Remote Collateral Review Loan Documentation List

posted 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