Real Estate

The following section provides information on the functions and features of the Real Estate node.

The Real Estate node is enabled when both of the following conditions are met:

• The LoansLoansInProcessRealEstate role is assigned to the user's group.
• The Loan Category field on the Characteristics node is Real Estate.

The Real Estate node may include the following tabs:

• General - Only appears for transactions with an application date of 10/3/2015 or after.
• Loan Originator
• Real Estate Data - Only appears for transactions with an application date prior to 10/3/2015.
• Initial Rate Adjustment - When this tab is unavailable, the following hover message appears: Applicable for Consumer Closed End transaction secured by RE collateral types as owner's principal dwelling AND Initial Review Frequency less than 210 days on ARM tab. This tab is only available under the following conditions:
  • The transaction is a consumer loan.
  • Open End Credit is not selected on the Characteristics node.
  • One of the following collateral is added:
    • Agricultural Land
    • Condominium
    • Boat (Federally Documented/Residence)
    • Boat (State Titled/Residence)
    • Boat (Untitled/Residence)
    • Mobile Home (Personal Property/Residence)
    • Motor Vehicle (Residence)
    • Multi-Family Dwelling (5+)
    • Non-Residential Real Estate
    • Raw Land - Real Estate
    • 1 - 4 Family Dwelling
    • Townhome (PUD)
    • Trailer (Titled/Residence)
    • Trailer (Untitled/Residence)
    • Leasehold
  • Collateral is the Owner's Principal Dwelling is selected on the Collateral > General tab.
  • On the Terms > ARM/Variable tab, the Initial Review Frequency is less than 210 days, and ARM is selected (not Variable).
• Details of Transaction - Only available during the application phase of the loan.
• Cash to Close and Summary - Only appears for consumer closed-end real estate transactions with an application date of 10/3/2015 or after.
• Est. Taxes, Insurance and Assessment Fees - Only appears for consumer closed-end real estate transactions with an application date of 10/3/2015 or after.
• Good Faith Estimate - Only appears for transactions with an application date prior to 10/3/2015.
• Required Service Provider
• Homeownership Counseling
• Contact Information - Only appears for consumer closed-end real estate transactions with an application date of 10/3/2015 or after.

You are required to complete information on the Real Estate node when it is Incomplete to be able to access Doc Manager.