Borrower: Loan Officer: Processed:
File #:
OPEN FILE
______Date that loan was turned into processing (files submitted after 12:00pm are dated following business day)
___Send out FHA Amendatory Clause if not already sent
___Add file to the Operations Report
___Check the expiration date of credit report. Report is good for 90 days. If credit report will expire prior to the closing date, alert loan officer.
___Review submission sheet for instructions from LO
___Check disclosures for dates, phone numbers, signatures and completeness
___Revise point with any corrections made by LO on the documents
___Complete either 1008 for conventional or FHA Transmittal for FHA loans.
___Order Tax Transcripts & SSN Verification (www.fraudpredator.com)
(reminder: put 1040, 2008, 2009 & name, address & phone # of Company)
___Order Flood Cert (Point > Services)
(reminder: add middle name/initial and c-borrower name and middle name/initial)
___Obtain FHA Case # ___LDP/GSA (ßAll on FHA Connection)
(originator ID is 1261700302)
___Check if case number is out of holds tracking.
___Order Appraisal (AMC links) ___Appraiser Approvals (FHA Connection and www.asc.gov)
___Order Title (1003, GFE, Initial Fees P & S, letter to attorney and title request form.)
___Request payoffs if refinance, page 3 of 1003 …all mortgages marked paid off (Loan number from credit report)
___Package Loan in file order
_____Verbal / Full VOE Borrower _____ Verbal / Full VOE Co-borrower
_____Third Party Verification _____ Third Party Verification
**Full VOE needed for borrowers who are paid hourly and not getting 40 hours a week, Teachers need number of pay periods a year and Nurses need average hours a week AND for all income used that included OT, Bonus, commission ect as shown on page 2 of the application
_____ Scan file to Scanner Folder. Uploads get printed into Doctrac.(it’s a printing option.) Along with the file…either a 1008 for CONV or a FHA Transmittal Summary needs to go too.
_____ Email Bev and Sarah with loan number, borrower name, commitment date, estimated closing date, and if locked who the loan is locked with – print lock and staple to left side of folder.
HH