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Rate lock/register & submit a new loan Heather Carrico 05.01.19
Rate lock/register & submit a new loan Get the process started How to Rate Lock /Register a loan in our portal Optimal Blue: Products and Pricing Optimal Blue: Lock Request Status How to submit a loan in the portal You choose who the contact person should be Hit Submit Make sure all pricing information is correct Upload initial credit package and seller UW approval Loan does not have to be locked, just registered
1. Click Add New Loan tab on the Welcome page to start a new loan. 2. In the pop-up window, select the Loan Officer and Loan Processor the loan will be assigned to. Click Next
3. Using the pop-window, you can upload a DU 3.2 file or enter the loan manually in a 1003 form. • To import an FNM file, drag the file from your computer to the popup window or Click to Browse, and then select the file • OR • Click Skip to enter the loan manually 4. Click Next
5. Check all information in the sections on the left hand side of the screen then hit Save on 1003/Loan Information screen.
1. Click Product Pricing & Lock Link 2. Click Search Product & Pricing
3. Enter all required information(required fields are marked with a red asterisk.*) 4. Click the Search Product & Pricing button 5. Optimal Blue will automatically launch.
Optimal Blue: Products & Pricing 6. Make sure all fields with a red asterisk are completed then click ‘Submit’ to find eligible programs.
Optimal Blue: Products & Pricing • 7. Select the product under the list of Eligible Products. • You will see a list of the Eligible Products under the green bar. Under the Red bar is the list of Ineligible Products.Click on the Eligible product that you are looking for. 9
8. Click the blue Lock icon next to whatever rate/price you are looking for. • Note: This will NOT lock your rate. You will be prompted on the next screen to either Update Encompass or Request Rate Lock. 9. If you are ready to lock your loan, click ‘Request Lock’ button. If you just want to register the loan at this time, click the ‘Update Encompass’ button.
If you have selected Update Encompass, then the following message will display once the file has been successfully updated. 11
If you have selected Request Lock, then the following message will display once the file has been successfully updated.
Once you receive a lock confirmation from Deephaven or you have registered/Updated Encompass on the loan, you are ready to submit your loan to Deephaven. 1. Select the Documents tab from the Loan Summary screen
2. Upload required documents by drag & drop files to correct place holders or browse and attached files to correct place holders. • Note –All requireddocs must be upload prior to SUBMIT being hit
Loan Package Required Documents DeephavenCredit Package Required Documents Deephaven Closed Loan Package Required Documents Loan Estimate Credit Report Paystubs (if applicable) Personal Bank Statements (if applicable) Business Bank Statements (if applicable) P&L (if applicable) Personal Tax Returns (if applicable) W-2 Statements (if applicable) Sales Contract (if applicable) Seller 1008 – Transmittal Summary Initial signed 1003 Unsigned most recent 1003 Fraud Report Appraisal Underwriter Approval or Non-Delegated Submission Form Closed Loan Package Closing Instructions Executed Final HUD/Closing Disclosure Mortgage Note Title Report Flood Certification Hazard Insurance Seller Compliance Report
We look forward to working with you! Questions or additional training please contact Sales@deephavenmortgage.com?