Monthly debt obligations divided by the monthly gross income
What is DTI
100
Loan officers update customer information here during the initial conversation
What is Borrower Summary
100
Underwriting status should be changed to this for initial review by underwriters
What is Submitted
100
Processors will go here to request the Re-disclosure package/Audit only
What is Doc Packages-Order Document Package
100
The loan has been assigned to a processor
What is File Received
200
Principal balances of all mortgages on the property divided by the appraised value of the property
What is CLTV
200
For a quick view of Loan Details, Borrower Information, Assigned To and Ratios, processors should go here
What is General Loan Summary
200
In order for underwriters to view updates in U/W Conditions/Decisions, processors must select this
What is Publish U/W Decision
200
Processors will go to this tab in Loan Estimate to recalculate fees
What is Fees tab
200
Conditional approval received. The processor must review the conditional approval within 24hrs. Processor will request additional doc from the borrower and 3rd party completions
What is U/W Approved with Conditions
300
Reflects how many times DU has been run
What is Submission Number
300
USPS is used to verify information for which property
What is Subject Property
300
When clearing PTD-CSRs, processors should use 1 of these 3 options
What is Approved, Move to U/W, Move to PTF
300
Processors can view notes in the Lock-Additional Information section to confirm what
What is Specific Change made to the loan (initiating re-disclosure)
300
When the loan isn't ready for final, but the Income, Appraisal or Title have come in and have been submitted for review
What is U/W Conditions Pending Review
400
Excessive value, Rapid appreciation, Liabilities comparison are examples of
What is Potential Red Flag Categories
400
Processors will select this option under Forms & Docs to view/clear conditions
What is U/W Conditions/Decisions
400
Processors should only use this option when reviewing PTD-UW
What is Received
400
After updating the loan, fees tab and running the HPML audit, processors will send the email request to which address
What is dlcocs@homewardfunding.com
400
U/W has cleared all conditions, but processors waits for it to be cleared by QC
What is U/W Final Approval
500
Specific property valuation fieldwork options and related requirements are found in this section of DU Findings
What is Property and Appraisal
500
Liabilities on the 1003 should reconcile with this document
What is Credit Report
500
Once the loan has been Approved with Conditions, processors should upload all applicable documents to ImageFlow using this
What is Condition #
500
Loan amount increases, loan program changes, pricing increases, changes in the term are all examples of
What is Re-disclosure Triggers
500
Loans with 5 conditions or less are to be placed in this status