“LITEFILE” SUBMISSION OPTION TO FACILITATE EARLY DISCLOSURE
Effective immediately, all brokers are eligible to submit “Litefiles” to REMN. The purpose of a Litefile submission is to meet the initial disclosure requirements of the MDIA. Once a Litefile is received by REMN, we will mail out initial disclosures to the borrower within one business day. We will email you a notification upon our mailing out of the disclosures (along with a copy). The three-day waiting period will begin upon our mailing of the disclosures. Once the three days have elapsed, fees can be charged and collected from the borrower. Litefiles must be submitted to the following email address: litefiles@remn.com.

A Litefile submission consists of the following documents, which must be accurately completed in their entirety:

1. REMN Submission Cover Sheet with Litefile indicated as Submission Type.

2. Fully completed Loan Submission Addendum Page (Please make sure the BAP is calculated correctly).

3. Fully completed 1003 signed by borrower and interviewer.

4. Broker generated GFE, TIL and Itemization.

5. Credit reports for all borrowers.

6. Borrower Certification and Authorization Form.

7. REMN Broker Compensation And Fee Certification.

OPTION TO REQUEST EARLY RE-DISCLOSURE

Currently, REMN checks to ensure compliance with MDIA APR and fee tolerances only once the loan is cleared from underwriting, which can result in inconvenient delays if re-disclosure is necessary due to broker initiated fee or mortgage amount changes. However, effective immediately, you can request that our TIL Team (TILT) re-disclose to the borrower at any point PRIOR to the loan being cleared from underwriting. Early re-disclosure can greatly decrease the time between clearance from underwriting and closing.

Early re-disclosure requests must be made by Requesting a New TIL. (also available in the “I Want To” menu above)

If you have any questions, please contact your AE.

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