Getting Comfortable: quick facts to start

• Tell me briefly what brought you to seek a mortgage or refinance right now.
• Are you pursuing this for a purchase, a refinance, or both? Options: Purchase, Rate-and-term refinance, Cash-out refinance, Not sure yet
• Which of these best describes the property you are targeting? Options: Primary residence, Second home, Investment property, Unknown
• When would you ideally like to have a pre-approval or rate locked? Options: Within 48 hours, Within 1 week, Within 2–4 weeks, Flexible / no firm date
• Do you already have a real estate agent, financial advisor, or attorney helping with this transaction? Options: Real estate agent, Financial advisor, Attorney, No one yet, Other
• Is there any reason you could not provide proof of income, bank statements, and authorization to pull credit within 48 hours? Options: No, I can provide within 48 hours, I can provide within 5 business days, I need help collecting documents, There is a legal restriction or privacy concern

Why timing matters more than it looks

• What would fall apart in your purchase if pre-approval took two more weeks than you expect?
• How would a one- or two-week delay affect your housing plans, moving schedule, or finances? Options: Minor inconvenience, Could miss the house, Significant financial impact, Unsure
• Who else is constrained by your timeline, for example an employer, family move, or seller deadlines?
• If appraisal or underwriting introduced a surprise, which outcome would you prefer: renegotiate price, bring more cash, or withdraw? Options: Renegotiate price, Bring additional funds, Switch loan product, Withdraw from purchase
• Which timeline outcome would make you walk away from this transaction entirely? Options: Closing after offer deadline, Significant rate increase, Major underwriting condition, Other

Credit, cash, and paperwork — the reality check

• What's the single credit or documentation gap that worries you most about qualifying?
• When was the last time you checked your credit score, and what range did it show? Options: Within 30 days: 760+, Within 30 days: 700–759, 30–90 days: 640–699, Over 90 days or unknown
• Do you already have paystubs, W-2s or tax returns, and recent bank statements ready to share electronically? Options: All documents ready, Most documents ready, a few missing, Need help gathering documents, Prefer not to share yet
• Who currently manages the gathering of financial documents for you, and can they respond quickly if we request additional items? Options: I manage it, My agent/advisor manages it, A family member handles it, I need to designate someone
• Select the assets you plan to use toward down payment or reserves. Options: Checking/savings accounts, Investment accounts, Gift funds, Retirement accounts, Sale of current home, Other

Obstacles that can stop a closing

• Tell me about the one recent financial change that could stop an approval.
• Have you had any large deposits or account transfers in the last 60 days that will need source documentation? Options: No large deposits, Yes, personal transfers that are documented, Yes, pending transfers not documented, Not sure
• Identify the people who must sign loan disclosures or give authorization, and their typical availability.
• If the appraisal comes in low, which path would you prefer first: renegotiate, bring more cash, or change the loan product? Options: Renegotiate with seller, Bring additional cash, Seek a different loan program, Other
• Rate your confidence that home inspection findings or contract contingencies will not create new closing delays. Options: Very confident, Somewhat confident, Not confident, Unsure

Other paths you're weighing

• Name the lenders, brokers, or bank options you are actively getting quotes from, and why you are considering each.
• Explain what would have to be true about your current lender or your DIY option for you to stay with it instead of switching.
• Has anyone on your side proposed handling approval without an outside lender, and who would be responsible for that approach? Options: Yes, I or family would handle, Yes, my agent suggested DIY, No, not suggested, Not sure
• Select the reasons that matter most when choosing between the options you are evaluating. Options: Lowest rate, Speed to close, Certainty of closing, Lowest fees / closing costs, Loan officer responsiveness, Existing relationship
• Identify a single short-term guarantee or proof that would make you switch lenders this week.

Operational readiness: systems, documents, and constraints

• Describe any approvals, vendor restrictions, or systems that could block timely access to documents or verifications.
• Can your title company, escrow officer, or agent provide contact details and authorization so we can order appraisal and title work immediately? Options: Yes, contacts are ready, Contacts available but need authorization, No, not yet engaged, Unsure
• Does your employer, income source, or contract work require special verification that could slow underwriting? Options: No special verification, Commission or variable income, Self-employed or 1099, Foreign employer or complex payroll
• List any third-party systems, portals, or APIs we will need to access or integrate with to obtain documents or verifications.
• Are there legal, HOA, power-of-attorney, or title restrictions that would prevent closing within your target timeline? Options: No restrictions, Yes, resolvable within timeline, Yes, likely to delay closing, Unsure
• Choose the internal people on your side who can commit to gathering documents and responding to lender questions within standard timelines. Options: Borrower(s) only, Borrower + agent, Borrower + attorney, Designated representative

Preferences, trade-offs, and communication

• Decide which matters most to you right now: lowest possible rate, smallest closing costs, or highest certainty of closing. Options: Lowest rate, Smallest closing costs, Highest certainty of closing, Balance of the three
• Describe how involved you expect to be in collecting documents and answering underwriting questions during the process. Options: Very involved, Moderately involved, Minimal involvement, I prefer the loan officer to lead
• List the people we should copy on status updates and their preferred contact method. Options: Email, Phone call, Text message, Secure portal message, Other
• Explain your fallback plan if underwriting requires a higher down payment or additional reserves.
• Choose when you want a direct call rather than an email: rate quote, appraisal issue, underwriting condition, closing logistics. Options: Rate quote, Appraisal issue, Underwriting condition, Closing logistics, Never require a call

Decision and next steps to maintain momentum

• Assuming we can deliver a pre-approval within 48 hours, would you be ready to proceed with the application and credit pull? Options: Yes, proceed now, Yes, after reviewing loan options, Not yet, need more time, Unsure
• Name the single condition or assurance that would make you sign to move forward this week.
• Please list any key decision makers who must approve before you sign, and their typical availability for a short call.
• Pick the preferred next step to keep momentum: start application, receive a formal quote, schedule a live call, or pause to gather more quotes. Options: Start application, Receive formal quote, Schedule live call, Pause to compare quotes
• Estimate the earliest date you can provide signed authorization to pull credit and income verification. Options: Within 24 hours, Within 48 hours, Within 5 business days, More than 1 week

• Loan Options Walkthrough

• Confirm the current state and its cost
• You confirm which loan program best fits your eligibility, timeline, and cash constraints.
• Prepare and deliver a written loan comparison worksheet showing the chosen scenario, alternative scenarios, estimated rates, and closing cost breakdown.
• Provide the buyer's most recent income documentation, asset statements, and the target property details needed to confirm eligibility and finalize Loan Scope.
• Quick mortgage timeline orientation (only if helpful)
• You confirm the estimated rate, monthly payment, and closing cost range for the chosen scenario.
• Run your scenario, program by program
• You agree on the next concrete steps and the timeline to proceed into Loan Scope and rate lock.
• Confirm the preferred rate-lock window and the decision deadline for locking rates.
• Compare rate and closing cost scenarios
• Validate the recommended option and next steps
• Confirm decision points and timeline to lock

• Loan Options Walkthrough
• Loan Options Deck
• Loan Options Solution Brief

• meeting
• slides
• document

• Issue mortgage pre-approval letter
• Provide rate quote and loan estimate
• Lock interest rate and confirm lock terms
• Collect and verify borrower documentation
• Order and manage property appraisal
• Order title search and deliver title commitment
• Underwrite loan and issue approval
• Assemble closing package and settlement statement
• Prepare and deliver closing disclosure
• Fund loan and disburse closing proceeds
• Process payoff of existing mortgage
• Set up post-closing loan servicing account
• Package program-specific loan documents (jumbo/FHA/VA/USDA)

Issue mortgage pre-approval letter

• For which transaction types do you need a pre-approval letter (purchase, rate/term refinance, cash-out) and which should be prioritized? Options: Purchase, Rate/term refinance, Cash-out refinance, All of the above
• Which loan programs should be included on the pre-approval (conventional, FHA, VA, USDA, jumbo) when you request the letter? Options: Conventional, FHA, VA, USDA, Jumbo, Other
• How long should the pre-approval letter validity period be for your offers (number of days)? Options: 30 days, 45 days, 60 days, Custom
• Which specific borrower artifacts do you want attached or referenced on the pre-approval (credit report, preliminary debt-to-income, bank statements, employment snapshot)? Options: Credit report, Preliminary DTI calculation, Recent bank statements, Employment summary, None
• How should you and your agent receive the pre-approval letter (secure portal, emailed PDF, printed copy at branch)? Options: Secure portal notification, Email PDF, In-person/printed copy, Other

Provide rate quote and loan estimate

• Which loan scenarios do you want rate quotes for when you begin shopping (purchase with specified down payment, refinance with cash-out amount, rate/term)? Options: Purchase (you provide down payment %), Rate/term refinance, Cash-out refinance, Compare multiple scenarios
• Which rate displays do you prefer when you view a Loan Estimate (locked rate, best-available float estimate, APR comparison)? Options: Locked rate estimate, Float estimate range, APR comparison, All of the above
• What credit score bands should we model for your quotes (enter bands you use to price loans)? Options: 720 and above, 680-719, 640-679, Below 640, Custom bands
• How detailed should the closing cost breakdown be on the Loan Estimate for your review (itemized fees, lender-bundled fees, both)? Options: Fully itemized, Bundled lender fees, Both itemized and bundled view
• When you compare quotes, what tolerance threshold for lender fees triggers a review (e.g., fee variance percent)? Options: 0% (exact), Up to 5%, Up to 10%, Custom

Lock interest rate and confirm lock terms

• Which lock window lengths do you want available when you request a lock (e.g., 15, 30, 45 days) for your scenario? Options: 15 days, 30 days, 45 days, 60+ days, Custom
• What float-down options, if any, do you require when you lock a rate for your loan? Options: No float-down, Single float-down with fee, Unlimited float-down within window, Custom
• Who can authorize or change a rate lock in your process (you, your agent with written authorization, the lending team) and how should authorization be captured? Options: You via e-sign, You via written email, Agent with written authorization, Lending team authorization
• What evidence will validate the rate lock for your records and operational handoff (confirmation number, signed rate-lock agreement, dated rate confirmation)? Options: Rate lock confirmation number, Signed rate-lock agreement PDF, Dated confirmation email, All of the above
• How should rate lock cut-off times be handled for your files on the lock day (specific clock time or end-of-business)? Options: Vendor market cut-off time, End of business day local time, Custom agreed-upon time

Collect and verify borrower documentation

• Which core borrower documents do you require at application intake (Uniform Residential Loan Application/URLA, credit report authorization, government ID)? Options: URLA (1003), Credit authorization, Government-issued ID, Social Security proof, Other
• How many months of bank statements and which account types do you need from the borrower for asset verification? Options: 1 month, 2 months, 3 months, Business and personal accounts
• What employment and income artifacts must you collect for salaried and self-employed borrowers (recent pay stubs, W-2, federal tax returns, profit-and-loss)? Options: Recent pay stubs, W-2 forms, 2 years federal tax returns, Year-to-date profit-and-loss, Other
• Which methods do you accept for third-party verifications (Verifier of Employment VOE vendor, automated asset verification, manual documentation)? Options: Automated asset verification, VOE vendor report, Manual employer VOE, Tax transcript
• What file types and delivery methods do you accept for borrower documents (secure upload portal, encrypted email, e-sign package)? Options: Secure upload portal, Encrypted email, E-sign package, In-person/physical copies

Order and manage property appraisal

• Which appraisal products do you require for different loan types you originate (full interior appraisal form, exterior-only, appraisal waiver eligibility)? Options: Full interior appraisal (Form 1004), Exterior-only, Appraisal waiver when eligible, Desktop appraisal
• How quickly do you need appraisal delivery for purchase files to meet your closing timeline (turnaround in business days)? Options: 3-5 business days, 6-10 business days, 10+ business days, Custom SLA
• Which appraisal inspection requirements do you expect for specific property types you handle (single-family, condo project review, manufactured home)? Options: Single-family interior, Condo project review, Manufactured home inspection, Multi-family appraisal requirements
• How should appraisal deficiencies or value shortfalls be escalated and documented for your review (appraisal rebuttal, second appraisal order, borrower credit)? Options: Appraisal rebuttal/clarification, Order a second appraisal, Require borrower down payment increase, Negotiate purchase price
• What payment handling do you prefer for appraisal fees on your files (collected upfront from borrower, billed at closing, paid by lender)? Options: Collected upfront from borrower, Billed at closing, Paid by lender, Other

Order title search and deliver title commitment

• Which title search turnaround do you require to keep your timelines on track (days to title commitment)? Options: 3 business days, 5 business days, 7+ business days, Custom
• What specific title policy endorsements or coverage amounts must appear on the title commitment for your loans (standard lender policy, endorsements for condominium, survey coverage)? Options: Standard lender policy, Condo project endorsement, Survey/acreage endorsement, Increased coverage amount
• Which exceptions on a preliminary title commitment are acceptable to you and which require removal prior to clear-to-close? Options: Minor utility easements acceptable, Judgment liens must be cleared, Mechanics liens require payoff, All exceptions reviewed case-by-case
• How should you receive the title commitment and associated documents (digital title package, PDF via portal, emailed commitment)? Options: Digital title package in portal, PDF emailed to you, Hard copy upon request
• Who should we contact at the title provider for exception resolution and closing coordination and what are the preferred contact details?

Underwrite loan and issue approval

• Which automated underwriting system (AUS) result thresholds do you accept as the basis for a recommend approval (accept/approve/eligible findings) for your loan programs? Options: Approve/Eligible AUS findings, Refer with caution allowed, Manual underwrite required, Custom overlays
• What underwriting SLA do you expect from application to conditional approval for standard purchase loans (number of business days)? Options: 1-2 business days, 3-5 business days, 6-10 business days, Custom
• What credit, income, and asset thresholds will you enforce as underwriting gates (minimum FICO, maximum DTI, minimum reserves) for scope decisions?
• How do you want outstanding underwriting conditions tracked and escalated when they jeopardize closing dates (condition aging alerts, owner assignment, daily report)? Options: Condition aging alerts, Daily underwriting report, Manual escalation to team lead, Other
• What constitutes final underwriting approval for your files (AUS findings, clear title commitment, acceptable appraisal, signed intent to proceed)? Options: AUS accept/eligible, Clear title commitment, Appraisal at or above contract price, All required documents received

Assemble closing package and settlement statement

• Which documents must you see assembled in the closing package before scheduling (note, mortgage, initial escrow instructions, deed, Closing Disclosure)? Options: Promissory note, Deed of trust/mortgage, Initial escrow instructions, Final Closing Disclosure, All of the above
• How should final settlement statement math be validated for your review (automated audit, manual review, third-party settlement agent confirmation)? Options: Automated settlement audit, Manual review by operations, Third-party settlement agent confirmation
• What delivery method do you require for signed closing documents (electronic notarization, wet-ink delivered to title, hybrid)? Options: Electronic notarization, Wet-ink at title company, Hybrid e-sign + final wet-ink
• Who must sign off on the assembled closing package before funding and how should that sign-off be captured? Options: Underwriter sign-off in system, Operations manager approval, Automated clear-to-close flag, Other
• What documents will validate that the closing package is complete for your compliance records (signed note, recorded deed, final title policy)? Options: Signed promissory note, Recorded deed or reconveyance, Issued final title policy, Final Closing Disclosure

Prepare and deliver closing disclosure

• Which delivery method do you require for the Closing Disclosure (CD) to the borrower to satisfy the three-business-day review window? Options: Electronic delivery with receipt, Hand-delivered print, Mail with tracking, Other
• What triggers in your workflow require a CD redisclosure and re-waiting period (changes to APR, new fee tolerance breaches, loan product changes)? Options: APR change triggers redisclosure, Tolerance-triggering fee changes, Loan product or term changes, Other
• How should you handle tolerances on the CD vs Loan Estimate for fee categories when preparing final numbers (zero tolerance, 10% cumulative, lender credits)? Options: Zero tolerance items enforced, 10% cumulative tolerance for some fees, Apply lender credits to avoid redisclosure
• Who should confirm the borrower's receipt and acknowledgement of the CD and what acknowledgement artifact do you accept? Options: Electronic receipt & timestamp, Signed acknowledgement form, Verbal confirmation logged, Other
• What additional settlement instructions must be included on the final CD for your originating channel (payoff of seller, prorations, escrow holdbacks)?

Fund loan and disburse closing proceeds

• Which funding methods do you accept for disbursing closing proceeds (wire transfer to title company, cashier's check, ACH) on the funding date? Options: Wire transfer to title, Cashier's check, ACH (restricted)
• What funding cutoff times on the scheduled day do you require to meet recording deadlines (time of day in local time)? Options: 10:00 AM local, 2:00 PM local, End of business day
• How are funding holds or post-fund conditions reflected for your team when funds are transferred but recording is pending (funded with holdback, conditional funding release)? Options: Funded with specified holdback, Conditional release upon recording, No holdback allowed
• Which wire or remittance instructions must be validated before you release funds (title company wire instructions with verification call, certified escrow account details)? Options: Verified wire instructions via phone, Title company secure portal, Standard escrow account details
• How should you receive confirmation of successful funding and disbursement for your records (funding statement, wire confirmation, recorded documents)? Options: Wire confirmation, Funding statement PDF, Recorded document confirmation

Process payoff of existing mortgage

• Which payoff statement formats and data points do you require from the existing servicer to process a payoff (payoff amount, per diem, pay-off date)? Options: Payoff amount with per diem, Payoff with exact pay-off date, Full statement with account number
• How many business days before closing do you need the final payoff demand to be obtained and verified? Options: 1-2 business days, 3-5 business days, 5+ business days
• What steps should be taken if the existing mortgage has a prepayment penalty or outstanding subordinate liens (obtain payoff quote, negotiate release, require payoff at closing)? Options: Obtain payoff quote with penalty, Require release of subordinate lien, Negotiate payoff terms
• Who will confirm and authorize the payoff wiring instructions and what verification method is required to prevent fraud? Options: Verbal confirmation with servicer, Portal-verified payoff instructions, Encrypted email confirmation
• How do you want stale payoffs or outdated payoff amounts handled on or after the funding date (re-request from servicer, hold funding until confirmed)? Options: Re-request from servicer, Hold funding until confirmed, Use adjusted per diem calculation

Set up post-closing loan servicing account

• When should the loan servicing account be created relative to funding (day of funding, next business day, after recording)? Options: Day of funding, Next business day, After recording
• Which escrow account items must be set up on your servicing platform at conversion (property taxes, homeowners insurance, flood insurance if required)? Options: Property taxes, Homeowners insurance, Flood insurance, Reserve for PMI/MIP
• What payment methods and frequency options do you require to be enabled for borrowers in servicing (monthly autopay, online portal, paper statements)? Options: Monthly autopay, Online portal payments, Paper statements, Phone payments
• How should transfers of servicing or investor reporting be documented and what artifacts do you need (transfer notice, investor account mapping)? Options: Transfer notice to borrower, Investor account mapping file, Servicing transfer checklist
• What borrower communications are required post-close and on what cadence (welcome packet, first payment notice, escrow analysis)? Options: Welcome packet within 7 days, First payment notice, Annual escrow analysis, Custom cadence

• Loan Commitment Letter
• Rate Lock Authorization
• Intent to Proceed
• Loan Estimate & Disclosure Acknowledgement
• Third-Party Services & Appraisal Authorization
• Title & Escrow Provider Confirmation
• Electronic Signature & Communications Consent
• Privacy Notice & Data Sharing Consent

• Go-live Health Check (week 1-4 post-close)
• First Measurement — Post-Close Outcomes (week 4-10)
• Acceptance Gate — Post-Close Closeout (around day 90)

• Compile a short lessons-learned note with recommended process changes for the origination and servicing teams.
• Correct any escrow accounting errors and circulate an updated escrow statement to the buyer.
• Re-run the post-close borrower survey after remediation to measure improvement in satisfaction.
• Document one process change to prevent the most common root cause identified during the meeting.
• Restate agreed acceptance criteria
• Produce a documented acceptance result showing pass or conditional pass per acceptance criterion recorded in Loan Scope.
• List and time-box remediation items for any failed criteria with verification steps.
• Capture final borrower satisfaction score and at least two specific lessons learned for process improvement.
• Publish the acceptance summary stating pass/conditional pass per criterion and circulate to stakeholders.
• Execute the remediation tasks for any unmet criteria and provide evidence of completion by the agreed dates.
• Archive closing documents and confirm servicing handoff is marked complete in records.
• Re-confirm post-close responsibilities
• Funding confirmation recorded in the loan file and any funding exceptions documented.
• Servicing account and first-payment details provided to the buyer and verified.
• All critical open issues identified with owners and target resolution dates.
• Confirm wire receipt and post confirmation to the loan file.
• Provide the buyer with servicing account number, payment timing, and portal access instructions.
• Open remediation tickets for any title, payoff, or escrow holds and record target resolution dates.
• Send the post-closing borrower feedback survey to the buyer for completion within 7 days.
• Present outcome metrics
• Determine whether days from closing to funding confirmation is within expected range or requires remediation.
• Reduce open post-close servicing issues with documented tasks and completion dates.
• Confirm next survey cadence and plan to improve borrower satisfaction where needed.
• Create a remediation plan listing each open servicing issue, a target completion date, and verification step.
• Verify funding and recording
• Diagnose gaps and root causes
• Present final outcome data
• Agree corrective actions and timelines
• Validate servicing transfer and borrower account setup
• Document acceptance decision
• Surface early open issues
• Confirm escrow and insurance account accuracy
• Agree closure actions for any failed criteria
• Capture borrower feedback and improvement items
• Agree immediate remediation actions