VanDyk Mortgage News: April 11, 2024

April 11, 2024

• Welcome to VDM: Virtual Company Space

Exciting news – we have created a new virtual environment!  Like Pump Up the Volume, Welcome to VDM is a companywide virtual meeting space.  Here you can visit departments, access recurring meetings (like the Newscast and Iron Sharpens Iron), play the NEW scavenger hunt and take photos to post to social media.  Access content via the VDM Virtual mobile app or through the website here: Welcome to VDM.  See the attached announcement email which includes instructions on accessing the site.  Fun tip – you can join tomorrow’s live newscast via Welcome to VDM !

• Welcome to the Team, New Hires!

Help us welcome our newest teammates and check out their Photobooth pics in our new virtual space at VDM. Drop by and add your own photo!

• Welcome Mia!

Please join us in welcoming the newest addition to the VanDyk family, Mia! Born on Monday morning, Mia weighed a healthy 7 lbs 7oz and measured 20.25 inches tall. Her beautiful dark hair has already captured our hearts and we couldn’t be more grateful for her safe arrival. The VanDyk’s are overjoyed to have her in their lives. They want to extend their heartfelt thanks to everyone for your love and support throughout the journey to Mia’s arrival. Your kindness has meant the world to them as they embark on this new chapter as a family.

Please join us in sending warm wishes and congratulations to Mia and her proud parents as they begin this incredible adventure together!

• Soft Pulls – AUS for Government Loans

Until recently, we were able to run FHA and VA loans through Freddie Mac’s LPA using a soft pull.  This was a system glitch with Freddie, which has since been fixed. We are no longer able to run government loans through AUS utilizing a soft pull.  See the attached revised job aid and reach out to productionsupport@vandykmortgage.com with any questions.

• Winnow Guideline Search: Discontinued

Please note that our company access to Winnow has been discontinued. You can utilize Howee at VDMC.net for any of your guideline needs:

• Encompass Forms Updated

The below input forms have been updated to account for workflow changes and encompass updates. The major changes/additions are listed below.

• • Borrower Summary – VDMC
    • First Time Homebuyer dropdown – Field is tied to the declarations on URLA Part 4 (5a).
    • Seller/Lender Credits section.
    • Payment Shock Indicator – Will flag on 150%+ increase from Current Payment to Proposed Payment.
    • ATR/QM – Points and Fees. – Flag takes Seller Credits into account.
    • AMI – Affordable loan Eligibility.
    • Message to User – To improve communication, messages for certain tasks, such as Annual Training will may be displayed when navigating to this form.
  • Closing Request – VDMC:
    • Closing Date Requested – Removed Button feature. User can now input the date directly once all required fields have been completed.
    • Required fields – Highlighted in Red.

eFolder Docs/Invoices – Required fields now tied to eFolder buckets.

• Recent Events Recap
  • We’d like to give a shout out to Samantha Archabal for winning the marketing video challenge last month! Great job Samantha!
  • As an added point of interest and fun, the winners of our Dance-Off game during Pump Up the Volume collected their reward earlier this month.

• COC: Clarification for Loan Type Changes

When you have a COC due to the core program being altered (i.e. Conventional, FHA, USDA, or VA), these requests will be redirected to the Compliance department to disclose.

However, in instances where the loan program is changing (e.g., from Bond to Non-Bond) but the core program is unchanged, the branch offices will be permitted to submit the redisclosure request through the Disclosure Desk, as no additional program-specific documents require manual intervention.

• LOs eSigning URLA from a Mobile Device: How?!
  • Follow this link on your mobile device è www.encompassloconnect.com
  • Log in using your Encompass username and password. Our instance ID is BE11125393
  • Navigate to “Packages” in the main menu
  • Select the eClose Package you wish to eSign by clicking “Review & Sign.”

• Broker Comparison Tool Update

We have added additional details to the  Broker Comparison Tool, including the lenders’ submission process – find that under “Submission Info” in the bottom navigation tabs. Feel free to bookmark the comparison tool for quick access – and if you lose the link, you can visit Howee and find it in the main menu.

• Prism Reminder

When PRISM/blueprint emails you that their income calculation is complete, be sure to read the notes.  There is also an email address that you can contact if something wasn’t submitted accurately and therefore impacts the calculation.  See the example below.  Upload the most recent tax year and email info@getblueprint.io.

• New Flood Service Provider

We wanted to make you aware of the new flood cert provider we will be utilizing.  Beginning on April 1^st, new files that trigger the flood cert order will push to ICE/SnapCorp for results.  We are not expecting interruptions to your workflow, however, should you need a correction to the flood cert automatically obtained for your file, there is a new process for requesting revisions.  See the attached job aid for instructions and reach out to productionsupport@vandykmortgage.com with any questions.

• Reminder: HomeReady/Home Possible: $2,500 Grant Option

Fannie Mae and Freddie Mac have launched a $2,500 grant program designed to help very low-income borrowers. To qualify for this program, borrowers need to be eligible for either HomeReady or Home Possible and have income at or below 50% AMI.

AUS findings will contain the following messaging if the borrower qualifies. See the attached how-to for setting up your loan to reflect this grant.

DU:

LP:

• Marketing Updates

Marketing is thrilled to announce our upcoming Open House & Broker Open Challenge, designed to help you generate leads by increasing your visibility in your community through active participation and strengthening and gaining realtor partner relationships!

Enter for a chance to win a Nespresso! Attend as many open houses and broker opens as possible, and post the photos to your chosen social media platform with the hashtag #VDMCLiving. It can be a group photo, solo photo, or even a photo of your setup with VanDyk merch and goodies!  Join The Challenge – Join The Teams Channel Here!

The Details:

• Sign Up: To participate, join our Teams channel by using the link above.
• Start Attending: Take opportunities to attend weekly open houses or broker opens. We will share some tips and goodie bag ideas on the Teams channel that you can bring.
• Post & Hashtag: Share your photos on your social media with the hashtag #VDMCLiving.
• Earn Points: Each post earns you 10 points.

• HR Updates

Great news!  VanDyk has added an Employee Assistance Program benefit for all employees.  This is now available to all full time benefit-eligible employees at no additional cost. Please see the attached flyer for more information.

Agency Updates

VA

Ordering a VA IRRRL Case Number:  VA recently deployed a system enhancement that provides lenders with additional information about the terms of the Veteran’s existing VA-guaranteed loan when ordering an IRRRL case number. The Order IRRRL Case and IRRRL Status & History screens in VA’s WebLGY system will now display the most recent servicer-reported loan modification information (if applicable) in addition to the original information for the existing VA-guaranteed loan. See attached VA Circular for more details.

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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 at 1:30pm Eastern
• VanDyk Mortgage Newscast: Thursday, April 11 at 1pm Eastern
• Iron Sharpens Iron: Tuesday, April 16 @ 11am Eastern
• Production Roundtable: Wednesday, April 17 @ 1pm Eastern  REMINDER: ATTENDANCE IS MANDATORY for all LPs and TCs/LOAs who perform TC functions.

And coming this summer: Pump Up the Volume Re-Mix! More details coming soon.

Additional Training Opportunities

• Freddie Mac has several training offerings available in April and May. Check out the calendar here and enroll today!
• MGIC Presents: Credit in 2024 – What You Need to Know to Stand Out with Referral Partners and Borrowers: Thursday, April 18 at 2pm ET. Register Here!
  • This webinar will cover trigger leads, credit score modernization, the proposed transition to bi-merge credit reports, and more hot topics about credit.

Area Median Income – Field for Pipeline

Did you know we have a field that will display the AMI right on your pipeline view? This can help identify borrowers who qualify for the Fannie/Freddie $2,500 grant discussed above, as well.

If you need any assistance modifying your pipeline view, reach out to Production Support.

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