THE LOAN PROCESS
  1. We take a thorough and complete loan application from all of the borrowers
  2. We collect documentation from borrowers to verify income, cash to close and identity 
  3. We pull and review the borrowers' credit reports
  4. We properly classify the loan based on annual percentage rate (APR) to High-Cost Loan (HCL) or Higher-Priced Mortgage (HPML) and confirm requirements for classification are met
  5. We provide all initial federal and state mandated disclosures as well as documentation that they were delivered within required time frames
  6. We create and present an underwriting summary to the seller
  7. Seller approves or denies loan
  8. We confirm late charge clause in Note complies with HCL/HPML requirement
  9. We oversee the preparation of and we review the TRID closing disclosure and insure proper delivery timing with documentation
  10. We prepare closing disclosures including calculation of final APR and initial escrow account deposits. We also provide the Initial Escrow Account disclosure for closing.
  11. We collect and organize all loan documents including initial and final disclosures, underwriting documents, verification documents, and closing documents. Seller receives copy of completed loan binder
  12. We complete and submit loan servicer package (approved servicers only)
  13. We file all Mortgage Call Reports through National Mortgage Licencing System (NMLS)
  14. We manage audit of file by Texas Department of Savings and Mortgage Lending (TDSML)