CHANGES TO THE

DISCLOSURE PROCESS-

ESIGN

We are rolling out NEW disclosure process that includes eSign on all document

types!!! What it offers:• Industry leading technology based solution• Security features to protect borrowers

information• Docs completed correct every time (less QC

issues)• e-Sign documents automatically transferred to

PCL• All re-disclosures done via e-sign- No waiting

for signed GFE’sWhen: Week of October 16th Roll out

What has not changed with the system!!!

• Loan Officer is still in control of the document process

• Process allows for options for getting the disclosures to your clients

• You can still do face to face applications (15 minute turn time on RUSH or Phone in requests )

1) The Application- • Once enough information is imputed in

PCL the application received date is populated in PCL- *Within 3 days we need to have the disclosure package sent to the borrower( all disclosures)

• The application data needs to be as complete as possible (since 1003 is being sent with disclosures)

• Fee’s need to be updated in PCL relevant to the loan- (GFE is still checking for correctness)

HOW IT WORKS

2) RESPA Clock is Ticking

• It is more important than ever for the LO to COMPLETELY fill in 1003 in a timely manner

• LO will receive a reminder email on the 1st and 2nd day

• On 3rd day at 11 am, LO will receive final warning email stating the file will automatically be disclosed at 3 pm Eastern Time

• At that time what ever is in PCL will be disclosed to your borrowers

3) Disclosing the Loan• Once loan is complete, LO will email

GFE@movementmortgage.com to produce all disclosures for the loan Including the 1003

• Must be within 3 days of the application received date (including Saturdays)

• LO should indicate method of disclosure. The options will be:• eSign, • Secure Delivery• Mail package (We will only send the

RESPA)

The Choices for Disclosing:

•E-Sign•Secure Delivery•Mail Fulfillment (No email available )

eSign• Must have an email address for ALL

borrowers• Must be completed on the 1st or 2nd

day after application- (for compliance reasons )

• A link will be sent to the borrower with instructions for completing

• Borrower has 24 hours to eSign• If borrowers do not eSign within 24

hours, then disclosures will be resent via Secure e-Delivery and eSign will no longer be available after 24H.

• A link will be sent to LO for their signatures.

• Once borrowers and LO sign the docs will auto enter into PCL (within in an hour of completion)

eSign Screen Shots

Email Borrower receives:

eSign Screen Shots

Secure E-signature Portal: First Screens when you

click link

eSign Screen Shots

Borrower first reviews all documents: They must scroll to the bottom to the disclosures to continue and hit next.

eSign Screen Shots

Next borrower is prompted to esign:

eSign Screen Shots

Documents that need Wet signatures are prompted to be printed:

Secure E-delivery

• Required: At least one borrower email address

• Documents are produced and a link will be emailed to borrower. LO and LOA is added as CC

• HUD and CHARM booklet are attached to email sent separately through PCL.

• Borrower will have access to the documents for 1 week to print.

Secure Delivery Screen Shot

Email borrower received

Secure Delivery Screen Shot

Secure delivery portal:

Mail

• Documents are produced and emailed to LO and Fulfillment

• Fulfillment will print and mail only RESPA documents via USPS

• LO get a complete set of the disclosure signed

In person Loan Apps• If possible complete loan application

day before and e-mail gfe@movementmortgage.com

• For preference, indicate secure delivery.

• If it is a walk-in or borrower would not give you information over phone, put RUSH in subject line or call GFE support line 877-202-0191.

• For a RUSH, the expected turnaround is 15 – 20 minutes.

• Docs will be sent via secure email to you and your borrowers

Conclusion• As always, it is about setting

borrower’s expectations. • Tell borrower about the time to prepare

disclosures for in person loan app• If borrower chooses eSign or Secured

delivery, tell them to allow email from “docs@ConformX.com” or check spam folder if they do not receive an email ]

• Let borrower know of 24 hour window for doing eSign