Lender Online: Loan Reservation

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Lender OnlineLoan Reservation Document
Submission to IFA

• Irene Hardisty, Director
• Irene.Hardisty_at_iowa.gov

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FirstHome Loan Process
1. Loan application
3. Pre-closing MRB Compliance by Lender
(Optional pre-closing MRB guidance from IFA)
2. Loan reservation
4. Delegated credit property underwriting by
Lender
5. Loan closed by Lender
6. Within 10 days following closing, Lender
uploads electronic closed package to IFA ships
closed loan file to USBHM.
7. Post-closing MRB Compliance by IFA
8. Post-closing mortgage purchase review by USBHM
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LOL Log in www.IowaFinanceAuthority.gov
Click on For Lenders Realtors Drop down
Lender Online
Each lender has a LOL administrative manager who
assigns password/userID to lender staff.
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Loan Reservation
Bulletin Board Rate Sheet, Announcements
Program Documents Generic documents information
Mortgage Options
Marketing Materials Lender resources, brochures, L
ink to IFA website
Reports
Locate loans in pipeline
Lost? go to Home
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Bulletin Board page
IFA Lender announcements Rate Sheets
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Program Documents
Program information including REOHome, generic
forms, other materials about IFA homeownership
programs.
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Example of ProgramDocuments formConventional
Loan Matrix
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FirstHome loan reservation
Click on New Reservation Select loan
type Not sure review More Details
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Reservation, Program,More Details example of
MyCommunity Pus.
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Loan Reservation Screen - top
Guide to info
Correct program
1003 import XML (Change income to annual!)
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Loan Reservation Screen - bottom
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Completion of Loan Reservation may enter cell
by cell or upload from 1003 inXMLfile

• A. Complete as fully as possible,
• Information will load into printed reservation
  and
• Printable MRB forms
• Asterisk cells are required
• If no options, leave blank
• B. First Mortgage
• Lender Loan No
• Loan Amount
• Term months
• Interest Rate
• Secondary Market Fee
• C. Borrower
• Borrowers First Name Middle InitialLast
  Name
• Soc. Sec. No
• Date of Birth or Age
• Sex
• Ethnicity

• Marital Status
• Single Parent
• Occupation
• Credit Score
• D. Current mailing address
• Street
• City/Other City
• State
• Zip
• County/Other County
• Home Phone
• Business Phone
• E. Check if Co-borrower
• Soc. Sec. No
• Sex
• Marital Status
• Single Parent

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Cont loan reservation

• Community Code
• Disaster Code
• Veteran
• Disaster Code Veteran
• Target/Non-Target
• Project/Builder
• H. Annual Income if XML file change from monthly
  to annual
• Borrower Wages
• From Assets
• Other
• Subtotal
• Co-Borrower Wages
• From Assets
• Other Subtotal
• Non-Applicant Income
• Subtotal/Total

• F. Property
• Purchase Price
• Acquisition Cost
• New/Exist/Rehab
• Year Built
• No. of Units
• Housing Type
• G. Property address
• House No.
• StreetUnit No.
• City
• Zip- County
• MSA
• Census Tract (link to locate)
• Block Group

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Cont loan reservation

• I. Household
• Household Size
• Prior Homeowner
• No. of Income Recipients
• Date
• Last Occupied
• No. of Persons 18 or Over
• Net Worth Amount
• No. of Persons Under 18
• No. of Dependents
• No. of Disabled/Handicapped
• No. of Elderly

• K. Officers Contacts
• Loan Officer
• Loan Processor
• Contact Person
• Transcriptor
• Real Estate Company
• Real Estate Agent Name
• Submit
• Will advise of any errors omissions before
  proceeding
• K. Reservation Confirmation
• May view or print

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Reservation Confirmation
Retrieve via reprint icon in Loan Status
screen. May view or print (Suggest save/print
to Adobe/pdf)
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Locating loans in pipeline
From your LOLHome, click on Loan Status
Enter specific loan information or select from
list
View loan status - Compliance approval
Retrieve loan reservation confirmation
Access MRB documents, Plus Request
Form, Military Home Ownership Assistance Request
and Agreement Certification
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Loan Status

View all loans View progress, IFA action, subsidy
approval
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Retrieving documents forms
From Loan Status click on button in 3rd column,
left side, then this screen will appear. Select
documents, all or only those needed for this loan
Generate forms, and then print.
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Attaching Documents Forms(Edocs)
All forms (MRB docs, Plus, MHOA, et al) relevant
to FirstHome Mortgages. Final MRB documents
must be lender certified true copy.
Save scanned or Adobe document in Lender PC file
Loan status tab, Then click on Edoc to upload
scanned documents.
Lenders without scanning or Adobe document, may
fax [phone]) attention MRB.Compliance_at_iowa.
gov Plus.inquiry_at_iowa.gov Military.grant_at_iowa.gov
But there may be a one day delay in reviewing
documents.
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Edocuments uploading packagesA. Post
Closing B. Pre-closingC. REOHome D. MHOA
C
A
D
B
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Cont Uploading scanned docs
Click on click here Which will open the
browse box Browse locate scanned filed
document. Then click on upload
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Document uploaded to LOL
Document loaded Select document name Add
comments, if needed Save.
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Editing the uploaded docs Then SUBMIT
Heres the document Add another Replace
document Delete packet Submit the package
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Successful Submission of Edoc
The 1 reason for failed document submission is
not clicking on submit button Should get this
message with submission Click close back to
loan status screen.
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Loan view loan stage/status
From Home Click on Loan Status (Will pull
up list of loans) Click on View (Left
column)
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Loan view loan stage/status
From Home Click on Loan Status (Will pull up
list of loans) Click on View (left
column) Stages/Status Conditions/Rejection
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Lender On Line Stages

• Stages
• Reserved
• Pre Closed received
• Pre Closed reviewed
• Post MRB Doc received
• Post MRB Doc reviewed
• Commit to Purchase

• Stage status
• Approved
• Apprvd/Fnl Docs
• Cancelled
• Error
• Incomplete
• Ineligible
• Received
• Rejected
• Response given

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IFA Staff Contacts anyone can help but
following are primary areas

• Sheri Krohn, Lender Online issues/questions.
• Sheri.Krohn_at_iowa.gov (515-725-4940)
• Judy Hartman, Military Homeownership Assistance,
  MRB Compliance
• Judy.Hartman_at_iowa.gov (515-725-4960)
• Lisa Braunschweig, FirstHome Plus, MRB Compliance
• Lisa.Braunschweig_at_iowa.gov (515-725-4928)
• Karen Rasmussen, Recapture, MRB Compliance
• Karen.Rasmussen_at_iowa.gov (515-725-4927)
• Irene Hardisty, Director of Single Family
  Production
• Irene.Hardisty_at_iowa.gov (515-725-4983)