NEW ENC360 WORKFLOW LOAN PROCESSORS

1 NEW ENC360 WORKFLOW loan PROCESSORS AFN-F-Pro_NewEnc360 WORKFLOW -LP Rev. 11/01/2013 Page 1 of 7 1. Pipeline View: The default pipeline view will show you all loans that are in your pipeline and at which milestone each loan currently is. You can toggle between All Loans and My Loans in the event you need to see loans assigned to other loan PROCESSORS . NOTE: If You Start Files for the LO: See the New ENC360 WORKFLOW loan Originators document for loan opening instructions. 2. Moving Loans: When a loan Officer finishes the App Received milestone and selects you as the loan processor , the loan will appear in your pipeline view. The loan will reside in the Prospects folder and you will move it to the Pipeline folder. At this point the LO has read only access to the loan . 3. Tasks/Required Fields If there are Tasks or Required Fields listed on the Submittal Worksheet (the screen that appears when you click the Submittal milestone), use them as a guide (in addition to this WORKFLOW document) for completing the milestone.

2 4. eFolder (Filing and Reviewing Documents): The eFolder is Encompass360 s paperless system. When the file is received in processing, the initial disclosures should be present in the eFolder and ready for filing and review. Click the [eFolder] button to access file documents. a. Click the [File Manager] button to review and organize documents. The file manager screen displays document names on the left under the Unassigned and Documents headings, and has a File Viewer window on the right. When a document image is selected (with a single click), a column of image thumbnails appears. b. Click the + next to each document name to reveal document images that are stored beneath them. TIP: If you click the narrow blue bar between the Unassigned and Documents sections it will expand the Documents list and minimize the need to scroll up and down through the list. c. When the documents were retrieved (or imported) to the eFolder, they were filed under document placeholders in the eFolder.

3 To review documents and ensure they are ready for Underwriting, first file them as follows: Using the organization chart below, click and drag images that are under separate document names to one Document Placeholder name (as applicable). Important: If a Placeholder Name isn t listed, move all of the disclosures to the first document listed in Documents to Include column and you can change the name later in this procedure. Document Placeholder Documents to Include Gen 1003 (Initial) Initial 1003s for all Borrowers Disclosures GFE (Initial) Disclosures AFN Notice of Intent to Proceed Disclosures GFE (Initial) Disclosures 2010 Itemization Disclosures Settlement Service Provider NEW ENC360 WORKFLOW loan PROCESSORS AFN-F-Pro_NewEnc360 WORKFLOW -LP Rev. 11/01/2013 Page 2 of 7 Document Placeholder Documents to Include Disclosures GFE Re-disclosed Disclosures Change of Circumstance Disclosures GFE Disclosures 2010 Itemization Disclosures TIL (Initial) Federal Truth-in-Lending Disclosure Statement Itemization of Amount Financed Disclosures TIL Re-Disclosed TIL Itemization of Amount Financed Disclosures State Specific Disclosures All disclosures that are state-specific ( most CA state disclosures start with CA) Disclosures FHA/VA Disclosures All government disclosures should be placed under this Document Placeholder Disclosures Misc Initial Disclosures All other disclosures not categorized above ( Consent, ECOA, Servicing Disclosure, etc.)

4 When finished moving document images as instructed above, click the [Close] button to close the File Manager window. Select all of the Document Placeholder names that you emptied (there will be no image icon or paperclip icon next to the document name) by holding down the [Ctrl] key and clicking each empty document name. Release the [Ctrl] key and click the Delete button. d. Double-click a document name to review the document(s) filed under it and perform additional tasks; the Document Details window will appear. This window is split into 4 sections as shown below. NEW ENC360 WORKFLOW loan PROCESSORS AFN-F-Pro_NewEnc360 WORKFLOW -LP Rev. 11/01/2013 Page 3 of 7 e. Using the chart in Step above, ensure the document group has the correct name. In the example above, you would click the Name field under Details and select Disclosures Misc Initial Disclosures. f. If a stacking order is specified in the chart in Step above, you can rearrange the documents that appear in the Files section of the screen by selecting a document and using the Move File Up / Move File Down icons.

5 G. Click each document under the Files heading (one at a time) to review it in the File Viewer section of the screen. Check the document for proper completion and required signatures. Under the Tracking section of the screen, click one of the following: o Ready for UW if the document (or document group) is OK; or o Re-requested if the document (or document group) is not OK. An entry will be made under the App Received milestone for each document (or document group) reviewed, similar to those shown below: 5. Accepting a File for Processing a. Determine if the file, as received from the LO, is ready for processing. All needed items received; and All received items properly completed and signed. b. Go to the file Log and click the Send to Processing milestone. c. If the file is incomplete and you wish to return it to the loan Officer, click the [Return File to] button to push the file back to the loan Officer. d. If the file is ready for processing, click the [Accept File] button, then: Click the [ ] Finish checkbox.

6 Access the GFE and ensure the [ ] Borrower intends to continue with this loan checkbox is checked. 6. Get MI: An alert will pop up advising you to Get MI when a value is entered or changed in the following fields: 1) Subject Property Appraised Value 2) Subject Property Estimated Value 3) Transaction Details Agency Case Number 4) Transaction Details Interest Rate 5) Transaction Details Lien Position 6) Transaction Details loan Amount 7) Transaction Details loan Type 8) Transaction Details LTV 9) Transaction Details Purchase Price 10) Transaction Details Purpose of loan 11) Transaction Details Term NEW ENC360 WORKFLOW loan PROCESSORS AFN-F-Pro_NewEnc360 WORKFLOW -LP Rev. 11/01/2013 Page 4 of 7 To re-calculate MI, go to the Total Monthly Payment and select/edit Mtg Ins then click the [Get MI] button. 7. File Contacts: You are responsible for entering file contacts for vendor services; this information must be completed prior to submitting the loan to Underwriting.

7 A. Go to the [Tools] tab and select the File Contacts option. b. Scroll down to see additional File Contacts options. c. Complete, at a minimum, File Contacts 30 46 (as required on the file). 8. Order Services a. Go to the [Services] tab. b. Order each service needed for the file. 9. eFolder (Uploading and Splitting/Filing Documents) a. Uploading Documents You can upload any miscellaneous documentation you have received from the borrower and saved to your computer ( copy of Driver s License, Bank Statements, etc.) by entering the eFolder, clicking the [Add] button and then using the Browse and Attach feature. Be sure to name the document in the upper left corner of the Document Details screen, otherwise it will come in as Untitled. OR You can upload miscellaneous documentation by opening a PDF you have received, clicking Print and selecting Encompass eFolder as your printer. IMPORTANT NOTE: It is against company policy to keep borrower information on your computer desktop or your computer s local (C:) drive.

8 After documentation has been uploaded to the eFolder you must remove it from your computer. b. Splitting/Filing Documents While in the eFolder, click the [File] button to open the file manager. Click on a document you want to file or split. Click the document thumbnail image that appears between the document list and the document view and drag it to its proper place in the document list. o Disclosure GFE: The GFE, Itemized Fee Worksheet and Settlement Service Provider forms should all be filed under this document name. o Disclosure TIL: The TIL and Itemization forms should both be filed under this document name. c. See the Encompass eFolder Quick Reference Guide for more information. 10. File Access Encompass360 Banker is a start-to-finish system and only allows one user to edit a file at a time. After you complete the Submittal milestone, which submits the file to Underwriting, you must exit the file so the Underwriter can access it and begin underwriting.

9 NEW ENC360 WORKFLOW loan PROCESSORS AFN-F-Pro_NewEnc360 WORKFLOW -LP Rev. 11/01/2013 Page 5 of 7 When a user is in a file, it can only be accessed by others in read only mode. After completing the Submittal milestone, you will have read only access to some fields; therefore you must ensure that all data entry is complete and correct before submittal in order avoid delays after submittal. Following are examples of fields to double-check: o Ensure the Property Address fields have been checked against the Prelim and corrected in Encompass if necessary. o Ensure the Borrower Income is correct. 11. Milestone Completion (Submittal) a. Submittal When the file is ready to submit to Underwriting: Click the Log tab and select the Submittal milestone. Click the spyglass next to the Underwriter field and select the file Underwriter (or the Underwriting Group). Click the [ ] Finish checkbox. The file will appear on the Underwriter s default pipeline view.

10 B. Decisioned When a file is Decisioned by an Underwriter, there will be one of three possible results: 1) Approved with Conditions: The file will advance to the Conditional Approval milestone and the loan processor will start providing documentation to satisfy the Underwriter s conditions. 2) Suspended: When an Underwriter enters a Suspended date, the processor s Submittal milestone completion will be reversed and file status will revert back to Sent to Processing; this allows the loan processor to re-work the file as needed to prepare for re-submission to Underwriting (to the same Underwriter, and new loan submission turn times will apply). o Underwriter Will Not Suspend if items are missing that would be needed before an actual approval (or denial) can be issued; the loan will show as Approved but will have PTA (Prior to Approval) conditions. o Underwriter Will Suspend if borrowers do not qualify, file needs to be re-worked, co-borrowers need to be added (these are examples of reasons to suspend a file) 3) Denied: When an Underwriter enters a Denied date, the file will stay at the Decisioned milestone (and will later be moved to the Canceled/Denied folder in another WORKFLOW procedure).