The I & G (Insuring and Guaranteeing) screen allows the user to record information about submitting funds for PMI, MIP and VAFF. It also allows the user to record when the MIC/LGC was received and shipped to the Investor. Users may edit the I & G screen after the loan has been finaled with the applicable user right (noted below) by clicking on I & G from the left-side navigation under Forms & Docs.
The following fields will automatically populate based on data entered on other screens:
· Borrower – populates the primary borrower's name.
· Loan Number – populates with the system generated Loan Number.
· Case Number – populates from the 1003 > Government > Agency Case Number field for government loans.
· Product Code – populates from the Lock > Product Code field.
· Net MI/MIP/VAFF – populates the amount of the single premium MI, upfront MIP or VA Funding Fee.
The following fields are editable:
· MI Company – for conventional loans, select the PMI Company from the dropdown list. This field automatically populates if the PMI Company was selected on the 1003 > Income, Housing > MI Rate % hyperlink > MI Data > PMI Company field or the GFE/IFW > 1000 Section > Mortgage Insurance > MI Rate % hyperlink > MI Data > PMI Company field.
· Date Received – enter the date the file is received.
· MIP/VAFF Due Date - enter the date the funds are due to the agency.
· Verification Code - enter the verification code received from FHA/VA after electronic transmission of funds.
· Check Number - enter the check number issued for payment on conventional loans.
· MIP/VAFF Wire Date - enter the date paid or the date funds sent to MI Company, FHA or VA.
· Late Charge - enter the amount of any late charges assessed for delinquent payment of MI/MIP/VAFF.
· Fee Suspended - enter the date the insurer was notified that funds were suspended (this is typical if insufficient funds were remitted to MI Company, FHA or VA).
· Adj. MI/MIP/VAFF - enter the amount of the adjusted MI, MIP or VAFF funds.
· Adj. Fee Sent - enter the date the adjusted amount sent to the MI Company, FHA or VA.
· Adj. Late Charge - enter the amount for the late charge due to MI Company, FHA, or VA.
· Adj. Verification Code - enter the verification code received from FHA/VA after electronic transmission of adjusted funds.
· Adj. Check Number - enter the check number issued for payment of adjusted funds on conventional loans.
· Package Prepared - enter the date the insuring package was prepared for FHA or VA.
· Package Rejected - enter the date of the notification of rejection (NOR) from FHA or VA.
· Recap Received - enter the date receipt retrieved via the internet from the FHA Connection or VA web site (received after payment of funds, but prior to the submission of the insuring package).
· Package Sent - enter the date the insuring package was sent to FHA or VA.
· Shipping Method - enter the method of delivery for the insuring package.
· Tracking Number - enter the tracking number of the insuring package.
· Package Resubmitted - enter the date the insuring package was resubmitted to FHA or VA.
· Shipping Method - enter the method of delivery for the resubmitted insuring package.
· Tracking Number - enter the tracking number of the resubmitted insuring package.
· Date Insured - enter the date the loan was insured (this may differ from the date the MIC/LGC is received).
· HUD Authorization Code – for FHA refinances, enter the authorization number provided by HUD on the case number assignment.
· Previous Case Number – for FHA refinances, enter the borrower's previous case number.
· Reservist – for VA loans, select Yes if the borrower is in the Reserves or No if they are not.
· Subsequent Use – for VA loans, select Yes if the borrower has previously used their eligibility or No if they have not.
· VA Office – for VA loans, enter the state specific code for the VA office issuing the LGC (the first two digits of the assigned case number).
· VA Loan Type – for VA loans, enter the VA specified code to identify the loan type.
· Audit Request - enter the date the loan was requested to have an audit completed.
· Date Sent - enter the date the file was sent to the Audit Department.
· MIC/LGC Received - enter the date the MIC/LGC was received from FHA or VA.
· MIC/LGC to Investor - enter the date the MIC/LGC was forwarded to the Investor.
· Insurer - select the name of the user completing the I & G screen.
· Are Payments Current – select Yes or No to indicate if loan payments are current during the insuring process.
Tip: PMI Companies are setup in the Administrative Site in Vendor Admin > PMI Companies.
Tip: Users associated with the correct User Rights Role (Insuring and Guaranteeing, Shipping/Post Closing/I&G, or Clos./Fund./Coll./Ship./Post Clos. /I&G/Serv.) in the Administrative Site will appear in the Insurer dropdown list.
Click Save/Close to save the information entered on this screen.
Click Cancel to discard changes made to this screen.
Click the Printer Icon next to Forms & Docs > I & G to open a printable version of the I & G screen.