October 11, 2016
REMN Wholesale is pleased to offer the service for Mortgage Brokers to request REMN prepared Initial Loan Estimates.
- REMN WS will complete your initial Loan Estimate (LE), request must be received within 24 hours of application.
- Initial disclosure package sent to the borrower(s) includes:
- Loan Estimate
- Intent to Proceed
- Settlement Service Provider List
- Affiliated Business Disclosure
- Notice of Right to Receive Copy of Appraisal
- Homeownership Counseling Disclosure
How do I submit a request for REMN to prepare the Initial LE?
Visit REMNWholesale.com and click on “Help Desk” then click on “REMN LE Requests.” Complete the form on the next page and upload required documents directly to the form:
How long does it take to prepare and deliver to the borrower?
REMN Wholesale requires completed forms as indicated above within 24 hours of application date as reflected on the 1003, or on the TRID certification, in order to meet initial disclosure timing requirements. Upon receipt, REMN will complete the request within 24 hours.
How are the documents delivered to the borrower?
REMN will send a draft LE to the requestor prior to delivery to the borrower. Once reviewed, the documents will be delivered via BlitzDocs. Please click here for additional information regarding REMN’s e-consent procedure.
There’s nowhere for me to enter title fees on the request form, how are they being disclosed?
Please review the “Important Information” on the REMN Mini-TRID Request Form. REMN will disclose standard fees in sections B and C pertaining to the applicable loan type. We will generate a quote from a national provider, Linear Title and Closing, which will also be disclosed on the Service Provider List. If your borrower chooses to use Linear, the quote will be honored. In most cases, the borrower will opt for a different provider. Once the initial LE and Service Provider List have been issued, the broker may submit a change request with a more customized title & settlement quote from a local provider of their choice.
Will you accept “TBD” properties?
Yes! REMN will require a Change Request to be submitted as soon as a property has been identified. Upon receipt of the Purchase Contract, documentation will be reviewed to ensure timing requirements are met, that is – the contract must be dated after the date of the initial LE, and within 3 days of receiving the Change Request.
What’s next? How do I submit the loan?
When REMN discloses the initial LE, the individual loan number and blitzdocs file will be created where you can view the initial disclosures as well. When ready to submit the credit package for underwriting, just upload to the loan number in the BlitzDocs file REMN created for you as “** Initial Submission Package** ” The loan set-up department will review the file and submit to underwriting. Please note: the initial submission package must include the signed Intent to Proceed from the borrower(s).
Please contact your Account Executive with any questions.