Take a complete loan application signed and dated by Loan Officer and borrower(s)
Application and borrower's authorization provided below:
Collect ALL signed and dated disclosures
Collect borrower documentation
Qualify your borrower for the product and program selected
Identify lender and program
Provide completed submission sheet and Patriot Act Information Sheet provide below:
Also provided is a list of documents required from the borrower.
/Documents/Loan Submission Form Website.doc
/Documents/PatriotActForm.doc
/Documents/Required Documents.docx
CBC LOAN PROCESSING RESPOSIBILITIES
Review application Verify disclosures are accurate and complete
Review credit report, bank statements, pay stubs & W-2's all other submitted documentation
Order appraisal and title
Order payoff and subordination agreement (if necessary)
Order hazard insurance for new mortgagee clause
Submit loan package to lender for Underwriter
Clear lender conditions
Prepare fee sheet for review by broker, then submit to lender
Coordinate closing schedule
Follow up to confirm closing was successful
Keep the client informed throughout the loan process
Loan Info Home: Loan Officers Paradise