 |
|
|
|
|
 Closing and Document Services |
- Pre-closing quality control audit
- Includes review of all closing critical documents to ensure consistency and accuracy of data throughout loan file. If discrepancies are discovered, lender is contacted for issue resolution prior to release of loan documents and funds as appropriate.
- Fee Sheet
- Underwriting Approval
- 1008
- 1003
- Lock
- MI (if applicable)
- Hazard Insurance
- Flood Certificate
- Flood Insurance (if applicable)
- Wiring Instructions
- Closing Protection Letter/E & O
- Title Commitment
- Tax Information
- Appraisal
- Sales Contract (if applicable)
- Document Preparation
- Data entry to create documents.
- Review of investor program requirements (margin, caps, etc.).
- Prepare documents in accordance with underwriting approval and lender/investor provided lock.
- Review and pull the correct information from documentation provided in order to create accurate loan documents.
- Clear and resolve data discrepancies with lender prior to release of documents.
- Create and pull documents from investor approved document vendor.
- Preparation and delivery of lender figures to Closing Agent
- Fee validation and verification.
- Verification of title fees with closing agent to ensure proper disclosure on TIL calculation and APR disclosure.
- Verification of Property Tax Information with settlement agent.
- Preparation of HUD/preliminary figures to lender specifications.
- Delivery of preliminary figures to closing agent.
- Delivery of Documents to Closing Agent
- Conventional or electronic delivery of loan documents to closing agent.
|
| Funding and HUD Review |
- HUD review and approval
- Review initial HUD prior to signing/closing.
- Review final signed HUD for changes.
- Condition review and funding approval
- Ensure all escrow/closing conditions are met prior to funding.
- Issue funding/disbursement authorization.
- Funds Request
- Prepare and deliver per lender or warehouse line specified parameters.
|
| Escrow Review And Post Closing Services |
- Track/retrieve final signed loan package.
- Review and merge credit/underwriting package with final signed document package when applicable.
- Escrow Review and Post Closing Audit.
- Create and deliver of post closing discrepancy report.
- Stack and deliver post closing package to investor in specified delivery order.
- Stack, review, and deliver collateral package to warehouse line (when applicable).
- Deliver investor package conventionally or electronically depending upon investor specifications and capabilities.
- Perform and coordinate exception clearing.
- Underwriting or processing related exceptions may require lender participation.
- Trailing document follow-up (recorded docs and final title policies).
- MERS Registration
|
| Vendor Management Services |
- Compliance Checks
- Section 32
- HOEPA
- State specific predatory lending requirements
- State specific prepayment restrictions
- TPO Licensing checks
- Flood Certification
- Submit order with designated product type (Regular, life of loan, etc.).
- Review for data integrity and correct any discrepancies.
- Follow-up with Flood Insurance requirements when applicable.
- Fraud Checks
- SSN Verification
- OFAC Check
- MERS Registration (when applicable)
- Verbal VOEs
- Self-employed not included
|
| QC and Sub Servicing Services |
- Deliver data files for automated boarding.
- Deliver electronic images of required paper.
- Goodbye Letters (when applicable)
|
| Reporting |
- New Files created YTD Report
- MTD Files Closed and Disbursed Report
- YTD Files Closed and Disbursed Report
- Lock Expiration Report
- Trailing Documents Report
- Files Closed but not received Report
- Consolidated Exceptions Report
- Year-End 1098 Reporting (when applicable)
|
| Consulting Services |
- LOS Configuration
- MERS Setup
- Processing Policy and Procedures
- HMDA Reporting
- Internal Closing and Post Closing Policy and Procedures
- Warehouse Line Management
|
| TLC Advantages |
- Web based application
- 24/7 access
- Complete and unlimited visibility to data and paper on every loan file
- Multiple people can view and work in a file simultaneously
- Paperless once file is delivered to investor.
- Interactive communication
- Automated tracking
- Uniformity and Consistency
- Quality Assurance
- Risk Mitigation
- Variable Cost
- Monthly CD with electronic images provided for record retention purposes
|
|
|
|
|
|