Loan Assessment Summary

Loan Assessment Summary Section Descriptions

Section Name

Description

Batch Submission Summary Information

Information in this section includes:

• Transaction ID

• Overall UCD Requirement

• Loan History icon

• This Submission's UCD Requirement Status

• Borrower Name (Legal Entity)

• Lender Loan Identifier

• Batch ID

• User ID

• Closing Disclosure Type

• File Name

• Submission Date/Time (Military/Eastern Time)

For a definition of these fields, refer to the Batch Submission Summary Information Detail section.

Loan Assessment Summary Navigation Quick Links

This allows you to quickly link to the applicable sections of the Loan Assessment Summary without scrolling.

• Assessment Results

• Closing Information

• Transaction Information

• Loan Information

• Assessment Message (#)

This displays the type of Closing Disclosure form which was used to submit the loan file.

• Alternate: The GSEs require the usage of the Alternate form for Refinance loan transactions.

• Model: The Model form is required for Purchase Loan transactions.

• Split Disclosure: The Split Disclosure type shows when Borrower Only and Seller Only Closing Disclosure forms are submitted for a Purchase Loan transaction that was closed as a Split Disclosure.

Download Options

These options allow the user to download the following:

• The submitted XML file that was uploaded to Loan Closing Advisor.

• A downloadable file with the corresponding line number for each MISMO Schema Error which is different than the line number for the submitted XML file if more than one loan is included in the submitted XML file.

• Closing Disclosure PDF (available only if a PDF was embedded in the file)

• Borrower Closing Disclosure PDF (available only if a PDF was embedded in the file on a Purchase Split Disclosure transaction)

• Seller Closing Disclosure PDF (available only if a PDF was embedded in the file on a Purchase Split Disclosure transaction)

• Submitted XML Loan file with the embedded Closing Disclosure PDF

For more details on download options, click here.

This provides options to preview and print summary and detailed information on loan assessment results, including:

• Overall Submission Status (Satisfied, Satisfied (Without a Closing Disclosure PDF) or Not Satisfied).

  Note: This status will not be displayed for submissions encountering MISMO Schema Error, System Error and submissions prior to 04/28/2018.

• Submission Status (Satisfied, Satisfied (Without a Closing Disclosure PDF) or Not Satisfied).

• Details (borrower name, address, etc.)

• Assessment Results

• Assessment Results Details including Feedback Messages

• Loan Information

• Transaction Information

  Note: This option is not available if the General Information status is a Red X indicating a critical error.

For more details on how to view and print the Feedback Certificate, click here.

Loan Submission Information

At-a-Glance

Information in these tabs include:

• Closing Information

• Transaction Information

• Loan Information

This section provides an assessment error indicator for General Info (Information), Data Quality, and Eligibility results. In addition to the overall assessment error/informational indicator, the actual number of error messages will appear. Results tabs take you to Assessment Details. The Overall UCD Requirement status is located in the upper right corner and indicates; Not Satisfied, Satisfied or Satisfied (Without a Closing Disclosure PDF). The Overall UCD Requirement status will:

• Not display if the General Information status indicates:

  • A MISMO Schema Error, or

  • A System Error occurred, or

  • Some critical errors (Red X) related to Lender Loan Identifier and/or Document Type, or

• Displays as 'Not Available' if the submission was prior to 4/28/2018

Loans submitted prior to 10/9/2017 will display as 'Refer to Loan Assessment Summary' for the submission status.

Note: The Overall UCD Requirement status may vary by submission; however, once a loan receives a UCD Requirement status of 'UCD Requirement Satisfied', it remains satisfied and will display as 'Overall UCD Requirement: Satisfied'.

Under Overall UCD Requirement, This Submission's UCD Requirement Status is listed; Not Satisfied, Satisfied, or Satisfied (Without a Closing Disclosure PDF) for submissions 10/7/2017 through 6/24/2018.

For details on Assessment Results and Messages, click here.

This section provides the following information:

• Date Issued

• Closing date

• Disbursement date

• Settlement agent

• File number

• Property

• Sale Price/Appraised Value

For field definitions, refer to the Loan Assessment Summary Field Descriptions by Section table.

This section provides the following information:

• Borrower

• Seller

• Lender

For field definitions, refer to the Loan Assessment Summary Field Descriptions by Section table.

Loan Information

This section provides the following information:

• Loan term

• Purpose

• Product

• Loan Type

• Loan ID# (number)

• MIC# (number)

For field definitions, refer to the Loan Assessment Summary Field Descriptions by Section table.

Batch Submission Summary Information Detail

Data Field Name

Description

Comments/ Valid Values

Transaction ID

The unique identification number Loan Closing Advisor assigns to each loan data file within a successful assessment batch file.

Numerical

Overall UCD Requirement (displays on the left)

The Overall UCD Requirement status displays as: Not Satisfied, Satisfied, or Satisfied (Without a Closing Disclosure PDF). The status displays on the left side of the screen above the Transaction ID. It also displays on the right side of the screen above This Submission's UCD Requirement Status. The Overall UCD Requirement status will:

• Not display if the General Information status indicates:

  • A MISMO Schema Error, or

  • A System Error occurred, or

  • Some critical errors (Red X) related to Lender Loan Identifier and/or Document Type, or

• Displays as 'Not Available' if the submission was prior to 4/28/2018

Loans submitted prior to 10/9/2017 will display as 'Refer to Loan Assessment Summary' for the submission status.

Note: The UCD Requirement status may vary by submission; however, once a loan receives a UCD Requirement status of 'UCD Requirement Satisfied', it remains satisfied and will display as 'Overall UCD Requirement: Satisfied'.

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Loan History icon

Click on the 'clock' icon to access the Loan History page. The Loan History page allows users to see all loan submissions. The Loan Assessment Summary page will not display the 'clock' icon for loans assessed:

• Prior to 10/07/2017 or

• Encountered a MISMO Schema Error, or

• Encountered a System Error or

• General Information indicates a critical error (Red X) related to a Lender Loan Identifier and/or Document Type

For more details on Loan History, click here.

'Clock' icon

This Submission's UCD Requirement Status (displays on the left)

This Submission's UCD Requirement Status displays for each transaction as: Not Satisfied, Satisfied, or Satisfied (Without a Closing Disclosure PDF). The status displays on the left side of the screen below the Transaction ID. It also displays on the right side of the screen below the Overall UCD Requirement status.

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Borrower Name

First and Last name of the borrower or the name of Legal Entity

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Lender Loan Identifier

Unique identification number assigned by the lender.

Alpha, numeric, special characters

Batch ID

The unique number Loan Closing Advisor assigns to all batch submissions (successful or unsuccessful). Loan Closing Advisor first displays this number on the Loan Closing Advisor Upload Status page.

Numerical

User ID

The identification assigned to the user who submitted the batch for assessment.

Closing Disclosure Type

This displays the type of Closing Disclosure form which was used to submit the loan file.

• Alternate: The GSEs require the usage of the Alternate form for Refinance loan transactions.

• Model: The Model form is required for Purchase Loan transactions.

• Split Disclosure: The Split Disclosure type shows when Borrower Only and Seller Only Closing Disclosure forms are submitted for a Purchase Loan transaction that was closed as a Split Disclosure.

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Submission Date/Time

The month, day, year, and time in hours:minutes:seconds (hh:mm:ss) the file was uploaded to the Loan Closing Advisor tool based on military time (Eastern time zone).

Example: 04/04/2018 16:04:35.

Military/Eastern time

Loan Assessment Summary Field Descriptions By Section

Section

Field

Description

Comments / Valid Values

Closing Information

Date Issued

The value indicates when the Closing Disclosure was provided to the borrower.

Closing Date

The consummation date for the mortgage loan transaction, generally the date on which the borrower becomes contractually obligated.

Disbursement Date

The date the amounts due are expected to be paid to the borrower(s) and/or property seller(s).

Settlement Agent

The name of the entity that employs the settlement agent conducting the closing.

File #

The number assigned to the transaction by the closing agent for identification purposes.  

Property

The street address or legal description of the subject property and information about additional personal property that may be given as collateral to secure the loan.

Sale Price

Appraised Prop. Value

The disclosed Sale Price as recorded on the sales contract.

The disclosed appraised or estimated property value provided on the Closing Disclosure.

Transaction Information

Borrower

One or more borrowers may be displayed in the Transaction Information section. Name and mailing address information for each of up to ten borrowers can be delivered in the XML file.  The borrower may be an individual, trust, or company.

• Individual,

• Trust or

•  Company

Seller

A purchase transaction includes one or more property sellers. Name and mailing address information for each seller can be delivered in the XML file.  The seller may be an individual, trust or company.  If the loan purpose type is Refinance, there is no seller.

• Individual,

• Trust or

• Company

Lender

The name of the lender company creating the disclosure.  In transactions with multiple lenders, only the lender creating the disclosure must be identified. Where the loan is originated by a mortgage broker, the name of the lender, if known, must be provided even if the mortgage broker provides the disclosure to the borrower. Lender companies are always considered to be legal entities.

Loan Information

Loan Term

The value provided is related to the loan term. The loan term can be fixed or extendable. This and the loan purpose determine the data points to be used.  

Extendable Example: 30 Years – 33 Years
Construction to Perm- Example: 30 Years, 9 months
Loan Cannot Be Extended - Example:  30 Years

Purpose

This indicates the borrower’s use of credit:

Purchase - the borrower intends to buy the property.
Refinance - the borrower refinances an existing obligation already secured by the borrower’s dwelling in order to change the rate, term, or other loan features, and may or may not receive cash from the transaction.

Purchase or

Refinance

Product

This indicates the type of loan product the borrower has chosen.  There are 3 product types.

• Adjustable

• Fixed

• Step Rate  

Loan Type

This indicates the type of loan the borrower has chosen.  There are 4 loan types.    

• Conventional

• FHA

• VA

• USDA Rural Dev

Loan ID#

The lender’s loan number.

MIC#

For Non-Conventional (Government) loans, the MIC # is the Agency Case Number.