Go with the FLOW
Entering a Date in this field, recorded the Pre-Approval Decision Date.
What is the TBD Initial Credit Decision Date?
These boxes must be checked on a Condition for it to be seen by the member, as a member requirement.
What are the "Make Borrower Facing" Column, "Print on Form" and "Doc/Borrower Facing" on Edit Condition Tab?
According to the UW Hot Topics Checklist, employment & income and assets docs should not be aged more than this many days prior to application.
What is 45 days?
The UW Review Template ensures these 4 areas of review are addressed.
What are Credit, Employment/Income, Assets, and Property/Collateral?
When completing a Denial in MCP, a date must be entered on the Suncoast Date Screen in this field.
What is Final Decision Date?
Clearing this Task indicates that the review a Pre-Approval has been completed.
What is Confirm Lead Pre-Approval?
The condition for Tax Transcripts should be added in these situations.
What are Handwritten Tax Returns, Employed by Family or UW Discretion for any income red flags?
The UW Hot Topics Checklist reflects this reminder as a requirement for a FTHB under Property & Collateral Review.
What is the Homebuyer Education Course Completion Certificate?
This is the purpose of the UW Review Template.
What is to tell the story of the loan in an easy to read and clear manner?
On a TBD Review, when the member provides income and asset documentation, and the file is being declined, this box must be checked on the Action Taken Screen in MCP.
What is Pre-Approval?
The completion of the questions on this screen is required to ensure we are reporting appropriately on our lending practices.
What is the HMDA Relied Upon/Refinance Questions?
When the member provided credit report does not return scores or does not reflect a minimum of 3 tradelines, a condition for how many of this type of reference must be provided.
What is 3 reference of Non-Traditional Credit for each member using Non-Traditional Credit for qualification.
The UW Hot Topics Checklist reminds a reviewer to check the paystubs for this possible deduction.
What are non-401K loan payment deductions?
The UW Review Template needs to include this when an EMD is required.
What is how it was verified or if it was backed out of available assets?
This is the name of the Document that is generated in MCP after a Final Decision of Denied is given.
What is Adverse Action Package?
A best practice when reviewing Documents is to add a label or notes to this column.
What is Misc 2?
When retaining a property a condition for written documentation to verify these items must be added to the Underwriting Conditions Screen.
What are recurring monthly expenses - Property Taxes, Homeowner's Insurance and HOA Dues.
The UW Hot Topics Checklist lists these 2 options when referencing the EMD.
What are validate the source of the EMD or back out of the assets?
In the UW Review Template the Employment/Income indicates this was reviewed for the FTHB Product.
What is the HUD Median Income Limits?
Running this Utility in MCP will change the status of the loan to Denied (R).
What is Deny Loan (R)?
These are the four possible decisions that can be made on an Upfront Review or Pre-Approval Review.
What are Approved, Suspend, Counteroffer or Decline?
This Condition should be manually added to each file to ensure that important dates are not overlooked in the file.
What is the Doc Exp Calc?
The UW Hot Topics Checklist indicates these 2 options when calculating Student Loan payment.
What are 1% of the outstanding balance or IDR (income driven repayment) documentation?
The UW Review Template references "Requested Items", which should be a mirror to this MCP Screen, Borrower Facing List.
What is Underwriting Conditions?
Darlene Johnson states "every loan is a yes until" this many "reasons for a no have been found."
What is two?