The Pipeline View displays all active loans associated with a specific web user. Active loans are defined as loans registered that have not been purchased or cancelled. The pipeline is composed of three sections: Summary, Floating, and Locked. Clicking the appropriate tab allows the user to navigate between the floating and locked pipelines and the associated summary pipeline for each group. Dynamic action items are displayed for both floating and locked loans. The pipeline views are default sorted by the loan creation date with the most recent loan being displayed at the top of the pipeline. The pipeline can be re-sorted by clicking on any one of the column headings. Clicking the column heading once will sort in ascending order, while clicking the column heading twice will sort in descending order.
Loans registered with Freedom and not yet purchased or cancelled will appear in a user’s pipeline as long as a valid loan officer/web user is associated with the loan. Loans registered from the web automatically have the correspondent lender and the loan officer assigned based on the user. Loans faxed or called in for registration must have the correspondent lender and the loan officer identified in the registration process in order for the loan to be associated with the web pipeline. Loans purchased and loans cancelled will appear in the pipeline view on the day of the transaction only. Once the purchased date or cancelled date is past the loans will disappear from the pipeline view.
Loans that have not been locked with Freedom will appear in the floating pipeline. Loans cancelled will not appear after the date the loan is cancelled. The action items associated with floating loans are edit, lock, and terms and conditions.
Locked and expired loans that have not been funded or cancelled will appear in the locked pipeline. A funded or cancelled loan will be viewable in the locked pipeline only on the day the loan is funded. The action items associated with the locked pipeline are re-lock, extension, lock period change, product change, terms and conditions, and rate change.
The web site is fully integrated with Freedom's Loan Origination System. Any changes to a loan in the backend system are immediately available to the web site. To see the most recent pipeline information click "view your pipeline" or "reload pipeline". Clicking refresh on your browser will not update your pipeline.
An hourglass in the action item section indicates that an Freedom Mortgage employee is working on the loan in the backend origination system. Web users are not allowed update access to loans that are in use by Freedom.
Floating loans allow access to an edit action, an upload loan action, and a lock action. Locked loans allow access to additional pricing policy actions, including a re-lock action, an extension action, a lock period change action, a product change action, and a rate change action. A T/C (Terms and Conditions) action may dynamically appear on both floating and locked loans depending on the status of the loan. Terms and conditions provide detail on the underwriting requirements associated with loans underwritten by Freedom.
The edit loan action item allows the authorized web user to change certain information on a loan in the floating pipeline. The edit loan action is dynamic and is no longer available once a loan has been locked or once a loan has been received by Freedom for underwriting.
The T/C (Terms and Conditions) action item is a dynamic action item that allows the web user to view underwriting conditions on loans received by Freedom for underwriting. The T/C action item may dynamically appear and disappear based on the status of the loan.
The lock loan action item allows the authorized web user to finalize pricing and lock the loan with Freedom. Edit routines run at both the web level and as the loan is interacting with Freedom's loan origination system. These edits provide real time support in many areas of the pricing and eligibility rules associated with locking a loan. A lock confirmation form in PDF format is returned to the web immediately after the loan is locked. The lock confirmation form may be printed or can be referenced and printed from the document center at any time after the loan is locked. The document center is located at the bottom of the locked pipeline view.
The re-lock loan action item allows the authorized web user to execute a one-time worse case re-lock of an expired loan. A worse case scenario re-locks the loan at the worse price of the original locked price or the current days pricing.
The extension action item allows the authorized web user to execute a one-time extension of a locked loan. Pricing adjustments are associated with the different allowable extension terms.
The lock period change action item allows the authorized web user to change the lock period selected, i.e. 15 day, 30 day, 45 day, etc. The lock period may be changed within three working days of the original lock date. The price and expiration date will be adjusted based on the new lock period and the original lock date.
The rate change action item allows the authorized web user to change the rate associated with a locked loan. A rate change results in a re-price based upon the original lock date.
If pricing is not available, a message will appear indicating prices are not yet available. The user will need to re-execute the lock policy action item once rates are available for the current date/time. If the Access Daily Rates portlet reflects the availability of rates for the current date/time, and a message is still displayed that pricing is not available, the loan may be in conflict with additional pricing engine edits. Please call the correspondent registration desk for further assistance.
The "Register Loan" portlet allows authorized users to input loan level information required to register a loan with Freedom. Information tabs exist for borrower information, product selection, loan level information, and loan verification. This manual registration is often referenced as the “short form registration” and is a quick and easy alternative to uploading the loan. A confirmation screen is returned for verification once the loan is registered. The confirmation reflects Freedom's loan number associated with the registration. The confirmation screen offers a print functionality and contains links to both the loan locking portlet and the users pipeline view.
The "Upload Loan" portlet provides authenticated web users the ability to upload a loan from their hard drive to the web-site. The loan must exist on the users hard drive in a compatible FNMA 1003 format in order for the file upload function to work properly. Once the upload is complete, users are asked to enter several additional fields of data necessary for pricing and the loan registration process is automatically completed.
The "Loan Look Up" portlet allows the authenticated user to access a single loan directly from the portlet. By keying a specific loan request in the Loan Look Up portlet, the user is provided access to the normal pipeline view for the specific loan requested. A variety of actions are available from the pipeline - Floating Loans (Edit, Lock, View Terms & Conditions) and Locked Loans (Relocks, Extension, Product Change, Change Lock Period, Change Rate, View Terms & Conditions). Each of the actions triggers a linear series of steps that facilitate the selected function.
The Daily Rates Update portlet communicates the status of rates via a changeable message and date/time stamp. The text in the display will change based on the current status of rates with Freedom. The portlet may contain such messages as "Current rates are not yet available", "Rates are available for the current day", or "A rate change is pending " new rates will be available shortly".
The Access Daily Rate portlet communicates the status of Freedom's current rates via a changeable message and a date/time stamp. The portlet allows an authorized web user to access current or past rate sheets in the form of a PDF document or in an Excel spreadsheet format. The posted rate sheets can be printed or downloaded in an Excel format. An additional drop down box allows users access to archived rates from previous days.
Archived rates are available in the Access Daily Rates portlet under the section labeled "To view past rate sheets please select a date". Clicking the "Select Date" drop down box will allow access to rates for previous dates and times.
The Edit My Profile portlet allows users to edit information in their portal profiles. Editable information may include first name, last name, email address, password, and security questions and answers. Information in the security questions allows users the ability to automatically reset forgotten passwords based on correct answers to the security questions.
This Login portlet allows users to access the global Login screen, where they can enter their username and password to log in to the website. The Login portlet also provides users the ability to link to the Forgot Password screens for help in recovering their password.
The "Quick Links" portlet contains links to frequently sought portal pages. The pipeline portlet and the register a loan portlet are currently available as quick links. Additional links may be added based on user needs. Clicking the desired link provides direct access to the requested functionality.
The Pipeline View displays active loans associated with an authenticated web user. Active loans are defined as loans registered that have not been purchased or cancelled. The pipeline is composed of three sections: Summary, Floating, and Locked. Clicking the appropriate tab allows the user to navigate between the floating and locked pipelines and the associated summary pipeline for each group. Dynamic action items such as edit, lock, and re-lock are displayed for loans in the pipeline.
The Register Loan link provides access to the register loan portlet. The register loan portlet allows authenticated users to input certain loan level information required in registering a loan with Freedom. Information tabs consist of borrower information, product selection, loan level information and a verification tab. This manual registration is often referenced as the "short form registration" and is a quick and easy alternative to uploading the loan.
The "Your Reports" portlet provides a hyper-linked list of available PDF reports specific to the correspondent lender. A number of additional reports
are available in a downloadable CSV (comma separated value) format. The list of reports available may vary based on the user's login profile.
Final Document Exceptions Over 180 Days Report
The Final Document Exceptions Over 180 Days Report is available at the correspondent lender level for all authenticated users. The report details
loans and associated exception information for loans that have been funded over 180 days. A full document exception report is generated monthly
and mailed to all lenders. The exceptions on the greater than 180 day report provide lenders with an up to date view of loans that are becoming
more high profile in the document exception category. The Final Document Exceptions Over 180 Days report is updated daily.
Purchase Advice Report (PDF and CSV)
The Purchase Advice Report is available in both a printable PDF format and a downloadable CSV format. Both reports detail loans funded for the
selected date with the associated break down of the final purchase amount. Totals are provided by wire bank. The Purchase Advice Report is
The "Quick Help" portlet provides a quick reference to some of the most frequently asked help questions. Click the desired link to access an extended discussion area for the item selected.
The question marks contain additional information about the portlet on which they are located. The information may be accessed by simply clicking on the question mark.
The "Resource" portlet provides links to a number of industry related web sites. The linked sites may require the user to provide additional login information in order to access the site’s full functionality.
The "Total Funded for the Day" portlet is available as a portlet on the manager’s home page. A user must be set up with web authorization of manager view or manager edit in order to have access to the Total Funded for the Day portlet. The portlet provides managers with a notification of the total dollar amount of loans funded for the current day. The portlet is dynamically updated each night and will reflect a $.00 dollar amount on the days when no loans are to be funded.
The "Your Contacts" portlet provides state specific Account Manager and Client Relations Representative information for the state selected. Additional access is provided to the correspondent lending home office staff, by clicking a department in the Select a Department drop down box located at the bottom of the portlet. Once a correspondent user logs on the portlet becomes a custom portlet displaying the contact information for the users specific Freedom Account Manager and Client Relations Representative.
What is the function of the "About Freedom" content display portlet? The "About Freedom" portlet provides users with basic information about Freedom Mortgage and the Freedom Mortgage Correspondent Division.
The "Application Package" portlet contains a hyper-linked list of required and suggested PDF documents needed by potential correspondent lenders for completing the application process. Lenders applying for correspondent status with Freedom Mortgage should work with the state specific Account Executive in completing the documents in the application package prior to submitting the package to Freedom. Use the "Your Contacts" portlet to determine the correct Account Executive for your state.
The "Approval Criteria" portlet displays minimum and operating level approval requirements for becoming a correspondent lender with Freedom. The approval criteria also serve as an easy reference for the requirements for maintaining good standing as a correspondent lender with Freedom. Lenders applying for approval as a correspondent with Freedom should reference the approval criteria in conjunction with the application package located in the "Application Package" portlet. Approved lenders may access the "Approval Criteria" portlet as a current reference for ongoing lender status requirements.
The Correspondent Guide portlet allows authenticated users access to the Correspondent Lending Guide. The Correspondent Guide provides specific rules, processes, and procedures for doing business with Freedom. For easy reference, the guide is arranged in chapters, sections, and sub-sections. Clicking a chapter or section link will direct the user to the selected area of the correspondent guide. Hyperlinks located throughout the guide allow users to easily move to and from related sections of the guide.
The Correspondent Guide Link portlet provides the authenticated user with a quick link reference to the Correspondent Guide. The Correspondent Guide Link portlet is used on full portal pages in order to provide the full service user direct access to the guide for easy reference.
The Bulletins portlet contains a hyper-linked list of Bulletins specific to informational and policy announcements published by Freedom. Links located within the bulletin often provide direct access to related sections of the Correspondent Guide.
The What's New portlet contains a hyper-linked list of new additions to the Freedom Correspondent web site - items such as specific exhibits, bulletins, and recent changes to the guide content. Links in the updated documents direct the user to specific sections within the Guide, stand alone PDFs, other portal pages, or off-site pages.
The FAQs/Help portlet provides users with answers to frequently asked questions as well as a variety of additional informational dialogues. FAQs/Help is frequently grouped around special functions such as pipeline features, registering loans, loan action items, and rate information.
The State Licensing portlet displays licensing information for states with which Freedom is licensed to do business.
The "Terms & Conditions" portlet displays terms and conditions for using the Freedom Correspondent website.
The What This Site Can Do For You portlet provides copy that communicates the value of the www.FreedomCorrespondent.com website to anonymous users.
The "What's New - Anonymous" portlet provides a list of news items, such as recently updated or other important information Freedom wants to pass on to the Correspondents Lenders.