How To Get Your Loan Started:

Transcription

1 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 to each of our brokers. Greenbox Loans, Inc. offers its customers quick turnaround at a fraction of the cost of hiring a full-time in-house Sr. Loan Processor. No HR worries and no training required. Whether you are a large mortgage broker needing overflow support during high-volume periods, or a small mortgage broker wanting to reduce in-house expenses..we can help you get your loans to closing quickly. You can originate while we help process and fund your loans. We're committed to building a relationship with you through project ownership, commitment and hard work. We want to see you succeed. At Greenbox Loans, Inc., our goal is to deliver high quality mortgage processing to each of our clients. To achieve this goal, Greenbox Loans, Inc. will be in contact with the borrower. How To Get Your Loan Started: Please upload all following items to through broker user login. Please Broker Admin for any user/password assistance. 1. Complete and submit the Loan Processing Agreement 2. A Fannie Mae 3.2 file 3. Initial application 4. Fee worksheet containing loan fees 5. Executed borrower's signature authorization 6. Submission form completed Within 24 hours of receiving the items 1) Upon receipt of file, we will contact the originator to confirm receipt. 2) Review the loan for completeness 3) Make contact for any missing documentation 4) Disclose File Throughout the loan process, Greenbox Loans, Inc. will maintain communication to ensure a speedy, accurate and compliant loan file. Greenbox Loans, Inc. offers a complete processing package at a flat fee of $295. We are certain that you will value and appreciate all that we do for you.

2 LOAN ORIGINATOR PROCESSING AGREEMENT THIS LOAN PROCESSING AGREEMENT is made and entered into this day in the month of for the year 2015, by and between (company name), a U.S. company hereinafter referred to as "the Company", and Greenbox Loans, Inc. hereinafter where taken together the Parties. WITNESSETH: WHEREAS, the Company is properly licensed and approved to originate and close mortgage loans; WHEREAS GreenBox Loans, Inc. has substantial experience processing mortgage loan applications and is interested in processing mortgage loan applications originated by the Company in accordance with the terms set forth below. NOW, THEREFORE, the parties hereto agree as follows: 1. Loan Processing: The Company may submit loan applications it has originated to Greenbox Loans, Inc. for loan processing for submission of loan files to Greenbox Loans, Inc. as a wholesale lender. Greenbox Loans, Inc. agrees to promptly and diligently process such loan applications in compliance with all applicable laws and regulations. Greenbox Loans, Inc. will make every reasonable effort to ensure that all loan applications are fully processed to be submitted to Greenbox Loans, Inc. wholesale underwriting division. 2. Loan Processing Fees: The Company understands, and agrees to, the fact that the most mutually desirable method of payment of all fees due Greenbox Loans, Inc. accrued pursuant to the terms of this agreement, is by direct payment by the designated closing agent involved in each transaction. By signing this agreement the Company pledges its complete support for this stated method of payment of fees due Greenbox Loans, Inc. at time of closing/funding. 3. Disclosures: Greenbox Loans, Inc. assumes no liability for errors or omissions of third parties on loan application or closing documentation. The Company is solely responsible for verifying closing figures and all documents prior to signing as well as assuring that all loan documents meet state and federal guidelines. Additionally, the Company is responsible for: a) locking the interest rate with Greenbox Loans, Inc. lock desk b) helping gather the missing items from the borrower as outlined on the "missing items list" as provided by Greenbox Loans, Inc. c) forwarding all original documentation to Greenbox Loans, Inc. as requested. 4. Confidentiality: Greenbox Loans, Inc. agrees to treat as confidential the identities of, and all financial information submitted by, all borrowers whose loan applications are being processed, or have been processed, by Greenbox Loans, Inc.

3 5. Termination of Agreement: Either party may terminate this agreement at will. If either party terminates this Agreement, Greenbox Loans, Inc. agrees to promptly deliver to the Company all loan application files currently being processed, and all files for loans that have closed. 6. Non-solicitation: (a) Greenbox Loans, Inc. agrees that it will not solicit any of the borrowers whose loan applications are submitted to Greenbox Loans, Inc. for the purpose of obtaining loans for such persons. Greenbox Loans, Inc. shall not convey or transfer any loan application information to any other company without specific written permission from the Company. (b) The Company and all of its originators/employees agree it will not solicit or utilize processing services from any Greenbox Loans, Inc. contracted processors assigned to The Company for a period of one (1) year from the time of termination of this agreement. 7. Broker Participation: The parties agree and understand Greenbox Loans, Inc. is acting in the role of a contract processor and a wholesale lender and it remains Company s responsibility to comply with any state laws regarding supervision of unlicensed staff. Greenbox Loans, Inc. software allows for constant communication with broker s assigned Greenbox Loans, Inc. processors to facilitate broker supervision of work flow. 8. Independent Contractor: The Company acknowledges and agrees that Greenbox Loans, Inc. is not an employee of the Company and is an independent contractor. Greenbox Loans, Inc. may, from time to time, fill out order forms on behalf of the Company in order to secure appraisals, credit reports, title insurance, surveys, Home Owners Certificates and other documents necessary to perform its processing obligations. It is understood that Greenbox Loans, Inc. orders these documents only as a courtesy to the Company, and the Company agrees to accept financial responsibility for any and all documents ordered in connection with the processing of their loan applications. FEE SCHEDULE FULL SERVICE FEE: $ *Greenbox Loans, Inc. does not assess charges for loans that do not close.

4 IN WITNESS WHEREOF, the Parties have entered into this Agreement as of the date entered below. Company Name: Address: Tel#: Greenbox Loans, Inc. Signature: Print Name: Title: Date: Fax# Signature: Print Name: Title: Date:

5 Greenbox Required Submission Checklist Broker Name: Broker NMLS #: L/O Name: L/O NMLS#: Loan #: Contact Person: Address: Phone #: Fax #: Greenbox May Contact Borrower Directly: Yes No Loan Information ( X the box to the left of the primary wage earner.) Borrower Name 1: Address 1: Borrower Name 2: Address 2: Address (Street): Address (City, State, Zip): Property Type: SFR 2-unit 3-4 unit Condominium PUD Modular Home Estimated Value: Impounds: Yes No Broker Compensation: % Lender Paid: % Borrower Paid: % Origination Information Disclosures to be Sent Through: Electronic E-signature Fedex Shipped Underwriting Information Loan Amount: Initial Rate: % LTV Loan Purpose: Reason why you are submitting with this program: Purchase Rate and Term Refinance Cash-Out Refinance Loan Product Type: Conv FHA VA Homepath Other: Loan Term: 30 year fixed 15 year fixed LIBOR ARMS: 5/1 7/1 10/1

6 Loan Program: Portfolio ARM (700-FD) Foreign National (700-FN) 12 Months Personal/Business Bank Statements ( BS) Asset Depletion (1000-AD) One Year Tax Return (1000-AID) Full Doc Jumbo (1000-FDJ) 1 Day Out of Foreclosure (1000-RH) 3 Months Bank Statements (1700-3BS) Full Doc Jumbo (1900-FDJ) High Reserve Jumbo (1900-FDJ-HR) Qualify Based on Rental Income (2200-INV) Qualify Based on Rental Income (2200-INV-FN) Tier 1: Older Foreclosure (2300-EA1) Tier 2: Recent Foreclosure (2300-EA2) Full Doc Jumbo NO MI ( FDJ-NOMI) Full Doc 5ARM (2400-FD-5ARM) 24 Months Bank Statements 5ARM ( BS-5ARM) Full Doc Non-Owner Occupied (2400-FD-NOO) Full Doc Non-Owner Occupied ( BS-NOO) Non-Prime Foreclosure 2+ Yrs (2400-NP) Non-Prime 24 Months Bank Statements (2400-NP-24BS) Non-Prime Recent Foreclosure (2400-RH) Non-Prime Recent 24 Months Bank Statements (2400-RH-24BS) Early Access (2600-EA) Asset Inclusion (2600-AI) Alt-Income (2600-AID) Investor Program (2600-INV) Non-Warrantable Condominiums (2600-NWCondo) Program Desc: Doc Type: Occupancy: Owner Occupied 2 nd Home Investment Escrow Company Escrow: Yes No Contact Person: Phone #: Escrow Company: Address: Required Loan Documents Check the Appropriate Box for Documents Submitted Application/Credit Docs 1003(final) 1003(initial) 1008 Initial Credit Report Credit supplements Inquiries/Credit LOEs AUS Results Income Docs Income Calculation Worksheet/ATR Paystubs W2s 1099s Personal Tax Returns Business Returns P&L Statement Award Letters Full VOE Trust Agreements Asset Docs Two-months Bank Statements Earnest Money Deposit Gift Letter Source of Funds for Large Deposits Other: Appraisal/Collateral Docs Appraisal Purchase Contract Counter Offers Title Documents/Title Insurance Commitment or Prelim CPL E&O from Title Plat Map Property Tax Printout Escrow Escrow Instructions Vesting Wire Instructions Estimated HUD Homeowner s Insurance Evidence of Insurance Flood Zone Determination Flood Certificate Flood Insurance Binder Properties(Other) Lease/Rental Agreements Insurance Property Taxes Mortgage Statement

7 Contact Information Contact Person (Acct. Ex.): Phone #: Title Company: Address: Real Estate Agent: Phone #: Address: *Please Note all Bank Statement Programs Require a Bank Statement Worksheet* Following Information is Needed to Expedite Disclosures File Submission Checklist Initial application Fee worksheet containing loan fees Executed borrower s signature authorization form Submission form completed I affirm that all answers and information submitted in this request form are true and correct, and that Greenbox Loans, Inc. is entitled to rely on the information contained herein. I hereby authorize Greenbox Loans, Inc. to make a credit determination on this file based on the information above and the information contained in the attached credit package. Contact Name: 1 Signature: 1 Date: 1