Originating Loans

Loan origination occurs when you import an existing loan file from FNM 3.4 File or by creating a loan manually.

Importing a Loan from FNM 3.4 Files

To Import a Loan

1. On the home page, click the ADD NEW LOAN button.
2. In the pop-up window, select the loan officer(s) and loan processor(s) the loan will be assigned to.
   
   
   
3. Click NEXT.
4. Select Import from FNM 3.4 file, click BROWSE FILES, and then select the file.
   
   
   
5. Click NEXT.
6. An electric 1003 form displays. After you finish entering information on a page, click the NEXT button to proceed until all the information is entered.
7. When you are ready to save the loan, click REGISTER.

Create a Loan Manually

To Create a Loan Manually

1. On the home page, click the ADD NEW LOAN button.
2. In the pop-up window, select the loan officer(s) and loan processor(s) the loan will be assigned to.
   
3. Select MANUAL, and then click NEXT.
4. Quick Register Wholesale Loan form displays. Enter the required loan data.
   
5. After you finish entering information on page, click the REGISTER A NEW LOAN button.
6. Complete all Guideline Errors, click UPDATE.
7. An electronic 1003 form displays. After you finish entering information on a page, click NEXT button to proceed until all the following have been completed;
   1. Loan Informationb.
   2. Brrower Information
   3. Employer History
   4. Income & Expenses
   5. Assets & Liabilities
   6. Transaction Details
   7. Information for Government
   8. Comments
8. When ready to save the loan, click SAVE.

Adding a Co-Mortgagor

After entering all the 1003 information for the initial borrower(s), you can add a co-mortgagor.Co-mortgagor may be a family member or a joint application with separate applications.

To Add Co-Mortgagor

1. At the top of the page, click the EDIT button.
   
2. Click ADD NEW PAIR to add a co-mortgagor pair.
   
3. Enter the required information for the co-mortgagor(s).
4. When finished, click SAVE.
5. At the top of the page, select the new borrower pair from the SELECT BORROWER PAIR drop-down list.
6. Complete all the information on each of the 1003 sections for the co-mortgagor(s), just as you did for the initial borrower.
7. When finished, click SAVE.