SOAR: Delegated User Guidemay be able to view all the loans that your team has entered or submitted to FGMC. The initial pipeline view shows tiles containing preset filters that indicate

SOAR: Delegated User Guide FGMC Correspondent

December 2019 Page 2 of 25 CONFIDENTIAL DOCUMENT First Guaranty Mortgage Corporation must give prior written permission for this work, or any part thereof, to be used, reproduced, or transmitted in any form or by any means, by or to any party outside of First Guaranty Mortgage Corporation, its regulators, and investors.

SOAR: Delegated User Guide Correspondent Portal

Table of Contents

INTRODUCTION 3

SECTION 1: GETTING STARTED 5 Access to SOAR ........................................................................................................................................ 6 Navigation .............................................................................................................................................. 10 Pipeline .................................................................................................................................................. 11

SECTION 2: DELEGATED LOAN SUBMISSION 15 Add a Loan ............................................................................................................................................. 15 1003 Form .............................................................................................................................................. 16 Product, Pricing & Lock .......................................................................................................................... 17 Documents ............................................................................................................................................. 21 Submit a Loan ........................................................................................................................................ 22

SECTION 3: POST SUBMISSION 24 Purchase Conditions ............................................................................................................................... 24 Purchase Advice ..................................................................................................................................... 25



Introduction This guide is intended to help you work with FGMC’s Client Portal, SOAR, which connects directly to our loan origination system (LOS). SOAR provides a central online location where you can originate, process, and monitor loans. After logging into the portal, you can register new loan files or import loan files from a Fannie Mae formatted file. Once the loan is registered, you can take actions such as order/re-issue a credit report or search for product and pricing options. Once the loan is submitted to FGMC for review, you can also use SOAR to monitor the loan’s status. At the same time, we can monitor the loan activity in our LOS and ensure we are receiving all the necessary information to process the loan. Prior to submission, changes made to the loan file in the portal are reflected in the loan when opened in our LOS and vice versa.

This guide provides the necessary instructions to log in to the portal, register, and process Delegated Correspondent loans.



Section

1

Getting Started



Section 1: Getting Started This section explains how to begin utilizing the SOAR portal. Information in this section is provided to get you started, but additional steps may be required to complete these processes. These tools are discussed in detail later in this guide. You can access the SOAR portal from FGMC’s Correspondent website at https://fgmc.com/correspondent/.

After accessing the SOAR portal from the Correspondent website, the following options are available.

a. Lending Library

• Correspondent Lending Library

• Maverick Solutions Lending Library

b. Quick Links

• Resources

• Training

c. Contact Us

d. Login

https://fgmc.com/correspondent/



Access to SOAR Once your company is approved by FGMC, we will assign an employee from your company to be the portal administrator. The portal administrator is responsible for managing user accounts, updating company information, adding new users, and assigning the user personas. The portal administrator will receive an email from FGMC, providing the portal administrator with a link to the portal, along with a login name (their email address) and a temporary password. The portal administrator can view our step-by-step Account Management video tutorial to watch a live demonstration for adding users and adjusting personas.

Initial Access to the Portal Select the link provided in the email to the portal administrator or click here to access the

portal.

Log in to the portal using your email address and the temporary password provided in the email.

Create a new password on the Change Password page.

NOTE: Be sure to keep track of your new password. FGMC will not have access to it.

If your company is not set up to submit loans to FGMC, click here to provide your information and one of our Account Executives or Transaction Managers will contact you to start the process.

Adding Users to the Portal For other employees within your company to gain access to the portal, the portal administrator must create a contact record for each user and assign a persona. Please review our SOAR-Personas Job Aid to ensure you are assigning the correct persona to each user. Follow the steps below to add a new user to your account.

NOTE: This option is only available to users with the Account Management persona. It is possible to have more than one user with the Account Management persona within your company.

Select your user name in the top-right corner and click Manage Account.

Click the Company Account tab.

Scroll to the Company Contacts section and select Add Contact to add a new user.

https://fgmc.com/correspondent/resources/training/







Enter the required* information for the new user.

• The Organization field enables you to select the branch within the organization where this contact should be created. Click Choose to select the organization option and then select the organization entry and click Save.

• The Persona field enables you to select an available persona to assign to the TPO Contact. Click Add Persona to choose the persona for the contact. (You may select more than one persona.) Click Save when complete.



Make the appropriate selections for the checkboxes below (if applicable).

• View access to team’s loans – Gives the user the ability to view all loans for your company.

• Edit team’s loans – Gives the user the ability to edit loans within your company.

Select the Save button when finished.

• The user will receive an email providing a link to SOAR, along with a login name (their email address) and a temporary password. The user can log into SOAR; however, their licensing information needs to be submitted to and then approved by, FGMC. (This rule applies to branches that will use the portal as well.)



User Login Select Log In from the Correspondent homepage.

Enter your email address and password, then click Login.

NOTE: Checking the Remember Me box will remember the email address for future use.

If you have forgotten your password, you can reset a forgotten password by clicking the Forgot Password link. You will receive an email with instructions on how to reset your password within a few minutes.

Change your Password Click your user name in the top-right corner and click Change Password.

Enter your current password in the Current Password field.

Enter a new password in the New Password field.

Re-Enter the new password in the Re-enter New Password field.

Click Save.



Navigation Once logged in, your access to the portal will vary based on your account persona. The portal administrator can grant users access to the portal and update their account information. All users will have the ability to change their password and access tools located on the top toolbar.

The toolbar is available on all screens within the portal. Access the following information via the toolbar.

• Welcome – Return to the welcome page

• Pipeline – View your pipeline

• Add New Loan – Add a new loan to your pipeline

• Scenarios – Price a loan (Not available to all personas)

• Lending Library – Access the Correspondent and Maverick Solutions Lending Library

• Quick Links – Access Resources, Training, and Turn Times

• Documents – Access important documents



Pipeline Select the pipeline link on the top toolbar to view your pipeline of loans. As you create new loans, they will appear in your pipeline. Depending on your assigned role and permissions, you may be able to view all the loans that your team has entered or submitted to FGMC.

The initial pipeline view shows tiles containing preset filters that indicate the status of a file. When a tile is selected, all files associated with that filter appear. FGMC has created the following tiles to organize your pipeline better.

Delegated Tiles:

• All Loans

• Cleared for Purchase Collateral Not Received

• Cleared for Purchase Collateral Received

• Locked – Closed Loan Package Not Received

• Post Purchase Conditions

• Reviewed with Conditions

• Summitted Not Reviewed

Customize Your Pipeline To customize your pipeline view, make the appropriate selections from the menu on the left-hand side of the page.

If applicable, select the appropriate channel.

• Correspondent Delegated

• Correspondent Non-Delegated

If applicable, make the appropriate selection to view All Loans or My Loans.

• All Loans - View all loans for your company that have been registered within the SOAR portal.



• My Loans - View only the loans you have registered with the SOAR portal.

Filter Your Pipeline The Advanced Filter option allows users to create their pipeline view by selecting their preferred filtering options.

Select Advanced Filter from the pipeline page. Choose one or more filters to apply to your pipeline view, then click Apply Filters.

Note: To clear any applied filters, select Clear Filters.

Loan Summary Page Select any file in your pipeline to view the Loan Summary page. The Loan Summary Page provides a concise profile of the loan. There are several tiles that display the borrower information with basic loan terms, rate and lock information, the current loan status, property information, and credit information. There is also a list of key dates on the right side of the page.

a. Summary Bar The Summary Bar contains the borrower’s name, address, loan number, total loan amount, loan type, loan purpose, rate, and LTV/CTLV information. In addition, the following icons are available.



- Loan Messages

- Key Loan Contact Information

b. Loan Information The Loan Information tile provides LTV/CLTV values, the base loan amount, MI information, and any sub financing.

c. Property information The Property Information tile provides the property address, estimated value, appraised value, and purchase price.

d. Loan Status Information The Loan Status tile provides the status of the loan as the file moves through each milestone. As the key dates are updated in Encompass, the title of this tile changes to reflect the state of the loan. Outstanding purchase conditions can be seen and accessed from this tile by selecting the Show Details link. In addition, the AUS information, down payment, reserves, P&I, and DTI information can be seen from this tile.

e. Credit Summary Once credit has been ordered or reissued through the system, the Credit Summary tile provides the Credit Score and Credit Ordered date.

f. Key Dates The Key Dates section provides transparency as the file passes key milestones. The Key Dates are updated once the loan enters that milestone in FGMC’s loan operating system.



Delegated Loan Submission

Section

2



Section 2: Delegated Loan Submission This section explains how to use the SOAR portal to submit a loan successfully to FGMC. This section will provide the click-by-click process for the following functions: add a loan, obtain product and pricing, lock a loan, adding and viewing documents, submitting a loan, and uploading and viewing purchase conditions.

Add a Loan Using the SOAR portal, you can begin registering your loan by importing an existing loan file from a DU 3.2 File (*.fnm). Once the loan is uploaded and saved on the Correspondent Loan Registration screen, the file will appear in your pipeline.

Click the Add New Loan button from the top toolbar.

Drag and Drop the FNM 3.2 File or select Click to Browse to upload the file into the place holder.

Enter any required* information in the Loan Information fields.

Select the appropriate Submission Contact for the File Contact information.



Note: A file contact must be selected. If a file contact is not selected, the following error message is received.

Click Save to register the loan. An electronic 1003 form displays.

1003 Form Once the loan is registered, an electronic 1003 for appears. Information from the uploaded 3.2 file will auto-fill. You can review the form to ensure the information is correct. To navigate the 1003 form, select the name of each application page listed on the left side of the page or the select ‘Next’ to review each page.

To save changes to the 1003 form:

To save the information you have entered on the 1003 form, click the Save button. The Save button is located at the top and bottom of every page on the 1003 form.



Product, Pricing & Lock Use the Product Pricing & Lock option from the menu on the left-hand side to run your loan scenario through our product and pricing engine.

Click the Product Pricing & Lock link on the left menu, and then click Search Product & Pricing.

Enter the required* information.

Click the Search Product & Pricing button. The Optimal Blue product search page displays.



Review the information, make any additional selections, and click Submit. The product and pricing search results display.

Select the name of the product or click Show in the detail column to view the details of an eligible or ineligible product.



Select the Blue Lock icon to select the product for this loan and view the loan level

adjustments. The Lock Form appears.

Enter your email address in the LO Email Address field.



NOTE: You will receive a confirmation email indicating your lock has been requested. You will receive an additional email once the lock is approved.

Review the product information click Request Lock to submit a lock request for this program.

NOTE: Once the lock is requested, the product and lock information displays on the Loan Summary screen.

Submit a Change Request Use the Change Request button if you need to submit a lock extension request, update loan terms, or search for updated products from the Optimal Blue pricing engine after a lock request has been submitted.

Select the Product Pricing & Lock link on the left menu.

Click Change Request.

Click the Change Request icon ( ) on the OB Change Request page and select the type of change you would like to make.

Follow the on-screen instructions from Optimal Blue to complete the change request.



Documents FGMC requires the Correspondent Closed Loan Package upon initial upload for Delegated loan files. This package should include the FGMC Delegated Loan Submission Form and any required or supporting documentation. You can upload documents by selecting Documents from the menu on the left-hand side.

NOTE: Documents must be uploaded to the appropriate placeholder within SOAR to avoid delays with your loan file.

Select the Documents from the menu on the left-hand side.

Drag and drop your closed loan package in the Correspondent Closed Loan Package place holder or click the Browse for files button to select a file to attach to the document entry.

NOTE: As you complete specific processes within the portal, such as locking the loan or running credit, the corresponding document automatically appears on the documents page. For example, the FGMC Lock Confirmation will appear if the loan was locked in the portal and the Credit report will appear if credit was ordered/reissued within the portal.

To move a file:

Click the Expand Icon ( ) to expand the document entry.

Click the Move Icon ( ) and follow steps three through four to select a new document entry to attach the document.

NOTE: Documents must be uploaded to the appropriate placeholder within SOAR to avoid delays with your loan file.

To download a document:

Click the Expand Icon ( ) to expand the document entry.

Click the Download Icon ( ).



Submit a Loan Use the Submit for Review button to notify FGMC that the loan submission is complete, and the file is ready for review. As a reminder, FGMC will not begin reviewing the loan until the loan is submitted using the Submit for Review option. As the loan moves through the review process in FGMC’s loan operating system, the milestone on the Loan Summary will update.

To Submit a Delegated Loan to FGMC:

Click the Submit for Review link from the Loan Actions menu.

Review the loan information on the Submit for Review page and click Submit for Review.

NOTE: If your loan file is missing any required fields or documents, an error message appears in a pop-up window. Complete the required fields and select update to submit the file.



Section

3

Post Submission



Section 3: Post Submission Once you have submitted a loan to FGMC, you may need to perform additional loan actions. This section provides the click-by-click process for the following functions of the SOAR system: viewing and uploading purchase conditions and viewing the purchase advise.

Purchase Conditions Once FGMC has reviewed the loan, you can view the conditions that have been added on the Purchase Conditions page. There, you can view condition details and add documents to satisfy each condition.

Note: If FGMC is working the file, no action can be taken on the loan and the following message appears.

To Satisfy a Purchase Condition:

Click the Conditions link from the menu on the left.

Click the Expand Icon ( ) to view the condition details.

Dag and drop the file or click Browse for files to upload document files.

Select the Notify Lender button once all conditions are uploaded.

Note: Once the Notify Lender button is selected, FGMC will receive a notification that the conditions were uploaded. If the Notify Lender button is grayed out, FGMC is still able to view the condition documents.



Purchase Advice Once a Loan has been ‘Cleared to Close’ and ‘Submitted for Purchase,’ FGMC will complete our internal purchase review process. Please refer to your company’s documentation for your purchase guidelines.

When FGMC reviews the loan and has cleared all purchase conditions, then FGMC will approve the loan for purchase. After the FGMC indicates that the loan is ‘Cleared for Purchase,’ if granted access, you will be able to view the ‘Purchase Advice,’ which documents the terms under which the loan will be purchased.

To view the Purchase Conditions:

Click the Purchase Conditions option from the menu on the left-hand side.

Click the Print ( ) icon to print the current list of fees.