Realty Plus Mortgage - Step 2-Example

Approach

Learn the Approach
- Step 1-The Interview
- Step 2-Loan Options
- Step 3-Disclosures
- Close-Sign Doc's
Process
Glossary
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Meet Management
Consumer Benefits
FAQ

Step 2-Loan Options (Example)

The 4 page loan application and Step 1 template sent by you is then answered by us via Step 2 E-Mail Notification WITHIN 24 HOURS. At this point you proceed to Step 2 on our web site link Affiliated Brokers, where this designed template simplifies the Step 2 process. You will discuss with your borrower(s) which loan (OPTION 1, 2 or 3) they prefer for their First Mortgage and or Second Mortgage. Once you answer our Step 2 E-Mail Notification, you submit these answers back to us through our secure web site.

Management has reviewed and merged the borrowers' loan application and credit report, your PRE-QUALIFICATION LETTER IS ATTACHED-With Step 2 E-mail Notification. RUSH PRE-QUALIFICATION LETTERS can be requested in Step 1.

IMPORTANT: The appraisal must be ordered by the originator. Inspection deadline date should come before the appraisal deadline date. The type of appraisal to order is disclosed in your Step 2 E-Mail Notification.

Appraisal Companies: or any approved appraiser of your choosing.
Frontline Real Estate Services website to order the appraisal. Please fax the purchase contract to the appraiser ASAP. The appraisal is a hard cost regardless of loan closing. Collecting a deposit of $150 upfront from your client is recommended. A future Step 3 E-Mail Notification will allow you to order the appraisal at a later date.

Borrower's Name:

Loan Officer's Name:

Please Respond to all questions
* required answer

* Which Option do you prefer for this First Mortgage Loan?

* Do you want to Lock your First Mortgage Rate (Per E-mail Notification)?

Days needed for lock?

*RATES ARE SUBJECT TO CHANGE DUE TO MARKET VOLATILITY
If this emailed rate can not be locked, we will contact you

* The Lock must allow 6 additional business days after CLOSING DATE for the closing docs to reach our lender to avoid lock expiration. If no lock is requested, rate will float until the LO e-mail's us a lock request, then we will update rates at that time and email these rates for an approval.

Realty Plus Mortgage will provide either a 2nd mortgage in the case it is needed or Mortgage Insurance as an alternative.

These Options are for a 2nd Mortgage we recommend from information provided:

*Which Option do you prefer for this Second Mortgage Loan?

*Do you want to Lock your Second Mortgage Rate (Per E-mail Notification)?

Days needed for lock?

*Do you have a Loan Conditions Deadline Date?

If yes, what is the Conditions Deadline Date?

(mm/dd/yyyy)

* Do you have a Closing Date?

If yes, what is the closing date?

(mm/dd/yyyy)

Could the closing date be extended?

Title Companies: please order borrower's title or use any company, if refinancing.
TIP: RESPA states the buyer has the right to choose their title company.
United Title Co. website to order title-Colorado based serving nationally

Who is the Title Company?

Closer's Name and phone number

How does the client want to receive their loan package for review and signing?	Send to HOME	Send to BUSINESS
A. Fax to Client # on Application
B. Fax to Mortgage Broker on our Records
C. EMAIL Client-provided on loan application (need printer)
D. EMAIL Mortgage Broker on our records
E. Rush-FedEx to Client address-overnight delivery-$25 charge added at closing ($12.50 both ways)
F. Rush-FedEx to Mortgage Broker's address-overnight delivery-$25 ($12.50 both ways)
G. Regular Mail to Client-no charge
H. Regular Mail to Mortgage Broker-no charge

REQUIRED DOCUMENTS such as BANK STATEMENTS,HAZARD INSURANCE, EARNEST DEPOSIT, HOA, W-2's WILL BE REQUESTED BY US ON THE STEP 3 E-MAIL NOTIFICATION.

Comments

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