Copy Loan

Actions > Copy Loan

This screen allows the user to copy the 1003 data of an existing loan file into a new loan file.

To create a copy of a loan file, select Actions > Copy Loan. A pop-up window will appear asking: Are you sure you want to copy the selected loan? Click OK to create a duplicate loan with matching 1003 information. Click Cancel to return the display to the loan dashboard and not copy the loan information.

Once a loan has been copied, the display will return to the copied loan’s Loan Dashboard. A new loan number will be assigned to the copied loan. The 1003 data will be copied into the loan file; however the Mortgage Amount does not copy to the new loan.

Below is a list of items that are copied within the 1003 with the Copy Loan feature:

Interest Rate (%)

Property Information

Down Payment

Title Information

Borrower information

Employment Information

Gross Monthly Income, Bonuses, and Description of Other Income

Combined Monthly Housing Expense

Assets

REO

Liabilities

Declarations

Below is a list of items that do not copy with the Copy Loan feature:

·         1003 > Terms Tab > Mortgage Amount

·         1003 > Borrower Tab > CAIVRS #

·         1003 > I&H Tab > MI Rate

·         1003 > I&H Tab > MI Renewal Rate

·         1003 > Transaction Details Tab > Estimated Prepaid Items

·         1003 > Transaction Details Tab > Estimated Closing Costs

·         1003 > Transaction Details Tab > Discount

·         1003 > Transaction Details Tab > Cash Deposit on Sale Contact Amount

·         1003 > Transaction Details Tab > User Defined Amount 1

·         1003 > Transaction Details Tab > User Defined Amount 2

·         1003 > Transaction Details Tab > Cash Deposit on Sale Contact

·         1003 > Transaction Details Tab > User Defined Drop Down 1

·         1003 > Transaction Details Tab > User Defined Drop Down 2

·         1003 > Transaction Details Tab > Upfront MIP Factor Drop Down

·         1003 > Transaction Details Tab > Upfront MIP Amount (Line g)

·         1003 > Signature Tab > Signature Date

·         1003 > Government Monitoring Tab > This application was taken by:

·         1003 > Government Monitoring Tab > Interview Date

·         1003 > Other Data Tab > Estimated Closing Date

·         1003 > Government Tab > Agency Case Number

·         1003 > Government Tab > MIP Refund

·         1003 > Government Tab > VA Residual Income

·         1003 > Government Tab >Entitlement Amount

·         1003 > Government Tab > Maintenance

·         1003 > Government Tab > Utilities

None of the associated services (Credit, Flood, AUS), imaged files nor Document Packages copy to the new loan.

User Right:

Copy Loan