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How To Join Our Network Upon approval, you will be provided a User ID and Password in order to obtain information such as rates, forms, etc. located on our website. You will also be provided (via email and regular mail) an original Loan Submission Form, Rate Lock Form, Closing Funding Order Form and Contact Listing. These forms have been customized for you and will indicate your ID number and other important information. Using these forms will greatly speed up the time in getting your loan information into our system. The Contact Listing will indicate which Account Executive will be servicing your account as well as which Underwriting Team will be working on your loans. All new loan submissions should be delivered to newloans@uwmco.com (including our Submission Form on the top). All loan conditions including the appraisal should be sent to conditions@uwmco.com (including our Submission Form on the top). Rate Locks can be done on our system. Once our Secondary Department has reviewed and approved your lock they will fax you back a copy of the fully executed lock request. A customer must upload their loan into our system via Xcelerator. Note that the loan file must always be delivered to us via Xcelerator with a loan submission form on the top in order for it to be set up and passed onto your assigned Underwriter. All loans received after 3:00 p.m. will be considered next day deliveries. Our Approval Letter is broken down into several sections:
As the conditions are cleared, they are removed and placed on the bottom of the approval letter. In order to obtain a Clear to Close on your loan, the conditions must be met as well as the loan locked. In addition, the hazard insurance, payoffs, title commitment and Closing Protection Letter must also have been cleared. Your Closing Order can be performed using our Fly Docs and must be completed before your loan will be released to the Closing Department. The earliest you may close your loan is 24 hours from the time the loan is cleared to close or Fly docs are completed, the later of the two. Our Closers will prepare your title prep package which includes the HUD, Closing Instructions and any documents necessary to complete the HUD and forward to the title company that you selected. The title company will any additional fees and return the HUD back to the Closer for final approval. When final approval is given and the HUD is finalized the complete closing package will be released to the title company. During the closing the title company must send us a copy of the necessary executed documents required on our "Authorization to Disburse" form. We will review the items provided and upon approval of all items a Funding Number will be issued authorizing the title company to disburse the loan. All funds are wired to the title company and will be available on the day of disbursement. |
