Registering a Loan

Automated Underwriting

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Requested Condition

Register/Float/Lock a Loan1. Login to www.franklinamerican.com

2. Click Register or Lock a Loan>>Register a New Loan or Price or Lock a New Loan.

3. Follow screen prompts and enter all required data.

4. Click View Pricing Options.

NOTE: EMB is responsible for providing the borrower with a Loan Estimate no later than 3 business days after receiving an application.

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Appraisal Ordering

EMB Loan Process Guide For Credit Unions with Appraisal Management

Automated Underwriting

For Q.AUS For Desktop Originator (DO) For Loan Prospector (LPA)• Click Launch Q.AUS

From PipelineClick Launch Desktop Originator

Click Loan Product Advisor

• Find applicable loan and click Order AUS

or click Loan Status >>View Pipeline for access to Q.AUS. Find the applicable loan, then click Order AUS.

NOTE: Loans must be registered or locked before using Q.AUS. For DO/LPA direct, select Franklin American/DO/Wholesale Lender.

NOTE: Findings must be finalized and released to FAMC prior to submission.

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Appraisal Ordering• It will be the responsibility of the Emerging Mortgage Banker (EMB) or their appraisal

management vendor to obtain the Submission Summary Report (SSR) from both GSEs and provide them at the time of appraisal delivery

NOTE: Franklin American Mortgage Company (FAMC) will not purchase any loans that do not include Submission Summary Reports (SSRs) from both Fannie and Freddie reflecting a “Successful” status or are unacceptable to FAMC.

• FAMC requires Uniform Collateral Data Portal® (UCDP®) appraisal-sharing for appraisals by EMBs who manage their appraisal procurement.

Completed appraisals are submitted to FAMC on our website via Q.image (refer to Step 4):

1. Click Loan Status>>View Pipeline.

2. Click the desired loan number or borrower name.

3. Scroll to bottom of the Loan Status screen. In the Loan Submission section, click Choose File.

4. Select the appraisal in either .PDF or .TIF format to be uploaded, then click Open>>Upload.

The Completed Appraisal Must be Accompanied by:

• A copy of the appraiser’s current license.

• Proof of payment to the appraiser, including the source of payment.

• A Certificate of Compliance either from the EMB lender or the FAMC Borrower Appraisal Disclosure.

• Evidence of the date appraisal(s) were delivered to the borrower(s) and method of delivery.

Loan/Conditions SubmissionLoan Submission 1. Click Loan Status>>View Pipeline.

2. Click the applicable Loan Number or Borrower Name.

3. Upload all required documents listed on the FAMC Submission Forms (available on our website under Forms).

4. Click Choose File to upload the required documentation.

5. Click Upload. To view uploads, return to the loan’s specific Loan Status screen and click the View Upload History button.

Conditions Submission1. Scroll to the bottom of the Loan Status screen to upload condition(s) to Q.image.

2. Select which condition(s) are being uploaded in the PTD or PTF sections, or click This is not a requested condition at the bottom of the page.

3. Click Select File in the Upload Condition(s) field.

4. Select the .PDF or .TIF file loan documents to be uploaded, click Open>>Upload.

• Confirmation of loan submission will be sent by e-mail. File status is available on our website.

5. To view uploaded loans or conditions click Loan Status>>View Pipeline. Click the image icon next to the loan number to view images. Loans or conditions may be viewed only after they have been successfully uploaded and indexed.

NOTE: Q.image training materials are available on our website under Resources>>Training Materials. All loans must be uploaded to our website via Q.image.

Please use Microsoft Edge or Internet Explorer to view our website.

Q.docs

Texas Operations Center: 5221 North O’Connor Blvd.Suite 900 Irving, TX 75039 Phone: 877-496-1900

www.franklinamerican.com

Equal Housing Lender; Franklin American Mortgage Company, 6100 Tower Circle, Suite 600, Franklin, TN 37067. Company NMLS #1599. For mortgage banking professionals only; not authorized for distribution to consumers or third-parties. All info herein is current as of 03/10/17 and subject to change without notice. WHL_TPL_181V5 MKT-16929

Corporate Headquarters:6100 Tower Circle Suite 600 Franklin, TN 37067 Phone: 800-295-1020

Pennsylvania Operations Center: 681 Andersen Dr. Suite 620Pittsburgh, PA 15220 Phone: 412-587-5454

Massachusetts Operations Center:35 Village Rd. Suite 201 Middleton, MA 01949 Phone: 978-539-6160

California Operations Center: 1401 Willow Pass Rd.Suite 400Concord, CA 94520 Phone: 925-566-7400

Closing/Funding – Ordering Closing Documents through Q.docs 1. Click Closing and enter the loan number into the “Lookup FAMC Loan

Number” field then click the Q.docs button or click List all Available Loans and click the Q.docs link on the next screen.

2. Upload Required Closing Documents (RCDs) in the Process section of Q.docs (available if loan status is Registered or Locked, and Underwriter Received):

• Upload documents, including the Preliminary CD from the settlement agent, using the drag and drop feature or click Select Files to choose files then click Upload. Click Save once the upload confirmation appears.

• To view previously uploaded RCDs, click the applicable RCD file name link. View unindexed RCDs in Q.image>>Closing Docs>>RCD Required Closing Document.

NOTE: Data can be entered and saved into Q.docs at any time after the loan status shows Locked and Underwriting Received. FAMC Closing will not review and index RCDs until Q.docs have been ordered, Process has been clicked, and the loan is within 7 days of closing.3. To order Q.docs, follow prompts to enter data and complete all screens, then click Process.

NOTE: Q.docs cannot process data until 10 days prior to the closing date. Even if Q.docs is processed 10 days prior to the closing date, FAMC will not review and assign to a closer until 7 days prior to closing.

4. Select which condition(s) are being uploaded in the PTD or PTF sections, or click This is not a requested condition at the bottom of the page.

5. Print a summary page.

6. The Final CD can be sent to the borrower(s) for acknowledgement as early as 4 business days prior to the closing date if: all RCDs and conditions are received, appraisal is received and estimated value is supported, the loan amount is finalized, and the rate is locked through the funding date.

7. The Closing Package is released to the settlement agent within 5 hours once the loan has been issued a Clear-to-Close and the Final CD has been acknowledged by the borrower(s).

Ordering Closing Documents Through an FAMC Approved Third Party Vendor:1. Choose “Franklin American Mortgage Company EMB” as the investor from drop-down menu in the vendor software,

then follow prompts.

2. The EMB is responsible for providing CD delivery documentation as published in our policy.

NOTE: It is highly recommended that you receive final underwriting approval prior to closing your loan. Closing your loan prior to final underwriting approval may result in a purchasing delay or purchase ineligibility.

PRIOR TO FUNDING: EMB or its fulfillment center reviews all closing documents, security instruments, prior to funding conditions, and Final CD for accuracy, consistency, and compliance; then authorizes the settlement agent to disburse funds.

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EMB Purchase Advice

Pre-Purchase Review/PurchaseEMB reviews documents for accuracy, consistency, and compliance; then endorses the Note or provides the Note Allonge.

• Complete file submitted to FAMC using the EMB Closed Loan Submission Form.

• FAMC reviews the package and either issues a suspense of items to purchase the loan, or purchases the loan within 48 hours after receiving the latter of the closed loan or collateral package.

• Once approved, FAMC wires funds to the EMB’s warehouse bank and sends the EMB a Purchase Advice.

NOTE: All closed loans must be delivered to FAMC in purchasable condition prior to the lock expiration. If the lock has expired prior to delivery, worse case pricing will apply. If the lock expires after delivery, FAMC will grant a 2 business day grace period prior to charging any cure fees at 2 bps per day.

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