After importing or entering fees and charges into DocMagic to process a predisclosure loan package, have you ever wished that you had the ability to view page 2 of the Good Faith Estimate (GFE) so that you could see how such fees/charges are aggregated into the various Blocks on the GFE without having to actually process a DocMagic predisclosure package and print the GFE?  Wish no more. . . DocMagic, Inc. is pleased to report that a new tab, titled "GFE," has been added recently to the DocMagic application.  This new GFE tab is a snapshot of page 2 of the GFE.  That is, the values that display in the "GFE" screen will mirror the values that populate onto the printed GFE.

Previously, if a DocMagic user wanted to see how the fees and charges imported or entered into DocMagic would populate onto page 2 of the GFE, the user would have to process their loan worksheet first.   With the new GFE tab, a DocMagic user will no longer need to process the loan worksheet to view the GFE in a predisclosure loan package and incur a processing fee; the user will now be able to view the GFE anytime from within the DocMagic application.  This new feature enables the DocMagic user to view which fees/charges were captured in the various GFE blocks, confirm whether page 2 displays as expected, and, if not, to immediately make the necessary changes in the "Charges/Fees/Premiums" screen of DocMagic.

We have also removed the "GFE Tradeoff Table" link that was located at the bottom of the screen in the HUD-1 tab and moved it to the GFE tab.  It made sense to "make the move" as the Tradeoff Table is found on page 3 of the GFE.  However, instead of having a link inside the GFE tab, the Table itself will now be displayed inside the GFE screen.  The values entered in this Table will populate accordingly on page 3 of the GFE.  For more information on the GFE Tradeoff Table and how it works, please see our article here.

Please note that if you intend to process a pre-closing or closing package, you should ignore the GFE tab as it will not be applicable to these package types.  If you have any questions concerning any of the above information, please contact DocMagic's Customer Service Department, at (800) 649-1362.