Registration
Can new credit be pulled on an active file when the credit has not expired?
What is a new credit report over 60 days old?
IF the LO wants to decrease borrower comp, do we have to re register?
what is LPC only?
Does Spring EQ require Flood Insurance in a flood zone?
What is yes, we do?
What are Spring EQ’s turn times on loan approvals?
What arecurrent turn times on our website on the home page? Click https://wholesale.springeq.com
Can the borrower pay discount points to lower the margin on a HELOC?
what is yes?
Located on the rate sheet.
Can a Loan officer re-register a loan or do they need to go through a Spring EQ team member?
Who is the Application Analyst or Account Manager?
What time does the app cancel on the Initial Disclosure Due Date?
What is 7pm PST?
Does Spring EQ transfer appraisals on a HELOC?
What is only a prior-use appraisal?
Can Spring EQ send the broker check to the LO's personal office?
What is All broker compensation checks are sent to the corporate office address that Spring EQ has on file? This is the only address to which checks can be sent.
What is the difference between Clear correspondent rate sheet and Correspondent rate sheet.
What is a Delegated Correspondent? The clear rate sheet is designed for large opportunities. $5M or more per month
When should a borrower receive a loan estimate for the first time?
What is the Initial Disclosure package sent by Spring EQ?
is there a way to resend initial disclosure doc link to borrower in the portal?
What is the Applicaiton Analysts?
How can the LO confirm if the Closing Disclosure went out?
Where is, Once inside the loan, scroll to the bottom and review the “Disclosure Delivery History.” There you will see the Closing Disclosure listed under “Disclosure.” You can see the Disclosure by clicking on the paper clip under “Package.”
What is a O&E property report?
What is a Owner and Encumbrance report? - it's the title search that shows current ownership and lien holders of the property
Does Spring EQ's initial disclosure process require borrower documentation to initiate?
What is no, disclosure happens as soon as TRID requirements are met?
Can brokers get a signed copy of the disclosure package?
What is the broker portal under View all Documents?
How I the LO re-print the condition sheet?
What is the "Lock Management" Screen?
Where can I locate servicing information?
Where is, It is located on our website. Please Click Servicing and Payments.pdf (springeq.com)
Can you order an appraisal before the file goes to u/w?
What is, yes through the Application Analyst?
Who should the LO contact if they have questions or issues locking a loan?
Who is the BXG?
What is the turn time for Initial disclosures?
what is the broker portal for all turn times?
Who does the LO contact if they have questions about a condition?
What is a dedicated Account Manager?
How do the borrower and creditors receive payment when a loan funds?
When are, Mortgage payoffs are wired on the day of funding. Cash to the borrower and any non-mortgage debt checks are mailed to the borrower by the business day after closing.
Who can the LO contact if notary did not show for a closing?
Where is, The closing agent confirmation form should be in the file. If so, you can provide it to the broker/borrower, and they can contact the notary and hopefully reschedule that same day. Docs are date sensitive, so if they didn't sign, the docs have to be reissued with a new date.