Print this pageCreate an eMagic loan by exporting your Genesis loan data and browsing for it at the site (eMagic.com and eMagic-hosted sites).You may also update loan data in Genesis with changes made on the site.
Export Your Loan Data
Use this option if you want to Browse for the file from an eMagic site.
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On the Genesis 2000 main screen (prior to opening your loan file), click Access - Fannie Mae - Export Fannie Mae Format 3.2 (or Export Fannie Mae Format 3.0).
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On the Export Fannie Mae Format screen:
Path will default to: C:\GENESIS\data\FNMA_WEB\EXPORT\
Check the box Ask for File Names
Check the box next to the loan you are exporting
Click Export
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Enter a file name and click OK.
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Main Menu > Upload Loan tab.
(Lender site: Main Menu > Upload/Key in New Loans tab.)
Click Browse.
Locate your saved loan file and click Open.
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Select an action in the drop-down menu and click Go.
Loan Data Formatting Tips
The following information contains helpful entry tips prior to submitting a loan. Be sure the entire loan has been entered before submission. Remember to Save Your Work!
Borrower and Co-Borrower Middle Initial - Do NOT enter a Borrower(s) Middle initial(s) into the system.
Entering Dates - All dates must be entered in a mm/dd/ccyy format. All three pieces of information (Month/Day/Century Year) are required for correct DU findings.
Entering ARM information:
- ARM Plan Code - If the Fannie Mae ARM Plan Code is known, please enter it in ARM Type field on Page 1 of the 1003.
- ARM Details - From the Forms drop-down, select Good Faith & Reg - Z. From the menu at the left side of the screen, choose Reg - Z. Then, choose the ARM Program Loan Plan and complete the Instrument details.
Borrower with multiple employers - If a borrower is currently employed at more than one job, go to the employment screen. Enter the secondary employment as ‘Prev/Other Employment’ and click the Current Employment box. On page 2 of the 1003, enter the monthly income as Other.
Entering Retirement Funds - Fannie Mae recommends entering Retirement Funds at 70% of total value in order to exclude early withdrawal penalties and taxes.
Entering Liabilities - On page 2 of the 1003, complete the liability section(s) for every debt. Enter the Creditor, Account Number, Balance, and Payment. Click the To be paid off checkbox if the loan will be paid off at closing.
Construction Perm Information - On page 3 of the the 1003, enter the liens to be refinanced and costs of alterations (if not included in the refinance) in Line b of the Details of Transactions.
Download Loan File and Import Data into Genesis
Update the original loan file in Genesis with any loan data changes from the site.
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Locate the desired loan on the site (eMagic.com or an eMagic-hosted site).
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Click the Download File icon.
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In Internet Explorer, the File Download box will appear. Click Save. (The downloaded file format will match the last file you uploaded - DU 3.2 or 3.0 data file format.)
The Save As dialog box will appear. Select the appropriate directory and click Save.
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Minimize the browser and open Genesis.
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On the Genesis 2000 main screen, click Access - Fannie Mae - Import Fannie Mae Format 3.0 or 3.2 (if available).
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On the Import Fannie Mae 3.0 screen, in the Type of Files box, enter *.dufile. To select the drive where your file is saved, to the right of Path of Import Files, click Browse.
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In the Choose folder box, click on the drive folder where you saved your file and click Select. (If you saved your file directly to the C:\ drive, simply click on (c:) and click Select.)
On the Import Fannie Mae Format 3.0 screen, click the checkbox to the left of the loan file you want to import.
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If you would like to overwrite your existing loan in Genesis, choose Overwrite matching loans and select Bor. Name and Prop. Addr. from the Loan Matching Rule drop-down list. Click OK to import your loan.
