Requesting Condo Desk Review

GENERAL CONDODESK REVIEW PROCESS:

Step One: *Lender Processing submits a completed WorkOrder to [e-mail]

Step Two: *TheCondoDesk verifies the Review-Type required & provides the Processing Team with an Initial-Conditions-Set

Step Three: *Lender Processing acquires requested documentation for upload to Encompass & forwarding to TheCondoDesk.

Step Four: *TheCondoDesk provides updated or revised “Condition-Sets” as documents are received and reviewed.

Step Five: *TheCondoDesk provides completed Opinion of Eligibility Certification to Processing Team for upload & Fwd to UW

*PLEASE EMAIL ALL DOCUMENTS TO: [e-mail]

*Please note: TheCondoDesk does-not have access to Encompass

*Please note: Orders for Condominium Project Reviews should be placed at the start of the loan files processing stage or earlier.

VERY IMPORTANT!

*PLEASE SUBJECT-LINE ALL EMAILS: [PROJECT NAME LN# BORROWERLASTNAME]

*This format for the Subject-Line of all correspondence is used so that TheCondoDesk, the Branches and PMG Management can easily track all correspondence related to a specific loan files project review.

REGARDING PIECEMEAL:

*Unlike standard underwriting, TheCondoDesk is dependent upon the immediate receipt of all incoming condo-related documents.

*The Processing Team should forward all received condominium documents to TheCondoDesk “as-they-arrive”.

*In short, TheCondoDesk loves piecemeal!

REGARDING THE INITIAL CONDITION SET:

*A sample of a generic Initial-Condition-Set emailed by TheCondoDesk to the Processing team will appear as-such:

TheCondoDesk, LLC CONDITIONS 01/01/22:

• HOA to complete Full-Review Condominium Questionnaire. [Current PMG Version Published on the Cafe]

• HOA to provide Condominium Governing Documents {CC&R’s, By-Laws & Articles of Incorporation}

• HOA to provide current Budget & Balance-Sheet

• HOA to provide Liability, Fidelity, Property coverage EOI Certificate

• Copy of Flood Certificate

• Copy of Appraisal

REGARDING THE WORKORDER:

Please complete the Order-Form sampled below so a Project-Review-Request can be entered to our system. The Initial condition-set will be provided upon receipt of completed order-form

*Please ensure selection of:

• REVIEW-TYPE DESIRED

• CDSK TO - PROVIDE REVIEW CONDITIONS

• CDSK TO - REVIEW CONDO-DOCS UPON ARRIVAL

*CDSK TO - REVIEW CONDO-DOCS UPON ARRIVAL

*Please ensure complete loan terms are provided

• Primary/2ndHm/Investor

• Purchase/Refinance

• LTV