Homeownership Programs Commitment System Guide Process

After you have logged in, you can upload an URLA. Uploading the URLA will populate most fields in the Commitment System. NOTE: You must import a .xml file that is version 3.4 or higher. 

• At the top right corner of the screen, select the folded Paper and chose the Import Loan – iLad MISMO 3.4
• Drop the .xml file into the Drag and Drop field to Import. Or search for the .xml file by selecting the blue Browse for file button
• From the Channel dropdown menu, select the Homeownership Channel and select Import 

View the Enter and Lock a Loan Demo video (Run time 09:49)

Client Selection Screen

After you have logged in, at the top right corner of the screen, select the folded Paper and choose Create New Loan. This will bring you to the New Loan screen

New Loan Screen

• Use the channel drop-down menu to select Homeownership
• Select Loan Officer associated with the new loan from the Loan Officer drop-down menu
• Lender Loan Number – not a required field

Select Next in the top right corner of the screen

Enter data into the Loan Information – Homeownership – New Loan

Loan information – Homeownership – New Loan screen will include:

• Borrower information and Co-Borrower information
•  If the Borrower is a Safe at Home (SAH) participant:
  • Check the SAH box
  • Enter the participant’s Lot Number.
• Mortgage information – Mortgagors and relationship to each other
• Borrower income – For further information regarding calculating the annual Minnesota Housing Program Eligibility Income, select the box labeled: Link to Start Up Eligibility Income Worksheet
• Household Information
• Subject property information
• First mortgage loan information
• Downpayment assistance loan information

Select Next in the top right corner of the screen

Borrower Demographic

Enter all fields that apply for all Borrowers:

• Ethnicity
• Race
• Sex

Select Next in the top right corner of the screen

Create New Loan

Select Create New Loan 

• The loan will have a commitment number
• It will update to Current Loan: Borrower Name | Registered | New

View the Enter and Lock a Loan Demo video (Run time 09:49 – lock a loan starts at 06:10)

Pricing Wizard

 Follow these steps when you are ready to lock a loan. Open the loan file and in the Loan Information – Homeownership screen, select the link to Products and Pricing to open the wizard.

• Review each screen for data accuracy.
  • Select Next or Back to move through the screens
  • Or select the appropriate screen name to move around
• Make sure the Loan Officer is selected
  • Lender loan number is not required

Product Parameters

• In the Product Eligibility screen, update the lock period to 60 days
• Select Get Eligible Products

Product Eligibility

Review the Product Eligibility for the applicable Valid Products

• Select the carat icon to the left of Product Eligibility: Valid to show the valid products
• Under Actions select the checkmark located on the far right
• NOTE: For Product Eligibility Invalid, follow the instructions below in the Correcting Errors section
• The product line will highlight, select Next at the bottom right of the screen

Pricing Screen

• In the Pricing screen select the desired SRP
• Once the SRP box is highlighted, select Next at the bottom right of the screen

Rate Lock

View the how to Complete the Lock Action video (Run time 00:40)

• Scroll to the Proposed Lock Details section and select Lock Action
• The Lock Action screen will open, use the drop-down menu in the New Lock Action section, select Lock
• Select the OK button at the bottom right of the screen
• You will be brought to the Rate Lock screen and the Lock Status field will show Locked
• Select Save and Exit at the bottom right of the screen.

 
You will be brought back to the Loan Information-Homeownership screen.

The loan will update to Current Loan: Borrower Name | Registered | Locked

View the how to Correct Errors on a Loan video (Run time 01:05)

Product Eligibility: Invalid

If you receive Product Eligibility: Invalid, select the carat on the left of Product Eligibility: Invalid to see the invalid products. 

Locate the product you wish to lock the loan as, select the ellipses on the far right to expand the list of errors

• Review the errors and make corrections
  • Select Next or Back to move through the screens
  • Or select the appropriate screen name to move around
• Return to Product Eligibility and make sure the 60 days lock Period is selected
• Select Get Eligible Products
• Repeat this process until all errors are cleared and it shows Product Eligibility: Valid

If you continue to experience errors, reach out for assistance to PST by phone 651.296.8215 or by email mnhousing.solution@state.mn.us

View the how to Generate Documents video (Run Time 00:46)

Once a loan is locked or ready to close you can generate documents needed for the loan. For a comprehensive list of the documents needed for each loan type, refer to the File Delivery Checklist on page 5 of the Forms and Guide Glossary.

Open the loan file and in the top right corner of the screen, select Paper Clip and choose Order Documents.

Order Documents

• Select Order Package
• When the Order Package screen appears, in the Additional Options section, select Internal in the Document Type section

Internal Documents

•  Select the document(s) you need by selecting the checkbox to the left of the document name – scroll down to see all applicable documents
•  Once documents have been selected select Order at the bottom right of the screen
•  NOTE: If no documents appear, that means there is an issue with the commitment – follow the instructions below in Correcting Loan Issues

Print Documents

You will be brought back to the Order Documents screen and the package name will appear 

• The document(s) will be a part of the hyperlink under Package Name
• Select Refresh (arrows chasing each other) until you see the package status shows “Complete”
• Once the status is Complete, select the Package Name (hyperlink) to open, view, and print the documents 

Open the loan file and double-click on the vertical ellipses on the middle left side of screen to expand the Workflow Menu and navigate to the Products and Pricing Validation screen. 

• Review and correct validation errors
• Select Save in the upper right corner after each correction
• Start the process to order the documents
• Repeat this process until there are documents available to select

If you continue to experience errors, reach out for assistance to PST by phone 651.296.8215 or by email mnhousing.solution@state.mn.us 

View the Make Changes and Re-lock a Loan Demo video (Run time 02:06)

This section explains how to change loan pricing when a loan is in a locked status.

NOTE: Examples of when a change pricing is required can be found in the loan file. 

• Open the loan file and in Loan Information - Homeownership screen, select the Link to Products and Pricing Change Guidance to see a list of examples.

Change Pricing

Open the loan file and in the Loan Information – Homeownership screen, select the Change Pricing box and then select Save in the top right corner.

• This will change the loan from a Locked status into a New Status: Current Loan: Borrower Name | Registered | New
• Grid Line Error notification(s) will show, this can be closed to keep proceeding forward

Products and Pricing Wizard

Select Products and Pricing link to open the Products and Pricing Wizard

• Make the applicable change to the loan in the Products and Pricing Wizard
• Once your changes have been made, go to the Product Eligibility screen, update the lock period to 60 days
• Select Get Eligible Products

Product Eligibility

• Review the eligibility results, correct any errors if needed, see Correcting Errors section 
• Select the carat icon to the left of Product Eligibility: Valid to show the valid products
• Under Actions, select the checkmark located on the far right
• Once the eligible product is highlighted, select Next at the bottom right of the screen

Pricing Screen

• In the Pricing Screen, verify that the Pricing Date and APOR Int Rate Set Date (original lock date) match, NOTE: both time and date must match
• To update the Pricing Date field, select the calendar icon located on the right of the Pricing Date field
• Select the correct date and update the time, select OK at the bottom right of the page
• The interest rates from the original lock date will appear, select the SRP of the interest rate you want
• Once the SRP box is highlighted, select Next at the bottom right of the screen

Rate Lock

• In the Rate Lock screen, select Lock Action
• The Lock Action screen will open, use the drop-down menu in the New Lock Action section, select Lock then select OK at the bottom right of the screen
• You will be brought to the Rate Lock screen and the Lock Status field will show Locked
• Select Save and Exit at the bottom right of the screen

You will be brought back to the Loan Information-Homeownership screen.

• The loan will update to Current Loan: Borrower Name | Registered | Locked 

View the how to Cancel a Loan video (Run time 00:34)

This section explains how to cancel a loan. NOTE: Once a loan is cancelled, no additional changes can be made.

Open the loan file and double-click on the vertical ellipses on the middle left side of the screen to expand the Workflow Menu and navigate to the Dates screen

• Select the Cancel Loan box
• Select Loan Cancellation Reason from the drop-down menu
• Select Save in the upper right corner to save changes, the Cancel Date information will populate and the loan status will change from Registered to Cancelled

The loan will update to Current Loan: Borrower Name | Cancelled | Locked 

View the how to Extend a Rate Lock video (Run time 00:40)

This section explains how to extend a rate lock. 

Open the loan file and select Link to Products and Pricing. 

• Select Rate Lock in the left side menu
• Scroll to Current Lock Details and select Lock Action 

Extend Lock

•  The Lock Action screen will open, use the drop-down menu in the New Lock Action section, select Extend Lock
•  Select OK at the bottom right of the screen
•  In the Current Lock Details column use the Days drop-down menu and select the number of days you need: Options are 15 or 30 days
•  The Lock Expiration Date field will populate the new lock expiration date
  •  The Total Days Extended field will show the number of days the lock is extended
•  Select Save and Exit at the bottom right of the screen
•  You will then be brought back to the Loan Information – Homeownership screen, and the lock status will update from Locked to Lock Extended

The loan will update to Current Loan: Borrower Name | Registered | Lock Extended

This section explains how to add more than two borrowers to a loan file.

Open the loan file and in the Loan Information – Homeownership screen, scroll down to Additional Parties section

• Select the box for Are there more than two borrowers?
• Select Save in the upper right corner of the screen and Borrower Management section will appear

In the Borrower Management section

• Make sure the icon that is 4 horizontal lines in a row is selected.
• Select the drop-down menu to the left of the 4 horizontal lines icon, select the (Blank) Borrower or (Blank) Co-Borrower profile and enter their information
• NOTE: If the loan is already locked, after adding the additional Borrower(s), you will need to call PST at 651.296.8215 and request the social security number be entered
• Select Save in the upper right corner of the screen to save changes before exiting the loan. 

This section explains how to switch Borrowers from Borrower 1 to Borrower 2 or vice versa

Open the loan file and in the top right of the screen, select the vertical ellipses and in Loan Management section, select Application Management

In the Application Management screen

• In the URLA Application section, select the swishy X that is on the left 
• A Confirm Changes screen will open, select Save Changes to continue

You will be brought back to the Loan Information – Homeownership screen

• Select Save in the upper right corner of the screen to save changes before exiting the loan

This section explains how to remove a Borrower.

Open the loan file and in the top right of the screen, select the vertical ellipses and in Loan Management section select Application Management

In the Application Management section

• In the URLA Application section select the X next to Borrower you want removed
• The Delete screen will open, select Delete at the bottom right of the Delete screen

You will be brought back to the Loan Information – Homeownership screen

• Select Save in the upper right corner of the screen to save changes before exiting the loan

This section explains how to remove an application. 

Open the loan file and in the top right of the screen select the vertical ellipses and in Loan Management section select Application Management

In the Application Management screen

• Select the X icon to the right of the URLA Application you wish to remove
• The Delete screen will open, select Delete at the bottom right of the Delete screen

You will be brought back to the Loan Information – Homeownership screen

• Select Save in the upper right corner of the screen to save changes before exiting the loan

This section explains how to add cosigner(s)

In the Loan Information – Homeownership screen, scroll down to the Additional Parties section and check the box for Are there Cosigners?

• Once the box is selected, scroll further down the page to the Cosigners section
• Complete the information needed for co-signers
• Select Save in the upper right corner of the screen to save changes before exiting the loan

View the how to Complete the Doc Prep Screen video (Run time 01:10)

NOTE: This page is typically completed by someone in your closing department. All the information on this screen needs to be completed before generating the closing documents.

Review Loan File

Verify all information is correct in the Loan Information – Homeownership screen. Make updates accordingly. 

Document Preparation

Open the loan file and double-click on the vertical ellipses on the middle left side of screen to expand the Workflow Menu and navigate to the Documentation Preparation screen.

• Complete the information in the Final Confirmations and Mortgage Information sections
  • After entering the dates, select Save in the upper right corner and the Maturity Date will autofill
• NOTE: Interest Credit Closings are allowed, but be sure the first payment date is adjusted so the Maturity Date populates correctly
• View the how to Set Up an Interest Credit Closing video (Run time 00:55)
• Once all data fields are verified and updated as applicable, select Save in the upper right corner of the screen

Print Final Closing Documents

Select Order Package to start the process of ordering the documents needed for closing. Review the Printing and Generating Documents instructions. 

If applicable, complete this step before generating the closing documents. This ensures the Borrower/Mortgagors are listed on the first page of the downpayment and closing cost subordinate mortgage. Only enter names in the Additional Mortgagors section if you have individuals who will sign the mortgage and need to be listed on the signature block of the mortgage.

• In the Document Preparation – Homeownership page, scroll down to the Additional Parties section
• Select the check box for Are there additional Mortgagors
• The Additional Mortgagors section will then appear
• Enter the first and last names of each additional Mortgagor and how they will vest into title
• Once all data fields are verified and updated as applicable, select Save in the upper right corner of the screen

View the how to Complete the True and Certify video (Run time 00:39)

Before completing the True & Certify process, review all the data fields in the Loan Information – Homeownership screen for accuracy and update/correct the data where necessary. 

• Best practice is to have the closed loan file in front of you to verify all information entered in system matches the closed loan file.

Complete the True & Certify screen after the loan has closed. Once this process has been completed, you can no longer make any updates. You must verify all information is accurate before completing the True & Certify process.

Program eligibility income and monthly qualifying income are pre-populated from what was entered in the system earlier. Verify both incomes are correct and update if needed.

• If the Minnesota Housing Workflow menu on the left side of the page is not automatically opened when you go into the loan file, double-click the vertical ellipsis of the middle left side of the screen to expand and navigate to the True and Certify screen
• Select the Approve check box then select the save icon at the top right of the screen
• Once the loan has been saved, the True & Certify Date field and the True & Certify User field will automatically fill in
• You will see the loan status in the top left corner of the screen change to Borrower Name | Lender Certified | Locked

Closed Loan File

After completing the True & Certify, you must upload a closed loan file within 48 hours of certifying the loan. This can be done by selecting Add Attachments. Refer to the Uploading a Closed Loan File section below for instructions

Follow this process to attach documents to the commitment

Add Attachments

Open the loan file and select Paper clip located at the top right corner of the screen and choose Attachments

• The Add Attachments screen will open. 
• There are two options for Adding Attachments:
  • Drag and drop documents into Drag & Drop Attachments Here
  • Upload files by selecting Browse for Files

Attachment Category

Once the closed loan package is shown in the File Name box, use the Attachment Category drop-down menu and select the appropriate Attachment Category: 

• Closed Loan File - This is used for the closed loan file and must be uploaded 48 hours of certifying the loan
• Trailing Documents - This is used for all trailing documents such as the recorded Mortgage and Assignment
• Condition Clearing Document - This is used when uploading documents to clear conditions on your MN Housing Quality Control audit 

You can add a comment in the comment section if you would like to. Select Upload Attachments at the bottom right corner of the Add Attachments screen