Print this pageAccess TIL
Note: You must be working in eMagic (eMagic.com) to access the TIL.
From the Loan Folder or Loan App, select Truth in Lending from the dropdown menu in the top left corner of the screen.
TIL Data Entry
The TIL data entry page is organized by two tabbed sections.
- TIL Data Entry
The first tab is where you complete data entry for fields specific to the TIL. For data consistency, certain fields, indicated by an asterisk, are auto-populated with information from the Loan App, ezApp, and the Good Faith Estimate. In order to change these fields, you must first modify the original document that contains these fields.
The remaining data entry fields, based on the specific loan scenario, must be entered accurately in order to render the APR calculation and payment schedule effectively. The sections that drive the payment schedule adjustments are Mortgage Insurance, Adjustable Rate and Payment Adjustments, and Buydown Mortgages.
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Enter the necessary fields if the loan requires mortgage insurance in order to include it in the calculation.
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Enter the necessary fields if the loan is an ARM loan. The margin percentage is required.
Enter at least the first rate and term in order to identify the loan as a Buydown and to include it in the calculation.
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- APR/Payment Schedule
This tab calculates the information gathered on the TIL Data Entry into the APR and Payment Schedule. If data is inaccurate or missing, an alert message will display. Changes must be made prior to opening the tab.
Additional data entry fields are collected on this tab for completion of the printable PDF version of the TIL.
- Section 32
This document is rendered in addition to the TIL and used to disclose that the loan transaction is considered a high-cost mortgage. The Section 32 disclaimer is only required when the loan exceeds high-cost loan tolerances.
The following fields on the TIL Data Entry page are used to populate the Section 32.
View/Print the TIL and Section 32
WARNING: If you have not completed the TIL Data Entry prior to viewing and/or printing the document itself, the information will not be accurate.
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From the Loan Folder or TIL data entry screen, select View/Print TIL from the Loan Documents menu in the top right corner of the screen.
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Select whether to print both the TIL and the Section 32 or only the TIL. In most cases, you will select only the TIL, since the Section 32 is required only when the loan exceeds high-cost loan tolerances. Ensure your printer settings are set for legal paper and click View/Print TIL.
Use the toolbar to select Print and click OK.
Add to Trio Folder
For Trio users: on the Loan Folder page, under Loan Folder Actions, click "Add TIL" in the Trio Actions menu. Your institution must be set up for Trio, and the loan must already have a Trio folder.
Note: The Section 32 must be faxed or uploaded to the Trio Folder.
