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    Solutions Centered On You

    Discover how we help our third-party origination (TPO) partners grow. Select the line of business we can support for you below:

    Wholesale
    Lending     Non-Delegated
    Lending     Delegated
    Lending

    On Q Processing (On Q P)

    On Q Processing is an enhancement to your typical lender experience. With this feature selected, our On Q team will process, underwrite, close and fund the transaction. The Processor will keep close contact with borrowers and all 3rd parties to obtain all documentation needed to close the transaction quickly and seamlessly. We just need a few items from the broker for us to get started.

    Broker Scope:

    • Originate the loan.
    • Send your company’s initial disclosures including the Loan Estimate (LE) to the Borrower or request On Q send via registration/submit on the portal. All transactions must have the loan submission form.
    • Request case number via the loan submission form (if Applicable).
    • Register your loan in Loan Center.
    • Upload all initial documents via Loan Center.
    • Submit lock request via Loan Center and discuss lock terms with borrower.
    • Review the final CD with borrower.
    • Order subordinations.
    • Order all 3rd party inspections such as: termite, engineer, septic, water test.
    • Request VA Appraisal and Complete payment.

    On Q P scope:

    • Send out all lender disclosures including the CD.
    • Place an appraisal order with the assigned AMC. Note- the appraisal order will be on hold when the order is initially placed until payment is made.
    • Order the case number and perform all FHA Connection, VA and GUS functions.
    • Order credit if requested.
    • Run the AUS as required per the loan program applied for.
    • Underwrite the loan to all applicable guidelines. An approval letter or letter of adverse action will be sent to you and the Borrower.
    • A Processor will be assigned to your account to collect all underwriting conditions.
    • The assigned Processor will order all of the Title Conditions through the designated Title company or Attorney. Broker to identify the Title company on the LSF (Loan Submission Form),
    • Processor will work directly with all 3rd party companies including the home owner’s insurance company, appraisal company, attorney, etc.
    • Once the loan is cleared for closing, we will provide the closing documents and send them to the approved closing agent.
    • Once the loan is disclosed and uploaded into our system for underwriting On Q will provide all reporting information to HMDA.
    Responsibility by Document/Requirement
    Document/Task
    Responsibility
    Client Fee Agreement
    Broker to Borrower
    Lock terms and questions regarding lock, LE and CD
    Broker discuss with Borrower
    Initial Loan Estimate (LE)
    ***Dependent on Initial Request
    Loan Estimate (re-disclosed based on COC prior to conditional approval)
    On Q to borrower
    Initial Closing Disclosure
    On Q to borrower/cc broker
    Appraisal Order, Appraisal Revisions and Final Inspection (Please note VA appraisal orders are under the brokers scope)
    On Q – dependent on Intent to Proceed and request on Loan Submission Form
    AUS- DU, LP, GUS, VA, TOTAL, etc.
    On Q sent to broker
    Appraisal Acknowledgment
    On Q sent to borrower

    Borrower Conditions:

    • Paystubs
    • Bank Statements
    • Gift Documentation
    • VOR/Cancelled Rent Checks
    • Written VOE
    • Verbal VOE
    • Borrower Identification (Driver’s License, Social Security Card)
    • Borrower’s Tax Returns
    • Tax Transcripts
    • Divorce Decree
    • HOA Dues Letter
    • Condo Questionnaire (if fee-paid, Client to provide)
    • Flood Cert
    • LDP/GSA searches
    • Payoff
    • Title ordered and conditions
    • HOI
    On Q from the borrower
    Subordination Agreement
    Broker Requested
    Engineer Cert and or Elevation Cert
    Broker Ordered
    IBTS.org Cert
    On Q Ordered
    Termite/Pest Inspection
    Broker Ordered
    Short Sale Approval Letter
    Broker Ordered
    New Construction Docs, Builder Plans & Specs, Builders Warranty, CO, 33B, 10 year H.O.W
    Broker Requested
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    FHA 2355600004VA9102010000