Table of Contents
Simple Scenario Builder
General
Who has access to Scenario Builder?
Sales team members and processors!
Can I create a purchase scenario and then switch it to a refinance scenario?
No. Scenario Builder will not allow you to create both purchase and refinance scenarios under the same loan number
I'm hitting an edit. What should I do?
Click the down arrow to reveal the details about the edit and how to fix it.
Can I only run MI quotes in LoanHub/MyKey Online App?
You can actually run MI quotes in Scenario Builder! Just access Scenario Builder for your file, request an automated MI quote where you would typically type in the MI coverage, and select the MI company to accurately populate MI costs into your Conventional scenarios.
How do I update my signature in Scenario Builder?
Please reach out to MAsupport@guildmortgage.net for them to make any updates!
Expanded Scenario Builder
General
Why would I use Expanded Scenarios?
You can use Expanded Scenario Builder to restructure a loan that’s in LoanHub/MyKey Online App, run AUS, and then push the new scenario back to LoanHub/MyKey Online App. You can also use Expanded Scenarios in the prequalifying phase in order to show your customers options that are more complex than Simple Scenarios can handle.
Can I use TWN or AccountChek in Expanded Scenarios?
No.
Can I pull credit, generate MI quotes, and run AUS in Expanded Scenarios?
Yes.
I noticed that each Expanded Scenario gets its own loan number. If update my parent LoanHub/MyKey Online App file with an expanded scenario, will the loan number of the parent LoanHub/MyKey Online App file change?
No. The 7000 loan numbers are only associated with expanded scenarios.
What are some best practices?
Name your scenarios! That way, when the email goes to the processor requesting them to update LoanHub/MyKey Online App with a scenario, they’ll know which one to pick.
Credit Reports
If you have a credit report in the LoanHub/MyKey Online App file, will that same credit report be in the Expanded Scenario?
No. You’ll need to reissue the credit report into the Expanded Scenario “7000 screens.”
If I pull a credit report in Expanded Scenario, then push that scenario into the LoanHub/MyKey Online App, will the credit report be pushed into the LoanHub/MyKey Online App file as well?
No. You’ll need to reissue that credit report into your LoanHub/MyKey Online App file.
Will documents such as credit reports and AUS findings push into AIQ?
Yes. Documents will push to the “parent” AIQ folder.
Second Liens
If my LoanHub/MyKey Online App loan has a second lien, and I push an Expanded Scenario to LoanHub/MyKey Online App that does NOT have a second lien, will the second lien be deleted out of my file?
No. You’ll still have to delete the unwanted second lien.
If my LoanHub/MyKey Online App loan does NOT have a second lien, and I push an Expanded Scenario that DOES have a second lien into LoanHub/MyKey Online App, will a second lien be added to the file?
Yes.
RESPA
If I have some of the RESPA/TILA “six pieces of information” in my LoanHub/MyKey Online App file, and I add the remaining 6 pieces of information to a Simple or Expanded Scenario, will I trigger RESPA?
Yes. RESPA/TILA items that are in Scenario Builder will be pushed automatically into the live LoanHub/MyKey Online App loan.
What data is pushed automatically from Simple or Expanded Scenarios into the parent LoanHub/MyKey Online App file?
Only the 6 data points that trigger RESPA/TILA. (Name, social, loan amount, subject property address, income, estimated property value)
Version History
I see I now have “Version Histories.” What are those?
Version histories displays scenarios that have been pushed into LoanHub/MyKey Online App previously.
Why would I use a Version History?
Let’s say you update the LoanHub/MyKey Online App file with a scenario in order to restructure the loan. Later you realize the new scenario isn’t going to work, and you want to revert back to the way the loan was previously structured. You can update the LoanHub/MyKey Online App with an earlier version from Version History.
Please reach out to the Training Help Sales desk with additional questions!