Arc Home is announcing an update to the Delegated Correspondent bid tape process, effective immediately.

After bid tape loans are locked by Arc Home, each MISMO 3.4 must be sent to Arc Home for upload in one of the following ways:

·         Log into the Bulk Submission portal available on our website (HERE) with your SPARC credentials and upload the 3.4. Important Note: Please include the borrower’s last name and Arc Home loan number in the “Comments” section. OR

·         Email the 3.4 to your Arc Home Account Manager AND ruthannem@archome.com. Please include the borrower’s last name and Arc Home loan number within the email.

After the MISMO 3.4 is imported for a locked bid tape loan, the closing package may be submitted to Arc Home in one of the following ways:

·         Log into the SPARC portal (HERE) and upload the closing package to the Upload/View Documents tab of your loan. Once the documentation is uploaded to the SPARC loan, click on “Submit to Purchase Review” to update the loan status. Important Note: The loan must not be submitted for review before the MISMO 3.4 import and loan documentation upload is completed for the locked loan. OR

·         If the closing package exceeds 100MB and you prefer to not split up the file for upload, you may upload the file via the Bulk Submission portal available on our website (HERE) using your SPARC credentials. Arc Home will upload the closing package to your loan and submit the loan for purchase review. Important Note: Please include the borrower’s last name and Arc Home loan number in the “Comments” section.