Generating a CD & Pre-Closing Package
Once your loan has moved into "Approved w/ Conditions" status you will see the options for Closing Disclosure & Pre-Closing Package in DocMagic dropdown in the "Disclosure Forms"tab.
- To get started click the "COC/Edit Loan" button at the top left of the screen
- Select "Edit Without COC"
- Click the "Start Editing" button
- Now you can make any edits you need to get the fees and contacts associated with the loan up to date.
- For purchase transactions. you will need to add the realtor contacts and sellers as business contacts in the "Setup & Contacts" tab
- Go to the "Review Fees" tab to add or edit any fees
- Add any payees by hovering over the fee line and clicking "Add Paid To"
- You can add fees by hovering over the section header and clicking the "+Fee" button
- You can adjust your prepaids and escrows by clicking the "days" or "Months" text on the right side of the fee listed in sections F & G.
- Once you've made all of your edits click on "Disclosure Forms" tab
- This will open up a new set of tabs (shown below). Go through each section to make sure all the information has been entered.
- In the "CD Info" tab you will be able to take the business contacts that you entered in the "Setup & Contacts" tab and add them to the business contacts section of the "CD Info" tab.
- Once you've updated the information tabs within "Disclosure Forms" you can select "Disclosure Packages"
- Select either "Closing Disclosure" or "Pre-Closing Package"
- Click "Generate Package"
- Review any audit findings before generating docs.
- Once you're ready click "Generate Doc Package"
- You will see a pop-up letting you know that you will be charged according the agreement you have with DocMagic.
- Click the "Generate Package" button
Generating a "Pre-Closing Package" would work exactly the same way. You would select "Pre-Closing Package" and go through the same step as mentioned above.