Loan Estimate Issued by the Broker
PLEASE REFER TO THE BELOW INSTRUCTIONS IF YOU PLAN TO ISSUE THE LOAN ESTIMATE (LE) TO YOUR BORROWER.
- The broker prepares the initial disclosure documents and the initial Loan Estimate (LE) without identifying JMAC Lending as the lender (leave it blank).
- The broker delivers or mails out the LE and initial disclosure documents to the borrower within three (3) business days.
Note: A signed Intent To Proceed form is required on all files prior to any service order other than the credit report. *Intent To Proceed form MAY NOT be signed and dated prior to the LE.
ONCE READY TO SUBMIT
- The broker uploads the point file (FNM 3.2 or Calyx). For directions on this step, please click HERE.
- The broker registers the loan. For directions on this step, please click HERE.
- The broker provides JMAC Lending with all required TRID documents (signed & dated initial 1003, Loan Estimate, and Service Providers List). For directions on this step, please click HERE.
- JMAC Lending's disclosure desk will conduct a compliance review to ensure the timeliness and accuracy of the provided TRID documents.
- If the compliance check fails, the disclosure desk will notify the broker of any errors and/or compliance issues.
- Important: the loan package will not be reviewed or submitted to underwriting in the event of compliance failure.
- If the compliance check passes, the disclosure desk will issue a revised LE with JMAC Lending as the lender to the borrower, and proceed with submission to underwriting.
6. The broker notifies the submission desk by resolving the task to submit the loan. For directions on this step, please click HERE.