The Parties Task is available for all loan types. This task includes Seller Information, Lender Information and Settlement Information. This section is where users will associate all of the parties of the loan.
Seller Section
The Seller Information allows users to add seller information for individual and corporate sellers.
To add any seller information, select Seller Type- Individual or Corporate.
Tip: The fields will appear based on the option between Individual Sellers vs. Corporate Sellers.
If the Individual Sellers radio button is selected, users will have the ability to add up to four sellers.
Users will be able to fill in the fields for up to four individual sellers: First-Middle Name, Last Name and Description.
Users have the ability to add additional seller information such as the Seller Address, City, State, County, Zip, and Tax ID or SSN. Users can also select gender from the Gender drop-down list and their 1099 option from the 1099 drop-down list.
If the Corporate Sellers radio dial is selected the user has the ability to input two descriptions, the Corporate Name, First-Middle Name, Last Name and the Seller Address information. Included is the Tax ID or SSN.
If users do not need to add any seller information after accessing the Seller Information, the user can click Hide located in the blue ribbon on the right hand side. This will collapse this section.
Lender Information
The Lender Information section allows users to enter the Lender/Beneficiary, Investor, PMI Company, Warehouse and Closer.
The Lender/Beneficiary field allows users to enter the Lender/Beneficiary for the loan file. This field will automatically populate if the Lender/Beneficiary has previously been completed on any of the Request screens.
The Close in name of radio options of Lender or Broker will appear and is an editable option. The option to select to, Close in name of Lender or Broker, will appear only if the appropriate setup is completed in the Admin Site.
The Investor field will allow users to enter in the Investor tied to the loan file. If the Investor has already been selected on the Forms & Docs > Investor Lock screen, this field will not appear on the Closing Docs > Lender & Legal tab.
The PMI Company field allows users to enter in the PMI Company tied to the loan file.
The Warehouse field allows users to enter in the Warehouse being used for the loan file. If the Warehouse has been previously completed on the Forms & Docs > Funding screen, the Warehouse field will automatically populate.
The Closer field will allow users to assign a Closer that is completing the closing documents for the loan file. If a Closer has been previously assigned on the Actions > Assign Loan screen, then that Closer will not automatically populate within this field.
The Fax field allows users to enter a fax number for the Closer.
To select from a prepopulated list, click the down arrow or begin typing in the “Select and Item or Type to Search…” field. Click the applicable third party and it will populate on the screen. Once one has been select a black + button will appear to the left of the vendor. If clicked, the details of that vendor will display.
Users can choose and (if applicable) add lenders to the loan or to the site globally (based on user permissions).
Upon clicking the blue plus sign next to the vendor name, a modal window will allow them to add a vendor profile to admin. Some vendor profiles, like Lender, PMI, Investor, and Warehouse will automatically add the new profile to admin. Other profiles, like Trustee, Hazard, Flood, Title Company and Escrow, will ask the user if they would like to apply their profile to the list in admin via a check box.
Note: The “Investor” section will only display if an Investor is not already tied to the product profile, trade, or Investor Lock screen.
Settlement Information
The Settlement Information section allows users to enter the Title Company/Settlement Agent, Trustee, Escrow, Hazard Insurance, and Flood Insurance.
The Title Company/Settlement Agent field allows users to enter the Title Company/Settlement Agent for the loan file. This field will automatically populate if the Title Company/Settlement Agent has previously been completed on any of the Request screens and the Vendor Info screen.
The Trustee field allows users to enter the Trustee information for the loan file. This field will automatically populate if the Trustee has been previously entered on the Forms & Docs > Funding screen.
The Escrow field allows users to enter the Escrow Company for the loan file. This field will automatically populate if the Escrow Company has been previously entered on the Forms & Docs > Funding screen.
The Hazard Insurance field allows users to enter the Hazard Insurance for the loan file. This field will automatically populate if the Hazard Insurance has previously been completed on any of the Request screens and the Vendor Info screen.
The Flood Insurance field allows users to enter the Flood Insurance Company for the loan file. This field will automatically populate if the Flood Insurance Company has previously been completed on the Vendor Info.
To select from a prepopulated list, click the down arrow or begin typing in the “Select and Item or Type to Search…” field. Click the applicable third party and it will populate on the screen. Once one has been select a black + button will appear to the left of the vendor. If clicked, the details of that vendor will display.
Users can choose and (if applicable) add lenders to the loan or to the site globally (based on user permissions).
Upon clicking the blue plus sign next to the vendor name, a modal window will allow them to add a vendor profile to admin. Some vendor profiles, like Lender, PMI, Investor, and Warehouse will automatically add the new profile to admin. Other profiles, like Trustee, Hazard, Flood, Title Company and Escrow, will ask the user if they would like to apply their profile to the list in admin via a check box.
Users can choose and (if applicable) add lenders to the site globally (based on user permissions).