Show:
Loan Status
Conditions
FHA Basics
VA Basics
Post Closing Basics
100

Name the 3 loan statuses 

Post Close Problem

Post Closed

Collateral Deficiency  

100

What are the three condition statuses?

Error 

Waive 

Approve

100

What does FHA stand for?

Federal Housing Administration 

100

What document is required on all VA loan types?

VA certificate of Loan Disbursement 

100

Where can you find the PCR Process Guide?

In Academy

200

What status would you flip the loan to if you have a condition for the Security Instrument

Post Closed

200

What status should this condition be set to? 

Provide 1004D to certify completion of subject property 

Error

200
You are working a government loan. UCD has failed and you are missing the security instrument. What insuring status would this loan be?

Insuring problem

200

Who fills out the UWM lender certification? 

YOU (Post Closer)

200

Can post closers work loans with no SLA number?

No 

300

What status would you flip the loan to if you have a condition for the note

Collateral Deficiency

300

What status should this condition be set to? 

Title company to reimburse Stepping Stone Mortgage, Inc for Credit Report Fee of $60.42

Waive

300

What three signatures are needed on the FHA Settlement Certification?

Borrower, Seller, and Settlement agent

300

What is the acceptable recoupment period?

0-36 months

300

What application houses all the documents for the loan?

Dochub

400

What status would you flip the loan to if you have a condition for Riders and Missing Final Borrower CD

Post Closed Problem

400

What documents can we accept for the REO condition?

Settlement statement or Seller Cd that is fully executed

400

What document do we generate with our signature on it?

FHA/VA Addendum

400

Whose signature are we required to look at on the loan application? (other than the borrower)

Loan Officer

400

What application has the PCR checklist?

EDGE

500

What status would you flip the loan to if you have a condition for FEMA Disaster and Right to Cancel

Collateral Deficiency 

500

Name the conditions categories we do not touch

Underwritting

Compliance

Final Docs

500

What are the two items on the conditional commitment that require review?

Issue/Expiration Dates and Underwriter Signature

500

What does IRRRL stand for?

Interest Rate Reduction Refinance Loan

500

What is the GRID?

EASE. It is where we can pull our loans to work.