Introduction to Non-Delegated Loans
Step 1: Registering Your Loan
Step 2: Submitting Your Loan
Step 3: Requesting Underwriting Condition Review
Step 4: Ordering Docs or Submitting for Purchase Review
Step 5: Requesting Suspense Condition Review
Key Tasks: Uploading Docs, Resolving Tasks
Uploading Pre-Purchase Suspense Conditions
Once the purchase review has been completed, your loan status will change to Pre-Purchase Conditions and the Post-Closer will receive an email with the pre-purchase suspense certificate, listing all the outstanding conditions. Submitting all the suspense conditions at once will expedite review.
Upload your conditions under the Non-Delegated Correspondent Upload folder as Doc Type, Complete Loan Package Ready for Purchase Review.
To learn more about uploading, please read Uploading your Loan Docs.
Submitting Pre-Purchase Suspense Conditions
When all conditions have been uploaded, you can request final purchase review by resolving the task, Submit: Suspense Conditions Ready for Review on the Tasks tab.
Note: We are not automatically notified when these documents are uploaded.
To learn how to resolve task, please read Resolving Tasks.
The loan status will change to Submitted for Final Purchase Review. Your purchaser will review the uploaded conditions within the current turn times. Once completed, an updated pre-purchase suspense certificate will be emailed and your loan status will revert to Pre-Purchase Condition if any pre-purchase conditions remain. Repeat the above step if any additional pre-purchase review is required.
Once all PTP conditions have been cleared, your loan status will change to Clear to Purchase. Your loan will be scheduled for wiring and we will email the Purchase Advice.
When the wire has been sent, the loan status will change to Loan Purchased. After purchase, you will transfer the MERS number and send the Deed of Trust and Final Title Policy via mail. Upload these trailing documents under the Non-Delegated Correspondent Upload folder as Doc Type, Trailing Docs.
Congratulations - Your loan has been successfully purchased!