Doc FAQ
Q. I am getting a warning notice when I run my loan that I may be subject to the high cost loan statute on the state level, what does this man?
A. The State Specific High Cost/ Predatory Loan Analysis is set to the points and fees test for HOEPA, plus an addition basic "APR test" and "points and fees" test for the state specific test. However, several states have additional requirements that may affect the loan i.e., loan amount, loan types, bona fide discount points, prepayment fees, yield spread premiums, "reasonable tangible benefit" Test, advance payments, financing of credit insurance, lending without homeownership counseling, modification or deferral fees, lending without repayment ability, mandatory arbitration, balloon payment, negative amortization, default interest, refinancing of government of nonprofit loan, payments to contractors, loan position, type of originator, local ordinances, etc. We recommend that you check with your compliance officer if you receive a warning when running this check.
Q. Can I make changes to the State Specific High Cost Analysis to fit my company needs?
A. Yes, our software allows the client to make adjustments to the calculator in order to accommodate states where they do business. Please contact our customer service department to get step by step assistance.
Q. How does the DocWin Software compare to Docs3D when creating loan documents?
A. DocWin is an in-house software program. The program is maintained and updated at the client’s location. (Usually by I.T. personnel) The program is designed to provide our clients with the power and flexibility specific to larger loan generating volumes.
Docs3D is an Internet based program. It is very similar to DocWin in screen appearance, lender and program selection. Documents are processed at Lender Support Systems and sent to the email address entered by the user as an attachment. One can access Web Docs 7/24 once they have a User Name and Password assigned to them. Compliance Updates, lenders and loan program are maintained at Lender Support Systems.
Q. How can I setup New and Existing Investor Setup/Loan Program Request?
A. We have numerous lenders available. One simple phone call or email request to our Document Support Department will get the process moving forward to fill your specific needs.
Q. Is there training available for DocWin?
A. The Document Support Department has knowledgeable technicians that can assist you in your training request. Generally, training sessions are scheduled when you first receive your software or new Web setup. In addition, we at Lender Support can also provide training upon request. Training guidelines are also listed in your Service Agreement.
Q. Can DocWin work with other programs to create loan documents?
A. DocWin can interface with Data Management Programs like Data-Trac and Prolender. Docwin can also interface with Origination Programs like Point, Contour, Genesis and Portellus.