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