Objective
To provide a clear and concise step-by-step guide for team members to create, edit, and manage lender fee templates effectively, ensuring accuracy and consistency in fee presentation.
Key Steps
Access the Lender Fee Template Section
Navigate to the lender fee templates section in the software.
Create a New Lender Fee Template
Click on the "Create New Lender Fee Template" button.
Add Fees from Database
Click on the "Add Fees from Database" button.
Review the list of available fees from Section A and Section B of the Ellie.
Select the necessary fees (e.g., document review, processing, underwriting, appraisal, credit report, MERS fee, flood cert, tax service).
Click "Add Selected Fees to Template."
Input Fee Amounts
Enter the fee amounts for each selected fee (e.g., $395 for document review, $595 for processing, etc.).
Once all fees are entered, click "Fees Complete."
Name Your Template
Provide a descriptive name for the template (e.g., "Greg Test Lender Fee Template").
Optionally, add quick reference notes for future use.
Organize Fees
Drag and drop fees to arrange them in the desired order as they will appear on the loan estimate document.
Click "Template Complete" to save the template.
Edit an Existing Lender Fee Template
Select the template you wish to edit.
Modify fee amounts as needed, then click "Fees Complete" followed by "Template Complete."
Add a Custom Fee
If a fee is not available in the database, click "Add Custom Fee."
Specify the fee type (static or dynamic) and whether it affects the APR.
Enter the fee name and amount, then click "Fees Complete" and rearrange as necessary.
Clone a Template
To create a similar template (e.g., for condos), select the existing template and click "Clone Template."
Modify the cloned template as necessary, including adding or changing fees.
Name the new template appropriately and click "Template Complete."
Cautionary Notes
Ensure that all fees are accurately entered to avoid discrepancies in client estimates.
Double-check the order of fees to match the standard presentation format.
Be aware of local market fees that may need to be added as custom fees.
Tips for Efficiency
Use consistent naming conventions for templates to easily identify their purpose (e.g., "Purchase," "Refinance," "Condo").
Regularly review and update templates to reflect any changes in fees or regulations.
Utilize the cloning feature for similar templates to save time and maintain consistency.
Keep a reference document with frequently used fees for quick access when creating new templates.