Underwriter Summary Page 2
This feature is not available in Encompass Broker Edition.
Use Page 2 of the Underwriter Summary to enter additional information about the underwriting process, including the underwriter name, key dates in the process, and additional information needed to determine the creditworthiness of the borrower. Some of the information on the form will already be completed using data entered on other loan forms.
Underwriter Summary Page 2
-
In the upper portion of the form, enter tracking information, and dates related to the underwriting process.
-
If the loan has been suspended, enter related comments in the Suspended Reasons field.
-
If the status of the loan has changed, select an Action Taken from the list, and then enter the date when the action occurred.
-
When a lender receives a loan application, they have 30 days to accept the application. This deadline is the Regulation B Date. If there is missing documentation or the process is put on hold, the timeline pauses. When all documentation is received, the timeline resumes. Use the Regulation B section to document any changes to the Regulation B timeline.:
-
Enter information regarding the automated underwriting system (AUS).
-
Enter comments related to Strengths, Concerns, Credit, Appraisal, and Exceptions.
Credit Information
Enter information from the credit report, including past due, bankruptcy, and foreclosure details.
- In the "# of Days" fields, type the number of times that a payment was late for each time segment. For example, if Experian reported two payments that were 60 days late, enter 2 in the Experian/# of 60 Days field.
Investor Information
Enter the Name, Grade, and Score for up to three investors that the loan may be sold to in the secondary market.
Appraisal Information
Enter appraisal information for the original appraisal and appraisal review.
FNMA Information
-
Enter Flood Zone Info, including the name of the flood insurance company and certificate number.
-
Enter Property Info, typically found on the title report.