File Retention Brokered and Mini Correspondent Loans

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1 Berkshire Lending, LLC File Retention Brokered and Mini Correspondent Loans Your Branch Office must be in compliance for HUD audits and state license examinations. Audits are fairly routine and simple provided you comply with our guidelines and policies. Failure to adhere to HUD and state policies may result in Branch Office termination, loss of HUD approval, and state license revocation including fines/penalties. It is imperative that a complete copy file be retained to be in compliance on all closed, denied, rescinded and withdrawn loans regardless of loan type or program. HUD Handbook REV-2, Paragraph 5-10, states that the Originating Mortgagee must retain the entire case file pertaining to Loan Origination. Every loan file (includes closed, denied, rescinded, withdrawn) must be uploaded to the Calyx Point Server. In addition, a single complete PDF file of the supporting documentation per the FILE RETENTION STACKING ORDER CHECKLIST must be uploaded through Upload Copy File at in Loan Central. Supporting documentation is not required to be uploaded through the Document Storage feature in Calyx Point for file retention purposes. The Calyx Document Storage feature is optional for File Retention, however, if utilized; a single complete PDF file of the supporting documentation per the FILE RETENTION STACKING ORDER CHECKLIST must STILL be uploaded through the Upload Copy File feature at in Loan Central. Berkshire Lending will use the checklist below to determine compliance with the file retention requirements. Files that do not adhere to the FILE RETENTION STACKING ORDER CHECKLIST will not be accepted and may cause delays in payroll. Documents must be uploaded within 7 days of funding and no later than title/lender check cut-off time for the applicable pay period.

2 Berkshire Lending, LLC FILE RETENTION STACKING ORDER CHECKLIST Today s Date: Branch No. Loan Officer Name: Borrower Last Name: Borrower First Name: Property Address: City: State: Zip: Lender: Date: (check one) Funded Denied Rescinded Withdrawn Closing Documentation: (All Loan Types) File Retention Stacking Order Checklist Final Signed HUD-1 Settlement Checks Title Disbursement Ledger and Receipts Closing Instructions Deed of Trust Note Mortgage Warranty Deed PUD Rider Riders (VA/FHA/PUD) Act of Cash Sale Closed End Fixed Rate Note (HECM) Closed End Fixed Rate Second Note (HECM) Closed End Fixed Rate (HECM) Mortgage/Deed of Trust Closed End Fixed Rate (HECM) Second Mortgage/Deed of Trust Recordation/Recording Receipt Notice of Right to Cancel (refinance) Final/Signed LT (signed, dated or CHUMS ID) Final/Signed/Dated Typed FNMA1003 / FNMA 1009 (must be signed by LO) Final/Signed/Dated A (page 3 must be signed, dated or CHUMS ID) Final/Signed/Dated Truth-in-Lending Clear copy of Driver s License / valid picture ID for all borrowers Clear copy of Social Security Card for all borrowers Income Documentation: (All Loan Types) VOE (dated on or after loan application date) Current Paystubs (covering a 30 day period) W-2 s / 1099 s for most recent two years Personal tax returns for two years If self-employed: business returns for two years, all schedules, all pages Income Calculation Worksheet Divorce Decree/Child Support documentation (if applicable) Bankruptcy papers with schedules and Discharge (if applicable)

3 Berkshire Lending, LLC Asset Documentation: (All Loan Types) Current bank/asset/retirement statements covering a 60 day period Documentation regarding large deposits, if any VOD (dated on or after loan application date) Gift Letter Donors ability to give gift VOR (dated on or after loan application date) Contract/Appraisal/Escrow/Title: (All Loan Types) Purchase/Sales Agreement (fully executed) FHA Amendatory Clause agreement/real Estate Certification (FHA only) B Conditional Commitment/Addendum Appraisal Report (signed by U/W w/chums ID) Final Inspection and Invoice Appraisal with photos and market analysis sheet (FHA only: inspection dated on or after date case # is pulled) Appraisal Invoice Rental survey / operating income statement (investment properties only) Subterranean Termite Treatment Builder s Certification and Guarantee Form NPCA-99a (required on all new construction, and less than 1-year old existing properties) Warranty of Completion Form Builder s Certification of Plans, Specifications and Site Reports, Form 92541, 10-Year HOW-Warranty Agreement, State Licensed Engineer s Report and Termite must match the date of the Sales Contract, Loan Transfer Letter (if applicable) Evidence of Insurance (Declaration Page) Flood Certificate Copy Earnest Money and receipt Title Commitment and Title Invoices Insured Closing Letter Title Company s Wiring Instructions HOA certification Tax Certification Preliminary HUD-I Survey and Invoice Payoff Information (HUD-1, DOT, NOTE, etc) Copies Checks and/or Money Orders Received from the Borrower (Identify Appraisal, Credit, Other) Invoice and Reports (pest inspection (termite), home inspection, repairs, etc) If it is showing on the Final HUD-1 (seller or borrower) we must have in the retention file. Signed Disclosures & Authorizations: (All Loan Types) Lock Confirmation Lock Extension Loan Approval Notification / Investor Approval Credit Report (dated on or after borrower credit authorization) Credit Explanation Letters / Documentation 4506 T (signed by borrower(s) and dated within 30 days from submission)

4 Berkshire Lending Initial Handwritten 1003 / FNMA 1009 (signed and dated by borrowers & LO) Initial A (Must have Branch Address, Branch HUD ID & NMLS - 4 pages) Initial LT GFE 2010 (dated within 3 business days of application) Service Provider List AUS Findings Transmittal Summary (1008) GFE Provider Relationship Truth In Lending (dated within 3 business days of application) Initial Fees Worksheet (With every TIL disclosed - dated on the TIL date) Receipt of GFE (initial) Receipt of TIL (initial) Intent to Proceed Change Circumstance Notification (within 3 business days of receiving the information) Affiliated Business Arrangement Disclosure Lender Fee Worksheet Borrower Signature Authorization Borrowers Certification and Authorization Servicing Disclosure Statement Credit Score Information Disclosure Equal Credit Opportunity Act Disclosure (ECOA) Fair Lending Notice Privacy Policy Disclosure Mortgage Loan Origination Agreement Patriot Act Disclosure Disclosure Notices Flood Disaster Protection Act of 1973 Flood Hazard Notice Notice of Applicant Right to Receive Copy of Appraisal Anti-Steering Safe Harbor Disclosure Fact Act Credit Score and Risk Based Pricing Disclosures Private Mortgage Insurance Disclosure Adjustable Rate Mortgages Private Mortgage Insurance Disclosure Fixed Rate Mortgages FBI Mortgage Warning Notice Tangible Net Benefit Disclosure ARM disclosure notice, if ARM Receipt of CHARM Booklet (if ARM) Other applicable program specific disclosures: (All Loan Types) State Specific Disclosures Lender Specific Disclosures Loan Shield Print-Out FHA Only: (Additional Documents) FHA Case Number Assignment Clear CAIVRS Clear LDP/GSA reports HUD For Your Protection Get a Home Inspection

5 HUD Assumption Notice Release of Liability HUD Appraised Value Disclosure HUD Energy-Efficient Mortgage Fact Sheet HUD Informed Consumer Choice Disclosure Notice HUD 92900B - Important Notice to Homebuyers (2pgs) HUD/FHA Identity of Interest Certification Receipt of HUD Settlement Booklet HUD Lead Based Paint (signed by all borrowers), if build prior to 1978 Berkshire Lending VA Only: (Additional Documents) VA Certificate of Eligibility (VA Form or VA Form a) VA Request for Determination of Eligibility (VA Form ) HUD/VA Addendum to URLA (VA Form a) VA Debt Questionnaire (VA Form ) VA Federal Collection Policy Notice (VA Form ) VA Interest Rate and Disclosure Statement VA Assumability Disclosure (VA Form ) VA Request of Certificate of Veteran Status (VA Form a) VA Loan Analysis w/caivrs (VA Form ) VA Request for Certification of Reasonable Value (VA Form ) IRRRL Worksheet (VA Form ) VA Verification of Benefit-Related Indebtedness/SIGNED (VA Form ) VA Rate Reduction Certification VA Loan Summary Sheet (VA Form ) VA Report and Certification of Loan Disbursement (VA Form ) VA Counseling Checklist for Military Homebuyers (VA Form ) VA Request for Verification of Employment (VA Form ) VA Request Verification of Deposit (VA Form a) VA Right of VA Loan Borrowers (VA Form ) Warranty of Completion of Construction (VA Form ) Builder s Certification of Plans, Specifications and Site Reports, (Form VA-1859), 10-Year HOW-Warranty Agreement, State Licensed Engineer s Report and Termite must match the date of the Sales Contract, Loan Transfer Letter (if applicable) VA Option Clause Child Care Certification Statement of Nearest Living Relative Active duty certification Clear CAVIRS Clear LDP/GSA reports USDA Only: (Additional Documents) Clear CAIVRS Clear LDP/GSA reports GUS Findings RD Form , Request for Single Family Housing Loan Guarantee RD Form , Conditional Commitment for Single Family Housing Guarantee

6 Berkshire Lending Reverse Mortgage Only: (Additional Documents) POA Documents (if applicable) Trust Documents (if applicable) Grant Deeds, Quitclaim Deeds, etc Payoff Demands (if applicable) Death Certificate (if applicable) HECM Mortgage Loan Agreement (Closed End) Nearest Living Relative Information Certificate of HECM Counseling List of Counseling Agencies HUD Counseling Disclosure Face to Face Waiver Certification Reverse Mortgage Repair Acknowledgement Repair Set Aside Worksheet (if applicable) Bids for any required work (if applicable) Reverse Mortgage Comparison Benefits Summary HECM Fixed HECM Calculations Amortization Schedule Estimate Closing Cost Worksheet Total Annual Loan Cost Important Terms Disclosure Excessive Fees Disclosure Tax & Insurance Disclosure Occupancy Certification Acknowledgement of Receipt of Miscellaneous Disclosures General Disclosure Borrower s Notification ECOA Notice / FCRA Notice / USA Patriot Act / Fair Lending Notice Private Well and/or Septic Notice Right to Financial Privacy Bankruptcy Statement Annuity Disclosure Anti-Coercion Statement Notice of Availability of Real Estate Appraisal Anti-Churning (if applicable)

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