Realty Plus Mortgage
Realty Plus Mortage Agent

Step 3-Disclosures (Example)

At your request in Step 2, our processor then prints the loan application and all disclosures, which are mailed or e-mailed to your borrowers and/or the mortgage broker for signatures.  This Step 3 E-Mail Notification sent to you WITHIN 48 HOURS will request specific financial items of the borrower’s such as bank statements, W-2’s, pay stubs, etc, as needed per program guidelines.  These items can be scanned and attached on an email, faxed or mailed back to us.  Once all these items are submitted to us, the processor follows up on title, the ordered appraisal, the insurance declaration page and all conditions are packaged for underwriting (Final Approval and Closing).

Attached in your Step 3 E-mail Notification is the LOCK CONFIRMATION-open, print and review rate, terms, pricing and expiration date for accuracy (per your Step 1-Fee Income request).

Attached in your Step 3 E-mail Notification is the UNSIGNED loan application and disclosure documents-open and print (per your Step 2-Loan Option request).

Certain documents enclosed will be forwarded to the Loan Originator for their signature, if they have not yet been signed.  Please take special care at reviewing the loan application, Truth-in-Lending and Good Faith estimate for accuracy.

Your clients' loan will be submitted for underwriting, upon return of these properly dated and signed documents (original signatures are not required).  Based on the program guidelines your client(s) are qualifying under, please submit the additional borrower's personal documents requested on our Step 3 E-Mail Notification to our office along with the dated and signed loan application and bank disclosures above:

Borrower's Name:
Loan Officer Name:
Processor Name:

We are anticipating a conditional approval from our underwriter after this initial review, a request for a few additional documents, to complete their FINAL underwriting process.

IMPORTANT:  Order appraisal now and has the property passed inspection?  Click on this web site FRONTLINE REAL ESTATE SERVICES and complete form. Their phone number is 303-400-4505 fax 303-400-4511.  Please fax the purchase contract to the appraiser ASAP. Prior E-Mail Notification disclosed required appraisal type.
We are working towards getting your FINAL APPROVAL TO CLOSE, we show the closing date to be:
CLOSING DATE

We are aware of the loan conditions deadline date.  If we are incurring problems getting a loan approval, we will notify you before the following date passes: 

LOAN CONDITIONS DEADLINE DATE
Can the processor from REALTY PLUS MORTGAGE contact this client for loan related issues?
Has the appraisal been ordered?
You have completed STEP 3. STEP 1,2,3 are complete and the final communication to you is forthcoming.(CLEAR TO CLOSE, CONDITIONAL APPROVAL, SUSPENDED or DENIAL) with further instructions.  Expect your next communication from us within 72 hours of our help desk receipt of all of the above documents.  Thanks
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Step 3 1/2-Condition of Loan (Example)

Yes, sometimes we need an intermediate step. This happens when a loan is submitted without all necessary documentation to complete the underwriting process or the underwriter has found something that needs further clarification.  Step 3 1/2 E-Mail Notification will give the current status of your file as either conditional approval, suspended or denied.  Conditional approval is typically very easy to correct.  A suspended loan is lacking a key component before an underwriter can make a final determination.  A denial is a challenge, at which point we will attempt to prove that the underwriter's decision is incorrect.  Or we may need to restructure the loan into a more flexible program or sub prime paper for your approval and future closing.  Our Step 3 1/2 E-Mail Notification will explain the best means of correcting this files condition and moving it towards a cleared to close ending.  The less steps we have to perform, the better for our mortgager brokers, your clients and us.  We stand behind our goal, STEP 1,2,3 and Close.

Conditional Approval, Suspend Notice or Denial

Your Client’s Loan has been underwritten, our office has received the following response on this file:

Borrower's Name:
Loan Officer Name:
Processor Name:

Attached in E-Mail Notification 3 1/2 is the conditional approval, Suspend, or Denial from the underwriter.

If you received a CONDITIONAL APPROVAL, further requirements are needed by you or the Client.  Please read these requirements below and forward them to our office ASAP in order to clear and close this loan.  This is very good indication that your loan is proceeding to a FINAL APPROVAL-Clear to Close.

If you received a SUSPEND NOTICE, we are deficient on very important documents and the Underwriter can not determine if you can be approved until the information below is forwarded for their review.  Provide this information at your earliest convenience.

If your Client received a DENIAL from our Underwriter, we have explained the reason for this denial below and have attempted another way of structuring this loan so we can possibly get an approval based on a different program structure, different bank or using different banking guidelines.
THESE RESULTS HAVE BEEN FORWARDED TO LOAN OFFICER OF RECORD.
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