Reminders, Updates and Housekeeping?

Tuesday, June 2^nd. 2009

 

To all MetLife Approved Brokers

 

 

Reminders, Updates and Housekeeping?

 

Loan Submission

 

♦   To avoid delays when submitting your loan package to Metlife, remember:

 

1-   to Register/Submitted loan through via Pronto

2-   Print the Pronto Submission Sheet and place in loan submission package

Too many loans are being delayed for these missing items

 

Ordering HVCC Appraisals

 

♦   Be sure to let me know when you order your

HVCC Appraisal via Pronto

 

♦   Susan McDonald and I want to be sure all goes smoothly

and there are no unnecessary delays ... especially with Purchases

 

♦   Good idea to save each screen as you go along

 

♦   Especially important is the contact information for the appraiser

and it might be prudent to print this screen as well

 

When might Desk, Field, Enhanced Reviews be required?

Including but limited to the following:

 

♦   Appraisal indicates * declining, softening, decreasing, distressed, slow etc., over supply, marketing time over 6 months or verbiage as indicated in appraisers narrative

* If declining value must have 3 comparables within 90 days of underwriters review

 

♦   DO/DU Findings indicates "Red Flag" possible excessive value

 

♦   Large adjustments to comparables

 

♦   these requirements also include VA, FHA and USDA appraisals 

 

Age of Documents

 

♦    Credit Report 90 days at final approval / 120 days at closing/funding 

 

♦    Credit Documents 120 days at closing/funding

 

♦    Title 90 days at closing/funding

 

♦    Appraisals no more than 120 days at closing/funding

 

For now Aloha

 

Everything is subject to change and improvement without prior notice

and is for use by MetLife Approved Brokers only.

Rita Kama-Kimura

Wholesale Account Representative

(808)  275-8006  direct

(808)  864-0520  cellular

 

 To maximize communication it's wise to "Reply to All"

 

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