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March 12, 2025

• Conventional Fast Track Program

We are thrilled to bring back a version of our Conventional Fast Track Program (same day underwriting), effective with submissions into underwriting on and after Monday March 17, 2025!

To be eligible for the Fast Track Program, the loan must meet the following criteria:

• Submitted to Underwriting by 3PM EST
• Employment Reps & Warrants – ALL Employment / ALL Borrowers
• Income Reps & Warrants – ALL Income / ALL Borrowers
• Asset Reps & Warrants – ALL Assets / ALL Borrowers
• Appraisal Waiver/PIW (OR) Appraisal in file with a Risk Score ≤ 2.5 and no overvaluation on SSR

Prior to submitting the file into Underwriting, the “Fast Track” box on the Borrower Summary – VDMC form must be checked:

*Note – This box should not be checked on any submission that does not meet the above.

 

As we re-introduce the Fast Track program, we would like to introduce you to the “Rep and Warrant Tracker” under the “Tools” tab – It’s close to a One Stop Shop on all things conventional.  This screen identifies any Reps and Warrants (R&W) that you have as well as appraisal offerings on your conventional loans.

 

• FHA Streamlines: Streamlining the Streamline

We are excited to introduce the ‘FHA Streamlining the Streamline’ initiative, designed to help you become an expert in the process! This program, along with the accompanying checklist, is specifically crafted to set up these files for success, minimize processing time, boost efficiency, and reduce associated costs. Effective Monday, March 17, for all FHA Non-Credit Qualifying Streamlines submitted to Underwriting, we are pleased to announce a reduction in the Underwriting Fee. If the file is a one-touch submission (from Submittal to CTC), the Underwriting Fee will be lowered from $1,095 to $795. This is just one of the many ways we are working to support your success and streamline the process.

We’ll be hosting a 30-minute Streamlining the Streamline training on Thursday, March 20 at 1:30pm ET/10:30am PT. Invitations will be sent soon!

• Dreams Come True Update

We have successfully tested our Dreams Come True product – special thanks to Shyanne Steed for being instrumental in closing our first loan! This is a lease-to-own type product provided through Land Home Financial and Trio. We will be launching this product out companywide and will be hosting a sales training for everyone. If you wish to learn more about the product and wish to utilize the program – please attend the training!

Sales training to be held Wednesday, March 26 at 2pm ET/11am PT. Watch your email for an invitation.

• New Support Ticket Portal

VanDyk Mortgage is transitioning to Desk365 as our new internal ticketing system, replacing Capacity. This upgraded system offers a more efficient ticketing process with enhanced notification capabilities via email and Teams. The support workflow will remain unchanged, and users can continue submitting tickets through department emails as usual. The new Teams notification feature will be rolled out in the coming weeks. IT, Compliance, and Production Support have already made the switch, with other departments set to follow soon.

• Bayview: Second and Investment Program

We are excited to launch an additional 2^nd Home and Investment outlet with limited loan level Price adjusters (LLPA’s). This option will be a delegated underwrite, which means are awesome VanDyk Underwriters will be underwriting the loans. We do need to underwrite to the Bayview guidelines and not straight agency. Those guidelines are available to review here. These new options are now live in Polly for you to price and lock.

• Policy Updates

The Production Minimum Standards Policy and HELOC Commission Policy have been updated in Seafile. You can find these in Howee Shared Docs > HR > Company Policies.

• Seafile Update

Our Howee Shared Docs folder in Seafile has officially been updated – and we’ll have a Seafile training on Wednesday, April 2 at 2pm Eastern. Join us for tips and tricks for navigating Seafile and utilizing it to its full potential – invitation will be in your inbox soon!

• AllRegs

We’re excited to share that our access to AllRegs is back! If you previously accessed AllRegs with your VanDyk email, your existing password may allow you to login with no issue. Otherwise, you can reset your password here.  New users can self-register for an account using this link and Subscription ID 423409-66.

• Brokered Loans: Appraisals

For brokered loans, the best practice for appraisals is to order them directly through the lender. Most of our lenders have an appraisal link directly in their portal, and the A/E can provide guidance when needed.

The only time we should be using a ValueLink appraisal for a brokered loan is when we already have an appraisal for an in-house loan that couldn’t move forward here at VanDyk. Check with the A/E regarding their process for appraisal transfers in those cases.

• Pre-Approval Letter – Updated in Encompass

A new feature will be added to the Borrower Summary VDMC – Page 2 where extra conditions can be added the letter when you print the Pre-Approval Letter (Formal). This is an optional tool to allow you to streamline your pre-approval process. If you do not enter anything here, nothing extra will print on the pre-approval letter you are used to.

This will not impact the pre-approval letter in Floify, only if you print the pre-approval letter within Encompass. The spacing has also been adjusted to help condense the letter onto one page.

• Xactus: Credit Simulator Update

Xactus has launched a new FICO Score simulator that will evaluate possible impacts to consumers’ FICO Scores and includes a variety of scenarios – using FICO’s simulator and algorithms. We are working on scheduling a training on this new simulator and will send invitations once it’s available.

• Marketing Updates

NEW Tradeshow Items – Stand Out at Your Next Event!

We’ve got everything you need to make a great impression at your next event! You can rent a tablecloth, tent, or choose from two retractable banner options to showcase VanDyk Mortgage. Get the materials you need to stand out here. We’re always adding new items to the store based on what you need! Recent additions include stress balls, matches, jar openers, umbrellas, and more. Have a suggestion? Let us know at vandykmarketing@vandykmortgage.com.

NEW Rate Enrichment – More Savings for Clients, More Loans for You!

We’ve made it easier than ever for Loan Officers to help customers save money! Our new Rate Enrichment tool shows exactly who in your database could benefit from refinancing down to the actual dollar amount they could save. It also calculates savings over time (3, 5, or 10 years), so you can quickly share real numbers that make sense to your borrowers. Log in to Total Expert here to get started and watch the instructional video here to learn more, or join office hours hosted daily at 2:30 PM EST by clicking here.

• New Hires and Rehires: Welcome!

Giselle Caballero – TC, Branch 723

Sabian Buxton – Corporate Receptionist

Mallory Geraci – LO, Branch 453

Sonja Curry – TC, Branch 714

Howie Sacks – Divisional Manager, Branch 731

Heather Daley – LO, Branch 546

Nikki Medina – LO, Branch 547

Bronson Passmore – LO, Branch 260

Joy Gibson – LO, Branch 548

 

Agency Updates

So far in March, the agencies have not provided any substantial updates. Should that change, we’ll be sure to send them out in a separate communication.

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Upcoming Events and Reminders

Miss a training? You’ll find our monthly newscast and Iron Sharpens Iron recordings in the VDM Vault. Department-specific trainings are shared in their respective Seafile folders.

Don’t forget: you can find invitations on our shared calendar under What’s Happening at VDMC.net (all times posted on the What’s Happening calendar are EST)

• Deal Desk: Every Tuesday @ 1:30pm Eastern
• Origination Nation: Every Monday and Thursday @ 12:00pm Eastern
• Production Roundtable: Wednesday, March 12 @ 2:00pm Eastern
• VanDyk Mortgage Newscast: Thursday, March 13 @ 1:00pm Eastern
• Iron Sharpens Iron: Tuesday, March 18 @ 11:00am Eastern – Featuring Special Guest Matt Kirby, Executive Business Coach with Southwestern Consulting
• Dreams Come True Loan Sales Training: Wednesday, March 26 @ 2:00pm Eastern
• Seafile Overview & Tips: Wednesday, April 2 @ 2:00pm Eastern

 

 

Hard Pulls, Soft Pulls, and AUS

As a reminder, we can run DU or LP on hard pulls and soft pulls on Conventional loans. For government loans, DU requires a hard pull – but LP will run with a soft pull for FHA or VA.
USDA will only run GUS with a hard pull.

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25 Points