Mortgage Fulfillment Services

Equilibrium Mortgage Fulfillment Services are completely customizable and cover a wide variety of loan products.

Loan Set Up

  • Indexing
  • Searches – MERS, GeoCode, Property Details
  • Initial Disclosures
  • Rate Lock/LE Review
  • Complete order-outs as required
  • Complete 75 point plus data inspection

Opening: Pre-Underwriting

  • Send Notice of Incomplete to LO/Processor
  • Loan Review According to Loan Program
  • Generating AUS
  • 100 point plus check list review as per Statement of Work
  • Generate DU/LP as required or rerun
  • No product exempt

Contract Underwriting

  • Initial and clear to close as required
  • Compare DU and LP
  • Final Review According to Loan Program – Issue the Clear to Close
  • Send Notice of Incomplete to LO/Processor
  • On and Off Shore (state contingent reequirments) reviews
  • Full AUS review – including Loan Beam for Self-Employed
  • Decision Preparation – Approve, Suspend Decline
  • Review Fraud Tools to ensure compliance
  • Non-QM & Jumbo allowed

Processing

  • Complete Verification of Employment, Appraisal Revision, Title Update
  • Obtain Loan Estimate and Closing Disclosure
  • Communicate with Clients Sales and Operations Liaison to complete loan file PTDs

Risk Analysis: Quality Control

  • Conduct Thorough Analysis To Avoid Salability or Insurability Issues
  • Verify and Check Data For Correctness and Completeness
  • Confirm Adherence To Credit Policy
  • Validate Asset/Reserves
  • Clear and Document High Alerts From Fraud Guard

Pre-Closing Audit

  • 10% Agency Criteria
  • Ensure Guidelines Match Requirements All Product
  • Disclosure Review Initial, interim and Final
  • COC (Change of Circumstance) Review
  • Ensure all documents are correctly dated, signed and complete
  • Review 100+ point documentation inspection review as per SOW (Statement of Work)

Pre-Closing: Docs Drawn

  • Review of Title Report for closing requirements, other required endorsements, previous deeds and Tax Certificate
  • Final review of documents for SSN, property address, borrower name, all parties state license ID
  • Review of disclosures, timeline of closing
  • Run compliance report and clear all alerts
  • Inform all parties as to closing date and time
  • Draw closing docs, review for accuracy and forward to settlement agent

Post Close: Quality Control

  • Perform complete closing package review: Note, Mortgage, all Disclosures
  • Verify all signatures are dated and notarized per closing date
  • Reverify Loan Estimates and Closing Disclosures with valid Change of Circumstance to confirm all fees and changes are in compliance
  • Make sure all of the following matches the Loan QC: credit, income, asset, appraisal report, title report, sales contract, HOI, master insurance policy and flood policy
  • Loan review as per specific investor requirements and prepare investor specific documents
  • Provide rating on the complexity of the loan

Trailing Docs

  • Conduct Thorough Analysis To Avoid Salability or Insurability Issues
  • Verify and Check Data For Correctness and Completeness
  • Confirm Adherence To Credit Policy
  • Validate Asset/Reserves
  • Clear and Document High Alerts From Fraud Guard

Independent Reviews

  • Collateral
  • Title
  • Condo – HOA
  • PUD – HOA
  • HOI

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