Loan Test Exercise 1 - Conventional 30 Year Fixed

Loan Test Exercise 1 - Conventional 30 Year Fixed

In your beta environment, complete an individual application in Blend using the following information: 

1. Activate your Blend account. 

 Resources: 

Account Activation Video

Account Activation 

2. Click New Loan to create a new loan from the Pipeline screen.

3. Click Create Test Loan. 

4. Select 30 yr conv fixed beta.

5.  Click Create.

 Resources: 

Start an Application

Blend Basics Learning Videos

Use the following information to create a new loan in Blend

Loan Creation Exercise Criteria
Create a New Loan - Use Dev Utils tool
Loan Type				Purchase Price - $500,000 Loan Amount - $350,000 Estimated Property Value - $525,000
Down Payment Amount/%				$150,000 Source(s) - Checking & Gift (relative)
Product Type/Amort Period/Amort Type				Conv, 30 Yr Fixed
Subj Property Type				Single Family Home Use - Primary Residence Address - TBD   City: Tulsa, State: OK,          Zip code: 74135
Note: Leave the street address as "TBD".
Estate/Title Manner Held				Fee Simple/Sole Ownership
Martial Status				Unmarried
Borrower/Co-borrower				Name - Andy America SSN - 999-60-3333 DOB - 01/01/1981 Phone - (415) 983-2437 Current Address - 309 North Elm Street, Orrville, OH  44667 Mailing Address - Same as current address
Credit				Manual Pull AFTER Loan Creation
Employment				Employer - Chik-fil-a Position -  Asst Manager Phone - (301) 292-9987 Type - Employment Start Date - 04/04/2014 Yrs in Industry - 10 Pay Type - Salaried Pay Amount: $120,000 Base $6,000 Bonus $3,00 Overtime Business Address - 99 East Washakie St, Meridian, ID  83646
Other Income				Social Security - $3,500 per month Alimony - $500 per month
Assets				Checking -  $300,000
Note: To test Large Deposit LOE and GAS, leave blank and import BAC through BP.
REO				Current Primary Residence - Yes Owned Retained for Investment
Declarations				Occupy - Yes Property in previous 3 years - Yes Owner - Primary/Sole Owner Delinquency - Yes, Forgot to pay 2019 income Tax US Citizen - Yes All other questions - No
HMDA Completed				Method - Internet or email Data: Not Hispanic Male  Asian/Japanese
Parameter to Trigger TRID				Subject Property Address

6. Review loan data. 

OPTIONAL:

Using a different Browser Session; Login to loan in the Borrower Portal, click through the workflow.

a. Verify that the selected TRID fields do NOT present: 

- Subject Property Value - In the GTKY

- Subject Property Address - In GTKY - asks for county/state only if lender is not collecting

- Income - Income workflow will not present on the left workflow outline (Income will not populate on the workflow until the "Getting Started" section is completed, If lender is collecting)

b. Under Assets - Use the link to add assets from either Chase Bank or Bank of America 

Username: user_good

Password: pass_good

BAC two factor authentication: 1234

- Click on the Documents menu, and view the Generated Asset Statement created by Blend. 

 Resource: Generated Assets Statement

c. Lender can go into "Co-Pilot" mode to evaluate this functionality with the Borrower

d. Borrower logs out of the loan.

e. Lender completes the following steps in the Takeover Mode. 

 Resource: Co- Pilot

7. Pull Credit (if desired), if credit feature is enabled. 

   Tip: Speak to your CSM or DL for more details regarding this feature.

 Resource: LO Toolkit - Key Features - Credit

8. Observe parameters changing in the Lender Sidebar - ratios/liabilities, if Lender Sidebar feature is enabled.

a. Enter/Adjust liabilities.

b. Enter Fees.

c. Link liability to REO, if applicable. 

 Tip: Speak to your CSM or DL for more details regarding this feature.

 Resource: LO ToolKit - Navigation - Toolbar, sidebar & responsiveness

9. Run AUS (if desired and credit pulled), if AUS feature is enabled. 

 Resource: LO ToolKit- Key features - Automated Underwriting system/Desktop Underwriter (AUS-DU)

10. Enter the missing TRID parameter and Save loan data. 

11. Accept the popup warning to trigger TRID and auto export the loan. 

12. If integrated to an LOS - Validate loan creation and data population in applicable LOS fields. 

a. Import the file to the LOS. 

 Resource: Import a Blend application in Encompass

13. Expected System Generated follow-up Docs: Blend Intelligence Overview

14. Request documents from the borrower in Blend. 

 Resource: Follow-Ups

15. Import the documents uploaded by the borrower in Blend into the LOS.

  Tip: Encompass customers can click HERE for steps to import documents from Blend into Encompass. All other customers, please follow your process to import documents from Blend into your LOS. 

Enter the test application as a borrower

1. Copy the email address of the borrower for the created loan. 

2. Open a different browser or an incognito window.

3. Enter the email address and use the password Password123! to create a loan.