What is happening today in mortgage lending:
With rates being so good don't miss the opportunity to do some FHA streamline loans and VA IRRRL loans. I have already given you a list of what is required for an FHA streamline loan you can also find that list on my blog (under FHA menu). Here is a list of what is required for a VA IRRRL:
Lender Submission Form
Copy of Lock
IRRRL
Final 1003 and addendums ( Matching IRRRL )
Initial 1003 and addendums
Mortgage rating ( 12 months )
CAIVRS ( both borrowers )
Copy of original note
Payment Coupon
Verification of SS number
Certificate of eligibility
Loan number
Payoff ( current )
Title Report
Federal Collection Policy Notice
VA Related Indebtedness ( completed, doesn’t need signature )
Hazard insurance
Mortgage Loan origination agreement
Good Faith
TIL
borrowers Authorization
Shirley Nault has been a mortgage professional for over 20 years. Visit her other mortgage web sites go to: www.naultfhatips.blogspot.com or www.dutips.blogspot.com<
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