Guide for Hybrid / Non-Delegated Correspondent

When you are subscribed to the Hybrid / Non-Delegated Correspondent (NDC) Edition of LendingPad, Please pay special attention to the following sections:

Lender Selection

• If you do not select a Lender, system will assume that you are lending/banking that loan file. Channel will be "Retail", Origination Source will be "Lender".

• If you select a Lender, system will assume that you are brokering that loan file.  Channel will be "Retail", Origination Source will be "Broker".

Processing / Secondary 

• For brokered loans, under lock information section select compensation type and enter amount then turn on the toggle "Include Compensation in Loan Origination Fee" to sync it to disclosure screen.

• For a banked loan, commission will not show in Disclosure screen.
• For centralized lock desk operation, we suggest Optimal Blue to manage the lock requests and lock pipeline.
• For Optimal Blue configuration, Settings / Actions / Pricing Provider / "user_index" from OB is the "Business Channel", and "Entity ID" is the "Originator ID".  See below.

Underwriting 

• Use Tasks to manage underwriting conditions.

Closing

• Refer to article How to Prepare Closing Docs with a Document Vendor

Post Closing

• Refer to another article How to Enter a Purchase Advice and Settlement Statement
• You may be also required to get recorded Title Policy and Deed of Trust back to investor. Please check with your investor.

Compliance

• For NMLS call report, the system will report accordingly if you select or not select a lender from Summary screen.  

          Refer to article How to File NMLS Call Report (MCR) and HMDA Report?

• HMDA

• 1098 INT Reporting