Step 2: Registering Your Loan
Setting Up Key Registration Fields
Before registering, you will need to verify the borrowers’ email addresses, enter their credit information, and assign a Loan Officer. On the Pricing tab, choose Application #1 tab to review the borrowers’ email addresses and credit.
At the bottom, there are four options for entering a credit: Order New Credit Report, Re-Ussue Credit Report, Upgrade Existing Credit Report to Tri-Merge Report, and Manually Enter Credit Report. We recommend selecting Manually Enter Credit Report and clicking Enter Credit since it allows you to run DU, save money, and submit more quickly.
Enter the credit scores for the borrower(s) and click Enter Credit.
You can confirm the credit scores were saved by checking the top-right of the loan information bar.
Now, choose your pricing filters - the Terms, Amortization Type, and Product Type and Price for your preferred loan program.
You may be prompted to assign a Loan Officer to the loan. Select the Loan Officer’s name to continue pricing.
For more information about pricing, read Pricing Your Loan.
Registering a Loan Program
When the results populate, you can register or request pre-lock for your preferred rate and program.
If your preferred program is not displayed, the loan might be ineligible for that program. You can review the reasons for ineligibility under Display Ineligible Loan Programs.
You can re-register for a different loan program until you request initial disclosures or submit. After we receive your request, you will only be able to adjust the Rate Lock Period and Impounds.
At registration, your compensation plan will be applied to lender paid transactions. It will not be updated if you re-register. If you are changing your compensation plan, do not register until you have received confirmation that it has been updated.
We recommend assigning a Processor to every loan since disclosure notifications are emailed only to the Processor. If you are a Loan Officer processing your own loans, assign yourself as the Processor to receive notifications. Assign a Processor on the Status and Agents tab.
If a Loan Officer's name does not appear in the Processor list, contact your company’s portal admin or your Account Manager to add the Processor role to their user account.
For more information about our lock policy, please read Rate Lock Policy.
Pre-Locking Your Loan
Pre-locking is available on certain products dependent on your pull-through ratio.
Before you Pre-Lock, please make sure to enter your application date in the Disclosure tab.
To pre-lock a jumbo, the Lock Desk must review and approve the pre-lock. You will need to upload the 1003, 1008, and Credit Report, then select request lock in the Pricing tab. For same-day lock, the documents must be uploaded and the pre-lock requested prior to 2pm.
Locks are not automatically confirmed. Once requested, our lock desk will review the request and follow up.
For more information about our lock policy, please read Rate Lock Policy.
What's Next
Your loan status will update from Loan Open to Registered. After your loan is Registered, you can run Seamless DU and/or generate initial disclosures.
To learn more about Seamless DU, please read Running Seamless DU.
To learn about initial disclosures, please continue to the next step, Step 3: Generating Your Initial Disclosures.
If you intend to prepare and deliver your own Loan Estimate, you can skip to the following step, Step 4: Submitting Your Loan! Be sure to double-check your Loan Estimate by referencing our Loan Estimate EXAMPLE.