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MBOH Reservation Guidelines

 

 

1. Login to LOL
    a. Type the URL that the Agency has provided you with in the Address bar.
    b. Press the Enter key or click on the Go button next to the Address bar.
    c. On the Login Screen, type your User name and Password in the corresponding input boxes.
    d. Press the Enter key or click on the Login button.

2. Click on New Reservations Tab
    a. Scroll down to find program you wish to reserve
    b. Click on program to select

3. New Reservations Form will appear
    a. Enter all required information in fields marked with red asterisk*
    b. In addition:
        i. Check designated box for CO-BORROWR if applicable and enter co-borrower information
        ii. Under ANNUAL INCOME, Non-Applicant, enter any income for occupants 18 or older who are not on the loan
        iii. Under HOUSEHOLD please enter # of Income recipients, # of Persons Over 18, Under 18, and Dependents
        iv. Indicate Prior Homeownership and date last owned. If pending sale, enter yesterday's date
        v. Enter Contact Person
        vi. Use 0.0 for census tract entry
    c. Click on Submit

4. Fax in the Borrower Stat Sheet and Homebuyer Education Certificate if applicable

5. New Loan Reservation has been submitted

6. Log Out

7. Check for Approval and Commitment; Reservation is not final until approved by MBOH staff.
    a. After logging in to LOL click on Loan Status tab
    b. Scroll down list of loans in window until you find loan # you are looking for
    c. If status is incomplete, look for exceptions. Some programs require submission of additional documents before reservation can be approved. If no exceptions, then go to next step.
    d. Look under Last Stage / Status, if Purch Pkg Rcd / PENDING your Loan Reservation has been Approved and funds have been Committed
    e. Set-asides need two items to be faxed in to MBOH for reservation to be approved:
        i. Release of financial information
        ii. Letter of commitment from set-aside sponsor

 

 

NOTE:  IF THE LOAN AMOUNT CHANGES FROM THE TIME OF RESERVATION TO THE TIME OF PURCHASE, AN E-MAIL OR FAX NEEDS TO BE SENT TO ONE OF THE CONTACT PEOPLE AT THE BOTTOM OF THIS PAGE REQUESTING A LOAN CHANGE AMOUNT AND A BRIEF REASON FOR THE CHANGE. THANKS


Contacts:
    Charlie Brown 406.841.2850 406.841.2850
    Julie Hope 406.841.2853 406.841.2853
Fax: 406.841.2839

 

 

 

Reserving MBOH loans using Lender On Line