| The role of a Fund Nation Loan Officer is to facilitate the origination process and ensure that documentation is collected, completed and approved. Each Fund Nation Loan Officer will have a Fund Nation account manager to contact should questions arise.
In order to earn a fee for participating in the origination of a mortgage, the Fund Nation Loan Officer has specific tasks to perform, including:
Complete the Initial Loan Application.
· Ask the borrower(s) to complete Previous Address, if applicable, and all of the employer information.
· Ask the borrower(s) to answer all Declarations questions.
· Ask the borrower(s) to complete the government monitoring section
· Complete the section that tells us how you took the application (i.e. face-to-face, over the phone)
· Sign and date the application.
· Ask the borrower(s) to sign and date the application. Send us the original.
· Discuss custom fit rates and pricing generated by the system for the borrower
· Select the option to 'Float' or 'Lock' the interest rate
· Electronically 'submit' the loan to FundNation.com
Print and Provide the Borrower with the Mortgage Loan Disclosure Statement/Good Faith Estimate. ·
Input your name, license number and address.
· Write your name on the form where indicated
· Sign and date this disclosure in TWO places at the bottom of page two.
· Ask the borrower(s) to sign and date. Send us the original
Print and Provide the Borrower with the Housing Financial Discrimination Act of 1977 Fair Lending Notice (including the Advance Fee Agreement). · Ask the borrower(s) to sign and date. Send us the original.
Lock-in Agreement. · Ask the borrower(s) to sign and date. Send us the original.
Approval Letter. · Ask the borrower(s) to sign and date.
Help the Borrower Gather Supporting Documentation - Borrower Instructions.
The Supporting Documentation Addendum provides you with a list of documents that the borrower(s) needs to provide to verify the information entered into our system – please give a copy of this list to the borrower(s). FundNation can receive the documents in two ways: ·
Gather from borrower(s) the items listed on the "Borrower Instructions" page.
Provide a Fund Nation mailing envelope to the borrower(s). Have the borrower(s) send the required documents directly to us.
Collect a Deposit By Check.
It is the Fund Nation Loan Officer's obligation to collect from the borrower(s) a check in the amount of $300, payable to Fund Nation. Please remember to send the check to Fund Nation immediately. This will allow us to continue the origination process, including the ordering the appraisal.
Deliver the 'Opening Package' to Fund Nation. in the prepaid UPS envelope provided by Fund Nation. · A check, payable to Fund Nation., from the borrower(s) for $300.00
· Initial Loan Application
· Mortgage Loan Disclosure Statement/Good Faith Estimate
· The Housing Financial Discrimination Act of 1977 Fair Lending Notice (including the Advance Fee Agreement)
· Lock-in Agreement
· Approval Letter
As the loan process continues, you may be asked to help facilitate items needed from escrow or with requirements associated with the sales contract of the property.
|
Equal Housing Opportunity