 Taking the application, choosing the program, lender and locking the rate.
You,
the Originator, selects the appraiser, title/closing
agent & insurance agency if applicable.
You,
the Originator, e-mails the Point/Calyx file to Inuva
Loan Processing.
You,
the Originator faxes a Loan Submission Request to Inuva
Loan Processing.
Send
us the original file for the submission purposes - Overnight,
regular mail, etc
Inuva Loan Processing does the rest!!!!
Upon
receipt of your loan package we will input the application
into our computer to verify the ratios, income, etc,
and notify you of any deficiencies.
We
will also review the file for compliance issues and/or
missing documentation.
We
will order the title work, appraisal, payoff, insurance,
and survey if applicable,
We
will also order all VOE's, VOD's, VOM's, VOR's and documentation
required by third parties.
We
work with all parties involved to collect all needed
items. Once all items are received, the file will be
submitted to the lender/investor
or disposed of in a manner of your choice.
We
will keep you up to date as the loan progressed through
underwriting.
If
any info, such as low appraisal, additional debt, etc.
is received during the collection of documentation which
causes the file to become a Credit Denial,
you will be notified. And if possible, the file will
be reworked and counter offer will be made.
Once
we receive an approval from the lender, we will fax a
copy to the Loan Officer and work with all applicable
parties to clear all conditions.
We
will obtain closing protection letter, wiring instructions,
and change the loss payee clause on the approved file.
We
will coordinate and schedule closings (with your permission).
We
will prepare the document order form and fee sheet and
will fax it to the Loan Officer for approval. Once approved,
we will fax it to the lender.
We
request that a copy of he preliminary HUD be faxed to
us prior to closing for verification of figures.
We
will follow the file to closing and through funding to
make sure that everyone gets paid.
The
loan package is returned to the originator's office after
funding.
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