PURCHASE/CONSTRUCTION (Fixed Rate)
PURCHASE/CONSTRUCTION (Fixed Rate/Non-HMDA)
BORROWER: __________________________________________________________ SSN: ______________________________
LOAN OFFICER: _________________________________________ CLOSING DATE: _________________________________
PURPOSE/COMMENTS:______________________________________________________________________________________
At application:
|_______ |1. Application ** |Date Received: ______________________ (Includes NMLS Names/IDs) |
| | |___In person ___ Dropped off ___ Mailed ___ Phone ___ Electronic |
|_______ |2. Government Monitoring Information |(race, sex, ethnicity) – N/A for construction only loan |
|_______ |3. CIP information obtained |(name, physical address, SSN, date of birth) |
|_______ |4.. Evidence of Intent to Apply – Reg B |If more than 1 applicant |
|_______ |5. Credit insurance application disclosure |(provide orally and in writing at time insurance product solicited/offered) |
Within 3 business days of application:
|_______ |1. Good Faith Estimate* |(may not charge fees (except credit report) until applicant has received) |
|_______ |2. HUD Settlement Booklet | |
|_______ |3. Preliminary Truth in Lending* |(may not charge fees (except credit report) until applicant has received) |
|_______ |4. Servicing Transfer Disclosure* |(only if 1st lien) |
|_______ |5. Notice to Home Loan Applicant |(or as soon as reasonably practical after the credit report is pulled) |
|_______ |6. Intent to Proceed |(must be after the GFE is received by applicant and prior to charging fees) |
|_______ |7. Homeownership Counseling List |(must be obtained within last 30 days and based on applicant’s zip code) |
|_______ |8. Appraisal Disclosure |(1st lien or HPML) |
Prior to closing:
|_______ |1. Flood Hazard Determination Form |In Flood Zone? _____ Yes _____ No |
| |(includes mobile home loans) | |
|_______ |2. Flood Notice (if in flood zone) |(Provide a reasonable time prior to closing or no later than commitment) |
|_______ |signed by borrowers | |
|_______ |3. Verify CIP information | |
|_______ |4. Higher-Priced Mortgage Loan*** | |
|____ Escrow Account (Unless Exempt) |
|____ Appraisal Requirements (Unless Exempt) |
| |
|_______ |5. APR Within Tolerance |.125% tolerance for a Regular Transaction |
| | |.250% tolerance for an Irregular Transaction |
|_______ |6. Copy of Appraisal |(1st lien: Provide promptly and at least 3 business days prior to closing) |
| | |(Other lien HPML: Provide at least 3 business days prior to closing) |
|_______ |7. If high-cost mortgage, HCM disclosure 3 business days prior to closing (each borrower/consumer w/ right to rescind) |
|_______ |Written Certification of Counseling Obtained (if High-Cost Mortgage) |
|_______ |8. Ability to Repay |(Using third-party verification) |
|_____ Income or Assets |____Employment Status |_____ Monthly Payment (this loan) |
|_____ Debts |____Monthly Debt Ratio/Residual Income |_____ Credit History |
|_____ Monthly Payment (Simultaneous Loans) |_____ Monthly Payment: Mortgage Related Obligations |
1 Day Prior To Closing: (only if requested by borrower - otherwise the HUD-1 may be provided at closing)
|_______ |1. HUD-1 | |
Closing:
|_______ |1. Right of Rescission signed |(2 copies to each consumer who has an ownership interest and property is their primary |
| |(Bridge loans only) |residence) |
| | Advance money on ______________ |
|_______ |2. Note signed |(compare to Final TIL for accuracy; Include NMLS Names/IDs) |
| _____ |3. Insurance |(Verify flood zone; adequate coverage; effective date; and mortgagee info) |
|_____ |Hazard insurance | |
|_______ |Flood insurance | |
|_______ |4. Sale of Insurance disclosure |(if an insurance product is sold in connection with the loan) |
|_______ |5. Privacy Disclosure |(if not an existing customer) |
|_______ |6. Final Truth in Lending Disclosure |(compare to note) |
| | _____ Demand feature |_____ Filing fees |
| | _____ Loan cannot be assumed |_____ No prepayment penalty |
| | _____ Collateral is described |_____ No refund of Finance Charge |
| | _____ Credit insurance |_____ Amount Financed itemized (N/A if a HUD-1 is provided) |
| | _____ Late charge | |
After Closing:
|_______ |1. Notice of Transfer |(if loan is sold to another institution) |
Final Loan File Review:______________________________________________________
*If application is for construction/permanent financing: A Servicing Transfer Disclosure, Good Faith Estimate and Preliminary Truth in Lending disclosure, for both the construction phase and the permanent financing, must be provided within 3 business days of the initial application.
**Cannot include verification documentation.
***HPML escrow rules do not apply to construction loans, bridge loans or other temporary financing with a term of 12 months or less; HELOCs, or reverse mortgages. HPML appraisal requirements do not apply to construction loans, bridge loans with a term of 12 months or less (if in connection with the purchase of a primary dwelling); Qualified Mortgages; streamlined 1st lien refinancings meeting certain conditions; smaller dollar loans; loans secured by manufactured homes (until 7-18-15), mobile homes, boats, or trailers; or reverse mortgages. Certain flipped transactions require a second appraisal.
REFINANCE (Fixed Rate/Non-HMDA)
BORROWER: _______________________________________________________________ SSN: _______________________
LOAN OFFICER: ________________________________________________ CLOSING DATE: ___________________________
PURPOSE/COMMENTS:______________________________________________________________________________________
At application:
|_______ |1. Application* |Date Received: ____________________(Includes NMLS Names/IDs) |
| | |__In person ___Dropped off ___Mailed __Phone ___ Electronic |
| |2. Government Monitoring Information |(race, sex, ethnicity); Includes mobile home loans |
|_______ |3. CIP information obtained |(name, physical address, SSN, date of birth) |
|_______ |4. Evidence of Intent to Apply – Reg B |If more than 1 applicant |
|_______ |5. Credit insurance application disclosure |(provide orally & in writing at time insurance product solicited/offered) |
Within 3 business days of application:
|_______ |1. Good Faith Estimate |(may not charge fees (except credit report) until applicant has received) |
|_______ |2. Preliminary Truth in Lending |(may not charge fees (except credit report) until applicant has received) |
|_______ |3. Servicing Transfer Disclosure |(only if 1st lien) |
|_______ |4. Notice to Home Loan Applicant |(or as soon as reasonably practical after the credit report is pulled) |
|_______ |5. Intent to Proceed |(must be after the GFE is received by applicant and prior to charging fees) |
|_______ |6. Homeownership Counseling List |(must be obtained within last 30 days and based on applicant’s zip code) |
|_______ |7. Appraisal Disclosure |1st lien or HPML |
Prior to closing:
|_______ |1. Flood Hazard Determination Form |In Flood Zone? _____ Yes _____ No |
| |(includes mobile homes) | |
|_______ |2. Flood Notice (if in flood zone) |(reasonable time prior to closing or no later than commitment) |
|_______ |signed by borrowers | |
|_______ |3. Verify CIP information | |
|_______ 4. If high-cost mortgage, HCM disclosure 3 business days before closing(each borrower/consumer w/ right to rescind) |
|_______ Written Certification of Counseling Obtained (if High-Cost Mortgage) |
|_______ 5. Higher-Priced Mortgage Loan** |
|____ Escrow Account (Unless Exempt) |
|____ Appraisal Requirements (Unless Exempt) |
| |
|_______ |6. Ability to Repay |(Using third-party verification) |
| |_____ Income or Assets |
| |_____ Employment Status |
| |_____ Monthly Payment (this loan) |
| | |
| |_____ Debts |
| |_____ Monthly Debt Ratio/Residual Income |
| |_____ Credit History |
| | |
| |_____ Monthly Payment (Simultaneous Loans) |
| |_____ Monthly Payment: Mortgage Related Obligations |
| | |
| | |
| | |
|_______ |7. APR Within Tolerance |.125% tolerance for a Regular Transaction |
| | |.250% tolerance for an Irregular Transaction |
|_______ |8. Copy of Appraisal |(1st lien: Provide promptly and at least 3 business days prior to closing) |
| | |(Other lien HPML: Provide at least 3 business days prior to closing) |
1 Day Prior To Closing: (only if requested by borrower - otherwise the HUD-1 may be provided at closing)
|_______ |1. HUD-1 or HUD-1A | |
Closing:
|_______ |1. Right of Rescission signed |(2 copies to each consumer who has an ownership interest and property is their primary |
| | |residence) |
| | Advance money on ______________ | |
|_______ |2. Note signed |(compare to Final TIL for accuracy; Include NMLS Names/IDs) |
|_______ |3. Insurance |(Verify flood zone; adequate coverage; effective date; and mortgagee info) |
|_____ |Hazard insurance | |
|_____ |Flood insurance | |
|_______ |4. Sale of Insurance disclosure |(if an insurance product is sold in connection with the loan) |
|_______ |5. Privacy Disclosure |(if not an existing customer) |
|_______ |6. Final Truth in Lending disclosure |(compare to note) |
| | _____ Demand feature |_____ Filing fees |
| | _____ Loan cannot be assumed |_____ No prepayment penalty |
| | _____ Collateral is described |_____ No refund of Finance Charge |
| | _____ Credit insurance |_____ Amount Financed itemized (N/A if a HUD-1 is provided) |
| | _____ Late charge | |
After Closing:
|_______ |1. Notice of Transfer |(if loan is sold to another institution) |
Final Loan File Review:______________________________________________________
*Cannot include verification documentation.
**HPML escrow rules do not apply to construction loans, bridge loans or other temporary financing with a term of 12 months or less; HELOCs, or reverse mortgages. HPML appraisal requirements do not apply to construction loans, bridge loans with a term of 12 months or less (if in connection with the purchase of a primary dwelling); Qualified Mortgages; streamlined 1st lien refinancings meeting certain conditions; smaller dollar loans; loans secured by manufactured homes (until 7-18-15), mobile homes, boats, or trailers; or reverse mortgages.
HOME IMPROVEMENT/HOME EQUITY (Fixed Rate/Non-HMDA)
BORROWER: _______________________________________________________________ SSN: _______________________
LOAN OFFICER: ________________________________________________ CLOSING DATE: ___________________________
PURPOSE/COMMENTS:______________________________________________________________________________________
At application:
|_______ |1. Application * |Date Received: _________________________ (Include NMLS Names/IDs) |
| | |___ In person ___ Dropped off ___ Mailed ___ Phone ___ Electronic |
| |⇒ Do Not Collect Government Monitoring Information |
|_______ |2. CIP information obtained |(name, physical address, SSN, date of birth) |
|_______ |3. Evidence of Intent to Apply – Reg B |If more than 1 applicant |
|_______ |4. Credit insurance application |(provide orally and in writing at time insurance product solicited /offered) |
| |Disclosure | |
Within 3 business days of application:
|_______ |1. Good Faith Estimate |(may not charge fees (except credit report) until applicant has received) |
|_______ |2. Preliminary Truth in Lending |(may not charge fees (except credit report) until applicant has received) |
|_______ |3. Servicing Transfer Disclosure |(only if 1st lien) |
|_______ |4. Notice to Home Loan Applicant |(or as soon as reasonably practical after the credit report is pulled) |
|_______ |5. Intent to Proceed |(must be after the GFE is received by applicant and prior to charging fees) |
|_______ |6. Homeownership Counseling List |(must be obtained within last 30 days and based on applicant’s zip code) |
|_______ |7. Appraisal Disclosure |(1st lien or HPML) |
Prior to closing:
|_______ |1. Flood Hazard Determination Form |In Flood Zone? _____ Yes _____ No |
| |(includes mobile homes) | |
|_______ |2. Flood Notice (if in flood zone) |(reasonable time prior to closing or no later than commitment) |
|_______ |signed by borrowers | |
|_______ |3. If high-cost mortgage, HCM disclosure 3 business days prior to closing (each borrower/consumer w/ right to rescind) |
|_______ |Written Certification of Counseling Obtained (if High-Cost Mortgage) |
|_______ |4. If Higher-Priced Mortgage Loan** | |
| |____ Escrow Account (Unless Exempt) |
| |____ Appraisal Requirements (Unless Exempt) |
| | |
|_______ |5. Verify CIP information | |
|_______ |6. Copy of Appraisal |(1st lien: Provide promptly and at least 3 business days prior to closing) |
| | |(Other lien HPML: Provide at least 3 business days prior to closing) |
|_______ |7. APR Within Tolerance |.125% tolerance for a Regular Transaction |
| | |.250% tolerance for an Irregular Transaction |
|_______ |8. Ability to Repay |(Using third-party verification) |
|_____ Income or Assets |____Employment Status |_____ Monthly Payment (this loan) |
|_____ Debts |____Monthly Debt Ratio/Residual Income |_____ Credit History |
|_____ Monthly Payment (Simultaneous Loans) |_____ Monthly Payment: Mortgage Related Obligations |
1 Day Prior To Closing: (only if requested by borrower - otherwise the HUD-1 may be provided at closing)
|_______ |1. HUD-1 or HUD-1A | |
Closing:
|_______ |1. Right of Rescission signed |(2 copies to each consumer who has an ownership interest and property is their primary |
| | |residence) |
| | Advance money on ______________ |
|_______ |2. Note signed |(compare to Final TIL for accuracy; Include NMLS Names/IDs) |
|_______ |3. Insurance |(Verify flood zone; adequate coverage; effective date; and mortgagee info) |
|_____ |Hazard insurance | |
|_____ |Flood insurance | |
|_______ |4. Sale of Insurance disclosure |(if an insurance product is sold in connection with the loan) |
|_______ |5. Privacy Disclosure |(if not an existing customer) |
|_______ |6. Final Truth in Lending disclosure |(compare to note) |
| | _____ Demand feature |_____ Filing fees |
| | _____ Loan cannot be assumed |_____ No prepayment penalty |
| | _____ Collateral is described |_____ No refund of Finance Charge |
| | _____ Credit insurance |_____ Amount Financed itemized (N/A if a HUD-1 is provided) |
| | _____ Late charge | |
Final Loan File Review:______________________________________________________
*Cannot include verification documentation.
** HPML escrow rules do not apply to construction loans, bridge loans or other temporary financing with a term of 12 months or less; HELOCs, or reverse mortgages. HPML appraisal requirements do not apply to construction loans, bridge loans with a term of 12 months or less (if in connection with the purchase of a primary dwelling); Qualified Mortgages; streamlined 1st lien refinancings meeting certain conditions; smaller dollar loans; loans secured by manufactured homes (until 7-18-15), mobile homes, boats, or trailers; or reverse mortgages.
PURCHASE/CONSTRUCTION (Adjustable Rate Mortgage/Non-HMDA)
BORROWER: _______________________________________________________________ SSN: _______________________
LOAN OFFICER: _________________________________________ CLOSING DATE: _________________________________
PURPOSE/COMMENTS:______________________________________________________________________________________
At application:
|_______ |1. Application* |Date Received: _________________ (Include NMLS Names/IDs) |
| | |___In person ___ Dropped off ___ Mailed ___ Phone ___ Electronic |
|_______ |2. Government Monitoring Information |(race, sex, ethnicity) (Includes mobile home loans) |
|_______ |3. ARM Program disclosure and |(only if loan is secured by the consumer’s principal dwelling and for a term greater than |
| |CHARM booklet. |one year). |
|_______ |4. CIP information obtained |(name, physical address, SSN, date of birth) |
|_______ |5. Credit insurance application disclosure |(provide orally and in writing at time insurance product solicited/offered) |
|_______ |6. Evidence of Intent to Apply – Reg B |If more than 1 applicant |
Within 3 business days of application:
|_______ |1. Good Faith Estimate** |(may not charge fees (except credit report) until applicant has received) |
|_______ |2. HUD Settlement Booklet | |
|_______ |3. Preliminary TIL Disclosure** |(may not charge fees (except credit report) until applicant has received) |
|_______ |4. Servicing Transfer Disclosure** |(only if 1st lien) |
|_______ |5. Notice to Home Loan Applicant |(or as soon as reasonably practical after the credit report is pulled) |
|_______ |6. Intent to Proceed |(must be after GFE is received by applicant and prior to charging fees) |
|_______ |7. Homeownership Counseling List |(must be obtained within last 30 days and based on applicant’s zip code) |
|_______ |8. Appraisal Disclosure |(1st lien or HPML) |
Prior to closing:
|_______ |1. Flood Hazard Determination Form |In Flood Zone? _____ Yes _____ No |
| |(includes mobile homes) | |
|_______ |2. Flood Notice (if in flood zone) |(Provide a reasonable time prior to closing or no later than commitment) |
|_______ |signed by borrowers | |
|_______ |3. Verify CIP information | |
|_______ |4. If high-cost mortgage, HCM disclosure 3 business days before closing (each borrower/consumer w/ right to rescind) |
|_______ |Written Certification of Counseling Obtained (if High-Cost Mortgage) |
|_______ |5. If Higher-Priced Mortgage Loan*** | |
| |____ Escrow Account (Unless Exempt) |
| |____ Appraisal Requirements (Unless Exempt) |
| | |
|_______ |6. APR Within Tolerance |.125% tolerance for a Regular Transaction |
| | |.250% tolerance for an Irregular Transaction |
|_______ |7. Copy of Appraisal |(1st Lien: Provide promptly and at least 3 business days prior to closing) |
| | |(Other lien HPML: Provide at least 3 business days prior to closing) |
|_______ |8. Ability to Repay |(Using third-party verification) |
|_____ Income or Assets |____Employment Status |_____ Monthly Payment (this loan) |
|_____ Debts |____Monthly Debt Ratio/Residual Income |_____ Credit History |
|_____ Monthly Payment (Simultaneous Loans) |_____ Monthly Payment: Mortgage Related Obligations |
1 Day Prior To Closing: (only if requested by borrower - otherwise the HUD-1 may be provided at closing)
|_______ |1. HUD-1 | |
Closing:
|_______ |1. Right of Rescission signed (Bridge |(2 copies to each consumer who has an ownership interest and property is their primary |
| |Loan only) |residence) |
| | Advance money on ________________ | |
|_______ |2. Note signed |Compare to Final TIL for accuracy (Include NMLS Names/IDs) |
|_______ |3. Insurance |(Verify flood zone; adequate coverage; effective date; and mortgagee info) |
|_____ |Hazard insurance | |
|_____ |Flood insurance | |
|_______ |4. Sale of Insurance disclosure |(if an insurance product is sold in connection with the loan) |
|_______ |5. Privacy Disclosure |(if not an existing customer) |
|_______ |6. Final Truth in Lending disclosure |(compare to note) |
| | _____ Demand feature |_____ Filing fees |
| | _____ Loan cannot be assumed |_____ No prepayment penalty |
| | _____ Collateral is described |_____ No refund of Finance Charge |
| | _____ Credit insurance |_____ Amount Financed itemized (N/A if a HUD-1 is provided) |
| | _____ Late charge |_____ Variable rate information (if applicable) |
|_______ |7. Initial Rate Change Notification |If term greater than one year and first adjusted payment is due w/in 210 days of closing |
| | | |
|After Closing: | |
|_______ |1. Notice of Transfer |(if loan is sold to another institution) |
Final Loan File Review:______________________________________________________
* Cannot include verification documentation.
**If construction/permanent financing: A Servicing Transfer Disclosure, Good Faith Estimate and Preliminary Truth in Lending disclosure, for both the construction phase and the permanent financing, must be provided within 3 business days of the initial application.
*** HPML escrow rules do not apply to construction loans, bridge loans or other temporary financing with a term of 12 months or less; HELOCs, or reverse mortgages. HPML appraisal requirements do not apply to construction loans, bridge loans with a term of 12 months or less (if in connection with the purchase of a primary dwelling); Qualified Mortgages; streamlined 1st lien refinancings meeting certain conditions; smaller dollar loans; loans secured by manufactured homes (until 7-18-15), mobile homes, boats, or trailers; or reverse mortgages. Certain flipped transactions require a second appraisal.
REFINANCE (Adjustable Rate Mortgage/Non-HMDA)
BORROWER: _______________________________________________________________ SSN: _______________________
LOAN OFFICER: ________________________________________________ CLOSING DATE: ___________________________
PURPOSE/COMMENTS:______________________________________________________________________________________
At application:
|_______ |1. Application * |Date Received: ___________________ (Include NMLS Names/IDs) |
|_______ | |__In person ___Dropped off ___Mailed __Phone ___ Electronic |
|_______ |2. Government Monitoring Information |(race, sex,,ethnicity) (Includes mobile home loans) |
|_______ |3. ARM Program disclosure and |(only if loan is secured by the consumer’s principal dwelling and for a term greater than |
| |CHARM booklet. |one year). |
|_______ |4. CIP information obtained |(name, physical address, SSN, date of birth) |
|_______ |5. Credit insurance application disclosure |(provide orally and in writing at time insurance product solicited/offered) |
|_______ |6. Evidence of Intent to Apply – Reg B |If more than 1 applicant |
Within 3 business days of application:
|_______ |1. Good Faith Estimate |(may not charge fees (except credit report) until applicant has received) |
|_______ |2. Preliminary Truth in Lending |(may not charge fees (except credit report) until applicant has received) |
|_______ |3. Servicing Transfer Disclosure |(only if 1st lien) |
|_______ |4. Notice to Home Loan Applicant |(or as soon as reasonably practical after the credit report is pulled) |
|_______ |5. Intent to Proceed |(must be after GFE is received by applicant and prior to charging fees) |
|_______ |6. Homeownership Counseling List |(must be obtained within last 30 days & based on applicant’s zip code) |
|_______ |7. Appraisal Disclosure |(1st lien or HPML) |
Prior to closing:
|_______ |1. Flood Hazard Determination Form |In Flood Zone? _____ Yes _____ No |
| |(includes mobile home loans) | |
|_______ |2. Flood Notice (if in flood zone) |(Provide a reasonable time prior to closing or no later than commitment) |
| |signed by borrowers | |
|_______ |3. Verify CIP information | |
|_______ |4. If high-cost mortgage, HCM disclosure 3 business days prior to closing (each borrower/consumer w/ right to rescind |
|_______ |Written Certification of Counseling Obtained (if High-Cost Mortgage) |
|_______ |5. If Higher-Priced Mortgage Loan** | |
| |____ Escrow Account (Unless Exempt) |
| |____ Appraisal Requirements (Unless Exempt) |
| | |
|_______ |6. APR Within Tolerance |.125% tolerance for a Regular Transaction |
| | |.250% tolerance for an Irregular Transaction |
|_______ |7. Copy of Appraisal |(1st Lien: Provide promptly and at least 3 business days prior to closing) |
| | |(Other Lien HPML: Provide at least 3 business days prior to closing) |
|_______ |8. Ability to Repay |(Using third-party verification) |
| |_____ Income or Assets |
| |____ Employment Status |
| |_____ Monthly Payment (this loan) |
| | |
| |_____ Debts |
| |_____ Monthly Debt Ratio/Residual Income |
| |_____ Credit History |
| | |
| |_____ Monthly Payment (Simultaneous Loans) |
| |_____ Monthly Payment: Mortgage Related Obligations |
| | |
| | |
| | |
1 Day Prior To Closing: (only if requested by borrower - otherwise the HUD-1 may be provided at closing)
|_______ |1. HUD-1 or HUD-1A | |
Closing:
|_______ |1. Right of Rescission signed |(2 copies to each consumer who has an ownership interest and property is their primary |
| | |residence) |
| | Advance money on ______________ | |
|_______ |2. Note signed |(Compare to Final TIL for accuracy; Include NMLS Names/IDs) |
|_______ |3. Insurance |(Verify flood zone; adequate coverage; effective date; and mortgagee info) |
|_____ |Hazard insurance | |
|_____ |Flood insurance | |
|_______ |4. Sale of Insurance disclosure |(if an insurance product is sold in connection with the loan) |
|_______ |5. Privacy Disclosure |(if not an existing customer) |
|_______ |6. Final Truth in Lending disclosure |(compare to note) |
| | _____ Demand feature |_____ Filing fees |
| | _____ Loan cannot be assumed |_____ No prepayment penalty |
| | _____ Collateral is described |_____ No refund of Finance Charge |
| | _____ Credit insurance |_____ Amount Financed itemized (N/A if a HUD-1 is provided) |
| | _____ Late charge |_____ Variable rate information (if applicable) |
|_______ |7. Initial Rate Change Notification |If term greater than one year, secured by principal dwelling, and first adjusted payment is |
| | |due within 210 days of closing |
After Closing:
|_______ |1. Notice of Transfer |(if loan is sold to another institution) |
Final Loan File Review:______________________________________________________
*Cannot include verification documentation.
**HPML escrow rules do not apply to construction loans, bridge loans or other temporary financing with a term of 12 months or less; HELOCs, or reverse mortgages. HPML appraisal requirements do not apply to construction loans, bridge loans with a term of 12 months or less (if in connection with the purchase of a primary dwelling); Qualified Mortgages; streamlined 1st lien refinancings meeting certain conditions; smaller dollar loans; loans secured by manufactured homes (until 7-18-15), mobile homes, boats, or trailers; or reverse mortgages.
HOME IMPROVEMENT/HOME EQUITY (Adjustable Rate Mortgage/Non-HMDA)
BORROWER: _______________________________________________________________ SSN: _______________________
LOAN OFFICER: ________________________________________________ CLOSING DATE: ___________________________
PURPOSE/COMMENTS:______________________________________________________________________________________
At application:
|_______ |1. Application * |Date Received: _____________________ (Include NMLS Name/ID) |
| | |__In person ___Dropped off ___Mailed __Phone ___ Electronic |
| |⇒ Do Not Collect Government Monitoring Information |
|_______ |2. ARM Program disclosure and |(only if loan is secured by the consumer’s principal dwelling and for a term greater than |
| |CHARM booklet. |one year). |
|_______ |3. CIP information obtained |(name, physical address, SSN, date of birth) |
|_______ |4. Credit insurance application |(provide orally and in writing at time insurance product solicited/offered) |
| |Disclosure | |
|_______ |5. Evidence of Intent to Apply – Reg B |If more than 1 applicant |
Within 3 business days of application:
|_______ |1. Good Faith Estimate |(may not charge fees (except credit report) until applicant has received) |
|_______ |2. Preliminary Truth in Lending |(may not charge fees (except credit report) until applicant has received) |
|_______ |3. Servicing Transfer Disclosure |(only if 1st lien) |
|_______ |4. Notice to Home Loan Applicant |(or as soon as reasonably practical after the credit report is pulled) |
|_______ |5. Intent to Proceed |(must be after the GFE is received by applicant and prior to charging fees) |
|_______ |6. Homeownership Counseling List |(must be obtained within last 30 days and based on applicant’s zip code) |
|_______ |7. Appraisal Disclosure |(1st lien or HPML) |
Prior to closing:
|_______ |1. Flood Hazard Determination Form |In Flood Zone? _____ Yes _____ No |
| |(includes mobile homes) | |
|_______ |2. Flood Notice (if in flood zone) |(Provide a reasonable time prior to closing or no later than commitment) |
|_______ |signed by borrowers | |
|_______ |3. Verify CIP Information | |
|_______ |4. If high-cost mortgage, HCM disclosure 3 business days prior to closing (each borrower/consumer w/ right to rescind) |
|_______ |Written Certification of Counseling Obtained (If high-cost mortgage) |
|_______ |5. If Higher-Priced Mortgage Loan** | |
| |____ Escrow Account (Unless Exempt) |
| |____ Appraisal Requirements (Unless Exempt) |
| | |
|_______ |6. APR Within Tolerance |.125% tolerance for a Regular Transaction |
| | |.250% tolerance for an Irregular Transaction |
|_______ |7. Copy of Appraisal |(1st lien: Provide promptly and at least 3 business days prior to closing) |
| | |(Other lien HPML: Provide at least 3 business days prior to closing) |
|_______ |8. Ability to Repay |(Using third-party verification) |
| |_____ Income or Assets |
| |_____ Employment Status |
| |_____ Monthly Payment (this loan) |
| | |
| |_____ Debts |
| |_____ Monthly Debt Ratio/Residual Income |
| |_____ Credit History |
| | |
| |_____ Monthly Payment (Simultaneous Loans) |
| |_____ Monthly Payment: Mortgage Related Obligations |
| | |
| | |
| | |
1 Day Prior To Closing: (only if requested by borrower - otherwise the HUD-1 may be provided at closing)
|_______ |1. HUD-1 or HUD-1A | |
Closing:
|_______ |1. Right of Rescission signed |(2 copies to each consumer who has an ownership interest and property is their primary |
| | |residence) |
| | Advance money on ______________ | |
|_______ |2. Note signed |Compare to Final TIL for accuracy; Include NMLS Names/IDs) |
|_______ |3. Insurance |(Verify flood zone; adequate coverage; effective date; and mortgagee info) |
|_____ |Hazard insurance | |
|_____ |Flood insurance | |
|_______ |4. Sale of Insurance disclosure |(if an insurance product is sold in connection with the loan) |
|_______ |5. Privacy Disclosure |(if not an existing customer) |
|_______ |6. Final Truth in Lending disclosure |(compare to note) |
| | _____ Demand feature |_____ Filing fees |
| | _____ Loan cannot be assumed |_____ No prepayment penalty |
| | _____ Collateral is described |_____ No refund of Finance Charge |
| | _____ Credit insurance |_____ Amount Financed itemized (N/A if a HUD-1 is provided) |
| | _____ Late charge |_____ Variable rate information (if applicable) |
|_______ |7. Initial Rate Change Notification |If term greater than one year, secured by principal dwelling, and first adjusted payment is |
| | |due within 210 days of closing |
Final Loan File Review:______________________________________________________
*Cannot include verification documentation.
**HPML escrow rules do not apply to construction loans, bridge loans or other temporary financing with a term of 12 months or less; HELOCs, or reverse mortgages. HPML appraisal requirements do not apply to construction loans, bridge loans with a term of 12 months or less (if in connection with the purchase of a primary dwelling); Qualified Mortgages; streamlined 1st lien refinancings meeting certain conditions; smaller dollar loans; loans secured by manufactured homes (until 7-18-15), mobile homes, boats, or trailers; or reverse mortgages.
HOME EQUITY LINE OF CREDIT (Non-HMDA)
BORROWER: _______________________________________________________________ SSN: _______________________
LOAN OFFICER: ________________________________________________ CLOSING DATE: ___________________________
PURPOSE/COMMENTS:______________________________________________________________________________________
At application:
|_______ |1. Application |Date Received: _________________________________ |
| | |___ In person ___ Dropped off ___ Mailed ___ Phone ___ Electronic |
| |⇒ Do Not Collect Government Monitoring Information (unless to purchase & secured by primary residence) |
|_______ |2. Home Equity Line of Credit program/application disclosure |
|_______ |3. Home Equity Line of Credit Booklet |“When Your Home is on the Line” or “What You Should Know About Home Equity Lines of Credit” |
|_______ |4. CIP information obtained |(name, physical address, SSN, date of birth) |
|_______ |5. Appraisal Disclosure |If a first lien, provide no later than 3 business days after application |
|_______ |6. Credit insurance application |(provide orally and in writing at time insurance product solicited/offered) |
| |Disclosure | |
|_______ |7. Evidence of Intent to Apply – Reg B |If more than 1 applicant |
|_______ |8. Notice to Home Loan Applicant |(as soon as reasonably practical after the credit report is pulled) |
|_______ |9. Homeownership Counseling List |Provide no later than 3 business days after application (must be obtained within last 30 |
| | |days and based on applicant’s zip code) |
Prior to closing:
|_______ |1. Flood Hazard Determination Form |In Flood Zone? _____ Yes _____ No |
| |(includes mobile homes) | |
|_______ |2. Flood Notice (if in flood zone) |(Provide a reasonable time prior to closing or no later than commitment) |
|_______ |signed by borrowers | |
|_______ |3. Verify CIP information | |
|_______ |4. Copy of Appraisal |(If 1st lien: Provide promptly and at least 3 business days prior to closing) |
|_______ |5. If high-cost mortgage, HCM disclosure 3 business days prior to closing (each borrower/consumer w/ right to rescind) |
|_______ |Written Certification of Counseling Obtained (If high-cost mortgage) |
|_______ |If High-Cost Mortgage: Ability to Repay using third-party verification: |
| |_____ Income or Assets |
| |_____ Employment |
| | |
| |_____ Current Obligations |
| |_____ Mortgage-Related Obligations |
| | |
Closing:
|_______ |1. Right of Rescission signed (also |(2 copies to each consumer who has an ownership interest and property is their primary |
| |required on purchase money loans) |residence) |
| | Advance money on ____________ | |
|_______ |2. Note signed |(Must match terms of Program disclosure) |
|_______ |3. Insurance |(Verify flood zone; adequate coverage; effective date; and mortgagee info) |
|_____ |Hazard insurance | |
|_____ |Flood insurance | |
|_______ |4. Privacy Disclosure |(if not an existing customer) |
Final Loan File Review:______________________________________________________
AGRICULTURAL/COMMERCIAL REAL ESTATE LOAN (Non-HMDA)
BORROWER: _______________________________________________________________ SSN: _______________________
LOAN OFFICER: ________________________________________________ CLOSING DATE: ___________________________
PURPOSE/COMMENTS:______________________________________________________________________________________
At application:
|_______ |1. Application |Date Received: __________________________________ |
| |⇒ Do Not Collect Government Monitoring Information |
|_______ |2. CIP information obtained |(name, physical address, SSN or EIN, date of birth-if applicable) |
|_______ |3. Evidence of Intent to Apply – Reg B |If more than 1 applicant |
|Within 3 business days of application: | |
|_______ |1. Appraisal Disclosure |If secured by 1st lien on a dwelling |
Prior to closing:
|_______ |1. Flood Hazard Determination Form |In Flood Zone? _____ Yes _____ No |
|_______ |2. Flood Notice (if in flood zone) |(Provide a reasonable time prior to closing or no later than commitment) |
|_______ |signed by borrowers | |
|_______ |3. Verify CIP information | |
|_______ |4. Copy of Appraisal |(If secured by 1st lien on dwelling – Provide promptly and at least 3 business days prior to|
| | |closing) |
Closing:
|_______ |1. Note signed | |
|_______ |2. Insurance |(Verify flood zone; adequate coverage; effective date; and mortgagee info) |
|_____ |Hazard insurance | |
|_____ |Flood insurance | |
Final Loan File Review:______________________________________________________
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