When first accessing the U/W Conditions/Decision screen, there will only be one open condition at the bottom the screen. This condition will not have any information listed.
In order to pull pre-set conditions into the screen go to the Underwriting Template field and select the corresponding template from the drop-down list. Once a template has been selected the screen will refresh and populate the conditions from the template.
Default is marked if this condition will remain with the loan.
Internal is marked if this is a condition that remains with the loan but is also hidden from the Commitment Letter.
Select a Status from the drop-down list to mark the status of the condition.
· Pending-the preset status meaning the condition is pending.
· Approved- the condition has been approved. This will auto populate dates in the Date Received and Date Cleared fields.
· Waived-The condition has been waived for the borrower or institution. This will auto populate dates in the Date Received and Date Cleared fields.
· Received- the condition has been received but has not yet been cleared.
Tip: The Status meaning can differ depending on the Institution. Be sure to utilize the status that best suits the institution need.
The Type field is used to mark the type of condition that is listed. Some defaults appear when first using the LOS. These Types can be different depending on administration set-up.
· PTC- Prior to Closing
· ATC- At the Closing
· PTF- Prior to Funding
Note: Depending on administration set up, some conditions can be marked to always populate onto the Closing Docs when set to a particular type.
The Condition Date field is a manual entry field that allows a user to enter the date that a new condition was added to a loan.
The Condition field is used to input the condition. Each condition box allows for up to 2000 characters and will prompt you with the amount of characters left when typing in the condition box.
The Date Received field is the date the condition was received by a user.
The Date Cleared is the date a condition was approved or waived by a user.
The Publish Underwriting Decision field, when marked, publishes the underwriting decision for the loan and can update the status in the loan pipeline. The underwriting decision will not be visible unless the "Publish Underwriting" box is checked at the bottom of the screen. Only when this box is checked will a notification be sent to the designated users.
The Add More button, when clicked, allows the user to add their own customized condition in the blank condition box.
The Lock Confirmation button sends the screen to the Lock Confirmation page.
To save changes to this place there are two options. The Save button will save the screen but remain on the U/W Conditions/Decision screen. The Save/Close button will save the updated information and the screen will display the printed version of the screen.
Tip: After marking the conditions to remain on the loan, by clicking save, those conditions not marked to remain on the loan will be removed.
The Cancel button will remove any updates made and display a pop-up message notifying that “The changes made to this page will not be saved. Do you want to continue anyway? By clicking OK the screen returns to the Loan Dashboard. By clicking Cancel the screen remains on the U/W Conditions/Decision screen.
Once saved, a new button will appear at the bottom of the screen. The Add From Template button, when clicked, will reapply any conditions that were left unmarked during the initial save.