Denied mortgage loan
[DOC File]Audit Procedure - ACUIA
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5. Select a sample of 20 denied loans and complete Adverse Action Worksheet. 6. Complete Loan Servicing Compliance ICQs. Audit Procedure By: Reference/Comments Loan Activity. 1. Review summary of loan activity during the period. Examine activity with respect to very large loans or loans made with unusual interest rates, repayment periods, or ...
[DOC File]CHAPTER 2
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The DE underwriter must determine if the borrower is creditworthy in accordance with FHA standard credit policies and requirements. It is FHA’s policy that no borrower will be denied a FHA insured mortgage loan solely on the basis of a risk assessment generated by the TOTAL Mortgage Scorecard. System Overrides and Manual Downgrades
[DOC File]LOAN/APPLICATION REGISTER
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3 -- Application denied by financial institution. 4 -- Application withdrawn by applicant. 5 -- File closed for incompleteness. 6 -- Loan purchased by your institution Type of Purchaser (R) 0 -- Loan was not originated or was not sold in calendar year covered by register. 1 -- FNMA (Federal National Mortgage Association)
[DOC File]Bankers Online
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Code 1—Loan originated [loan originated/funded, including preapprovals] Code 2—Application approved but not accepted [do not use for preapproval] Code 3—Application denied [do not use for preapproval]* Code 4—Application withdrawn [do not use if preapproval withdrawn; only if application withdrawn before credit decision made.
[DOC File]Home | CSBS
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Loan Number: _____ (this data should be pulled from the servicing system) ... If you believe the loss mitigation request has been wrongly denied, you may file a complaint with the MMC. (STATUTES for 1 through 4 were effective June 1, 2010) ... A licensed mortgage servicer shall create and retain a file for each mortgage loan which it services ...
[DOC File]HMDA Reporting
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Excluded loan applications: If any of these questions are marked “yes”, this application is not HMDA reportable. Please stop here, and place this form in the loan (or denied) file for compliance purposes. Yes No ( ( Is this an application for a Home Equity Line of Credit?
[DOC File]COMPLIANCE CHECKLIST
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_____ 2. Loan Brokerage Agreement and Disclosure (from IAMB 6 pages) _____ 3. Illinois Borrower Information Document _____ 4. Notice to Borrower of Requirements of Illinois Mortgage Escrow Act _____ 5. Pre-payment Penalty Disclosure (at time of application) _____ 6. Notification of changes to your loan in process form(s) _____ 7. Language ...
[DOC File]LOAN/APPLICATION REGISTER
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1 -- Loan originated. 2 -- Application approved but not accepted. 3 -- Application denied by financial institution. 4 -- Application withdrawn by applicant. 5 -- File closed for incompleteness. 6 -- Loan purchased by your institution. 7 -- Preapproval request denied by financial institution
[DOC File]General Policies - Sierra Pacific Mortgage
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If a mortgage loan file is denied for purchase, the Seller shall be notified via the Sierra website. The specific reasons for denial will be identified on the purchase review denial notice. Sierra shall return the denied mortgage collateral package to Seller or to the warehouse lender holding a security interest in the note, as applicable.
[DOC File]Consumer Financial Protection Bureau
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The company that collects your mortgage payments is your loan servicer. This may not be the same company as your lender. If you have concerns about how your loan is being serviced or another aspect of your mortgage, you may wish to submit a complaint to the CFPB at consumerfinance.gov/complaint or by calling (855) 411-CFPB (2372).
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