What is required from both broker and processor

 

Brokers are responsible for the following:

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• Completion and collection of signed 1003 and all RESPA required disclosures

• Provide Tri-Merge Credit Report

• Choose Program/Lender for submission

• Lock loan with Lender

• Communicate and provide any additional documentation needed from the borrower

• Approval of final Fee Sheet for closing

 

We will provide the following:

 

• Download/Input loan in Calyx/Point

• Review initial file received for credit, income, assets, ratios, etc and advise of any concerns

• Order any required VOE's, VOD's, VOM's or VOR's

• Order appraisal

• Order Title Commitment

• Once we have complete package, submit to lender of your choice

• Track the underwriting process.

• Once approved we work with you to obtain necessary documents, if needed

• Once clear to close is received we contact you to lock in loan (if not already done) and review of Fee Sheet for your completion/approval

• Schedule closing between the Lender, Title Company, borrower and yourself

• CD will be reviewed againist Fee Sheet for accurancy and then sent to you for approval

• Verify the closing documents are received at the Title Company prior to closing and then verify that the closing was successful

• Finally, we will forward the entire processed file back to you for storage or to Corporate office