Loan Submission Guide

TRID 2015

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This Loan Submission Guide is for applications taken on or after October 3, 2015. ◦ The purpose of this guide is to assist you with a successful loan

registration. ◦ In effort to remain compliant with the CFPB, all applications

must be submitted to BOFI within 24 hours of completion. ◦ Loans submitted more than 24 hours after a complete

application is taken will be rejected.

Loan Submission Guide with TRID updates.

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Getting started Successful upload and next steps Submission requirements for BOFI

Brokered//Correspondent Registering your loan

TABLE OF CONTENTS

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1. Go to www.bofifederalbank.com.2. Click on the “Home Loans” tab and then “Third Party

Lending”.3. Click on the “Wholesale and Correspondent sign in”

button.

4. Enter Username and Password.

GETTING STARTED

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5. At the bottom of the page, click on “Upload a Loan” This may prompt an additional log-in

6. Enter Loan Officer information7. Choose product8. Upload your Fannie Mae (FNMA) 3.2 file

9. You will receive the following message: “File upload successful, the new internal loan number is XXXXXX”

GETTING STARTED… CONTINUED

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Once you have a successful upload, you will see the loan details screen. To upload required documentation, click on the conditions tab and select the condition which you will be uploading to.

SUCCESSFUL UPLOAD AND NEXT STEPS

Click on the upload button and the condition upload screen will show up. You can browse to find your file and then click “start upload”.

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BROKERED LOANS: 1003:

Must have all 6 pieces of information required to consider the file an application Must be dated and signed by the LO within 24 hours of submission Must have LO and Company NMLS numbers accurately reflected Must be signed by the borrower(s)

Signed borrower’s authorization Submission Fee Sheet:

Use BOFI’s Submission Fee Sheet that is available online under the forms tab. Select the tab for either “Lender” or “Borrower” paid origination on the fee sheet. Once completed, upload the Fee sheet to the “Submission Fee Sheet” condition.

An email address and phone number is required for ALL borrowers. We will disclose electronically and all borrowers are required to e-sign their

disclosures. All borrowers on Owner Occupied Refinances must provide their own e-mail address. Non-borrowing spouses/other consumers on rescindable transactions must receive the initial

LE. An email address for each additional consumer must be provided. Foreign National borrowers must have a US mailing address and phone number.

SUBMISSION REQUIREMENTS for BOFI FEDERAL BANK

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CORRESPONDENT LOANS: 1003:

Must be dated and signed by the LO Must have LO and Company NMLS numbers accurately reflected Borrower email address and phone number

Foreign National borrowers must have US mailing address and phone number Disclosures:

Must be dated in compliance (within 3 business days) to the 1003 Loan Estimate:

Must be dated in compliance to the 1003 Itemization of fees to match your LE Impounds are required on all HPML loans Compliant COC is required for any re-disclosed LE(s) Need proof of receipt of LE by non-borrowing spouses/other on rescindable

transactions. Can be a read receipt or email acknowledging receipt of LE.

Credit Report: Must be dated within 90 days

SUBMISSION REQUIREMENTS for BOFI FEDERAL BANK

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Once the minimum documentation has been uploaded, select the “Submit My Loan” tab on the right side of the screen.

Enter all information requested under this tab and click on the “Submit Request” button once complete.

Your loan will now be in a registered status. Intake will review the file and send initial disclosures if

information provided is compliant on Wholesale loans.

REGISTERING YOUR LOAN