The following are the roles of both the Loan Originator and the Processor per Triad Mortgage Services Agreement
LO
Obtain borrower
Determine program and lender for borrowers based on the loan application and credit report
Lock loan, extend lock as needed
Request supporting documents and disclosures from the borrower
Send Calyx Point or Fannie Mae 3.2 file to
nicole@myprocessing.net
Send all supporting documents to
nicole@myprocessing.net or fax to our secure e-fax at 303-302-6916
Review fee sheet completed by the processor prior to closing
Review and approve the HUD with the processor prior to closing
Processor
Review file for qualification within 24 hours of receipt
Send welcome e-mail to the borrowers upon receipt and review of the file. Request any necessary additional documents and acquire payment information for the appraisal
Order all necessary documents such as Title, Payoff, Insurance and appraisal as well as verifications required by the lender
Submit file to the lender and perform appropriate automated systems (DO, LP etc)
Obtain all loan approval conditions from borrower
Track the loan to clear to close
Review the HUD with the LO prior to closing
Track the loan to funding and receipt of the Broker's funds to the Broker
