BOOST User Guide FGMC Wholesale - First Guaranty Mortgage
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BOOST User Guide Wholesale Portal Table of Contents INTRODUCTION ...................................................................................................................... 3 SECTION 1: GETTING STARTED ................................................................................................ 5 Access to BOOST ................................................................................................................................. 6 Navigation ........................................................................................................................................ 10 Manage your Pipeline ....................................................................................................................... 11 SECTION 2: LOAN SUBMISSION .............................................................................................. 15 Add a Loan ....................................................................................................................................... 15 1003 Form ........................................................................................................................................ 17 Order/Reissue Credit ........................................................................................................................ 18 Order AUS ........................................................................................................................................ 20 Product Pricing & Lock ...................................................................................................................... 22 Documents ....................................................................................................................................... 27 Submit the Loan................................................................................................................................ 28 SECTION 3: POST SUBMISSION .............................................................................................. 30 Conditions ........................................................................................................................................ 30 Extending a Lock ............................................................................................................................... 31 Change of Circumstance .................................................................................................................... 32 Reviewing Fees ................................................................................................................................. 33 Disclosure Tracking ........................................................................................................................... 33 September 2021 Page 2 of 33 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.
BOOST User Guide Wholesale Portal Introduction This guide is intended to help you work with FGMC’s Broker Portal, BOOST. BOOST connects directly to our loan origination system (LOS) while providing a central online location where you can originate, process, and monitor loans. After logging into the portal, you can register new loan files by importing a loan file from a Fannie Mae formatted file, assigning the DO findings, or registering the loan manually. Once the loan is registered, you can take actions such as re- issuing a credit report, running AUS, or searching for product and pricing. Once the loan is submitted to FGMC for review, you can monitor the loan’s status. At the same time, we can monitor the loan’s activity in our LOS and ensure we are receiving all the necessary information to process the loan. This guide provides the necessary instructions to log in to the portal, register, and process Wholesale loans. September 2021 Page 3 of 33 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.
BOOST User Guide Wholesale Portal Section 1 Getting Started September 2021 Page 4 of 33 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.
BOOST User Guide Wholesale Portal Section 1: Getting Started This section explains how to begin utilizing the BOOST 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 BOOST portal from FGMC’s Wholesale Website at https://fgmc.com/wholesale. After accessing the BOOST portal from the Wholesale website, the following options are available. a. Quick Links allows access to the following information: • Wholesale Website • Training Information • Daily Rates Sign-up Sheet • Operational Contacts • Non-Delegated Correspondent Website b. Product Guides (Not accessible until you have logged into the system) c. Important Document/Forms (Not accessible until you have logged into the system) d. Contact Information e. Login September 2021 Page 5 of 33 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.
BOOST User Guide Wholesale Portal Access to BOOST 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 view a live demonstration for adding users and adjusting personas. Initial Access to the Portal Select the link provided in the email to open 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, or click here to submit your information and we 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 BOOST- 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. September 2021 Page 6 of 33 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.
BOOST User Guide Wholesale Portal 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 select the persona for the contact, and then select one or more personas and click Save. September 2021 Page 7 of 33 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.
BOOST User Guide Wholesale Portal Make the appropriate selections for the checkboxes below as 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. Note: The new user will receive an email providing a link to BOOST, along with a login name (their email address) and a temporary password. The user can log into BOOST; however, their licensing information needs to be submitted to and then approved by, FGMC before they can submit loan files. (This rule applies to branches that will use the portal as well.) September 2021 Page 8 of 33 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.
BOOST User Guide Wholesale Portal User Login Select Login from the Wholesale homepage. Enter your email address and password, then select 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. September 2021 Page 9 of 33 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.
BOOST User Guide Wholesale Portal 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 • Quick Links – Access training material and sign up for rate sheets • Product Guides – View FGMC’s product guides • Important Documents/Forms – Access FGMC’s Wholesale Lending Broker Guide, Wholesale Lock Policy, and Submission Forms • Documents – Access important documents September 2021 Page 10 of 33 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.
BOOST User Guide Wholesale Portal Manage your 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. • All Loans • Locked • Saved Not Submitted • UW Decisioned • Disclosure Sent • Closing Docs Sent • Clear Close • Funded • Floating/Not Locked Note: A single loan can be represented in more than one milestone. Filter Your Pipeline View The Advanced Filter option allows you to create a preferred pipeline view by selecting additional 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: If you have the appropriate persona, click All Loans from the menu on the left- hand side to view all company loans or click My Loans to view only the loans you assigned to you from within the portal. September 2021 Page 11 of 33 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.
BOOST User Guide Wholesale Portal 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, as well as the base loan amount, MI information, and any sub financing. c. Lock Information The Lock Information tile provides the rate of the lock, amortization Type, Amortization Term, and the name of the loan program. Click Search Product and Pricing to access the Product Pricing and Lock page from this tile. d. Property information The Property tile provides the property address, estimated value, appraised value, and purchase price. September 2021 Page 12 of 33 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.
BOOST User Guide Wholesale Portal e. 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. f. Credit Summary Once credit has been ordered or reissued through the system, the Credit Summary tile provides the Credit Score and Credit Ordered date. g. 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. September 2021 Page 13 of 33 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.
BOOST User Guide Wholesale Portal Section 2 Loan Submission September 2021 Page 14 of 33 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.
BOOST User Guide Wholesale Portal Section 2: Loan Submission This section explains how to use the BOOST portal to submit a loan successfully to FGMC. This section provides the click-by-click process for the following functions within the portal: import a loan, obtain product pricing, lock a loan, upload documents, order/reissue credit, run AUS and submit the loan to FGMC for Underwriting review. Add a Loan You can begin submitting a loan to FGMC by importing an existing loan file from a DU 3.2 File (*.fnm), creating a loan manually, or assigning the DO casefile to FGMC. Once the loan is uploaded and saved on the Wholesale Loan Register screen, the file will appear in your pipeline. To Upload a Loan: Click the Add New Loan button from the top toolbar. Select the appropriate options for the loan officer and loan processor and click Next. Make the appropriate selection for the Initial Loan Estimate. Make the appropriate selection for uploading the loan file. September 2021 Page 15 of 33 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.
BOOST User Guide Wholesale Portal • Import Loan Data from FNM 3.2 – If you choose to import your file via an FNM 3.2 file, you will need to drag and drop your file or select browse to upload. • Manual – If you choose to enter your information manually, you will need to enter the required* information on the next screen. • Import from DO Casefile – If you choose to import your file from DO, please ensure the case file is assigned to FGMC before entering the Casefile ID. Click Next. The Quick Register Wholesale Loan screen appears. Ensure the information is correct and click Save to register the loan. An electronic 1003 form displays. September 2021 Page 16 of 33 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.
BOOST User Guide Wholesale Portal 1003 Form Once the loan is registered, an electronic 1003 form 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. September 2021 Page 17 of 33 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.
BOOST User Guide Wholesale Portal Order/Reissue Credit Once you have registered the loan and reviewed the information on the 1003 form, you can order or reissue credit. Using the Reissue option from the Loan Actions menu, you can order or reissue credit and import the credit report into BOOST. If the loan includes more than one borrower pair, you must use the same credit provider to order credit for each borrower pair. After the credit is ordered or reissued, liabilities can be imported into the 1003 form. NOTE: If you choose to run AUS within the portal, credit must be ordered or reissued first. To Order or Reissue the Credit Report: Click Order/Reissue Credit from the Loan Actions menu. Select the Credit Provider from the drop-down list and indicate if the information is a New Credit Order or Reissue of Credit. NOTE: You must enter the Reference Number if you are reissuing credit. Select the appropriate option (Individual or Joint) from the Request Type drop-down menu. Enter your credit credentials (User Name and Password). NOTE: Select the checkbox if you would like the portal to Save Credit Provider and Login for future use. Confirm that the order information is correct on the Order Credit page, and then click the Order Credit button to submit the order. A confirmation message displays once the credit report is received. September 2021 Page 18 of 33 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.
BOOST User Guide Wholesale Portal To Import Liabilities: Click the Import Liabilities button to import liabilities. Review the liabilities from the credit report and select Import Liabilities again. If liabilities currently exists on the 1003, a pop-up message appears confirming if you would like to replace the current liabilities. Check the box as applicable and click Continue. Click Close to complete the process. September 2021 Page 19 of 33 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.
BOOST User Guide Wholesale Portal Order AUS After completing the 1003 form in BOOST, you can submit your loan for automated underwriting through Fannie Mae Desktop Underwriting (DU) or Freddie Mac Loan Product Advisor (LPA). It is possible to run both automated underwriting options within the portal if necessary. NOTE: If you choose to run AUS within the BOOST portal, you must first order or reissue a credit report. Submit for DU Click Order DU from the Loan Actions menu. Enter the User Name and Password for the Credit Provider. • If you have ordered credit, the credit information is pre-populated. Enter the FHA Lender Identifier if the loan is an FHA loan. Click the Order DU button. The report opens in a new tab in your web browser. NOTE: You can also click the View Findings Report button to view the report. September 2021 Page 20 of 33 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.
BOOST User Guide Wholesale Portal Submit for LPA Select Order LPA from the Loan Actions menu. • If you have ordered/reissued credit, the credit information is pre-populated. If you have not, click Order Credit to order/reissue a credit report first. Enter the required* information. NOTE: This screen will vary by loan type. Click Order LPA Underwriting. Review the results on the LPA Results page and select one of the following: NOTE: The documents returned by LPA are viewable under the Documents page. September 2021 Page 21 of 33 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.
BOOST User Guide Wholesale Portal 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. To Lock or Float a Loan: Click the Product Pricing & Lock link on the left menu, and then click Search Product & Pricing. Enter the required* information. September 2021 Page 22 of 33 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.
BOOST User Guide Wholesale Portal Reminders: • The Loan Type for Non-QM products should always be Conventional. • Use the Loan Documentation Type drop-down menu to select Full Documentation or Alternative as applicable. • Select Not Waived from the Impound Waiver drop-down menu for all Non-QM loans. • Select No from the Prepayment Penalty drop-down when searching Product & Pricing for the Champion (Prime Jumbo) or Achiever (Expanded Credit) products. Select Yes for the Visionary (Investment) product. • You must indicate whether the compensation is Lender or Broker paid. • You must enter a Target Rate or Target Price. • Select 30, 45, or 60 from the Lock Period drop-down menu, as applicable. Click the Search Product & Pricing button. The Optimal Blue product search page displays. September 2021 Page 23 of 33 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.
BOOST User Guide Wholesale Portal Reminders: • Ensure the Cash-Out Amount is cash to borrower. • Self-Employed Bank Statement Program: o Self-Employed drop-down should be Yes o Select the appropriate bank statement program from the NQM Income Doc drop-down menu. • Debt Service Coverage: o Self-Employed drop-down should be No o NQM Income Doc drop-down menu should be N/A o Debt Service Coverage Ratio drop-down should be Yes • Asset Depletion: o Self-Employed drop-down should be No o NQM Income Doc drop-down menu should be N/A o Asset Depletion drop-down should be Yes • Select appropriate NQM Credit Grade (A, B, B-, C) for the Achiever (Expanded Credit) and Visionary (Investment) products. Use A for A- grade. • Select Yes from the Interest Only drop-down menu to view the Interest Only option for each product. Select No to view the standard Fixed and ARM options. • It’s not necessary to change the Automated UW System field. All Non-QM loans are manually underwritten. The drop-down menu does not impact pricing eligibility. Note: FICO and DTI are required to obtain accurate pricing. If you need to make changes, please go back to the Loan Details and update the 1003 form. Review the information and click Submit. The product and pricing search results display. September 2021 Page 24 of 33 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.
BOOST User Guide Wholesale Portal Select the name of the product or click Show in the detail column to view the details of an eligible product. Select the Blue Lock icon to select the product for this loan. The Lock Form appears. Enter your email address in the Broker 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. September 2021 Page 25 of 33 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.
BOOST User Guide Wholesale Portal Review the loan level pricing information at the bottom of the screen and make the appropriate selection to float the loan or request the lock. • Select Update Encompass to save the details and float the loan • Select Request Lock to submit a lock request for this program. To Print the Lock Confirmation: Once the loan is locked, the product and pricing information displays on the Loan Summary screen. You can view the lock history and print the lock confirmation. Select Product Pricing & Lock from the menu on the left-hand side. Select the Print icon ( ) to print the page details. NOTE: You can also print the lock history by clicking View Lock History, then select the print icon from the pop-up window. September 2021 Page 26 of 33 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.
BOOST User Guide Wholesale Portal Documents FGMC requires brokers to upload their initial submission documents into the portal before submitting the loan for review. These documents should include FGMC’s Wholesale Submission Form and any supporting documentation. You can upload these documents on the Documents page. To Upload Initial Submission Documents: Select Documents from the menu on the left side. Drag and drop your documents into the “initial submission documents” place holder or click Browse for files to attach a file to the document entry. FGMC will be able to view the documents once the loan is submitted. 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 BOOST to avoid delays with your loan file. To download a document: Click the Expand Icon ( ) to expand the document entry. Click the Download Icon ( ). September 2021 Page 27 of 33 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.
BOOST User Guide Wholesale Portal Submit the Loan Use the Submit Loan 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 Loan 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 the Loan to FGMC: Click Submit Loan from the Loan Action menu. Click Continue in the confirmation window. Note: If there are missing required fields or the Broker Package is not uploaded, you will be required to enter the information before submitting the loan. September 2021 Page 28 of 33 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.
BOOST User Guide Wholesale Portal Section 3 Post Submission September 2021 Page 29 of 33 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.
BOOST User Guide Wholesale Portal 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 BOOST system: notifying FGMC of a change of circumstance, viewing and uploading conditions, review fees and disclosure tracking information. Conditions Once the loan has been submitted and reviewed by FGMC, you can view the underwriting conditions that have been added on the 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 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. September 2021 Page 30 of 33 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.
BOOST User Guide Wholesale Portal Extending a Lock All lock extension requests are submitted through the BOOST portal. If you are unable to lock the request through the portal or the loan was initially locked manually, please submit your lock request to wslocks@fgmc.com. Please review FGMC’s Wholesale Lock Policy for more information. To submit a lock extension: Select Product Pricing and Lock from the menu on the left-hand side. Click Change Request. The Optimal Blue Change request screen appears. Note: Changes cannot be made to this screen once the loan is locked. Select the Change Request ( ) icon to submit your request. Make the appropriate selections. • Ensure the Lock Extension radio button is selected. • Ensure the correct lien position appears. • Enter the number of days for the lock extension. The price adjusts accordingly. Select calculate cost to view the final pricing information. The pricing adjustments appear. Click apply change. The pricing differentiations appear. September 2021 Page 31 of 33 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.
BOOST User Guide Wholesale Portal Confirm the pricing adjustments and select apply changes to submit the Lock Extension Request. Note: The request shows as pending. You will receive a confirmation email once the request is approved. Change of Circumstance After submitting the loan, you may need to change loan information. When certain loan information changes, such as the loan type or loan program, a new disclosure is required. Use the Change of Circumstance action to re-submit the updated loan to the underwriter. To Re-Submit the Loan Due to a Changed Circumstance: Click the Change of Circumstances link from the Loan Actions menu. Select a description of the circumstance from the Changed Circumstance drop-down list. Ensure that all the required* information has been entered and then select the Request Change button. September 2021 Page 32 of 33 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.
BOOST User Guide Wholesale Portal Reviewing Fees When fees are added to the loan file, and the loan is clear to close, the fees on the loan’s 2015 Itemization form in Encompass will be available on the loan’s CD Fee Management page. This page is an inquiry only page. To Review Fees: Click CD Fee Management from the menu on the left-hand side. To sort the fees, click a column header. • Click the Export to Excel ( ) icon to export the current list of fees to an Excel spreadsheet. • Click the Print ( ) icon to print the current list of fees. Disclosure Tracking The Disclosure Tracking screen allows you to view important tracking information for disclosures. Select the Disclosure Tracking link to view Compliance Timelines, LE Tracking, CD Tracking, eConsent Tracking, eSigned Tracking, and other tracking information. September 2021 Page 33 of 33 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.
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