Hands On Guide: Loan Setup

Version History

Version	Date	Change
1.0	July 25, 2023	N/A
1.1	October 19, 2023	Updated mortgagee clause in HOI, EOI, Master Insurance to new loss payee clause. Corrected proposed insured in Preliminary Title Report / Title Commitment.

Content Outline

Module 1: Introduction

• How this Hands-On Guide Works

Module 2: Setup Documents

• Loan Setup: USPS

• Loan Setup: Tax Certificate

• Loan Setup: NMLS Search

• Loan Setup: Flood Certificate

• Loan Setup: Flood Hazard Notice

Module 3: Income Documents

• Income: Written Verification of Employment (WVOE)

• Income: Pay Stubs

• Income: W-2

• Income: 1099

• Income: Tax Returns

• Income: Tax Transcripts

• Income: Social Security Income Award Letter

• Income: Divorce Decree (Court Mandated Child Support/Alimony)

Module 4: Title Documents

• Title: Preliminary Title Report / Title Commitment

• Title: Closing Protection Letter (CPL)

• Title: Wiring Instructions

• Title: Survey

• Title: Errors & Omissions (E&O)

• Title: EMD Receipt

Module 5: Appraisal Documents

• Appraisal: Appraisal Report

• Appraisal: Submission Summary Reports (SSRs)

• Appraisal: AIR Certificate

Module 6: Property Documentation

• Property: Purchase Contract

• Property: Mortgage Statement

• Property: Homeowner’s Insurance (HOI)

• Property: Evidence of Insurance (EOI)

• Property: Master Insurance

• Property: Homeowner’s Association (HAO) Statement

Module 7: Other Documents

• Other:4506-C

• Other: SSA-89

• Other: Consumer Explanation Letter

• Other: VA Certificate of Eligibility (COE)