Loan Originator Anti Steering/SAFE Harbor disclosure

Transcription

1 Loan Originator Anti Steering/SAFE Harbor disclosure The following options have been offered to the consumer for each type of transaction in which the consumer expressed an interest. (A type of transaction refers to whether the loan has an annual percentage rate that cannot increase, an annual percentage rate that may increase, or is a reverse mortgage loan.) The applicant was presented with and was able to choose from the following loan options: Options Lowest Rate Lowest Rate Without Any Specified Features* Interest Rate Points & Fees None. Features* Lowest Total Dollar Amount for Origination Points or Fees and Discount Points *Identifies if loan has one or more of the following features: negative amortization, prepayment penalty, interest-only payments, balloon payment in the first 7 years of the life of the loan, a demand feature, shared equity, or shared appreciation (or for a reverse mortgage, a prepayment penalty, shared equity or shared appreciation). If checked, the applicant also was advised of the following considerations and/or options: Options Lowest Rate Lowest Rate Without Any Specified Features* Lowest Total Dollar Amount for Origination Points or Fees and Discount Points Other Options Interest Rate Points & Fees Considerations Features* Considerations *Identifies if loan has one or more of the following features: negative amortization, prepayment penalty, interest-only payments, balloon payment in the first 7 years of the life of the loan, a demand feature, shared equity, or shared appreciation (or for a reverse mortgage, a prepayment penalty, shared equity or shared appreciation). Borrower Date Borrower Date By signing below the Loan Originator believes in good faith that the consumer likely qualifies for the loan options presented above. Loan Originator Date MLO NMLS #

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4 Life Ceiling Cap Interest Rate Adjustment Dates 3/1 ARM 6% over initial Note rate 5/1, 7/1 and 10/1 ARMS: 5% over initial Note rate First Adjustment Date: interest rate is fixed for first 3/1 ARM: 36 months 5/1 ARM: 60 months 7/1 ARM: 84 months 10/1 ARM: 120 months After initial fixed period, interest rate may adjust annually 5% over initial Note rate First Adjustment Date: interest rate is fixed for the first: 1/1 ARM: 12 to 18 months 3/1 ARM: 36 to 42 months 5/1 ARM: 60 to 66 months After initial fixed period, interest rate may adjust annually ARM Loan Program Comparison

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10 Limited Project Review Condo Questionnaire Address: 1) Is 20% of the total square footage for the project used for commercial purposes? 2) Are there any Deed Restrictions? What are they? Is the property Fee Simple Ownership? 3) Are more than 15% of the total units 30 days past due on their homeowners? 4) Is the project managed as a hotel or motel? 5) Are any of the units rented on a daily basis? 6) Does the Homeowners Association own or operate any non- incidental business such as but not limited to a restaurant, a spa, a health club? 7) Does any entity own greater than 10% of the units? 8) Is the condo Project 100% complete? 9) Is the Homeowners Association named in any litigation? Signature Name of Association Address Phone

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12 Borrower(s) Name: Property Address: HVCC Borrower Appraisal Disclosure Under the Home Valuation Code of Conduct, the appraisal of your property subject to this mortgage loan request must be ordered by your lender. You will be required to pay for the appraisal of your property. The appraisal fee may be non- refundable unless otherwise required by law. The collection of this appraisal fee does not guarantee a loan approval and is not a commitment to lend. You are entitled to receive a copy of your property appraisal report no later than three business days prior to the closing of your mortgage loan transaction. If you do not receive a copy of your appraisal report at least three business days prior to the loan closing date you will be required to postpone your closing for three business days from the date you received the appraisal. At your discretion, the following two options are available to you at this time. Please select from the following options: I request that my appraisal be made available to me, regardless of when the closing may be scheduled to take place. I understand I am required to have a minimum of three business days after receipt to review my appraisal report. I do not wish to waive the right to those three business days. I request that my appraisal be made available to me, regardless of when the closing may be scheduled to take place. I hereby waive my rights to have a minimum of three business days after receipt to review my appraisal report. Borrower Date Co- Borrower Date Borrower address to forward appraisal This is to certify that the appraisal was delivered to the borrower via (Mail)(Fax)( ) on by Date Processor

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15 Identified Title Services (Settlement/Closing) and Title Insurance Providers List Norcom Mortgage allows you to shop for certain third party settlement services.the federal Real Estate Settlement Procedures Act ( RESPA ) requires us to provide you with a written list of settlement service providers at the time we provide the Good Faith Estimate. You are not required to use the settlement service providers listed here. Identified Provider for Title Services-Settlement/Closing (Block 4) Hartford National Title, Inc 344 West Main Street Milford, CT # Identified Provider for Title Insurance (Block 5) Hartford National Title, Inc 344 West Main Street Milford, CT Should you choose to use the identified providers listed here, the total charges in blocks 4, 5, 6 & 7 (aggregated) on your Good Faith Estimate cannot change by more than 10%. We encourage you to shop around for these services. Borrower Borrower

16 Intent To Proceed Date of Application: Borrower s Name: Co- Borrower s Name: Property Address: The Undersigned borrower(s) certify that: 1. I / We were provided with an initial Good Faith Estimate within three business days of the application date; 2. My / Our signature below conqirms our intent to proceed with the loan covered by the issued Good Faith Estimate; 3. I / We were not charged any fee prior to the receipt of the Good Faith Estimate other than a credit report fee. This document is not a commitment or guarantee to lend. Its sole purpose is to document the customer s approval for the loan originator to proceed with a requested loan transaction initiated by the Borrower(s). Borrower signature Date Borrower signature Date Loan Originator signature Date Loan Originator Name [print]

17 DOCUMENTATION NEEDED TO SUBMIT 203K STREAMLINE - Estimate of repairs from contractor Must be detailed showing work to be completed and materials to be used cost of materials and cost of labor to be broken out for each repair and contract signed by borrowers and contractor. - Contractor Resume must include business history, type of License held by contractor, at least 3 customer references, Major Suppliers provide credit to contractor - Homeowner/Contractor Agreement fully completed and signed by borrowers and contractor - Copy of Contractor Licenses and Liability Insurance Liability Insurance to show borrower as Cert Holder - Appraisal to include copy of Repair estimate and value of property after improvements have been completed

18 CHANGED CIRCUMSTANCE OR BORROWER REQUESTED CHANGE LETTER Borrowers Name Borrowers Address Borrowers City, State, Zip Code Borrowers Loan Number Property Address Dear Attached is a revised Good Faith Estimate. The revision is a result of the item(s) circled below. 1. You have elected to lock-in your interest rate, which revises one or more of the interest rate dependent charges and terms. Description: 2. Your rate lock expired and you have re-locked your interest rate, which revises one or more of the interest rate dependent charges and terms. Description : 3. The loan request involves a new home purchase (i.e., a home to be constructed or under construction) where settlement is anticipated to occur more than 60 days from when the original GFE was provided. Description: 4. There has been a changed circumstance affecting the settlement costs. Description:

19 5. There has been a changed circumstance affecting the requested loan. Description: 6. You requested changes to the loan identified in the GFE that either change the settlement charges or the terms of the loan. Description: 7. Other change Circumstance Description: I acknowledge that the RESPA REGULATIONS are specific when you re-disclose a GFE; I acknowledge that the above changed circumstance falls within one of the following four categories: 1. Act of God, War, Disaster or other emergency. 2. Information particular to the borrower or transaction that was relied on in providing the GFE and that changes or is found to be inaccurate after the GFE has been provided, which information may include information about the credit quality of the borrower; the amount for the loan, the estimated value of the property or any other information that was used in providing the GFE. 3. New information particular to the borrower or the transaction that was not relied on in providing the GFE; 4. Other circumstances that are particular to the borrower or transaction, including boundary disputes, the need for flood insurance or environmental problems. Please sign below acknowledging these changes. Sincerely, Lender Borrower Date: Borrower Date:

20 Company Name: Rate Lock Originator: Please Circle Or Register Phone: Fax: Last Name First Name Borrower: Co-Borrower: SS#: SS#: Property Address: City, State, Zip: Loan Purpose: Purchase Rate/Term Cash Out Refi: $ Property Tye: SFR Condo Multi Family Occupancy: O/O 2nd Home Investment Product Type: Conventional FHA FHA Streamline Refinance Loan Term: 30 yr 15 yr Other: USDA HARP circle DU LP Waive Tax Escrow: FICO Notes Closing Date Base Loan Amt. Comp Plan FHA MIP Amt. Total Loan Amt. Value/Purch Price Lock Term Rate LTV CLTV Funding Price Lock Date: Expiration Date: Funding Price: Confirmation: Extension Request Period: Cost: Expiration Date: Adjusted Price Confirmation: Lock Desk Rates/Pricing Subject to Change Without Notice Who is your Account Executive? Sheli Flieger [email protected] P:(860) ext. 14 Wes Horbatuck [email protected] P:(860) ext. 123

21 Fee Sheet Rates/Pricing Subject to Change Without Notice Broker: Borrower: Co-Borrower: Loan Officer Name/ Contact: Estimated Close Date: Attorney Name: Attorney Phone: Attorney Purchase Refi Borower Paid Lender Paid Please Note: if Norcom collects borrower paid compensa5on you will be held to your Compensa5on Agreement with Norcom Items Charged Rate Loan Amount Borower POC Items Paid to Paid to Charged Paid in advance Norcom Partner Total Points to Borrower Discount % Broker Compensation Flat Fee Underwriting Credit Report(s) Appraisal Final Inspection $ $ Escrow Waiver.25% Total Amount Due Loan Officer Signature: Norcom Phone #:

22 ***Once all documents are received Norcom closing department will contact attorney to schedule the closing*** Borrower: Date: Attorney: Phone: Fax: ****ALL DOCUMENTS MUST BE SUBMITTED PRIOR TO CLOSING **** Closing Protection letter Title Insurance All Schedules Title Commitment Homeowners Insurance Typed paid receipt Condo Master Certificate of Insurance Payoff letter Taxes Proposed HUD Attorney E&O Insurance Borrower s contents insurance for CONDOS ACH/Wiring instructions MUST have address for receiving loan package Submit all closing docs to: [email protected] via , or by fax to [email protected] via , or by fax to [email protected] via , or by fax to Please note that closing packages come from Norcom via . Funds will be sent via ACH electronically or wire. Please check with your bank to see if your ABA number is different. Make all lender fees on the HUD payable to Norcom Mortgage. All prepaid interest, escrows and lender fees are net funded. After closing, please return original closing document package to Norcom within 24 HOURS OF FUNDING. The loan closes in the name of NORCOM MORTGAGE Insurance Mortgagee/Title Clause: CHFA Mortgagee Clause CHIF Norcom Mortgage Its Successors and/or Assigns ATIMA PO Box 1622 Avon CT Norcom Mortgage and/or Connecticut Housing Finance Authority its successors and/or assign ATIMA P.O. Box / Florence, SC Connecticut Housing Finance Its Successors and/or Assigns ATIMA Connecticut Housing Investment Fund 121 Tremont St Hartford CT ***Once all documents are received Norcom closing Department will contact attorney to schedule the closing*** Norcom use only: Scheduled by Closing Date

23 PROJECT REVIEW COVER SHEET Company: Name of Borrower: Address: Lender Loan #: Investor: Freddie Mac or Fannie Mae Type of Review: (Indicate Type of Review)) Streamline/Limited Established) or New Construction LTV: Type of Occupancy: (CHECK OFF WHAT IS INCLUDED IN PACKAGE) Condominium Questionnaire completed 100% (If the condo provides a Fact Sheet, please transfer information to your company questionnaire and follow up to get any missing answers) General Liability insurance certificate with no less than 1 million dollars coverage Hazard insurance policy with 100% or guaranteed replacement costs for the building HO-6 policy with coverage no less than 20% of condominium units appraised value (if master insurance does not cover walls in) Sufficient Fidelity Bond coverage Flood insurance and certificate, when applicable Budget Appraisal Copy of Sales Contract Declaration/Master Deed, Bylaws, Offering Plan, Articles of Incorporation (Fannie New or Freddie New and Established) Architect or Engineer s Report (New Conversion, less than 3 years)

24 CONDOMINIUM QUESTIONNAIRE Borr Name: Project Name: Property Address: Unit #: City: State: Zip Code: New Project Established 2-4 Unit Conversion 1. Are all units and common areas 100% complete? 2. Number of phases: Number of phases complete: Is subject phase complete? 3. If the project is new construction please provide the original dates of construction: 4. Is construction/renovation complete? (if no, what remains to be completed?) 5. If the project is a conversion please provide the original date built. and the original dates of the conversion:. (If conversion less than 3yrs provide Architect/Engineer s Report); 6. Is this a hotel/motel conversion? Yes No 7. If the project is converted, was it a gut rehabilitation with replacement of all HVAC and Electrical Components: 8. Voting control of the Association Board: Developer Unit Owners (if unit owners please provide date of transfer): 9. Does the project have any moderately priced (affordable) priced units in this development? If yes, how many? Is the subject property considered one of them? 10. Have there been any amendments to the Master Deed, or Declaration of Condo or By-Laws in the last 6 Months? 11. Project: Entire Project Subject Phase Number of residential units in project Number of units sold and closed Number of units under contract Number of units still being marketed Number of units owner occupied (primary and second homes) / / / / /

25 Number of units sold to investors (do not include those developer is still marketing) / Number of commercial units 12. Does commercial space represent more than 20% of the total project square footage?. Is more than 20% of the Association s income from commercial space? 13. Does any one entity, own more than 10% of total units? (if yes, please list them).. For 2-4 unit condos, does anyone own more than one unit? 14. How is title the units held?(fee simple or Leasehold) (If leasehold please provide copies of the lease) 15. Is each unit conveyed by a separate deed? 16. Are there leased recreational or common area facilities? (If yes please provide a copy of the lease) 17. What is the zoning for the condominium? Legal Legal non-conforming 18. Are the utilities separately metered? Yes No 19. Does the project have a rental desk, room service, daily cleaning service? Please list what is applicable 20. Does the project contain non-incidental business operations owned or operated by the owners association such as, but not limited to, a spa, restaurant, health club? If yes please list what is applicable. 21. Does this project have documents on file with the Securities and Exchange Commission or does the project promote unit ownership as an investment opportunity? 22. Is this a common interest apartment project or a community apartment project owned by several tenants-in-common or by a homeowners association in which individuals have an undivided interest in the residential apartment building and land? 23. Are there any units less than 400 square feet? 24. Does the association allow timeshare, segmented ownership or short term rentals? (If yes, please list) 25. How many units are 30 days or more past due on association fees? Does this represent more than 15% of total units? Total amount of past due association fees?

26 26. Is the mortgagee responsible for more than 6 months of unpaid dues/assessments in case of foreclosure? Yes or No 27. Have there been any special assessments in the past two years? Are any special assessments now planned? Please explain in detail if there have been special assessments in the past two years or if special assessments are being planned now. 28. Does the property management team (if there is one) have the authority to draw checks against or transfer from the reserve funds? 29. Are two or more members of the Board of Directors required to sign checks drafted against the reserve account? 30. Are separate bank accounts maintained for the working account and the reserve account with the appropriate controls and does the bank send copies of the monthly statements directly to the HOA? Yes No 31. Are reserve funds for future major repairs held in a segregated reserve fund? If yes what is the current balance $. 32. Do the association documents contain a Right of First Refusal on sales? Leases? If yes please provide the period of time before it expires: 33. Is a lender exempt from the provisions of any Right of First Refusal indicated above? 34. Is the Home Owners Association involved in any lawsuits or pending litigation, or are they party to any arbitration, mediation or other dispute resolution process? Does the dispute involve the safety, structural soundness or habitability of the project? If you answer yes to any of the above please attach a detailed explanation. 35. Insurance Company: Insurance Agent: Phone Number: Fax Number: Address: 36. Does the Association employ an outside property manager? 37. Management Company Name: Agent Name: Fax: Phone Number: Can a management contract be cancelled without penalty or with no more than 90 days notice? NOTE: THIS QUESTIONNAIRE CAN ONLY BE COMPLETED BY AN INDIVIDUAL WHO IS EMPLOYED TO DO SO BY THE HOME OWNERS ASSOCIATION. THE UNDERSIGNED CERTIFIES TO THE BEST OF THEIR KNOWLEDGE THAT THE INFORMATION CONTAINED HEREIN IS TRUE AND ACCURATE.

27 NAME: DATE: SIGNATURE: TITLE: PHONE NUMBER: COST TO COMPLETE QUESTIONNAIRE: $

28 FHA Streamline Worksheet General Eligibility Current Loan FHA? If yes, then proceed with checklist. Reduction in loan term preferred? If yes not eligible must proceed as rate and term refi Seasoning Must have made 6 pymts on existing loan at application date (minimum 210 days from closing to application) Payment History - Less than 12 months no lates - More than 12 months o One 30 day late in previous 12 months o No lates 3 months preceding application Maximum CLTV 100% Fixed to Fixed Mandatory 5% GPM to Fixed total payment* GPM to ARM reduction 203(k) to 203(b) prin, int, & monthly MI ARM to ARM see table pg 2 Fixed to ARM see table pg 2 ARM to Fixed see table pg 2 Investment Prop/Secondary - Not eligible for streamline refi to ARM - Only Streamline WITHOUT Appraisal allowed - Principal balance only may be refinanced. (No interest added in.) Condominiums If project approval has been withdrawn only streamline WITHOUT appraisal allowed. Assets needed to close must be documented 640 Min Score 1

29 Streamline WITHOUT Appraisal Outstanding Prin Bal** - UFMIP Refund = Base Loan (loan limits) + UFMIP (1.00%) = New Max Loan Amt *May include interest charged when payoff is not received on first day of the month, but may not include delinquent interest, late charges, or escrow shortages. 2

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40 Norcom Wholesale Compensation Agreement Broker herein referred to as Originator Street Town State Zip Norwich Commercial Group, Inc. d/b/a Norcom Mortgage a Connecticut Corporation is herein referred to as Norcom. This compensation agreement applies to any application for a consumer credit transaction secured by a dwelling that Norcom receives from Originator on or after April 1, 2011 (a covered transaction ). In connection with covered transactions, Originator will at all times be in compliance with the loan originator compensation rule set forth in 12 C.F.R and the related official staff commentary, and any amendments (the compensation rule ). Norcom will not pay, and Originator shall not receive, any compensation based on the terms and conditions of a covered transaction other than as permitted by the compensation rule. If Originator receives compensation from Norcom in connection with a covered transaction, (1) Originator shall not accept or receive, directly or indirectly, compensation from any other source in connection with the transaction, and (2) no employee or agent of Originator who is subject to the compensation rule shall accept or receive, directly or indirectly, compensation from any other source in connection with the transaction. For any covered transaction, Originator shall not direct or steer a consumer to consummate a transaction based on the fact that Originator will receive greater

41 compensation from the creditor in that transaction than in other transactions that Originator offered or could have offered to the consumer, unless the consummated transaction is in the consumer s interest. Originator also shall present loan options to the consumer pursuant to the safe harbor provisions of the compensation rule and document the loan options presented to the consumer. Without limiting the foregoing, Originator shall comply with any requirements specified by Norcom to present loan options to the consumer and to document the loan options presented to the consumer. Originator shall comply and warrant compliance with all laws and regulations applicable to the origination and closing of a residential mortgage loan. Originator also shall comply and warrant compliance with all Norcom policies and procedures applicable to the origination and closing of a residential mortgage loan, including without limitation policies and procedures regarding Originator compensation, loan options presented to a consumer and retention of documents under the compensation rule. Without limiting the foregoing, Originator shall retain in connection with each covered transaction all documentation regarding compensation and compensation agreements, and regarding loan options presented to the consumer, for a period of not less than two years from the consummation of the transaction. (Originator initials) (Norcom initials) Subject to revision by Norcom, for covered transactions for which Originator will be compensated by Norcom, Norcom agrees to compensate the Originator the following fixed percentage of the loan amount (%), and Originator shall not receive any other compensation. [optional]: (Originator initials) (Norcom initials) Subject to revision by Norcom, for covered transactions for which Originator will be compensated by Norcom, Norcom agrees to compensate the Originator the following additional flat fee per file $ [maximum of $750]. (Originator initials) (Norcom initials) Subject to revision by Norcom, if initialed by both Originator and Norcom, regardless of the percentage amount specified above, a minimum dollar compensation amount of will apply to each covered transaction. If no minimum dollar amount is listed, the compensation of Originator for a covered transaction will be calculated on the fixed percentage of the loan amount as specified above. Originator acknowledges and agrees that the compensation of Originator is subject to all policies and procedures of Norcom. Originator acknowledges and agrees that Norcom will not close any mortgage loan with an interest rate, points or fees that exceed any applicable state or federal high cost loan or related laws or any maximum compensation level

42 Notwithstanding any other provision of this agreement, Norcom may periodically review and revise the compensation of Originator. Any changes to the compensation of Originator are effective for covered transactions that are locked by Norcom the specified effective date of the changes. Any changes to the compensation of Originator must be made no later than 15 days before the specified effective date. Originator Company Name Norcom Mortgage Name and Title Name and Title Signature Date Signature Date

43 Norcom Mortgage has made available our compensation agreements to our valued broker partners (each a Broker ). The compensation/attestation agreement is attached. Broker has the following options when selecting a compensation plan: Plan A Plan B Plan C Plan D Plan E Plan F Plan G Plan H 1.25% 1.50% 1.75% 2.00% 2.25% 2.50% 2.75% 3.00% Broker can receive an additional flat fee per file up to a maximum of $750. Flat fee must be set in your compensation agreement. Please execute and return the agreement to Broker s account executive by March 25, Upon receipt, an authorized representative of Norcom will counter sign and Broker will be ed a copy of the agreement executed by all parties. Important Points: Broker will receive one rate sheet from Norcom with lender paid compensation plan adjustments. When broker logs into Norcom s online pricing engine, Broker can select paid of lender paid. Broker s compensation plan will be tied to their login. Norcom will require Broker to provide a Safe Harbor disclosure on any file for a transaction that Norcom receives, if Norcom is paying the Broker compensation. A sample is attached. Please consult with your internal compliance people before using this disclosure. One comp agreement per Broker. Compensation agreement is effective on all files received by Norcom on April 1, 2011, or after.

44 Norcom s Comp agreement will allow for Broker to receive as compensation a fixed percentage commission, or a fixed percentage commission plus a fixed dollar amount. Whether the fixed percentage commission or fixed percentage commission plus fixed dollar amount is selected in the compensation agreement, the compensation method must be used for all loans for which Norcom pays the compensation. When Norcom pays the compensations for a transaction, the compensation provided for in the agreement with Norcom may not be increased or decreased in connection with the transaction. When Norcom pays the compensation for a transaction, Broker may not pay any fees for the consumer, or provide a credit to the consumer. When Norcom pays the compensation for a transaction, Broker may not pay for any GFE tolerance violations or reduce its compensation to avoid a high cost calculation violation. Please note this may mean that Norcom will not be able to consummate the loan transaction with such a violation. The compensation agreement cannot be changed on a loan- by- loan basis. We will allow for the compensation agreement to be changed quarterly with written notification from the broker on the 15 th day of the month preceding the change. However, in the first three months from April 1, 2011, Norcom will allow changes to be made on a month- by- month basis, depending on loan volume, as long as the changes are made on the 15 th day of the month preceding the change. Norcom will pay Broker directly at closing. When there is a credit from Norcom that exceeds Broker s agreed upon compensation, the excess credit must be applied toward other consumer closing costs. Conversely any result in pricing as a cost to the borrower must be reflected as a discount charge to the borrower. On borrower paid transactions, Broker s compensation is negotiable with the borrower. The restrictions on compensation in the Norcom compensation agreement only apply to transactions in which Norcom is paying the Broker compensation. When there is a credit from Norcom in a transaction in which the borrower is paying Broker s compensation, Broker may receive no amount of the credit the credit may only be applied toward the borrower s other closing costs. Please contact your account executive if you do not want a borrower paid option. Please contact your account executive with any questions.

45 Broker: FHA/EIN #: Contact: Phone: Fax: Borrower(s): Property Address: Borrower City: State: Zip: Sales Price: Base Loan Amt: Total Loan Amt: Appr Value Note Rate: Estimated Close Date: Lock Expiration Date: CHECK ALL THAT APPLY PRIMARY 2 ND HOME INVEST DU REFI PLUS FREDDIE RELIEF FHA CONV USDA VA ST HOUSING LOAN PROGRAM: FIXED RATE ARM FHA JUMBO JUMBO LOAN TYPE: PURCHASE R/T REFI C/O REFI LOAN TERM: PROPERTY TYPE: SFR 2 UNIT 3-4 UNIT PUD CONDO Please circle Borrower Paid Lender Paid STACKING ORDER: ALL DOCS SHOULD BE FULLY EXECUTED (SIGNED AND DATED WITHIN COMPLIANCE) ***ANY MISSING UNDERLINED ITEMS AT THE TIME OF LOAN SUBMISSION WILL CAUSE THE LOAN FILE TO BE PLACED IN SUSPENSE STATUS UNTIL RECEIVED FILE SUBMISSION DATE WILL BE WHEN ALL REQUIRED DOCS HAVE BEEN RECEIVED**** Title/Home Owners/Attorney Information AUS (LP/DU) Findings Released to Norcom if applicable Rate Lock Registration/Confirmation Sheet Final Typed 1003 Initial 1003 fully completed and signed by Borr and LO LO NMLS and Comp NMLS 2yr work and resident history Assets as required Declarations Section fully completed (X) pg 3 Credit Report tri merge Income Docs as required by DU/LP most recent paystub w/borrower and employer name must show 30D YTD income 2 year W2 s Most recent years Fed Tax Return if self employed Provide 2 Yrs if required by AUS Returns must be signed by borrowers Asset Docs as required by LP/DU 30 day bank stmts Most recent bank statement provide all pages 60 day account history to include borrower/bank name Purchase/Sales Contract fully executed Appraisal 4506T signed and dated with borr address of last tax return filed Disclosures signed by borrowers Disclosures required by Specific Programs GFE / TIL Itemized Fee Worksheet ECOA Borrower Certification & Credit Authorization Credit Score Disclosure Servicing Disclosure Flood Insurance Disclosure Privacy Disclosure Intent to Proceed Norcom Title Provider Disclosure HVCC Net Tangible Benefit (MA, NH, VT, ME) FHA Docs: All Docs Required Case Number assigned to Norcom Clear CAIVRS HUD 92900A fully completed Amendatory Clause if applicable New Construction docs if apply LDP/GSA all parties Import Notice to Homebuyer Informed Consumer Choice Notice to Home Loan Appl For Your Protection - Purchase USDA Docs: All Docs Required fully completed 30 day bank stmt and paystubs VOR if fico < 640 Income for all household members (used to calculate USDA limits) VA Docs: All Docs Required VA Addendum a VA Loan Analysis Verif of VA Benefits Cert of Eligibility (COE) VA Option Clause Florida Properties No Condos or Multi-Families 90% Maximum LTV on Conv No Manufactured Homes No Investment Properties Notes to File: