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For loan officers
Loan summary checklist
Income
What income are we using? ex: W2, self employed, SSA, pension, IRA distribution, foster care, etc.
Is there income we are not going to use to qualify?
Is there any documentation we should not submit?
Credit
Were the borrowers on a payment assistance program?
Refinance
How much cash back are we aiming for on a cash-out?
REO
If there are rentals, are we using rental income?
Can we avoid using rental income?
Other
Are we deeding anyone off title? Is anyone getting added to title?
Is there a non-borrower spouse? If so, what is their name?
If the property is currently held in a trust are we closing in the borrowers names and deeding into the trust the following day?
Other
Have you already requested additional documentation that we are waiting on?
