QC Closed Loan Checklist

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					                       Quality Control Closed Loan Checklist
Borrower(s):            BSSN:               BDOB:                 CBSSN:              CBDOB:
Address:           City:          State:               ZIP:            County:
FHA Case #:                     Broker:                           Loan #:

                                                                IMPORTANT DATES
Initial GFE:         Counseling:            FHA Case#:               Application:              Closing:          Funding:


                  Initial Application Documents / Application Date:                                            Rate:
   Anti Churning Disclosure - If HECM Refinance
   Evidence of NMLS Licensing for Company & Originator
   FHA Appraisal Logging Print out (Check Value, Case #, Appraiser)
   FHA Case Assignment:            Case number, Vesting, Correct
   FHA Connect HECM Counseling Certificate Info (Correct name(s), dates, Address)
   GFE/Estimate of closing cost worksheet/ Settlement Services Provide List/ Required Providers
   Guardianship, Conservatorship, Power of Attorney (If applicable) / Letter from Judge / Letter from Doctor
   HUD Counseling Disclosure (Check to make sure matches HECM FHA Connection printout)
   Initial Application (1009) -7 Pages, (with HUD/ VA Addendums) Accurate Info, Signed and dated
   CAIVRS Printout
   Repair Worksheet      Correct amount set aside                 Repairs in RV?
   Repairs are not Health and Safety
   Social Security & DOB Verifications/ Clear and Legible copies, names agree with Vesting
   TIL (Fixed rate) executed within 3 days

                       Closing Documents / Closing Date:                                   Funding Date:
   Adjustable Rate Loans w/ LOC or Payment Plan – Proof of Draw/Monthly pmt to borrower
   Completed FNMA Loan Submission Schedule (FNMA form 928)
   Electronic Funds Transfer Request (with voided check)
   1st Note and Addendums Original (Check case#, address, dates, vesting, and rate compared to RV)
   Allonges - Seller to Urban (Original executed by Seller) and Urban to Blank (Unexecuted)
   1st Security Instrument (Mortgage/Deed of Trust) certified true copy, (Check case#, address, dates, vesting)
   Riders if Applicable (PUD, CONDO, ETC)
   2nd Security instrument (Mortgage/Deed of Trust) certified true copy (Check case#, address, dates, vesting, applicable riders)
   2nd Note and Addendums certified true copy (Check case#, address, dates, vesting, and rate compared to RV)
   Durable Power of Attorney, Conservator or Guardian, Trust Agreement, if applicable
   Trust (Check Vesting and Signatures from all parties) & Trust Opinion Letter from Attorney
   HUD 1 and Addendum (Check vesting of names, signatures, balance against RV and Closing docs, confirm 3-day rescission)
   TALC, Comparison (Final Calculations), Amortization Schedule
   Loan Agreement, Exhibit 1, 2, 3 (If applicable) (Check case#, address, dates, vesting)                 Balances with RV (Certified Copy)
   Final Truth in Lending
   Hazard Insurance         Expiration Date:                  Amount$
   Hazard Insurance           Name and address correct                   Sufficient Coverage
   Flood Certificate (Life of Loan Cov.)       Name and address correct              Flood Zone Y or N             If Y - Evidence of Flood Insurance
   Flood Transfer Notice/ Letter to URBAN
   Alternate Contact Form
   Final Application (1009) signed/dated by Loan officer and Borrower(s)
   Certificate of HECM Counseling HUD 92902
   92900 Addendum Final HUD/VA - signed/dated by all parties
   92900- A Direct Endorsement Approval
   Assignment of Deed of Trust/Mortgage - Seller to Urban (Copy) Urban to Blank (Unexecuted)
   Notice of Assignment, Transfer or Sale of Servicing Rights
   Notice of Right to Cancel – Have 3 days to rescind – check closing date and funding date
   Title commitment (Taxes Paid, Vesting Deed (check), Legal, Check all requirements met) $__________AMT
   Proof of MIP payment (i.e. Case Query or IACS printout)
   Signed Rate Sheet (Except for Puerto Rico)
   Name and Signature Affidavit
   Conditional Commitment Direct Endorsement Statement of Appraised Val (Hud 92800.5B) issued by UW
   Appraisal is       AS IS OR             SUBJECT TO              Look for health and safety issues & Census Tract in RV
   IF SUBJECT TO: either       Repair set aside OR            Certificate of Completion in file
   Appraisal (Color Copy) Date:             Expires:            Value:         (Compare to RV, App. logging, title, and closing docs).
Due________AMT_____________Paid by_________________
     COMPLETED BY:                         DATE:
      Quality Control Closed Loan Checklist
                  Pre-Purchase Conditions:


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posted:7/27/2012
language:English
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