HOW TO: eSign Disclosures for Your Loan through imortgage
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For Your Convenience... • We keep our loan process streamlined by providing eConsent and eSign • eConsent‐ Electronic Consent – Verb: to give permission for something to happen
• eSign‐ Electronic Signature – Verb: to write one’s name to identify oneself as the writer
• Contact your Loan Consultant for more information 2
Benefits of Electronic Consent • Convenience – Paperless‐ ability for borrowers to manage their documents electronically
• Less Pressure
– Borrowers can review disclosures on their own with family with out feeling pressure to sign right away
• More Informed
– Borrowers can take their time reading through disclosures
• Faster review periods
– Regulation review periods can start when the electronic document is received 3
Benefits of Electronic Signature • Time and Money Saved – Eliminates the needs for borrowers to print, fax, scan and ship documents
• Faster Results – Get a response in minutes – not days
• Flexibility – Applicants have the ability to sign anywhere on any internet‐enabled device
• Less wet signatures – Reduced the amount of documents to wet sign 4
How to eConsent & eSign
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Borrower Disclosure Delivery Options • Initial disclosures will be sent to:
– The email address you provide to us – Or Current Address on the Contact information screen if no email is provided – Or Mailing address if it is different from the current address
• If you have not provided an email address, all disclosures will be mailed to you. • An Email will only be sent to the main borrower; they have the ability to eConsent for all applicants. • If the main borrower does provide an email but does not eConsent and wishes to have disclosures mailed, all disclosures will be sent to the current address. 6
The main applicant will receive an email stating their eDisclosures are available online. imortgage imortgage
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The Email will contain instructions for picking up and reviewing the eDisclosure Package. This email will include your user name and temporary password.
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Click on the link in Step 1 of the instructions and enter in their user name and password.
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You will be prompted to enter your contact telephone number & then click Submit. You cannot proceed without entering a contact telephone number.
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You will be prompted to change your temporary password, then click Submit.
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You will then click on “Your Package is Available!”
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You will verify your identity by entering the last 4 digits of your social security number, then click submit answers.
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You will indicate if you consent to receive Electronic Packages. imortgage
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If you do not consent to receive electronic disclosures, then.. NO DISCLOSURE DOCUMENTS CAN BE SENT TO YOU VIA EMAIL • This includes: – – – –
All initial Disclosures GFE Change of Circumstance RE‐disclosures Corrective Truth in Lending Disclosures Appraisals
• You will receive the following confirmation stating your disclosures will be mailed:
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If you consent to Electronic Packages you will be prompted to verify your browser settings and click continue. imortgage
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You will be prompted to view the disclosure package before you can e‐sign. imortgage
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You will click on the PDF attachments to view the documents.
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You cannot e‐sign until all of the attachments have been opened. imortgage
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You can Sign or Reject the disclosures you have viewed.
You will receive the following confirmation if you click the Sign button
You will receive the following confirmation if you click the Reject option
**REMEMBER** • There are a few disclosures that cannot be signed electronically and will require you to print, sign and fax/scan back to us. • Please print and ink sign the following disclosures: – – – –
Borrowers Certification and Authorization 4506T Social Security Administration Authorization Loan Application
• Please note that if you decide not to provide e‐consent, this will affect all documentation you will receive throughout the loan process. • All documentation will need to be mailed to you, and in some cases, this may cause delays in the processing of your loan.
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loanDepot.com, LLC dba imortgage is licensed by the Alabama Consumer Credit, License 21189; AZ Department of Financial Institutions, Mortgage Banker 0924173; CA Department of Business Oversight under California Residential Mortgage Lending Act, 4131040; CO Department of Regulatory Agencies, Division of Real Estate, Registered Mortgage Company; FL Office of Financial Regulations, Mortgage Lender Servicer MLD903; GA Department of Banking and Finance, Residential Mortgage Licensee 24020; ID Department of Finance, Broker/Lender MBL‐7650; NC Commissioner of Banks, Mortgage Lender L‐147367; NM Financial Institutions Division of the Regulation and Licensing Department, as a Mortgage Loan Company; NV Department of Business and Industry ‐ Division of Mortgage Lending, Mortgage Banker 3646; OR Division of Finance and Corporate Securities, Mortgage Lender ML‐4972; SC State Board of Financial Institutions, Mortgage Lender/Servicer MLS‐174457; TN Department of Financial Institutions, Residential Mortgage Licensee 110371; TX Department of Savings and Mortgage Lending under a Mortgage Banker Registration; VA Bureau of Financial Institutions, Broker/Lender MC‐5431; WA State Department of Financial Institutions, Consumer Loan Company CL174457; WY Division of Banking, Mortgage Lender/Broker License 2092. Corporate NMLS 174457. All rights reserved.
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