REVERSE Mortgages

When inputting a reverse mortgage into Encompass you will complete the following

Make sure your loan template set selected is Brokered so that your milestones look like this

Complete the Following Information

Borrower Summary of Origination - All borrower information (Name, DOB, Social, Contact Info)

If Credit is needed prior to moving the loan to reverse vision you can pull the credit report in Encompass.

Subject Property Information - ALL

Loan Amount

You should not complete the estimated value or income fields as you will not be triggering RESPA.  

You will also make sure your loan is in the REVERSE Folder. 

All of the remaining functions should be performed in Reverse Vision.  WE only need a shell file for audit purposes.