Running Fees & Initial Disclosure

Video Tutorial

Step By Step Tutorial

From the loan navigation, click Fees & Initial Disclosure.

Before starting, you may receive some system stops for certain requirements such as credit not being ordered or the application date being invalid. To learn more about these, read Disclosure Generator FAQ.

Complete all relevant information on the Fee Disclosure Inputs page. All required fields will be indicated with a red asterisk. Once complete, click Next - Fee Itemization to proceed.

IMPORTANT: You can add or update any Seller Credit or Earnest Money Deposit at the bottom of the page.

Auto-Save

Auto-save is available in the Disclosure Generator as of 11/8/24. As you make changes to fields and fees, those fields will be tagged with a blue indicator. You're able to leave the Fees & Initial Disclosure page, and your changes will be retained.

IMPORTANT: Changes will not be kept between different computers and/or browsers.

To reset all fields and fees that have auto-saved, click the Clear Unsaved Changes button the Fee Disclosure Inputs page.

You will then be able to re-enter any fields and have fees recalculate.

Managing Fees

Fees will populate on the Fee Itemization based on information entered on Fee Disclosure Inputs. To edit a fee, click the Pencil icon. To delete a fee, click the X icon.

IMPORTANT: Common Section A and B fees will populate as $0. These can be edited or deleted as necessary.

Click Add Fee to add any missing fees.

Click (LE/CD) Fee Name to view the list of fees, select the required fee, enter the fee amounts, then click Save Fee.

To learn more about changing your fee providers, read Managing Disclosure Generator Providers.

When you've completed fee entry, click Next - LE Preview.

Previewing the Loan Estimate

Click between the LE Page 1, LE Page 2, LE Page 3, and Service Providers tabs to review your Loan Estimate details, then click Next - Additional Info to proceed.

Confirm the information on this page and click Next - Save Fees.

IMPORTANT: Once you save fees, they are committed to the loan. If you need to modify them, you'll need to restart the process.

Saving your information creates a "checkpoint" in the process. After this save, you can navigate away from Fees & Initial Disclosure and later resume your progress from this step.

IMPORTANT: If you make any significant changes to the loan, we recommend re-running fees using the Reset Fees to avoid any potential tolerance issues.

After saving, you can review your fees in Documents by opening the LE Summary & Fee Itemization document under Fee and Disclosure Summary.

Running Compliance Checks

Next, you will run data validation audit to ensure all key loan information has been completed. Click Next - Run Audits to proceed. 

Any missing fields will appear on page for you to complete. All required fields are indicated with a red asterisk. Once you enter the missing data, click Save & Run Audit.

IMPORTANT: At this point, you will be asked if the loan should be disclosed as Locked with Borrower and whether there is any Lender Credit. 

Once all required fields are entered, click Next - Run Compliance. 

You will be directed to a loading page while your compliance results run. If your compliance fails, click Request Help from Lender to request assistance.

If your compliance check all pass, click Package & Delivery Option to continue. 

Sending Initial Disclosures 

Click Preview to generate a preview of your disclosures. Depending on your browser, the document will be available 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. 

Once you have thoroughly reviewed the preview, click Send to send the disclosures to the borrower(s) and loan officer.

Once sent, a copy of your disclosures will uploaded to Documents under Initial Disclosures (Unsigned).

What's Next

After initial disclosures are sent, you'll no longer be able to run compliance checks on the Fees & Initial Disclosure page. Instead, use the Compliance page to see a breakdown of these tests. You can read more about this on Compliance Status in JMAC Connect.

You're now ready to upload the rest of the submission package and submit the loan Step 4: Submitting Your Loan.

E-Signing & Returning the Initial Disclosures

An email will be sent from disclosures@jmaclending.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.