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oPOS: The Loan Mega Menu

Mike Sigler
  • Updated

 

The Loan Mega Menu appears when the user clicks the Menu button located on the left side of the black Contextual Bar within oPOS. From here, the user can navigate to different pages within the loan application, perform actions related to the loan process, and access useful tools for managing the loan.  

 

Table of Contents

 

Loan Mega Menu – Overview  

 

The Loan Mega Menu is located within the black contextual bar and contains the following sections:

  1. Application – contains links to individual pages of the loan application
  2. Pricing & Fees – contains links to financial information about the current loan
  3. Actions – contains links that allow the user to take specific actions in the process of completing the loan application
  4. Processing – contains links that allow the user to order an appraisal on a processing loan  
  5. Tools – contains links that allow the user to manage the current loan

 

Application

 

  1. Application – the links that appear in this section of the Loan Mega Menu represent distinct parts of the Form 1003 Loan Application:  
      • Personal – collects personal information about the borrower/co-borrower(s), including their name, date of birth, social security number, and contact information
      • Property – collects information about the subject property, including address, purchase price, and down payment amount  
      • Assets – collects information about the borrower’s financial assets
      • Demographics – collects demographic information about the borrower/co-borrower(s), including their race and ethnicity in accordance with the Home Mortgage Disclosure Act (HMDA)  
      • Credit – collects information about the borrower’s credit history  
      • Declarations – collects information about the borrower’s financial history, including other pending loan applications, ongoing judgments, and past foreclosures or bankruptcies.  
      • Income – collects information about the borrower’s income
      • Loan Details – displays a summary of the information collected on the loan application  

 

Pricing & Fees

 

  1.  Pricing & Fees – this section contains the following options:
      • Shop for Rates – allows the user to find eligible loan products for the borrower
      • Closing Costs – allows the user to add or modify the Loan Estimate on the current loan
      • Locking & Adjustments – allows the user to lock a loan and update or extend a previously locked loan
      • Amortization Schedule – displays the payment schedule for the term of the selected loan product  

Actions

 

  1. Actions – this section contains the following options:
      • AUS – provides access to the oPOS Automated Underwriting System (AUS), which is integrated with both Fannie Mae’s Desktop Underwriting (DU) and Freddie Mac’s Loan Product Advisor (LPA)
      • SecureLink – allows the user to send requests to the borrower via secured link email
      • Borrower’s Needs List – allows the user to request documents from the borrower and manage any materials the borrower has already uploaded
      • DocVault – contains an archive of all documents related to the current loan
      • Tax Transcript Requests – allows the user to request copies of the borrower’s tax transcript
      • PreApproval Letter – displays a copy of the letter sent to the borrower indicating whether they have been preapproved for their purchase loan.

 

Processing

 

  1. Processing – this section contains the following options:
      • Appraisal Center – allows the user to order an appraisal on the subject property after the buyer has officially indicated their intent to proceed (typically by signing the Initial Disclosure Package)

 

Tools

 

  1. 1. Tools – this section contains the following options:
      • Loan Participants – displays information about any third parties involved in the loan transaction, such as the settlement providers, insurance companies, or real estate agents.
      • Loan Assignments – allows the user to re-assign the loan to another loan officer or loan assistant
      • Export 3.2 – generates a Fannie Mae 3.2 (FNM 3.2) file for the current loan
      • Duplicate Loan – creates a duplicate copy of the current loan, which can be useful if an existing borrower wants to begin a new loan
      • Disclosure Tracking – allows the user to track the borrower’s disclosure signings throughout the loan process, from the Initial Disclosures Package to closing on the loan.
      • Audit Log – displays a record of important events in the loan process as they are completed by parties involved with the loan.  
      • Integration Services – displays a record of transactions between oPOS and vendor systems  

 

Mega Menu Scenarios

 

When a loan has been cancelled or been deemed adverse, certain links in the Loan Mega Menu will be disabled by default. Disabled links still appear in the menu, but they will be greyed-out and will not respond when clicked. The user can use the remaining active links to view certain pieces of key information about the loan.  

 

Disabled Mega Menu Links – Added in 6.0.1000  

The following links (appearing in grey text) are disabled when the status of the active loan is set to ‘Cancelled’ or ‘Adverse,’ while the remaining active links appear in black:  

 

 

Application 

Pricing & Fees 

Actions 

Processing 

Tools 

  • Personal
  • Property
  • Assets
  • Demographics
  • Credit
  • Declarations
  • Income
  • Loan Details

 

  • Shop for Rates
  • Closing Costs
  • Locking & Adjustments
  • Amortization Schedule

  • AUS
  • Borrower’s Needs List
  • DocVault
  • Tax Transcript Request
  • Pre-Approval Letters
  • Appraisal Center

  • Loan Participants
  • Loan Assignments
  • FNM 3.2 File Export
  • Duplicate Loan
  • Audit Log
  • Integration Services

To prevent the user from working on a cancelled or adverse loan, certain links within the Loan Mega Menu are disabled. Some links remain active and allow the user to access information about the loan 

 

Configurable Links  

 The DocVault, Export 3.2, Duplicate Loan, and Audit Log links can be disabled by the oPOS system administrator on a cancelled or adverse loan. 

In addition to the links that are disabled by default when a loan is cancelled or deemed adverse, the following links can be disabled by the oPOS system administrator  

  • Doc Vault 
  • Export 3.2  
  • Duplicate Loan 
  • Audit Log 

Learn more about: How to enable/disable links for Cancelled and Adverse loans

 

Summary

Clicking on the Loan Mega Menu provides the user with a centralized set of options for managing an individual loan application. From this menu, the user can:

  • navigate to different parts of the loan application
  • access financial information about the current loan
  • take specific actions within the loan process, such as requesting documents from the borrower
  • order an appraisal on a processing loan
  • access useful tools for managing the loan process

 

Related

  • Configuring Disabled Links in the Loan Mega Menu
  • Contextual Bar
  • Lists Menu

 

 

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