OPOS – Initial Disclosures by Vendor

Table of Contents

• Vendor Disclosure Cancelled Workflow 
• Borrower Aware Contract Price Exceeds Valuation 
• Product Settings- Document Review 
• Introducing Redundancy 

Vendor Disclosure Cancelled Workflow

Created disclosures can be cancelled from a vendor’s UI.

If the vendor is Docutech, the oPOS user will receive the following messages after a disclosure cancellation: ‘EsignPackageRetired’ and ‘FulfillmentCanceled’

Any disclosure package within the oPOS system is assigned a document status of ‘Rejected’ and the Disclosures Cancelled Date is set.

Depending on how the System Admin - Disclosures Setting ‘Revert LOD on Disclosures Cancelled’ is configured, a few updates occur within the oPOS after such a cancellation.

When the ‘Revert LOD on Disclosures Cancelled’ setting is set to ‘Yes’, then  

1. Disclosure Status reads as ‘Disclosures Cancelled’  

and 

2. Line of Demarcation is rolled back. i.e. oPOS resumes the role of being the System of record

When the ‘Revert LOD on Disclosures Cancelled’ setting is set to ‘No’, then  

1. Disclosure Status reads as ‘Exit Workflow’

There are no changes made to the Line of Demarcation in this instance.  

Borrower Aware Contract Price Exceeds Valuation

For VA and FHA loans, if the price of a purchase contract exceeds the appraisal value of a property, the borrower must indicate that they are aware of the price difference between their contract and appraisal value and that they will have to pay the difference prior to closing. The borrower indicates this by checking the (a) box as shown below:

These same checkboxes appear in the Part V – Borrower Certification section of the “HUD/VA Addendum to Uniform Residential Loan Application” document in the Disclosures Package for VA loans. The corresponding checkbox (from above) will also appear marked on this document, as shown below:

Product Settings – Document Preview

In the Vendor Manager section of the “Vendor Management” page, click the Product Settings link to the right of Document Preview. In this Document Preview, select ‘Yes’ or ‘No’ for the Limited Package setting, as shown above. Selecting ‘Yes’ will create a limited package which will include the 1003 and the loan estimate, by default.  

Introducing Redundancy  

When the borrower completes eSigning within cPOS, oPOS receives a message that eSigning has been completed. This response sets the ITP Date for the borrower and retrieves a merged eSign package.

Redundancy is introduced when the “EsignSignAndSubmit” pushback is received from Docutech, which then checks if a Solex response event for eSign complete was already received/processed. If not, the ITP Date is set at that point and the merged eSign package is retrieved.