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Data Depot
....................................................................................................................................
11
Summary Page .............................................................................................................................. 15
Assets ............................................................................................................................................ 29
Declarations/HMDA/Interviewer Information ............................................................................. 36
Locking the Loan ........................................................................................................................... 38
View Loan Conditions.................................................................................................................... 49
Resubmit for Review ..................................................................................................................... 51
Track Loan Status .......................................................................................................................... 56
5 Correspondent Lending
Introduction The purpose of this client job aid is to give LenderLive Network’s correspondent customers a
reference on how to use the EOriginator system to complete submission/locking/submitting
conditions and general usage of the system for non-delegated and delegated correspondent clients.
This section outlines LenderLive’s proprietary loan origination environment in an effort to provide
additional familiarization with the site.
This section will review the following:
The Website
The Website eOriginator is proprietary, robust software that powers a loan originators point of sale, assisting with
the completion of Pre-Close and Post Close review processes. Among the many features available,
one can obtain automated pricing and automatic locking, easy upload features, management of
communication and purchase requirements, and underwriting decisions. eOriginator also serves as
an information portal into the seller’s loan pipeline.
LenderLive’s paperless web environment streamlines the management of all loan files, providing
real-time access to view and manage electronic loan files.
6 Correspondent Lending
Accessing the Website This section will provide direction on how to access the eOriginator site and create the necessary
password.
System Requirements
Creating a New Password
System Requirements The eOriginator site is available using IE7 or above, Firefox or Chrome.
Accessing the Site To access the eOriginator site, follow the below URL:
Site Login The login screen will appear as shown below:
Complete the following steps to access the site:
• Enter the Client ID
• Enter the provided Password
8 Correspondent Lending
Forgot your Password? In the circumstance a password is forgotten; it may reset by simply clicking “Forgot Password” on the
main login screen.
9 Correspondent Lending
Notification will be provided advising that the password reset has been successful:
The system will generate and email a generic password to the email address associated with the
User profile.
10 Correspondent Lending
Creating a New Password The newly created password must contain a combination of letters, numbers, and special characters.
It cannot be a word found in the dictionary when the numbers and special characters are removed.
The “old” password will auto fill into the data fields. Create a new password, verify the password,
complete the New Password Hint, and click Submit.
Example of incorrect password convention:
4pas8sw#ord!
Pa$$w0rd
W3!c0m3!
11 Correspondent Lending
Home Page The eOriginator Home page is the hub for loan communication and pipeline management.
This section will review the following:
Data Depot
Quick Search
Data Depot The Data Depot is located at the top of the eOriginator Home page. It is populated and visible when a
loan is selected and provides a snapshot of the Borrower/Loan information.
• Property Address • Phone Number • Purpose
• Borrower Name • Fulfillment ID • Underwriter
12 Correspondent Lending
Quick Search The Quick Search option allows the ability to search the pipeline for a specific loan by any of the
following criteria:
• Servicer Loan Number
• Property Address
13 Correspondent Lending
Main Menu The Main Menu allows access to view the Home Page, Message Page, and to Log Out.
This section will review the following:
Home
Message Page
Log Out
Home By selecting the Home from the navigation bar, the system will redirect to the main Home Page. From
here, access is available to the Navigation Icons for quick system navigation and to view high level
loan information.
Log Out
14 Correspondent Lending
Choose A Loan – Existing Loans This section allows for several options and manners in which to search and select a loan transaction.
This section will review the following:
My Pipeline
Search Loans Summary Page
Check In/Check Out Loans
My Pipeline By selecting My Pipeline from the navigation bar, the system will populate a list of all loans currently
registered or submitted to LenderLive, in various stages, according to user profile.
The pipeline can be sorted by the following criteria:
Status Loan ID Seller
Borrower Name State Rate
Price Loan Amount Program
15 Correspondent Lending
Selecting a Loan from My Pipeline To select a loan from the My Pipeline, simply click on the desired name in the Borrower Name
column.
By completing this action the system will redirect to the Summary Page for the selected loan.
Summary Page Once a Borrower has been selected, the system will redirect to a loan summary page, which provides
a snapshot of the loan transaction.
16 Correspondent Lending
Check Out Loan In an effort to protect the integrity of the loan application, only one individual can modify the loan at
any given time.
In order to modify loan data, once the loan populates on the page, click the Check Out Loan box
located in the Data Depot.
Once the necessary modifications have been completed, click the Check In Loan box. This will make
the loan available for another User.
Search Loans The Search Loans function allows you to search the pipeline of loans at a more granular level. Loans
can be searched by the following criteria:
17 Correspondent Lending
• SSN • Email Address • Subject Address
• Phone Number • Loan Type • Agency Number
To enhance the timing of the search function, select the appropriate Loan Status first to narrow the
data return.
• Withdrawn
Enter all other applicable loan search criteria and click Search. The results will render on that page for review.
18 Correspondent Lending
Choose a Loan - Create New Loan The Create New Loan section of the navigation bar allows three (3) methods to remit a loan
application. This section includes the following processes:
Import Loan File
Import Loan File The system allows the ability to import a FNMA 3.2 file or DU Case File ID for quick upload. Follow the
instructions below to import a loan file:
• Select Import Loan File from the left navigation bar
• Check the box for “I am the Contact Person” o Contact information will populate based on login credentials
o Manual entry of the Contact Person for the loan transaction may also be done
Select Browse and choose the appropriate file from the directory
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• Once located, click Open. The path of the file will be displayed in the address bar
• Click Validate File
The system will then provide the opportunity to enter Interviewer Information, prior to importing the
loan. This section may be skipped as it is not necessary for the Pre-Close and Pre-Purchase Review
processes.
Error Messages If any errors exist in the 3.2 file import, they will be listed at the bottom of the page. Stop and review
all errors to confirm if any items need to be addressed, prior to importing the file.
20 Correspondent Lending
Loan Menu The Loan Menu provides access into all portions of the loan application and follows the format of the
1003 application.
Applicant Information Employment Assets
Declarations Loan Summary
• Findings • Contact Person
• Applicant Information • Previous Residence Info
21 Correspondent Lending
Contact Person This section identifies the contact person for the loan transaction. This can be indicative of the Loan
Officer, Processor, or Borrower. This section should be populated based on the initial file import
process.
Interviewer Information This information does not need to be completed if the information was contained in the 3.2 file
import. If not, click the “Use my LO info” to generate information.
22 Correspondent Lending
Loan Information The Loan Information section provides the option to select the purpose branch associated to the
loan transaction, the purpose of the loan, lien position, loan amount, and loan type. Please indicate
whether the loan will be used to purchase or refinance residential property. If the loan is for
residential construction or if a second lien is being requested, indicate in this section.
Purchase
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.
zip, county, purchase price (if applicable), appraised value, year built, occupancy, property type, and
title vesting information.
Be sure to select the County from the dropdown. Counties do not populate and import on a
3.2 file. This will need to be manually selected.
24 Correspondent Lending
States available in the dropdown will be applicable to your organizations lending platform. Upon
selecting the State, additional fields such as City, Zip and County will generate for selection.
Applicant Information The Applicant Information section will outline the following for the Borrower and Co-Borrower:
• Current address
25 Correspondent Lending
Review all information to confirm accuracy of the 3.2 file import and make any necessary
corrections/additions.
Previous Residence If the Borrower(s) have less than 2 years in the current residence, a previous residence must be
entered. Click Add Previous Residence button at the bottom of the screen to prompt the system to
populate the previous residence data entry field, if not imported from the 3.2 file.
26 Correspondent Lending
Additional Applicants If there are more than two Borrowers or non-occupant Co-Borrowers associated with the loan
transaction,
The Additional Applicants tab will appear on the Applicant Information page and allow for review of additional borrower information that would have imported from the 3.2 file.
Click on the Additional Applicants tab to review the additional Borrower(s) to the loan transaction.
27 Correspondent Lending
Employment In order to determine the Borrower(s) ability to repay the mortgage loan requested, the lender must
be informed of the applicant’s monthly income.
The employment and income will be uploaded for all Borrower(s), on the Employment page. This
page contains the following sections:
• Primary Employment and Income • Non-Employment Income
• Other Employment and Income • Previous Employment and Income
Primary Employment and Income Review the employer name, address, and applicable job position information including monthly base
salary and start dates for all borrowers on the loan transaction.
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• Annuity
• Trust
• Pension
Review the Non Employment Income section to confirm the appropriate information is present:
Other Employment and Income The Other Employment and Income section is available to review a second job. If any of the
Borrower(s) are working a job in addition to his/her current employment, the information will need to
be entered in this section of the Employment page. This information should be uploaded in the 3.2
file import.
Previous Employment and Income For some loan transactions, additional loan data elements may be required. If the Borrower(s) have
been employed at the current employer for less than 2 years, a previous employment record may
need to be entered.
29 Correspondent Lending
Review the Previous Employment information imported on the 3.2 file for accuracy.
Assets The Assets section is used to record relevant financial information regarding a Borrower(s) assets
and liabilities, which may be meaningful for the transaction.
The Assets will be confirmed for all Borrower(s) on the Assets page. This page contains the following
sections:
• Assets • Down Payment (purchase applicable)
In this section, information regarding which Borrower owns the asset, asset type, account name,
number, and value will be validated.
If more data entry fields are necessary, click Add Asset to populate additional rows.
30 Correspondent Lending
Credit and Liabilities The Credit and Liabilities section allows for systematic population of all Borrower(s) liabilities.
This page contains the following sections:
Manual Credit Entry
Stated Credit
Stated Score If entering a stated score for loan transaction pricing, enter the credit report mid score into this data field. This would be the score being utilized for pricing of the loan transaction, from the bureau
previously pulled. Enter that number in the Credit Score field.
Credit information may be entered in one of three ways:
1. Manually (user entered)
31 Correspondent Lending
Manual Credit Entry To enter credit manually:
• Click on Save and Add New Liability in the liabilities section. A blank row will appear
• Complete the account information by using the dropdown fields or typing the information in the free form fields
• To enter more data fields, click Save and Add New Liability to populate additional rows
32 Correspondent Lending
Deleting a Liability In the instance a manually created liability needs to be removed, click the Delete box next to the
liability, and click Delete.
Import If importing a file into eOriginator, the liabilities contained in the upload will auto populate into the
liabilities section of the Credit and Liabilities page. These liabilities will need to be identified with the
correct disposition.
need to have the correct disposition applied.
33 Correspondent Lending
Dispositions available are:
• Payoff
Credit Report Information If accessing credit direct through Agency (DU, LP) the following will need to be completed:
1. Select Method of Retrieval
a. Desktop Underwriter
b. Loan Prospector
4. Input the credit reference number
5. Click Order Credit
34 Correspondent Lending
Liabilities from the credit report will populate in the Liabilities section at the bottom of the page:
These liabilities will need to be disposition appropriately or the imported liabilities can be deleted.
35 Correspondent Lending
Schedule of Real Estate This section of the system allows for review of any owned real estate and associating of liabilities.
This page contains the following section:
• Subject Property and Current Residence.
• Other Property
Subject Property and Current Residence This section will allow the ability to associate a liability with the correct property.
• Ensure the street address, disposition, value and property type are correct
• Click Add Liens
• Window will populate and allow for selection of correct liability. Select the appropriate liability
and click OK
This will allow the ability to associate the appropriate liability with the corresponding property.
36 Correspondent Lending
• Declarations
Declarations The Declarations Section provides information regarding Credit/Citizenship/Residence.
The responses to questions in the Declarations section will enable lenders to determine whether an
applicant qualifies.
All questions should be answered for both the Borrower and Co-Borrower, imported on the 3.2 file.
37 Correspondent Lending
Info for Government Monitoring The Home Mortgage Disclosure Act (HMDA) was enacted by Congress in 1975 and was implemented
by the Federal Reserve Board's Regulation C. On July 21, 2011, the rule-writing authority of
Regulation C was transferred to the Consumer Financial Protection Bureau (CFPB). This regulation
provides the public loan data that can be used to assist:
• In determining whether financial institutions are serving the housing needs of their communities
• Public officials in distributing public-sector investments so as to attract private investment to areas where it is needed
• In identifying possible discriminatory lending patterns
The information should be answered based on the 3.2 file import. Confirm all information is present.
Click Save and Continue at the bottom of this page to continue to the Due Diligence Loan
Summary page for locking options.
38 Correspondent Lending
Loan Summary Page The Loan Summary Page offers an overview of the loan transaction and pricing information.
Locking the Loan Upon reaching the Loan Summary Page, a Lock button will appear in the bottom right corner of the
page. Click Lock to proceed to pricing.
Register Lock The system will redirect to the Register Lock page. The following required (RED) items should be
reviewed for accuracy:
• Client Loan Number
39 Correspondent Lending
Pricing Fields Pricing Fields are required in order for the system to appropriately and accurately price the loan.
Confirm all information is accurate according to the loan purpose.
Product and Rate The Note Rate should be prepopulated based on the 3.2 file import. The Desired Lock Period and the
Product will need to be selected from the available options in the dropdowns.
Upon selecting the lock period and product, click Price at the bottom of the page.
40 Correspondent Lending
The system will price according to investor product eligibility and display available programs and
products. All information, once the loan is priced, in unavailable for modification and will be greyed
out.
Eligible Programs Eligible programs will be displayed at the bottom of the page. Review the base price and additional
pricing parameters to determine if the results meet requirements of the loan. If the loan needs to be
re-priced, re-enter the desired note rate, lock period, and product and select Price. The system will
again run the loan through eligibility and render eligible pricing parameters for review.
If the rate and price are acceptable, select the Lock button at the bottom of the page.
41 Correspondent Lending
Lock Notification Upon clicking Lock, the system should respond with a successful lock notification.
Click the Go to Summary Page to review the lock.
Extending the Lock If the lock is close to expiration and required extension, the request is completed via the Loan
Summary Page.
• Search for the loan or select from the My Pipeline
• Loan Summary Page displays
42 Correspondent Lending
Cancel the Lock If the Lock requires cancellation, the request is completed in the Loan Summary Page.
• Search for the loan or select from the My Pipeline
• Loan Summary Page displays
• Lock is canceled
• Once the notification is approved (OK) the Lock Status will update and appear as “Lock
Cancelled” as illustrated below.
Relock the Loan This option allows the user to relock from the new Due Diligence Loan Summary page. By completing
a Search on the borrower loan file, the system will redirect to the Loan Summary page.
1. Select Search Loans from the Choose A Loan menu
2. Enter search criteria (first name/last name)
3. Hit Search at the bottom of the page
43 Correspondent Lending
Relock Pop-up window Upon clicking the Relock button on the Loan Summary page, the following popup will generate,
requesting the user to confirm the existing lock and current market pricing options. Click Save at the
bottom of the page to register the new lock parameters.
44 Correspondent Lending
Upload Pre-Close Package To submit the loan for Pre-Close Review, the full pre-close package must be uploaded for review. To
upload a package follow the below instructions:
1. Select Upload Documents from the Document Management Menu
2. Browse and select the desired file
3. Click Upload File
6. Click Submit
7. The system will provide a notification that the file was submitted for review and successfully
uploaded
Reviewing Loan Conditions Once the Underwriter completes review, conditions will be added to the loan file. Conditions are
satisfied by uploading documentation through the eOriginator View Conditions page.
View Loan Conditions Under the Services menu, select View Loan Conditions. The loan conditions will be listed as well as
when they are needed:
• New
• Cleared
• Waived
All New, Prior to Approval conditions, will need to satisfied in order to receive a Final Approval on the
loan.
46 Correspondent Lending
Uploading Documents to Conditions Follow the steps below to upload documents to conditions:
1. Click the Doc Upload checkbox on the condition line for which documents are being uploaded
2. Click Browse and select a file
3. Enter a description of the document to be uploaded
4. Click Upload
Upon upload the system will provide a notification of successful upload. The Last Upload Date/Time
will also populate with a date and time stamp. Click on the date/time stamp to bring up a copy of the
document uploaded.
47 Correspondent Lending
Resubmit for Document Review Once conditions have been successfully uploaded to the condition, the loan will need to be
resubmitted to Underwriting for Pre-Close Underwrite Conditions.
1. Select Submit Loan from the Services Menu
2. Select Submit Pre-Close Underwrite Condit ions from the Loan Submission dropdown
3. Click Submit
Once successfully submitted, the system will provide a notification of “Thank you for requesting Due
Diligence”
The process of uploading documents and requesting review will continue until all Prior to Final
Approval conditions are satisfied. Once all loan conditions are satisfied, the loan will be status as
Final Approved. This completes the Pre-Close Review process.
48 Correspondent Lending
Pre-Purchase Review Upon receiving Final Approval on the Pre-Close Review transaction, the loan is available for Pre-
Purchase Review.
Uploading Closed Loan Package Prior to requesting Pre-Purchase Review, the closed loan package will need to be uploaded to the
file.
1. Select the file from My Pipeline or Quick Search
2. Select Large File Upload from the Document Management Menu
3. Browse and select the desired file
4. Click Upload File
49 Correspondent Lending
7. Click Submit
8. The system will provide a notification that the file was submitted for review and successfully
uploaded
When the Underwriter completes review, conditions will be added to the loan file. Conditions are
satisfied by uploading documentation through the eOriginator View Conditions page.
View Loan Conditions If it is found that items need to be satisfied prior to purchase, conditions will be applied to the loan
and it will be status as Loan Review with Findings. Under the Services menu, select View Loan
Condit ions. The loan conditions will be listed as well as when they are needed:
• Prior to Purchase
• New
• Cleared
• Waived
All New, Prior to Purchase conditions will need to satisfied in order to receive a status of Loan Review
Complete. Upon reviewing conditions please note that all Prior to Final Approval conditions from the
Pre-Close review will be viewable, however they will show a status of Cleared. All conditions listed as
Prior to Purchase will need to be cleared to receive a Loan Review Complete status.
50 Correspondent Lending
Uploading Documents to Conditions Follow the steps outlined below to upload documents to conditions:
1. Click the Doc Upload checkbox on the condition line for which documents are being uploaded
2. Click Browse and select a file
3. Enter a description of the document to be uploaded
4. Click Upload
Upon upload, the system will provide a notification of successful upload. The Last Upload Date/Time will also populate with a date and time stamp. Click on the date/time stamp generate a copy of the
document uploaded.
51 Correspondent Lending
Resubmit for Review Once conditions have been successfully uploaded to the condition, the loan will need to be
resubmitted to Underwriting for Pre-Purchase Review.
1. Select Submit Loan from the Services Menu
2. Select Submit Pre-Purchase Review from the Loan Submission dropdown
3. Click Submit
Once successfully submitted, the system will provide a notification of “Thank you for requesting Due
Diligence”
The process of uploading documents and requesting review will continue until all Prior to Purchase
conditions are satisfied. Once all loan conditions are satisfied, the loan will be status as Loan Review
Complete. This completes the Pre-Purchase Review process.
52 Correspondent Lending
Funding Funding Memo Process When the loan reaches a Loan Review Complete status, internal LenderLive employees receive an
automatic notification to review collateral, for purchase. Upon completion of internal LenderLive
review, an auto queue is sent to the seller of Final Price Approval (Final price review and data
discrepancies are now complete).
Final Price Review After the review takes place internally, the system will provide an email notification to the Seller
advising file review is complete. This will send the Seller an email notification that they need to
approve the Final Price.
Under Task menu → Choose Work Queues → Final Price Review
Select the desired loan from the populated list
53 Correspondent Lending
Compare Data at time of lock against data after loan review.
54 Correspondent Lending
Ultimately, take note of the final price under Loan Review Complete
Select Warehouse Bank from dropdown
Approve button will enable and select
At this point the file is submitted to the Investor (LenderLive) for the Funding Memo process
55 Correspondent Lending
Approving the Funding Memo Follow the steps below to approve the Funding Memo after receiving queue from LenderLive.
Seller Receives Queue to approve Funding Memo
The Seller will receive an email notification
The user will log into the system
Under Task menu → Select Funding Memo Review
This will display the whole pipeline of Funding Memo to approve
Select appropriate Funding Memo
This will render the Funding Memo Summary page
Select Accept/Decline: Once selected the system will redirect back to Funding Memo pipeline
This action completed the Funding process and the transaction is complete.
56 Correspondent Lending
Services The Services section of the navigation bar provides access for a seller to communicate with the
Review staff.
Track Loan Status
Track Loan Status The system is designed to allow the ability to track and view all milestone events in the loan process,
allowing for complete transparency.
• Select Track Loan Status from the navigation bar
Status History will populate in chronological order with the most recent event listed first. Task
information is comprised of the task, date/time stamp, as well as identifying who committed the
task. Notes associated with the task will also be shown.
57 Correspondent Lending
Status reflected in the Track Loan Status screen will be directly related to actions taken prior to
submission as well as life of the loan within the Review Department. This allows for full transparency
into the loan transaction from every phase of submission through funding.
Document Management
The Document Management section allows for easy access to all documents associated with the
loan transaction. Examples of these items include:
• Underwriting Approval
View Documents
View Documents When a document is imaged to the file, the system provides the option to view and/or print each
document. The system also has version history, providing the ability to view and print prior versions
of documentation. The document tree is set up to provide various folders for separation of
documentation associated to the loan file.
58 Correspondent Lending
To view all document folders click Expand All. This will open the document tree and expose all folder
and sub folders. To view just subcategories associated with a specific folder, expand the selection by
clicking on the (+) of a folder.
As shown in the example above, when expending the Application Documents folder, subfolders become available. Expanding the subfolders allow for view into the documents imaged to the folder. The more (+) selected, the further layers populate.
Follow the steps below to access/open documents for viewing:
1. Select View Documents
3. Click on the document
59 Correspondent Lending
An internet browser will open with a PDF format of the document.
Print the form or save to a location on your desktop or alternate location.
Document Versions Documents are versioned with the most recent being first. This is identified by the date/time stamp
located next to the document name.
60 Correspondent Lending
Previous Document Versions Follow the below steps to review previous versions:
• Select the desired document
• Expand the document selection (+)
• Expend Previous Versions
* If a previous version exists, the system will denote that with a message of “The current document
is version (X) and the previous version will be available for viewing.
Example:
To view the previously pulled credit report, expand Underwriting, expand Credit, expand Credit
Report, and expand Previous Versions.
61 Correspondent Lending
Email: [email protected]
Summary Page
Declarations/HMDA/Interviewer Information
Summary Page .............................................................................................................................. 15
Assets ............................................................................................................................................ 29
Declarations/HMDA/Interviewer Information ............................................................................. 36
Locking the Loan ........................................................................................................................... 38
View Loan Conditions.................................................................................................................... 49
Resubmit for Review ..................................................................................................................... 51
Track Loan Status .......................................................................................................................... 56
5 Correspondent Lending
Introduction The purpose of this client job aid is to give LenderLive Network’s correspondent customers a
reference on how to use the EOriginator system to complete submission/locking/submitting
conditions and general usage of the system for non-delegated and delegated correspondent clients.
This section outlines LenderLive’s proprietary loan origination environment in an effort to provide
additional familiarization with the site.
This section will review the following:
The Website
The Website eOriginator is proprietary, robust software that powers a loan originators point of sale, assisting with
the completion of Pre-Close and Post Close review processes. Among the many features available,
one can obtain automated pricing and automatic locking, easy upload features, management of
communication and purchase requirements, and underwriting decisions. eOriginator also serves as
an information portal into the seller’s loan pipeline.
LenderLive’s paperless web environment streamlines the management of all loan files, providing
real-time access to view and manage electronic loan files.
6 Correspondent Lending
Accessing the Website This section will provide direction on how to access the eOriginator site and create the necessary
password.
System Requirements
Creating a New Password
System Requirements The eOriginator site is available using IE7 or above, Firefox or Chrome.
Accessing the Site To access the eOriginator site, follow the below URL:
Site Login The login screen will appear as shown below:
Complete the following steps to access the site:
• Enter the Client ID
• Enter the provided Password
8 Correspondent Lending
Forgot your Password? In the circumstance a password is forgotten; it may reset by simply clicking “Forgot Password” on the
main login screen.
9 Correspondent Lending
Notification will be provided advising that the password reset has been successful:
The system will generate and email a generic password to the email address associated with the
User profile.
10 Correspondent Lending
Creating a New Password The newly created password must contain a combination of letters, numbers, and special characters.
It cannot be a word found in the dictionary when the numbers and special characters are removed.
The “old” password will auto fill into the data fields. Create a new password, verify the password,
complete the New Password Hint, and click Submit.
Example of incorrect password convention:
4pas8sw#ord!
Pa$$w0rd
W3!c0m3!
11 Correspondent Lending
Home Page The eOriginator Home page is the hub for loan communication and pipeline management.
This section will review the following:
Data Depot
Quick Search
Data Depot The Data Depot is located at the top of the eOriginator Home page. It is populated and visible when a
loan is selected and provides a snapshot of the Borrower/Loan information.
• Property Address • Phone Number • Purpose
• Borrower Name • Fulfillment ID • Underwriter
12 Correspondent Lending
Quick Search The Quick Search option allows the ability to search the pipeline for a specific loan by any of the
following criteria:
• Servicer Loan Number
• Property Address
13 Correspondent Lending
Main Menu The Main Menu allows access to view the Home Page, Message Page, and to Log Out.
This section will review the following:
Home
Message Page
Log Out
Home By selecting the Home from the navigation bar, the system will redirect to the main Home Page. From
here, access is available to the Navigation Icons for quick system navigation and to view high level
loan information.
Log Out
14 Correspondent Lending
Choose A Loan – Existing Loans This section allows for several options and manners in which to search and select a loan transaction.
This section will review the following:
My Pipeline
Search Loans Summary Page
Check In/Check Out Loans
My Pipeline By selecting My Pipeline from the navigation bar, the system will populate a list of all loans currently
registered or submitted to LenderLive, in various stages, according to user profile.
The pipeline can be sorted by the following criteria:
Status Loan ID Seller
Borrower Name State Rate
Price Loan Amount Program
15 Correspondent Lending
Selecting a Loan from My Pipeline To select a loan from the My Pipeline, simply click on the desired name in the Borrower Name
column.
By completing this action the system will redirect to the Summary Page for the selected loan.
Summary Page Once a Borrower has been selected, the system will redirect to a loan summary page, which provides
a snapshot of the loan transaction.
16 Correspondent Lending
Check Out Loan In an effort to protect the integrity of the loan application, only one individual can modify the loan at
any given time.
In order to modify loan data, once the loan populates on the page, click the Check Out Loan box
located in the Data Depot.
Once the necessary modifications have been completed, click the Check In Loan box. This will make
the loan available for another User.
Search Loans The Search Loans function allows you to search the pipeline of loans at a more granular level. Loans
can be searched by the following criteria:
17 Correspondent Lending
• SSN • Email Address • Subject Address
• Phone Number • Loan Type • Agency Number
To enhance the timing of the search function, select the appropriate Loan Status first to narrow the
data return.
• Withdrawn
Enter all other applicable loan search criteria and click Search. The results will render on that page for review.
18 Correspondent Lending
Choose a Loan - Create New Loan The Create New Loan section of the navigation bar allows three (3) methods to remit a loan
application. This section includes the following processes:
Import Loan File
Import Loan File The system allows the ability to import a FNMA 3.2 file or DU Case File ID for quick upload. Follow the
instructions below to import a loan file:
• Select Import Loan File from the left navigation bar
• Check the box for “I am the Contact Person” o Contact information will populate based on login credentials
o Manual entry of the Contact Person for the loan transaction may also be done
Select Browse and choose the appropriate file from the directory
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• Once located, click Open. The path of the file will be displayed in the address bar
• Click Validate File
The system will then provide the opportunity to enter Interviewer Information, prior to importing the
loan. This section may be skipped as it is not necessary for the Pre-Close and Pre-Purchase Review
processes.
Error Messages If any errors exist in the 3.2 file import, they will be listed at the bottom of the page. Stop and review
all errors to confirm if any items need to be addressed, prior to importing the file.
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Loan Menu The Loan Menu provides access into all portions of the loan application and follows the format of the
1003 application.
Applicant Information Employment Assets
Declarations Loan Summary
• Findings • Contact Person
• Applicant Information • Previous Residence Info
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Contact Person This section identifies the contact person for the loan transaction. This can be indicative of the Loan
Officer, Processor, or Borrower. This section should be populated based on the initial file import
process.
Interviewer Information This information does not need to be completed if the information was contained in the 3.2 file
import. If not, click the “Use my LO info” to generate information.
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Loan Information The Loan Information section provides the option to select the purpose branch associated to the
loan transaction, the purpose of the loan, lien position, loan amount, and loan type. Please indicate
whether the loan will be used to purchase or refinance residential property. If the loan is for
residential construction or if a second lien is being requested, indicate in this section.
Purchase
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.
zip, county, purchase price (if applicable), appraised value, year built, occupancy, property type, and
title vesting information.
Be sure to select the County from the dropdown. Counties do not populate and import on a
3.2 file. This will need to be manually selected.
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States available in the dropdown will be applicable to your organizations lending platform. Upon
selecting the State, additional fields such as City, Zip and County will generate for selection.
Applicant Information The Applicant Information section will outline the following for the Borrower and Co-Borrower:
• Current address
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Review all information to confirm accuracy of the 3.2 file import and make any necessary
corrections/additions.
Previous Residence If the Borrower(s) have less than 2 years in the current residence, a previous residence must be
entered. Click Add Previous Residence button at the bottom of the screen to prompt the system to
populate the previous residence data entry field, if not imported from the 3.2 file.
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Additional Applicants If there are more than two Borrowers or non-occupant Co-Borrowers associated with the loan
transaction,
The Additional Applicants tab will appear on the Applicant Information page and allow for review of additional borrower information that would have imported from the 3.2 file.
Click on the Additional Applicants tab to review the additional Borrower(s) to the loan transaction.
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Employment In order to determine the Borrower(s) ability to repay the mortgage loan requested, the lender must
be informed of the applicant’s monthly income.
The employment and income will be uploaded for all Borrower(s), on the Employment page. This
page contains the following sections:
• Primary Employment and Income • Non-Employment Income
• Other Employment and Income • Previous Employment and Income
Primary Employment and Income Review the employer name, address, and applicable job position information including monthly base
salary and start dates for all borrowers on the loan transaction.
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• Annuity
• Trust
• Pension
Review the Non Employment Income section to confirm the appropriate information is present:
Other Employment and Income The Other Employment and Income section is available to review a second job. If any of the
Borrower(s) are working a job in addition to his/her current employment, the information will need to
be entered in this section of the Employment page. This information should be uploaded in the 3.2
file import.
Previous Employment and Income For some loan transactions, additional loan data elements may be required. If the Borrower(s) have
been employed at the current employer for less than 2 years, a previous employment record may
need to be entered.
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Review the Previous Employment information imported on the 3.2 file for accuracy.
Assets The Assets section is used to record relevant financial information regarding a Borrower(s) assets
and liabilities, which may be meaningful for the transaction.
The Assets will be confirmed for all Borrower(s) on the Assets page. This page contains the following
sections:
• Assets • Down Payment (purchase applicable)
In this section, information regarding which Borrower owns the asset, asset type, account name,
number, and value will be validated.
If more data entry fields are necessary, click Add Asset to populate additional rows.
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Credit and Liabilities The Credit and Liabilities section allows for systematic population of all Borrower(s) liabilities.
This page contains the following sections:
Manual Credit Entry
Stated Credit
Stated Score If entering a stated score for loan transaction pricing, enter the credit report mid score into this data field. This would be the score being utilized for pricing of the loan transaction, from the bureau
previously pulled. Enter that number in the Credit Score field.
Credit information may be entered in one of three ways:
1. Manually (user entered)
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Manual Credit Entry To enter credit manually:
• Click on Save and Add New Liability in the liabilities section. A blank row will appear
• Complete the account information by using the dropdown fields or typing the information in the free form fields
• To enter more data fields, click Save and Add New Liability to populate additional rows
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Deleting a Liability In the instance a manually created liability needs to be removed, click the Delete box next to the
liability, and click Delete.
Import If importing a file into eOriginator, the liabilities contained in the upload will auto populate into the
liabilities section of the Credit and Liabilities page. These liabilities will need to be identified with the
correct disposition.
need to have the correct disposition applied.
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Dispositions available are:
• Payoff
Credit Report Information If accessing credit direct through Agency (DU, LP) the following will need to be completed:
1. Select Method of Retrieval
a. Desktop Underwriter
b. Loan Prospector
4. Input the credit reference number
5. Click Order Credit
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Liabilities from the credit report will populate in the Liabilities section at the bottom of the page:
These liabilities will need to be disposition appropriately or the imported liabilities can be deleted.
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Schedule of Real Estate This section of the system allows for review of any owned real estate and associating of liabilities.
This page contains the following section:
• Subject Property and Current Residence.
• Other Property
Subject Property and Current Residence This section will allow the ability to associate a liability with the correct property.
• Ensure the street address, disposition, value and property type are correct
• Click Add Liens
• Window will populate and allow for selection of correct liability. Select the appropriate liability
and click OK
This will allow the ability to associate the appropriate liability with the corresponding property.
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• Declarations
Declarations The Declarations Section provides information regarding Credit/Citizenship/Residence.
The responses to questions in the Declarations section will enable lenders to determine whether an
applicant qualifies.
All questions should be answered for both the Borrower and Co-Borrower, imported on the 3.2 file.
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Info for Government Monitoring The Home Mortgage Disclosure Act (HMDA) was enacted by Congress in 1975 and was implemented
by the Federal Reserve Board's Regulation C. On July 21, 2011, the rule-writing authority of
Regulation C was transferred to the Consumer Financial Protection Bureau (CFPB). This regulation
provides the public loan data that can be used to assist:
• In determining whether financial institutions are serving the housing needs of their communities
• Public officials in distributing public-sector investments so as to attract private investment to areas where it is needed
• In identifying possible discriminatory lending patterns
The information should be answered based on the 3.2 file import. Confirm all information is present.
Click Save and Continue at the bottom of this page to continue to the Due Diligence Loan
Summary page for locking options.
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Loan Summary Page The Loan Summary Page offers an overview of the loan transaction and pricing information.
Locking the Loan Upon reaching the Loan Summary Page, a Lock button will appear in the bottom right corner of the
page. Click Lock to proceed to pricing.
Register Lock The system will redirect to the Register Lock page. The following required (RED) items should be
reviewed for accuracy:
• Client Loan Number
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Pricing Fields Pricing Fields are required in order for the system to appropriately and accurately price the loan.
Confirm all information is accurate according to the loan purpose.
Product and Rate The Note Rate should be prepopulated based on the 3.2 file import. The Desired Lock Period and the
Product will need to be selected from the available options in the dropdowns.
Upon selecting the lock period and product, click Price at the bottom of the page.
40 Correspondent Lending
The system will price according to investor product eligibility and display available programs and
products. All information, once the loan is priced, in unavailable for modification and will be greyed
out.
Eligible Programs Eligible programs will be displayed at the bottom of the page. Review the base price and additional
pricing parameters to determine if the results meet requirements of the loan. If the loan needs to be
re-priced, re-enter the desired note rate, lock period, and product and select Price. The system will
again run the loan through eligibility and render eligible pricing parameters for review.
If the rate and price are acceptable, select the Lock button at the bottom of the page.
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Lock Notification Upon clicking Lock, the system should respond with a successful lock notification.
Click the Go to Summary Page to review the lock.
Extending the Lock If the lock is close to expiration and required extension, the request is completed via the Loan
Summary Page.
• Search for the loan or select from the My Pipeline
• Loan Summary Page displays
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Cancel the Lock If the Lock requires cancellation, the request is completed in the Loan Summary Page.
• Search for the loan or select from the My Pipeline
• Loan Summary Page displays
• Lock is canceled
• Once the notification is approved (OK) the Lock Status will update and appear as “Lock
Cancelled” as illustrated below.
Relock the Loan This option allows the user to relock from the new Due Diligence Loan Summary page. By completing
a Search on the borrower loan file, the system will redirect to the Loan Summary page.
1. Select Search Loans from the Choose A Loan menu
2. Enter search criteria (first name/last name)
3. Hit Search at the bottom of the page
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Relock Pop-up window Upon clicking the Relock button on the Loan Summary page, the following popup will generate,
requesting the user to confirm the existing lock and current market pricing options. Click Save at the
bottom of the page to register the new lock parameters.
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Upload Pre-Close Package To submit the loan for Pre-Close Review, the full pre-close package must be uploaded for review. To
upload a package follow the below instructions:
1. Select Upload Documents from the Document Management Menu
2. Browse and select the desired file
3. Click Upload File
6. Click Submit
7. The system will provide a notification that the file was submitted for review and successfully
uploaded
Reviewing Loan Conditions Once the Underwriter completes review, conditions will be added to the loan file. Conditions are
satisfied by uploading documentation through the eOriginator View Conditions page.
View Loan Conditions Under the Services menu, select View Loan Conditions. The loan conditions will be listed as well as
when they are needed:
• New
• Cleared
• Waived
All New, Prior to Approval conditions, will need to satisfied in order to receive a Final Approval on the
loan.
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Uploading Documents to Conditions Follow the steps below to upload documents to conditions:
1. Click the Doc Upload checkbox on the condition line for which documents are being uploaded
2. Click Browse and select a file
3. Enter a description of the document to be uploaded
4. Click Upload
Upon upload the system will provide a notification of successful upload. The Last Upload Date/Time
will also populate with a date and time stamp. Click on the date/time stamp to bring up a copy of the
document uploaded.
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Resubmit for Document Review Once conditions have been successfully uploaded to the condition, the loan will need to be
resubmitted to Underwriting for Pre-Close Underwrite Conditions.
1. Select Submit Loan from the Services Menu
2. Select Submit Pre-Close Underwrite Condit ions from the Loan Submission dropdown
3. Click Submit
Once successfully submitted, the system will provide a notification of “Thank you for requesting Due
Diligence”
The process of uploading documents and requesting review will continue until all Prior to Final
Approval conditions are satisfied. Once all loan conditions are satisfied, the loan will be status as
Final Approved. This completes the Pre-Close Review process.
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Pre-Purchase Review Upon receiving Final Approval on the Pre-Close Review transaction, the loan is available for Pre-
Purchase Review.
Uploading Closed Loan Package Prior to requesting Pre-Purchase Review, the closed loan package will need to be uploaded to the
file.
1. Select the file from My Pipeline or Quick Search
2. Select Large File Upload from the Document Management Menu
3. Browse and select the desired file
4. Click Upload File
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7. Click Submit
8. The system will provide a notification that the file was submitted for review and successfully
uploaded
When the Underwriter completes review, conditions will be added to the loan file. Conditions are
satisfied by uploading documentation through the eOriginator View Conditions page.
View Loan Conditions If it is found that items need to be satisfied prior to purchase, conditions will be applied to the loan
and it will be status as Loan Review with Findings. Under the Services menu, select View Loan
Condit ions. The loan conditions will be listed as well as when they are needed:
• Prior to Purchase
• New
• Cleared
• Waived
All New, Prior to Purchase conditions will need to satisfied in order to receive a status of Loan Review
Complete. Upon reviewing conditions please note that all Prior to Final Approval conditions from the
Pre-Close review will be viewable, however they will show a status of Cleared. All conditions listed as
Prior to Purchase will need to be cleared to receive a Loan Review Complete status.
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Uploading Documents to Conditions Follow the steps outlined below to upload documents to conditions:
1. Click the Doc Upload checkbox on the condition line for which documents are being uploaded
2. Click Browse and select a file
3. Enter a description of the document to be uploaded
4. Click Upload
Upon upload, the system will provide a notification of successful upload. The Last Upload Date/Time will also populate with a date and time stamp. Click on the date/time stamp generate a copy of the
document uploaded.
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Resubmit for Review Once conditions have been successfully uploaded to the condition, the loan will need to be
resubmitted to Underwriting for Pre-Purchase Review.
1. Select Submit Loan from the Services Menu
2. Select Submit Pre-Purchase Review from the Loan Submission dropdown
3. Click Submit
Once successfully submitted, the system will provide a notification of “Thank you for requesting Due
Diligence”
The process of uploading documents and requesting review will continue until all Prior to Purchase
conditions are satisfied. Once all loan conditions are satisfied, the loan will be status as Loan Review
Complete. This completes the Pre-Purchase Review process.
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Funding Funding Memo Process When the loan reaches a Loan Review Complete status, internal LenderLive employees receive an
automatic notification to review collateral, for purchase. Upon completion of internal LenderLive
review, an auto queue is sent to the seller of Final Price Approval (Final price review and data
discrepancies are now complete).
Final Price Review After the review takes place internally, the system will provide an email notification to the Seller
advising file review is complete. This will send the Seller an email notification that they need to
approve the Final Price.
Under Task menu → Choose Work Queues → Final Price Review
Select the desired loan from the populated list
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Compare Data at time of lock against data after loan review.
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Ultimately, take note of the final price under Loan Review Complete
Select Warehouse Bank from dropdown
Approve button will enable and select
At this point the file is submitted to the Investor (LenderLive) for the Funding Memo process
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Approving the Funding Memo Follow the steps below to approve the Funding Memo after receiving queue from LenderLive.
Seller Receives Queue to approve Funding Memo
The Seller will receive an email notification
The user will log into the system
Under Task menu → Select Funding Memo Review
This will display the whole pipeline of Funding Memo to approve
Select appropriate Funding Memo
This will render the Funding Memo Summary page
Select Accept/Decline: Once selected the system will redirect back to Funding Memo pipeline
This action completed the Funding process and the transaction is complete.
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Services The Services section of the navigation bar provides access for a seller to communicate with the
Review staff.
Track Loan Status
Track Loan Status The system is designed to allow the ability to track and view all milestone events in the loan process,
allowing for complete transparency.
• Select Track Loan Status from the navigation bar
Status History will populate in chronological order with the most recent event listed first. Task
information is comprised of the task, date/time stamp, as well as identifying who committed the
task. Notes associated with the task will also be shown.
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Status reflected in the Track Loan Status screen will be directly related to actions taken prior to
submission as well as life of the loan within the Review Department. This allows for full transparency
into the loan transaction from every phase of submission through funding.
Document Management
The Document Management section allows for easy access to all documents associated with the
loan transaction. Examples of these items include:
• Underwriting Approval
View Documents
View Documents When a document is imaged to the file, the system provides the option to view and/or print each
document. The system also has version history, providing the ability to view and print prior versions
of documentation. The document tree is set up to provide various folders for separation of
documentation associated to the loan file.
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To view all document folders click Expand All. This will open the document tree and expose all folder
and sub folders. To view just subcategories associated with a specific folder, expand the selection by
clicking on the (+) of a folder.
As shown in the example above, when expending the Application Documents folder, subfolders become available. Expanding the subfolders allow for view into the documents imaged to the folder. The more (+) selected, the further layers populate.
Follow the steps below to access/open documents for viewing:
1. Select View Documents
3. Click on the document
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An internet browser will open with a PDF format of the document.
Print the form or save to a location on your desktop or alternate location.
Document Versions Documents are versioned with the most recent being first. This is identified by the date/time stamp
located next to the document name.
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Previous Document Versions Follow the below steps to review previous versions:
• Select the desired document
• Expand the document selection (+)
• Expend Previous Versions
* If a previous version exists, the system will denote that with a message of “The current document
is version (X) and the previous version will be available for viewing.
Example:
To view the previously pulled credit report, expand Underwriting, expand Credit, expand Credit
Report, and expand Previous Versions.
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Email: [email protected]
Summary Page
Declarations/HMDA/Interviewer Information
