storyboard for loan production isimulationstoryboard for loan production isimulation page 1 at a...

Storyboard for Loan Production iSimulation


AT A GLANCE

DESIGNER Donya Tucker REVISION DATE: 12/16/2015 Story Size: (720 x 405) 16:9 Player Skin: Dev choice‐based on theme Player Tabs: Resources (link to task aids) STORY/PREMISE This simulation will be used in the workshop. Participants will experience first‐hand each role in the loan originations process (Originations, Processing, Underwriting, and Closing) by completing various tasks on a loan as it moves through Originating to Closing. The facilitator will have content and discussions between roles, so while we need to move them through a particular sequence, there should be a <STOP> between roles that takes them back to the main menu. This will pause the course, and allow the facilitator to provide set‐up for the other stages. INTERACTION MAP



RESOURCES TO BUILD Resource Type Resource Name Location NotesPractice Sim Completing borrower tab in LoanSpan

2.2

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Users will also have task aid. While these sims are guided, I only want tips to appear if user is lost or needs it. Let’s make them use their deductive reasoning skills.

Practice Sim Ordering Credit Report

2.3

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Practice Sim Completing Finale Script

2.4

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SCENE: 1 MAIN SLIDE ID: 1.1 SLIDE NAME: Title ANIMATION: MOCK‐UP/LAYOUT:

NAVIGATION: Object: Animation: Trigger: Action: 1. Timeline ends

1. Advance to next slide

On‐screen Text:

On‐screen Media: Music in background

DEVELOPER NOTES: Use backdrop of ABC. Can be outside of building or inside building. Since the user will be playing a role of a ABC employee, this will help w/the immersion.



SCENE: 1 MAIN SLIDE ID: 1.2 SLIDE NAME: Meet Your Borrowers ANIMATION: MOCK‐UP/LAYOUT:

NAVIGATION: Object: Animation: Trigger: Action: 1. Timeline ends 1. Advance to next slide

On‐screen Text:

On‐screen Media: • Family photo • house • Music and sound effects

– dev’s choice NARRATION: Zeus and Zoe Zinn are ready to make a move. They have outgrown their 2 bedroom apartment, and have decided to purchase their first home in Zanesville, Ohio. They found the perfect home at 555 Zunbar Street. With 4 bedrooms and 2 baths, it’s the perfect size for this active family. Zeus has earmarked the bonus room for his Zippo lighter collection. When they had kids, he had to give up his “showcase” room. He’s ready to display once again. He’s envisioning glass shelves, recessed lighting, and placards with details explaining each lighter. Zoe, a Zumba instructor, will have some work out space and she likes the kitchen. Zeus is also pleased to have his own garage to work on his Zamboni project. He manages a Zamboni repair shop, and works on his own machine in his spare time. He’s created a miniature version and plans to patent it and sell it commercially. The Kids, Zedlin and Zolah, are also ready for the move. They’ll each have their own room, and Zoe has promised they can decorate it however they’d like. Zolah has been looking at zebra décor in her mom’s magazines; she’s almost ready to start her own Pinterest board.

DEVELOPER NOTES: This slide sets up the scenario (intro family). Show image of family and of the house they are buying.



Zedlin has outgrown his bunk bed and is just excited to have plenty of space to himself. He’s been asking Zoe and Zeus for a dog, and he thinks they might finally say yes now that they have a fenced in backyard, complete with a play set for him and Zolah. The Zinns are anxious to move into their new home, and while they have a choice of many lenders in Zanesville, they have selected PHH to begin their mortgage lending journey….and that’s where you come in….



SCENE: 1 MAIN SLIDE ID: 1.3 SLIDE NAME: Recall ANIMATION: MOCK‐UP/LAYOUT:

NAVIGATION: Object: Animation: Trigger: Action: 1. Timeline ends


On‐screen Text:

On‐screen Media: Music in background

NARRATION: Loan production is the creation of new mortgage loans. It begins with the mortgage application and ends at closing, when a borrower signs a mortgage pledging the real estate property as security for the debt. There are four major stages of loan production: originations, processing, underwriting and closing. In this simulation, you will play the role of each key player completing various tasks to register the loan, prepare the loan for underwriting review, render the loan decision, prepare the loan for closing and close the loan.

DEVELOPER NOTES: This slide is meant to set up the purpose of the simulation. Use images, rather than text to convey these simple messages. This is total recall to the user. He has been exposed to this process in previous eLearning lessons.

register the loanprepare the loan for underwriting

review

render the loan decision

prepare the loan for closingclose the loan



SCENE: 1 MAIN SLIDE ID: 1.4 SLIDE NAME: STAGES MENU ANIMATION: MOCK‐UP/LAYOUT:

NAVIGATION: Object: Animation: Trigger: Action: Arrow Stages

blink or flash—something to draw attention to that area

show hidden vs unhidden

1. Stage 1 ‐ Originating

1. Advance to 2.1

On‐screen Text: Welcome to the PHH Originating a Loan Simulator Click here to begin

On‐screen Media: Music in background Sound effect

NARRATION: Complete a series of tasks within each stage to unlock the next stage. Finish all stages to complete the simulation and obtain mastery of the loan production process. {add sound effect, like Ta‐da, or applause when this line is read}

DEVELOPER NOTES: Create a game‐like menu w/5 stages. Each stage has a series of tasks w/in it. First stage should be unlocked; all others locked. Stages unlock as user completes previous stage. Provide visual cue to Stage 1 and on screen text to advise user to click stage 1 to begin. Use animation to show users the difference between a locked stage and an unlocked stage; sync w/audio.



SCENE: 2 Registering a Loan SLIDE ID: 2.1 SLIDE NAME: Registering a Loan Introduction ANIMATION: MOCK‐UP/LAYOUT:

NAVIGATION:

Object: Animation: Trigger: Action: 1. Timeline ends 1. Advance to next slide

On‐screen Text: To complete this stage, you must: • Complete borrower tab in

LoanSpan • Order Credit Report • Complete Finale Script in

LoanSpan

On‐screen Media: • Family photo • house • Music and sound effects

– dev’s choice

NARRATION: As a mortgage loan originator, your primary goal is to secure a completed loan application from the Zinn family and begin the process of gathering supporting loan documentation to register the loan. To complete this stage, you must complete the borrower tab with Zeus and Zoe’s information, order their credit report, and complete the Finale script.

DEVELOPER NOTES: This is a quick transition slide. It introduces the user to the role. Loan Originator and to the three tasks s/he will perform during this stage of the simulation.



SCENE: 2 Registering a Loan SLIDE ID: 2.2 SLIDE NAME: Set Up Task 1 ANIMATION: MOCK‐UP/LAYOUT:

NAVIGATION: Object: Animation: Trigger: Action: 1. Begin

2. Simulation complete

1. Launch Sim 2. Advance to slide 2.3

On‐screen Text: •

On‐screen Media: •

NARRATION: In most cases, you will complete the mortgage application (the 1003) with the borrower on the phone. The application is lengthy and includes a lot of information about the borrower and the subject property. LoanSpan groups the application into various tabs. Someone has already created the lead and started the Zinn application for us, so let’s pick up where they left off. Click “Begin” and follow along as I guide you through completing the borrower tab in LoanSpan.

DEVELOPER NOTES: This slide is a transition slide. It allows the user to have full control over when he is ready to begin. See attached: Completing the borrower tab in LoanSpan for specific steps and details on this simulation.

�� After user completes sim, advance to slide 2.3






1. Launch sim 2. Advance to 2.4 On‐screen Text:

On‐screen Media:

NARRATION: Excellent job completing the borrower tab in LoanSpan. LoanSpan has a simplified interface and is pretty easy to navigate. Another tab in LoanSpan is the Credit tab. A borrower must have decent credit to qualify for a mortgage loan. As a mortgage loan originator, you are responsible for ordering the credit report. Zeus and Zoe have given you permission to pull their credit. Click “Begin” and follow along as I guide you through ordering the credit report in LoanSpan.

DEVELOPER NOTES: This slide is merely a transition slide. It allows the user to have full control over when he is ready to begin. See attached: Ordering a Credit Report for steps and specific details on this simulation.

�� After user completes sim, advance to slide 2.4




NAVIGATION: Object: Animation: Trigger: Action: Stage 1 complete 1. Begin


1. Launch sim 2. Return to menu On‐screen Text:

On‐screen Media:

NARRATION: Excellent job ordering the credit report. The Zinns have decent credit. That’s great news. They are one step closer to getting their house. We have completed the application (the 1003) in LoanSpan and are ready to register the loan. Click “Begin” and follow along as I guide you completing the Finale Script in LoanSpan.

DEVELOPER NOTES: This slide is merely a transition slide. It allows the user to have full control over when he is ready to begin. See attached: Completing the Finale Script for steps and specific details on this simulation.

�� After user completes sim, advance to slide 1.4 and unlock the next stage.



SCENE: 3 Preparing the Loan for Underwriting SLIDE ID: 3.1 SLIDE NAME: Preparing the Loan for UW Intro ANIMATION: MOCK‐UP/LAYOUT:

NAVIGATION: Object: Animation: Trigger: Action: 1. Timelines ends


On‐screen Text: Collect & review docs Submit to underwriting Locate contact info Open bank statement Submit task

On‐screen Media: Documents Triggering processes

NARRATION: Excellent job registering the loan. You have completed the first stage of this simulation. <sound effect> Once the loan is registered in LoanSpan, it drops into CA$H triggering several other processes and assignment to a loan processor. As a loan processor, your job is to conduct an initial review of the loan file, collect and review supporting documentation for the loan application and prepare and submit the completed loan package to underwriting for approval. There are many tasks involved in preparing the loan for underwriting and you will work in several different applications. To master this stage of the simulation, you must finish three tasks in three different applications: locate borrower contact information in iDesk, open bank statement from DocViewer, and submit task to underwriting using WAVE.

DEVELOPER NOTES: This slide is an introduction slide to new content. Use images and minimal text to convey the message in sync w/audio.



SCENE: 3 Preparing the Loan for Underwriting SLIDE ID: 3.2 SLIDE NAME: Set Up for Task 1 ANIMATION: MOCK‐UP/LAYOUT:



1. Launch sim 2. Advance to slide 3.3 On‐screen Text:

Be prepared

On‐screen Media:

NARRATION: As a loan processor, the first thing you do when you receive a new loan is call the borrower. You are the ‘face of PHH’; and the only thing standing in between the borrower and his new loan. This initial call is extremely important and sets the stage for your relationship. First impressions count, so be prepared. Let’s call Zeus and Zoe and introduce yourself as the loan processor who will be working directly with them. Click “Begin” and follow along as I guide you through locating the borrower’s contact information in iDesk.

DEVELOPER NOTES: This slide is merely a transition slide. It allows the user to have full control over when he is ready to begin. See attached: Locating Borrower Contact Info in iDesk for steps and specific details on this simulation.







Be prepared

On‐screen Media:

NARRATION: Nice job. It’s extremely important that you prepare for that call. As a processor, you will make that introduction call on each and every loan. Experienced processors thoroughly review the loan file and prepare for that call so they know exactly what is needed for a successful closing. The better you prepare, the better you can prepare the borrower for what he needs to do for a successful closing. You and Zeus hit it off. He’s really excited about his Zippo lighter collection, and is anxious to close, so he sent all of his documents in a timely manner. Part of your role as a loan processor is to examine the supporting documents that borrowers submit and ensure they meet guidelines for a salable loan. Zeus has sent his most recent bank statement. You need to review it to ensure he has enough funds for his down payment and closing costs. Click “Begin” and follow along as I guide you through opening a borrower’s bank statement in DocViewer.

DEVELOPER NOTES: This slide is merely a transition slide. It allows the user to have full control over when he is ready to begin. Feel free to be creative w/the story here. Add some images and animations as the narrators tells the story. See attached: Opening a Borrower’s Bank Statement in DocViewer for steps and specific details on this simulation.




NAVIGATION: Object: Animation: Trigger: Action: Stage 1 & 2 complete 1. Begin


1. Launch sim 2. Return to menu On‐screen Text:

Accuracy Consistency Submit task to Underwriting

On‐screen Media:

NARRATION: Nice job. DocViewer is where all of the loan documents are stored. Whether it’s a bank statement or an appraisal report, you access all documents the same way. It looks like the Zinns have submitted all of their documentation. You have thoroughly reviewed all documents, and have ensured the accuracy and consistency of the information in the loan file. You followed all underwriting guidelines. This loan file looks great! The Zinn file is ready for Underwriting review. <add sound effect> We use WAVE to submit tasks from one team to the other. Click “Begin” and follow along as I guide you through submitting an underwriting task in WAVE.

DEVELOPER NOTES: This slide is merely a transition slide. It allows the user to have full control over when he is ready to begin. See attached: Submitting an Underwriting Task in WAVE for steps and specific details on this simulation. After user completes sim, advance to slide 1.4 and unlock the next stage.



SCENE: 4 Making the Loan Decision SLIDE ID: 4.1 SLIDE NAME: Making the Loan Decision ntro ANIMATION: MOCK‐UP/LAYOUT:



On‐screen Text: Minimize loan risk

On‐screen Media:

NARRATION: Excellent job reviewing the loan file and submitting the loan for Underwriting review. You have completed the second stage of this simulation. <sound effect> Underwriting is the process that determines whether a mortgage lender should make the loan. This process involves the analysis of various loan risks and the minimizing of each risk to the permanent investor. When the underwriter reviews the loan file, he is asking himself four questions: 1. (Collateral) – How well will the property serve to recover the loan balance if the

borrower defaults? 2. (Capacity) – Will the borrower be able to make the monthly payments? 3. (Capital) – Will the borrower have cash to close? 4. (Character) – Will the borrower be willing to repay the loan in a timely manner and

in accordance with the terms of the loan? There are many tasks involved in underwriting the loan. To master this stage of the simulation, you must finish three: update borrower income in CA$H, clear an income condition in Conditions Management, select the loan decision and clear the underwriting task in WAVE.


collateral capacity

capital character

4 Cs



SCENE: 4 Making the Loan Decision SLIDE ID: 4.2 SLIDE NAME: Set Up Task 1 ANIMATION: MOCK‐UP/LAYOUT:




Update income in CA$H

On‐screen Media:

NARRATION: Through your analysis of the Zinn’s income, you discovered that Zoe has recently accepted a promotion at ZZ Top to Bottom Fitness as the lead Zumba instructor. This promotion yields an additional $1000 per month in income, so you must update this information in CA$H. Click “Begin” and follow along as I guide you updating income in CA$H.

DEVELOPER NOTES: This slide is merely a transition slide. It allows the user to have full control over when he is ready to begin. See attached: Updating Income in CA$H for steps and specific details on this simulation.







Clear condition

On‐screen Media:

NARRATION: Nice work. That additional $1000 in monthly income will serve them well. Now that the income is updated, we need to clear the income condition that was created in Conditions Management. Conditions Management is where all conditions are tracked. Click “Begin” and follow along as I guide you clearing the income condition in Conditions Management.

DEVELOPER NOTES: This slide is merely a transition slide. It allows the user to have full control over when he is ready to begin. See attached: Clearing Income Conditions in Conditions Management for steps and specific details on this simulation.







set loan status

On‐screen Media:

NARRATION: All pre‐decision conditions are cleared! You have completed the underwriting of this loan file. You have analyzed all risk and have determine that both the Zinns and the property meet the guidelines to ensure a salable loan. Congratulations. The next step is to document that decision. Click “Begin” and follow along as I guide you setting the loan status in CA$H.

DEVELOPER NOTES: This slide is merely a transition slide. It allows the user to have full control over when he is ready to begin. See attached: Setting Loan Status in CA$H for steps and specific details on this simulation.




NAVIGATION: Object: Animation: Trigger: Action: Stages 1, 2, and 3

complete 1. Begin 2. Simulation

complete

1. Launch sim 2. Advance to menu On‐screen Text:

Close task On‐screen Media:

NARRATION: Nice work. The processor will receive a notification telling them that the loan is approved and they will work the loan and prepare for closing. Your list step as an underwriter is to close the task you received in WAVE. Click “Begin” and follow along as I guide you Clearing the Underwriting task in WAVE.

DEVELOPER NOTES: This slide is merely a transition slide. It allows the user to have full control over when he is ready to begin. See attached: Updating Income in CA$H for steps and specific details on this simulation. After user completes sim, advance to slide 1.4 and unlock the next stage.



SCENE: 5 Preparing the Loan for Closing SLIDE ID: 5.1 SLIDE NAME: Preparing the Loan for Closing Intro ANIMATION: MOCK‐UP/LAYOUT:



On‐screen Text: Verify employment Set loan status

On‐screen Media:

NARRATION: Excellent job underwriting that loan. You have completed the third stage of this simulation. <sound effect> After the underwriter makes the final loan decision, the file goes back to the processor to prepare for closing. In this stage, you will revisit your role as a loan processor to verify Zeus’s employment, and set the loan status to “in closing.”




SCENE: 5 Preparing Loan for Closing SLIDE ID: 5.2 SLIDE NAME: Set Up Task 1 ANIMATION: MOCK‐UP/LAYOUT:




Verify employment On‐screen Media:

NARRATION: Because situations can change throughout the loan process, we are required to verify employment approximately 10 days prior to closing. You have already verified Zoe’s employment at ZZ Flat‐Bottom Fitness. Now you must verify Zeus is still Manager at Zam‐Quik‐Repair, the only Zamboni Repair shop in Zanesville. Luckily, Zam‐Quick Repair subscribes to The Work Number—making this task super easy for you. Click “Begin” and follow along as I guide you through verifying employment using The Work Number.

DEVELOPER NOTES: This slide is merely a transition slide. It allows the user to have full control over when he is ready to begin. See attached: Verifying Employment Using the Work Number for steps and specific details on this simulation.



SCENE: 5 Preparing Loan for Closing SLIDE ID: 5.3 SLIDE NAME: Set Up Task 2 ANIMATION: MOCK‐UP/LAYOUT:

NAVIGATION: Object: Animation: Trigger: Action: Stages 1, 2, 3 and 4


complete


Set loan status In Closing

On‐screen Media:

NARRATION: Nice job. Looks like Zeus is still Manager at Zam‐Quik‐Repair. Now that you have successfully verified employment, you are ready to send the loan to closing. Click “Begin” and follow along as I guide you through setting the loan status to “in closing’ in WAVE.

DEVELOPER NOTES: This slide is merely a transition slide. It allows the user to have full control over when he is ready to begin. See attached: Verifying Employment Using the Work Number for steps and specific details on this simulation. After user completes sim, advance to slide 1.4 and unlock the last stage.



SCENE: 6 Closing a Loan SLIDE ID: 6.1 SLIDE NAME: Closing a Loan Intro ANIMATION: MOCK‐UP/LAYOUT:



On‐screen Text: Verify employment Set loan status

On‐screen Media:

NARRATION: Excellent job submitting the loan to closing. You have completed the fourth stage of this simulation. <sound effect> Closing is the final step in the mortgage loan production process. At closing, all mortgage lender, insurance and inspection requirements are met and all outstanding fees, costs and premiums are collected. The underwriter typically submits closing conditions that must be fulfilled before the loan is executed. The closer is responsible for verifying that all of these closing conditions are met. In addition to documents, it is important that the closer delivers all funds necessary for closing to the settlement agent. To complete this final stage, you will act as a closer and update fees in CA$H, send the Closing Disclosure and send the borrower the closing package.




SCENE: 6 Closing a Loan SLIDE ID: 6.2 SLIDE NAME: Set Up Task 1 ANIMATION: MOCK‐UP/LAYOUT:




On‐screen Media:

NARRATION: The appraiser requested a roof inspection on the Zinn’s home. That inspection costs $504. All fees must be disclosed, and since this was not disclosed earlier, we must add this new fee in CA$H to ensure it’s reflected in the Closing Disclosure. Click “Begin” and follow along as I guide you Adding a Fee in CA$H.

DEVELOPER NOTES: This slide is merely a transition slide. It allows the user to have full control over when he is ready to begin. See Adding Fees in CA$H for steps and specific details on this simulation. There is an existing demo on this. You might be able to just pull it and update trigger to advance by user.







On‐screen Media:

NARRATION: Great job. The TRID Rule effective October 2015 dictates that we must disclose all fees. ‘Know What You Owe” is the motto, so it’s imperative that the Zinn family are aware of any and all fees they need to pay. TRID also dictates that borrowers must receive their Closing Disclosure at least 3 business days prior to closing. One of your jobs as a Closer is to ensure that the CD is sent on time. Failure to complete this task can push closing and have significant downstream impacts on the loan. Click “Begin” and follow along as I guide you through Sending the CD.

DEVELOPER NOTES: This slide is merely a transition slide. It allows the user to have full control over when he is ready to begin. See Sending the CD via the DSU or steps and specific details on this simulation.




NAVIGATION: Object: Animation: Trigger: Action: Stages 1, 2, 3, 4 and 5


complete


On‐screen Media:

NARRATION: Great job sending Zeus and Zoe the Closing Disclosure. They have opted in for eDelivery, so they have already reviewed it. We are compliant and ready to close on the Zinn loan. <add sound effect> At the time of closing, Title passes from the seller to the buyer/borrower. The borrower signs a variety of loan documents, including the note and security instruments. The closing agent must explain the closing documents to both the seller and the buyer (borrower) and then reviews each document to make sure that each signature is consistent and matches the names on all the other documents. Your final task as the Closer is to send complete closing package to the Closing Agent. Click “Begin” and follow along as I guide you through Sending the Closing Package.

DEVELOPER NOTES: This slide is merely a transition slide. It allows the user to have full control over when he is ready to begin. See Sending the CD via the DSU or steps and specific details on this simulation. NO INFO ON FSMS; NEED TO SIT W/A CLOSING REP AND CAPTURE THESE STEPS AND SCREENS. After user completes sim, advance to slide 1.4 to show all stages unlocked. Once all stages are unlocked, advance to Scene 7.



SCENE: 7 Summary SLIDE ID: 7.1 SLIDE NAME: Set Up Task 1 ANIMATION: MOCK‐UP/LAYOUT:

NAVIGATION: Object: Animation: Trigger: Action: 1. Timeline ends 1. End course

On‐screen Text:

On‐screen Media: Pic of dog w/dog tag (Zippo)

NARRATION: Thanks to all your hard work, Zeus, Zoe, Zedlin and Zolah had a successful closing and are enjoying their new home at 555 Zunbar Street. The Zippo collection is on display, Zolah is loving her Zebra‐themed bedroom and Zedlin finally got his dog <bark>. Loan production has multiple stages, each with complex tasks and many steps. This simulation barely touched the surface. You will learn more about each stage in your role‐specific immersion program. Good luck and welcome to PHH. Oh looks like Zeus is putting in a Zipline in his back yard….Fun.

DEVELOPER NOTES: This slide closes the scenario. Show image of family, their house, hobbies, etc. in sync w/audio.