FACTS

What is required from both broker and processor

Brokers are responsible for the following:

• Fully completed 1003 in Arive
• Provide tri-merge credit report
• Run preliminary AUS
• Choose program/lender for submission
• Lock loan with lender
• Communicate and provide any additional documentation needed from the borrower

1. Drivers license/Government issued ID

2. Income (1 month recent paystubs, 2 years W2, 2 years of tax returns)

3. Assets (2 months most recent statements)

4. Subject property/REO (mortgage statement, HOI, tax bill)

• Approval of final fee sheet for closing

I will provide the following:

• Register & disclose loan with lender
• 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, condo documents
• Order appraisal & HOI
• Order title commitment & other title items
• Track the underwriting process
• Call out conditional approval to the borrower
• Order CD
• Once clear to close is received I'll contact you to lock in loan (if not already done) and review of fee sheet for your completion/approval
• Schedule closing between the lender, escrow company, borrower and yourself
• CD will be reviewed against fee sheet for accuracy and then sent to you for approval
• Verify the signed closing documents are received at the escrow company and loan has funded and recorded
• Complete closing package for broker payout