The New URLA has each borrower on a loan application viewed as individuals, so on import any co-borrower (married or otherwise) will automatically be set to the Co-Borrower 1 position. This article will not only cover importing your file, but how to Merge your borrowers onto the primary application when appropriate from the Co-Borrower position(s).
Importing a Fannie 3.4 XML File:
1. Create a New Blank File.
a. Click the New button from the top of your work area.
b. Select New Blank File.
c. Click the OK button.
2. Navigate to File > Import From > Fannie Mae 3.4 MISMO from your top menu.
3. Navigate to the location the file is saved on your computer and select it.
4. Click the Open button.
5. Save your file.
Merging a Co-Borrower into the Primary file:
Note: To perform this task, the file(s) must be in the New URLA format and have data in any of the Secondary or Co-Borrower 1-5 positions.
1. Open the file in Point.
2. Navigate to Bor/Co-Bor > Swap or Delete from the top menu.
3. Use the From dropdown in the Merge Borrower into Co-Borrower position in the selected file to select which Co-Borrower to move into the Primary file.
4. Click the Merge button.
5. Save the changes to your file.
6. Navigate back to Bor/Co-Bor > Swap or Delete.
7. Use the Delete Co-Borrower File dropdown to select the file that has been Merged into the Primary file.
8. Click the correlating Delete button to remove the blank file.
9. Save the changes to your file.
