Show Me the Numbers
The abbreviation commonly known as LTV is used to describe what?
What is loan to value ratio.
If a vendor team needs our assistance with communication to a client, this type of tracking item will be set?
What is a Vendor Communication/Client Condition or VCC
This company performs the administrative functions involved in the ordering, completion, and delivery of an appraisal report?
What is the Appraisal Management Company or AMC.
After how many authentication fails should we set a FACTA tracking item to "problem" ?
What is two attempts.
As of 2/15/21, this form allows the lender to access the client's income tax transcripts directly from the IRS. The transcripts are used to confirm the client's tax return filed with the IRS.
What is the 4506-C form.
Once a client closes their loan, where can they find the credit for their Good Faith Deposit?
What is page 2. of their Closing Disclosure under Payoffs and Payments.
Clients sign this document during the process that allows us to collect need information from third parties
What is the Certification and Authorization form.
This process is used to set aside money at the closing of a loan that is used to pay for property repairs deemed necessary by an appraiser when a client cannot complete repairs during the process for one of the following reasons; a short sale, weather-related issues, or a shortage of supplies.
What is an escrow holdback.
If a client asks for a copy of their Appraisal to be mailed to them, how would we submit this request?
What is submit the request through the Requesting an Origination Document trail in Pathfinder.
This type of loan program may require an Appraisal for the payoff to be processed.
What is a USDA loan.
If a client is asking to know why certain numbers have changed between loan statuses, what screen in AMP can we use to dig into this information?
What is the Historical Comparison Screen or CTRL + O
How would we communicate with a Vendor team to obtain an updated Payoff or Declarations page?
What is the Vendor or CTRL + V screen.
This is a process where eligible loans have an interior/exterior inspection of the property completed. This may result in the granting of a valuation waiver, reducing turn time and cost to the client?
What is a Data Collection.
What step do we take if a client is requesting an updated Closing Disclosure to reflect their new loan amount?
What is insert the Client Service - Updated Closing Disclosure tracking item.
In this state, clients are required to sign Attorney/Insurance Preference form, along with their application package, indicating their preference for attorney?
What is South Carolina
If a new Loan Estimate is posted to Rocket Mortgage for a client and they acknowledge it online, how long must we wait before moving forward with the loan?
What is four business days.
If a client has a condo, they will likely need this type of insurance outside of their HOA's master policy?
What is an HO6 or Walls - In Policy.
We can accept an inbound Appraisal Transfer on most loan products except this one?
What is a Conventional loan program.
When a client requests an escrow waiver, what should we be inserting on the loan?
What is a banker clarification.
In this type of loan program only offered for our New York clients, clients are not purchasing a condo, but rather shares in a membership-based corporation.
What is a Co-Op.
What screen or menu can be used in AMP when a client has questions on their assets for reserves or funds to close?
What is the Underwriting Menu or Underwriting Summary. (CTRL+U)
Employment verified with WorkNumber must be dated within how many days of close?
You may commonly see this type of inspection requirement on this type of loan program without an Appraiser recommendation.
What is a Pest inspection on a VA loan.
After backing out of the Title Company/ Order Information screen from updating CCT information, what is the next step?
What is update the Obtain Closing Agent Information tracking item comments with the title company contact information and status the tracking item to Received.
Where should we go to assist a client with having a Home Loan Benefit promotion reviewed to be added to their loan?
What is shorty/HLBP