SERVICE LEVELS

Prequal/Setup

Work closely with borrower to obtain initial credit documentation.
Assist borrower to complete application.
Calculate borrower income based on credit documentation.
Run credit to assess for qualification.
Provide a completed and accurate application to Loan Officer for prequalification of appropriate loan product.
This service level is not included in the Basic Service Level

Basic

Comprehensively review Minimum Credit Documents before Submitting
Loan Application to the Lender.
Update the Loan Application and re-run the AUS Findings based on our review to ensure the Loan is within Lender guidelines.
Reach out to the Loan Officer to address any potential red flags before the Loan is Submitted to the Lender.
Generate Loan Officer Initial Disclosure Package.
Submit a complete and buttoned up Loan Application to the Lender.
Order the Appraisal, Title, Hazard/Flood Insurance, Condo Questionnaire, Master Insurance, WVOE, Credit Supplements, VOR/VOM, etc.
Follow up, obtain, and comprehensively review the Appraisal, Title,
Hazard/Flood Insurance, Condo Questionnaire, Master Insurance, WVOE, Credit Supplements, VOR/VOM etc.
Communicate with the Lender, Title Company, Appraisal Management
Company, Insurance Agent, Credit Agency, Borrower’s Employer, etc.
Thoroughly review the Conditions provided by the Loan Officer before Resubmitting the file to the Lender. This process will continue until the Clear to Close Notification has been obtained.
Schedule the Closing Date with the Lender once the Loan Officer has confirmed the Closing Date and Time with the Borrower and Title
Company.
Collaborate with the Title Company and the Lender’s Closer with regards
to reconciling the Closing Disclosure.
Ensure the Title Company receives the Closing Package in a timely
manner.
Upload the Compliance Package (Credit and Executed Closing Package) to our Broker Partner’s LOS.

Intermediate

All functions referenced in the Basic Processing Package.
Work closely with the Borrower to gather Conditions.

Advanced

All functions referenced in the Intermediate Package.
Generate Initial Lender Disclosures and any subsequent Lender Disclosures (i.e., Locked LE and Initial CD).