Direct Mortgage Wholesale Login & Loan Choices Image
DirectWare Login
 
Priority UnderwritingLoan Choices™FAQContatctLoan ProgramsLock  
     

How to Submit a Loan To Direct Mortgage

Follow these steps for a faster, easier loan submittal to Direct Mortgage.

If you have any questions regarding a submission, broker support can help. Simply call 800-924-3884.

1. Create a New Loan.
Create a loan by entering data directly into DirectWare as your LOS.  You can also import through Calyx Point®, upload an Encompass® (Ellie Mae) Fannie Mae file or a (.FNM) file created in Byte, Genesis or other programs. (Manual submissions are also accepted.)

2. Complete the Loan Application & AUS Submission Ready Wizard.
After the loan is created, be sure that you review the loan application for completeness (Menu Item: Loan Steps 1).

The AUS Submission Wizard is divided into three parts.  The first part of the wizard prepares the loan to be run through our automated underwriting system so that you can select and lock the loan.  The second part of the wizard is the HUD-1 and is where you should approve closing fees. The third portion of the wizard prepares the loan to be submitted to underwriting. At this point you should complete the AUS Submission Ready portion of the wizard.

In the AUS Submission Ready portion of the wizard you will be able to re-issue or pull credit, select what liabilities are being paid off, match your REO to your proper mortgage loans, select whether or not you want to review government programs (Must be FHA/VA approved), and validate the completeness of your loan application.  Required fields that are incomplete or information that is invalid (such as entering only three numbers in a telephone field) will be highlighted in red and you will need to complete all highlighted fields.  Once your application has been validated, a pop-up prompt will appear and give you the option to “Proceed to Select a Loan Program” or “Remain in this Wizard.” 

3. Select a Loan Program
Select "Proceed to Select a Loan Program". Our automated underwriting system will now automatically run.  Your loans choices will display with the best loan options sorted to the top. If you need to adjust any scenario criteria, you can do so in the "Loan Search Criteria" area of the screen and then clicking "Submit".
Review your loan choices and select your loan by clicking "Select". 

You can also lock your rate at this time by clicking “Price & Lock”. A new window will appear showing a full list of Interest Rates and Lock Periods. Click a YSP in the column of your desired lock period, then review the rate and YSP after all the adjustments. If the final rate and YSP is what you'd like to lock, click the "Lock" button at the bottom of the page.

4. Review the HUD-1 Uniform Settlement Statement & “Approve Closing Fees.”
Review the HUD-1 Uniform Settlement Statement in the Closing Fees area of the wizard. Make any necessary corrections to the fees, then approve the closing fees.  An email will automatically be sent to the title company asking them to login and complete title fulfillment. 

5. Complete the eSign Borrower Disclosures process.
Initiate the eSign process by clicking on "eSign Borrower Disclosures" (Menu Item: More Tools 9) and verifying or entering the borrower(s) email addresses. Click the "Send e-Signature Request" button. The borrowers will receive three emails: one that the borrowers should reply to in order to validate their email addresses, one with a link to the eSignatures package along with the PIN required to access the eSignatures package, and one with the disclosures attached.

The borrower can now open the eSign package and read and sign the initial disclosures. Once the loan officer and all borrowers have finished signing the disclosures, a PDF version will be available from the Scanned Images section of DirectWare.

6. Order the Appraisal 
Appraisals can be ordered in three ways: (1) as part of the eSignature process, (2) by clicking the "Order Appraisal" link located in DirectWare (Menu Item: Processing Center 21), or (3) through the "Order Appraisal" link located in the "Vendors" tab.

7. Select Vendors — or Have Us Do It For You. 
Complete the vendor information on the Loan Submission form or mark on the form that you would like DMC to choose your vendors. You can also commit your vendors in DirectWare.

To commit vendors yourself, complete the Vendors tab in the Closing Doc Order Form portion of the wizard.  Here you can select your vendors. The Escrow and Title vendors are required BEFORE submitting the file to Underwriting.  The Hazard Insurance vendor for purchase loans does not have to be chosen before submission, but does have to be chosen before resubmission or closing.

8. Stack & Email Your Underwriting Submissions Package
Stack your underwriting submissions package according to "Print Conditions" (Menu Item: More Tools 7) and scan to a .PDF file.  Be sure to include the Loan Submission form in the file.  Email the package to helpmeupload@directcorp.com with the loan number in the subject line.

We'll Take It From Here
After you have followed the steps above, we will select or enter your vendor information as requested, upload and associate your conditions, and submit the loan to Underwriting for you. (Note: any conditions missing from the original package sent to HelpMeUpload will need to be manually uploaded by you.)

*     *     *     *     *     *     *     *     *     *     *     *     *     *     *     *     *

Alternatively . . .
You can upload and associate conditions yourself by either uploading individual images to their respective conditions or uploading a single file and then draging and droping images to their respective conditions. Click here for instructions.

*     *     *     *     *     *     *     *     *     *     *     *     *     *     *     *     *

Calyx Point

  1. Within Calyx Point, use the dropdown under "Lenders >> Direct Mortgage Wholesale". Log into DirectWare. Verify information. Click "Send to DirectWare".
  2. Once the import process has completed, a confirmation dialog box will appear with your new loan number. Click "Next".
  3. The Loan Choices landing page will appear.

Export From Encompass®

  1. On the Loan Pipeline, select the loan to be exported.
  2. Either select ePASS from the Action Panel and under the Service Providers|Underwriting section of the My ePASS homepage, select Fannie Mae DO for ePASS. Or, On the Services tab, select Underwriting. On the Underwriting panel, highlight Fannie Mae DO for ePASS and click on Submit.
  3. The Fannie Mae DO storefront will appear. Select Export Loan to Fannie Mae Format.
  4. The Save As panel will appear. From the Save In dropdown, select the desired location to which the file is to be saved. Enter an identifiable File Name (example – the borrower’s last name) and use the Save as type dropdown and select the desired format version (Version 3.2 is the default setting). Click on Save.
  5. The Incomplete Loan Application panel will appear. Either Print out the list of missing fields, stop the process, go back into the loan and enter data into the missing fields and then restart the process or simply select Continue if the data already entered is sufficient.
  6. A notification will appear stating that the file has been exported successfully to the selected location.
Source: Ellie Mae Knowledge Base Article #1966.

Upload a Fannie Mae File: Available in most loan origination systems such as Encompass®, Byte, or Genesis

  1. Export to a .fnm 3.2 (Fannie Mae) file.
  2. Log into DirectWare by entering your username and password into the login area in the upper right-hand portion of the homepage.
  3. Click on "File" >> "Create New Loan Application / Import" in the upper left-hand corner of screen.
  4. Under the section that says "Import New Loan from Fannie Mae Format" click "Browse".
  5. A new window will open. Click "Browse" Find and select the loan file on your computer. Click "Create".

DirectWare

  1. Log into DirectWare by entering your username and password into the login area in the upper right-hand portion of the homepage.
  2. Click on "File" >> "Create New Loan Application / Import" in the upper left-hand corner of screen.
  3. Enter Borrower's First and Last Name. Click "Add".
  4. Loan application appears.
  5. Click on each tab and complete the entire loan application.

Manual Submissions - Paper

Paper File
You may drop off the loan docs or mail to our office:
Direct Mortgage Corp.
Attn: Underwriting
6955 S. Union Park Center, Suite 540
Salt Lake City, Utah 84047

**We'll pay the postage. Call us for a FedEx number.**

Help - Phone or Email

Telephone
Call 800-924-3884 to talk with our Broker Support. A representative can walk you through the steps of registering and submitting a loan.
Email
Email brokersupport@directmortgagewholesale.com to send a message to Broker Support. A representative will respond in a timely manner.
Just Want to Price a Loan?
Live Loan Scenario
  1. Import and log into DirectWare.
  2. Complete the Submission Ready Wizard.
  3. Adjust parameters such as doc type in the "Loan Search Criteria"and click "Submit" at the bottom of the page to view different scenarios.
  4. You can view a breakdown of PI and PITI for different loan products by clicking on the respective payment.
Pre-qualifier Scenario
  1. Log into DirectWare.
  2. On the left of the screen will be a list of recent borrowers. The first option in the list says "Pre-qualifer Loan" in red text. Double-click it.
  3. Scroll down to the "Loan Search Criteria" area and enter your scenario criteria.
  4. Click "Submit".
  5. Your "accept" "pending" and "refer" loan choices will appear with the best loan options sorted to the top.
  6. Adjust parameters such as doc type and loan amount and click "Submit" at the bottom of the page to view different scenarios.
 
     Sign Up Now!

Loan Programs List
Find, Price & Lock Loan
Submit Loan
Become Approved Broker
Rates
FHA Calendar

Resources
Bulletins
29 Certified Processes
Underwriting
Blog
About Us
FAQ

 
 
 
Get answers now. Learn more about Direct Mortgage's online underwriting....
Employment
Join our team. Step into the future of mortgages....
 
Direct Mortgage, Corp. (NMLS ID 9612) is licensed or operating with a license exemption under the following names: AL, ID, NV, OR, WA: "Direct Mortgage Corp"; AZ, HI, LA, MI, MS, OK, SC, TN, VA: "Direct Mortgage, Corp."; AR, IN, MT, NC: "Direct Mortgage, Corp"; CA: "Direct Mortgage Wholesale Corp."; CO: "Direct Mortgage Corp dba Direct Mortgage Wholesale Corp"; FL: "Direct Mortgage Wholesale Corporation"; GA, NM, WY: "Direct Mortgage Corp."; IL: "Direct Mortgage Wholesale Corp"; OH: "Direct Mortgage Wholesale Corp (Direct Mortgage Corp.)"; TX: 1st Mortgages: "Direct Mortgage, Corp. dba Direct Loans Corp", 2nd Mortgages: "Direct Mortgage Corp dba Direct Loans Corp"; UT: "Direct Mortgage Corporation". Click for more licensing info.
You can view our NMLS consumer access page at
www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/9612

 
Sign Up Now!
 
 
Home | About Us | DirectWare® | Employment | Broker Signup | Licensing Info | Contact Us
©2008 Direct Mortgage Corp., All rights Reserved. | Terms of Use | Privacy Policy