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CHECKLIST FOR REQUIRED DOCUMENTS
We are independent contractor processors and wanted to ensure we submit a complete file to the investors, we require all documents below to be submitted as applicable.
MISMO 3.4 FILE
1003/LOAN APPLICATION (print to pdf)
A copy of the 1003 is required in addition to the Mismo 3.4 file
SIGNED BORROWER CERTIFICATION & AUTHORIZATION
Form should reflect brokerage's name
AUS FINDINGS
Must be approve/eligible or accept/eligible (or explanation why ineligible)
CREDIT CARD AUTHORIZATION FORM
Signed authorization form with borrower or LO credit card information to order services required by UW (appraisal, condo docs, VOEs, etc.)
MI QUOTE, if applicable
LENDER SPECIFIC SUBMISSION REQUIREMENTS
Include any lender specific forms or documentation required for initial submission to UW
CREDIT DOCUMENTATION:
Credit Report
Credit Report Invoice
Credit authorization
Borrower authorization to pull credit
Copy of valid ID
Valid, unexpired identification - driver's license, passport, military ID, etc.
Invoice for each report pulled
Invoice for each report pulled
PURCHASE AGREEMENT
Fully executed purchase agreement, including all addendums, amendments & seller's disclosures (as applicable) and MLS listing
INCOME DOCUMENTATION
Income Worksheet
Income worksheet used to calculate qualifying income
Income Documentation
REGULAR INCOME - Most recent paystubs covering the last 30 days, 2 yrs W-2s, 2 years tax returns, relocation letter/contract (if applicable)
SELF-EMPLOYED -As applicable, most recent 2 yrs: personal tax returns, business tax returns (if 25%+ ownership), K1s, 1099s, W2s; business license; Year-To-Date Profit & Loss statement; proof taxes paid
RENTAL - 2 yrs tax returns and lease agreement
SOCIAL SECURITY / PENSION - SS award letter and/or Pension letter of continuance; most recent 3 months bank statements proving receipt of income (all pages, including those intentionally left blank)
RETIREMENT / INVESTMENT - Most recent 2 months or quarterly statement; 3 months bank statements confirming receipt
CHILD SUPPORT - Most recent 3 months bank statements confirming receipt; divorce decree; proof of 3 yr continuance
Income worksheet used to calculate qualifying income
LIABILITY DOCUMENTATION
Bankruptcy/Foreclosure/Short sale papers, Divorce Decree, New Loan Agreement (if liability is not reflected on the Credit Report)
Bankruptcy/Foreclosure/Short sale papers, Divorce Decree, New Loan Agreement (if liability is not reflected on the Credit Report)
REO DOCUMENTATION
For all properties retained: most recent mortgage statement, insurance declaration page, HOA statement, HELOC agreement or Note (for any liens being subordinated);
For any properties recently sold: final seller settlement statement
Last 2 months (all pages, including those intentionally left blank). 3 months are required if using business assets statements. Terms of withdrawal also required if it is not a liquid account.
ASSET STATEMENTS
VA DOCUMENTATION
Borrower's Certificate of Eligibility (COE) and Condo Approval (if applicable)
FHA DOCUMENTATION
Condo Approval (if applicable)
USDA DOCUMENTATION
Most recent paystubs covering the last 30 days (for ALL occupants of the home with a job)