Loan Operations Overview
Three letter abbreviation of the department
What is LOC?
A document produced notifying an applicant when a loan application is declined
What is an Adverse Action Notice?
Location on UConnect where all critical and material exceptions can be easily accessed
What is the Loan Dashboard?
Minimum number of days prior to month end for booking submission
What is 3 days?
Make, Increase, Renew, and Extend
What is a MIRE Event?
Online system used to generate an account number for a customer
What is UNumber?
Form created by Lender/Lending Assistant for requesting loan documents
What is the Loan Worksheet (or LOA Worksheet)?
Three letter abbreviation indicating an Exception has been cleared
What is CLR?
Workflow used to submit loan packages for booking
What is Unity or Unity Workflow Booking?
Workflow used to submit all flood requests
What is the LOC Flood Insurance Request workflow (or Unity Workflow)?
Name of the Loan Ops channel that books loans to the core system
What is Loan Servicing?
A loan product requiring Lender to obtain original issued letter and sight draft when not renewing
What is a Letter of Credit?
Code indicating Loan Ops is responsible for the exception rather than the lender
What is Responsibility Code 2582?
Used to submit a coding change to a loan already booked into Navigator
What is Unity Workflow Maintenance?
Notification from the flood team of collateral in a Special Flood Hazard Area
What is the Flood Positive email notice?
Loan Operations helps manage ___ and oversight of United’s loan processes
What is risk?
Document that will assist in choosing the correct Class/Purpose/Collateral code combination
What is the Class Code Matrix (or Code Matrices)?
Document used to address material, non-curable exceptions
What is the Document Acknowledgement Form?
Coding document used to book an attorney prepared loan
What is the manual Boarding Data Sheet?
Insurance type that is Non-Waivable
What is Flood (SFHA) Insurance?
Executive Director of Loan Operations
Who is Christy L. Foster?
Loan system Doc Prep uses to prepare standard and non-complex loan packages, including Real Estate loans
What is LaserPro?
Documents allowed to be emailed to the LOC Scanning email box for clearing
What are Non-Critical (or Material) Exceptions?
Loan Transaction Code used to close a credit line permanently
What is tran code 385?
Notice required before the Doc Prep team will release loan documents to the lender
What is the Flood Clear to Close notice?