Qdocs Quick Reference Guide

Revised – 6/29/11

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completed

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Closing Department

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fields

Internet Explorer is the only supported browser with Qdocs

General Qdocs Information

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Underwriter, U/W Specialist or Pre-Review Coordinator

Step 1: Enter Note Date (Closing Date).First Payment Date, Last Payment Date and Disbursement Date will automatically populate based off the Note Date.

Step 2: Verify Disbursement Date is correct.If Disbursement Date is between the 1st and 5th

of a calendar month, the Interest Credit/Short Pay drop down will activate. Select if borrower elects to do Interest Credit/Short Pay.

Enter Note Date & Disbursement Date

If you need to change the Note Date before ordering docs, REMOVE the Disbursement Date to

activate and change the Note Date.

Step 3: Enter any notes to the Closer.

Step 4: Input Broker Contact Email.Enter Notes to Closer

General Information Page

Input Broker Email

Step 5: Enter Tax Parcel #.Also referred to as the Tax ID#. It is located on the appraisal, title commitment and/or tax certification.

Step 6: Enter the Legal Description.Legal Description is located on schedule “A” of the title commitment. Please do not use the legal description on the appraisal, as it is an abbreviated version. **May vary in CA on Title Opinion

Selectif the Legal Description is over 7 lines.

Enter Tax Parcel #

Enter Legal Description

Property Details Page

Step 7: Verify, Add and Delete AKAs for each borrower.AKAs may be found on credit reports, bank statements, legal documentation or previously married names.

Step 8: Select Vesting for borrower.Vesting is at the borrower level. If vesting should appear after the second borrower, click on the second borrower and then select the appropriate Vesting option.

Step 9: Select if borrower has a Power of Attorney, Domestic Partner or is a Trust.

Step 10: Designate if there is a Non-Purchasing Spouse. Use this check box if:• There’s only one borrower but their spouse is

not considered a co-borrower and is currently on title.

• The property is located in a community property state and is an owner-occupied home.

Verify, add and delete AKAs

Select Vesting for this borrower

Borrower & Seller Page

Only one borrower’s information appears at a time. Click on a borrower’s last name to activate

that borrower.

Designate if there is a Non-Purchasing Spouse

Identify the Sellers

Generate Vesting for the borrowers

Borrower & Seller Page

Verify Payment Letter Address

Step 11: Verify the Payment Letter Address.This is where the trailing documents will be sent. Defaults to subject property address.

Step 12: Click .This will take the vesting selections made for each borrower and combine them into Final Vesting to Appear As. This is a free form text field and can be edited. The vesting should read exactly as it does on the title commitment.

Step 13: Identify the Sellers.Seller’s name should be listed exactly as it appears on the title commitment.• Add more sellers by selecting how many

sellers need to be added from the Add Sellers drop down and click Add.

• Identify if the sellers are an Individual, Corporation or Estate

Step 14: Input the Zip Code of Title Company.Zip code is located on the wiring instructions or settlement agent’s fax cover sheet.

Step 15: Select Title Company from drop down.If Title Company not listed, click the Add New button and input the requested information.

Step 16: Input the following fields:• Contact• Title Co Email Address – contact email at

the title company• Email Address for Docs – email for the docs

at the title company• GF Commitment/Order # - located on the

top corner of the title commitment• Title Effective Date

Input all fields

Select Title Company from drop down

Settlement Agent & Insurance

Input Zip Code for Title Company

Step 17: Input the Insurance information.At a minimum, the Dwelling Coverage Amount must cover the loan amount (appraised value minus the site value or total estimated cost new according to appraisal).

If the policy contains a dwelling replacement cost, please select Dwelling Replacement Cost and enter the percentage.

Due date for the Hazard Insurance is the expiration date of the current policy or one year from the funding date on purchases. Refinance transactions must have a minimum of 90 days remaining on the current policy from the closing date.

If loan is in a flood zone, the flood insurance coverage must be the loan amount or estimated cost new.

Wind/Hail section only applies to states that require a separate wind/hail policy.

Settlement Agent & Insurance

Input Insurance information

Type of Insurance that appears is based on the type of loan. For instance, Flood Insurance will only appear for a

loan is in a flood zone. HOA-Blanket Policy and HO-6 Policy will only appear for attached condos and PUDs.

Step 18: Input the Annual Tax Amount, Disbursement Type and Due Dates.County and City tax amounts are located on the tax certificates or the title commitment.

Disbursement Type will display the appropriate number of due dates - two due date boxes if semi-annual is selected and four due date boxes if quarterly is selected.

You can add additional taxes by using the Add Escrow Tax section.

Step 19: Click . .System calculates the aggregate based on the information that has been entered.Calculate Aggregate

Select Disbursement Type and Input Due Dates

Escrow Account

Input the Annual Tax Amount

If Escrows Waived during lock, a drop down menu will appear asking which escrows are waived:

None, All, Insurance or Tax

Add additional taxes

Step 20: Input the Fees.Additional fees can be added using the drop down at the bottom of each section.

Column Headers• Paid To: Identifies who the fee is being paid to:

Broker, FAMC or Other. If Other is selected, a text field will appear. Type in the name of Third Party to receive the funds.

• Borrower: Identifies the fee is being paid by the borrower at closing. Enter the amount of the fee in this column.

• Seller: Identifies the fee is being paid by the seller at closing. This column is read-only.

• POC: Fee was Paid Outside of Closing. Enter the amount into the POC column.

• Paid By: Only applies to fees paid outside of closing (POC). Identifies who paid the fee.

• GFE #: Identifies the appropriate GFE box for this fee.

Fees calculate into this GFE box

Fees

Add Additional Fees

The fees page will change depending on the compensation plan selected. The goal is to help the

loan stay in compliance.

Red line item numbers indicate fees that are included in the

VA 1% cap calculation.

Step 21: Check to see if loan is in compliance.System compares the most recently disclosed GFE to the fees entered in Qdocs. The difference column displays if the loan is in RESPA compliance or not.Hover mouse or click on Compliance

Alert to see how to cure

Hover mouse to get itemized breakout of fees

Compliance

10% tolerance boxes are designated in the bracket. If the field to the far right

is green, the 10% tolerance has not been exceeded and is in compliance

- Out of Compliance…difference exceeds the 0% or 10% tolerance

- Warning…amount does not exceed 10% tolerance but adding more fees could cause it to exceed the tolerance

- Acceptable

If a box is out of tolerance:• Hover your mouse over the Compliance Alert link to

see how to cure.• Click on the Compliance Alert link. This takes you back

to the Fees page and displays the message of how to cure the issue at the top of the fees page.

The broker cannot give a borrower credit to cure a tolerance issue under the

Lender Paid Compensation Plan.

Compliance check does not include:• High Cost Home Loans testing• Fees shopped for by the borrower

Step 22: Click to Order Docs.Once the task counter equals zero and the status is U/W-APPROVED, the Process button becomes available. After clicking Process, the loan is viewable and read-only.

Step 23: Click .Attach Qdocs Summary page to email with the RCDs going to the Closing Department.

If loan is out of tolerance, the following message will appear:

Click Process button to order docs

Click Print Qdocs Summary to open the Qdocs Summary page

Process

Turn Times

• When Qdocs request and Pre-draws are received prior to 12:30pm, documents will be completed that day.

• Turn time is “5 BUSINESS hours;” however, the clock does not start until Qdocs are processed and all RCDs are received and approved by FAMC.

• If Qdocs received after 12:30pm, the 5 business hour rule still applies, however, this may result in docs being sent the following business day depending on how late in the day they were ordered.

• Due to the delay of HUD-1 preparation and loan amount revision prior to releasing closing documents, please allow 10 hours closing time on VA IRRRL loans.

Hours of Operation8:30am – 5:30pm (CST)

QuestionsIf you have any questions, please contact your Account Executive.