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How to Navigate Truth-In-Lending

This tutorial will explain how loan officers can begin using the MortgageDashboard loan origination software. It will provide a basic understanding of the application’s functions and pages.

Step-By-Step:

  1. From the Pipeline screen, select the loan ID of the borrower you’d like to set the TIL up for.
  2. On the following page, locate “Truth-In-Lending Disclosure 2011″ on the left-side of the screen. It may be located beneath the “Good Faith Estimate” form, depending on how you’ve ordered your navigation template.
  3. Much of the information located on the TIL will be auto-populated based on the respective sources in the 1003. You can change the status to “Preliminary” or “final”.
  4. If it is an introductory rate or a balloon, select the check-box beside the corresponding name. Doing so will open up text fields that will need to be filled. These can be pre-filled provided that you have saved the Data Template as discussed above.
  5. Here, you can fill out late charge and penalty information.
  6. The “Interest Rate and Payment Summary” will be auto-populated based on if the loan is Fixed, ARM or otherwise.