Important Commitment System Updates

U.S. Bank Home Mortgage Allows E-Signatures on USDA Loans
U.S. Bank Home Mortgage Housing Finance Agency (HFA) Division (formerly the U.S. Bank Home Mortgage – MRBP Division) accepts electronic signatures on initial applications and disclosures on USDA loans from lenders approved by U.S. Bank Home Mortgage to deliver electronic signatures. (Refer to U.S. Bank Home Mortgage’s November 12 bulletin 2014-54.)
This only applies to USDA initial applications and disclosures.
Minnesota Housing is reviewing our electronic signature policy, but at this time we do not permit electronic signatures. Start Up and MCC documents require copies of forms with original signatures for:
  • Borrower Affidavit
  • Property Seller Affidavit
  • Mortgage Deed Amendment (product specific)
  • Subsidy Recapture Disclosure Statement and Tennessen Warning
  • Lender Certification (MCC program)
Commitment System Upgrades
We are pleased to announce the launch of HDS Version 12. The updated commitment system offers an improved user experience by simplifying processes and adding new features and enhancements including:
  • New appearance
  • Faster processing
  • 1003 file upload feature
  • More streamlined commitment process
  • No longer requires compatibility mode when using Internet Explorer 10 and 11
Tips for Using the Updated Loan Commitment System
  • You may be prompted to change your password upon initial login.
  • Always single click. The system does not recognize double-clicking.
  • “Program Choice” has been eliminated, getting you more quickly to “New Loan” where you select the correct program, product, and downpayment option.
  • The “Origination” tab now appears at the commitment stage, so the loan officer name is now a required field when you commit the loan.
  • You will now use arrows to expand/hide program options instead of plus/minus signs.
  • See instructions below for 1003 file upload – remember to manually correct income to reflect eligibility income.
  • Review the Loan Commitment System Process Guide for more information.
1003 File Upload Feature
The loan commitment system now offers a 1003 file upload feature. Users can upload .FNM (Fannie Mae format) files to auto-populate many fields in the commitment system. Upon successful upload, lenders will verify, complete, and edit the uploaded application information on the system.
IMPORTANT: If you upload the 1003 for Start Up and MCC Borrowers, you must manually change the income field to reflect eligibility income, not qualifying income.
1003 File Upload Tools:
Commitment System Training
Join us for a Commitment System Webinar on Tuesday, November 18 from 1:30-3:30 p.m. The training teaches users how to commit, update, and fund/compliance approved loans, and the training incorporates the version 12 system changes. 
Commitment System Closed for New Commitments During Holidays
The online commitment system will be closed for new commitments during the following holiday periods:
  • Thanksgiving and the day after: 5:00 p.m. on Wednesday, November 26 through 10:00 a.m. on Monday, December 1
  • Christmas: 5:00 p.m. on Wednesday, December 24 through 10:00 a.m. on Friday, December 26
  • New Year's Day: 5:00 p.m. on Wednesday, December 31 through 10:00 a.m. on Friday, January 2
You can access pipelines and make changes to existing commitments during these times; the system is only locked for new commitments. 
Questions?
Contact the Partner Solutions Team at 651.296.8215 or 800.710.8871, Monday-Friday from 7:30 a.m.-5:00 p.m.
Updates for Start Up and MCC Borrowers 
Copies of affidavits now accepted
In anticipation of U.S. Bank HFA Division's document imaging, we reviewed our requirements for original documents. We will now accept a copy of a signed and notarized original Borrower Affidavit or Seller Affidavit in the Start Up or MCC loan file. 
Optional Income Tax Return Affidavit
If your Start Up or MCC borrower was not legally required to file a tax return in any of the three years prior to closing, you can include a signed and notarized affidavit in the borrower’s loan file. You may draft your own affidavit for the borrower to sign or use our Income Tax Return Affidavit. Borrowers who were legally required to file federal income taxes but did not do so are ineligible for our Start Up and MCC mortgage loan programs.
Upcoming Trainings
Get Your Loans Purchased Faster Webinar
Learn how to get your loans purchased faster by avoiding the most common exceptions items. The session includes tips for clearing exceptions and best practices for file delivery. This Webinar is geared towards processors, closers and post-closers.
Monthly Underwriter Calls
  • Friday, December 12 from 9–10 a.m.
Join our staff on monthly conference calls with underwriters to discuss program eligibility requirements. Email us questions and topics you would like to discuss ahead of time. To join the call dial 888.742.5095 and use conference call code 6848244658.
400 Sibley Street, Suite 300 | Saint Paul, MN 55101 US
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