Document Preparation Services
We prepare your loan documents using our state of the art Docs on Demand document preparation and compliance system. Docs on Demand performs hundreds of automatic compliance audits on the loan data entered. Some primary audits include the TILA-RESPA Integrated Disclosures (TRID) fee variance test, Ability to Repay (ATR) Qualified Mortgage (QM) 3% fees and points test, Section 32 high cost loan test, Section 35 higher priced mortgage loan (HPML) test, Mortgage Disclosure Improvement Act (MDIA) APR test, mortgage insurance compliance audit, and escrow compliance audit. You may send orders electronically via interface utilizing common loan origination software systems. To facilitate the secure upload of supporting documents and view real-time service status, you will be given a free account with our web-based Docs on Demand system. Our service includes preparation of the Closing Disclosure and a quality control review. The Closing Disclosure may be delivered for e-sign by the borrower and loan documents may be delivered via email with a link to the documents in PDF format.
As part of our Funds Request service, we request funds from the warehouse lender using an advance request process. Then, as part of our Pre-Funding Review service, we instruct the settlement agent after loan closing to send to us the Closing Disclosure and other primary loan documents, such as the promissory note and security instrument, along with the closing conditions shown on the Closing Instructions. Upon receipt of these documents, we review the Closing Disclosure and other primary documents for accuracy and proper execution. Finally, we issue funding authorization to the settlement agent to authorize funds disbursement.
The settlement agent is instructed to return the closed loan package to our office after loan funding. We then stack the documents in the order specified by the investor. We review the documents and coordinate the retrieval of missing documents. Before delivery, we archive an electronic image of the package in our secure Docs on Demand system, where it may be viewed, printed, and saved. Trailing documents are returned to our office for tracking, imaging, and forwarding to the appropriate investor. Finally, we coordinate the clearing of loan purchase suspense items that may arise from time to time.