Loan Document Coordination Checklist

Post-NAR-settlement, most states now require a written buyer representation agreement before showing property. Confirm it is fully executed and the compensation terms match what the buyer's agent will request from the listing side. File in Dotloop or SkySlope.

Full legal name, SSN, DOB, two-year residence and employment history, and authorization to pull credit. The TC routes this to the loan officer via the lender's secure portal — never email SSN as plain text or unencrypted PDF.

Two most recent pay stubs, two years of W-2s, and two years of federal returns for salaried borrowers. Self-employed borrowers need two years of personal and business returns plus a YTD P&L. Gift funds require a signed gift letter with donor relationship and source.

Conventional, FHA, VA, USDA, and jumbo each trigger different overlays, appraisal requirements, and timelines. VA and FHA appraisals especially affect timing — capture this early so the CTC calendar reflects reality.

Cross-check stated income, employer, and addresses against pay stubs, W-2s, and credit report. Discrepancies between stated and verified income are the most common underwriting kickback at conditional approval.

The lender pulls Experian, Equifax, and TransUnion; the middle score governs qualification. Flag any disputes, recent inquiries, or collections that need letters of explanation before underwriting sees them.

Conventional caps typically at 45% back-end (50% with compensating factors); FHA stretches to 56.9% with AUS approval; VA uses residual income alongside DTI. Confirm the calculated ratio leaves room for taxes, insurance, and HOA on the subject property.

A pre-approval letter is not underwritten — it is a soft assessment. Track pre-approval, conditional commitment, and clear-to-close as three separate milestones so the buyer's agent never assumes the loan is safe when it is still in setup.

TRID requires the lender to deliver the LE within three business days of a complete application (the six 1003 items). Capture the LE in the transaction file and confirm fees match what the LO quoted — variances outside tolerance trigger a revised LE and reset.

Until the borrower indicates intent to proceed in writing, the lender cannot charge fees beyond a credit report. Save the dated communication — email or e-sign acknowledgment — to the loan folder.

If the brokerage, lender, or title company share ownership, RESPA Section 8 requires a signed ABA disclosure and the buyer must be free to shop. A missing or unsigned ABA is a frequent compliance audit citation.

The lender orders through an appraisal management company to satisfy HVCC independence rules. FHA and VA require panel appraisers and have stricter property condition standards — flag chipping paint on pre-1978 homes before the appraiser arrives.

A low appraisal triggers the appraisal contingency: renegotiate price, buyer brings the gap in cash, request a reconsideration of value with new comps, or terminate. Coordinate the response with the buyer's agent before the contingency expires.

Draft the amendment that captures the resolution — price reduction, buyer cash to close the gap, ROV submission, or termination with EMD release. Get signatures before the appraisal contingency deadline, not after.

Read Schedule B-II line by line — easements, restrictive covenants, mineral rights, unreleased liens. Send anything that affects use or marketability to the buyer's attorney or to the title officer for curative work before clear-to-close.

Income, assets, credit, appraisal, title, and purchase contract go to the underwriter in one bundle. Piecemeal submissions add days to the timeline and risk missing the financing contingency.

Conditional approvals typically list prior-to-doc and prior-to-funding items: updated VOE, asset sourcing letters, homeowners insurance binder, HOA estoppel. Work the list daily — stale conditions are the top reason closings slip past the contingency date.

Check whether clear-to-close will land before the financing contingency expires. If not, request an extension in writing before the deadline — never let the contingency pass and assume the seller will be reasonable.

Use the state-specific addendum form. Get the buyer to sign first, then submit to the listing agent with the lender's status update attached so the seller has a reason to grant the extension.

Coordinate buyer, seller, both agents, title or escrow, and any required attorneys. Confirm in-person vs. mail-away vs. remote online notarization (RON), which the lender must approve and not all states permit.

TRID requires the borrower to receive the Closing Disclosure at least three business days before consummation. APR shifts beyond tolerance, loan product changes, or a prepayment penalty added all reset the three-day clock — confirm none have occurred since the LE.

Wire fraud is the single largest loss vector in residential closings. Call the title or escrow office at a number you independently verified — not the one in the email — and read back the routing and account before the buyer sends cash to close. Coach the buyer to do the same.

Confirm the note, mortgage or deed of trust, ALTA Settlement Statement, signed CD, and all state-required disclosures are executed and stored in the brokerage system. Complete file review unlocks the commission disbursement authorization.