Checklist Questions
What document do you run UCD on?
The wet-signed Closing Disclosure Final-Borrower
What sections on the seller CD can transfer tax be found?
Section E
What does the Patriot Act verify?
Borrowers Identity
What document is needed to clear this condition?
Provide fully executed Social Security Administration Consent for Release of Information form - SSA 3288.
Fully Executed SSA 3288 form
What is SLA on Emails?
3 hours
Where can we look to determine if a loan closed in a Trust?
Vesting
Signature lines on the Security Instrument & Note
What section on the seller cd are commissions located?
Section H
How many primary forms of ID and how many secondary ID, are required on the Patriot act?
1 Primary
2 Secondary
What document is needed to clear this condition?
TC: Closing Disclosure (fully executed) for the sale of: ___. This must pay off ___.
REO Settlement Statement or REO Final Seller Cd for the correct address and payoff
When should we answer CRs?
Immediately
While reviewing a Jumbo loan, you find a title fee listed as "Title - Miscellaneous" in Section C. What should you do?
Contact the Correspondent for the correct fee name
What sections on the seller cd are OTP located?
B, C, H, N
What are the two things required on page 2 of the patriot act
Settlement Agent:
Signed/Name
Dated
What document is needed to clear this condition?
TC: The current HELOC must be paid and closed. Title company to provide documentation acknowledged by the borrower to state the HELOC will be paid and closed upon receipt of payoff.
Payoff letter signed with the correct verbiage
The provided REO has the correct address and payoff, but the netted amount is less than the condition. What is the next step to clear the REO condition?
Escalate to PC Approvals for QA to review
What traits make a settlement statement FINAL?
No estimated verbiage
Disbursement date present
Correct property address
Fill in the blanks
Selling Agent =__________________
Listing Agent =_________________
Selling Agent on Seller CD = Buyer’s Agent
Listing Agent on Seller CD = Seller’s Agent
What document is needed to clear this condition?
TC: Termite Inspection to be signed by borrower.
Pest Inspection signed by the borrower
What loan types do you run Calculations on?
All loan types
On a Primary Refi, what documents would a vested Non-Borrowing Spouse be required to sign?
MINI SET:
Closing Disclosure
Right to Cancel
Security Instrument
Security Instrument Riders
Add the fee on it's own line in Section H on PCCD
What is the name of the stamp that is unique to texas loans?
P-35
What is needed to clear this condition?
TC: Entitlement to be restored for #xx-xx-x-xxxxxxx
None we leave the condition on the file
What do we need to clear the following condition?
TC: Seller to pay for solar lien on title and title to confirm UCC filing removing from title.
Reach out to Corr requesting the following:
Email stating PAID OFF AND REMOVED FROM FINAL TITLE POLICY