Doc Packages > Initial Disclosures – DocMagic
Once the 1003, GFE, and TIL have been completed, select Doc Packages > Initial Disclosure – DocMagic. The Loan Number and Borrower Name will appear at the top of the screen for confirmation. Document Type will display Initial Disclosure.
Select the language in which to print the initial disclosure package from the Language dropdown list, if enabled with DocMagic.
Request Type allows the user to choose between a Complete Package or an Audit Only package for this submission.
Document Format will allow the user to generate the initial disclosures via PDF or DocBlock.
Tip: On DocMagic's website, there is a DocBlock download called DocMaster Program. This program allows a user to view the initial disclosure documents and add items .
The following 3 check boxes are user right driven and will only function when enabled with DocMagic:
· eDisclosure: Sends an email to the borrower with a link where they can access their initial documents online.
· Click Sign: Allows the borrower to use an e-signature for their documents.
· Mail Out to Borrower: Requests that the document provider automatically mail out the disclosure documents to the borrower's mailing address listed in Forms & Docs > Borrower Summary if the online package has not been accessed within 48 hours of issuance. Note there may be additional fees associated with these options per the agreement with DocMagic.
Upload PDF to DocBlock will allow the lender to browse and attach additional PDF files to DocBlock.
Click Submit to send the request for the initial disclosure package to DocMagic. The display will return to the Loan Dashboard. Doc Packages > Initial Disclosure–DocMagic will be disabled and there will be a spinning icon displayed to the right of the screen name. This indicates that the package is being processed and prepared by DocMagic.
Once the initial disclosure package has been returned, a view icon (paper with a spyglass) will appear.
To view the document package, click on the view icon. A new window will open with several tabs across the top of the screen. The Initial Disclosures (PDF) tab will display the initial package in a new window, PDF format.
Tip: Open the doc package and hover the cursor at the bottom middle of the screen to display a tool bar. Click on the Adobe Acrobat icon. On the left side of the screen an additional tool menu will display. Click on the Bookmark icon (blue ribbon). This will expand a detailed menu of each document within the package by title in the left-side navigation and allow the user to easily navigate through pages within the initial disclosure package.
The Proof Sheet tab will summarize details regarding the loan information, service providers, closing cost fees, payoff and escrow information. (This is the default view upon clicking and entering the view icon for your initial disclosure link within the LOS.)
The Audit tab will display potential discrepancies regarding the loan data.
The APR Payment Calculation tab will show payment information, LTV, and APR calculations. Select the Amortization Schedule hyperlink at the top of this screen to view and print the full Amortization Schedule.
The Section32 Calculation tab will show Section32, HPML, ATR/QM, Fannie Mae, and Freddie Mac analysis to determine whether the loan meets compliance requirements.
The Impound Analysis tab shows an escrow analysis with disbursements and the escrow balance for the year.
Upload PDF (DocBlock) will allow the user to browse their computer and upload additional PDF documents.
Allow Overwriting DocMagic Plan Code at Submission
DocMagic – Click Sign
DocMagic – Download DocBlock File
DocMagic – eDisclosure
DocMagic – Mail Out to Borrower
DocMagic – Order Initial Disclosures – Audit Only
DocMagic – Order Initial Disclosures – Complete
DocMagic – Order Initial Disclosures – FHA Only – Complete
DocMagic – View Initial Disclosures – Audit Only
DocMagic – View Initial Disclosures – Complete
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