Third Party Originator Application

Transcription

1 Third Party Originatr Applicatin Applicant Infrmatin Third Party Name: Primary Address: City: State: Zip Cde: Primary Cntact: Telephne Number: Address: Fax Number: Website Address: Branch Lcatins (if applicable): Frm f Organizatin: Crpratin Partnership Sle Prprietr Other: Licensed as: Financial Institutin Mrtgage Banker Mrtgage Brker Cmpany DBAs r AKAs: Federal Tax ID N: Date Business Started: / / Number f Emplyees: Banking Infrmatin required fr nn-depsit institutins: Mrtgage Warehuse Line Infrmatin: Lender: Amunt: Year Opened: Year Line Expiratin Date: Lender: Amunt: Year Opened: Year Line Expiratin Date: Lender: Amunt: Year Opened: Year Line Expiratin Date: Please list any Affiliated Businesses r state Nne. Affiliated Business Name Service prvided Principals and Officers [Please list all principals and fficers] Name: Title: Name: Title: Name: Title: 1 P age

2 Primary Cntact List Primary Cntact Secndary Marketing/Pricing Originatin Manager Pst Clsing Prcessr Supervisr Name/Telephne # Address Applicant Apprved By FNMA FHLMC FHA Federal VA Mrtgage Insurance Cmpanies: Has the Applicant btained Delegated Underwriting Authrity? Yes N If yes, please indicate lenders: Has apprval even been denied r terminated by any f the abve rganizatins? Yes N If yes, please state the particular circumstances n an attached sheet. Ttal Residential Lan Prductin Ttal N. f Lans Ttal Lan Amunt Current Year Last Year Ttal Secndary Market Lan Prductin Ttal N. f Lans Ttal Lan Amunt Current Year $ Last Year $ Current Investr References Is Applicant current selling lans t ther lan purchasers? Cmpany Name: If yes, please list. Cntact Persn: Address: Cmpany Name: Cntact Persn: Address: Cmpany Name: Cntact Persn: Address: If nt currently selling lans, please list 3 business references. 2 P age

3 Has an applicatin with these r any ther lan purchasers ever been denied r terminated? If yes, please explain the particular circumstances n an attached sheet. Are any fficers r emplyees excluded frm the fidelity insurance r errrs and missins cverage? If yes, please explain the particular circumstances n an attached sheet. Is Applicant cmpliant with the SAFE Act? Yes N Cmpany NMLS # Has the Applicant had any substantial adverse findings with respect t mrtgage riginatins frm a recent audit r examinatin by FNMA, FHLMC, FHA, r any ther regulatry agency? If yes, please explain the particular circumstances n an attached sheet. Wh is the Applicant regulated by? Please list any cnsent rders, cease f desist r ther enfrcement actins frm a regulatr n an attached sheet and prvide status f actin. The Applicant is licensed t riginate mrtgages r manufactured husing business in the fllwing states (please prvide cpy f the license): Will yur business with Assciated be dne as a Mrtgage Brker? Yes N If yes, anticipated vlume: Please cmplete the Mrtgage Brker Pricing and Lan Originatr Addendum Anti-Mney Laundering Prgram Certificatin Executin f this applicatin certifies the implementatin an OFAC Alert screening prcess and Anti-Mney Laundering Prgram that meets the fllwing requirements: TPO t prvide a Custmer Identificatin Ntice t each applicant at the time f applicatin advising them f anti-mney laundering activities. TPO t btain custmer s cmplete name, middle initial, address, tax ID number and date f birth. Face t face applicatins: TPO must identify its custmers by reviewing driver s license, green card, passprt, etc. and dcument in the lan file that the identity f the Applicant(s) has been verified. (Mail and phne applicatins will nt require any additinal dcumentatin ther than what is custmary in the nrmal curse f business.) TPO t check OFAC lists and identify matches. Failure f the TPO t cmply with its OFAC Alert screening prcess and Anti-Mney Laundering Prgram in cnnectin with lan applicatins may lead t terminatin f this Agreement. Appraisal Plicy Certificatin Executin f this applicatin certifies that the TPO maintains a written plicy gverning the appraisal rdering prcess and preparatin f Appraisal Reprts prepared n the TPO s behalf that minimally meets the same requirements as such prgram that is used by Assciated Bank fr its wn purpses. This plicy maintains that all Appraisal Reprts must, at a minimum: 3 P age

4 Meet Appraiser Independence Requirements ( AIR ) as published by Fannie Mae, Freddie Mac, Federal Husing Finance Administratin (FHFA), r ther interagency guidelines. Cmply with the standards f the Unifrm Standards f Prfessinal Appraisal Practice ( USPAP ), prmulgated by the Appraisal Standards Bard f the Appraisal Fundatin lcated at 1029 Vermnt Ave., NW, Washingtn, DC, Be written and cntain sufficient infrmatin and analysis t supprt the decisin t engage in the transactin. Be based upn the definitin f market value as set frth in the USPAP. Be perfrmed by a state licensed r certified appraiser. It is agreed by the TPO that apprpriate cntrls are implemented with regard t quality cntrl, audit, and review prcedures t insure the Appraisal Plicy Requirements and Ordering Prcedures are fllwed. Failure f the TPO t crrect r prevent the ccurrence r reccurrence f significant exceptins in cnnectin with lan applicatins may lead t terminatin f this Agreement. It is further agreed that the TPO will furnish a written cpy f its current appraisal plicy upn request by Assciated Bank, N.A. Quality Cntrl Plan Certificatin Executin f the applicatin certifies that the TPO maintains an nging Quality Cntrl Review Prgram that at a minimum meets the requirements as such prgram implemented by Assciated Bank. This prgram prvides fr quality cntrl reviews t be cnducted n a randm sample, nt less than ten percent (10%), f lans riginated n behalf f the TPO fr each reprting perid. The plan is t include a prcess during prefunding and t fllw Fannie Mae guidelines. All lans are t include OFAC, Hawk Alerts and Red Flags searches as part f the credit review. These quality cntrl reviews are t be perfrmed by an individual r individuals wh are cmpletely independent frm the riginatin, prcessing, underwriting r clsing f the lan being reviewed. These reviews can be cnducted by a cmpany emplyee r by an utside cntractr. The review shall cnsist f a thrugh review f the Lan Applicatin, Credit Reprt, Incme Dcumentatin, Asset Dcumentatin, Appraisal Reprt and any ther pertinent infrmatin cntained in the lan file. Results f these quality cntrl reviews will be made available t senir management f Assciated Bank within ninety (90) days f the clse f the reprting perid. Senir management will review these findings within thirty (30) days f receipt and TPO will immediately implement crrective actin t prevent the reccurrence f any majr exceptin discvered during the review f the quality cntrl reprts. Failure f the TPO t crrect r prevent the ccurrence r reccurrence f significant exceptins in cnnectin with lan applicatins may lead t terminatin f this Agreement. It is agreed that the TPO will furnish a written cpy f its current Quality Cntrl Review Plan and the results f its quality cntrl reviews ver the past year upn request by Assciated Bank, N.A. Lan Originatr Cmpensatin Prgram Certificatin Executin f this applicatin certifies the implementatin an anti-steering prcess and Lan Originatr Cmpensatin Prgram that meets the fllwing requirements: Cmpensatin can nly be paid frm ne surce. Cmpensatin cannt be based n the terms and cnditins f the mrtgage lans such as higher rates, lnger term r the type f prgram selected by the brrwer. Lan riginatrs may nt steer custmers t higher-priced lans r lans with terms that are nt as favrable t the custmer but are mre valuable t the lan riginatr. Safe Harbr plicy & prcedures are in place. Failure f the TPO cmply with it Lan Originatr Cmpensatin Prgram in cnnectin with lan applicatins may lead t terminatin f this Agreement. 4 P age

5 The Applicant warrants that: The statements set frth in this applicatin and all infrmatin prvided within, is valid and true. The Applicant further warrants that it is duly rganized and prperly licensed t riginate mrtgage lans under the laws f its state f incrpratin. Applicant: By: Signature Date Printed Name Title 5 P age Please submit all f the fllwing infrmatin with yur applicatin Financial (Depsit) Institutins - 1. Audited financials fr the last three fiscal years. 2. Tw executed Crrespndent Whle Lan Sale Agreements. 3. Executed AML Reliance Agreement. 4. Cpy f executed bard reslutins which identify the Officer(s) wh are empwered t execute the Crrespndent Whle Lan Sale Agreement. 5. Cpy f Fidelity Bnd and/r E&O insurance, where required by state. 6. Cpy f Quality Cntrl plan. 7. W-9 Frm. 8. Wire instructins. 9. If applicable, explanatins fr any required items n previus pages f this applicatin. Mrtgage Banker/Brker - 1. Audited financials fr the last three fiscal years and mst recent interim financial statements. 2. Tw executed Third Party Originatr Agreements. 3. Cpy f executed bard reslutins which identify the Officer(s) wh are emplyed t execute the Third Party Originatr Agreement. 4. Current resumes f principal fficers. 5. Persnal credit reprts fr all principal fficers. 6. Investr Screcards. 7. Executed Midex Authrizatin and Release Frm. 8. Cpy f Business license (in all states where lans will be riginated) 9. Cpy f Fidelity Bnd and/r E&O Insurance, where required by state. 10. Cpy f Quality Cntrl Plan. 11. Executed Lan Pricing and Originatr Addendum, Required fr Mrtgage Brkers 12. Wire instructins. 13. W-9 Frm. 14. Entity Dcumentatin: a. If Applicant is a Crpratin i. Crprate Reslutin fr authrized signers f the applicatin r cpy f existing Reslutin. ii. Cpy f Articles f Incrpratin b. If Applicant is an LLC i. Articles f Organizatin ii. Operatins Agreement

6 6 P age c. If Applicant is a Partnership i. Partnership Agreement d. If Applicant is using a DBA (all entity types) i. Fictitius Business Name Filing