May 8, 2017
REMN Wholesale is pleased to announce enhancements to BlitzDocs which provide additional email notifications for corresponding actions throughout the loan process.
Loan Setup
Once the Loan Set-Up Department is in receipt of the following items, the Broker will be notified that the loan is Sent for LE Review:
- FNM 3.2 file uploaded to the Broker Portal
- AUS findings uploaded to the Broker Portal
- Initial Submission Package uploaded to BlitzDocs
Upon completion of the initial Loan Estimate (LE) Review, the Opener will change status in Blitzdocs and Broker will receive notification for either one of the following:
- Missing Docs – When critical documents are missing from the Initial Submission Package
- Broker must upload missing docs to BlitzDocs as Opening Trailing Docs
- Broker must change status in BlitzDocs to Re-submit to Setup/Opener to notify the Opener there are additional documents for review.
- Submit to UW – the loan has been submitted for Underwriting
Closing
Once the loan has been cleared from Underwriting, the Underwriter will change status in Blitzdocs and Broker will receive notifications as follows:
- In Closing –the loan has been assigned to a Closer
- Docs Out – the Closing document package has been sent to Settlement Agent
- In Funding (Wet States) – after the wire has been sent out, but funding conditions have not been provided
- In Funding(Dry States) – after receipt of some, but not all funding conditions required to approve the funding authorization and missing items needed from broker and/or settlement agent have been communicated
- Broker must upload required documentation for funding as Funding Conditions
- Broker must then change status in BlitzDocs to Submit Funding Conditions
- Funded – after final funding/disbursement authorization has been sent to Settlement Agent
For further detail, please visit www.REMNWholesale.com, Resources, Training Material, BlitzDocs Glossary. If you have any questions, please contact your Account Executive.