Originating a High Tech Lending

1
Originating a High Tech Lending New Loan
Application in Encompass
2
Log into Encompass with the specific user name
and password provided by our HTLA administrator
Make sure the server address reflects
https//server.hightechlending.com/encompass
3
Highlight the Pipeline tab at the top left of
the screen, and select Prospects in the Loan
Folder drop-down list. Click the New button on
the right hand side, which will open a subsequent
selection screen
4
When the Select Loan Template window appears,
you will be required to select a loan type from
the list. Once you have highlighted either a
Conventional, FHA, or VA mortgage loan type, be
SURE to check the Append Template Data box (see
below). Click Select Template to proceed to
the loan application screens.
5
Click on the Forms tab to display a list of
screens where you must enter borrower
information. You will be required to enter data
on the Borrower Summary, 1003 Page 1, 1003
Page 2, 1003 Page 3, (and 1003 Page 4 in some
instances).
6
Highlight the HTL Borrower Summary -
Origination option, and begin entering your
borrowers info name, DOB, SS, contact info,
present address and previous address (if
necessary) to reflect the most recent 24-month
residency history. Do not leave any gaps in the
24-month timeline!
7
If you have a married spouse who is participating
as a Co-Borrower on the loan, enter the
appropriate information on the right side of the
screen in the Co-Borrower data fields. You can
click on the Copy from Borrower button to
duplicate partial current and previous address
information.
8
If you have a Co-Borrower on the loan who IS NOT
MARRIED to the Primary Borrower, you must show
this person as a Co-Mortgagor. Click on
Borrowers at the top of the screen then click
on Add a Co-Mortgagor from the drop down list.
New screens will display to collect pertinent
information on the Co-Mortgagor and include this
individual when processing and underwriting the
loan.
9
Encompass will ask that you obtain a credit
report for each borrower. You must minimize
the Encompass screen and proceed to another
website to accomplish this. However BEFORE
ELECTRONICALLY REQUESTING CREDIT FOR YOUR
BORROWER(S), YOU MUST OBTAIN WRITTEN PERMISSION
FROM THEM on a specific form! Provide your
borrower(s) with the Borrower Signature
Authorization form (see next slide) located on
the HTLA website, and obtain their signature(s)
authorizing a credit report to be pulled. This
form must be signed and completed and IN YOUR
POSSESSION prior to pulling each and every credit
report!
10
The borrower(s) must sign and date the bottom of
the form and return it to you before credit can
be pulled. They must also provide their social
security numbers on this form.
11
https//swcsi.meridianlink.com

• You must now Order a Credit Report for each
  borrower using SWCSIs Website

12
After minimizing your Encompass screens
containing your partially completed loan data
open a new browser and type in the following
websitehttps//swcsi.meridianlink.com

• Enter the following login information at the
  System Login screen
• Login juliat_at_htl
• Password jthawley1

13
Security Certificate

• Using the keypad provided, answer the security
  question as follows
• MOJADO
• Then click Continue to proceed

14
Main Page

• The web page will automatically open to the
  Desktop
• Click on New Report

15
New Report Order Screen

• Fill in the required data fields
• Name
• Social Security
• Address, etc.
• Check box to Pay by Credit Card
• Click Order

16
Credit card payment screen

• Will automatically pop-up
• Can be paid by clients (consumer) or agents
  card credit card
• Fill in all data fields, including the amount
  of 21.00

17
Report Returns

• In a few seconds, your report will be ready
• Can be viewed as a Web or Adobe document
• Can be printed on letter or legal

18

• NOTE You must write down the credit report
  number on a piece of paper, so you can enter this
  info later in an Encompass data field when
  retrieving the report!

19
Closing Out of the Southwest Credit Services
Website

• Once you have successfully pulled and
  viewed/printed your borrower(s) credit report -
  and have written down the report number for
  future use - you may exit the Southwest website
  by clicking on the x at the top of the screen.
  You are now ready to resume entering your
  borrowers loan data into Encompass by
  maximizing the Encompass screens.

20
When you have gone back into your borrowers
Encompass file, click on the Order Credit
button on the Borrower Summary screen to
retrieve the Southwest Credit Services credit
report. (See next screen for example)
21
Click on the My ePASS Providers tab, scroll
down the selection list, and highlight Southwest
Credit Services. Click the Submit button at the
bottom of the screen to be taken to the Southwest
Credit Services login screen, retrieve the data,
and import the information into your Encompass
screens.
22
Type in your SWCSI login info, check Save
Password, and select Import From Website from
the Order Method drop down list. You MUST then
enter the credit report file number you wrote
down when credit was pulled on the SWCSI website
in order to identify the proper report, and click
the Finish button.
Individual or Joint report 21.00
23
The borrower(s) 3 credit scores should populate
in the data fields please manually type the
MIDDLE score of the 3 for each borrower in the
Minimum FICO field. Click Import Liabilities
to populate the monthly debt information on Page
2 of the loan application.
24
Fill in the subject property address for this
loan request. If the subject property is the
same as the borrowers current residence, you may
click the Copy from Present Address button to
auto-populate the fields. Next, select the
Property Type from the drop down list, and show
the Estimated and Appraised Values as the same
amount since an appraisal has not yet been
ordered.
25
Transaction Details section Always type High
Tech Lending as the Lender. Double click on
Loan Program to review and select a specific
loan folder (see next screen). The Closing
Cost filed will automatically populate for you
based on the Loan Program you selected
previously. A loan number will now be assigned.
26
Highlight a loan program listed in the folder. If
you are not sure which loan program to select,
highlight the program you feel best reflects your
borrowers wishes. (Your Loan Coordinator can
assist you in revising the Loan Program when you
transmit the loan data to him/her at a later
time.) You may leave the Note Rate (Interest
Rate) field blank your Loan Coordinator will
also assist you in selecting the Interest Rate.
27
Select a Loan Documentation Type from the drop
down list. Check the appropriate boxes for
Purpose of Loan, Occupancy Type, Loan Type, Lien
Position, and Amortization Type. If this is an
Interest Only loan, put the number of months of
interest only payments in the data field. If the
subject property has rental income, enter the
Gross Rent Amount and show the Occupancy Rate as
75.
28
If the loan is a purchase transaction, enter the
Purchase Price and Down Payment or Dollar
Amount. The Loan Amount field will calculate for
you. It is imperative that you enter an Estimated
Closing Date in the data field. Do NOT complete
Lock Date or Income fields at this time.
29
You are NOT authorized to order an Appraisal,
Flood
Certification or Title Policy This will be
done by the Processor once the electronic loan
data has been reviewed for accuracy and
completeness by your Loan Coordinator.
30
Next - Click on 1003 Page 1 Make sure boxes are
checked properly for Loan Type, Lien Position,
and Amortization Type. If there is subordinate
financing that will remain in place, click the
button and fill in the proper data fields. The
Purchase Price and Loan Amount should
auto-populate from data entered on the Borrower
Summary screen.
31
Subject Property data should auto-populate from
the Borrower Summary screen. Add the name of the
County, the of Units (1 to 4), and the Year
Built. Make sure the Purpose of the Loan,
Occupancy of the Subject Property, and subject
property rental income field auto-populated
correctly.
32
If the subject loan is a Construction Loan or a
Refinance Loan, fill in the proper data fields as
necessary. List names to be placed on Title, the
manner in which Title will be Held, and select if
the Estate will be held as Fee Simple or
Leasehold. Also select a Source of Down Payment
from the drop-down box.
33
Most of the Borrower Information should
auto-populate from previous data input. However,
you will be required to list the number of
dependents and their ages. Make sure you have
given a full 24-month residency history for all
borrowers. If you need to add a Previous Address
to complete the 24-month history, click Show All
(VOR), then click New to add another address.
34
The Employment Information section must contain
the most recent 24-month employment history for
all borrowers. Complete this section in its
entirety for each job the borrower has held in
the previous 2 years. To add screens so you can
input data for previous employers, simply click
the Show All (VOE) button and add your new data.
35
Next - 1003 Page 2 List all sources of Gross
Monthly Income the Borrower receives base pay,
overtime, bonuses, commissions, etc. Click on
the Base button to access an income calculator
to provide aid in accurately computing this
figure. If you have listed Other Income, you
must select a Description from the drop-down
box.
36
Next, complete the Monthly Housing Expenses
section, listing the borrowers current monthly
rental amount OR existing mortgage payment on
his/her PRIMARY residence. Be sure to list any
2nd lien payments, monthly taxes, insurance, MI,
and HOA dues that are paid separate from the
existing mortgage payment. Your Loan Coordinator
will assist you in completely the Proposed
Housing Expense figures.
37
It is important to show all current Assets for
the Borrower, including cash deposits for a
purchase, checking and savings accounts, stocks
bonds, IRAs, 401ks, etc. Click the Show All
(VOD) button to add a new asset for most of the
categories stated above.
38
Liabilities Section If the credit report
liabilities have NOT auto-populated in this
section, simply click the Import Liabilities
button. Each account with an open balance on the
credit report will be displayed. Using the
drop-down box beside each account, select an
option to state the type of liability. If the
tradeline has been paid in full but the credit
report still shows a balance, check the paid
off box beside the appropriate vendor so the
coordinator/processor/underwriter can exclude the
monthly debt from the debt ratio.
39
If the Borrower is obligated to pay monthly Child
Support or Alimony or has monthly job-related
out of pocket expenses, you MUST include those
liabilities at the bottom of this screen. These
liabilities must be considered when computing the
debt ratio of the loan.
40
Schedule of Real Estate Owned (REO) This is a
very important screen which associates each
mortgage liability shown on the credit report
with a property address. Click on the Show All
(VOM) button, then click on the New button on
the following screen to access data fields you
must complete. (see next screen)
41
List all properties the Borrower currently owns,
one at a time, by clicking on the New button.
Fill in the required data fields that appear for
each property, then click on the Attach/Show
Liens to identify which credit report liability
applies to each property. All mortgage liens on
the credit report MUST be associated with a
property address! Also make sure to enter any
gross monthly rental income for all properties
other than the subject property plus a 75 of
rental figure on this screen
42
Answer all Declarations questions at the bottom
of the screen, paying particular attention to
questions about current or past negative credit.
43
Answer all Government Monitoring info for each
borrower, including ethnicity, race and gender
questions.
44
If there are additional assets or liabilities
that could not fit on pages 2-3 of the 1003, they
will display on the 1003 Page 4. Please use
this page to also send Comments to your Loan
Coordinator such as the best time of day and
phone number to reach you and your borrower.
45
Be sure to SAVE each screen of your loan
application as you complete it, and click SAVE
and EXIT LOAN when you have finished the loan
application!
46
YOU MUST NOW NOTIFY YOUR LOAN COORDINATOR VIA
EMAIL THAT THE ELECTRONIC LOAN APPLICATION IS
READY FOR HIS/HER REVIEW, ISSUANCE OF INITIAL
DISCLOSURES, AND FURTHER PROCESSING.
47
IMPORTANT INSTRUCTIONS Send the
Loan Coordinator an email advising of the loan
data you have entered into the pipeline list the
Borrrowers name and the subject property
address You must also fax/scan borrowers
supporting documents (paystubs, bank statements,
IRA or 401k statements, etc.) to the LC for
review. (Review the PreApplication Checklist
posted online for more information prior to
taking the loan application.) Contact information
for LC Kim Hankins Email
kimberly_at_loanprocessingsolutions.net Phone
530-878-4704 office
916-313-8804 fax Address 50 Edelweiss
Lane Colfax, CA 95713
48
HTLA will provide weekly Webinar trainings on
HTL Loan Origination using Encompass to ensure
your questions are answered, and you feel
confident in taking a loan application! _________
__________________ You may contact Nancy Stockley
at nancystockley_at_gmail.com with any loan
origination questions you may have.