Non-Fee Related Changes
Step |
Action |
1 |
Open the loan, select Loan Processing in the Menu, then Change of Circumstance. |
2 |
Type the reason for the Change of Circumstance request into the Miscellaneous Reason field and click Submit. |
3 |
A pop up will confirm the COC request. Click Ok to return to the loan and upload the COC applicable documents: · Updated 1003 · Updated/New Fee Invoices · Most Recent Loan Estimate (Emerging Banker Only) Helpful Tip: Click Print COC Request to save or print for future reference. |
4 |
Submitted requests will display in the Submission History. |
Add a Fee
To add a fee that would require a Change of Circumstance re-disclosure, follow the steps below. |
|
Step |
Action |
1 |
Once you have opened the loan, select Loan Processing in the Menu, then Change of Circumstance. |
2 |
Click the Add New Fee button. |
3 |
The Add Fee pop up window will open allowing you to enter the details of the fee. · Select the LE/CD Section from the dropdown menu. · Select the Fee Identifier from the dropdown menu. · The Fee description and Service Provider Type will auto populate. · Select the Vendor Relationship in the dropdown menu, · Enter the amount of the fee in the appropriate box indicating who will pay and when. |
4 |
The New Fee will be added to the list of fees. · Select the Circumstance Reason field and type in the reason for the Change of Circumstance. · And click Submit |
5 |
A pop up will confirm your COC request. Click Ok to return to the loan and upload the COC applicable documents: · Updated 1003 · Updated/New Fee Invoices · Most Recent Loan Estimate (Emerging Banker Only) Helpful Tip: Click Print COC Request to save or print for future reference. |
Add an Escrow
To add an escrow that would require a Change of Circumstance re-disclosure, follow the steps below. |
|
Step |
Action |
1 |
Open the loan, select Loan Processing in the Menu, then click Change of Circumstance. |
2 |
Click the Add New Escrow button. |
3 |
· Select the Escrow Item from the dropdown list. · Enter the Annual Amount Due and the Months Collected. · Cushion Months will reflect the required cushion based on the subject property state. · Click Save. |
4 |
The New Escrow Item will be added to the list of fees. Select the Circumstance Reason field for the new escrow and type in the reason for the Change of Circumstance, and click Submit. |
5 |
A pop up will confirm your COC request. Click Ok to return to the loan and upload the COC applicable documents: · Updated 1003 · Updated/New Fee Invoices · Most Recent Loan Estimate (Emerging Banker Only) Helpful Tip: Click Print COC Request to save or print for future reference. |
Change Fees or Escrows
To request a change to a fee or escrow that would require a Change of Circumstance re-disclosure, follow the steps below. |
|
Step |
Action |
1 |
Open the loan, select Loan Processing in the Menu, and select Change of Circumstance. |
2 |
· Place a check next to the fee or escrow to be updated. · Make changes to Requested Borrower Amount and/or Seller Amount. · Enter the Circumstance Reason. · Click Submit.
|
3 |
A pop up will confirm the COC request. Click Ok to return to the loan and upload the COC applicable documents: · Updated 1003 · Updated/New Fee Invoices · Most Recent Loan Estimate (Emerging Banker Only) |
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