Vanceo Default Process v2019.04.07.02 (May 2019)
The Vanceo Default process v 2019.04.07.02. The following functionality has been included in this Vanceo Default process provided by Wolters Kluwer.
Stages
- Application
- Processing
- Underwriting
- Pre-Closing
- Closing
- Post-Closing
Decisions
- Intent to Proceed
- Loan Decision
Tasks
| Credit Application | Credit Report |
| Product Selection & Pricing | Interest Rate Locking |
| ATR / QM / HOEPA / HPML Testing | Tax IRS 4506T Verification |
| Early Disclosures | Send Confirmation of Withdrawn Application |
| Preliminary Underwriting | Mortgage Insurance Certificate |
| Homeowner’s Insurance Policy | Income Verification |
| Verification of Assets | Liability Verification |
| Abstract Update | Title Search |
| Appraisal | Receive and Review Appraisal |
| Copy of Appraisal Sent to Party | Flood Determination |
| Flood Insurance Policy | Identification Verification |
| Mortgage Insurance | Homeowner’s Insurance |
| Deed-GW-Declaration of Value | Septic System Update |
| Verification of Employment | Mechanics Lien – Exceptions |
| Underwriting | Flood Insurance |
| Notice of Action Taken | Submit To HMDA |
| Initial Closing Disclosures | Closing Documents |
| Funding | Wire Funds |
| Auto Transfer Notice – Coupon Book | Recorded Mortgage Received |
| Revised Closing Disclosures | Insurance Expiration |
| Final Abstract | Final Title Opinion |
| UCD Upload | ULDD Upload |
| Submit to CRA | Submit to Automated Underwriting System |
