General

About the use of the LoanQConnect calculators, there are nuances that are important to master for the best presentation.  Knowing which calculator works best for a specific situation is important when sending the “Quote PDF” file. If sending multiple “Quote PDF” files, in which order to send them as attachments is personal preference.  Practice is important.  You will be able to make a calculation and send the results “Quote PDF” file to a borrower in about 80 seconds including relevant information in the note section.

Push Notifications – FAQ 8

FAQ 1 – What does installing the LoanQConnect app mean and how to cancel the subscription?

When you install this app on any device, you are accepting the “Privacy Policy”, “Terms of Use” and the subscription.  Policy and Terms documents are available on www.loanqconnect.com.

Canceling Your Subscription –

Android – Users can view the status of all of their subscriptions and cancel them from the My Apps screen in the Play Store app. Currently, the In-app Billing does not provide support for programmatically canceling subscriptions from inside the purchased app.

Apple – Once the app is purchased, the first month cannot be reversed.  In second month and each of the following months, the subscriber will be asked to pay again.  Simply opt out at this point and the billing will stop.

FAQ 2  – How easy is the LoanQConnect app to use?

The completion of the LoanQConnect registration and setup is easy. Please follow the directions for registration screen and company information setup from the white dialog box from the home screen. In the company setup for iOS, covered in FAQ 13 regarding photos and logos. If there is an issue with the photo presentation, please review FAQ 13 again or go to the Apple store for help.

FAQ 3 – Is the registration and company information required for the LoanQConnect app?

Registration and company information is never required with this app.

MLO (mortgage loan originator), completing both the registration and the company information in the settings tab screens is very important to be regulation compliant.  In other words, required by State and Federal law.  You must enter accurate data in all fields including your NMLS ID.  These data fields will appear in all your “Quote PDF” files and emails.

Consumer – None of these fields in either screen are required.

FAQ 4 – Will the LoanQConnect app contain underwriting guidelines for Fannie Mae and Freddie Mac?

No – The LoanQConnect app is a calculator.  You will need to know underwriting guidelines and loan limits by state and county.  MI calculations are by guidelines for credit score and LTV but not state specific.  MI is insurance and we used the published rate at https://www.mgic.com/pdfs/71-61210_bpmi_monthly.pdf.  There is one variance from the regular MI rates for the State of Washington.  This app will provide you with an APR that is within tolerances for RESPA.  We use 60 months of MI for the APR calculation.

FAQ 5 – Does the LoanQConnect app calculate only fixed rate mortgage information?

At this time, all calculations are for fixed rate conventional mortgages.  We will be adding additional features in the future that will assist you with other programs.

FAQ 6 – Does the LoanQConnect app have an option for “No MI / Jumbo Loans” above 80% LTV?

The LoanQConnect app has a “No MI / Jumbo Loan” option available on all of the calculators for >80% LTV.  This option will remove any calculation for MI on results screen, “Quote PDF” file and in the APR calculation.  The current maximum LTV for this app is 97%.  You must know your underwriting guidelines for these types of loan programs.

FAQ 7 – App Operating Odds and Ends – What To Expect When Operating the LoanQConnect App And How To’s

On/Off Buttons – Apple iOS and Android – Blue is on, selected or active and white is off, deselected or inactive.

Back Button – Apple iOS and Android – It is in the usual place with the usual icon.

Share Buttons – Apple iOS and Android – Located in upper right hand corner when available from any results screen.

E-Mail From An Apple and Android Device – You may e-mail from any account setup on your device. It’s best to delete the photo and equal housing symbol attachments when in the email client before sending.  This will prevent the “Sent From iPhone .txt” and the large Android file attachments being received in OutLook.

Apple iOS – In the email client, place curser to the right of the attachment to be deleted then hit the back button on the keypad.  Android – In the email client, tap the red “-” (minus sign) to the right of any of the attachment to delete it.

Saving Data In Data Entry Fields – Apple iOS and Android – You must advance either to the next screen or hit the calculate button to preserve data in data entry fields including the notes section.

Setup – Phone Number and Email Address – Registration is for Direct Number and Direct e-mail.  The MLO first time setup after “Registration” is for required NMLS info and contact “Office Number and Email” if desired.  Look for the popup “ToolTip” in white for instructions after you hit “Submit” on the registration screen.  If you wish to change this office or direct info after initial setup, go to setting tab, click either company or registration link.

Setup – Photo or Logo – Android – It is best to use a photo or logo less than 100kb.  You may use a larger size if you wish.  The app should resize any image.  Testing was with 37kb .jpg and .png images.

Saving a Quote PDF file – For Android, printing is how to save a “Quote PDF” file.  Please review the steps in FAQ 11.

 

Specific LoanQConnect App FAQ’s

FAQ 8 – Push Notifications:

Change selection: Go to Setting tab.  Make selection in Enable Push Notifications – Yes or No.

FAQ 9- Sluggish Response Time:

If your calculator acts sluggish or wonky, you probably have too many applications running in the background.

  1. Go to your running applications manager and close your running apps.
  2. Launch LoanQConnect application.
  3. Go to the screen you were last on for completion or viewing calculator.  Your data will most likely have been saved.

FAQ 10 – Apple iOS – Saving and Attaching Quote PDF file(s) to an email:

Apple (iOS) – Saving and sending a single file.  There is no option for saving then attaching Quote PDF files in iOS.  You may only send one Quote PDF file at a time but you may save all Quote PDF files to MyBooks on your device for future reference.

Steps –

  1. Select the calculator to create a “Quote PDF” file as usual thru the LoanQConnect Mortgage Calculator app.
  2. Add the required data in the fields and calculate.
  3. When on the results screen, click the “Share” icon in the upper right hand corner, select email client and send as you would usually send an email.

FAQ 11 – Android – Saving and Attaching Quote PDF file(s) to an email

Android uses a direct method for saving and sending one or more “Quote PDF” files via a single email.

When sending a single “Quote PDF” file from the LoanQConnect Mortgage Calculator, proceed to email the file email client you wish to use and send.

Steps – Android Single “Quote PDF” File

  1. Select the calculator to create a “Quote PDF” file as usual thru the LoanQConnect Mortgage Calculator app.
  2. Add the required data in the fields and calculate.
  3. When on the results screen, click the “Share” icon in the upper right hand corner of your screen, select email client and send as you would usually send an email.

If sending more than one set of calculation results from the LoanQConnect Mortgage Calculator as a group of “Quote PDF” files to specific reader(s), you will need to save the individual calculation results.  This has an easy solution as follows.

Steps – Android Multiple “Quote PDF” Files

  1. Select the calculator to create a “Quote PDF” file as usual thru the LoanQConnect Mortgage Calculator app.
  2. Add the required data in the fields and calculate.
  3. When on the results screen, click the “Share” icon in the upper right hand corner of the screen.
  4. OS 5.0 and greater – Save as usual using the “Print” option and then the yellow “Download” icon.  Choose where to save the file for retrieval later.
  5. Remember: This saved “Quote PDF” file is only a temporary file on your device.  It could be overwritten or permanently deleted.  If you desire to save these files permanently, BCC yourself when you email the reader and save on your computer hard drive in a quote history folder.  When ready to use previously created saved “Quote PDF” as an attachment to an email, create the email either thru one of the calculators on the LoanQConnect Mortgage Calculator app:  Click “Share”, Choose email client, then Attach” from the email, then “My Files”, then “My Device”, then “Download” folder, then the desire file(s) for attachment.  Send the email as usual.   In an email client, attach and send as usual.  iOS also has the same basis set of instructions.  Make sure to remove old “Quote PDF” files from your device when convenient to maximize storage space.  It’s easy once used a few times.

You will need to play with this to become good at presenting multiple “Quote PDF” files to the reader.

FAQ 12 – “Use MI” or “No MI / Jumbo” selection for all calculations and how calculators are made:

This selection will determine if the calculation of MI is used as part of the results screen and the Quote PDF file.  Your choice will influence APR and total payment.  Android and iOS – Blue Radio Button is the “On” selection for MI to be calculated and part of the results and white for “Off” or no MI in any calculation.  Here is the statement for MI:

MI (mortgage insurance) used by the LoanQConnect Mortgage Calculator in the calculation of monthly MI payments and APR for conventional loans with an LTV (loan to value) above 80%. The LoanQConnect Mortgage Calculator MI calculations are based on the published non refundable rate factors from MGIC for purchase and rate and term refinance transactions with level payments for the first 5 years. LoanQConnect Mortgage Calculators use owner occupied MI rate factors based on credit score, LTV, loan term and a single family/one unit property. The calculator user must know and use the state and county loan limits for “Conventional Conforming” and “High Balance” loans from FANNIE MAE or FREDDIE MAC for accurate MI payment and APR calculations. The LoanQConnect Mortgage Calculator is not intended to calculate MI payments for jumbo and FHA/VA loans or second homes, manufactured housing and investment properties nor does it account for cash-out refinance transactions, refundable monthly premium, declining MI renewals, employee relocation programs or any other rate reduction for term as specified by MGIC.

FAQ 13 – Known bug for iOS 8 – Image or photo:

On iOS 8, the camera of the UIImagePickerController will appear correctly whether in landscape or in portrait, but when you rotate the device, you will get the camera view rotated by 90 degrees, here’s a an example:

  1. You have the app in portrait
  2. You push the button that shows the UIImagePickerController
  3. You are in the camera view and go to landscape mode, The view is in landscape but the camera is rotated by 90 degrees.  The image appears rotated 90 degrees when used in the settings tab

Solution – Take the photo in the mode you have the camera set in. Landscape and Landscape.  Portrait and Protrait. Contact tech support at Apple.

FAQ 14 – Navigation Tabs: 

Calculators, Rates – Lock Information, Info – FAQ and Contact, 1+1 (new – coming soon) – Simple Calculator, Setting – Personal and Company Settings.  You may move between tabs from anywhere in the app.  You may move from one calculator to any navigation tab at any time also.  When entering data on any calculator screen, keep in mind you must advance to the next screen or use the calculate button to save you entered data including notes.

FAQ 15 – Printing – All Operating Systems:  Not All Printers Are Approved For Use On All Devices.

You will get an error message that is slightly confusing if your printer is not approved. You may will able to save a Quote PDF file to your device but may not be able to print it later.

Solution –  The PDF creation option for email always prints correctly as an attachment from an email from your computer desktop.  Create a “Quote PDF” file from one of the LoanQConnect calculators.  From the results screen, click the “Share” icon in the upper right hand corner, choose “Email”, click on the email client you wish to send from and send it to yourself or bcc yourself when sending to a reader.  The PDF file will always print on any printer from an email client on a computer.  You can check your device OS, with the manufacturer tech support or the printer manual to see which printers are approved for which devices and the appropriate software is preinstalled on your device.  I have found tech support is the best option to save time.

FAQ 16 – ToolTip – Initial Setup – Settings Tab

This ToolTip is to direct you to the settings tab.  Choose either the consumer or LO (Loan Officer).  You may setup LO and company information from this tab.  This information includes the NMLS ID for both the company and the LO.  It also includes contact information for the documents you print or send to your clients.  You have the option to include an image or icon if you like.  The image set to a maximum size and can accommodate a photo, logo image or chart if you choose.  The space for image is in proportion to the txt on the document you are creating for ascetic reasons.  You may at anytime edit any of the information you enter in the setting tab including a new image.

The settings tab also includes your primary use for either Purchase / Refinance but all options for either are available regardless which you choose.  If you choose the consumer option, some of the data you enter will not be reproduced on any documents or emails you create with this app.  These choices are for our statistical analysis and like all data you enter on this app, it will not be sold or shared with any third party or company affiliate.