Forms & Docs > Processing
The Processing screen is broken into five sections:
· Loan information
· Appraisal Information
· Default Documents
· Additional Documents
· Print Forms
Loan Information displays the Loan Number and Borrower Name in a read-only format. The Processing Status defaults to In Process and will change to Complete when all dates have been completed within the Default and Additional Documents sections. If Homeownership Counseling was required on the loan, the date of counsel may be entered within this section as well.
Tip: The date fields may be entered manually or by utilizing the calendar icon to the right of the field.
Documents that are required for the loan file will each appear in the Default Documents section and have five action dates assigned: Requested, Ordered, Next Follow-Up, Received, and Approved. The action dates should be completed as documents (or tasks) are requested, ordered, received, and approved.
If the document hasn’t previously been ordered, the Request hyperlink under the Action column can be used to pre-fill the Requested date with today’s date. Once a document has been ordered, the Action column links will show two choices: Cancel and Reorder. Cancel will generate a pop-up message asking the user to confirm they wish to cancel the request for this document and void the order once confirmed by clicking Ok. Reorder will generate a pop-up message asking the user to confirm they wish to reorder the document. By clicking Ok, the user accepts the reorder and the Requested date field updates to today’s date.
Additional Documents section contains documents/tasks that appear in a dropdown list. These documents are optional and can be added as needed by selecting the Document from the dropdown menu, completing a date in the Requested date field, and clicking Add Document or the Request hyperlink under the Action column.
Tip: Default Documents are items required for every loan application. Additional Documents are items that may not be required for every loan but are often requested.
There are three buttons available to determine how the changes made within Loan Information, Appraisal Information, Default Documents, and Additional Documents will be handled:
· Submit is utilized by LOS users with WorkQueues in their site. This will trigger the loan to be removed from the Processing queue.
· Save/Close will save the changes made in the designated section of the Processing screen and returns the display to the Loan Dashboard.
· Cancel voids the changes made and returns the display to the Loan Dashboard.
Print Forms provides the user with five verification form options:
· VOD – Verification of Deposit
· VOE – Verification of Employment
· VOL – Verification of Loan
· VOM – Verification of Mortgage
· VOR – Verification of Rent
Each verification option appears based on data entered previously on the 1003. (For example, VOE will only appear on Processing > Print Forms when the employment data has been entered on the 1003 > Employment tab.)
To view a verification form mark the check box next to the desired verification. Single or multiple verification forms may be generated simultaneously. Choose Lender for Display in Name Of if the address utilized on the commitment letter should appear on the document. Choose Broker for the Display in the Name of if the institution address is to appear on the document. Mark the check box next to Populate Signature of Applicant to include See Attached Borrower Authorization in the Signature of Applicant field on the verification form.
Click Get Forms once the desired verification forms have been selected. A new screen will appear titled Print Forms. Click the Request Forms for a Print hyperlink to open a PDF version of the verification forms in a separate window. The user can then Print or Save a copy of the verification forms.
The user can close the separate window and then select Close on the Print Forms screen to return the display to the Loan Dashboard.