Broker Guide to SunTrust Mortgage’s eMagic-hosted site

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Broker Guide to SunTrust Mortgage’s

eMagic-hosted site

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Agenda

• Benefits of using SunTrust’s eMagic site

• How to sign-up

• Ordering services (DU/CDU and LP)

• Editing and resubmitting a file

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Benefits of using SunTrust’s eMagic-hosted site

• Order DU (Desktop Underwriter) with CDU and LP.com (Loan Prospector) for conventional and government loans

• CDU (Custom Desktop Underwriter) allows the originators to receive CDU Findings that are customized for SunTrust’s products.

• Resubmit multiple times to AU

• Very cost-effective – originators are not charged a fee to use the site, they only pay for their credit report

• eMagic Customer Support Team here to help

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Do you have an existing login ID and password for eMagic?

Go to: www.emagic.com and click on “Sign up”

Click on “eMagic.com site sign up.”

If No...

Complete the form and click “Submit”

After your request is processed, you will receive emails from [email protected] with your login ID and a temporary password.

After you receive your eMagic login ID and password contact your SunTrust Account Executive to give you authorization.

If Yes…

Contact your SunTrust Account Executive to give you authorization and use your existing eMagic login ID and password.

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LP.com Setup InformationIn order to use LP.com Express, you must have a valid Freddie Mac TPO (third-party originator) number and password and have your TPO number associated with SunTrust Mortgage. The system will not place your order unless these steps are complete.

SunTrust Mortgage: Freddie Mac Seller/Servicer Number: 307705

To obtain your TPO number and password or to associate your existing TPO number with Lender’s Seller Servicer number:Please click the link below, select “online sign-up form,” and follow the instructions. Be sure to enter in the Seller/Servicer number shown above. http://www.loanprospector.com/signup/start.html

FHA USERS ONLY: To use LP.com for FHA loans, you must do a ‘reissue’ of credit already ordered. Freddie Mac – FHA with SunTrust Mortgage enables you to use these credit vendors to reissue credit: CBC, Equifax, First American CREDCO, Kroll Factual Data, and Land America Credit Services.

For information on working with one of the credit agencies listed, please visit: http://www.loanprospector.com/about/crc.html.

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Here is an example of Calyx and how to save/export file as a DU 3.2 format.

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Log into: www.emagic.com

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From the main menu click on the “Create/Upload Loan” tab and “Browse” for a loan to upload. Then click on the “Go” button next to “Go to Loan Manager.”

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From the Loan Manager page, click on ‘Actions’, ‘Send Loan to Lender Site’, and then select ‘SunTrust Mortgage’

Note: If SunTrust Mortgage’s site doesn’t launch, change pop-up blocker to allow this site.

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Ordering Services: Broker selects Automated Underwriting option and clicks “Continue.”

Example: DU Express with CDU (MGIC/MISC – Conventional)

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eMagic and SunTrust DU/LP Data entry screen. Ex: DU Express with CDU

If an ARM loan, select ARM, click “ARM Detail” and complete additional fields.

Continue…

Enter SunTrust Mortgage’s branch code here.

Select correct CDU/DU product type. Click the gold “Lender’s Extended Data” button.

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Continue…

IMPORTANT FIELD!!! Select the appropriate Loan Documentation Type

Additional CDU specific fields display by clicking the ‘Lenders Extended Data’ button. Complete as needed.

If the property is a condo, complete condo information here.

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Once all errors are corrected, option to “Submit Order” appears

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Click on the status link to view Findings and credit report.

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Example of a DU Findings report and credit report….

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Example of how to resubmit a file….. To make changes to the 1003, click on the “Go” button next to Loan App in the top left hand corner of the page.

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Click on the “Resubmit” button.

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eMagic Customer Support• eMagic Help Desk: 1-888-549-9322

– 7 AM to 7 PM CST

• eMagic Regional Sales Managers– Visit www.emagic.com to find your Sales Manager today!

• “theCenter” – A resource website that contains reference information– To access, go to www.emagic.com and click “theCenter” button.

Also available from eMagic or private label sites (‘Help’ button).• Examples of content information for you: LOS and DU error codes

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Submitting a Loan to SunTrust’s site

Brokers can upload loans to SunTrust’s eMagic site from many different Loan Origination Systems.

Go to http://thecenter.emagic.com for help documents for the different LOS’s

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Thank You!!