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Filogix Training

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About Course

 

This is the main page you’ll see when logging into Filogix and it provides the following options.

  1. Create New Application
    • Allows you to create a new application
  2. Quick Search
    • Quickly reach through your files
  3. Advanced Search
    • Allows to be more specific in your search
  4. Accesses the task list (last page of package)
  5. Quick Link to D and H
    • Links to D and H website, and provides the service number
  6. Sign off button
    • Securely log out of Filogix
  7. Recent Application List
    • Lists the last 10 application accessed
  8. Navigation Bar
    • Explained later on

 

Course Content

Workspace
This section gives you an overview of all the files you currently have in Filogix.

  • Details

Reports
This section will allow you to generate progress report pertaining to your files.

Tools
A variety of self‐explanatory tools available through the Filogix system.

Options

Create New Application
The main application editor page.

Shortcuts

Session Timer
If there is no activity (save, window change/refresh) for 30min, Filogix will automatically log you out for security purposes.

Navigation Buttons

Navigation Bar
The Navigation bar lets you quickly move around to different sections of the application

Summary
The summary of the current application, listing the main details of the application.

Applicant Details
The personal details of the applicants.

Identification
This section allows you to put in the pieces of ID you have used to verify the client’s identity, the section is not mandatory, but it is good practice to input this information.

Address
In this section, you would enter the address of the applicants. Filogix requires a 3‐year history of addresses.

Employment
This section allows you to enter the applicant’s employment details into the system.

Other Income, Assets and Liabilities

Other Income
In this section, you will enter any other income earned by the applicants above and beyond the income they’re earning in the employment section.

Assets
In this section, you would list the assets owned by the clients above and beyond the subject property and any propertied listed in the Properties Owned section

Liabilities
In this section, you would add the liabilities owned by the applicants. For the most part they will copy once the credit bureau has been pulled and the Copy to Liabilities option has been ticked. Please note that not all items will copy from the credit bureau so it is very important to cross‐reference this section with the credit bureau to ensure that it is correct.

Properties owned
In this section, you would enter the details of any properties owned by the applicants. You can add a new property using the buttons on the bottom of the section.

Mortgage Information
In this section, you would add the details of any mortgages registered against the corresponding property. You can add a new mortgage to this property by clicking the Add Mortgage button, conversely, the delete button will delete the corresponding mortgage.

Subject Property
In this section, you will enter the details of the subject property; the one that will be used as security for the loan. The Lot, Block and Conc./Township fields are used when a property does not have a residential address, or has not been assigned one. The client or realtor will be able to provide you with this information.

Down payment and Mortgage Information
This section allows you to input the down payment and its source (on refinances, the down payment is the existing equity in the property).

Mortgage Request
In this section, you will enter the details of the mortgage you are requesting.

Qualification Details
This section calculates the qualification details of the mortgage. The GDS and TDS figures shows at the top Filogix covered in the next section, are calculated by the figures inputted into the Qualification Details and not those inputted into the Mortgage Request Details.

GDS TDS LTV
This section, which will always be visible at the top of the Filogix window, calculated the GDS/TDS ratios Net Worth and LTV based on the loan amount requested, figures used in the “Qualification Details” Section, subject property information and the assets and liabilities sections.

Credit Bureau
This section allows you to request credit bureaus from Equifax.

Participants
This section keeps track of all parties involved in the transaction, but it is most often used to select the submission agent, assign a co‐agent and to co‐broker a deal.

Lender Submit
In this section, you can submit the completed application to the lender of your choice.

Lender Response
In this section, you can view the responses you received from the lenders.

Details
Please note that the underwriter will often set the decline reason as “Other” with no additional information. If that is the case, and no underwriter contact information is provided, then you will need to reach out to that lender’s business development manager for further details and underwriter contact information.

Lender Status
This section will show status updates for mortgages submitted on this application. Only submissions to lenders who have activated this service will display here. There are few lenders who update this section so it is not used very often, if at all.

Fees
This section allows you to input the fees involved in the transaction. The amount column is self‐ explanatory, as is the comment section. If the box “Deduct from Principal” is selected, then that particular fee will be deducted from the principal amount of the mortgage. All those deductions will be added up in the “Calculated Details” section. If the box “Include in APR” is checked then that fee will be added into the “Total Cost of Borrowing” field of the “Calculated Details Section”. As a rule of thumb, all fees and costs should be included in the APR. Clicking the Recalculate button will recalculate the figures in the “Calculated Details” section.

Forms
This section will allow you to print off the appropriate documents for the mortgage. It is broken down into a section for the entire deal and one for each mortgage on the application. The document listed under “Deal” is generally only the consent form, which applies to the client and not to a particular mortgage. If there are multiple mortgages on the application, there will be a second section named “Second Mortgage” which will create documents for that mortgage only.

History
This section shows the history of activity on the application. If any changes were made and you sure when or by whom, you can check here.

Internal Notes
This section allows you to enter internal notes to remind you to complete tasks. Personally, I never use this part of Filogix as it takes too long to load and you cannot have more than once instance of the application running.

Services
This section provides income calculators and amortization scenario builders. It will also allow you to extract your client data to a CSV file for use in another application. Personally, I never use this part of Filogix as it takes too long to load and you cannot have more than once instance of the application running.

Commissions
This section will calculate your commissions for the file and allow you add fees and deductions. Personally, I never use this part of Filogix as it takes too long to load and you cannot have more than once instance of the application running.

Commission Details
This section will show the details of the commissions and any other agents on the file. Personally, I never use this part of Filogix as it takes too long to load and you cannot have more than once instance of the application running.

Tasks
This section allows you to setup and monitor tasks, and assign them to other agents on the deal. Personally, I never use this part of Filogix as it takes too long to load and you cannot have more than once instance of the application running.

Decoding Equifax Error Codes
Error codes are easy to find on a credit bureau if you know where to look. Once you find the error number, you can look‐up the error description in Expert eLearning and correct it on your application. Here is some of what you can find on a Credit Bureau with an error. In this case our error is 306.

Filogix Training Quiz

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