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 EMAIL 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 EMAIL 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 EMAIL 1b to client FILE PREP NOTES Organize, stack and label conditions from NEEDS LIST 1 to make easy for processor to review Email NEEDS LIST 1 conditions to processor LO Email Calyx file to processor LO Email 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 EMAIL 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
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 EMAIL 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 EMAIL 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 EMAIL 5 to client notifying file submitted Set 3 day calendar reminder for approval. (If no approval recd, email 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 EMAIL 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 EMAIL 7 and attach appraisal to email. UNDERWRITING NOTES Lender Approves loan with conditions (Or declines loan)
C2 Financial File Flow Checklist Page 3 of 5 DATE WHO UNDERWRITING (CONT) Sends EMAIL 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 EMAIL 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 EMAIL 10 to client Email escrow to confirm docs arrived at lender (Get tracking #) Email 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.
C2 Financial File Flow Checklist Page 4 of 5 DATE WHO FUNDING (CONT) NOTES Send EMAIL 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 Email 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 email 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 Email a Survey Link to client for anonymous feedback Add Realtor to your monthly newsletter email list Ask Realtor if you can make a presentation to their office on your process, testimonials, etc
C2 Financial File Flow Checklist Page 5 of 5 Misc Notes: