Complete file review with 48 hours of submission to processing, upload items from Sharepoint to Xdocs
Provide needs list of items needed from the borrower to LO team
Order any additional 3rd party items needed and follow up on any previously ordered items
Once you have enough information for the UW to be able to evaluate income, credit and assets, submit to UW – goal is 4 business days from submitted to processing
File will be reviewed by UW within 48 hours and send out an automate UW transmittal
Processor to review the approval with 24 hours and request any items needed from the borrower from the LO team and any 3rd party items from the appropriate source (title, survey appraisal etc)
CD checklist to be completed and CD ordered once all required documentation is in the file – this needs to be ordered at least 5 business days prior to closing
Once all conditions are received, they are uploaded to Xdocs and the file resubmitted to UW for review – this needs to be completed at least 11 business days prior to closing in order to close on time
UW approval to be reviewed within 24 hours, if CTC received, closing checklist to be completed and file submitted to closing (files submitted by 5 pm will be picked up by a closer the next business day)
Once a closer is assigned to the file they will send out a list of prior to doc requirements if any (if the closing checklist is completed there shouldn’t be any
Once the closer completes the final CD it is sent to title for balancing and approval.
Once the CD is approved by closing and title, branch approval is requested
Once branch approval is received the CD is uploaded to the esigning room for the borrower to sign
It is the LO team’s responsibility to ensure the borrower signs the CD
The processor is responsible for the file until a funding number is issued