Prepare and issue initial broker and lender specific disclosures in compliance with CFPB, RESPA, BRE and/or HUD/VA regulations
Receive, review & calculate all documentation for submission to Lender
Run DU/LP on active files ready for submission (LO responsible for prequals)
Complete full, organized submission to Lender
Order appraisal (unless LO prefers to)
Review approval for accuracy and formally request conditions from borrower
Work all other approval conditions (escrow/title/agents/3rd parties, ect)
Welcome call to borrower to ensure approval email received
Followup, receive, review and submit all conditions for signoff
Order docs and advise LO/borrower of any estimated funds needed to close and what bank account should be used
Issue compliant final broker disclosures
Request, receive, review and submit all prior to funding conditions & see loan through funding
Post close QC review to ensure compliance with the CFPB, BRE, HUD or VA requirements
Send closed file to broker via email, dropbox or scanned to disk (Broker’s choice)
Issue broker weekly pipeline reports every Monday
PARTNERSHIP
LOAN OFFICER RESPONSIBILITIES INCLUDE:
Ensuring the loan fits all lender guidelines prior to submission to processing
Ordering and reviewing initial credit report
All discussions with the borrower regarding the loan terms and follow up on getting the disclosures and needs list back to us (processing will take over all communication after that)
Locks, re-locks and extensions
Provide processing with our completed In-Take form, Point or FNMA file, credit report (and purchase contract if applicable)
Advise processing when to order the appraisal and LO is responsible for all appraisal rebuttals/reconsideration of value requests
Pre-quals
We process both Refinance and Purchase - FHA, VA, USDA or Reverse Mortgage Loans
