AIO DELIVERY ESSENTIALS-WHOLESALE …docs.cmgfi.com/wholesale/aio/aio-delivery-essentials.pdfFor Mortgage Professionals only. LOAN INFORMATION: 1. Loan Program: Select from drop down

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© 2020 CMG Financial, All Rights Reserved. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS# 1820 in most, but not all

states. ©All In One Loan™ and the All In One logo are trademarks of CMG Financial. All rights reserved. For Mortgage Professionals only.

AI O DELIV E RY E S SE NT IAL S -W HOL E SAL E

The All In One Loan (AIO) is not subject to TRID rules, so the creation and life of this loan

program follows a different path. This document will walk the User through the creation and life

of an AIO loan.

CRE ATI NG L OAN IN CLE AR

Sign into CLEAR at https://www.cmgclear.com/Wholesale/#/

Select the Create Loan tab.

1. Loan Officer Details: Select the Loan Officer’s name from the drop down.

2. Loan Processor Details: Select the Loan Processor’s name from the drop down.

3. Additional Contact Details: If applicable, select an additional contact from the drop down.

https://www.cmgclear.com/Wholesale/%23/

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4. Do you have an application? Yes

5. Do you have a property address? Yes

a. The AIO loan does not accept TBD loans.

6. Is this a CMG AIO/All In One Product? Yes

7. Which state is the subject property in? Select state from drop down

8. Application Date: Enter application date

9. Do you have a 3.2 file available for upload? Yes (if you have a 3.2 file available). No

(you will be required to manually complete the screens on the next page).

10. Select the 3.2 file

11. Click on Next to advance

On the next screen the User will be required to confirm the information and complete a few data

points.

B ORROWE R INF ORMA T I ON:

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L OA N I NFORMA T I ON:

1. Loan Program: Select from drop down

2. NOTE: Initial Draw Amount cannot exceed 99% of the Loan Amount

S UB JE CT P ROP E RTY I NF ORMA T I ON :

MA RGI N AND I MP ORT A NT TE RMS: T HIS S E CTI ON RE P L A CES T HE AI O

ORI GI NATI ON W ORK S HE E T

1. Select the margin from the drop down.

2. Requested Price – format your YSP using 101.00 for 1.00 YSP, 100.500 for .500

YSP, etc.

3. Admin Fee - this will be auto populated to reflect the required fee

Items 4 through 7 are optional fields and should match the initial fee worksheet you as the

Broker provided to the borrower.

4. Origination Fee ($): Max 4.00% (YSP + Origination)

5. Processing Fee

6. Third Party Processing Fee

7. Broker Credit

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NOTE: The AIO Origination Worksheet is no longer required

F E E I NF ORMA T I ON, P RE PA I D & E S CROW : T HI S INF ORMA TI ON I S COL L E CT E D I

N ADV A NCE F OR CL OS I NG

CL I ENT DE F I NE D FE E S :

1. Select the fee(s) from the drop down and then click add.

2. Enter the fee Amount for selected fee(s).

3. After all fields have been completed, Select Register in the lower right-hand side of the

screen. If any fields have been missed, the User will receive an error message and the

field will be highlighted in red.

NOTE: If fees are not being input at time of AIO Loan Creation, the CMG Registration Team will

require a fully complete and accurate fee worksheet. CMG will need this at time of loan

submission in order to finalize initial disclosures. If the fees have not been entered into CLEAR,

the disclosures and loan submission will be delayed until the initial fee worksheet is obtained, to

allow CMG to properly prepare the disclosure package.

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Once registered successfully, the User will be navigated to a confirmation page. Here the User

will find the CMG loan number associated with the file. In the content box titled ‘Registration-

Successful’ the following message should be displayed: “The Loan has been registered

successfully.”

Click on Loan Summary in the lower right-hand corner. This will take the User to the Loan

Summary page, here the User can upload the submission package.

L OAN SUBMI S S I ON

From the Loan Summary page, Click on Imaged File on the left-hand side of the screen.

Select Submissions and Conditions.

1. Select the Loan Processors name from the drop down.

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a. The processors phone number and email will automatically fill in based on the

information from their profile.

2. Additional Contact Detail, this is optional.

3. Select an Estimated Closing Date.

4. Check the attestation box.

In the next section, the User will find the submission checklist.

The All In One simulator results are required at submission.

• Go to www.aioloan.net to the enter the loan scenario and obtain the simulator results

http://www.aioloan.net/

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• Document Type – Loan Submission

• Submit

Once submitted CMG will prepare the full disclosure package and email to the borrower(s). The

User is required to send any state specific disclosures.

AP P RAISAL ORDER

The appraisal may also be ordered using the Appraisal Orders tab at the bottom of the Loan

Summary bar.

L OAN APP ROV AL

After loan submission, the loan will be assigned to an underwriter and subject to current turn

times.

Once approved, the underwriter will email the approval to the loan officer and/or processor. It

may also be found inside of CLEAR.

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1. Imaged File

2. View Documents

3. Document Category – Misc.

4. Document Type – Loan Approval

5. All Loan Approvals will be listed in chronological order

L OCK

All AIO loans are automatically locked by CMG when all PTD conditions have been fulfilled except for

the QA call

Locks are requested via email to [email protected] by the Account Managers/CSE’s. Margins

will need to be specified at time of lock request.

There is no defined lock term on AIO loans. All locks will expire on the last day of each month and

must fund at the end of the month (Rollback to Friday if end of month is a weekend or holiday)

Loans will require a relock and docs will need to be redrawn if the rate lock has expired and not

funded in the same month

Margin changes are permitted on locked loans. All margin changes must be requested through the

lock desk. If a higher margin is selected, the underwriter must review the loan prior to proceeding

with the lock

If the loan’s index value has increased, underwriting must review the file to recalculate the DTI and

ensure the borrower meets program allowances prior to redraw and closing

CL OS I NG

Once all conditions have been cleared, the Closing Request Portal will be open in CLEAR,

which allows the User to order closing docs. The Title Company will send the HUD to the

Closer at CMG. The CMG Closer will update our fees and send back to the title company with

the doc package.

NOTE: To help expedite the closing process, fully complete the Closing Request screen in

CLEAR. Be sure to provide the Origination Fee that is being charged. This will assist the CMG

Closer in balancing the HUD quickly with the title/escrow representative.

mailto:[email protected]

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S E RV I CE P ROV I DERS

Service Provider is based on program code.

• 801-MBI serviced by Merchants Bank of Indiana

• 801-MBI-5FIX serviced by Merchants Bank of Indiana

• 801-NPB serviced by Northpointe Bank

• 801-WAB serviced by Northpointe Bank

• 801-WAB NOO serviced by Northpointe Bank

• 801-WAB-3FIX serviced by Northpointe Bank

• 801-WAB-3FIX NOO serviced by Northpointe Bank

Servicing Characteristics and Differences by Investor

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801-MBI – Merchants Bank AIO

The Merchants Bank of Indiana serviced All In One Loan is accessible online at

www.merchantsbankofindiana.com or by calling their Customer Service Team at 1-877-779-

0112.

One feature difference is that the cards issued can only be used as a “credit” card. The credit

function provides the same convenience as a “debit” card.

1. ACH transfers (like bill-pay and bank-to-bank) are limited to $5,000 per day. However, is

a customer wants to increase that limit they can to a maximum of $99,000 by calling the Bank Customer Service Team.

2. Mobile deposits (taking a picture of a check) are limited to $5,000 per day. 3. ATM cash withdrawals and Point-Of-Sale (POS) purchases (such as paying for an item

at the grocery store) are limited to $1,000 per day. 4. Checks need to be ordered by the borrower online or by telephone after closing. There is

no daily limit on the amount a check can be written for and no limit on how many checks can be written.

5. There is no daily limit amount for an Electronic Funds Transfer (EFT) which includes employer Direct Deposits and external bank transfers into the All In One Loan account.

6. Non-borrowers can be added to the account as authorized users post-close by completing a form through the mortgage service provider and will be issued their own VISA card

801-NPB – Northpointe Bank AIO

The Northpointe Bank serviced All In One Loan is accessible online at www.northpointe.com or

by calling their Customer Service Team at 1-866-343-6220.

One feature difference is that the cards issued can be used as a “debit” card or a “credit” card.

1. ACH transfers (like bill-pay and bank-to-bank) are limited to $5,000 per day. However, is

a customer wants to increase that limit they can by calling the Bank Customer Service Team.

2. Mobile deposits (taking a picture of a check) are limited to $10,000 per day. 3. ATM cash withdrawals and Point-Of-Sale (POS) purchases (such as paying for an item

at the grocery store) are limited to $1,000 per day when used as a “Debit” card. 4. ATM cash withdrawals and Point-Of-Sale (POS) purchases (such as paying for an item

at the grocery store) are limited to $2,500 per day when used as a “Credit” card. 5. Checks need to be ordered by the borrower online or by telephone after closing. There is

no daily limit on the amount a check can be written for and no limit on how many checks can be written.

6. There is no daily limit amount for an Electronic Funds Transfer (EFT) which includes employer Direct Deposits and external bank transfers into the All In One Loan account.

7. Non-borrowers can be added to the account as authorized users post-close by completing a form through the mortgage service provider and will be issued their own VISA card.

http://www.merchantsbankofindiana.com/

http://www.northpointe.com/

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NOTE: 801 KP is available in 9 Counties in CA and is serviced by Keypoint Credit Union. Servicing information available upon request.

AL L I N ONE FAQS

1. Are TBDs allowed with the All In One loan?

a. Yes, on an exception basis. Please contact your Account Executive to discuss.

2. Does the program allow for first time homebuyers?

a. Yes

3. Who sends out the disclosures?

a. After loan submission, CMG will prepare and send the full

disclosure package to the borrower(s). Any state specific

disclosures are the responsibility of the broker.

4. When can I lock the loan?

a. All AIO loans are automatically locked by CMG when final

conditions are being submitted to underwriting for clear to close.

No action is needed by the Select Partner to lock AIO loans.

5. How many days do I have to wait before closing?

a. The All In One loan is not subject to TRID rules.

6. When is my first payment due?

a. The first payment is due around the 21st of the next month after

closing. You do not skip a payment with the AIO loan because no

interest is collected at closing. The interest is not paid in arrears.

7. Can I have escrow?

a. Escrows are never collected with the AIO loan.

8. Can I escrow flood?

a. Escrows are never collected with the AIO loan.

BE S T P RACT I CE S & HEL P F UL T I PS

1. When ordering title/escrow, be sure they are aware that this transaction will require a HUD 1 instead of a CD.

2. Welcome kits with bank account information should be received by the client within 4-5 weeks after funding date

3. AIO always requires a Right To Cancel Form to be signed, but the 3 day wait to fund only applies to owner occupied refinance loans. On all other AIO loans, the 3 day wait only applies to unused portion of draw. (applies to both wet/dry states)

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June 30, 2020


states. ©Allin One Loan' " and the Allin One logo are trademarks of CMG Financial. All rights reserved. For Mortgage Professionals only.

4. Resources can be found in CLEAR under Resources > All In One Loan > Wholesale -

AIO >Guidelines and/or Resources.

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