C2 Financial File Flow Checklist Page 1 of 5
|
|
- Derek Houston
- 8 years ago
- Views:
Transcription
1 C2 Financial File Flow Checklist Page 1 of 5 BORROWER NAME: DATE WHO INITIAL MEETING (IN PERSON/OVER PHONE) NOTES LO Introductory fact finding meeting with client LO Take 1003 LO Run credit report If 1003 is complete (i.e. 6 main criteria met), LO signs 1003,issues disclosures w/i 3 days) Have borrower complete C2 PREFERENCE SHEET Request from borrower basic conditions on NEEDS LIST 1, i.e. W2, paystubs, etc Send 1 which also includes NEEDS LIST 1 Set 48 calendar reminder to follow up with client for NEEDS LIST 1 conditions If NEEDS LIST 1 conditions NOT received within 48 hours, send 1a and call client Reset 48 calendar reminder to follow up with client for NEEDS LIST 1 conditions (Repeat) When all NEEDS LIST 1 conditions received, send 1b to client FILE PREP NOTES Organize, stack and label conditions from NEEDS LIST 1 to make easy for processor to review NEEDS LIST 1 conditions to processor LO Calyx file to processor LO Lender name, AE name, Comp level, Fees, Interest Rate, and Program to processor Set 48 hour reminder to follow up with processor for status Proc Reviews NEEDS LIST1 conditions for completeness, i.e. are tax returns complete, etc Proc Identifies any missing conditions and sends 2 with NEEDS LIST 2 attached. Set 48 hour calendar reminder to follow up with borrower on NEEDS LIST 2 Opens escrow and title (Request fees from escrow/title if not provided by LO) Set calendar reminder for 48 hours to confirm escrow opened and fees received. Contact AE to request any lender specific forms, fees and procedures for submission Set 24 hour reminder to follow up with AE for response
2 C2 Financial File Flow Checklist Page 2 of 5 DATE WHO INITIAL DISCLOSURES NOTES Generate Initial Disclosures (Sent to borrower within 3 days of orig date) Send 3 and attach 1003/disclosures to client directing client to sign and return ASAP. Set 48 hour calendar reminder to follow up with client to ensure 1003/disc returned. Signs and returns 1003 and Disclosures Reviews 1003 and disclosure for completeness If any signatures or documents missing, send 4 to client Set 48 calendar reminder to follow up with client on missed signatures. SUBMIT FILETO LENDER NOTES Prepare and stack file for submission to lender Submit file to lender Send 5 to client notifying file submitted Set 3 day calendar reminder for approval. (If no approval recd, AE) Set 2 day calendar reminder to confirm lender has issued initial disclosures to client Issues disclosures to client Contact client to confirm they signed and returned disclosures to lender Order appraisal from AMC Send 6 to client notifying appraisal ordered. Set 48 hour calendar reminder to confirm appraisal has been scheduled Set 5 day calendar reminder to follow up with AMC to confirm appraisal completed AMC Contacts client to schedule appraisal AMC Completes appraisal and returns appraisal to lender Contacts lender to confirm appraisal received. Send client 7 and attach appraisal to . UNDERWRITING NOTES Lender Approves loan with conditions (Or declines loan)
3 C2 Financial File Flow Checklist Page 3 of 5 DATE WHO UNDERWRITING (CONT) Sends 8 to client with NEEDS LIST 3 (Include UPDATED bank statement & payoff) Review bank statements: Ask client for LOE on any larger deposits and copy of check. Set 48 hour calendar reminder to follow up on outstanding items from NEEDS LIST 3 Client Returns all conditions from NEEDS LIST 3 Review conditions from NEEDS LIST 3 and submits to lender DOCS NOTES Call escrow to verify location of doc signing convenient for client Request Docs Set 48 hour calendar reminder to follow up with lender to confirm no problem with docs. Lender Draws docs and sends to escrow Send 9 to client to confirm doc signing and to expect call from escrow Escrow Calls client to arrange doc signing Set reminder night before doc signing to confirm with escrow doc signing and remind client Request updated Estimated HUD and Lenders Instructions from Generate final C2 broker disclosures, i.e. final GFE, MLDS, etc Send final C2 Broker disclosures to escrow to be signed at same time as Loan Docs Client Signs docs with notary (LO should attend too) Sends 10 to client escrow to confirm docs arrived at lender (Get tracking #) escrow to obtain C2 Broker disclosures signed by client, i.e. final GFE, final MLDS, etc DATE WHO FUNDING NOTES Reviews Loan Docs Follow up with lender for any outstanding Funding Conditions (if Lender hasn t notified you) Requests funding Confirms funding with lender and escrow.
4 C2 Financial File Flow Checklist Page 4 of 5 DATE WHO FUNDING (CONT) NOTES Send 11 to client confirming funding Requests Recording Confirmation. Requests Final docs from escrow, i.e. Final HUD, Broker Check, Note/Deed) Reviews Loan Docs Follow up with lender for any outstanding Funding Conditions (if Lender hasn t notified you) POST FUNDING NOTES Stack File and submit to C2 for payment Keep confirmation of receipt to verify C2 received file. Set 48 hour calendar reminder to follow up with C2 in event don t hear back POST FUNDING MEETING (CLIENT) NOTES Provide client with binder of note, deed, final HUD, appraisal and credit report Address any misc questions, when do I make first payment, to whom a Survey Link to client for anonymous feedback Ask client for referrals Ask them to make a posting on Yelp or Angie s List Add client to your monthly newsletter list Set calendar reminder to follow up in 2 weeks just to check in. (A very appreciated touch) Set calendar annual reminder to touch base once a year POST FUNDING MEETING (REALTORS) Touch base with Realtors to see if were satisfied and ask for referrals Send thank you a Survey Link to client for anonymous feedback Add Realtor to your monthly newsletter list Ask Realtor if you can make a presentation to their office on your process, testimonials, etc
5 C2 Financial File Flow Checklist Page 5 of 5 Misc Notes:
NEVADA COUNTY PROCESSING SERVICES DBA J AND J PROCESSING SPECIALISTS
NEVADA COUNTY PROCESSING SERVICES DBA J AND J PROCESSING SPECIALISTS BELOW IS A REFERENCE GUIDE FOR YOU TO USE WHEN YOU ARE WORKING WITH OUR STAFF ON YOUR FILE. Stage Getting your NEW file in line for
More informationDisclosure Specialist Responsibilities. Lock Procedures. Processor Responsibilities. Appraisal Ordering
FHA 203K Streamline - Policies & Procedures FHA 203K Streamline will now be underwritten and funded in house. These applications should be originated in Mortgage Builder under the FHA203K-SR program code.
More informationLOAN SUBMISSION PROCEDURES
INTRODUCTION Brokers upload or manually enter data files and required documents via the website. Data files and documents submitted prior to 2:00 pm CT (Birmingham Fulfillment Center) or 4:00 p.m. PT (San
More informationMortgage Origination Support Services
Mortgage Origination Support Services Loan Origination Support 1. Inbound Calls/Outbound Calls /Email for prospecting clients looking to refinance or purchase house. Complete Pre- Qualification form and
More informationRESPA Training Good Faith Estimate (GFE) & Settlement Statement HUD-1
RESPA Training Good Faith Estimate (GFE) & Settlement Statement HUD-1 2013 Rushmore Loan Management Services LLC. All Rights Reserved. 1 REAL ESTATE SETTLEMENT PROCEDURES ACT RESPA NEW RULE TIMELINE NOVEMBER
More informationPerformance Experts B U S I N E S S B A L A N C E L I F E
The Perfect Loan ProcessThe Perfect Loan Process 1. ACTION = LOAN CONSULTANT Initial client phone call Under this system, the Loan Consultant takes the initial client phone call and completes the database
More informationColorado Housing and Finance Authority (CHFA) CHFA HomeAccess sm Second Mortgage Loan Instructions for Completion of Documents
page 1 of 6 Colorado Housing and Finance Authority (CHFA) CHFA HomeAccess sm Second Mortgage Loan Instructions for Completion of Documents The Instructions below are provided to assist CHFA s Participating
More informationYour Home Loan Planner. A step-by-step guide so you know what to expect from application to closing
Your Home Loan Planner A step-by-step guide so you know what to expect from application to closing Inside this planner At Bank of America, our goal is to help make the home loan process as clear and informative
More informationCompleting the New HUD-1 Settlement Statement
Completing the New HUD-1 Settlement Statement The new HUD-1 Settlement Statement ( HUD ) is designed to correlate closely to the new GFE, allowing borrowers to see how the estimate settlement costs disclosed
More informationHUD-1 CHANGES. HUD-1 form. www.rgtc.com
2010 HUD-1 form Highlights New HUD-1 (HUD-1 ver. 2010) is required on all RESPA regulated transactions (residential refinances, residential purchases) beginning 1/1/2010. New HUD-1 adds a new page (page
More informationLending Guide. Section 400 Loan Submission & Standards
General Brokers have the option to submit loans to Rushmore Home Loans, a division of Rushmore Loan Management Services LLC (Rushmore) for underwriting via e-mail, Rushmore s IQ2 System, or courier/mail
More informationThe Impact of Fraud on the Real Estate Industry
The Impact of Fraud on the Real Estate Industry (insert name) PREP Chapter Presenter s name Location of meeting Date Program Goal: To explore the perception of real estate fraud at the local level and
More informationG. Property Location H. Settlement Agent: name, address. I. Settlement Date:
A. HUD-1 Settlement Statement U.S. Department Of Housing And Urban Development OMB No 2502-0265Computer form published by Law Disks, www.lawdisks.com B. Type Of Loan: 6. File Number 7. Loan Number 8. Mortgage
More informationAppendix C: HUD-1 Settlement Statement
Appendix C: HUD-1 Settlement Statement HUD-1 Settlement Statement The Settlement Statement, or HUD-1 Form, details the exact breakdown of all the money paid or received by both the buyer and the seller.
More informationPlease be sure to only initial below the description of the category of how you would like to do business with AFR.
Dear Lending Partner, It is our pleasure to introduce the different ways you can do business with American Financial Resources Wholesale and Correspondent Lending Divisions. To better serve you, you will
More information- WHOLESALE - Summary of Procedures
- WHOLESALE - Summary of Procedures Welcome to Wintrust Mortgage Corporation s Wholesale Lending Program! We look forward to exceeding your expectations while serving your wholesale needs. To ensure you
More informationSubmitting a loan to Freedom Mortgage through our Banking channel
Submitting a loan to Freedom Mortgage through our Banking channel Account Executive: Zaida Dykes at Freedom Mortgage (760) 500-9743 cell (866) 861-3500 office www.freedomwholesale.com FHA ID 7515901820
More informationPage One of Settlement Statement A. U.S. Department of Housing B. Type of Loan and Urban Development 1. [ ] FHA 2. [ ] FMHA 3. [ ] Conv. Unins.
Page One of Settlement Statement A. U.S. Department of Housing B. Type of Loan and Urban Development 1. [ ] FHA 2. [ ] FMHA 3. [ ] Conv. Unins. 4. [ ] VA 5. [ ] Conv. Ins. 6. File Number 7. Loan Number
More informationShort Sales Suggestions and Practices. Listing Agent
Short Sales Suggestions and Practices Listing Agent Disclaimer: The information provided in this document is not intended to be a substitute for or provide legal advice to the agent and brokers or buyers
More information2. Research Sales Activity from MLS and public records databases
Have you ever wondered what your Realtor does for you? Below are many of the items that, as Realtors, we carry out to help facilitate your transaction. Not all of these are applicable to every transaction
More informationYour home financing process checklist
Your home financing process checklist As you prepare to purchase a home or refinance your loan, it s important to know what to expect along the way. Here, we ve outlined some of the general steps in the
More informationTRID FAQs: You Asked. We Answered!
TRID FAQs: You Asked. We Answered! 1. Category Question Answer 2. Common Terms and LDW LDWholesale Definitions 3. Common Terms and Loan Estimate (LE) Replaces the GFE and TIL Definitions 4. Common Terms
More informationThe Final RESPA Rule
The Final RESPA Rule GFE 2 GFE Triggers borrower s name Social Security number property address monthly income house value or best estimate amount of loan & any other information 3 GFE General provided
More informationWe have a plan to make yours easier. The Citizens Guide to Construction-to-Permanent Financing
We have a plan to make yours easier. The Citizens Guide to Construction-to-Permanent Financing Table of Contents How it works 3 Getting started 4 The construction-to-permanent loan process 5 The construction
More informationAre you planning to use a Reverse Mortgage to Purchase a Home? Then the following checklist will be very handy.
Are you planning to use a Reverse Mortgage to Purchase a Home? Then the following checklist will be very handy. 1) The sale must be an Arm s Length Transaction which means that you must be buying from
More informationHECM Short Sale Packet
Thank you for contacting Financial Freedom, a division of CIT Bank, N.A. ( Financial Freedom ) regarding a potential short sale. All of the guidelines and requirements needed to submit a complete short
More informationGood Faith Estimate (GFE)
OMB Approval No. 2502-0265 Good Faith Estimate (GFE) Name of Originator Originator Address Borrower Property Address Originator Phone Number Originator Email Date of GFE Purpose Shopping for your loan
More informationLine 700: This line should reflect a calculation of the commission to be paid.
Section L: The Second Page of the HUD-1 Section L appears on and is comprised of the second page of the HUD-1. The two columns reflect the settlement charges to both the Borrower(s) and Seller(s). The
More informationREQUIREMENTS LETTERS
REQUIREMENTS LETTERS 1) ASSUMPTION OF LOAN (Home Loans) 2) ASSUMPTION OF LOAN (Death of Sole Obligor) 3) ASSUMPTION OF LOAN (Business Loans) 4) SUBSTITUTION OF COLLATERAL 5) SUBORDINATION OF COLLATERAL
More informationHow to do Business with Endeavor America
GENERAL... 2 LENDER IDS... 2 FEES... 2 LOSS PAYEE AND MORTGAGEE CLAUSE... 2 REQUEST AND EASY LOGIN... 2 SUBMISSION REQUIREMENTS... 3 TURN TIMES... 4 DISCLOSURES... 5 DISCLOSING A NEW FILE... 5 CASE NUMBERS...
More informationSierra Lending Group LLC Document Check List
Sierra Lending Group LLC Document Check List The following documents will be needed for full credit approval: Application 1. Fully completed and signed initial 1003. Please make sure to provide all assets
More informationSUBORDINATION REQUIREMENTS
THIS COMMUNICATION IS FROM A DEBT COLLECTOR. THIS IS AN ATTEMPT TO COLLECT A DEBT AND ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE. SUBORDINATION REQUIREMENTS This communication is in response
More informationFile Retention Brokered and Mini Correspondent Loans
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
More informationReference for Closing Agents To Provide to Lender Customers. Excerpts from RESPA Rules and FAQ s
Reference for Closing Agents To Provide to Lender Customers Excerpts from RESPA Rules and FAQ s This Reference document may assist closing agents as it includes frequently asked questions related to compliant
More informationHow To Get Your Loan Started:
Dear Broker: We offer timely and accurate processing of all residential loan types (Conventional, ALT-A, FHA and VA). We offer years of processing experience along with personalized, competent service
More informationA consumer guide to. insurance INSURANCE ADMINISTRATION
A consumer guide to Title insurance INSURANCE ADMINISTRATION Table of Contents Introduction 1 What Is Title Insurance? 1 Who Is Protected By Title Insurance? 1 How Is A Title Insurance Policy Different
More informationHome Buyer s Guide. Bayarena. Paul. Austin Capital Mortgage. www.texasmortgagelender.com
Austin Capital Mortgage www.texasmortgagelender.com Home Buyer s Guide Paul Bayarena Home Purchase Guide and Texas Mortgage Loan A mortgage loan is by far the largest loan that many of us will take on
More informationTILA RESPA Integrated Disclosures. On October 3 rd, life as we know it will change forever. One of the new forms is.
TILA RESPA Integrated Disclosures The Loan Estimate and Miscellaneous Requirements Lynne Murphy Breen, Esquire Sue Ellen Rogal, Esquire September 16, 2015 On October 3 rd, life as we know it will change
More informationChicago Title Short Sale Processing Unit
Chicago Title Short Sale Processing Unit Let us take the stress out of your short sale transactions. Use your valuable time wisely, while we expedite your short sale closings. No additional fees! Here
More informationChanges to Mortgage Loan Closing Process
Changes to Mortgage Loan Closing Process 2015 Iowa Title Guaranty Settlement Conference Presented by: Ronette Schlatter, CRCM 1 Background Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA)
More informationWells Fargo Settlement Agent Communications
Wells Fargo Settlement Agent Communications News for Wells Fargo Settlement Agents September 14, 2015 Wells Fargo says thank you! When the Consumer Financial Protection Bureau (CFPB) announced the TILA
More informationHOMEBUYER S GUIDE. Know what it takes to buy your first home
HOMEBUYER S GUIDE Know what it takes to buy your first home homebuyer s guide If you re thinking about buying a home, we say congratulations. Most likely, it s the biggest purchase decision you ve made
More informationPresented by TREC Instructor: Laura Perry, Attorney TREC course: 7748
Presented by TREC Instructor: Laura Perry, Attorney TREC course: 7748 Comprehensive Outline Say Goodbye to the HUD1 and GFE on October 1 st, 2015 (or Hello Loan Estimate and Closing Disclosure) Opening
More informationWesLend Financial Mortgage Corporation. Secondary Marketing Lock Policies
WesLend Financial Mortgage Corporation Secondary Marketing Lock Policies 4 26 13 1 of 7 Page 2 GENERAL INFORMATION 3 2.1 Rate Sheets 3 2.1.1 Intra-Day Price Changes 2.2 Lock Desk 2.2.1 Lock Desk Hours
More informationFinancial Regulatory Reform: The New Rules on Loan Originator Compensation
Financial Regulatory Reform: The New Rules on Loan Originator Compensation 1 Introduction NOTICE: This information is not intended to be used as legal advice to any person or entity. The information contained
More informationin the Real Estate Transaction
The Critical Role of the REALTOR in the Real Estate Transaction Listed here are nearly 200 typical actions, research steps, procedures, processes, and review stages in a successful residential real estate
More informationTRID. What are the Timing Requirements for Revisions to a Loan Estimate?
TRID What is TRID? TRID is an acronym for TILA- RESPA Integrated Disclosure (also referred to as the TILA-RESPA Rule) and applies to most closed-end Borrower credit transactions secured by real property.
More informationThe New RESPA Closing Process
The New RESPA Closing Process Presented by Thomas G. Cullen Managing Attorney Wisconsin Operations Attorneys Title Guaranty Fund, Inc. Roman Reynolds Member Services Representative Member Sales and Support
More informationBorrow Wisely with these Keys: Local servicing Pre-approvals Competitive interest rates Personal service Tailored loan programs*
Your Home Financing Process Checklist As you prepare to purchase a home or refinance your loan, it s important to know what to expect along the way. Here, we ve outlined some of the general steps in the
More informationSUBMITTING AN ACCURATE GOOD FAITH ESTIMATE - INTRODUCTION... 1 ALL LOANS... 1 NAME OF ORIGINATOR... 1 BORROWER... 1 IMPORTANT DATES...
SUBMITTING AN ACCURATE GOOD FAITH ESTIMATE - INTRODUCTION... 1 ALL LOANS... 1 NAME OF ORIGINATOR... 1 BORROWER... 1 IMPORTANT DATES... 2 SUMMARY OF YOUR LOAN... 3 ESCROW ACCOUNT INFORMATION... 4 SUMMARY
More informationChapter 5. How to Process VA Loans and Submit Them to VA Overview
Chapter 5. How to Process VA Loans and Submit Them to VA Overview In this Chapter This chapter contains the following topics. Topic Topic name See Page 1 Refinancing Loans 5-2 2 Processing Procedures 5-3
More informationCorrespondent Lender Seller Guide
Correspondent Lender Seller Guide Contents I. Requirements of the Correspondent... 2 A. General Requirements... 2 B. Compliance Requirements... 2 II. Loan Delivery to Correspondent Lending Division...
More informationLoan Estimate. Loan Terms. Projected Payments. Costs at Closing. Save this Loan Estimate to compare with your Closing Disclosure.
Loan Estimate DATE ISSUED APPLICANTS PROPERTY SALE PRICE Loan Terms Save this Loan Estimate to compare with your Closing Disclosure. LOAN TERM 30 years PURPOSE Purchase PRODUCT 5 Year Interest Only, 5/3
More informationDodd Frank Act Mortgage Regulations Implementation Gap Analysis
POLICY CHANGES POL1 POL2 POL3 POL4 POL5 POL7 POL8 HPML & Reg B Appraisals HPML Appraisals Consumer (MH) Commercial & other consumer lenders compensation Tellers/Retail referral program Policy and/or SAFE
More informationTo Buy Your Dream Home... Step by Step
To Buy Your Dream Home... Step by Step Compliments of AZ Peak Realty Rule #1 Seek good Advice! How To Find and Own Your Best Home Choice Homes-Phoenix-AZ.com azpeakrealty.com... info@azpeakrealty.com 602-931-1010
More informationFirst Mortgage Documents User Guide 139
HUD 1 Settlement Statement Line instructions General Instructions Information and amounts may be filled in by typewriter, hand printing, computer printing, or any other method producing clear and legible
More informationINTERVIEW CHECKLIST for Refinances
INTERVIEW CHECKLIST for Refinances The following will be needed to complete your loan application. As you gather this information, place a check mark beside the items collected. Your loan request can be
More informationBroker Compensation Overview
Broker Compensation Overview Paid Pid by either the Borrower or the Lender, but not both. Lender paid compensation is: Calculated as a percentage of the loan amount according to the Compensation Agreement
More informationWhen do I have to start following the TILA-RESPA rule and using the new Integrated Disclosures?
............................................................................................. Overview of the TILA-RESPA Rule.............................................................................................
More informationFor your convenience, we can schedule an appointment at one of our offices or by telephone whichever is most convenient for YOU!
Dear Client, Thank you for allowing me to provide you with information regarding s mortgage lending programs and services. Please take your time and review the enclosed material. If you have any questions,
More informationNew GFE/HUD-1 Mortgage Brokers Really Need to Know This Stuff
United Wholesale Mortgage 2009 RESPA Webinar New GFE/HUD-1 Mortgage Brokers Really Need to Know This Stuff November 18, 2009 Phillip L. Schulman, Esq. phil.schulman@klgates.com 202-778-9027 DC-1381985
More informationUNDERSTANDING THE LOAN ESTIMATE
The following breaks down the Loan Estimate by section with examples from Encompass followed by official commentary. Also attached, is a copy of a completed Loan Estimate form provided by the Encompass..
More informationNotes on the New Settlement Sheets
Notes on the New Settlement Sheets The new GFE and HUD-1 forms are required after January 1, 2010. Settlements after January 1, 2010 with the old GFE are done on the old HUD-1. Settlements before January
More information2479 South Lake Park Blvd. West Valley City, UT 84120 801-902-8200 801-902-8327 - fax www.utahhousingcorp.org
2479 South Lake Park Blvd. West Valley City, UT 84120 801-902-8200 801-902-8327 - fax www.utahhousingcorp.org MORTGAGE BANKING STAFF Deon Spilker Mortgage Banking Director (801-902-8256) dspilker@uthc.org
More informationVeteran s Affairs Appraisals Orders and VA Appraiser Payments for Wholesale
Veteran s Affairs Appraisals Orders and VA Appraiser Payments for Wholesale (Non-Delegated is not permitted to use New Penn Sponsor Identification Number for VA Appraisals. Sponsor Identification field
More informationSingle Family Bond Program Lender Training PROGRAM OVERVIEW
Single Family Bond Program Lender Training PROGRAM OVERVIEW What this program ISN T NOT A DOWN PAYMENT ASSISTANCE PROGRAM NOT FOR BUYERS WITH POOR CREDIT DOES NOT PROVIDE A SUBPRIME PRODUCT NOT FOR LOW
More informationFinancing a Home in the United States
Financing a Home in the United States PHH Home Loans relocation service guides you through the United States home financing process and we will work with you and your company s relocation department to
More informationTILA RESPA Integrated Disclosure
FEBRUARY 7, 2014 TILA RESPA Integrated Disclosure H-25(E) Mortgage Loan Transaction Closing Disclosure Refinance Transaction Sample This is a sample of a completed Closing Disclosure for the refinance
More informationVA IRRRL Offering 5/20/14
VA IRRRL Offering 5/20/14 What is an IRRRL? IRRRL stands for Interest Rate Reduction Refinance Loan An IRRRL is a VA guaranteed loan made to refinance an existing VA guaranteed loan, generally at a lower
More informationCOMPLIANCE AUDIT. Mortgage Computer Ogden, Utah
OMPLIANE AUDIT Mortgage omputer Ogden, Utah ompliance Audit ontents - Updated September 24, 2013 File Organization... 5 Underwriting... 7 Underwriting Worksheet... 8 Income - Employment... 10 Deposits
More informationHome Equity Line of Credit Application
Home Equity Line of Credit Application Home improvement. Your child s education. Bill consolidation. A dream car or vacation. Tap into your home s equity and we can help! Life matters. call: 534.4300 /
More informationEXPLANATION OF THE HUD-1 Settlement Statement
EXPLANATION OF THE HUD-1 Settlement Statement The Settlement Statement is the financial picture of the closing. All money deposited into the escrow account and the disbursals out of the escrow account
More information12.19.8.2 SCOPE: All mortgage loan companies licensed by the state of New Mexico. [12.19.8.2 NMAC - Rp, 12 NMAC 19.2.8.2, 12/15/08; A, 08/31/09]
TITLE 12 CHAPTER 19 PART 8 TRADE, COMMERCE AND BANKING MORTGAGE LENDING MORTGAGE LOAN COMPANY REQUIREMENTS 12.19.8.1 ISSUING AGENCY: Financial Institutions Division of the Regulation and Licensing Department.
More informationAbility to Repay/Qualified Mortgages FAQ
The Ability to Repay (ATR)/Qualified Mortgages (QM) provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act require lenders to make a reasonable, good faith determination of a borrower
More information1100 Section Title Services and Title Insurance The Comparison page (HUD Page 3) Item #4 / HUD page 2, line 1103
1100 Section Title Services and Title Insurance The Comparison page (HUD Page 3) Item #4 / HUD page 2, line 1103 In general, the borrower pays for the loan policy. The sales contract or agreement determines
More informationAppendix B: Good Faith Estimate
Appendix B: Good Faith Estimate Good Faith Estimate The Real Estate Settlement Procedures Act, commonly referred to as RESPA, requires that within three business days of receipt of the loan application,
More information7 business days after loan estimate delivery is the waiting period for consummation (loan closing) after the Loan Estimate Delivery
TRID INFORMATION Delivery of the Loan Estimate The Loan Estimate must be placed in the mail or delivered no later than 3 business days after TRID application is submitted. Helpful Hint: Business days for
More informationNovember 13, 2013 Mortgagee Letter 2013-41
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000 ASSISTANT SECRETARY FOR HOUSING- FEDERAL HOUSING COMMISSIONER November 13, 2013 Mortgagee Letter 2013-41 To All -Approved Lenders Subject
More informationYou ve Applied For Your Mortgage. What Happens Next? A Simple Guide To Help You Through The Mortgage Process
You ve Applied For Your Mortgage. What Happens Next? A Simple Guide To Help You Through The Mortgage Process Four Easy Steps You have found the right home at the right price in the right location. Now
More informationThe Transaction List. Pre-listing activities. Listing appointment presentation
The Transaction List A few years ago, a group of REALTORS in Florida compiled a detailed list of all the duties a REALTOR performs to sell a home. From listing to closing, the list grew to a staggering
More informationEXPAND HOMEOWNERSHIP PROGRAM
EXPAND HOMEOWNERSHIP PROGRAM Administrator Guidelines Published: March 12, 2015 Revised March 13, 2015 Updates are shown on Page 4! FANO EXPAND HOMEOWNERSHIP PROGRAM - Administrator Guidelines Page 2 Time
More informationTILA-RESPA Integrated Disclosure (TRID) Correspondent Division. Overview. Loan Estimate (LE) Key points. Topic The Regulation
Overview The Regulation The Consumer Financial Protection Bureau (CFPB) issued a final rule amending Regulation Z (Truth in Lending Act) and Regulation X (Real Estate Settlement Procedures Act) to integrate
More informationSteps in the Construction Loan Process
Steps in the Construction Loan Process The following information is provided as a general guide to the construction loan process. For more specific information, please contact your lender and/or attorney.
More informationThe Real Estate Transaction in 181 Steps What Your REALTOR Does for You
The Real Estate Transaction in 181 Steps What Your REALTOR Does for You Surveys show that many homeowners and homebuyers are not aware of the true value a REALTOR provides during the course of a real estate
More information2. Send seller a written or e-mail confirmation of listing appointment and call to confirm
Nearly 200 Activities a Real Estate Agent Performs before, during and after your transaction Pre-Listing Activities 1. Make appointment with seller for listing presentation 2. Send seller a written or
More informationPurchase Funded (Delegated UW)
Lender: Lender Requirements: $250 Application Processing Fee (Non Refundable) Minimum 2 years in business (Housing Finance Agency recommendation needed if less than 2 years) Minimum 2 years history (2
More information!"#$%&%'()#'*+,,#"-&.(*(+,,./0&$/"1()#"0'22
!"#$%&%'()#'*+,,#"-&.(*(+,,./0&$/"1()#"0'22 Congratulations on taking the first step in getting pre-approved for a mortgage with The Dan Keller Group at Hometown Lending! In this packet, you will find
More informationANNOUNCEMENT #09-34, December 29, 2009
ANNOUNCEMENT #09-34, December 29, 2009 To: All Michigan Mutual Brokers Re: RESPA Changes to the Good Faith Estimate and HUD-1 Table of Contents RESPA Changes to Good Faith Estimate and HUD-1 Important
More informationRESPA Reform FAQs. Good Faith Estimate
RESPA Reform FAQs Good Faith Estimate Q. If a loan originator expects to receive compensation from the lender in the form of Yield Spread how is that disclosed on the new GFE? A. All broker fees and compensation
More informationWelcome and thank you for choosing S-Bank! Attached you will find all the necessary forms to take the first step in applying for a mortgage loan.
Welcome and thank you for choosing S-Bank! Attached you will find all the necessary forms to take the first step in applying for a mortgage loan. If you need assistance or when you have completed the forms,
More informationImportant Information Regarding TILA-RESPA Integrated Disclosure (TRID) Rule
Important Information Regarding TILA-RESPA Integrated Disclosure (TRID) Rule Notice to students: If your course contains information on the Truth in Lending Act (TILA) and the Real Estate Settlement Procedure
More informationSettlement. Guide to
Settlement Guide to Mid-States Title of Southwest Virginia is a settlement agency dedicated to being a knowledgeable and practical resource for all parties involved in the real estate closing process.
More informationImpac Mortgage Wholesale TRID Process Flow
Impac Mortgage Wholesale TRID Process Flow What You Need to Know about Impac Mortgage Wholesale s TILA-Respa Disclosure Process Steve Curry SVP Director of Wholesale Business Development Impac Mortgage
More information40 Technology Parkway South, Suite 202 Norcross, Georgia 30092-2906 www.franzen-salzano.com. November 12, 2008
Jennifer L. Dozier Telephone: 770-248-2885, ext. 241 Facsimile: 770-248-2883 e-mail: jdozier@franzen-salzano.com 40 Technology Parkway South, Suite 202 Norcross, Georgia 30092-2906 www.franzen-salzano.com
More informationTILA-RESPA INTEGRATED DISCLOSURE RULE
TILA-RESPA INTEGRATED DISCLOSURE RULE Speakers: David Baghdady, Assoc. State Counsel/AVP, First American Title Ins. Co. Richard Hogan, Vice President and Associate General Counsel, CATIC Jeremy Potter,
More informationHUD s New RESPA Rules for HUD-1: With Q & A
HUD s New RESPA Rules for HUD-1: With Q & A Presented by: Paul McNutt, Jr. General Counsel Title Resources Guaranty Company The Secretary of HUD announced on Nov. 12, 2008, that effective on January 1,
More informationSmart Start Program - Prior Approval Underwriting Submission Checklist
Smart Start Program - Prior Approval Underwriting Submission Checklist For use with Smart Start Loan applications made in connection with the Homeward Bound Purchase Program BORROWER NAME(S): Smart Start
More informationTRID. Loan Estimate and Closing Disclosure Cross-reference Guide 07.01.2015. 2015 Temenos USA. All rights reserved
TRID T I L A-RESPA INTEGRAT E D D I S C L O S U R E S Loan Estimate and Closing Disclosure Cross-reference Guide 07.01.2015 2015 Temenos USA. All rights reserved w: temenos.com/tricomply p: 205.991.5636
More informationOverview The Regulation The Loan Estimate (LE) The Closing Disclosure (CD) Loan Estimate (LE) Application Date LE Responsibility
To support your preparation efforts when implementing the TILA-RESPA Integrated Disclosure (TRID) rule effective for applications dated on or after October 3, 2015, we have created this Helpful Tips for
More informationCityLIFT Oakland/East Bay Program Overview Non-Approved Lender Participation Application
CityLIFT Oakland/East Bay Program Overview Non-Approved Lender Participation Application DUE BY: Monday, December 23, 2013, 5:00 pm. Dear Lender: The Unity Council Homeownership Center (TUC HOC) is administering
More information