The Processing Centre processes and places loans with an appropriate FHA Investor who underwrites the loan on behalf of BORROWERS with a FHA purchase or refinance submitted by a FHA Approved Banker, Broker or Licensed Mortgage Solicitor.    620 Score Minimum   FULL LOAN PACKAGES REQUIRE  30 DAYS FOR PROCESSING, UNDERWRITING AND TO CLOSE    $450.00 Application Fee Required  LOAN <$150,000 COSTS 2PTS GFEs DISCLOSE 1.00% Origination/1.00% Discount   <580 Approve/Eligble Deduct 2.00 from YSP ALL BORROWERS MUST MAKE THEIR RENT OR MORTGAGE PAYMENTS ON TIME WHILE FINANCING ALL APPRAISALS ARE C.O.D. ONLY

Please print these FORMS to Introduce the applicants to The Processing Centre and obtain the Credit Card Authorization

NOTE: Applicants Credit Card Authorization Form for Credit report, Appraisal and Processing Fee will be sent with Loan application package.

Calyx Point:

PURCHASE FILES ONLY: In the Point file go to the TRACKER and put the contact information for the Attorney, Title Company, Closer and Insurance agent – TPC will select the Appraiser from our FHA Approved Appraisers' List and coordinate with the Originator's or Sponsor's FHA Case Number order.

REFINANCE FILES ONLY: TPC will select Title and Appraisers from the Companies approved in that jurisdiction.

Send us a PCF Point file by e-mail and  the Password to use are the numbers 1003

TPC will DU/DO or LP through the Investors AUS or E Magic

APPLICANTS PLEASE DO NOT PIECE MEAL – SEND EVERYTHING AT ONE TIME

The Processing Centre Staff will submit the loan package to the appropriate FHA investor within 60 minutes of receipt of the complete full documentation file.

The Processing Centre Staff will order the Title Report from an approved Agency, and the appraisal from the HUD Approved appraiser and supply the Originator's case number.

The Processing Centre (TPC) performs the following tasks:

• TPC STAFF reviews tri-merge credit report (Signed Credit Card Authorization Form Required for Credit and Application Fee) to qualify for the specific FHA Investor
• TPC STAFF Orders 4506T
• TPC STAFF prepares the applicants' Loan package
• TPC STAFF Receives the signed 1003, GFE, TIL and all signed disclosures
• TPC STAFF QCs bank statements, pay stubs and W-2’s and 1040s
• TPC STAFF Sends the Written Orders to Appraiser and to Title Agent
• TPC STAFF Orders the necessary VOD, VOE, VOR, Pay-offs and subordinations
• TPC STAFF AUS with E Magic, DO/DU or LP to provide the loan approval and findings
• TPC STAFF Send the complete loan package to the Investor
• TPC STAFF Clear any/all Investor conditions
• TPC STAFF Obtain new Hazard Insurance Declaration Page
• TPC STAFF and home owners review Final HUD-1 prior to closing
• TPC STAFF Coordinate closing schedule with all parties
• TPC STAFF Post Closing Quality controls and assembles an audited package for record keeping.

If you would like to contact us we are available 24/7 at 877.342.3733

PLEASE DO NOT PIECE MEAL – SEND EVERYTHING AT ONE TIME

ALL LOANS REQUIRE FULL INCOME DOCUMENTATION

With an FHA loan, you will generally be asked for documentation to support your clients’ income, liabilities, and funds to close. This documentation will establish your clients’ ability to repay the FHA home loan. The following is a list of documents that most likely will be required by the lender to process your clients’ FHA mortgage.

* Purchase Money Transaction as required by HUD:

· Purchase Contract of Sale with Real Estate Agents Contact Information

· One full month's worth of pay-stubs showing Year to Date earnings

· Last 2 years W-2's (salaried income)

· Self Employed Borrowers; Last 2 years tax returns with all schedules (commission, dividend, rental income) and letter from accountant stating he "has done their taxes for the last two years" and "knows him, her or them to be self employed for the past two years."

· Copies of social security, pension, and/or retirement award letters (if applicable)

· Last two months bank statement for all accounts with all pages

· Current statements for all investment accounts with all pages

· Written explanation for any prior late payments, paid collections or judgments

· Copy of Bankruptcy and discharge paperwork (if applicable)

· Divorce decree and any settlement paperwork (if applicable)

· Copy of your clients’ Drivers License and Social Security Cards

· Name, Address and phone number of your Landlord for the past 12 months

· Copy of your clients’ Sales Contract with Listing and Selling Agent phone Numbers

· Clear Termite Report is called for by Appraiser

· Well and Septic Certifications when city water and sewer is unavailable

* Refinances including Non FHA loans to FHA loans, Cash Out Loans:

· One full month's worth of pay stubs showing Year to Date earnings

· Last 2 years W-2's (salaried income)

· Self Employed Borrowers; Last 2 years tax returns with all schedules (commission, dividend, rental income)

· Copies of social security, pension, and/or retirement award letters (if applicable)

· Last two months bank statement for all accounts with all pages

· Current statements for all investment accounts with all pages

· Written explanation for any prior late payments, paid collections or judgments

· Copy of Bankruptcy and discharge paperwork (if applicable)

· Divorce decree and any settlement paperwork (if applicable)

· Copy of your clients’ Drivers License and Social Security Cards

· Copy of your clients’ current Mortgage coupons or statements

· Clear Termite Report is called for by Appraiser

· Copy of your clients’ Homeowners insurance

· Copy of your clients’ Survey (only applies in survey states)

For FHA Streamline Refinances the following documentation may be required:

· Copy of your clients’ current Note

· Copy of the First Two pages of your clients’ mortgage or Deed of Trust

· Copy of your clients’ Drivers License and Social Security Card

· Copy of your clients’ Homeowners insurance

· Copy of your clients’ Survey (only applies in survey states)

· Copy of your clients’ current Mortgage coupons or statements

Upon receiving your client’s documentation The Processing Centre, Inc. will handle acquiring other documentation such as title reports, credit reports and appraisals if required from your resource base. It is required that the borrower pays for the cost of the appraisal Cash At The Door.

PLEASE DO NOT PIECE MEAL – SEND EVERYTHING AT ONE TIME

The Processing Centre processes for Bankers, Brokers and Mortgage Solicitors.   WE NEED FHA ORIGINATORS  Register Today for FHA VA Conventional and Jumbo Loan Origination Access in 48 States.  Call 877 FHA FREE (342 3733)   Great FHA Mortgage Training! #1 rated training program for loan officers, processors and operations. Updated May 2008  Click here for the details