PRE-CLOSING AUDIT WORKSHEET

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PRE-CLOSING AUDIT WORKSHEET

Performed by: _____________________

Date: __________

BORROWER

LOAN# LOAN TYPE TRANSACTION TYPE ORIGINATION STAGE LOAN

DATE

IS IN

LOAN ORIGINATOR

PROCESSOR

UNDERWRITER

Loan Officer Rating: Processor Rating: Underwriter Rating:

Acceptable Acceptable Acceptable

Minor Deficiencies Unacceptable Minor Deficiencies Unacceptable Minor Deficiencies Unacceptable

This loan was reviewed through an AUS system:

LP DU Key #

AUS Date: This loan was manually underwritten with an AUS of: Caution

Refer

This loan is a manual underwrite-no AUS FHA Streamline VA IRRRL Other

SECTION 1: SEARCHES

Searches performed manually Fraud Software searches from: __________________

LDP/GSA on all parties connected with this transaction

OFAC on all borrowers

SSN validation, third-party

Owner-occupancy supported (refinance)

MERS check

Case Query check

Business license check (self-employed)

Business phone #/Directory check

Professional license check

Other:

Revision date: 4/20/2015

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MERS / Clearance

MERS #

CLEARED

OPEN

MATCHES INFORMATION IN FILE

Case Clearance (FHA)

CASE QUERY

STREAMLINE OTHER

INFORMATION ON CASES

Additional Open Case Numbers Exist, per Case Query. File to be Referred to:

Comments:

Search Results Transferred to Pre-Closing Audit Report Insignificant

None

Significant Resolved (Gross Defect Ratio)

Significant Unresolved (Net and Gross Defect Ratio)

Revision date: 4/20/2015

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SECTION 2 LOAN APPLICATION

Loan application is complete, signed and dated. Occupancy status matches AUS findings. Borrower executed top of URLA, if non-purchasing spouse or another is on the loan request. Borrower's current residence matches address on credit report. Borrower's employment represents at least 2 years. RED FLAG: Address for employer on the loan application does not match: paystub or VOE

W-2 Directory Search Borrower's employment is logical based on borrower's age. Borrower's place of business is within a reasonable distance to his/her residence. If borrower is self-employed, box is checked and business information matches tax returns. All assets disclosed on URLA match assets documented in the loan file and match AUS Findings. List of property/properties owned matches/match fraud software, MERS, as well as other

documentation in loan file. US Citizen box is checked and, if not, documentation to support program eligibility is provided. FHA: Addendum A all four pages properly executed by LO and Borrower with certification boxes

completed. If loan has been underwritten, page 3 of Addendum A has been completed by Underwriter. VA: Addendum to URLA Page 1 and 2, executed with proper certification boxes completed. FHA/VA Case Number appears on loan application and applicable addendums.

Comments:

Referred issues to:

Application Results Transferred to Pre-closing Audit Report Insignificant None Significant Resolved (Gross Defect Ratio) Significant Unresolved (Net and Gross Defect Ratio)

Revision date: 4/20/2015

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SECTION 3: INCOME INCOME DOCUMENTS REVIEWED

Borrower #1

Total Income Reported to AUS: $

Length of Employment:

Length in Same Field: Primary Type of Income:

Paystub(s) dated: Paystubs are computer-generated. Direct deposit (if applicable) matches paystub. YTD totals consistent with gross pay amount, appearing on tax returns, W-2s, VOE's.

W-2's for the year(s): IRS W-2 printout matches W-2's

VOE covering (time frame) Previous VOE covering (time frame) IRS Tax Returns for the year(s) IRS Transcripts for the year(s) Business Tax Returns for the year(s) Business IRS Transcripts for the year(s) FHA: Current P&L for self-employed borrowers

Rental Income

All properties owned in a tax year appear on the borrower's Schedule E. Income calculations underwriter used include Leases - % - PITI or: Schedule E

Other Income

Other income source: $_____________________ Other income source: $_____________________ Other income source: $_____________________ Other income source: $_____________________

Comments:

Referred issues to:

Revision date: 4/20/2015

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Borrower #2

Total Income Reported to AUS: $

Length of Employment:

Length in Same Field: Primary Type of Income:

Paystub(s) dated: Paystubs are computer-generated. Direct deposit (if applicable) matches paystub. YTD totals consistent with gross pay amount, appearing on tax returns, W-2s, VOE's.

W-2's for the year(s): IRS W-2 printout matches W-2's

VOE covering (time frame) Previous VOE covering (time frame) IRS Tax Returns for the year(s) IRS Transcripts for the year(s) Business Tax Returns for the year(s) Business IRS Transcripts for the year(s) FHA: Current P&L for self-employed borrowers

Rental Income

All properties owned in a tax year appear on the borrower's Schedule E Income calculations underwriter used include Leases - % - PITI or: Schedule E

Other Income

Other income source: $_____________________ Other income source: $_____________________ Other income source: $_____________________ Other income source: $_____________________

Comments:

Referred issues to:

Revision date: 4/20/2015

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Borrower #3

Total Income Reported to AUS: $

Length of Employment:

Length in Same Field: Primary Type of Income:

Paystub(s) dated: Paystubs are computer-generated. Direct deposit (if applicable) matches paystub. YTD totals consistent with gross pay amount, appearing on tax returns, W-2s, VOE's.

W-2's for the year(s): IRS W-2 printout matches W-2's

VOE covering (time frame) Previous VOE covering (time frame) IRS Tax Returns for the year(s) IRS Transcripts for the year(s) Business Tax Returns for the year(s) Business IRS Transcripts for the year(s) FHA: Current P&L for self-employed borrowers

Rental Income

All properties owned in a tax year appear on the borrower's Schedule E Income calculations underwriter used include Leases - % - PITI or: Schedule E

Other Income

Other income source: $_____________________ Other income source: $_____________________ Other income source: $_____________________ Other income source: $_____________________

Comments:

Referred issues to:

Revision date: 4/20/2015

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7

Borrower #4

Total Income Reported to AUS: $

Length of Employment:

Length in Same Field: Primary Type of Income:

Paystub(s) dated: Paystubs are computer-generated. Direct deposit (if applicable) matches paystub. YTD totals consistent with gross pay amount, appearing on tax returns, W-2s, VOE's.

W-2's for the year(s): IRS W-2 printout matches W-2's

VOE covering (time frame) Previous VOE covering (time frame) IRS Tax Returns for the year(s) IRS Transcripts for the year(s) Business Tax Returns for the year(s) Business IRS Transcripts for the year(s) FHA: Current P&L for self-employed borrowers

Rental Income

All properties owned in a tax year appear on the borrower's Schedule E Income calculations underwriter used include Leases - % - PITI or: Schedule E

Other Income

Other income source: $_____________________ Other income source: $_____________________ Other income source: $_____________________ Other income source: $_____________________

Comments:

Referred issues to:

Revision date: 4/20/2015

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SUMMARY OF INCOME FINDINGS

AUS income matches documentation in the file: If No, state which documents are incorrect: Borrower 1:Correct Incorrect Borrower 2:Correct Incorrect Borrower 3:Correct Incorrect Borrower 4:Correct Incorrect

Yes No

Documents that are incorrect include: (State borrower 1, document source)

Corrections to income are as follows:

Borrower #1

Total Income: $

Base $

O/T $

Bonus $

Commission $

Other (Amount/Defined Source) $

Borrower #2

Total Income: $

Base $

O/T $

Bonus $

Commission $

Other (Amount/Defined Source) $

Borrower #3

Total Income: $

Base $

O/T $

Bonus $

Commission $

Other (Amount/Defined Source) $

Borrower #4

Total Income: $

Base $

O/T $

Bonus $

Commission $

Other (Amount/Defined Source) $

Rental $ Rental $ Rental $ Rental $

Retirement $ Retirement $ Retirement $ Retirement $

Revision date: 4/20/2015

? Donnashi Enterprises Inc. Distributed Free of Charge, Not for Sale

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