PURCHASE | Next Steps Email | After App [Incomplete] | NO Credit Check | NO Supporting Docs | Create Info Analysis | Send Info Analysis by Email [or BB] | Follow up with clients for Q&A
Use this template for existing clients if we suspect they might not qualify for their desired needs or the clients desire preliminary information to help them decide on a course of action and/or eligibility before they start the prequalification process.
NOTE: If we decide to do an info analysis, we ONLY do so for existing clients for whom we have updated info [might be incomplete and unverified], previous credit, etc. on file.
NOTE: We DO NOT do analysis for new applicants or applicants that we have never closed a mortgage for.
NOTE: As a rule we DO NOT complete any mortgage analysis without have all the applicants accepted, primary support docs on file and neither do we send our analysis to applicants before or without reviewing the analysis with the applicants in a review meeting. Therefore, creating or sending an info/preliminary analysis to applicants is done by exception ONLY.
Purchase | Clients | After App | Consent & Docs List Next | Options Review
- Who [MA]: Licensed person.
- To: Clients
- Purpose: Next steps & update clients
- When:
- After app taken from clients
- Before sending consent form or supporting docs list
Purchase | Clients | After Options Review [Pre-qualified]
Note:
Applicants are “Pre-qualified” if [inconclusive notes]:
- Mortgage Allies received, reviewed and accepted all of the applicants’ primary supporting documents and we have checked their credit and their credit is acceptable.
- A licensed Mortgage Allies member has internally successfully matched the applicant’s known requirements to a lender’s mortgage program.
- We have completed an analysis, reviewed it with the clients and they seem to want to proceed with a purchase.
- If the future mortgage might be insured or insurable the application is submitted for pre-approval to the most likely future lender – If the lender issues pre-approvals
- We don’t issue Pre-qualification letters to applicants unless requested by the clients.
- Sender [MA]: Licensed person only.
- To: Clients
- Purpose: Notify the applicants they are pre-qualified and provide them with copies of their reviewed docs [If they are not pre-qualified use a different email template].
- When:
- After the Options review meeting if the applicants are pre-qualified.
- After clarifying/verifying any of the applicants’ unanswered questions with the lender
- After additional analysis was completed if requested during the Options review meeting.
Purchase | Clients | Mortgage Approved | Request Consent to Order Appraisal
- Description: Email the clients to update them and request consent to order the appraisal and determine which borrower will be paying for the appraisal
- Sender [MA]: Licensed person
- To: Clients
- Purpose: Update clients, request consent to order the appraisal, determine which borrower will be paying for the appraisal
- When:
- After mortgage approval
- After successful review of the commitment and determining that no other conditions prohibit the mortgage from proceeding
- Before ordering the appraisal
Purchase | After COF Review [Waive COF] | Signature Review Next
- Description: We completed a COF review, no amendments required, but the clients want to review their mortgage documents in a meeting before signing them documents.
- Sender [MA]: Licensed person.
- To: Clients
- Purpose: Update clients
- When:
- After COF review meeting
- Before the Signature review meeting invitation
Purchase | After Final Review | Signatures Next
No Notes
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