REMN Wholesale is pleased to announce that effective Wednesday, October 30 the REMN-generated initial disclosure package will include all Federal and State disclosures.
Here are some important details about this feature:
- This is available for brokers that have transitioned over to the Hub, REMN’s new portal.
- When brokers select REMN to prepare their initial disclosure package, they will no longer need to send out a separate disclosure package to their borrowers as previously required. REMN’s initial disclosure package is now inclusive of Federal and State disclosures.
- There is no process change for brokers in the Hub. Brokers will still submit a request for disclosures as per current process.
- Broker needs to ensure all pertinent loan data fields are completed in the Hub or a 3.2 is uploaded. The loan data information in the Hub will transmit over to complete the 1003.
- REMN will send the Loan Officer of record the 1003 and other required disclosures to e-sign simultaneously when sending the borrower the initial disclosure package.
- The broker is still responsible for providing product-specific disclosures.
- The broker will no longer need to provide a signed 1003 upfront, as this is now included in the REMN initial disclosure package. All other documents required for initial disclosure generation are still required.
- Brokers can find training material at https://remnwholesale.zendesk.com/hc/en-us/categories/360001941514-Training-Materials.
Please contact your Account Executive with any questions.