TPO: The Loan Menu

The Loan Mega Menu appears when the user clicks the Menu button located on the left side of the black Contextual Bar. 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. This article provides an overview of the sections and links contained in this menu.

Table of Contents

• Overview
• 'Application' Links
• 'Pricing & Fees' Links
• 'Actions Links'
• 'Processing' Links
• 'Tools' Links
• Menu Options for Cancelled Loans
• Summary
• Related

Overview

The Loan 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' Links

Application – use the links that appear in this section to navigate to the different parts of the 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 the street address and the purchase price (for purchase loans) and estimated value (for refinance loans)
• 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' Links

Pricing & Fees – this section contains the following links:

• Shop for Rates - find eligible loan products for the borrower
• Closing Costs - add or modify the Loan Estimate
• Locking & Adjustments - request a lock on a desired rate and make rate/price concessions
• Amortization Schedule - review the projected payment schedule for the term of the selected loan product.
• Broker Loan - view important information about the lender

____________________

'Actions' Links

Actions – this section contains the following links:

• AUS - perform automated underwriting (AUS) on the current loan using Fannie Mae's Desktop Underwriter (DU) and Freddie Mac’s Loan Product Advisor (LPA)
• SecureLink - allows the user to send requests to the borrower via a SecureLink email
• Borrower’s Needs List - request supporting documentation from the borrower and manage uploaded documents
• Conditions - complete required tasks set by the lender (available after loan is submitted)
• DocVault - review an archive of all documents related to the current loan
• PreApproval Letter (Purchase Only) - displays a copy of the letter sent to the borrower indicating whether they have been pre-approved for their purchase loan. 
• Tax Transcript Requests - request copies of the borrower’s tax transcripts
• Adverse Loan - set the loan status to "Adverse"

____________________

'Processing' Links

Processing – this section contains the following links:

• Appraisal Center – order an appraisal for the subject property (this link is available after the buyer has officially indicated their intent to proceed, typically by signing the Initial Disclosure Package, or when the Broker Compensation fee is set to 'Broker Paid' on the "Closing Costs Details" page)
• Net Tangible Benefit - complete the Net Tangible Benefit form

'Tools' Links

 Tools – this section contains the following links:

• Loan Participants - view information about any third parties involved in the loan transaction, such as the settlement providers, insurance companies, or real estate agents.
• Loan Assignments - assign or re-assign the loan to a loan officer or add other users to the loan
• Export 3.2/3.4 - generate a Fannie Mae 3.2 (FNM 3.2) or MISMO 3.4 file using the current loan record 
• Duplicate Loan - create a duplicate copy of the current loan, which can be useful if an existing borrower wants to begin a new loan
• Disclosure Tracking - track the borrower’s disclosure signings throughout the loan process, from the Initial Disclosures Package to closing on the loan (available after initial disclosures are requested)
• Audit Log - view a record of important events in the loan process as they are completed
• ULDD - view the Uniform Loan Delivery Data Set for Fannie Mae and Freddie Mac
• Integration Services - view a record of any transactions with external vendor systems (Admin users only)

____________________

Menu Options for Cancelled Loans

When a loan has been cancelled or deemed adverse, certain links in the Loan Mega Menu will be disabled. 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.  

The DocVault, Export 3.2, Duplicate Loan, and Audit Log links on a cancelled or adverse loan can be disabled by a system administrator. To learn how to enable or disable these links, refer to this article

____________________

Summary

Clicking on the Loan Mega Menu provides users with a centralized set of options for managing a loan. 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