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What You Do

Each File submitted to SDS Processing REQUIRES the following

Submit file using SDS loan submission form. This form will include the following information

1. LOs Name and Phone Number
2. Complete and Signed 1003 (handwritten or other)
3. Credit Report (updated reports to come from Mortgage company)
4. Signed Original Disclosures (Including 4506 and lock-in confirmation)
5. Borrower's signed authorization to request supporting documents.
6. GFE or Closing Cost Summary
7. Fully Executed sales contract (if purchase)
8. Submission Information (Lender/Underwriter Information)
9. Appraiser Name, Telephone and Fax Number (Include who will be charged)
10. Attorneys Name, Telephone and Fax Number (Form will state Broker responsible for any
     cancellation fees)
11. Warranty Deed (if Refinance)
12. Current Mortgage Information including Loan Number and Phone Number.
13. Homeowners Insurance Information
14. Necessary Bank Statements, Tax Returns, W-2s and/or Pay Stubs for selected loan program.

Additionally

1. Funded Files are paid to SDS direct from title company.
2. Initial and Updated Credit Reports are supplied by Mortgage Company.
3. Canceled files are returned to Mortgage Company minus any work that we performed to the file.
4. SDS reserves the right to confirm cancellation with borrowers and Title company.
    Any file that is canceled and then re-opened, that SDS submitted to Underwriter,
    the processing fee is due.
5. Any negotiations with underwriter is Broker responsibility unless otherwise agreed to in writing.
 

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