IBIS RMO Users Guide

IBIS RMO is a universal online reverse mortgage origination tool. It is the best independent software available in the industry for originating reverse mortgage loans using traditional HUD HECM, Fannie Mae Home Keeper, LIBOR-based HECM and, Fixed Rate and proprietary jumbo loan products. Any type of loan can be quickly compared side-by-side with various margins, service fees and loan fees. IBIS RMO was the first software to match the AARP’s “Model Specifications for Analyzing and Comparing Reverse Mortgages.” It allows you to manage your clients as well as produce, print and email quick quote, detailed proposal, application and closing packages – all through an easy-to-use web-based system. It also allows you to manage your users via a hierarchical grouping of users with various authorities like user administrator, supervisor, and Tier 1-3 privileges.

What can IBIS RMO Do for Me?

Here are some of the things IBIS RMO can do for you right out of the box:

Produce Quick Quotes showing various products side-by-side
Produce detailed proposals
Produce application packages with state-specific disclosures
Produce comprehensive closing packages
Allow you to manage your prospects and clients
Provide user administrators with a centralized web-based system for managing users
Provide a repository to store your client records and loan documents

IBIS RMO Work flow

Starting IBIS RMO

Open the Internet Explorer and enter URL assigned to you.

The browser will display a page that prompts you to sign-in into IBIS RMO with a valid user id and a password.

Logging In

On the screen below, enter your User-id and Password and click on the Submit button or press the <Enter> key.

The following page will be displayed after a successful log in.

In the following sections we will describe some of the key user interface concepts and features.

Navigating IBIS RMO

You can navigate IBIS RMO via:

· Menu Bar

· Quick Links and,

· Smart Buttons

Menu Bar

The Menu Bar also has main tabs/ and a sub-menu with links for various pages of IBIS RMO. The Menu Bar is dynamic. As the client’s record goes through different processes, the Menu Bar tabs and links will adjust accordingly.

The client record goes through three main processes – RMQuote, RMApp and RMClose as depicted in the workflow earlier. The status of the application reflects the process the client record is in.

RMQuote tab as shown below provides menu links related to quick quote process.

Quick Quote lets you create a quick quote for a new client.
Scenarios let you set up the line-of-credit (LOC) draws.
Schedule gives the amortization schedule that projects the loan into future based on payment plan and any LOC draws set up.
Comparison gives an AARP approved side-by-side comparison of various loan programs.
HUD1 lets you setup the 3rd party closing costs for the chosen program.
Estimates gives you the side-by-side comparison of various loan programs.
Rates lets you review/update the rates associated with each client record
Client Info lets you enter/edit the Client’s Information.
Print lets you setup various print packages and build them.

RMApp tab as shown below provides menu links related to the application process.

App1009 lets you make entries to the Form 1009.
Addendum lets you make entries to the 2900 Addendum form.
HUD1
GFE shows the Good Faith Estimate.
Lock shows the Principal limit lock summary.
Refi lets you setup a HECM refinance.
Estimates
Rates
Client Info
Print
More displays additional links in a dropdown menu.

RMProcess tab as shown below provides menu links related to loan processing.

Processing lets the processor record processing information related to the client’s application.
App1009
Addendum
HUD1
Estimates
Rates
Client Info
Print

RMClose tab as shown below provides menu links related to the closing process.

Closing Info – starts a series of five pages where the closer can input closing information.
Endorse lets the closer fill-out the direct endorsement form information.
App1009
Addendum
HUD1
Estimates
Client Info
Settings
Print

RMClients tab as shown below provides menu links related to managing your clients.

Open lets you open an existing client.
Status lets you change the status of the open client.
Notes lets you keep notes about the client.
Re-Assign lets you reassign clients to the different users.
DocBin lets you view, print or email the generated print packages.
Print

RMDocs tab as shown below provides menu links related to document management.

DocBin lets you view, delete, print or email the generated print packages.
Print

RMSettings tab as shown below provides menu links related to settings and template information.

Lender Info lets you enter the Lender Information that will be used on documents.
Product Settings lets you setup the default product settings such as product names, margins, service fees, adjusting periods etc.
Providers lets you define the affiliated providers for application disclosure.
State Specific lets you define information for state specific disclosures.
State Licenses lets you define state specific licenses you have.
Servicing lets you define information for servicing discosures.

RMAdmin tab as shown below provide menu links related to user management.

Home gives you Quick tips on all the other links in RMAdmin.
Users let you setup users in an organization.
Organizations lets you setup organizations and sub-organizations.
Assign Templates lets you assign RMSettings templates to users.
Send Alert lets you send alerts to all the users in your organizations.
Help gives you details on how to setup users and organizations.

Please refer to the RMO- Admin guide for more details on how to setup users, organizations and assign the user templates.

Quick Links

The Quick Links shown above appear in the top right corner of each page. They let you do the following operations.

New lets you start a Quick Quote for a new client.
Open lets you open an existing client.
Save lets you all the changes made to the existing client.
Status lets you change the status of the client (very important).
Products let you select different products for display in Quick Quote, Estimate and Comparison pages.
Notes let you record notes about the client.

Smart Buttons

These buttons appear in the body of the page. They are placed in the page body to make navigation smoother for the user. Shown below is an example of the smart buttons on the Quick Quote page.

Quick Print lets you generate a printable quick quote consisting of estimates and amortization schedule.

Scenarios takes you to the Scenarios page. For more details on Scenarios, please refer the Scenarios section.

Client Info takes you to the Client Info page. For more details on Client Info page, please refer to the Client Info section.

Estimates takes you to the Estimate page to do a side-by-side comparison of the products selected. For more details refer to the Estimates section.

First Time Setup – User Information

If you are using IBIS RMO for the first time, click on the RMSettings tab from the Menu Bar and then click on the Lender Info link as shown in the picture below.

The following page will be displayed.

Here you enter information about you. This information will be used on the documents you produce for the client. If you are an employee of the Sponsor, clicking the Same As Sponsor button will transfer in the sponsor's info. Often user's address is different than that of their employer.

Enter all the information and click ‘Save Lender Information’ button at the bottom of the page. This will save the Lender Information into the database. You can edit this information any time via the Lender Info menu link.

IBIS RMO will use this information for all the client records you create.

First Time Setup – Product Settings

Click on the Product Settings menu link of the RMSettings menu tab. The following screen will be displayed.

Product settings consist of:

Product Name appears on the loan comparisons and amortization schedule

Product Description appears on the loan comparisons and amortization schedule

Adjusting Period

Loan Fee Percent -- The loan fee percent is based on Max. Claim (MC) amount or the Principal Limit (PL)

Loan Fee Minimum

Loan Fee Maximum

Monthly Service Fee

Margin

The above settings will be used as defaults when you create a new client in IBIS RMO. You are allowed to override the above for each client, if needed.

Update the products settings as per your requirement and click on Save button.

First Time Setup – Product Selection for Display

Click on the Products Link from the Quick Links (top right corner) as shown in the above picture. The following screen will be displayed. The names of the products will depend on what you called them in the Product Settings earlier.

Select the Loan products to view in the order of display in the Quick Quote page, the Estimates page and the Comparison page. After entering the information, click on the Save as Defaults button at the bottom of the screen. This will save the selected order of the products as defaults for all your new clients.

You can visit this page any time to view/change the product selection for a given client. You can alter the product selection for a given client by clicking on the Update Client with Above button. To change the selection back to default settings, use the Update Clients with Default button on the bottom of the screen.

At this point you will have defined the display order of the different Loan Products available and also entered the Lender Information.

Starting a New Client

To start a new client, click on the New quick link. You will see the quick quote page. For details on quick quote, please refer to the RMQuote chapter.

Saving a Client

All the changes to the client record can be saved via the Save quick link or the Save smart button if it is provided on the page. In order to save a new client record, you must enter the borrower’s name. As you navigate IBIS RMO, your changes are captured in memory. When you save the client, these in-memory changes are recorded in the IBIS RMO database.

Opening a Saved Client

There are 2 ways to access a saved client – Using the Open quick link or by clicking on the RMClients menu tab. The following screen will be displayed.

Click on the borrower name link to load the client record.

If the list is too long, you can also filter it by entering define the filter criterion. The filter option is available at the bottom of the client list. Select the filtering criterion from the dropdown list, enter the filter text in the input box and press the ENTER key or click on the Go button.

You can also filter the list by the client status. To list clients that are in Ready4Close status, select the status from the dropdown list and click on the Go button.

Getting a Brief Summary of the Client

From any page, you can get a brief summary of the open client by clicking on the client name link on the top right corner as shown in the following picture.

The following page will be displayed on top of the screen you currently are accessing.

Click on the client name link again, to turn off the Brief summary.

Changing Client Status

The client status is an important milestone in the loan process. Each client record can have one of the status indicators below:

Quote: This is the initial status of every client record.

Ready4App: In order to start the Application Process, change the status of the client from ‘Quote’ to ‘Ready4App’. As soon as the status is changed, the RMApp menu tab will appear in the Menu Bar.

Locked4App: In this status, only the user locking the client record can update it. Only other users who are authorized to view the client record (like supervisors) can open and view the client but cannot save any updates to it except the user administrator.

Ready4Close: In order to start the Closing Process, change the status of the client from “Ready4App” to “Ready4Close”. As soon as the status is changed, two new menu tabs - RMProcess’ and RMClose will appear in the Menu Bar.

Locked4Close: In this status, only the user locking the client record can update it.

Closed: For record keeping purpose, we encourage all users to mark the client record as closed any time after the loan is approved and closed. In this status, the client record also gets automatically locked.

Generating and Printing Documents

The print packages in IBIS RMO are of the following type:

Quick Quote Package

Proposal Package

Application Package

Closing Package

Additional Lender Closing Pages

Click on the Print menu link to setup a print package. You will be presented with the following screen.

You can select a package type by simply clicking on the radio button next to it. Each package type consists of different sections that you can include in your package.

After selecting the options, click on Build Package button. IBIS RMO will start assembling and building the print package in the background. You can continue to work while this is going on. You can check the status of the print package any time by clicking on the RMDocs menu. All of your print packages will be listed as follows in the document bin.

Here you can view the package, email the package or delete the documents from the print queue. You can also filter the document by Borrower’s first or last name.

If the status shows ‘In progress’, the package is still getting created in the background. You may have to click on the Refresh link to see the updated status. Please wait for the Package status to be ‘Ready’.

If the package status is ‘Ready’, click on View icon to view the package on-line. To email, click on Email icon and the following screen will appear.

Enter To email address and click on Send Email button. Your email will be send to all the recipients you entered.