We accept pre-approvals on primary residence, purchase loans.
For Jumbo loans, we only accept pre-approvals if loan qualify for our Laguna or Manhattan programs.
Pre-approvals on Laguna Jumbo loans are restricted to one units with a loan amount under $1.5 million. We do not accept condominiums. The following criteria is required:
- DTI must be under 40%.
- Cannot use business funds.
- Cannot have limited credit history.
- Restricted income from stocks.
For any questions regarding pre-approval, contact your Account Executive or Account Manager. Their contact information is listed under Account Executive and Junior Processor in the Status and Agents tab.
Setting Up Key Pre-Approval Fields
After importing the loan, enter City, State, Zip Code and County as normal, but list Street Address as TBD on the Property & Loan Info tab in the Pricing tab of your loan.
Once the Property & Loan Info is updated, choose your pricing filters - Terms, Amortization Type, and Product Type, then Price for your preferred loan program.
You can register once you have determined your preferred rate and program.
Upload Pre-Approval Documents
Upload all credit, income and asset documents under the Broker Upload folder as Doc Type, Loan Submission Package.
To learn more, please read Uploading your Loan Docs.
After the required documents are uploaded, you can request pre-approval by resolving the task, Submit: Pre-Approval Request on the Tasks tab.
Note: We are not automatically notified when these documents are uploaded.
To learn more about this process, please read Resolving Tasks.
Our Pre-Approval Team will review your pre-approval package. If they encounter any issues or missing documents, our team will email you with the required information.
A Loan Coordinator will ensure all program-specific income, asset, and documentation requirements are met prior to underwriting. Once the package is verified, they will send you an email notification with the current turn times.
Once the pre-approval review is complete, you will receive either a pre-approval or denial certificate. Your loan status will update to either Pre-Qual or Loan Denied.
Submitting the Full Loan Package
If your loan was pre-approved, you can continue the submission process on the same loan once a property has been selected. Simply, enter the street address on the Application Information tab or the Pricing tab, generate initial disclosure, upload your submission documents, and request submission review. If you are generating initial disclosure through JMAC's broker portal, read Step 2: Generating Your Initial Disclosures, but if you are submitting your loan, continue to Step 3: Submitting Your Loan.