Lines
The form that authorizes the Bank to contact the applicant's insurance agent
What is the Certification and Authorization form
Appraisal types that may be ordered by the underwriter.
What is AVM/PCR, Drive By or Full?
.50%
What is the discount to rate with auto deduct from an Ultra Checking account?
Appraisal type discussed when a customer has conveyed pride in home ownership.
What is a Full Appraisal?
Double Jeopardy: What is the impact to the customer?
How we quote rates.
What is APR and subject to credit and final underwriting.?
This is what applies if the Line is closed in the first three years.
What is the Early Closure Fee
Double Jeopardy: What are the early closure fees?
Recording and trust review fee (if applicable)
What is $250? (it is the customer's responsibility to pay)
This resource can be used to verify ownership and research the property.
What is the property card? Another resource is Vision Appraisal.
The rate that HELOC's are based (indexed).
What is Prime Rate?
These three factors will contribute to the rate associated with a HE Loan in guidelines.
What are (1) Term, (2) Auto Deduct (Checking vs Ultra), (3) Type of property securing the loan (Primary/Secondary vs. Investment)
The document that recaps the home - owners insurance coverage.
What is the Declarations Page.
Double Jeopardy: What two pieces of information are most relevant on the Declarations Page?
Submitted prior to and after closing to reflect current ownership and other relevant factors.
What is a title report?
Double Jeopardy: Who conducts a title search and what options does a customer have?
Credit score of 700
What is the minimum credit score for no rate adjustments or approval exceptions
An additional fee will be incurred if Title is in this name
What is a Trust or a business?
Double Jeopardy: What is the purpose of this fee and what is required by the customer?