DPA data entry for HFA Piggyback 2nd liens - Quick Guide

Borrower Summary URLA (PRMG):

• Scroll about 80% of the way down, answer question "Does this loan have a related loan with a PRMG Loan number” answer Y/N 
  • If using an HFA DPA answer must be Yes and enter the loan number associated 
  • If using a Standalone DPA answer must be No and there would be no PRMG piggyback loan number associated
• Click on the Sub. Financing Tab to check the following
  • If AFS referred, then AFS will create the Piggyback 2nd lien and "Link" loan to the 1^st lien, unless PALS have trained you to create a Piggyback 2nd lien on your own.
  • If not AFS referred, then for HFA, create Piggyback 2nd lien in Tools
  • Piggyback loan and "Link" the loan. The only time you would NOT link a loan with an HFA DPA is if you are creating a 3-pack 1st/2nd/3rd.

• Standalone DPA info or HELOC info would be entered in New Financing NOT linked to Current Transaction
• For all situations, confirm the LTV/CLTV/HCLTV ratios are correct

1003 URLA Part 1:

• Click on Housing icon

• Go to Proposed Housing Payment, confirm correct PITIA and Other Financing fields are correct

1003 URLA Part 4:

• Go to Declarations question 5a "C" Are you borrowing any money? Answer should be "Yes” and state amount borrowed

Lender URLA section L4:

• Review Total Mortgage Loan Section “J,” other New Mortgage Loans, confirm total amount of subordinate financing appears correctly there 

HUD-92900LT FHA Loan Transmittal Secondary Financing section:

• Enter Source (Name of DPA/EIN number). Typically, the EIN can be identified within the Product Profiles by hitting Ctrl-F to search by EIN
• Check the box for Gov't, Non-Profit or Family
• Enter the Amount of Gift

 FNMA Additional Data Form:

• Search Product Profiles by "data entry" to read how to enter the correct information in the Mornet Community Lending section.
• Source of Down Payment should be "Secured Borrowed Funds" and enter name of DPA in Explanation of Down Payment section
• Check the correct boxes for Community Lending and Community Seconds, as instructed in Product Profiles.
• Complete County field. If instructed in Product Profiles, choose a FNMA Community Lending Product from the dropdown option
• Choose a Community Seconds Repayment Structure that fits your 2nd lien profile
• When completed setup - do not forget to confirm all loans are back in My Pipeline if TRID is triggered!

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