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oPOS: Borrower Needs List

Michael Ferri
  • Updated

 

Graphical user interface Description automatically generated 

Overview

The Borrower Needs List (BNL) is a documents list which auto-generates from the borrower’s 1003 loan application data. The borrower and loan officer can upload documents for review, which can then be classified and stored with the loan file.

  

Table of Contents

 

Status Count Indicator 

The Status Count Indicator provides the user with the following four statuses:

 

 

  1. Items Pending Review – this displays the number of uploaded BNL items that still require document review
  2. Items Incomplete – this represents the number of BNL items that have been marked incomplete by the loan officer
  3. Items Needed – this represents the number of BNL items that the borrower still needs to provide
  4. Items Satisfied – this represents the number of BNL items that the loan officer has reviewed and approved

Action Buttons 

Just below the black Contextual Bar are two action buttons:  

  1. Send SecureLink 
  2. Run Needs List 

 

 

Send SecureLink Button 

Clicking the Send SecureLink button opens an email template popup window which contains information about the documents that the borrower needs to provide. Click Send to forward this email to the borrower, who can then click the My Requested Documents link and upload the requested document(s) from their “Task” page.

 

 

Run Needs List Button

 

When the Loan Officers clicks Runs Needs List button, it will automatically generate the needed documents based on the Borrower’s 1003 data. It saves the loan, checks if any information was updated in the 1003 and updates the file list.  

Possible needed documents are dictated by the BRMS Rules. The most common requested documents are:

  • Bank Statements
  • Pay Stubs
  • W-2
  • 1040 Tax Return 

Documents Related to Pending Sale or Sold Options on REO Flyout (6.0.1000)

 

Graphical user interface Description automatically generated 

When the oPOS user selects Sold or Pending Sale for a non-subject REO property from the REO flyout, the corresponding requestable document appears as a BNL item.

 

Graphical user interface, text, application Description automatically generated 

  • ‘Closing Statement – Final’ - this requestable document appears as a BNL item if the non-subject REO property is marked Sold.
  • ‘Closing Statement – Estimated’ - this requestable document appears as a BNL item if the non-subject REO property is marked as Pending Sale.

Customizable Business Rules Management System (BRMS) List 

The BRMS document list can be customized to define the requestable documents that appear on oPOS “Borrower Needs List” page and the cPOS “Your Task” page.

 

Hide BNL Items (6.0.1000)

Some Lenders may customize the BRMS list to exclude these specific requestable documents:

  • Driver’s License
  • Statement of Account

 

Pending Review 

Beneath the Pending Review Section is a list of the documents still in need of review. Click the accordion arrow beside each listed document to display more information about that document.  

 

 

 

 

The available actions to take for each pending review document are:

  1. Review document
  2. Upload document(s) from your computer
  3. Attach File(s) from the DocVault
  4. Remove file
  5. No, Incomplete 

File Information 

 

The information available for each of the pending review documents includes:

  1. Document Name- this section displays the filename for the uploaded document
  2. Status- this section displays the status of the file (status options explained below)
  3. Modified By- this section displays the person that uploaded or modified the file
  4. Modified Date- this section displays the date and time the file was last modified
  5. LOS Export- this section indicates that document is already in the Lender’s LOS
  6. Borrower Viewable- check this checkbox to make the document viewable for the borrower
  7. 3 blue dots icon- click this icon to display the following action options:
    • Download
    • Remove from Needs List Item
    • Document History 

 

Pending Review Document Status Options 

‘Rejected’ 

 

The ‘Rejected’ status indicates that the uploaded file was rejected by the loan officer and needs to be uploaded again.

 

The oPOS user can respond to the ‘Incomplete’ status with the following actions:

  1. Upload document(s) from computer
  2. Attach File(s) from the DocVault
  3. Remove file
  4. No, Incomplete

‘Needed’ 

 

The ‘Needed’ status indicates that the required file still needs to be uploaded.  

 The oPOS user can respond to the ‘Needed’ status with the following actions:

  1. Upload document(s) from computer
  2. Attach File(s) from the DocVault
  3. Remove file
  4. No, Incomplete

 

'Accepted’ 

 

The ‘Accepted’ status indicates that the files were uploaded successfully and have been accepted/satisfied.  

 

 

Upload Icon 

 

Click the blue arrow Upload icon to open the ‘Upload Documents’ popup window which describes acceptable file formats to upload. Click the Choose File button to browse computer files to upload.

 

 

After the file is selected, the filename will appear in the ‘Upload Documents’ popup window along with a red (-) button. The oPOS user can then click the Upload File(s) button to upload the document or the red (-) button to remove the document.

 

 

 

 

Review Document 

As soon as the file uploads, the ‘Review Documents’ window appears on the right to preview the document.

 

 

In the ‘Review Documents’ window, the oPOS user can use the following action options:

  1. View Document in a new window- click to view document in another window
  2. Document Classification
      • Document Type- select document’s type from dropdown
      • Borrower Name(s)- select document’s corresponding borrower from dropdown
  3. Accept- click to accept the uploaded document and incorporate it into the borrower’s file
  4. Reject- click to reject the uploaded document
  5. Skip- click to skips this document for now
  6. Cancel- click to cancel and take no action
  7. Remove from Needs List Item- click to remove the request for this item from the borrower need list

 

If there is more than 1 document, the LO needs to review them all with this process.

 

After a file is accepted, the following actions will be available:

 

  1. Yes, Satisfied – click to update the file status to ‘Accepted’
  2. No, Incomplete – click to update the file status to 'Rejected’ and to add an explanation for the rejection the file

 

If the LO clicks the Send a “View My Needs List” SecureLink after I’m done checkbox, a Securelink modal window with a populated e-mail template will appear which can then be sent to the borrower.

 

 

 

 

 

Add to Borrower Needs List (BNL)

 

 

To add an item to the Borrower Needs List:

  1. Click Add Needs List Item button
  2. Click blue Upload arrow

Once the item uploads, complete one of the following:

  • Select which document needs to be uploaded from this dropdown
  • Select which borrower the new document request will be sent to from this dropdown
  • Enter instructions or comments to the document request (optional)

 

Doc Vault

The DocVault tab appears beside the Borrower Needs List tab just below the black Contextual Bar.

 

Click the DocVault tab to display a list of document sections, each with an accordion arrow beside it. Click the accordion arrow next to any section to reveal the documents within that section.

 

Click the checkbox beside any document(s) to select it and then click either the Download Selected button to download those documents or the Export Selected to LOS button to export them to the LOS. Both buttons appear on the top left of the ‘DocVault’ window.

 

 

Click in any document to open a flyout where the document can be reviewed and attached to the Borrower Need List.

 

 

 

Import from Loan 

The Import from Loan button appears on the right side of the ‘DocVault’ window, just to left of the Upload Documents button. Click the Import from Loan button to load documents from a previous/different loan and import them into the current loan file.

 

 

 

 

Clicking the Import from Loan button will open an ‘Import Documents from Loan’ popup. To browse the documents of a previous/different loan, the LO must enter that loan’s Loan number into the text field and click Browse.

 

This will open a list containing all documents belonging to the previous/different loan that the LO can then select from to import into the current loan file.

 

 

To import a document from the previous/different loan into the current loan file, click the checkbox beside the document and then click Import.

 

Summary

The oPOS user can update and customize the Borrower Needs List (BNL) to request various documents be uploaded by the borrower. Once the borrower uploads each requested document, the oPOS user can reject or accept it and add it to the loan file. The oPOS user also has the option to import documents from a previous or different loan application.

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