Remote Collateral Review Loan Documentation List
last updated on Wednesday, September 30, 2020 in Member Services
Loan File Documentation:
- Payment History (life of loan)
- HUD statement and closing disclosures (SFR only)
- Promissory note / Modifications / Loan Agreement (if applicable)
- Guaranty documents
- Recorded mortgage (including Exhibits)
- Final title work
- Appraisal / Valuation
- Flood determination (if applicable)
- Flood insurance (if applicable)
- Environmental Reports (Executive Summary only)
Underwriting Documentation:
- Loan Approval Presentation/Underwriting Transmittal Summary/Credit Approval/Lender Comment/or other documentation memorializing DTI or DSCR as applicable
- Tax returns/W2s/Financials (income verification) – Only required if not on the Loan Approval Presentation
- Most recent annual review (Commercial and Agriculture Groups only)
- Application (SFR only)
- Verification of employment and assets (SFR only)
- Repayment ability analysis (SFR only)
Loans to Individuals:
- Credit report - at origination and/or most recent modification (SFR Only)
Loans to LLC / Partnership / Corp / Other:
- Borrowing resolution or other authorization
- Evidence of existence/good standing (most recent)
Loans Secured by Chattel:
- Security Agreement
- UCC filing
- UCC lien search
- Other Lien Acknowledgements (i.e. vehicle titles, deposits, FAA)
Download a PDF copy of this list below.
COVID-19/ Remote MCV Documentation
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- COVID-19