INSURING QUALITY ASSURANCE CHECKLIST

Transcription

1 Borrower: Loan #: Late Endorsement Letter Yes No N/A 1. Present in the file if endorsed 60 days or more after disbursement date: a. If PR applied on loan, payment history reflects PR amount as well as FHAC b. Payment history in file if more than 30 days have passed from first payment date FHA Connection Yes No N/A 2. Case # Assignment screen print is present in the file 3. Case Query screen print is present in the file 4. CAIVRS is present in the file and matches CAIVRS # on the Final LT (if applicable) 5. Appraisal Logging screen print is in the file 6. Secondary financing, if applicable, is acknowledged in FHA Connection and Secondary Financing screen has been completed FHA Underwriting and Transmittal Summary (HUD LT) Yes No N/A 7. If FHA Connection includes MCR or Multi-Case Warning, then AFN Underwriter memo/clarification and/or attachment meeting the below criteria is in the file: a. MCR Case # is noted b. Reason for MCR and why it does not apply to this loan (justification for approval) is noted c. Supporting documentation is included (if required) 8. If secondary financing applies, funding source with source EIN is included (LTV & CLTV ratios should not mirror if second/third lien applies to loan) 9. If gift funds are used, source and non-relative source EIN is included 10. Manual Underwrite: Underwriter signature and date with Underwriter CHUMS ID listed on the HUD 92900LT 11. Are there additional discrepancies not noted above? (If marked yes, please see comments section of checklist) Automated Underwriting System (AUS) Feedback Certificate Yes No N/A 12. Present in the file (If N/A, skip to the next section) 13. ZFHA Approved/Eligible AUS mirrors LT in the file 14. Gift funds listed under source of down payment mirrors actual gift given/used? 15. If AUS does not mirror LT, the file has been downgraded to a manual underwrite or Refer/Eligible Mortgage Note and Security Instrument/Deed of Trust (DOT) 16. Mortgage Note and DOT mirrors data on LT/FHAC/AUS (ZFHA approved): Yes No N/A a. Note: present in the file b. Deed of Trust: present in the file c. Loan amount mirrors d. Interest Rate mirrors e. Property Address mirrors f. Case # / SOA /ADP mirrors g. Note: Borrower name matches FHAC h. Lender/Loan Officer/Sponsored Agent info matched to FHAC i. Note is signed by all Borrowers listed in Encompass (also dated, if applicable) j. DOT - Vesting (marital status mirrors Final 1003) k. DOT - Legal Description is attached l. DOT - is signed and dated by all vested parties m. DOT - is acknowledged by Notary Public, and Notary Commission was valid at time of signing n. DOT - Rider boxes coordinate with executed Riders is in the file 17. Are there additional discrepancies not noted above? (If marked yes, please see comments section of checklist) AFN-F-Ins_InsuringCklst.docx Rev. 12/08/2017 Page 1 of 6

2 Mortgage Riders Yes No N/A 18. Present in the file (If N/A, skip to the next section) 19. Mortgage Riders are signed and dated Subordinate Financing (2nd/3rd Liens, if applicable) Yes No N/A 20. Present in the file (If N/A, skip to the next section) 21. Fully executed Note(s), signed and dated, matching amounts listed on the LT and AUS, present in the file 22. Fully executed Deed(s) of Trust, signed, dated, and notarized, is/are in the file 23. Assignment of Deed of Trust, is fully executed and in file (applies to Chenoa 2nd's if MIN is not listed on the 2nd Deed) 24. Subordination Agreement is present in the file; (if subordinate lien is preexisting and not concurrent with this first lien transaction) Escrow Fee Sheet/Funding Approved and Final PCCD/CD Yes No N/A 25. California Properties: Per diem charged is within 1 day of disbursement date; (if greater than 1 day, and funding did not occur on a Friday, a cure will need to be applied; if Monday is a holiday, Tuesday disbursement is allowed) 26. Is the Final Fee Sheet (Dry/Damp state) in the file? 27. Is the Post-Consummation CD (PCCD) in file? 28. Is the Funding Approved Fee Sheet (Wet state) in file? 29. Is the signed Consummation CD in file? 30. CD info mirrors Final from Escrow/Note/LT/FHAC/AUS (ZFHA approved only) 31. If they do not match, the difference is reflected by a cure or lender credit applied (refer to COC) 32. Check for principle reductions and Seller/Agent credits; (these items should mirror between the two forms) 33. Has the Borrower's Required Investment been met? 34. Are there any additional discrepancies not noted above? (If marked yes, please see comments section of checklist) FHA Settlement Certification (if applicable) Yes No N/A 35. Present in the file (If N/A, skip to the next section) a. Purchase Contract date is listed on pages 1-2 (can reflect date PC was signed as well) b. Is signed and dated by the Borrower c. Is signed and dated by the Seller (not required on a HUD REO) d. Is signed and dated by the Escrow Agent/Attorney FHA/Respa/Loan Estimates/Required Disclosures Yes No N/A 36. Present in the file Buydown Agreement (if applicable) Yes No N/A 37. Buydown Agreement, if applicable, Power of Attorney (if applicable) Yes No N/A 38. POA accompanied by initial 1003 signed by the Borrower, or two letters from two separate doctors stating that the Borrower is incapacitated Loan Application (URLA/1003) Yes No N/A Yes No N/A 39. Final 1003: Signed and dated by the Borrower(s) and Loan Originator; (If the final URLA is not signed by the LO, the initial application signed by the LO is acceptable) a. Loan information mirrors LT/FHAC 40. Initial 1003: Signed and dated by the Borrower(s) and Loan Originator HUD Form A Yes No N/A Yes No N/A 41. Final HUD Form A: a. Present in the file b. Page 1: Parts 1 through 20 complete, (item 10 can be verified against PCCD, page 2) AFN-F-Ins_InsuringCklst.docx Rev. 12/08/2017 Page 2 of 6

3 HUD Form A (Continued) Yes No N/A Yes No N/A c. Page 1: FHA Sponsored Originations completed, including Tax ID (if applicable) d. Page 1: Signed and dated by an AFN Rep e. Page 2: Top and bottom sections signed and by Borrower(s) f. Page 2: Part V, items 22 to 25 are marked/ completed g. Page 3: Includes approval date and expiration date; Underwriter approval date matches Underwriter approval date in FHAC (and on the LT if manually underwritten) h. Page 3: Signed by AFN Underwriter in the corresponding Loan Type field i. Page 4: Signed and dated by Borrower(s); (AFN Insurer to sign and date at time of endorsement or uninsured binder submission to HUD) 42. Initial HUD A: Signed and dated by the AFN Loan Originator on page 1; signed and dated by Borrower(s) on page Are there any additional discrepancies not noted above? (If marked yes, please note in comments section of checklist) Borrower Authorization Yes No N/A 44. Borrower Authorization for Verification 45. Borrower Authorization for Use of Information Protected under the Privacy Act Refinance Documentation (if applicable) Yes No N/A 46. Refinance Authorization 47. If credit is due to Borrower(s), credit appears on the Final Fee Sheet and/or PCCD 48. Payoff Statement(s) for all liens present in the Encompass efolder 49. For loans funded on or after 11/15/2017 is there a payoff breakdown from escrow in file? (If so, calculate UPB using escrow breakdown for FHAC data entry) 50. Short Refinance: Borrower Certification for Refinance of Borrowers in Negative Equity (HUD 92918) (N/A: AFN does not do these types of loans) Borrower Identification Yes No N/A Yes No N/A 51. Evidence of Social Security Number (SSN) or Tax Identification Number (TIN) present in Encompass efolder (i.e.: SSN card, SSA-89, W-2, 1040's) 52. Non-US Citizens: Legal residency status and employment authorization documentation are present in the Encompass efolder and valid at time of close; (Refer to Section VIII Declarations Section, Items J and K of Final 1003 to determine if required) Credit and Capacity Documentation (as applicable) Yes No N/A Yes No N/A 53. Credit Report: Credit report ID matches report ID on AUS a. If the Property or the Borrower is located in a community property state, does the mortgage file contain a credit report for the non-borrowing spouse? AFN-F-Ins_InsuringCklst.docx Rev. 12/08/2017 Page 3 of 6

4 Credit and Capacity Documentation (as applicable)(continued) Yes No N/A Yes No N/A 54. Credit-related documentation [such as Letter of Explanation (LOE)] present in the Encompass efolder 55. Housing Counseling Certificate(s) present in the Encompass efolder (Bond/DPA and MCC loans) 56. Manual Underwrite: Verification of Mortgage or Rent Source of Funds Verification Yes No N/A 57. Present in the file 58. Verification of non-gift source of funds (Borrower s personal assets/bank statements) are present in the Encompass efolder 59. Gift Letter signed and dated by the Donor and Borrower is in the efolder; (Gift Letter allowed to reflect more than actual gift given) a. Proof of Donor ability to donate funds (bank statements) is in the efolder Income and Employment Documentation, (as applicable) Yes No N/A Yes No N/A 60. Listed documentation is present in the file, as required, for each borrower: a. VVOE b. WVOE (Req: If OT, Bonus, Commission, Variable Income used) c. Paycheck Stubs d. W-2's e. 1040's (Req: If Self-employed, Rental, and/or Grossed Up SS income used) f. Tax Transcripts g. Self-employed: Balance Sheet (if applicable) h. Self-employed: CPA Letter i. Self-employed: P&L (signed by Borrower) Appraisal and Related Documents (if applicable) Yes No N/A 61. Conditional Commitment Direct Endorsement Statement of Appraised Value is ( B) present in the efolder; Commitment issued date matches effective date on appraisal 62. Compliance Inspection Report and signed by the AFN Underwriter in the delegated section. (if applicable) 63. Mortgagee Assurance of Completion (if applicable) 64. Appraisal Update and/or Completion Report (form 1004D) is present in the Encompass efolder (not required for appraisals submitted through EAD portal) 65. Appropriate appraisal form used, including any/all required attachments and endorsements; (URAR is standard form; property type-specific form used for Condominium, Manufactured Home, Multiple Units) 66. Life of Loan Flood Certification 67. Evidence of Flood Insurance (for property in Flood Zone A or V) is present in the Encompass efolder (if applicable) 68. Evidence of Hazard Insurance 69. Wood Destroying Insect Infestation Report or state mandated report with clearance for all Section I items (if applicable) 70. Waiver(s), if applicable, are property-specific and issued by a HUD Homeownership Center (HOC) Unit Property: Borrower s Contract with Respect to Hotel and Transient Use of Property New Construction Exhibits (if applicable) Yes No N/A 72. Present in the file (If N/A, skip to the next section) 73. Builder s Certification (HUD Form 92541), is complete, and has been signed by all parties 74. Warranty of Completion of Construction (HUD Form 92544) is in the Encompass efolder, is complete, and has been signed by all parties AFN-F-Ins_InsuringCklst.docx Rev. 12/08/2017 Page 4 of 6

5 New Construction Exhibits (if applicable) (Continued) Yes No N/A 75. Certificate of Occupancy and Building Permit are present in the Encompass efolder; [Note: If County does not issue a Building Permit prior to construction (or its equivalent) and a Certificate of Occupancy (or its equivalent); a property one year old or less must have an Early Start Letter and all three inspections (initial, frame, and final) performed by FHA Fee Inspector or the local jurisdiction or a ten year warranty] 76. Ten-year Warranty Plan Coverage and Final Inspection (Warranty Letter, not application), from HUD-approved company is present in the Encompass efolder; (Note: Not required if ALL of the following items are present: Builder Certification, Building Permit, Final Inspection, Warranty of Completion, and Certificate of Occupancy) 77. FHA: Early Start Letter and evidence of three FHA Inspections are present in the Encompass efolder 78. Local Health Authority Approval for Individual Water and Sewer Systems (if applicable) 79. Subterranean Termite Protection Builder s Guarantee (99A) is present in the Encompass efolder 80. New Construction Subterranean Termite Service Record (99B) is present in the Encompass efolder 81. Elevation Certificate Letter of Map Amendment/Letter of Map Revision (LOMA/LOMR) Manufactured Housing (if applicable) Yes No N/A 82. Engineer s Certification for Manufactured Housing Foundation is present in the Encompass efolder (not required on Streamline Refi's) 83. Elevation Certificate Letter of Map Amendment/Letter of Map Revision (LOMA/LOMR) Condominium (if applicable) Yes No N/A 84. Certification for Individual Unit Financing (Appendix B/Lender Condo Cert) is present in the Encompass efolder, completed, and signed by a DE Underwriter Specialized Eligibility Documentation (if applicable) Yes No N/A 85. Hawaiian Home Land documentation is present in the efolder 86. Presidentially-declared Disaster Area clearance documentation is present in the Encompass efolder 87. Energy Efficient Documents and Home Energy Rating System (HERS) Report 203(k) Documentation (if applicable) 88. Listed documentation is present in the file, as required, Yes No N/A Yes No N/A for each Borrower: a. Borrower s Acknowledgement b. Borrower s Identity of Interest Certification c. Rehabilitation Self-help Agreement d. Homeowner/Contractor Agreement e. Contractor and Borrower Cost Estimates f. Rehabilitation Loan Agreement g. Rehabilitation Loan Rider h. Consultant Work Write-up i. Consultant Identity of Interest Certification j. Draw Requests Purchase Transaction (if applicable) Yes No N/A 89. Purchase Contract with all necessary attachments, executed by all parties, 90. Amendatory Clause executed by all required parties [Borrower(s) and Seller(s)], 91. Real Estate Certification, executed by all required parties [Borrower(s), Seller(s), Agent(s)], 92. Other contract addenda or short sale approval are present in Encompass 93. Chain of Title and Evidence of Good and Marketable Title (located in the Prelim 12 months minimum) are present in Encompass AFN-F-Ins_InsuringCklst.docx Rev. 12/08/2017 Page 5 of 6

6 Comments AFN-F-Ins_InsuringCklst.pdf Rev. 12/08/2017 Page 6 of 6