SELLER GUIDE

SELLER GUIDE

? 2015 Planet Home Lending, LLC. All rights reserved. Unauthorized use is expressly prohibited. This Seller Guide ("Guide") and all information contained herein is the property of Planet Home Lending, LLC and is intended for use by mortgage professionals only and is not for public distribution. Mortgage rates, loan terms, and parameters are subject to change without notice due to the nature of the industry. Announcements will be issued promptly to notify Sellers of policy and program changes. No part of the Seller Guide may be modified, released, or reproduced in any form, by photocopy, scanning, or any other means or incorporated into any publication or information retrieval system, electronic or manual, without the express written permission of Planet Home Lending, the owner. Changes are made periodically to this Guide and revisions, technical inaccuracies, and typographical errors will be corrected in subsequent editions.

? 2015 Planet Home Lending Seller Guide

Table of Contents

INTRODUCTION Use of the Seller Guide Updates to the Seller Guide Planet Home Lending Website Doing Business with Planet Home Lending

DIRECTORY

CHAPTER 1 - SELLER ELIGIBILITY Correspondent Approval Overview Eligibility Financial Net Worth Experience Fair Lending Errors & Omission/Fidelity Bond Litigation Delegation Non-Delegation

FHA Sponsored Third-Party Originator (TPO) FHA Principal/Authorized Agent Underwriting Delegation Eligibility TPO (Third Party Origination) Government Loans FHA Approval Request VA Approval Request USDA Approval Request Application Process Approvals Seller Approval Special Approvals Ongoing Requirements Annual Recertification Maintaining Eligibility and Authorities Termination Termination with Cause Termination without Cause

? 2015 Planet Home Lending Seller Guide

4/2018

Table of Contents

CHAPTER 2 ? COMPLIANCE Compliance Overview Newly Enacted Laws and Acts State Specific Requirements PHL Commonly Used Terms Defined Anti-predatory Lending and Fair Lending Guidelines Policy LDP and GSA List Verifications OFAC SDN List Verification Loan Estimates Closing Disclosure Re-Disclosure APR, Finance Charge, and Per Diem Interest Collection Cures Notice of Borrower's Right to Cancel Invoices Patriot Act ? Mandatory Compliance Patriot Act Disclosure ? Borrower Information Data Collection of Information for Government Monitoring Purpose Loans Ineligible for Purchase Higher-Priced Mortgage Loans Ability to Repay/Qualified Mortgage QM APR Thresholds ECOA Valuations Rule HOEPA Counseling Disclosure NMLS Identification Quality Control Requirements

CHAPTER 3 ? PRIOR APPROVAL Loans Submitted for Prior Approval Delegated Sellers Non-Delegated Sellers

CHAPTER 4 ? MORTGAGE INSURANCE Overview Eligible Mortgage Insurance Companies Eligible Types of Mortgage Insurance Ineligible Types of Mortgage Insurance QM Points and Fees Test Coverage Requirements

? 2015 Planet Home Lending Seller Guide

4/2018

Table of Contents

CHAPTER 5 ? PRODUCTS AND PROGRAMS Overview Conventional Programs

Fannie Mae Conforming Program Fannie Mae High Balance Program Fannie Mae DU Refi Plus Program Fannie Mae HomeReady Program Fannie Mae Texas 50(a)(6) & Texas 50(f) Prime Jumbo Program Freddie Mac Program Fannie Mae Texas 50(a)(6) & Texas 50(f) Government Programs FHA Conforming and High Balance Program

Presidentially ?Declared Major Disaster Area Mortgages -203(h) FHA Streamline Program FHA 203(k) Standard and Limited VA & VA IRRRL Program USDA Purchase & Non-Streamline, Streamlined and Streamlined Assist Refinance Programs All Programs Loan Documents Fannie Mae Conforming Program Guidelines Texas 50(a)(6) and Texas 50(f) Fannie Mae High Balance Program Guidelines Fannie Mae DU Refi Plus Program Guidelines Fannie Mae HomeReady Program Guidelines Prime Jumbo Program Guidelines Freddie Mac Conforming and Super Conforming Program Guidelines Texas 50(a)(6) and Texas 50(f) FHA Program Guidelines Presidentially-Declared Major Disaster Area (PDMDA) or 203(h) Program Guidelines FHA Streamline Program Guidelines FHA 203(k) Standard Program Guidelines FHA 203(k) Limited Program Guidelines VA Program Guidelines VA IRRRL Program Guidelines USDA Purchase & Non-Streamlined, Streamlined and Streamlined Assist Refinance Program Guidelines

? 2015 Planet Home Lending Seller Guide

4/2018

Table of Contents

CHAPTER 6 ? LOCK REGISTRATION AND COMMITMENTS

Lock Registration Rate Sheets Locking a Loan Maximum Locks per Day Daily Pricing Intra-Day Pricing Changes Lock A Loan Where Subject Property is TBD Locked Loan Changes Incomplete Lock Information Error Notification Lock Commitment Lock Commitment Options Best Efforts Commitment Mandatory Commitment Long Term Rate Lock Commitment Lock Confirmation Rate Lock Extensions Expirations Lock Expiration Relocks Holiday or Weekend Lock Expirations Locked Loan Delivery Policy Purchasing Disposition Conditions Cleared By Date Deficiency Fees Pair off Fees Calculations of Pair Off Fees Pair Off Fee Notification

CHAPTER 7 - LOAN SUBMISSION THROUGH CORE Overview Loan Submission Upload Conditions Incomplete Closing Packages Condo Analytics

? 2015 Planet Home Lending Seller Guide

4/2018

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