FEDERAL SAVINGS amp LOAN R 06 19 O 06 12 VOD 3 EAST BAY BANK amp TRUST N VOM 1 HOMEOWNERS MORTGAGE R 06 19 O 06 12 VOM 2 COUNTRYWIDE FUNDING F 06 21 O 06 12 VOM 3 CHASE MORTGAGE F 06 24 R 06 19 O 06 12 The Loan Handler 5 2 Training Manual Supplement User 70 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises lstatus2 ltr BORROWER STATUS LIST Excludes Filed Items Borrower s Name JIM EXAMPLE Co Borrower Name JANE EXAMPLE Property Address 123 ANY STREET CHARLOTTE NC 28201 Loan Originator BOB JONES Printing Date 06 26 99 The following is a partial listing of all items needed for this borrower as of the above date This is the date that this status sheet s was printed so keep in mind that the status of some items may have changed since this sheet s was printed Key N Needed the item is needed for this type of loan O Ordered the item was ordered
151. rst American Credco and Executive Reporting Services gt Ellie Mae Document Services First AmericanTitle First American Flood Data Services First American Appraisal Services First American Real Estate Solutions ValueWeb Please log onto enable your My gt Title amp Closing Flood Certification ePASS customized Mortgage Insurance links Appraisal Services m Financial amp Business News Mortgage Signing e Mail AVM nirren Services e Corporate Leaders Express Optimism about Strength of Economy Password Additional Services Advantage Credit Sees Continued Growth in Web Based Origination Services My ePASS Password not ePASS Password e InterFlood Puts Its Maps Online Log On xl SAMPLES EXREOWN 1 Conventional 950 963 94 92 94 92 F58 E eat a al a The ePASS Business Center Quick Liinks on Bottom Left Corner This is an example of The ePASS Business Center The list shows you all the current ePass categories available in the program Lenders Mortgage Insurance Credit Bureau Flood Certification Appraisal Automated Underwriting etc All ePass partners use the Internet or World Wide Web If you envision The Loan Handler as a computerized typewriter then it s easy to see how our program helps you fill out forms with the important added benefit of allowing the electronic transfer of data between other vendors involved with the loan Simply lt CLICK gt on t
152. s Table of Contents GENERAL INFORAMTION Ellie Mae Software Other Products and Services Computer Technology Three Primary Menus To Work With The Processing Forms Menu The Print Menu The ePASS Business Center Moving Around The Program Menu Bar Shortcut Keys Toolbar Shortcut Keys Cursor Movement Keys Borrower File Directory Create a Borrower File Save and Name a Borrower File How To Use Vendor Databases PROCESSING INFORMATION SHEETS Miscellaneous Data Entry Topics GFE Short Cut FHA Loan Amount Worksheet Refinance Loans Only FHA Loan Amount Worksheet Refinance Loans Only How To Combine Borrower Files Co Mortgagor Sets Using The HUD 1ES Form The Aggregate Analysis Worksheet Section 32 Disclosure High Cost Mortgages Answers To The Most Frequently Asked Truth in Lending Questions Guide To Regulation Z Truth in Lending Regulation Z and ARM Loans Tracking Information Using The Conditions Database Custom Letters Master List Update Borrower Files The ePASS Home Page Accessing Service Providers Credit Reports MISCELLANEOUS OPTIONS Transfer Borrower Files Word Data Merge Export formerly Word Link The Imaging Option TRAINING REVIEW HANDLER POST TRAINING CHECK LIST 105 The Loan Handler 5 2 Training Manual Supplement User 2 05 2002 Courtesy of
153. s information was entered while you were on the 1st Page URLA but here you can make any changes and or add any new information as needed use the Zoom feature to access your list of Landlords and use your preferred method of advancing to the next form in order one form at a time keeping in mind our Odd Even numbering pattern and that there s no limit to the of VOR s that you create 7 Access the ePASS feature Mouse lt CLICK gt on the ePASS Tool Button This section of the program gives you electronic access to Credit Bureaus Appraisers Statistical Property Evaluations MI Insurance Flood Certificates Title Reports etc the Internet WWW This benefits the other Vendors involved with this loan since they can electronically transfer information directly into or out of your borrower forms i e URLA without having to re key the data See the instructions provided by the particular Vendor s that you deal with since the procedures for each will vary from Vendor to Vendor then exit this section of the program In some mortgage operations these tasks may have already been done for you or will be done later in the process by other personnel Mouse lt CLICK gt on the ePASS button again and you are brought back to your borrower file 8 Fill out the Deposit Schedule Mouse lt CLICK gt on the Forms Tool Button and then lt DOUBLE CLICK gt on Deposit Schedule Keyboard Press lt CTRL gt lt W gt Where and press lt D gt Deposit S
154. s of a person ather than the Borrower fincluding Borrower s apouse will be ueed 38 3 basis for ken qualification of __ the income or aseats of the Borrower s spouse will not ba used as a basis for loan qualification but hit or her labditiee must be considered became the Borrower regidos in a community property state the security property ie kecated in a community property etate or the Borrower is relying on other property located in a m Other laxphin O Refunce E Construction Permanent oar Lot Original Cost la Present Value of lot Coet of Imprevement Total a b Acquired 3 3 Complete this line if this is a refinance boan Yoar pe Original Cost Amount Existing Liens Purpose of Refinance Describe improvements Cc CJ Lats EY Cost Tithe will be had in what Name s Manner in which Title will bo heki Estate will be haid in CI reo singe Source of Down Payment Setilament Charges and or Subordinate Financing axplain C show expiration dats anaes ee eee Dependent CoBorrewrer l Married LJ Unmarried include single no 1t not aated by i Somate ori eideann Se ens Voe OE bas H employed in currant position for less than two years or claentlyantploped n more than one position complete tho following ee L Eipioyes Wea eee es rs A TET Lo Botoyes ie a O Monthly Income Monthly Income Position Titie Type of Business S ee Business Phone incl area code Freddie Mac 65
155. sactions For more information on specific vendor requirements 1 2 Open Create a borrower file Complete the borrower co borrower first name last name address and social security number fields on the Preliminary Information Screen Press the drop down arrow to the left of the Credit button on the TLH toolbar y Credt C Select Order Credit Report This will open the ePASS Credit Reporting Screen Credit Reporting Sort A C D F G I LL M O P R S U Y Full List Resources ist Source Credit Reporting AAA Credit Inc ACBS Inc Access Credit Reports LLC ACRAnet ACRAnet CBS Branch Advance Credit Systems Inc Advanced Credit Solution Advanced Information Services Inc Advanced Reporting Advantage Credit Advantage Credit of Colorado Inc AIR Credit Reporting Inc Alliance Credit Services American Reporting Corporation Ann Arbor Credit Bureau Inc AQM Information Solutions Inc Associated Credit systems Inc y Credit BA 2 Order Credit Report View Credit Report Import Liabilities 5 Double click on the credit reporting service that you wish to use e g Factual Data The service provider credit interface will display This screen is the same for all credit reporting services fu FACTUAL DATA INFORMATION TECHNOLOGIES Factual Data a new ePASS Partner has been providing timely accurate credit information to the mortgage industry si
156. since certain lines corresponds with a specific spot within the Custom Letter As an option this same idea can be created using Custom Fields see the sheets entitled Creating Custom Fields The Loan Handler 5 2 Training Manual Supplement User 78 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises CREATING AND OR EDITING CUSTOM LETTERS Please refer to the Administrators guide or ask your system Administrator Update Borrower Files The Update Borrower Files feature could have been called Posting the Mail Once the borrower file has been created and items requested and or printed the waiting game begins The Appraisal Child Support amp Alimony papers Verifications Purchase Contracts W 2 s 1040 s Pay Stubs Payoff Letters Credit Explanation Letters Termite Letters Gift Letters Divorce Statements and a host of other items need to be gathered before the file can be submitted to underwriting This TLH feature helps to make this daily task a little bit easier For example the Processor receives a VOD for borrower JONES enters the Update Borrower Files feature selects the Deposit Tab chooses the appropriate VOD and lt CLICKS gt on the appropriate field that needs to be verified i e Dollar Amount of the First Account at that Depository or Banking Institution Either a change is made to the amount or it is left as it is The next advantage of this feature is that whenever a verification is selected its status is automat
157. st Handler from Contour Software Inc 4406 370 1700 The Loan Handler 5 2 Training Manual Supplement User 64 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Borrower and Tracking Information Recap Sheet DEMO ONLY NOT FOR RESALE Property Address 123 ANY STREET COLUMBIA SC 29201 Borowe ANDY EXAMPLE Address 123 ANY STREET Bate 01 27 00 Time 13 36 55 Paga 2 pei Officer TIM CARTER Loan Number 1234567890 Loan Amount 105000 00 COLUMBIA SC 29210 111 222 3333 333 321 4222 Bor Home Phone Co Sor Home Phone Bor Work Phone Co Bor Work Phone 444 332 3333 VOE 1 ABC CORP OE 2 OCA HOSPITA VOR 1 SLUMLORD JONES VOR 2 ROOMS FOR RENT INC VOR 3 ANDLORD UNLIMITED VOD 1 BANK OF AMERICA VOD 2 FIRST NATIONWIDE VOD 3 FIRST NATIONAL BA VOD 4 CITIBANK VOM 1 GREAT WESTERN VOM 2 HARRIETS HOLDINGS VOM 3 ANY MORTGAGE CO VOM 4 MORTGAGE USA Credit Repor Credit Explanation Current Paystubs ast 2 year m2 5 Gift Letter Source of Funds Current 3 months Bank Stmts ock etter Rental Agreement Appraisal Repor Purch Aqrm Counter Offer Amendment to Contract Good Faith Estimate Req Z Initial Disclosure Equal Credit Opport Act Fair Lending Notice Req Z Final Disclosure Termite Pest Inspection Surve Flood Certificate Homeowners Insurance Polic ales Contrac COMMENTS General Comments HAVE TWO KIDS JOANN D BOS GREAT RATIOS AND LARGE SAVING ANDY PLAY
158. t User 86 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Import Borrower Files Use IMPORT to move borrower files from a location outside the Loans folder to the Loans folder or a Loans sub folder 1 Press Import to import borrower files from a folder outside your Loans folder to the selected folder e g C Contour TLHdata Loans Samples above The Import Borrowers screen will display Import Borrowers xj Cancel Files Directories acs lt 4 Contour C Addin Admin Batch Document E ePa4ss E Help E Utility 2 Under Directories select the folder to import the files from e g C Contour TLH52 above 3 Under Files select the files to import Hold down the Shift key to select sequential files hold down the Ctrl key to select non sequential files 4 Press Import The files have now been imported from the C Handler directory to the selected folder e g C Contour TLHdata Loans Samples above Delete borrower files 1 Press Delete to delete the selected borrower files 2 Press OK to confirm that you wish to delete the selected borrower files The Loan Handler 5 2 Training Manual Supplement User 87 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Word Data Merge Export formerly Word Link Handler s Word Data Merge Import formerly Word Link utility creates Data Source Files from selected borrower fields which become merge fields in Microsoft Word s
159. t yet replace the need for one but are a great tool for Marketing Quality Control and as an Added Value Service to Realtors and Builders Title One loans and 203 k loans are gaining more popularity as more and more Mortgage Companies are looking for new ways to increase their volume and Ellie Mae has included the necessary documents as Add On Forms to The Loan Handler If your printer supports both Legal and Letter size paper at the same time don t forget to select tag all the Documents you want from each print category by lt CLICKING gt on Zoom In and THEN lt CLICK gt on Print That way you print all your Borrower s docs at one time regardless of the paper size Also included is The Imaging Option This allows TLH users to scan images into the program as attachments to your Borrower Files i e W 2 s Credit Reports Gift Letters Tax Forms etc NO MORE hand written GFE s and Apps Start using the program for your up front origination docs and use ePASS Partners for electronic transfer of borrower data This is quicker for everyone as it helps to streamline the entire process of loan origination Borrower File Updates are easy if you use our Update Borrower Files feature see the sheet entitled Update Borrower Files The Loan Handler 5 2 Training Manual Supplement User 106 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises TRAINING REVIEW Answers List 1 lt CLICK gt on the ePASS button at the top
160. t don t currently have data for the Missing Info Report or Custom Letter entitled 1Missing ltr Print Menu and or a Report in The Loan Tracker Missing Information Report can provide a list of where these question marks are located and provide a description of the data is missing Databases lists of info are available throughout the program so be sure to use them anywhere i e Loan Officer Name Lead Came From Branch Name Id Number etc possible see the sheet entitled How to Use Vendor Databases and or How to Create Custom Databases A Magnifying Glass appears on the Status Bar at the bottom right designating fields with databases Mouse While on an appropriate field lt CLICK gt on the Zoom In Tool Button Magnifying Glass to access existing databases or to create a new database Keyboard Press lt CTRL gt lt Z gt Zoom while on an appropriate field or on some press lt DOWN ARROW gt Fill in as much as is possible since much of the data entered on this form affects the rest of the borrower s file and the other forms needed for processing the loan 3 Fill out the Vendor Information Form Mouse lt CLICK gt on the Forward Tool Button right pointing arrow Keyboard Press lt CTRL gt lt A gt Ahead to access the next form Use the same techniques as above and fill in this form with the appropriate data or s and advance to the next form 4 Fill out the 1st Page URLA essentially fills out Residence Schedule
161. ta erased accidentally PROVIDED the cursor has NOT moved from that field lt ESC gt Escape lets you exit or move backwards in the program WITHOUT enacting a change in the file feature or tool Can be used in a number of circumstances i e when you only want to view an entry in a database when you only want to view a date from the calendar when you only want view an answer from the calculator etc From the sheets entitled Menu Bar Shortcut Keys lt CTRL gt lt A gt Ahead lt CTRL gt lt B gt Back move ahead back one form at a time in sequence lt CTRL gt lt Z gt Zoom access various databases and program options REMEMBER only type the first letters of the entry you are searching for since the program will try and find a match for you lt CTRL gt lt L gt Load from almost anywhere in the program lets you change borrower files quickly and easily even when you re in the middle of another borrower s file You do NOT have to return to the Master Menu in order to change borrower files only type the first few letters of the name you are searching for the program will try and find you a match lt CTRL gt lt G gt GoTo lets you move the cursor to a specific field great for updating s throughout the file when you finally receive information that was missing see below for more on the use of s lt CTRL gt lt K gt Lock allows you to Lock data in a field so that it can not be changed without the proper author
162. tal Summary Conditions List Tracking Information Custom Fields Agency Forms Lender Investor Forms Ml Forms Appraisal Forms Environmental Report Forms Title Forms Flood Forms etc Mouse lt CLICK gt on the Comments Tool Button If the Vendors you currently deal with are not yet ready for full ePASS you can still fill out print and or fax these needed documents since many of them are now within our program right next to all the above listed forms from Handler Fannie Freddie FHA VA When you are finished filling in all the forms needed for this loan scenario the next step is to print them 17 Print your documents Mouse lt CLICK gt on the Print Tool Button printer Keyboard Press lt CTRL gt lt P gt Print to access this section of the program Select the various forms you want to print from the appropriate category URLA Verifications Schedule of Real Estate First Page REG Z TIL Recap Sheets GFE etc Also print any of the Custom Letters that you want Welcome Letter Gift Letter Good Faith Estimate Cover Letter TIL Cover Letter ECOA Letter Right to Receive a Copy of the Appraisal Letter Status Letter etc If you want all items within a category simply lt CLICK gt on the name of that category and the program will print all of the possible items i e all VOD s regardless of how many exist If you don t want all items in a category then use the Zoom In feature to access the individual items Mous
163. te the fully indexed rate i e the rate that the payments will top out at NO NEGATIVE ARM LOANS Also fill in lines 8 and 9 line 10 and 11 are optional Line 8 is how often adjustments are made usually this is 6 or 12 Line 9 is the maximum change for each adjustment usually 1 or 2 NEGATIVE ARM LOANS Also fill in lines 4 5 8 and 9 lines 6 7 10 and 11 are optional Same as for NO NEGATIVE above but for line 4 enter the number of months which is usually 12 Also enter line 5 for the percentage that the payment can change for each adjustment This is usually 7 5 or 15 LIFETIME RATE CAP as points fill in line 13 This is usually 5 or 6 CALCULATE WORST CASE PAYMENT STREAM Y N This is usually Y NOTE The Fully Indexed Rate is equal to line 1 and line 3 The addition of these two will be rounded up to the nearest eighth if you have so selected in Line 2 4 OTHER PROGRAMS Fill in MANUAL INPUT OF YEARS USED all lines optional This is a last resort way of completing the REG Z for loan types that Handler does not support It allows you to enter the payments for each year The last payment entered will continue for the life of the loan 5 BI WEEKLY PROGRAMS Fill in nothing else but when payments are calculated it will show BI WEEKLY schedule The Loan Handler 5 2 Training Manual Supplement User 57 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Guide to Regulation Z Truth in Lending page 2 6 BIWEEKLY A
164. th customization available Existing Factual Data Clients OR New Clients e Request Credit Report Get Set Up with Factual Data After getting set up with Factual Data click here Follow this link for instructions on how to pull l to Request Credit Reports credit reports via ePASS iew Credit Report View an already downloaded Credit Report 7 Click on the Request Credit Report link Every time you press this button a 2MB file will download This is normal After the file has downloaded the Credit Report Request screen will display Credit Report Request D x Credit Agency Factual Data Credit Bureaus I FICO Score Password l M Experian I Bankruptcy Score I Save Password M Equifax J Fraud Search Requested By fmindy Trans Union I Repull Bureau Files Loan Number 86876420 Request Type New Request xl Report Type BwesuExpress gt Report On een _____ Last Name First Name MI Sst Borrower EXAMPLE JEXCONSTRUCT 222 22 2022 CoBorrower EXAMPLE CONST PERM j m Street Address City Current Addr 432 BAY STREET OUR CITY Er Es EET Prev Addr e_y as T T ceel The Loan Handler 5 2 Training Manual Supplement User 83 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises 8 Enter your login information as supplied by the credit reporting service The above example asks for company code username and password This will vary according to the provider Sometimes you wil
165. that has been added to the MS Word work area that allows for Inserting Merge Fields etc Teea r RL 7 C 5 CASSIS A The Loan Handler 5 2 Training Manual Supplement User 93 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises With your mouse lt CLICK gt on the first place in your document that you want to merge Borrower Data This anchors the insertion point the cursor where MS Word will place the merged data Then lt CLICK gt on the newly visible Tool Bar button Insert Merge Field This produces a list of the available Field Numbers that were placed on your Word Link Screen List 1 in The Loan Handler Select the appropriate Field Number from the list e g F2 Loan Amount and F2 will appear at the anchored insertion point Do the same for each piece of merged data that you want Here s an example of the results of a sample merge document as it was created Loan Amount F2 Interest Rate F3 Term F4 P amp I F5 And here s what it would look like this when previewed or printed Loan Amount 100000 Interest Rate 8 125 Term 360 P amp I 750 25 When you are finished entering the Field Numbers where you want them to appear lt CLICK gt on File then choose Save As and confirm the name that you want to give this document e g LETTER1 DOC gt If you want to view the results of a merge lt CLICK gt on the View Merge Data Too Button L amp I which shows you the mer
166. the Conditions Stips feature and there are two report types available a Comprehensive Conditions Report and a Conditions Events Report Notice the print button in the bottom left handle corner of the screen The Loan Handler 5 2 Training Manual Supplement User 63 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Click on this Tool Bar Button to x View the Sheets or they can Loan and Vendor Information be Printed fom the Prini Mans Recap Sheet Property Address DEMO ONLY NOT FOR RESALE Date 01 27 00 123 ANY STREET Time 14 42 17 COLUMBIA SC 29201 Page 1 Borrower ANDY EXAMPLE Officer TIM CARTER Address 123 ANY STREET Loan Number 1234567890 COLUMBIA SC 29210 Loan Amount 105060 00 Bor Home Phone 111 222 3333 Bor Work Phone 444 332 3333 Co Bor Home Phone 333 321 4222 Co Bor Work Phone Escrow Company Attn GEORGE GAULT MOORE HILLER amp GAULT Comment FHA APPROVED 12 FRNKKLIN DRIVE Phone 803 543 5678 SAINT GEORGE SC 29477 Fax 803 432 5412 E Mail attorney aol com Title Company Attn KATHY AMERICAN TITLE Comments OPEN LATE ON WEDNESDAYS 7564 FOLSOM STREET Phone 765 453 5343 YOUR CITY ST CA 95008 Fax E Mail Appraiser Attn BILL SMITH SMITH APPRAISERS Comments MOBILE 704 234 5678 123 SAMPLE DRIVE Phone 800 123 4569 MC EWEN TN 37101 Fax 704 432 5432 E Mail appraiserfaol com Credit Bureau Atin SUE SMITH CREDIT ASSOCIATES Comments 7 50 In File P O BOX 23 Phone 800 432 5422 ATLAN
167. the Exit menu choice Use the Remove button to remove the currently highlighted Field Use the Edit button to change the currently highlighted Field Use the Add button to add a new Field to the end of the list F2 Add a Field Edit a Field Remove a Field Loan N a687642 Inspecti Generate DAT Word Link DAT File Generated Successfully Progress Press the Stop button to abort generation of D OK C Contour T Ihdata Loans SAMPLES CONY Open MS Word and the document you want to work with or create a new document as is appropriate Select Tools from the Menu Bar and choose Mail Merge Select Create and choose Form Letters At the message To create the form letters you can use the active document window LETTER1 DOC or a new document window Choose Active Window Note that LETTER1 DOC is our example name of the MS Word document that we will work with and your document name s will be different Next lt CLICK gt on Get Data and choose Open Data Source In the bottom left hand corner of the Open Data Source Dialog Box type in the name of your Word Link Data File e g TLHword1 dat and lt CLICK gt on Open At the message Word found no merge fields in your main document Choose the Edit Main Document button to insert merge fields into your main document lt CLICK gt on Edit Main Document which places you in your document Note that there is a new Tool Bar
168. the above process The Loan Handler 5 2 Training Manual Supplement User 55 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Answers To The Most Frequently Asked Truth in Lending Questions FBBB Item 2 Annual Percentage Finance Charge Amount Financed Total of Payments Rate The dollar amount the The amount of credit The amount you will The cost of your credit credit will cost you provided to you or on have paid after you at a yearly rate your behalf have made all of your scheduled payments C D WHAT IS A TRUTH IN LENDING DISCLOSURE AND WHY DO RECEIVE THIS DOCUMENT The Truth In Lending Disclosure is designed to give information about the costs of your loan You may then compare these costs with those of other loan programs or lenders PO WHAT IS THE ANNUAL PERCENTAGE RATE Box A above The Annual Percentage Rate A P R is the cost of your credit expressed as a annual rate You may be paying loan discount points and other prepaid finance charges at closing Therefore the A P R disclosed is often higher than the interest rate on your loan This A P R can be compared to the A P R on other loan programs This will give you a consistent means of comparing rates and programs gt Oo WHY IS THE ANNUAL PERCENTAGE RATE DIFFERENT FROM THE INTEREST RATE FOR WHICH APPLIED The A P R is computed from the Amount Financed It is based on what your proposed payments will be on the actua
169. use this feature Before going to an Underwriter check for the following 1 A signed dated and typed computer generated URLA 2 A satisfactory Credit Rating with any and all appropriate credit explanations 3 Completed VOE s for Borrower and Co Borrower Before going to Title check for the following 1 Completed VOM s 2 Completed VOD s for Reserves Before going to Closing check for the following 1 Completed Demand of the Payoff 2 A copy of their Green Card Resident Alien Card Front and Back Here s how it looks in The Loan Handler x Event Date Condition Ordered 4 29 2002 All 0 E s in file or copy of document sent Ordered 4 29 2002 Satisfactory credit report with explanations to derogatory credit Received 4 29 2002 new added condition Ordered Appraisal ordered with appraisal co Print Delete New View Condition Close Note the Print Button at the bottom left of the screen this lets you print the Conditions Stip List as the loan progresses through the pipeline There are two types of print outs available a Comprehensive Conditions Report or a Conditions Events Report see attached samples If you lt CLICK gt on View Condition with a Condition highlighted outlined with dashes it will show an Event Status screen e g Condition 3 which allows you to assign its current Status the Responsibility and any additional Comments as is appropriate The Loan Handler
170. was printed Key N Needed the item is needed for this type of loan O Ordered the item was ordered from the appropriate source R Re Ordered the item had to be ordered two or more times from the source F Filed the item was received reviewed and filed away Gift Letter Source of Funds N Rental Agreement for Rental Property N Termite Report Clearance N Homeowners Insurance Policy N VOD 3 EAST BAY BANK amp TRUST N VOM 4 MONUMENT MORTGAGE N The Loan Handler 5 2 Training Manual Supplement User 72 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises lcomment ltr BORROWER COMMENTS LOG Borrower s Name JIM EXAMPLE Co Borrower Name JANE EXAMPLE Property Address 123 ANY STREET CHARLOTTE NC 28201 Loan Originator BOB JONES Printing Date 06 26 99 The following is a listing of the comments entered into the borrower s file as of the above date This is the date that this comment sheet s was printed so keep in mind that there may be more comments in the borrower s computer file that are not listed on these sheet s Comments from The Loan Finder Page 1 WIFE S NAME IS JANE AND THEY HAVE TWO KIDS JOHNNY amp BOBBY JIM IS WAITING TO HEAR ABOUT A PROMOTION AND MAY MOVE IF HE GETS IT GOOD PROSPECT SHOULD BE AN EASY APPROVAL Borrower Conversation Log Page 1 06 12 99 10 52AM SUE EXPLAINED ITEMS NEEDED FOR PROCESSING W 2 S 1040 S ETC 06 14 99 2 34 PM SUE CALLED UNDERWRITER CONCERNING N
171. well over ten years old and are quite different from their earlier versions The Government has mandated many of the changes but many more are due to the creative input of the thousands of users of our products If you feel that you have a suggestion worth looking into please feel free to give a brief but concise description of your idea on the attached pages If example print outs or print screens would aid in describing your idea please attach them as well If your idea is technically possible and is something that makes sense for many users you just might see your ideas in your future product updates A special e mail address has been set aside for dealing with nothing but suggestions support elliemae com please feel free to send suggestions as often as you like Please keep the original copies of any of ideas and materials that you fax or e mail to us since it may be necessary to discuss the idea in further detail with a Ellie Mae representative Fax the material to 800 777 9810 THANK YOU AGAIN FOR YOUR TIME AND EFFORT The Loan Handler 5 2 Training Manual Supplement User 96 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises SUGGESTION MEMO TO ELLIE MAE Date Client CL From Company Name Company City User s Name To Ellie Mae Software Suggestions Department Suggestion Subject The Loan Handler 5 2 Training Manual Supplement User 97 05 200
172. ws95 98 ME 2000 XP and newer The different versions of Microsoft s Windows products We recommend having a Windows consultant handy to keep you up to date Windows Desk Top The term used to describe the initial screen that comes up when working in a Windows95 98 and newer operating environment It shows you what folders and shortcuts are easily accessible to you Work Station A PC personal computer on a network system World Wide Web WWW Also known as the Super Information Highway A system of many networks of computers that provides access to many many other sources of information with the added benefit of being able to link all over the world i e like a spider web of multiple network computer systems A non centralized system of computers Servers Zip Drive Similar to the Tape Back Up It s a method of saving storing your computer data The Loan Handler 5 2 Training Manual Supplement User 11 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises Three Primary Menus To Work With While The Loan Handler is one of the most sophisticated and feature rich processing modules in the industry and there are many options available to our users i e loan officers and processors most will spend the majority of their time with the following three 3 menus 1 The Processing Forms Menu Also Top Left Menu This menu gives you access to the various Forms available in the program Simply choose the appropriate Form
173. y require repairs but were not necessarily Cash Out Refinance Loans Handling Discount Points Previously you were not able to include the Discount Amount in the Mortgage Basis Calculation line 14e on the Mortgage Credit Analysis Worksheet MCAW Many users would FREEZE lt CTRL gt lt F gt the Discount Fees in the box for HUD Allowable Closing Costs on the MCAW line 8a now however the calculations will add the Discount to the Mortgage Basis A When the questions Streamline Refinance Y N and Closing Costs Financed Y N are both answered Y Yes or B When the questions Streamline Refinance Y N and Cash Out Y N are both answered N No For Regular Refinance with Cash Out and for Streamlines where Closing Costs are NOT financed the Mortgage Basis still excludes the Discount Fees Line c on the FHA Loan Amount Worksheet is the same Field and calculations as line 14e on the MCAW For Example on a Regular Refinance with no Upfront MIP Refund and no Cash Out the new Loan Amount calculation will require all Allowable HUD Closing Costs on the FHA Refinance Worksheet or on the Good Faith Estimate Second Page REG Z In order for Origination and Discount Points to calculate as Fees you will need to enter a Guestimate for New Base Loan Amount The Loan Handler 5 2 Training Manual Supplement User 49 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises FHA Loan Amount Worksheet Refinance Loans
174. you easily find a match for your desired listing What sheets describe the various data entry requirements that help you to correctly Calculate the APR for the various loan programs offered Since all Mortgage Companies may eventually be required to submit HMDA LARS Reports should you Delete any borrower files What sheets provide Definitions for computer terms that will help you understand computer tech talk How do you print Blank Forms What Utility allows you to move Borrower Files from one directory to another Do you need to type 00 in any of the dollar numeric fields throughout the borrower s file What keystroke lets you Override a calculation or estimate made by the program Mouse Keyboard 34 What s the name of the method used to link our users to our Ellie Mae partners The Loan Handler 5 2 Training Manual Supplement User 102 05 2002 Courtesy of Mortgage Tech amp Seshco Enterprises 35 36 37 38 39 40 41 42 43 44 45 Is it True that TLH provides a number of standard databases can you create your own databases just about anywhere What keystroke lets you place Today s Date into your borrower file without having to type it in yourself How can you view and or paste into the borrower s file many different Dates i e not just today s date How do you enter data on 1003 Page 4 If while creating a new borrower file say Bob Sm

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