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Document Imaging System Training

Join us for a training session on the Document Imaging System, where we will cover the upload procedure, compliance files, wire requests and more. This training will provide an overview of the system and updates on new functionality.

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Document Imaging System Training

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Presentation Transcript

  1. Welcome Document Imaging System Training Dial in number: (559) 546-1000 Participant Access Code: 297334#

  2. Webinar Agenda 5/27/2015 • 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

  3. Document Imaging System Overview 6/10/2015 • 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

  4. Document Imaging System Overview (cont.)Accessing the System 6/10/2015 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

  5. 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 6/10/2015

  6. 6/10/2015 Uploading a Compliance File

  7. Uploading Compliance File Overview 6/10/2015 • 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

  8. Uploading Compliance File (cont.) Select “View Loan Detail” 6/10/2015

  9. Uploading Compliance File (cont.) Insert MFA 1st Mortgage loan number Click “Retrieve Loan” All Compliance Packages are uploaded by using the 1stMortgage loan number 6/10/2015

  10. 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

  11. 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

  12. Uploading Compliance File (cont.)Index Sheets and Checklists 6/10/2015 Sample index sheets Sample checklists printed from the system.

  13. Uploading Compliance File (cont.) Select scanned .pdf file from your saved location Click “Upload” to import loan file into the system 6/10/2015

  14. Uploading Compliance File (cont.) 2. Click “Process Now” to import .pdf file into the system 1. Notice from system that the pdf file was uploaded and ready to be imported. • 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

  15. 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

  16. Uploading Compliance File (cont.)Notification of Submission to MFA 6/10/2015 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

  17. Uploading Compliance File (cont.)Notification of Submission to Lender 6/10/2015 • 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: MFA <DoNotReply@housingnm.org> To: Person who logged into the system and uploaded the file Subject: 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)

  18. Uploading Compliance File (cont.) 6/10/2015 Questions on the process of uploading a Compliance File?

  19. Compliance Suspense Conditions 6/10/2015 Retrieval of Compliance Suspense Condition sheet

  20. Retrieval of Compliance Suspense Conditions 6/10/2015 • 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

  21. 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

  22. Retrieval of Compliance Suspense Conditions (Cont.) 6/10/2015 Sample printout for the Compliance Suspense Conditions

  23. 6/10/2015 Upload of Compliance Suspense Conditions

  24. Upload of Compliance Suspense Conditions (Cont.) • Click “Browse” button to locate scanned .pdf from your saved location • Click “Upload” to import suspense conditions into the system 6/10/2015

  25. 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

  26. Uploading Compliance Suspense Conditions (cont.)Notification of Submission to MFA 6/10/2015 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

  27. Notification of Outstanding Compliance Suspense Conditions 6/10/2015 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 )

  28. 6/10/2015 Notification of Compliance Approval and Printing Approval/Commitment Letters

  29. Notification of Compliance Approval 6/10/2015 • An e-mail message to the lender is generated when the loan is Compliance Approved • Example of the email the lender will receive: MFA DoNotReply@housingnm.org To: Person who logged into the system and uploaded the file Subject: Loan Status Change Notice for loan reserved with MFA Loan Number: 102817 Mortgagor: JAMES TEST Old Status: COMPLIANCE SUSPENSE New Status: COMPLIANCE APPROVAL

  30. 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

  31. 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

  32. 6/10/2015 Down Payment Assistance (“DPA”) Wire Requests

  33. DPA Wire Request Process 6/10/2015 • 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

  34. Uploading DPA Wire RequestMortgage 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

  35. 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

  36. Uploading DPA Wire RequestMortgage$aver Plus and HERO Click “Document Images” 1. Retrieve 1stmortgage loan number (Do not use the loan number that has a P or TBA after the number) 6/10/2015

  37. 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

  38. 6/10/2015 Down Payment Assistance (“DPA”) Closed Loan Package

  39. Closed Loan Package Submission Process 6/10/2015 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)

  40. 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

  41. DPA Closed Loan PackageStacking the file 6/10/2015 • 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

  42. Uploading the DPAClosed 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

  43. Retrieval of Closed Loan Suspense Conditions 6/10/2015 • Lender can retrieve suspense conditions from system • Suspense Conditions are stacked in order listed on Closed Loan Suspense conditions

  44. Retrieval of Closed LoanSuspense 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

  45. Uploading DPAClosed 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

  46. Quality of Compliance File and Suspense Conditions 6/10/2015 • 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.

  47. Clarification of Turn Times 6/10/2015 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.

  48. Clarification of Turn Times 6/10/2015 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

  49. Sole & Separate Guideline Change 6/10/2015 • 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

  50. Compliance Review Addendum 6/10/2015 • 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

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