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Sponsoring Wholesale Lender Features

This document provides information on certain features available to wholesale lenders using Desktop Underwriter® (DU®).

You may scroll through this document or click a link to be taken to the information for the specified topic:

Release Loan Back to Originator

There are two reasons you might need to release a loan casefile back to an originator you sponsor. One is that the originator submitted the loan casefile as Final and needs to make an update to the loan application data. The originator is not able to make changes to the loan application data after they submit it as Final. If you release the loan casefile back to the originator, they will be able to update the loan application data and then resubmit the loan casefile back to you.

Another is that the originator wants to submit the loan casefile to a different sponsoring lender and you have not granted the originator the reassign loan permission. When an originator you sponsor submits a loan casefile to you all resubmissions will continue to go through your institution unless it is released. If you release the loan casefile back to the originator, they will have the option to select a different sponsoring lender.

You can release a loan casefile back to an originator you sponsor regardless of the Submission Type (Interim or Final). When you release a loan casefile, the Underwriting Findings report will no longer be available to the originator, and the loan casefile will be removed from your Loan List.

The following steps show you how to use the Release Loan feature.

Note: You may grant one or more of your originators the ability to self-release loan casefiles submitted as Interim within the Reassign Loan Permissions
section of the Lender Admin Tool.

From theLoanList, retrieve the loan casefile that you want to release back to the originator.
At the top of theLoanReview screen, in theLoanActions drop-down tab, clickReleaseLoan.

TheReleaseLoantoOriginator screen will be displayed. ClickRelease.

You will be returned to the Loan List. The loan casefile will no longer be in your Loan List.

Related Job Aid
Refer to the Loan List Search & Loan Status job aid, for detailed information about the Submission Type.

Manage Originator Sponsorships

The Technology Manager application is used to manage your originator sponsorships. For additional information, refer to the following job aid:

Managing Originators' Sponsorships

Grant Reassign Loan Permissions

The Lender Admin Tool is used to grant reassign loan permissions to one or more of the originators you sponsor. For additional information, refer to the following job aid:

Admin Tool for Sponsoring Wholesale Lenders