CofC You Later!
Client Requested to Waive Flood Insurance, Are We Able To Process?
No, Flood Insurance is only handled by the Underwriter.
As a Best Practice, How many cases should you have in your name at any given time?
10% of the queue. (1-2 depending on the amount of cases)
What is the Maximum Amount of Days we can Relock a file for?
45 days.
A Lock is being Extended today 2-4-25 to 2-9-25, do we use prior quarter or current quarter ASR?
Always the prior quarter ASR.
What 2 sub categories do we only use in Destiny?
Rate Lock and Trid Fees
Up To What Status Can We Apply Or Remove TRAC / TRAC+ From A File?
CTC
How do you check to see case owner history in salesforce?
Go to Feed, and under System you will see who originally put the case in their name
Client Initially Locked on a 15 day Lock Period, lock is expiring today and the client is requesting a 30 day current market relock. Can this be processed?
No, they can relock for 15 or less days but cannot exceed the original lock commitment.
Client requested to transfer a lock between 2 files same parameters they just cannot submit manual lock request. How would you process?
If unable to submit a manual, Advise to submit an email to ldesk@uwm.com for review.
What are the Big 6 Categories in Destiny when processing an initial lock/ transfer or rebuild?
Price Code
Rate
Base Price
Lock In Date
Expiration Date
Lock Commitment
We Have Received a Reinstatement Request on a file that has not expired but has been inactive over two days. You check the Relock screen and see worse case pricing is original market. How should you proceed?
Leave lock as is, client can relock on their own.
You reached out to the client for more information but you are waiting for an answer, What would you add?
An Initial Lock was processed at 1PM, A cancel lock request in the queue was sent in at 1:15 PM. There was a Reprice at 1:30 PM. We claimed and worked the case at 4:30 PM, are we able to cancel the lock?
Yes, We can honor the time stamp as this was requested before the reprice and within 3 hours.
Client requested to update the SSN from 123-45-6789 to 987-65-4321, the file is currently in import and disclosed. Can we make this change?
No, this would be a major change and would require withdrawing and resubmitting
Archived Rate Sheet is unavailable in the one drive and you need to compare pricing, where do you go?
Compare Pricing tool in Destiny.
File Is Floating In File Import Status, No Docs Have Been Drawn Yet. The Client Is Asking To Go From Conventional 30 Year Fixed to Bank Statement Pink. How do we proceed?
Can process program change, the file is not disclosed, floating and in Import status.
Client Requested To Remove Extension on File and Replace With Relock, What would this be labelled in Salesforce?
Relock
Client with a 122 Lock is requesting a lock extension with the wire out. This Extension would come with a 5 bps charge. How do we proceed.
Wire must come back if Extension produces any charge. If Extension is free through ASR, you may proceed.
Is a Lock Eligible for Govy 100 if 60 for 60 has already been applied?
Yes, they will receive an additional 40 bps credit if they are an eligible account.
What Price Code And Lock In Date would be used if a Case came in on a Weekend?
Client Requested To Program Change From HELOC Standalone to Conforming Conventional, Are We Able To Process?
No, We cannot Switch In and Out of a HELOC Program unless it is HELOC Standalone to HELOC Standalone OR HELOC Piggyback to HELOC Piggyback.
You are reviewing a request that you have never processed before, and mentions actions you do not understand, what should you not do?
Do not Skip The Case, everyone on the team can help with figuring out the request.
Client had used 3 Extensions before processing a Current Market Relock. The Extension Costs have now fallen off the loan. Client then requests a 5 day Extension after the Relock has been made.
No, we cannot proceed. 3 Extensions have been previously used, and is for the life of the loan.
If a New Initial Lock Request was received in the Client Request Queue at 7:25 AM, how would you proceed with this request?
Since pricing has not yet been released, close the CR and advise the client to re-quote a new rate on the new pricing and to submit a new request.
Received a request for a MOD rate on a One Time Close, How would you change a loan that has different base and final rate?
Go into Destiny, add custom adjustment to rate for -.75% to offset the difference.