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In The Know - April 2018

Apr 26, 2018 | Delegated, Correspondent

At Home Point Financial, our goal is to deliver an exceptional service experience for our clients through open communication. When you have questions, we have the answers you need.

          • Did you know that with the Point (Home Point Financial’s web-based client portal), delegated correspondents will soon be able to:

                    • Lock instantly via a Quick Commit feature

                    • Upload conditions individually or in bulk

          • Example of interesting features delegated correspondents will soon be able to enjoy:

                    • Greater transparency of loan progress

                              ▫ Loan progress indicator

                              ▫ Visibility of collateral receipt and clearing

                              ▫ Enhanced turn time postings

          • Important UCD Update: In preparation for the Agency Uniform Closing Dataset (UCD) mandate, Home Point Financial (HPF) began conditioning for the UCD file on all conventional loan closing packages sent on or after April 2nd, 2018

                    • Highlighted Requirements:

                              ▫ Applies to conventional loans with Note dates on, or after, September 25, 2017, only

                              ▫ Correspondents are required to submit their UCD files to both Agencies and provide Home Point Financial with proof of a successful submission by including a copy of both the UCD Findings Reports with the closed loan package

                              ▫ Home Point Financial will require the Last Submission Date on the Fannie Mae UCD Findings and the Date/Time Evaluated on the Freddie Mac UCD Feedback Certificate to be dated on or after the latest CD Date issued

                              ▫ For more UCD requirements, contact us today