Wright-Patt Closing QC Review_Revised 7-22-13

Wright‐Patt Closing QC Review

Loan Summary

Institution:
Loan Number:
Property Address:
Loan Purpose:
Occupancy:
Loan Amount:
Appraised Value:
Refinance Amount (Payoff):
Scheduled Closing Date:
Scheduled Loan Funding Date:
Subordinate Financing:
Cash to/from borrower:

Harvey Smith, Ext 5534 QC Start Date: 7-23-2013
Closer: Francine Schuster, Ext 5023
Initial Review QC Start Time:QC Start Time: QC End Time:QC End Time: 1:27pm
Click to Reset Form
9:10am
Borrower 1: Bonita Wolfe Borrower 2:
Loan Summary:
Wright-Patt Credit Union
50650258
378 Florence Ave., Wilmington, OH 45177
Limited Cash-Out
Primary Residence
$44,650.00
$70,000.00
$43,402.86
07/24/2013
(Minus sign shows cash to borrower i.e. -100.00)
07/29/2013
Not Applicable
$269.02
Order ServicesLoan Summary Appraisal Edit 1003 Tab Title CPL CTC Doc Prep HUD/Appraisal HOI & Misc.


Order Services

UW Final Approved DU Closer Final DU
Approve Eligible:     Approve Eligible:
Loan Product:     Does loan product match?
Appraisal Type:    Does appraisal type match?
Cash to/from borrower:
Verified Assets:$ Is cash to or from borrower still within guidelines?
Verified assets?

Early Check
Fannie Mae Early check status a pass?

MI Cert ordered?
If yes, Monthly Premium amount $

Harvey Smith, Ext 5534Harvey Smith, Ext 5534 QC Start Date: 7-23-2013
Initial ReviewInitial Review QC Start Time: 9:10am QC End Time: 1:27pm
Loan No. :Loan No. : 50650258 Borrower 1: Bonita Wolfe Borrower 2:
Prop Address: 378 Florence Ave., Wilmington, OH 45177
Order Services:
No sYes sNo Yes Error
DURP:LCO: CO: R&T:s No sYes
PIW No s
FROM $269.02 Cash Restraints:
Yes
Limited by appraised value & max LTV per DU
628.85
Error No s sYes No Yes
No
No sYes
Yes N/A s LTV: 63.79%
Loan Summary Order Services Appraisal Edit 1003 Tab Title CPL CTC Doc Prep HUD/Appraisal HOI & Misc.


Loan Summary Tab>Loan Data>Property

Appraisal

Address matches loan summary?

Property Type:

PUD/Condo Project Name:

Appraised Value matches loan summary?

Occupancy matches loan summary?

Legal Description: Meets and Bounds (see exhibit A)
Lot and Block (match to title commit)

Initial Review QC Start Time: 9:10am
QC End Time: 1:27pm
Loan No. : 50650258 Borrower 1:Borrower 1: Bonita Wolfe Borrower 2:
Appraisal Loan Summary Tab>Loan Data>Property:
Error No s N/AYes
SFR Correct? No sYes
No sYes N/A
No sYes N/A
Matches System? No Yes N/A
Not applicable since this is a PIW


Edit 1003 Tab

Borrower(s)
B 1: B 2:
Marital Status:     Marital Status:

Employment
VVOE (10 business days VVOE/30 SE VVOE)
B1:
VVOE Date: Expires:   Current   Expired

B2:
VVOE Date: Expires:   Current   Expired

Liabilities
1st
Mtge Payoff:   2nd
Mtge Payoff:

2nd
  To Be Subordination

Payoff(s)
1st
Mortgage payment due for:
2nd
Mortgage payment due for:

Are any other liabilities marked “paid by close”?
Creditor   Payoff Amount

Initial Review QC Start Time: 9:10am QC End Time: 1:27pm
Loan No. : 50650258 Borrower 1: Bonita Wolfe Borrower 2:
Edit 1003 Tab:
Bonita Wolfe
Unmarried
Push for Calender
W2 Earner
07/22/2013 08/05/2013 s
$43,402.86 $0.00
N/A Liabilities Correct? No sYes
s Current Month
Payoff(s) Correct? No Yes s
Other Liabilities Correct? No Yes N/A s


Path>Doc Prep>Verify Title
Title Commitment:
Title Company name and address are entered correctly?

Tax Amount: Interest/Penalties: Paid Due

Legal Description:    Meets and Bounds (see exhibit A)
Lot and Block (match to title commit)

Legal description is entered correctly?

Address matches Loan Summary?

Vesting and marital status matches on title and 1003?

If no, is there a non‐borrowing spouse?

Are all liens being paid off?

Is the parcel number entered correctly?

PUD/Condo project name entered and classified correctly?

Status Completed?

CPL
Does borrower name match 1003 borrower(s)?

Does property address match loan summary?

Does loan number match loan summary?

Clear to Close (required if Title Company is Hallmark) Other:

Title, CPL, CTC; Path>Doc Prep>Verify Title:
No sYes
$475.41 $0.00 Paid
Legal Match w/Title
No s
s
Not Applicable
N/A s
No
No
No
No
Yes
Yes
Yes
Yes
Yes
No
No
s
s
No Yes
s
No Yes
Yes
Yes
No Yes
s
s
s
s
No sYes
Paid


Path>Doc Prep>Verify Borrower>Edit Borrower Information
Does vesting or marital status need to be corrected?

Borrower Alias: (must be completed if name variance)

Is the non‐borrowing spouse entered?

Is Borrower Membership Status marked Current Member?

Path>Doc Prep>Verify Property Information
Property Type matches loan summary?

Status Completed

Path>Doc Prep>Review Conditions
All “prior to approval” conditions are completed/waived?

All closer “At Closing Conditions” have been completed/waived?

Status Completed?

Path>Doc Prep>Verify Fees & Impounds
Escrows Waived?

If yes, taxes are not required to be collected unless they are past due or there are penalties.

Complete Fees>Closing Cost Details
Closing Date Entered Correctly?       Funding Date Entered Correctly?

Doc Prep Section:
No s
Not Applicable
No N/A s
N/A
close
Both
No
No
No
Correct?
s
s
s
No
No
No
No
s
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
s
s
s
s
sNo Yes No Yes


Complete Fees>Closing Cost Details
HUD
Does borrower name match 1003?

Does address match loan summary?

Do all fees match closing cost details?

Are all vendors listed accurately on fee screen?

Are any courtesy payments reflected?
Note:  Only allowed on cash out refinance or borrower bringing funds to close if required by DU

Does cash from/to borrower match DU findings?

Are there any principal reductions?

If yes, are there loan notes indicating approval by Wright‐Patt?

Do any buckets exceed tolerance?

Tax Installment>Details
Override amount matches taxes due from title commitment?

Reserves/Impounds>Property Taxes>Details
Is monthly escrow amount correct?

Appraisal Invoice
Amount Due:

Matches amount collected on fee screen?

Loan Summary>Make Payment>
Amount collected:

If manual, do loan notes confirm collection by Cindy Fisher?

Lender credit matches amount collected?
Exception:   CU Select only credits the amount of the appraisal NOT the credit report

Initial Review QC Start Time: 9:10am
QC End Time: 1:27pm
HUD & Appraisal Invoice:
No sYes
No sYes
No sYes
No sYes
NoNo s YesYes
NoFROM
No
No
sYes
No Correct? Yes N/A
Yes N/A
No s Yes
No Yes N/A
No sYes
N/A: Brw Waived
$0.00
No sYes N/A
$0.00 Correct? No sYes
No Yes N/A
s
s
s
No Yes N/A s
s


HOI
Mortgagee Clause:    Wright‐Patt Credit Union, Inc.
Central Loan Administration & Reporting (Optional)
ISAPA, ATIMA
P.O. Box 202028, Florence, SC  29502

Loan Number matches loan summary?

Expiration Date: (collect if due within 60 days)

Premium Amount:

Homeowners Insurance>Details
Override Amount matches premium due?

Vender Name is completed?

Monthly amount is correct?

Disbursement next due date marked correct?

Path>Doc Prep>Disclosure Information

Does loan signing date match loan summary and HUD?

Does loan funding date match loan summary and HUD?

Status completed?

Path>Doc Prep

All other statuses completed/waived?

Enter in loan notes:  QC review complete:  Action Required/Pass
Harvey Smith, Ext 5534Harvey Smith, Ext 5534 QC Start Date: 7-23-2013
Initial ReviewInitial Review QC Start Time: 9:10am QC End Time: 1:27pm
Loan No. :Loan No. : 50650258 Borrower 1: Bonita Wolfe Borrower 2:
HOI & MISC:
No sYes
11/07/2013
$441.00
No Yes N/A Borrower Waived Escrowss
s
s
No Yes
No Yes
N/A s Borrower Waived Escrows
s
No Yes
No
No s
Yes
Yes
No s
s
Yes
No Yes
Borrower 1: Borrower 2:

Wright-Patt Closing QC Review_Revised 7-22-13

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