Document Submission and PTD Requirement

Effective: March 4, 2020 – Soft release
Effective: April 1, 2020 – Required, no exceptions
To better serve our broker community and to expedite loan documents and funding in the most efficient way, the following will be REQUIRED – at SUBMISSION.
• As of March 4 we will require the following items at submission on every file:
  • Title
    • On a PURCHASE transaction and case by case we will allow the file to be submitted with the preliminary title report trailing.
  • Escrow instructions with vesting or a vesting amendment (Grant Deed/Inter spousal Deed)
  • Purchase Contract
• The following will be required prior to docs (PTD).
  • Property Address/Property Type on Preliminary title report, Appraisal and LQB must match
  • Hazard Insurance (please see checklist) Loss Payee Required
  • HOA Docs – Missing Project Name on PIW files and Verify HOA Fee amount
  • Closing Settlement Statement – Must show correct loan amount
  • Payoff Demands
• This will fully go into practice on April 1st, 2020