Closing Document Order

Closing Document Order2018-09-11T21:27:42+00:00

On-Line Closing Doc Order Form Now Available

We’re still innovating!!

Look how simple Direct Mortgage has made it to receive priority underwriting and closing docs!! 

Simply follow these three easy steps:

    1. Attach your Appraisal and Underwriting Submission Package.
    2. Select your vendors: appraiser, title, escrow, and hazard insurance.
    3. Update and approve the HUD-1 settlement statement.
      • Your title company will be given a heads-up email notification.

That’s it!

Getting Started

There are two ways to order docs online – either through the Submission Ready Wizard or through the link on the left-side menu of Loan Choices™ that says “Closing Doc Order Form ”.

When you create or open a loan, you’ll be asked if you would like to complete the Submission Ready Wizard. Click “Yes”. The wizard is divided into two sections: AUS Submission (gray/blue color) and the Closing Doc Order Form (green).  You can follow the Wizard through from the beginning to the end, or you can go directly to the Closing Doc Order Form section by clicking on the red “X” under  one of its sub-sections (“Attachments”, “Vendors”, or “Closing Fees”).

Here are explanations of each Closing Doc Order Form sub-section:

1. Attachments

  1. Click the “Browse” button
  2. Find and select your documents.
  3. Click the “Attach” button.  If you attach an incorrect file, you can click the red delete button.  You’ll be asked to confirm that you want to remove the attachment.  Say “Ok”.  You can now repeat steps 1 and 2.
  4. Click “Next”, located in the lower right-hand corner of the window.

There is a “Stacking Order Template” link on the Attachments screen that will open up a list of documents that should be submitted as well as show their proper stacking order.

We prefer that you upload documents directly into our system.  If you fax your documents instead, you will need to confirm that our system received your fax by clicking on the “View Scanned Images” link on the left-hand side menu, and then label the documents that you faxed.  To label the documents, use the drop down menu under the “Doc Type” column to identify your fax(es).  (If you fax documents, remember to fax the “4506-T” and “Appraisal Report” separately from the main “UW Loan Submission Package”.)

2. Vendors

Here you can choose your vendors or ask Direct Mortgage to order services for you.

  1. Click the dropdown arrow next to each vendor category (e.g., “Title”) and select your desired option.
  2. If you select “Order Appraisal for me” then you’ll also need to select whether the appraisal fee is paid by the borrower or broker, or paid outside of closing.
  3. If you select “Find the Vendor” (e.g, “Find the Appraiser”, “Find the Title Agent”, etc.), then the Vendor Search screen will open. Enter the information you know and click “Find Vendor”.  If at first you don’t find the vendor, try entering less information.  For example, instead of searching for “Farmers Insurance Agency”, search for “Farmer”.  You might also try searching by a person’s name instead of by the company name.
  4. When you find the vendor you want, click on the vendor’s name and then on the desired agent and the information will automatically be brought into the doc order form.
  5. If you do not find your vendor, click the “Close” button located in right-hand corner of the search screen.  You should now be back to the Vendor section of the Closing Doc Order.  Select “Key in new vendor details” from the drop down arrow.
  6. If you select “Key in new vendor details”, new fields will appear on the screen. (If you previously searched for a vendor, the new fields will have appeared already.) Enter the requested information into these blank fields.
  7. You can also select a vendor that appears in the dropdown list.  This list of favorites can be set up by you ahead of time.
  8. In the “Contact Information for Entry” fields enter the contact information for the person who should be contacted to coordinate the appraisal.  This could be the borrower, the real estate agent, etc.
  9. When you have entered the information for each of the vendors (appraiser, title, escrow, hazard insurance), click “Commit Vendor Selection to Loan”. If you are entering or selecting information for only some of the vendors, select “Save”.
  10. All new vendors will have to be approved by Direct Mortgage.

Notes: Every Appraiser, Title Company, Escrow Company, Insurance Company, and any other vendor associated with a loan being submitted to Direct Mortgage MUST BE APPROVED PRIOR TO DOCS! There are thousands of vendors already in the system and your vendor may already be there. You can search for a vendor after you have submitted a loan, but we recommend that you search for vendors ahead of time and request approval for any that may not yet be included in our approved list.

3. Closing Fees

This screen is the HUD-1.  Some fees have been automatically populated

  1. Review the HUD-1 Settlement statement for accuracy and completeness.
  2. Make any necessary changes.
  3. Click the “Approve Closing Fees” button.
  4. A message will open asking you to confirm that you have reviewed and agree to all fees.
  5. Click “OK”.
  6. You will be told that your file qualifies for priority underwriting. You can choose to either proceed to underwriting submission or remain in the current wizard.

Notes: Verifying and approving fees can reduce errors and increase the speed of delivering your loan documents.  Here are some simple rules to go by:

  1. Each fee should have a payee assigned to it.
  2. Select the Requested Signing Date at the bottom of the form.
  3. Requested Signing Date cannot go beyond the lock expiration date.

Confirmation Email

Your Closing Docs are now Ordered!

Both you and the title company will receive a confirmation email that includes:

  • Loan number
  • Estimated closing date
  • Borrower name
  • Property address
  • Closing fee details
  • Loan contact information

Title Fulfillment

Title companies will be able to access the HUD-1 Reconciliation for the loan and approve what’s been inputted.