Transcript Document

Welcome
Document Imaging System Training
Dial in number: (559) 546-1000
Participant Access Code: 297334#
Webinar Agenda
•
Introductions
•
Document Imaging System overview
•
Document Imaging Upload Procedure



Compliance Files and Compliance Suspense Conditions
Wire Requests
Down Payment Assistance Closed Loan Packages
•
Reminder-Quality of File Submission
•
Clarification of File Review Turn Times


•
Compliance File Review
Suspense Conditions Review
Program Updates and Reminders



Sole and Separate Guidelines
Compliance Review Addendum
Compliance Manual updates
5/27/2015
2
Document Imaging System Overview
•
New functionality accessed through the online reservation system
•
Allow lenders to submit documentation to MFA electronically (scanned .pdf)
•
Submission of documentation is loan number specific
•
Use separator sheets (“index sheets”) to section the Compliance and Closed Loan packages
•
New checklists specific to each section
•
Compliance File and Closed Loan packages are stacked using index sheets and new checklists
•
Documentation is scanned by lender for upload to MFA
•
Notifications sent via e-mail from Document Imaging system
•
Lenders will retrieve documents and communications from MFA through the online reservation system

Exception-outstanding Compliance and Closed Loan suspense conditions
6/10/2015
3
Document Imaging System Overview (cont.)
Accessing the System
• Everyone must have their own user name and password to
submit files through the system
• Each lender has a designated “Administrator” that manages
user names and passwords (no longer managed by MFA
staff)
• If you do not have your own individual user name and
password, you will not be able to submit documentation
electronically
• MFA is sending reminders to the Administrator at each
lender to set up everyone that will be accessing the system
6/10/2015
4
Document Imaging System Overview (cont.)
Accessing the System
“Web Profile” is “Lender”
“Originator” is your company’s unique Originator number
“Branch” is a unique identifier for branch offices within
your company
“User Name” and “Password” are specific to each user
and are assigned by your in-house password administrator
• Document upload process is via a secure web portal
• Sensitive information is encrypted
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5
Uploading a Compliance File
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6
Uploading Compliance File Overview
• Compliance Package must be stacked in the following order :
 index sheet
 Individual checklists for each section
 then documentation (repeat until all sections have been completed)
• Stacked Compliance File is scanned by lender and saved as a .pdf
document.
 Scan at a resolution of at least 300 dpi in order to have the files
readable
 Please QC file before uploading to ensure that the scan is a good
quality
• Lender uploads file into Document Imaging system
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7
Uploading Compliance File (cont.)
Select “View Loan Detail”
6/10/2015
8
Uploading Compliance File (cont.)
Insert MFA 1st Mortgage
loan number
Click “Retrieve Loan”
All Compliance Packages are uploaded by using the
1st Mortgage loan number
6/10/2015
9
Uploading Compliance File (cont.)
Click “Document Images” button
Master Servicer Loan
Number will replace
the(“Lender Loan
Number”) when
Idaho assigns their
loan number after
the reservation is
electronically
transmitted to Idaho
6/10/2015
10
Uploading Compliance File (cont.)
Index Sheets and checklists
1. Check boxes for
each section of the
Compliance Package
2. After the appropriate
boxes are selected, click
“Get Index Sheets”
3. The index sheets and checklists for each section of the package will print
4. Stack the Compliance File with the index sheets and checklists in order (1,2,3..)
6/10/2015
11
Uploading Compliance File (cont.)
Index Sheets and Checklists
• Sample index sheets
• Sample checklists printed from the system.
6/10/2015
12
Uploading Compliance File (cont.)
Select scanned .pdf
file from your saved
location
Click “Upload” to
import loan file into
the system
6/10/2015
13
Uploading Compliance File (cont.)
1. Notice from system that the pdf file was
uploaded and ready to be imported.
2. Click “Process
Now” to import .pdf
file into the system
3. After the “Process Now” button has been selected:
• the system will “think” and display a “curser swirl”
• Screen will refresh and return to the “upload screen” (slide #9)
6/10/2015
14
Uploading Compliance File (cont.)
• Click “Back” to retrieve additional loans, upload additional files or to “Logoff”
the system
• Do not use the back arrow in the browser, as this will log you out of the system
6/10/2015
15
Uploading Compliance File (cont.)
Notification of Submission to MFA
• The system will automatically generate and send an e-mail message to
MFA staff, notifying them that documents/files have been uploaded
into the system
• Documents/files will be time stamped at the time of upload
• MFA will checked in review documents/files in the order they are
received
6/10/2015
16
Uploading Compliance File (cont.)
Notification of Submission to Lender
•
An E-mail message is generated to the lender when loan status changes

(example- “Reservation” to “Compliance File Received”, “Compliance File Received” to “Compliance
Suspense”, etc.)
From:
To:
Subject:
MFA <[email protected]>
Person who logged into the system and uploaded the file
Loan Status Change Notice for loan reserved with MFA
Loan Number: 102817
Mortgagor: JAMES TEST
Old Status: RESERVATION
New Status: COMPLIANCE FILE RECEIVED
If you have any questions about the loan please contact the MFA Staff Member that
reviewed the file.
Please sign into the MFA On-Line Reservations system to retrieve the loan mentioned
in the e-mail. Then you can either print the conditions from the Loan Detail Screen or
go to the Print Documents tab and print the appropriate letter(s)
6/10/2015
17
Uploading Compliance File (cont.)
Questions on the process of uploading a
Compliance File?
6/10/2015
18
Compliance Suspense Conditions
Retrieval of Compliance Suspense
Condition sheet
6/10/2015
19
Retrieval of Compliance Suspense Conditions
• Lender will be notified, via e-mail, when the
Compliance Suspense Condition sheet is available
for retrieval from the system
• Lender must log in to the system to retrieve the
Compliance Suspense Condition sheet
• Compliance Suspense Conditions must be stacked
and scanned in the order they are listed on the
Compliance Suspense Condition sheet
6/10/2015
20
Retrieval of Compliance Suspense Conditions (cont.)
1. Check all boxes
next to Compliance
Suspense Conditions
2. Click “Retrieve” to
print Compliance
Suspense Conditions
6/10/2015
21
Retrieval of Compliance Suspense Conditions (Cont.)
• Sample printout for the Compliance
Suspense Conditions
6/10/2015
22
Upload of Compliance Suspense Conditions
6/10/2015
23
Upload of Compliance Suspense Conditions (Cont.)
1. Click “Browse”
button to locate
scanned .pdf from
your saved location
2. Click “Upload” to
import suspense
conditions into the
system
6/10/2015
24
Upload of Compliance Suspense Conditions (Cont.)
After the “Process Now” button has been selected:
• the system will “think” and display a “curser swirl”
• Screen will refresh and return to the “upload screen”
(slide #9)
6/10/2015
25
Uploading Compliance Suspense Conditions (cont.)
Notification of Submission to MFA
• The system will automatically generate and send an e-mail message to
MFA staff, notifying them that documentation has been uploaded into
the system
• Documentation will be time stamped at the time of upload
• MFA will check in and review documents in the order they are received
6/10/2015
26
Notification of Outstanding Compliance Suspense
Conditions
• Lender will receive an e-mail from the (MFA) Compliance Reviewer,
notifying them of any outstanding Compliance Suspense Conditions
that have not been cleared
• Lender must log into the system to retrieve the revised Compliance
Suspense Condition sheet
• Lender will upload revised Compliance Suspense Condition
documentation as previously described (slide #24 )
6/10/2015
27
Notification of Compliance Approval
and
Printing Approval/Commitment Letters
6/10/2015
28
Notification of Compliance Approval
•
An e-mail message to the lender is generated when the loan is Compliance
Approved
•
Example of the email the lender will receive:
MFA
[email protected]
To:
Person who logged into the system and uploaded the file
Subject: Loan Status Change Notice for loan reserved with MFA
Loan Number:
Mortgagor:
Old Status:
New Status:
102817
JAMES TEST
COMPLIANCE SUSPENSE
COMPLIANCE APPROVAL
6/10/2015
29
Printing Compliance Approval and DPA Commitment
Letters
• Lender will need to log into the system to retrieve the Compliance
Approval and DPA Commitment Letters
Click on Print
Documents
6/10/2015
30
Printing Compliance Approval and DPA Commitment
Letters (cont.)
Click on the
document that is to
be printed and a pdf
version will print
•
Both the first mortgage and the second mortgage loan will need to be
retrieved to print the appropriate letters.
•
•
•
Print the 1st Mortgage Compliance Approval Letter from the first
mortgage loan record
Print the 2nd Mortgage Compliance Approval Letter and the DPA
Commitment Letter from the second mortgage loan record
A Mortgage$aver Plus or a HERO loan will have an additional “loan record”
with the same loan number as the first mortgage and either a “P” or a
“TBA” after the loan number. This “loan record” will also need to be
retrieved in order to print the DPA Commitment Letter.
6/10/2015
31
Down Payment Assistance (“DPA”)
Wire Requests
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32
DPA Wire Request
Process
• Once the loan is in Compliance Approval status and the
appropriate approvals/commitments have been printed, the
DPA wire request can be submitted to MFA via the system.
 To submit the wire request for the Mortgage Booster,
Helping Hand and Payment$aver programs, retrieve the
second mortgage loan number
 To submit the wire request for the Mortgage$aver Plus or
HERO grant, retrieve the first mortgage loan number
6/10/2015
33
Uploading DPA Wire Request
Mortgage Booster/Payment$aver/Helping Hand
• Lender will log into the system and retrieve the second mortgage loan number
1. Retrieve 2nd
mortgage loan number
2. Click on “Document
Images”
6/10/2015
34
Uploading DPA Wire Request
Mortgage Booster/Payment$aver/Helping Hand (cont.)
• Prepare the
wire request
form
• Attach
required
documentation
• Scan and
save as a .pdf
file
• Upload .pdf file into the Wire Request and Back-up section
• No need to print an Index Sheet-Wire Request will be loaded directly into system
6/10/2015
35
Uploading DPA Wire Request
Mortgage$aver Plus and HERO
Click “Document Images”
1. Retrieve 1st
mortgage loan number
(Do not use the loan
number that has a P or
TBA after the number)
6/10/2015
36
Uploading DPA Wire Request
Mortgage$aver Plus and HERO
• Prepare the
wire request
form
• Attach
required
documentation
• Scan and
save as a .pdf
file
• Upload the .pdf file into the “Wire Request and Back-up” section
6/10/2015
37
Down Payment Assistance (“DPA”)
Closed Loan Package
6/10/2015
38
Closed Loan Package Submission Process
• First Mortgages are electronically submitted to
Idaho Housing and Finance Authority by loading
the files into the Idaho first mortgage loan
number (via Lender Connection – No changes
to this process)
• Second Mortgages (Mortgage Booster,
Payment$aver and Helping Hand) are
electronically submitted to MFA by loading the
files into the second mortgage loan number.
(via the System)
6/10/2015
39
Printing Index Sheets
• Retrieve the 2nd mortgage loan number
1. Check boxes
for each section
of the
Compliance
Package
2. After the
appropriate
boxes are
selected, click
“Get Index
Sheets”
6/10/2015
40
DPA Closed Loan Package
Stacking the file
• Closed Loan Package will be stacked in the following order:
 index sheets
 section checklist
 documentation (repeat until all sections have been completed)
• Stacked Closed Loan File is scanned and saved as a .pdf document
 Scan at a resolution of at least 300 dpi in order to have the files
readable.
 Please QC file before uploading to ensure that the scan is legible
• Upload the .pdf file into the system
6/10/2015
41
Uploading the DPA Closed Loan Package (cont.)
1. Select
scanned .pdf file
from your saved
location
2. Click “Upload”
to import loan
file into the
system
• The e-mail notification process is the same as the Compliance File /Suspense Condition
process
6/10/2015
42
Retrieval of Closed Loan Suspense Conditions
• Lender can retrieve suspense conditions from
system
• Suspense Conditions are stacked in order
listed on Closed Loan Suspense conditions
6/10/2015
43
Retrieval of Closed Loan
Suspense Conditions
• Retrieve and stack Closed Loan Suspense Conditions in the same way as Compliance
Suspense Conditions
1. Check all
boxes next to
Closed Loan
Suspense
Conditions
2. Click “Retrieve”
to print Closed
Loan Suspense
Conditions
6/10/2015
44
Uploading DPA Closed Loan Conditions
• Select .pdf file
from saved
location
• Click “Upload”
to import
suspense
conditions
into the
system
After the “Upload” button has been selected:
• the system will “think” and display a “curser swirl”
• Screen will refresh and return to the “upload screen” (slide #14)
6/10/2015
45
Quality of Compliance File and Suspense
Conditions
 The quality of the file will make the review
process go faster if the file is complete and
the documents are legible.
 Please make sure to QC the .pdf file before
uploading to ensure that all documents are
included and legible.
6/10/2015
46
Clarification of Turn Times
Compliance File Submission and Review
 Compliance Files can be uploaded between 9:00 AM and
5:00PM (Monday through Friday, excluding holidays)
 A Compliance File uploaded today will be placed into the queue
for review the following business day (the “clock” starts at
8:00AM)
 The Compliance File will be reviewed and conditions/approval
sent within 3 business days of receipt of file.
6/10/2015
47
Clarification of Turn Times
Compliance Suspense Conditions
 Same “clock” as the Compliance File Submission
 Compliance Suspense Condition will be reviewed:
Loans with 5 or more suspense conditions will be
cleared within 2 business days
 Loans with less than 5 conditions will be cleared within
1 business day
6/10/2015
48
Sole & Separate Guideline Change
• MFA will no longer restrict the use of Sole & Separate
title vesting
• New Compliance Review Addendum used to provide
information to MFA not included on the loan
application
• As long as the Compliance Review Addendum is
accurate and complete, Lender is not required to
obtain permission from MFA to use Sole & Separate
title vesting
6/10/2015
49
Compliance Review Addendum
• The Compliance Review Addendum will
provide MFA with information regarding:
 Additional household members not included
on application (to determine income limit)
 Additional household income/employment not
used for credit qualification
 Statement of prior homeownership
 Non-purchasing spouse information
6/10/2015
50
Compliance Review Addendum (cont.)
Process
• Lender completes the MFA Compliance
Review Addendum at time of loan
application
• Lender submits the Compliance Review
Addendum with the Compliance package
• All applicable documentation for proof of
income, FTHB status, etc. must be submitted
with the Compliance Review Addendum
6/10/2015
51
Compliance Review Addendum (cont.)
• Sample of Compliance Review
Addendum
6/10/2015
52
Updated Compliance Manual
• The Compliance Manual has been
updated with new and revised guidelines
• The revisions have been highlighted so
that it will be easier to find the changes
6/10/2015
53
Questions?
6/10/2015
54