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Ack-wrong-nyms
Who 'dat is?
And you know this,man!
Groundhog Day
Double or Doomed
100
(M)ission (I)mpossible
What is Mortgage Insurance?
100
Helps the LO and most often works closely with the processor and borrowers.
Who is the Loan Officer Assistant?
100
Fees or payments rendered outside of normal title insurance and underwriting fees due at the time of closing.
What are POC?
100
Date the Processor enters after completing the first checklist required.
What is 24 Hour?
100
Type of pay stubs used for active duty military.
What is LES (Leave & Earnings Statement)?
200
(A)ustralian (U)nicorn (S)anctuary
What is Automated Underwriting System?
200
Person responsible for filling out the initial 1003.
Who is the Loan Officer?
200
The first thing you do when you receive a new loan.
What is the 24 Hour Checklist?
200
Date entered by the underwriter once the conditions are reviewed.
What is CRD?
200
A federal government database of delinquent federal debtors.
What is CAIVRS?
300
(E)at (M)y (D)ust
What is Ernest Money Deposit?
300
Prepares all documents required for the closing, including the final figures.
Who is the Closer?
300
Agreement between a seller and a buyer to purchase a home.
What is a Sales Contract?
300
Date entered by QC team once the loan has been fully reviewed for errors and determined clear.
What is Final QC?
300
You can find out if the Borrower is a US resident as indicated in the________ section of the 1003.
What is Declarations?
400
(C)an't (S)top (D)ancing
What is Conditions Submit Date?
400
Person responsible for gathering and analyzing all info requested by the underwriter.
Who is the Processor?
400
The only items that Processors can change in the "Fees" screen.
What are HOI (Hazzard) & taxes?
400
The date moving the loan back to the underwriters desk for a final review.
What is APD?
400
Lender's commitment to a borrower for an exact interest rate as long as the loan closes in time.
What is Locked?
500
(R)ansom (E)li (O)lds speedwagon
What is Real Estate Owned?
500
Reviews the loan and confirms the borrower meets guidelines for the loan.
Who is the Underwriter?
500
The document used to confirm the Borrower's marital status & number of dependents shown on 1003.
What is Tax Return?
500
The date entered by the Processor if the Title contact information is present in Loan Data.
What is Title Agent Added?
500
This occurs when a Seller agrees to sell a property for an amount that is less than their current loan on a property.
What is a Short Sale?