1. REVERSE MORTGAGE ORIGINATOR WORKFLOW GUIDE
AT BAY EQUITY 1

2. How do I create a Reverse loan in Encompass?
Open Encompass, Login
From Prospects folder, click add new loan
Select Reverse Template
New Reverse Loan Created

3. How can I track the status my Reverse loan in Encompass?
The general workflow is as follows:
Pre-qual
Approval to proceed.
You will be to see processing status:
Counseling pending.
Counseling completed.
Pending Conditions.
Appraisal ordered.
Appraisal completed.
Underwriting
CTC Expected
Funding
Completion

4. What are the steps to start a Reverse pre-qual?
Select Reverse Pre-qual form.
Fill out entirely.
Finish the Pre-qual to submit it automatically to the Reverse Mortgage Division.
notification will be automatically sent to both the originator and the Reverse team.
Expected response from the Reverse Team is 24 hours or less.
Once pre-qual is complete, system will move it from prospects to reverse folder.

5. What does the pre-qual email to the Reverse Team look like?

6. Where will the originator find the Proposal?
Proposal will be uploaded to a placeholder in the efolder called “9002-Reverse Mortgage Proposal”
LO can upload current HECM documentation to “9003 – Current Reverse / HECM Documentation” if available.
Or to (9004 – Reverse Misc.) for any additional supporting documentation.

7. Loan remains in “Processing Expected”
What stage will the loan be in when waiting for the borrower to accept?
Loan remains in “Processing Expected”
Loan Officer will be updated on processing status:
Counseling pending.
Counseling completed.
Pending Conditions.
Appraisal ordered.
Appraisal completed.
Status can be view via Pipeline
Conversation Log will have details.

8. How can the rest of the Reverse loan status be viewed?
As loan is Underwritten by 3rd party statuses will be updated from
Underwriting Expected to Underwriting Finished
Pending Conditions
CTC expected moves to CTC finished
Funding Expected moves to Funding finished.
Then moves to Completion.
Loan stays in the Reverse folder.
Any loans that fund in 2015 are added to the President Club race in real-time, as soon as Reverse Mortgage team enters data.

9. REVERSE MORTGAGE ORIGINATOR WORKFLOW GUIDE
AT BAY EQUITY 9