Objective
To provide a clear and structured process for managing loan templates within the system, ensuring team members can efficiently navigate, utilize, and request modifications to templates as needed.
Key Steps
Access the Loan Templates Section
Navigate to the "Industry Standards" tab in the system.
Locate the "Loan Templates" subsection.
Review Available Loan Templates
Familiarize yourself with the 13 standard loan templates available, categorized by type (e.g., Conventional, FHA, Jumbo).
Hover over the "Actions" item next to each template to view its details.
Understand Template Specifications
Take note of the key specifications for each loan type:
Conventional Fixed: Custom loan-to-value (LTV), borrower-paid monthly mortgage insurance if LTV > 80%, 30-year amortizing fixed loan.
Home Ready/Home Possible: Default LTV of 97%, 30-year amortizing fixed loan.
VA Loan: 100% LTV.
FHA Loan: 96.5% LTV.
Ensure you understand these specifications as they will be needed for creating loan scenarios.
Request New Loan Templates (if necessary)
If a loan product does not fit within the existing templates, submit a feature request:
Go to the Ticket Center.
Click on "Feature Request" and provide details about the new loan template needed.
Reorder Loan Templates for Efficiency
To reorder templates, locate the six dots icon next to each template.
Click and drag the template to your desired position based on your workflow needs (e.g., prioritize Home Ready/Home Possible or FHA).
Save Changes
Ensure any changes made to the order of templates are saved before exiting the section.
Cautionary Notes
Be aware that you cannot create new loan templates directly; all requests for new templates must go through the feature request process.
Ensure you double-check the specifications of each template before using them in scenarios to avoid errors.
Tips for Efficiency
Regularly review the loan templates to stay updated on any changes or new templates added.
Customize your template order based on your daily tasks to streamline your workflow.
Utilize the hover feature to quickly access template details without navigating away from the main screen.
Communicate with your team about any new loan products that may require template requests to ensure everyone is on the same page.