Loan officers have the ability to guide their borrowers through a wet or ink signing disclosure process should the borrower wish to forgo signing the disclosure package electronically.
Table of Contents
- Printing the Initial Disclosure Package
- Adding the proper Borrower's Needs List Item
Once the initial disclosure package has been created the borrower has the ability to follow an eSigning workflow or, if they prefer, may enter into a wet or ink signing process. The wet or ink signing process requires a bit more guidance as the documents will need to be printed, signed, uploaded, and properly classified in the platform.
Printing the Initial Disclosure Package
The loan officer may wish to print the initial disclosure package for several reasons.
- Perhaps the borrower wishes to sign the disclosure package in person
- The borrower requests the loan officer to print and mail the package so that they may review, sign, and return back to the loan officer
- The borrower requests a physical copy, etc.
In order to print a copy of the initial disclosure package within the oPOS the loan officer must first navigate to the DocVault by clicking Menu > Actions > DocVault. Once in the DocVault the loan officer has a couple printing options:
- Locate and expand the Disclosure Packages section
- Click on the ellipsis (three dots)
- Select the Download option.
- Once documents are downloaded the loan officer may print the package
The loan officer may click on the name of the document, which will activate the "Review Documents" popup. The loan officer may download or print the documents by clicking on the respective icons.
Adding the proper Borrower's Needs List Item
In order for the borrower to properly upload the signed package to the corresponding line item within their tasks list, the loan officer must ensure that the needs list item is added.
Recommended: The loan officer should proactively gain an understanding of the borrower's signing preferences to ensure the line item is created before the borrower attempts to upload a wet signed package. Nonetheless, the proper line item does not need to be present for the borrower to upload the signed package as the loan officer may reclassify the document later in the process.
The loan officer must start by navigating to the Borrower's Needs List - Menu > Actions > Borrower's Needs List. The needs list item may be added by clicking Add Needs List Item.
Once added, the desired needs list item must be searched within the document classification entry field. In this case there are multiple options:
- Applicants Statement of Intent to Continue with Loan Application - Individual Disclosures - Signed
- Initial Disclosure (In Person) Package-Signed
- Since the document is being requested the No, Incomplete button should be selected so that the needs list item will remain as incomplete within the borrower's needs list in oPOS and display within cPOS for the borrower.
- The loan officer may also wish to add an explanation or a note for the borrower within this popup.
- Additionally, by checking the Send a "View My Needs List" SecureLink after I'm done checkbox an email will be prepared for the loan officer to send to the borrower containing any notes or explanations entered within the text entry box.
The signed package may be uploaded within oPOS by clicking the upload icon within the row of the desired needs list item
The "Upload Documents" popup will appear where the desired files my be uploaded by clicking the Choose File(s) button and clicking Upload File(s).
The signed disclosure line item will require the following items to be entered in order to satisfy the Intent to Proceed (ITP) date:
- Borrower Signed Date
- Issue Date
Once the loan officer clicks the green Accept button and the dates are satisfied the ITP date will be set within the Borrower Information under Menu > Tools > Loan Participants.
When the ITP date is satisfied the disclosure status bar will update to blue indicating "Disclosures Delivered" and the loan officer can continue to work on the loan file within their LOS.
Initial disclosures may be wet/ink signed based on the borrower's preference. The loan officer will need to guide the borrower through downloading and printing out their own disclosure package within cPOS if they borrower wishes to follow that process. The loan officer and borrower also have options to print, mail, fax, etc. the disclosure package and upload the signed package within the platform. Properly classifying the signed uploaded package will ensure the Intent to Proceed milestone is properly satisfied.