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Introducing DocMagic
IMPORTANT: This is a change in policy that affects all Allied loans, from this date hence.
Please DO NOT contact DocMagic to create new accounts or request lost
password information.
Please contact the AHMCC Helpdesk by sending an email to
help@alliedhomenet.com
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Allied Home Mortgage now requires the use of DocMagic for all Initial Disclosures.
DocMagic covers an enormous number of products and loan types and does it all while keeping up with the
applicable regulations in a changing legal environment. By utilitizing this service, Allied branches will
benefit from the experience and expertise of DocMagic and will be able to generate complete and accurate
Initial Disclosure documents in just moments.
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IMPORTANT: For Those of You Already Using DocMagic
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- The application must be signed and moved from Prospect to Borrower status.
- 1/19/09 update: Click here for important help information regarding impounds
- 1/19/09 update: To ensure companies are listed in the GFE Provider Relationship, enter the company name in the GFE 'Paid To' box in Point.
The following fields in Point must be completed before requesting DocMagic forms:
- 'Loan App Pg1 | Lender Case No' - Allied Loan Number
- 'eLoanFile | Application Signed Date' (also complete co-borrower field if one exists)
- 'eLoanFile | Loan Product | Repayment - Original Maturity Term' - must match 'Term' from Loan App Pg1
- 'GFE | 1st Pmt Date'
- Select a Doc Magic CC Scenario or a CCS derived from a Doc Magic CCS
- Open 'eLoanFile | Additional Loan Data' and select ONE check box from 'Mortgage Originator'
Seller for Banked Loans
Broker for Brokered Loans
Correspondent - do not use this selection!
- After all monthly payments have been entered (Taxes, Hazard Ins, etc),
make sure you go to 'eLoanFile | Escrow Reserves' and click on the 'Calculate' button at the bottom.
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Getting Started
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Q: What are the exact steps?
- Obtain your Doc Magic credentials. These will be sent via email
- Open the file in Point
- Complete the GFE and TIL
- Go to www.docmagic.com
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Click on "ONLINE DOCS" on top right side of the home
page
- Enter
Credentials
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Enter appropriate values in the pop-up box
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Click on ICON with
red arrow at top left to import new file
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Select file in drop
down pop up
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Go through each section to verify data
It's really that easy.
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Printing
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When you are ready to print Initial Disclosures you will go to Point | Services (or e-Loan forms)
IMPORTANT: Do NOT use Calyx Print Forms for Initial Disclosure!!
Print the docs yourself so you can identify the signature blanks with a highlighter or
sticky and also because most borrowers won't have legal-size paper.
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F.A.Q.
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To help things go smoothly, here are some tips about using DocMagic.
- Make sure the TIL and GFE are complete. You can avoid many delays with this simple step.
- Run the Forms Update Utility in order to collect the Closing Cost Scenarios for use with DocMagic.
The CCS contains specific wording for the GFE line item descriptions that DM is looking for.
- The disclosure documents can be emailed directly to the borrower.
When you click on "Request Disclosures", select "Initial Disclosures w/ eDisclosure"
and enter their email address in the box provided. The documents will be emailed directly to them.
- Contact the Allied Help Desk if you need assistance with your DocMagic password.
- You can re-draw up to five times without incurring additional charges
- 1/19/09 update: Doc Magic accounts for MIP Refund and Point does not so you should expect the
GFE total settlement charges to be different from the values in Point.
- 1/16/09 update: Cash to/from borrower is not included on the GFE because this is actually a HUD-1 field and is not required for the GFE.
- If the Orgination and/or Discount Points do not show up in the broker
agreement then make sure the percentage is included on the GFE in Point
and it is marked as paid by the borrower to the broker.
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Support Numbers and Links
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Last updated January 20, 2009
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