Prior to Closing (PTC) Conditions are underwriting conditions that must be fulfilled before the loan progresses to the closing milestone. Underwriting conditions are the requirements set by an underwriting that a borrower must meet in order to qualify for a mortgage loan. These conditions may vary depending on the type of loan, the borrower’s financial situation, and the current market conditions.
You can look at the conditions on a file through Encompass. When you enter a file, go to the eFolder in the upper right corner of the loan workspace.
When the eFolder opens, it will open up in the Documents tab. You can view the conditions by clicking on the Underwriting Conditions tab.
Conditions are shown on a table.
The conditions table standard view lists the following columns:
Documents: If the condition has any supporting documents attached, you will see the document icon.
Condition’s name.
Condition’s description.
Source of the condition: Conditions can be input manually or be added from a condition set.
Internal and external columns.
The condition’s owner: The owner is whomever is in charge of fulfilling that condition.
Category.
Prior To: The milestone by which the condition must be cleared. If a condition is not cleared, the file cannot progress to that milestone. The most common fields in the Prior To column are Approval, Closing, Docs, and Funding. Those conditions are called Prior to Approval (PTA) conditions, Prior to Closing (PTC) conditions, Prior to Docs (PTD) conditions, and Prior to Funding (PTF) conditions, respectively.
Condition status.
Condition date.
You can double-click on a condition to open the condition and see the documents attached to it.
In the eFolder Conditions View, you can filter most columns by using the search boxes on each header.
By typing “CL” on the Owner search box, you can filter only the conditions that are owned by the closer.
Some column headers have a dropdown list instead of a search box. By clicking on the dropdown list and selecting an option, you can filter only items in that category. For example, by clicking the Prior To dropdown and selecting Closing, you can filter only Prior to Closing Conditions.
