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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?