Conditional Loan Approval
True or False - We will always allow a customer to use an OSL if they are denied with Pulte Mortgage
False - No where in our contract are we required to allow a buyer that was denied with a mortgage company the opportunity to use another lender. We will consider it if we have a fully underwritten conditional approval that is approved by your GSM and Regina. It is always on a case by case basis.
True or false once a buyer tells you they want to cancel, your next step is to cancel the home in HS or PHD.
False - The buyer must sign the termination agreement or we must send a termination default releasing the contract before we can cancel the home in the system.
When should you update your website with accurate incentives?
Anytime you receive the spec pricing report from your GSM and there has been a change in incentive.
Who all is needed on the email when reserving funds?
Bob, Regina, Your mfa and your gsm
How long are the time blocks for oss appts?
1.5 hours
How many days does a buyer have to supply conditional loan approval on a spec?
10 days
What is the correct docusign order for who receives the termination agreement?
Contract acctg,
Regina
Buyers
CC your gsm
Can you use the $7000 flex incentive if someone is using the forward commitment?
No- additionally as a best practice the $7000 should be used as back pocket money only.
In order to reserve funds, what are the items required?
First page of the contract, the JIO, the EM deposit must be paid and the registration template must be filled out
How do you complete an appt in CRM?
First you assign it to yourself and then you complete the appt.
Refer to the slide show which one of these is a conditional approval?
This is not a conditional loan approval letter
True or False- If the buyer gets denied with PMC they receive their deposits back
False - design deposits are never refundable and if a buyer has achieved conditional approval they do not get their earnest money back.
If a buyer signs up with the forward commitment and decides not to use it, can you create a price adjustment to offer them the $7000?
No. The only incentives allowed are the ones given at contract and are not interchangeable.
As a best practice, which rate and discount points should you be quoting on the spreadsheet with customers?
The highest rate.
Once the OSS team sets an appt, when do you reach out to introduce yourself?
Immediately unless you are not working then you would reach out the morning you get back.
Refer to the slide show which one of these is a conditional approval?
This is not a conditional loan approval letter
If a buyer elects to terminate, what documentation is needed on our end to be able to proceed with the cancellation.
An email or text stating they are no longer moving forward.
When your community takes option price increase, what is your next step?
Check your flyers and brochures to update with accurate pricing
Get with Sydne and let her know the new price so she can manually update pricing
True are False - Once you send the email and JIO for the reservation, your buyer is locked in to receiving the forward commitment funds.
False - The forward commitment is not secure until Denver comes back and says it is secured.
What is the latest appt our OSS team is allowed to schedule?
5:00pm
DAILY DOUBLE
This is a conditional loan approval letter
Why is it important to cancel a buyer the same day that they tell you they do not want to move forward or that they are denied?
For auditing purposes the dates need to match
If a buyer receives the MIRP (washer dryer fridge promotion) when do you add the appliances?
When you are creating the contract.
What circumstances could change the discount points shown on the forward commitment email to what the buyer is actually quoted by their LC?
DTI, credit scores or downpayment
When emailing our OSS team, which email should you use?
(List) Dallas - OSS Team <ListDallas-OSSTeam@Pulte.com>