File Flow

FILE FLOW FROM “ORIGINATION” TO “SUBMISSION TO CLOSING”

FLOW 2

FLOW 1

LOAN OFFICER ASSISTANT

LOAN OFFICER

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Review 1003 make updates Run AUS and move file to TRID for disclosures-LO and LOA will review LE ok it to be sent to borrower Send the First Step email to borrower with a list of financials needed and call borrower to go over Follow up with the borrower to make sure any requested documents, disclosures and financials are back WITHIN 3 business days Order appraisal, title, flood cert, HOI (if locked), 4506, Data Verify, USPS, credit updates, and any third-party order outs-see LOA checklist for other items Upload all disclosures and necessary docs and financials into the eFolder and placeholders. Fill out the TO DO List and File Contacts WITHIN 5 business days of LE going out to borrower – the milestone MUST be moved to “Processing” – and file given to the processor. Initial UW Within 3 business days and send out the conditions sheet to the LO, LOA, and processor. Move milestone to show “Conditional Approval”. The DAS condition sheet will be emailed and uploaded into the eFolder Underwrite SLA for resubmissions within 48 hours Once all conditions have been cleared by the Underwriter, the Underwriter moves the milestone to “Approval” and issues the CTC FLOW 4 UNDERWRITING Once file is CTC processor will review Closing/Funding conditions, update the closing checklist move the to “Sent to Closing” milestone FLOW 5 PROCESSOR    

Start file, in “File Started” milestone, take complete 1003 and request eConsent. Run Credit-L.O. or LOA must run credit (must be licensed)  Must have borrowers auth. signed or mother maiden name and state she was born in, prior to running credit LO will move milestone to “LOA Finished” milestone

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FLOW 3

PROCESSOR

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Review file to determine if any documents are outstanding to submit to Underwriting LOA and Processer will gather documents as they come in Upon receipt of required documentation to submit for initial underwriting, processor to submit to Underwriting and move to the “Submittal” -WITHIN 5 business days of receipt into the Processing milestone Upon receipt of condition approval and loan has been moved to “Conditional Approval” milestone, from the borrowers. The LO and LOA have 2 day s to get the conditions and send them back to the processor and/or upload them to file manager, processor has 24 hours to send conditions back to uw. When all is in and file is complete, the file can be submitted to UW by the processor, the processor moves the milestone “Re-Submitted”- Note- Processor may resubmit more than once if appraisal is received however not all conditions have been received  The processor will review the conditions sheet within 24 hours and send a list to the LO and LOA with anything needed

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