1. Sierra Pacific Mortgage Correspondent Process Flow
August 15th, 2013

2. Process Process Flow Seller originates loan and issues all disclosures
including TIL
Seller logs into Sierra Pacific Website
Register Loan
Run DU
Lock Loan
Order Appraisal
Upload Underwriting Package

3. Process Process Flow continued Loan Set Up (SPM)
Seller disclosures reviewed
Seller advised of missing documentation or compliance issues
Underwriting
Issues disposition
Seller submits conditions
Clear to close issued – No prior to funding conditions

4. Process
Process Flow-continued (blue highlighted different to wholesale)
- Closing
Seller requests closing docs from Sierra Pacific or a Sierra Pacific approved provider
Seller or fulfillment service provider approves HUD-1 and requests wire
Closed Loan Submission to Dallas CLD center
Seller or fulfillment service uploads closed loan package

5. Process Process Flow continued
Warehouse bank submits collateral package to Correspondent Operations in Dallas
Loan Purchase Process
Pre-Purchase Auditor audits closed loan file
Compliance
Closing documents
Closing conditions

6. Process Process Flow continued
Pre-Purchase Auditor communicates the conditions to Seller
Seller uploads conditions
Pre-Purchase Auditor purchases loan
Wire is sent to Seller’s warehouse bank
Purchase Advice is provided to Seller