Disclosures
Needs to be sent within 3 days from app date
What is the Loan Estimate?
What is Sunday?
Demographic data provided on the 1003 from applicant
What is Government Monitoring Information (GMI)?
This queue is used in Empower to complete initial processing
What is Loan Prep?
What is Data Verify?
needs to be sent 4 days prior to close
What is the Initial Closing Disclosure (ICD)?
Earliest day for verbal VOE
What is day 10?
Ratio used to determine borrowers ability to repay
What is Debt to Income (DTI)?
Two documents requiring borrower signature
What are the Borrowers Authorization & 1003?
ordering system used for appraisal, flood and fraud
What is LoanSphere Exchange?
This package includes the LE
What is the RESPA Package?
2 days that are not counted for LE timing requirements.
What is Saturday & Sunday?
What is HO-6?
Document manually uploaded to GDR and confirms if borrower has any open judgments, liens or bankruptcies.
What are public records?
Made up of Mavent, Geocoding & Exclusionary List
What is Compliance Eagle?
Sent when there is a change to loan terms
What is a redisclosure?
Last day to send an ICD
what is day 4?
Document signed by borrower promising to pay the bank back
What is the Note?
Three checklists completed before sending to underwriting are Build Phase Checklist, Loan Prep Checklist & ________________
What is the Doc Audit Checklist?
Run by LO to check tax amounts
What is Property Tax Direct?
sent with balanced figures to title company with closing docs
What is the final CD?
What is 3?
When the borrower agrees to move forward with their loan
What is intent to proceed (ITP)?
What is day 7?
Checks state specific fees
What is Mavent?