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REMN Initial Disclosures/LE (HUB)

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Theresa Protasio
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Request REMN Prepared Initial Disclosure Package
REMN offers the convenience of preparing and sending the Initial Disclosure package to the borrower(s) on behalf of approved brokers.
REMN will provide:
• All federal and state required disclosures including the Loan Estimate (LE)
• All FHA disclosures except:
­ Lead based paint disclosure (purchase)
­ Amendatory clause (purchase)
­ ARM disclosure (purchase and refinance)
• All VA disclosures except:
­ Initial Loan Comparison dated within 3 business days of REMN initial disclosures (VA Cash-Out Refi and IRRRLs)
­ ARM disclosure (purchase and refinance)
Important: It is the brokers responsibility to provide all other product specific disclosures directly to the borrower(s) including all USDA disclosures.
Process Overview:
1. A loan disclosure package is requested by selecting Loan for Disclosure Only.
2. A REMN Disclosure Specialist generates and sends a draft LE to the Broker for approval.
3. Upon Broker approval, the initial disclosure package is generated and sent to the borrower(s). The Broker Mortgage Loan Originator will electronically receive disclosures to e-Sign.
4. The Broker mortgage loan originator must e-Sign at the time the initial disclosures are received or when the loan is received by REMN.
5. The Borrower and Broker have 10 calendar days from the date REMN issues the disclosures to electronically sign via email link.
6. Once the Broker and borrower have electronically signed all disclosures, The Broker must Submit to Setup in the HUB.
• The Broker must upload the minimum required submission documentation (if not submitted with initial request).
• The Broker must return to the Loan Submission screen to Submit to Loan Setup.
Document Requirements:
• Broker credit report or AUS findings
• Contract of Sale (purchase loans only)
• Max Mortgage Worksheet (renovation loans only).
Notes:
• REMN cannot proceed with initial disclosure preparation or submission to underwriting until all required documents are received. REMN’s standard turn times apply for loans that have all required documentation.
• TBD properties are not supported at this time, however REMN will send the Initial LE on behalf of the Broker. The Broker is responsible for the remainder of the initial application package disclosures.

 

 

 

Step

Action
1.

From the Home screen select Import Loan File under Loan Registration.

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2.

Click Browse to navigate to the .fnm file on your computer.

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3.

Double-click the .fnm file and click Open.

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4.

Click Proceed to pull the .fnm information into the Broker Portal.

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Helpful Tip:  While warnings are informational and should be reviewed, they will not stop you from requesting disclosure.

5.

Review the fields in the order they appear for any missing or incorrect information.  The dropdown lists are dependent on the information entered earlier on the screen.

·       All required information is indicated by a *

·       Missing required information indicated by mceclip5.png

·       User changed information is marked by red indicator in the corner of the field.

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Helpful Tip:  You must enter the Loan Application Date and the Estimated Settlement Date.
6.

Click Register at the bottom of the screen.

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7.

A popup message will display the Loan Number and confirm the Registration.

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Import MISMO 3.4 file

Step

Action

        1         

From the home screen select Import Loan File under Loan Registration.

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        2         

Select MISMO 3.4 Submission and click the Browse button to navigate to the 3.4 file.mceclip2.png

        3         

Double-click the .xml file.mceclip3.png

        4         

Click Proceed to pull the loan information into The HUB.mceclip4.png

Helpful Tip:  The Exceptions section will warn of any issues with a detailed Error Message. These warnings are informational and will not stop you from proceeding with the file.

        5         

Review the fields in the order they appear for any missing or incorrect information.  The dropdown lists are dependent on the information entered earlier on the screen.

·       All required information is indicated by a *

·       Missing required information indicated by mceclip6.png

·       User changed information is marked by red indicator in the corner of the field.

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Helpful Tip:  You will need to manually enter the Loan Application Date, Settlement Date, and the Qualifying Credit Score.

        6         

Click Register at the bottom of the screen.

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        7         

A pop up message will display the Loan Number and confirm the Registration.

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Upload Documents

To request a REMN generated Initial Disclosure Package, Brokers must complete and upload:

·       Broker credit report or AUS findings

·       Contract of Sale (purchase loans only)

·       Max Mortgage Worksheet (renovation loans only)

 

Step

Action

          1            

Click Loan Processing to open the menu then Upload/View Documents.

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          2            

Click Upload Documents at the bottom of the screen.

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          3            

·   Category and Doc Type will auto complete.

·   Description – as applicable.

·   Click Browse to navigate to the Borrower’s documents on your computer

-or-

Drag and Drop the file on the button.

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Notes: 

·       Only PDF's, TIFF's, TXT, HTM, HTML and XML can be uploaded.

·       Only 1 file may be added at a time with drag and drop.

          4            

·       Click Add to upload the credit report and/or other additional documents.

·       Click Browse to navigate to the documents.

·       Click Upload to send the documents to REMN.

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          5            

Successfully uploaded files will display under Broker Uploaded Documents.

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Submit for Disclosures

Step

Action

          1            

Select Loan Submission to open the menu and click Loan Submission.

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          2            

·       Enter the TRID/RESPA application date (must be within three (3) days of the application date).

·       Select Submit for Loan Disclosures Only.

·       Click the Compliance Cert button.

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          3            

·       The Compliance Certifications window will open.

·       Place checkmarks to certify:

Safe Harbor

Fee Certification

Acknowledgement

·       Click the Proceed button.

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          4            

Click the Submit Loan button.

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          5            

Click Yes to confirm the submission.

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E-Sign Instructions - Broker Mortgage Loan Originator

The Mortgage Loan Originator is required to e-Sign certain mortgage loan documents when REMN generates the initial disclosure package.

Note:  If not e-Signed, the Mortgage Loan Originator is required to provide a wet signed 1003 prior to the loan being submitted to underwriting. To expedite a quick credit decision, e-Signed documents are preferred.

 

Step

Action

          1            

·       You will receive an email from docmailer@solex.com.

o   Subject:  {loan number} – eDisclosures Ready to Sign.

·       Click Doc Link to begin.

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Notes: 

·       The link will expire in 10 days and REMN cannot resend the link.

·       You will receive a email reminder to E-sign your documents if the Doc Link is not accessed in 24hr.

          2            

A Solex window will appear. Click SIGN IN.

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          3            

A Consent window will open.

·       Review the Electronic Records and Signatures Agreement.

·       Click ACCEPT to receive and sign your documents electronically and continue.

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          4            

Review all the documents to begin signing.

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          5            

After reviewing the documents, click Start to begin signing.

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          6            

Click the Sign button to electronically sign and date where indicated.

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          7            

Upon completion, click SUBMIT to send your signed documents.

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          8            

Click the icons to save or print your signed mortgage documents. Click SIGN OUT to end the session.

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