GOKULNATH R

Pre-Purchase Review - Mortgage Process

• Verify all documents related to the subject property to ensure accuracy and compliance.
• Ensure the Original Note is properly executed and included in the documentation.
• Validate the Automated Underwriting System (AUS) findings, including Desktop Underwriter (DU), Loan Prospector (LP) reports, Closing Disclosure (CD), and Loan Estimate (LE) for accuracy and compliance. Compare the Closing Disclosure (CD) with the Loan Estimate (LE) to identify any differences, if the differences fall within allowable tolerance levels, and any changes in circumstances that require action.
• Suspend processing, or initiate corrective actions if discrepancies are identified and do not meet regulatory requirements.
• Collect relevant documents from borrowers as needed to complete the review. Ensure all required disclosures, such as the service provider and affiliate business disclosures, are properly provided and acknowledged.
• Accurately analyze 4C's credit, calculate income, and evaluate assets, liabilities, and collateral per agency and investor guidelines and also calculate DTI,LTV & CLTV.
• Review loan submissions for completeness and compliance, including 1003, credit report, income, and asset documentation, purchase agreement, and title report.