Transcription
LoanEstimate Service(formerly SmartGFE)Administrator GuideEllie Mae Encompass360 Banker VersionRelease 09072015
2 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideContentsTable of ContentsContents. 2Introduction . 3Accessing the LoanEstimate Service via Encompass360 . 5Questions and Answers . 8Fee Summary Tab . 11Export Fee Data to Encompass . 13The Encompass 2015 Itemization Form . 14The Encompass Settlement Service Provider List . 17Encompass Customizations and Business Rules . 19Change Auto-Selected Providers . 21View Provider Details & Add Fees . 22Edit Recording Fees/Transfer Taxes . 24Change in Circumstance . 27Add a Service Category (Pest, Chimney, etc.). 31View/Print Compliance Certificate . 34Set Up Preferences . 35Refer a Provider . 39Create Users . 40“Who Pays” Rule for Transfer Taxes . 43Reissue Rates for Refinance Transactions . 44Suppress Seller Fees (Transfer Taxes) . 47Need Help? 1-866-256-7464 . 48LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
3 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideIntroductionImportant RESPA/TILA NoteEncompass loan files that contain SmartGFE data that were created before October 2, 2015, that are subsequentlyconverted to RESPA-TILA 2015 format may include the Settlement Fee twice, resulting in an over-disclosure on theLoan Estimate.The fees may appear as follows on the 2015 Itemization:Affected lenders will need to re-run the SmartGFE/LoanEstimate Service and remove the value in the Escrow Fee linein order to disclose accurate fees on the Loan Estimate.Information from the CFPB’s Compliance Guide follows: http://files.consumerfinance.gov/f/201508 cfpb tila-respaintegrated-disclosure-rule.pdf--For transactions where the application is received prior to October 3, 2015, creditors will still need to followthe current disclosure requirements under Regulations X and Z, and use the existing forms (Truth-in-Lendingdisclosures, GFE, HUD-1).Creditors will still be required to use the GFE, HUD-1, and Truth-in-Lending forms for applications receivedprior to October 3, 2015. As the applications received prior to October 3, 2015 are consummated, withdrawn,or cancelled, the use of the GFE, HUD-1, and Truth-inLending forms will no longer be used for most mortgageloans.LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
4 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideThe ClosingCorp LoanEstimate Service is integrated with Ellie Mae Encompass360 (Banker Version) to providequick and easy access to nationwide service provider data as well as recording fees and transfer taxes. Thisdata is backed by a compliance guarantee covering the fees that appear on the Loan Estimate Disclosure(formerly GFE blocks 3 (Appraisal Management Companies) through 8). The LoanEstimate Service alsopopulates the Settlement Services Provider List (SSPL) form in Encompass, including the fees for the new SSPLdisclosure forms (optional).Use it to save time, reduce tolerance violations, improve your customers’ experience, and create competitiveLoan Estimates so that you can close more loans.The name and location of the fees on the Loan Estimate Disclosure (Can vs. Cannot Shop, etc.) will depend onlender preferences and can be configured during our onboarding process.LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
5 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideAccessing the LoanEstimate Service viaEncompass360 Add basic data (property address, loan parameters) to the borrower loan file in Encompass360 andsave (typically the Borrower Summary – Origination form).Click on the “Services” tab on the left of your screen or through the Encompass menus.Click “Order Additional Services” from the list. Select the “All Providers” tabScroll down the list and select SmartGFE. Click “Add to My List”LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
6 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideThe LoanEstimate Service will be saved to “My Providers” tab and appear as SmartGFE.The first time a user logs in they will be required to enter either a License KEY or their Username andPassword provided by ClosingCorp Click “Login”The password timeout can be set to ensure end users never have to re-enter login credentials. The expirationtime is configurable depending on Lender security preferences.LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
7 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideOnce logged in, the loan information from your Encompass360 file populates to the “File Data” and“Questions” screens. You will typically be directed to the “Questions” tab to complete any required, nondefaulted questions that apply to the transaction.Note that the LoanEstimate Service will appear in the Encompass Services View tab.LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
8 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideQuestions and AnswersUsers will typically see the “Questions” screen after launching the LoanEstimate Service. Most of thesequestions will already have answers either because the data was in Encompass or ClosingCorp has provided aRESPA/TILA safe default response. Note that if the end user modifies a ClosingCorp default value and it resultsin a tolerance violation, the tolerance cure may not be covered by ClosingCorp (please refer to your contractfor specifics). Required questions are identified with a red asterisk next to the question*.IMPORTANT – Make sure your answers are accurate because your answers will determine the calculations forrecording fees and transfer taxes.LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
9 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideIf your company has the Appraisal Management Services category set up, select the “Appraisal ProductName” by clicking on the link to select the product type you need for the file in order for the service to returnthe appraisal fee.The Customize section at the bottom of the screen allows users to modify answers specific to the filetransaction and taxing authority. The questions in this section have default answers chosen by ClosingCorp toensure compliance. For example, if you need to add fees for a subordination or power of attorney, answer questionsrelated to these document types in this section.This section will also have transaction specific questions so that fees like First Time Homebuyer taxcredits and New York CEMA transactions can be calculated.You must answer all questions in this section accurately if they apply to your transaction to ensurecorrect calculations.Note the questions in this section are defaulted so you will only need to make changes in this section ifthey apply to the transaction.LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
10 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideClick “Continue to Fees” when you are done. Note that users can return to the Questions tab at any time tomake modifications, including changes required for a Change in Circumstance.LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
11 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideFee Summary TabOnce all required questions have been answered the LoanEstimate Service will direct users to the Fees tab. Ifa transaction requires no question review, users will be automatically directed to the Fees tab.Providers and associated fees for services will appear on the Fees screen based upon the provider closest tothe subject property or with any company rules that have been set up (See “Set up Providers” to learn how toset up user provider preferences).If no other fee categories are needed you are ready to export the fees to Encompass360 and create aCompliance Certificate.LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
12 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideThe Recording Fees / Transfer Taxes section on the Fees tabLoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
13 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideExport Fee Data to EncompassOnce the fees have been calculated they need to be sent or “Exported” to the Encompass 2015 FeeItemization and SSPL forms.The LoanEstimate service includes two buttons to accomplish the export at the top and bottom of the Fee tablabeled “Export to Encompass”. These buttons are identical and two are provided for convenience.The fee export process will send the fee data from the “Fees” tab back to the 2015 Itemization form inEncompass360 along with a Compliance Certificate (as a PDF in the eFolder). After 3-4 seconds, a window willappear to notify you when the export to Encompass360 is complete. Click “OK”.Click on the Loan tab to return to the Encompass360 loan file.LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
14 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideThe Encompass 2015 Itemization FormOnce the fees have been calculated they need to be sent or “Exported” to the Encompass 2015 FeeItemization form.Once the fees are in Encompass, users can open the “2015 Itemization” form to review the fees.Note: The ClosingCorp Loan Estimate Service typically provides fees for AMC, Title, Settlement, InspectionServices, Recording Fees and Transfer taxes only. You will need to make sure you follow your companyprocedures to ensure that fees for other categories are complete before finalizing your Loan Estimate.The Encompass 2015 Itemization form was created to include functionality required to support the TRIDchanges that took effect on October 3, 2015. The ClosingCorp LoanEstimate service was updated to work withthese Encompass changes. Some capabilities of the Encompass integration include: We can flag Paid to Type as Affiliated for providers that are identified as Lender Affiliates We can check the “Borrower can shop for” box which controls the disclosure category fees on the LoanEstimate We can check the APR flag per fee based on Lender preference The ability to write the provider name to the To fields on the fee itemization Various updates to support the new 2015 Itemization form structure for Settlement FeesLoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
15 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideThe APR and Affiliate status are highlighted with red boxes below. Lenders can control the appearance andlocation of fees in various ways: Fee names are adjustable to ensure compliance with tools like Mavent Fee destinations are configurable (you can move E Doc Fee to 1110 for instance) Fees can be bundled together to accommodate the limited slots available in EncompassNew to the 2015 Itemization form are the iconsfor each fee.on the left which will expose a more detailed configurationLoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
16 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideThe fee details window appears when clicking the icon. If the Provider has been identified as a Lenderaffiliate by the Lender during account configuration process, the Paid to Type will be set to Affiliate.Lenders can also designate service categories with Can Shop or Cannot Shop status. For instance, if a Lenderwould like Title and Settlement fees to appear in Section C on the Loan Estimate (“Services You Can Shop For”)instead of the Encompass default of Section B, that can be enabled via a configuration independently forPurchase and Refinance transactions.LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
17 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideThe Encompass Settlement Service Provider ListAfter fees have been exported to Encompass, navigate to the Settlement Service Provider List form. Inaddition to populating the SSPL form with Provider contact information, ClosingCorp can also: Reserve lines on the Provider List section to prevent over-writing of existing Lender data Check or uncheck the “Cannot shop for” box which supports both versions of the new SSPL Optionally include fee descriptions and amounts which match the LEThere are two versions of the new SSPL form, one includes the ability to include providers (like AMC) that theBorrower cannot shop for in a separate section (see below). Depending on the Document solution used thisLoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
18 -- LoanEstimate Service (formerly SmartGFE) Administrator Guideform may be available. Note the Estimate column on the disclosure below. The fees from the EncompassSSPL form will appear in this column.LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
19 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideEncompass Customizations and Business RulesEncompass can be configured to enhance the ClosingCorp LoanEstimate integration. Some of the commoncustomizations are described in this section.ClosingCorp Loan Estimate ButtonIf the Lender would like a button on a form to launch the LoanEstimate Service, a custom Encompass formwith an image button can be used. Forms can be created and customized with the Encompass Form Buildertool. The Click Event will need to trigger the following:Macro.ExecSignature("http:// EPASS SIGNATURE;PAPI;2;EM.SmartGFE")Business RulesThe ClosingCorp LoanEstimate Service can trigger Encompass Field Trigger Business rules. This can be helpfulin multiple scenarios including but not limited to: Tracking how many loan files are associated with ClosingCorp data Using milestone rules to enforce the use of ClosingCorp services Validating that the Loan Officer/Processors remember to export the data back to Encompass Adjusting field specific details (auto-selecting “Borrower Selected”, etc.) that cannot be configured byClosingCorpTo enable business rules for the LoanEstimate Service, the Lender will need to create a custom field for theClosingCorp Date/Time stamp. ClosingCorp will push back a new date/time stamp every time we export toEncompass.LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
20 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideThe lender will also need a Field Trigger type business rule which will monitor the new custom field for exportactions.*Note that any custom business rules set up by Lenders are the responsibility of the Lender and should betested and regression tested on a regular basis to ensure operability and performance. The EllieMaeProfessional Services team can assist with more advanced configurations.LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
21 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideChange Auto-Selected ProvidersTo change a provider from the Fees tab:Under the provider you wish to edit, click “Select Provider”To select a new provider, click “Add to File”.This will take you back to the “Fees” screen where you can export your data to Encompass360.LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
22 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideView Provider Details & Add FeesFrom the “Fees” tab, click “Details” below the provider name.Add any additional fees you need based upon your transaction and the total fee for the provider will beadjusted. In the example below, a Quit Claim or Other Accommodation Deed fee can be added manually bythe user if this fee is needed.SmartFees are commonly charged fees that the LoanEstimate service has pre-selected for the user for titleand settlement services thereby eliminating additional steps that users would normally have to perform oneach new file. SmartFees are always pre-selected for Title and Settlement services.LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
23 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideTo view pre-selected endorsements (SmartEndorsements) or add any other available endorsements from thetitle insurance rate card Click on the “Details’ link from the Fees tab and then click the “Endorsements” tab. In the example below all the endorsements are included. Other providers may differ. Click “Save to File”SmartEndorsements: Title endorsements that have been pre-selected by LoanEstimateand added to the title rate based upon the transaction details. They include the typicalFNMA/FHLMC endorsements.LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
24 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideEdit Recording Fees/Transfer TaxesIf you need to add recording fees for an additional document(s): From the Fees tab, click “Edit Recording Fees/Transfer Taxes.” Click “Add Additional Documents”LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
25 -- LoanEstimate Service (formerly SmartGFE) Administrator Guide Check the box next to the document(s) you want to add. Click “Add Documents”. Click “Calculate”LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
26 -- LoanEstimate Service (formerly SmartGFE) Administrator Guide Click “Save to File” The recording fee(s) for the document(s) will be added to the “Fee” screen. From the Fees tab, click “Export Documents” (see section on Export Data and Create ComplianceCertificate).LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
27 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideChange in CircumstanceIt is important to keep your fees up to date as a loan file evolves. Neglecting to update your fees after a loanamount changes can have tolerance/variance implications for transfer tax as well as title insurance.To change a file after it has been created simply re-launch the LoanEstimate service. You will automatically bedirected to the “Fees” tab of the file you wish to modify.It is possible to set up business rules in Encompass that will prevent users from redisclosing a Loan Estimatedocument without updating fees via the Loan Estimate Service. Please contact ClosingCorp for details.LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
28 -- LoanEstimate Service (formerly SmartGFE) Administrator Guide Go to the tab where you need to make changes Go to the Questions tab for changes under “Customize.” Click “Continue to Fees” when you have made your valid changesLoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
29 -- LoanEstimate Service (formerly SmartGFE) Administrator Guide If no additional services are needed, from the Fees tab, click “Export Documents” to upload your feesto Encompass360. If additional fees are needed, like a pest inspection, from the “Fees” tab click “Add AdditionalServices.” Choose an “additional service” from the drop down and click “Select Provider”o A provider from the category selected will be auto-selected for you.o If you have a preferred provider set up for the category and they can service the property, theywill be auto-selected otherwise a provider closest to the property will be selected.The provider and fee will be added to Block 6 on the Fee TabLoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
30 -- LoanEstimate Service (formerly SmartGFE) Administrator Guide From the Fees tab, click “Export Documents” (see section on Export Data and Create ComplianceCertificate).LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
31 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideAdd a Service Category (Pest, Chimney, etc.) Launch the LoanEstimate Service through the Encompass360 file you wish to work on (see AccessingThe LoanEstimate Service through Encompass360) Log in to The LoanEstimate Service. You will automatically be directed to the “Fees” tab of the file you wish to modify. Click “Add Additional Services”LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
32 -- LoanEstimate Service (formerly SmartGFE) Administrator Guide Choose an “additional service” from the drop down and click “Select Provider”o A provider from the category selected will be auto-selected for you.o If you have a preferred provider set up for the category and they can service the property, theywill be auto-selected otherwise a provider closest to the property will be selected. The provider and fee will be added to Block 6 on the Fee Tab From the Fees tab, click “Export Documents” to upload the fees and new Compliance Certificate toyour Encompass360 file.LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
33 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideLoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
34 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideView/Print Compliance CertificateTo view and print the The LoanEstimate Service compliance certificate, click on eFolder at the top left of yourscreen in Encompass360. Click on “Compliance Certificate” the Compliance Certificate will open where you can view and print.Sample Compliance Certificate:LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
35 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideSet Up PreferencesIndividual users can set up preferred providers based upon what providers are available to them in theLoanEstimate service: Click “Set up Preferences” on the left of the screen.LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
36 -- LoanEstimate Service (formerly SmartGFE) Administrator Guide They will be directed to the “Your Preferred Service Providers” screen. Select a service by clicking on the category, for example “Settlement Services”. Click “Add New” Enter a ZIP code or State and County where the preferred provider provides services. Click “Search.”LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
37 -- LoanEstimate Service (formerly SmartGFE) Administrator Guide Scroll through the results to locate the preferred providers(s). Click the ( ) button to select the provider(s). A green checkmark will be displayed next to theprovider(s) indicating that it has been selected as a preferred provider. Click “Back to Preferred Providers” to view the provider list.LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
38 -- LoanEstimate Service (formerly SmartGFE) Administrator Guide Click “Save” to save the selections and to take you back to the Provider category screen. Repeat this for any category that you want to create a Preferred Provider List. Click “Delete” to delete a vendor from your preferred provider list. To show only preferred providers in your files check “Only Show My Preferred Providers”LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
39 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideRefer a ProviderTo request a new service provider be added to our network click “Refer A Provider” at the bottom of any TheLoanEstimate Service screen. Fill in the form completely and click “Submit.”We will contact that vendor for inclusion in the The LoanEstimate Service Network.You will be notified by email when the provider rates are available in The LoanEstimate Service.LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
40 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideCreate UsersSingle-SignOn License Method With Single Sign On (License Method) a user is created automatically when they log in to TheLoanEstimate Service through Encompass360 the first time No User Creation is necessary in the The LoanEstimate Service See Accessing The LoanEstimate Service through Encompass360Single-SignOn User Set Up MethodFor Lenders that maintain users on the The LoanEstimate Service Click the “My Settings” tab. Click “Account Users.”LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
41 -- LoanEstimate Service (formerly SmartGFE) Administrator Guide In the “Create New User” box type in the new user information (User Name, Email address, FirstName, Last Name Note: User Name can be any name of your choice including an email address assuming it is not alreadyin use (for example – jsmith, johnsmith, jdsmith) Select the User Role based upon the functions the user will need:Loan Officer – can create and modify their The LoanEstimate Service filesLoan Processor –can create and modify The LoanEstimate Service files; can modify files createdby other users; can view all files in the accountSales Assistant – can create and modify other The LoanEstimate Service files under anotherusers profile where they have been designated as a “Delegate” (see Delegate section forprocedure on how to set up delegates). NOT Available on Encompass360 as of 2/7/2014.User Admin – can create and modify their LoanEstimate Service files; can create new users; cande-activate users; can modify LoanEstimate Service files created by other usersAccount Admin – can create and modify their LoanEstimate files; can create new branches; cancreate new users; can de-activate users; can modify LoanEstimate files created by other users inthe company. Select Branch from the drop down. This is optional. Click “Add User.”LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
42 -- LoanEstimate Service (formerly SmartGFE) Administrator GuideOptional Features ClosingCorp continually strives to improve the product with new feature updates. If you would likemore information about the following features and how to add them to the LoanEstimate serviceplease contact us. These features can be turned on immediately for all of your users.LoanEstimate Service – EllieMae Encompass360 Admin rel 09102015
43 -- LoanEstimate Service (formerly SmartGFE) Administrator Guide“Who Pays” Rule for Transfer Taxes This feature will display the buyer and seller portion of the transfer tax based upon ClosingCorp’sproprietary database. ClosingCorp has developed a “rule strength” based upon the laws in taxingauthorities nationwide as well as incorporated what is customary practice. Outlined below are the four “rule strengths” where “3” is the strongest and most conservative split: 3 by statute (the applicable law appears to be quite clear, with no apparent wiggle room) 2 by statute, with qualification (the applicable laws appears clear but indicates that the other partyshall pay in case the specified party fails to do so) 1 suggested (the applicable law specifies who pays “unless otherwise negotiated between theparties”) 0 by custom (the law either is silent on the subject of who pays or specifies that all parties are liable) A split and rule strength are associated with each tax component that makes up the taxes for a countyor taxing authority. Within the same county it is not uncommon for both the “Who Pays” splits andrule strengths to vary. The purpose of rule strength is to allow a top-level decision as to the “strength” of splits that areshown to the users (e.g. loan officers) of a particular customer (e.g. bank). For example, if a decision ismade to show splits only for tax components with a rule strength of 2 or better (higher), then a taxcomponent with a rule strength of 0 or 1 would always be displayed “un-split” (i.e. the buyer pays all ofthat particular tax). The client must select the “rule strength” to have this feature activated on a corporate level fo
6 -- LoanEstimate Service (formerly SmartGFE) Administrator Guide LoanEstimate Service - EllieMae Encompass360 Admin rel_09102015 The LoanEstimate Service will be saved to "My Providers" tab and appear as SmartGFE. The first time a user logs in they will be required to enter either a License KEY or their Username and Password provided by ClosingCorp
