Running Fees & Initial Disclosure
Generating an initial disclosure will send the disclosures to your borrower(s) and Loan Officer, so we strongly recommend validating their email addresses on the URLA pages before beginning this step. If the email addresses are incorrect, you will need to contact our Disclosure Desk at firstname.lastname@example.org to update and resend the disclosures.
Additionally, you will need to ensure the borrower(s) mailing address is complete since we may need to mail the disclosures.
Step By Step Tutorial
From the navigation, click Fees & Initial Disclosure.
IMPORTANT: If you need to leave Fees & Disclosures, your data will not be saved unless you reach the Save Fees page. To avoid any data loss, we always recommend getting to the Save Fees page and then clicking to the URLA to fix any necessary compliance or loan information.
Complete all relevant fee information. All required fields will be indicated with re asterisk. Once complete, click Fee Itemization to proceed.
IMPORTANT: If you forgot to enter a Seller Credit on your URLA, you can choose to enter one at the bottom of the page.
A Title Provider will automatically populate based on your previously entered fee information.
To change the selected provider, click Change Provider.
Click the down arrow to view the provider list, select a provider, and click Update.
To edit an existing provider, click Manage Providers.
Click the down arrow to view the provider list, select a provider, make any necessary edits, and click Save Provider.
You can also setup a fee template for your title providers by clicking Fee Template.
You can click Add Fee to template any Section C fee and click Save Template.
If you cannot find your preferred provider, you can add a new provider. Click Add New from the Manage Providers screen.
Complete the information for the new provider and click Save Provider.
Fee may automatically populate based on your previously selected Title Provider information.
Click Add Fee to add a fee to the loan.
Click the down arrow to view the fee list, select the necessary fee, complete the fee details, and click Save Fee.
On the fee line, click the Pencil icon to edit an existing fee, or click the X icon to remove that fee.
Previewing the Loan Estimate
Click LE Preview to review the Loan Estimate details.
Click between the LE Page 1, LE Page 2, LE Page 3, Service Providers, and Compliance tabs to review your Loan Estimate details.
Once you have reviewed your Loan Estimate and Compliance, click Additional Info to enter the Anti-Steering disclosure information.
IMPORTANT: Review LE page 2 before proceeding to the next step. The fee edit option will not be available after. If you have proceeded and need to make a change, you’re able to reset fees only.
A red dot will appear next Compliance if there are any issues.
- For unlocked loans, you can still issue disclosures without passing compliance.
- For locked loans, you will not be able to issue initial disclosures without correcting the compliance issues.
IMPORTANT: Before leaving, click Additional Fees and click Save Fee before leaving the disclosure generator to update the URLA.
For Anti-Steering, this is optional. You can click Save Fees to proceed, or you can enter the 3 Loan Rates, 3 Loan Charges, and click Save Fees.
You can review the Anti-Steering guidance. If the values are incorrect, underwriting may request a corrected Anti-Steering disclosure as a condition.
IMPORTANT: If you intend to leave the Fees & Disclosures to check pricing or URLA, click Save Fee beforehand to ensure all your fees and disclosure data is saved properly, so that when you return, you can update any data if needed.
You will be directed to a loading page while your fees, providers, and anti-steering information saves.
Start Initial Disclosures
Next, you will run data validation audit to ensure all key loan information has been completed for initial disclosures. Click Run Audits to validate the 1003 completeness.
If there are any failures, any required fields will appear on page for you to complete. Once you enter the missing data, click Save & Run Audits.
Once the audit passes, click on Run Compliance.
You will be directed to a loading page while your compliance results run. If your compliance fails, click Disclosure Desk Request to request assistance from our Disclosure Desk.
If your compliance passes, click Package & Delivery Option to review the disclosure generator options.
IMPORTANT: Only use the Request Help from Lender button when receiving a hard stop error.
Generate a preview of your initial disclosures. Confirm that Initial Disclosures and Esign, and click Preview to download. The initial disclosure document will appear in your download folder.
IMPORTANT: Review your preview thoroughly before sending. The initial disclosures are binding. If you notify us of an error after disclosures are sent, we may need to cancel the file.
Generating Initial Disclosures
Once you have thoroughly reviewed your preview, click Send to send the disclosures to your borrower(s) and loan officer.
IMPORTANT: If you notice an issue with your disclosures during signing, contact your Account Executive. Since initial disclosures are binding, we may need to cancel the file, depending on the requested change.
Once sent, a copy of your disclosures will uploaded under Initial Disclosures (Unsigned) along with a record of your fees, providers, and anti-steering entries under Fees & Disclosure Summary in Documents.
The Disclosure Desk will review the file after the request is made. They will contact the Processor for the point or rebate that should be displayed on the Loan Estimate. If your company hasn't requested loan docs from JMAC in the past, we will also require a confirmation of company information to print on the disclosures. Once confirmed, our Disclosure Desk will send e-sign disclosures to the Loan Officer and each borrower. We will disclose no later than the third day following the application date.
When the signed package is returned, you are ready to upload the rest of the submission package and submit the loan, Step 3: Submitting Your Loan.
E-Signing & Returning the Initial Disclosures
An email will be sent from email@example.com to the Loan Officer and each borrower with a link to e-sign disclosures. To learn more about borrower eSigning disclosures and disclosure notification, read eSigning Initial Disclosures.
The completed package will automatically upload to JMAC once all parties sign.
On the Disclosure Tracking page, you can view the details.
To learn more about submission, read more Step 4: Submitting Your Loan.