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.
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 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
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
On Q sent to borrower
VOR/Cancelled Rent Checks
Borrower Identification (Driver’s License, Social Security Card)
Borrower’s Tax Returns
HOA Dues Letter
Condo Questionnaire (if fee-paid, Client to provide)
Title ordered and conditions
On Q from the borrower
Engineer Cert and or Elevation Cert
On Q Ordered
Short Sale Approval Letter
New Construction Docs, Builder Plans & Specs, Builders Warranty, CO,
33B, 10 year H.O.W