1. Mortgage Origination Flow
Community Bank
Loan Officer (“CLO”)
<6 items
(1)
Receive interest
from prospect
Provide prequalification
to prospect
Take information
from prospect
Red Diamond Home Loans, LLC (“RDHL”)
6 items or more
(1)
Provide LE / Initial
Disclosures to CLO
for delivery to prospect
Complete application on
RDHL system
Within
3 days
Upon intent to proceed
Collect documentation
& deliver file to RDHL
Process, underwrite,
close & fund loan
Perform other
origination services
borrower name, social security number,
property address, monthly income,
house value or estimate and amount
of the loan