Submission checklist 101
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Transcript of Submission checklist 101
Streamline Requirements Checklist
OLD RULES CREDIT QUALIFY
NEW RULES NON‐CREDIT QUAL
GENERAL FHA Submission Cover Letter
Qualifier or Marksman
Rate Lock
LEGAL NTB test
OTHER LEGAL Identification (If address is not correct, need a LOE)
Patriot Act form
Copy of SS card or Discover Source results
APPLICATION Case number assignment from FHA connection with MIP refund and CAIVRS success
CREDIT Tri‐merge Credit report pulled with all scores
Non‐Credit Qualify – Mortgage Only with Scores
Credit supplement for current mortgage, if necessary
12 month residence history of payments, Prior:
Owner, credit supp Renter, VOR
Written LOX for any major derogatory credit or recent (2 yrs) derogatory credit
Copy of First Mortgage Note
Payoff
Escrow Shortage Payoff Worksheet
Current Mortgage Statement (optional)
INCOME Income worksheet (spreadsheet or manual form)
Paystubs dated within 30 days. (Covering 30 days)
Asset Documentation ‐ Two months bank statements, VOD etc. (Covering any cash shortages
to close or reserve requirements)
4506T results
Credit Qual—Written VOE covering 2 year history of OT or Commissions if using
INSURANCE Homeowners insurance with mortgagee clause change
MISC‐App 1003 (Fully completed covering 2yr residency/employment/income)
MISC‐Credit Original Credit report pulled
RESPA’S LEGAL 4506T‐Must be signed and dated within three days of application.
Borrowers Certification and Authorization
ABA‐K2 Disclosure
TIL (does not have to be signed)
OTHER LEGAL Important Notice to Homebuyers (92900B)‐Signed and dated within three days of
application.
(2 pages)
Reviewed by: <Insert Br Mgr or SM Mgr name>__________ <Insert Br Mgr or SM Mgr name>__________
Name: Loan #:
Notice to Homeowner Assumption of HUD/FHA‐Needs to be signed prior‐to‐closing.
Credit Score Disclosure‐Must be signed and dated within three days of application.
Informed Consumer Choice‐Must be signed and dated within three days of application.
Notice of Intent to Proceed with Loan Application
SSA Auth for Release of SSN Verif‐Must be signed and dated within three days of application.
GFE (does not have to be signed)
APPLICATION Application (1003)‐Signed and dated within three days of application.
92900A/1820A‐Signed and dated within three days of application. (2 pages)
CREDIT Credit Attestation (2 pages)
APPRAISAL Appraisal (2 current sales within 90 days plus 2 active listings)
(if applicable) Appraisal invoice
Appraiser’s license and E&O
AVM data
2055 or 2nd appraisal (if applicable)
Appraiser ineligible list
Purchase: Purchase agreement
Termite inspection, NP99a and NP99b
Well/Septic inspection
Condo Spot Approval and/or Questionnaire
Flood Notice to Borrower