Vanceo Default Process v18.10.19.00 (September 2018)

The Vanceo Default Process v18.10.19.00 marks the initial launch of the Vanceo product. This Vanceo process introduces the first default process available to users. The following functionality has been released with this process.

Stages

  • Application

  • Processing

  • Underwriting

  • Closing

  • Post Closing

Tasks
Table 1. Task List
Credit Application ATR / QM / HOEPA / HPML Testing
Flood Determination Credit Report
Interest Rate Locking Product Selection Pricing
Early Disclosures Intent to Proceed
Identification Verification Submit to HMDA
Submit to Automated Underwriting System Submit to CRA
Income Verification Title Search
Tax IRS 4506T Verification Appraisal
Liability Verification Verification of Employment
Verification of Assets Mortgage Insurance Certificate
Flood Insurance Policy Homeowner’s Insurance Policy
Preliminary Underwriting Send to Underwriting
Underwriting Mortgage Insurance
Flood Insurance Homeowner’s Insurance
Clear to Close Closing Disclosures
Funding Closing
MERS Custody Servicing Transfer
Recorded Security Instrument UCD Upload
ULDD Upload