Enhancements to Loan Imports - "Loan Purpose" Field

Overview

The following changes have been made to the FNM 3.2 import process in release 6.0.1000:

• users can now set the loan purpose when creating a new loan from an FNM 3.2 file. This allows users to ensure that the correct information is imported from the file.

Loan Purpose

When the user attempts to create a new loan by uploading an FNM 3.2 file, they will now be prompted to specify the purpose of the new loan (purchase/refinance) before uploading the file

In order to create a new loan by importing an FNM 3.2 file, the user must indicate whether it is a purchase or refinance loan. The Loan Purpose drop-down menu contains two options:

1. Purchase - the new loan is for purchasing a home
2. Refinance - the new loan is for refinancing a home

The user’s response determines which information will be imported from the FNM 3.2 file. When the user selects an option, a message bar appears that informs the user which fields will not be imported. This reminds the user that these fields will need to be completed manually

If the user selects Purchase, the message indicates that the property’s street address will not be imported, and that the buying stage will be automatically set to ‘Get Approved’

If the user selects Refinance, the message indicates that the estimated value of the property will not be imported

After the user has selected the loan purpose, they can upload the FNM 3.2 by clicking Choose File. The chosen file must be an FNM 3.2 file (.fnm format)  

The window confirms that the file has been uploaded successfully by displaying the file name next to a blue checkmark.

Once the user has selected the loan purpose and uploaded the file, clicking Import will create a new loan with the imported information. If the import is successful, a new modal window confirms that the loan has been created.

To learn more, check out the link(s) below: 

oPOS - Importing FNM 3.2

Acceptance Criteria