DISCOUNT MORTGAGE SUBMISSION CHECKLIST
INSTRUCTIONS: BE SURE TO COMPLETE ALL SECTIONS OF YOUR DISCOUNT MORTGAGE SUBMISSION SHEET. INCLUDE ALL INFORMATION REQUIRED BELOW FOR FAST FUNDING. IF YOUR CLIENT WISHES A "QUOTE ONLY" YOU MUST USE THE TABLES PROVIDED. IF THEY ASK FOR MORE THAN YOU'VE QUOTED JUST LET US KNOW AND SEND A COMPLETE SUBMISSION CONTAINING EVERYTHING REQUESTED BELOW IF WE ARE TO TRY AND "BEAT THE COMPETITION".
FOR A COMPLETE SUBMISSION READY FOR FUNDING SEND THE FOLLOWING:
_____THE DISCOUNT MORTGAGE SUBMISSION SHEET COMPLETED. ESPECIALLY IMPORTANT INFORMATION ON THE PARTY MAKING PAYMENTS AND ACCURATE INFORMATION ON THE TYPE OF PROPERTY, VALUE, AND ENCUMBRANCES.
_____A COPY OF THE ORIGINAL NOTE WITH RECORD OF PAYMENTS (IF MAINTAINED) FOR THE REQUESTED DISCOUNT MORTGAGE. WE NEED TO VERIFY THE ORIGINAL AMOUNT, INTEREST RATE, STARTING AND ENDING DATE AND AGREED UPON PAYMENTS.
_____A COMPLETE COPY OF THE SUBJECT DEED OF TRUSTS OR MORTGAGE SO WE MAY VERIFY HOW TITLE WAS TRANSFERRED.
_____A COPY OF THE CLOSING STATEMENT AND/OR CONTRACT RELATING TO THE REQUESTED DISCOUNT MORTGAGE. WE NEED TO VERIFY THE ACTUAL TERMS OF THE MOST RECENT SALE REFLECTING SALE PRICE AND CASH DOWN PAYMENT.
_____FIRST MORTGAGE INFORMATION (COPIES OF NOTE AND DEED IF APPLICABLE) AND INFORMATION ON ALL OTHER MORTGAGES ON THE PROPERTY IN THE REQUESTED DISCOUNT MORTGAGE.
_____ANY PHOTOGRAPHS OF THE SUBJECT PROPERTY AND/OR A RECENT APPRAISAL (INCLUDE APPRAISER'S NAME AND ADDRESS). WE WILL ORDER OUR OWN APPRAISAL IF NONE IS AVAILABLE.
_____A COPY OF ANY TITLE INSURANCE POLICY ISSUED ON THE SUBJECT PROPERTY. SOMETIMES AN "ABSTRACT OF TITLE" MAY HAVE BEEN PREPARED. WE ARE TRYING TO VERIFY THAT THE TITLE IS CLEAR FOR US TO FILE AS LIEN HOLDER.
_____A COPY OF THE FIRE AND EXTENDED COVERAGE INSURANCE ON THE SUBJECT PROPERTY. IF NO INSURANCE IS MAINTAINED PLEASE LET US KNOW.
NOTE: PLEASE DO NOT CALL FOR QUOTES. TO QUOTE A BUY-PRICE TO YOUR CLIENT USE THE DISCOUNT MORTGAGE QUOTE TABLES IN REFERENCE MANUAL. WE WILL PROVIDE FINAL QUOTE WHEN YOU SEND YOUR COMPLETED DISCOUNT MORTGAGE SUBMISSIONS SHEET AND SUPPORTING INFORMATION AS OUTLINED ABOVE.
