The Ultimate Mortgage Lead & Loan Process Checklist

Call lead within 1 hour

Send text message if not reached

Send email with request for phone appt

Add lead to CRM

Email/text referral source to thank them

Start automated lead email sequence

Team member calls lead to get online application

Send thank you email or card to referring party

Introduction call to build rapport and request they complete the online application

Call 3-4x on day 1 until you reach them

Call again on day 2 if not reached

Call again on day 3 if not reached

Call again on day 4 if not reached

Call again on day 5 if not reached

ONCE REACHED...

Email follow-up to conversation with video introduction

Interview client (assess needs/pain)

Determine if they'll apply and how (phone, online, in-person)

Add "Note" in CRM w/ details of your conversation

Send introduction email to all parties

Send docs needs list via email, or add to Floify and send docs request

Pull credit

Review 1003 for completion

Open a new email and start a checklist of missing information from 1003

Send "missing info" email to client

Begin processing/underwriting cover letter

Prepare Disclosures

Mark LE as disclosed in system

Send disclosures per client's preferred method

Scan any documents/disclosures with wet signatures

Update referral source that application has been completed

Send handwritten thank you card to client

Mail welcome letter with biz card(s)

Send introduction video

Send "Meet My Team" email or video

Update CRM with relevant notes

Send client link to Smartphone App - (Don't have an app? We like www.simplenexus.com)

Review documentation to ensure everything was received

ASSET STATEMENTS

Did they send 2 months bank statements with all pages?

Is anyone else on the statements that needs to sign a 100% access letter?

Are there any large deposits that need sourcing? If yes, then collect:

Copy of the cancelled check(s)

Letter of explanation

Any other relevant documentation to explain deposits (ex. bill of sale)

PAYSTUBS

Did they provide paystubs covering the most recent 30-days?

Are there any garnishments on the paystubs?

Does the YTD Income match up to the hourly wage X 40 hours X 52 weeks / 12 months? In other words, are they averaging 40 hrs per week?

Do they have any bonus or overtime income that may be usable?

If yes, find out if there's a 2-year history

W2's

Does the W2 income for the past 2 years line-up with what's on the tax returns?

TAX RETURNS

Are there any 2016 expenses?

Is there Schedule C or Schedule F income?

SELF-EMPLOYED?

Did they provide 2 years K1's?

If K1's show more than 25% ownership in the business, did they provide 2 years business tax returns?

Are there any, "Notes Payable" due in less than a year?

RETIREMENT INCOME

Did they provide a Social Security Award Letter?

Did they provide a Pension Statement (all pages) with terms of pension payments?

ALIMONY/CHILD SUPPORT

If they receive alimony and/or child support, did they provide a complete copy of the divorce decree?

Did they provide proof of receipt of the 3 most recent payments?

If paying, did they provide proof that payments are current?

DIVORCE

Did they provide a COMPLETE copy of their stamped as filed divorce decree?

VA LOANS

Did they provide a copy of their DD214?

BANKRUPTCY

Did they provide a complete copy of their bankruptcy paperwork?

Did they provide a copy of the stamped discharge letter?

GIFT

If receiving a gift, did you request a gift letter? Did they provide it?

FORECLOSURE

Did they provide the foreclosures discharge paperwork?

Scan client documentation into system

Update 1003 with information gathered from client docs

Send "docs received" video to client and agent(s)

Email client to request missing or additional documentation

Update CRM with relevant notes

Review Loan Partner notes

Double-check income calculations

Continue adding notes to UW cover sheet

Look-up pricing for loan options

Price PMI if applicable

Create Mortgage Coach Edge report

Run AUS

Go over loan options with client and provide cost summary

Call client to go over options or schedule an in-person meeting to go over them

Send email to processor with all supporting documentation and cover memo

Tell borrower what they qualify for

Email client to educate them about loan disclosures and next-steps

Update CRM with relevant notes

Send a pre-approval letter to client and their agent

Send congratulatory gift to clients place of employment

Make sure client knows what they're pre-approved for

Call agent to go over terms of pre-approval

If no agent, refer to one of your partners

Start email drip campaign to stay in touch and educate the client about the process

Send "Do's and Don'ts" email or "10 Commandments" email

Call or text client every Friday

Call or text real estate agent weekly

Order tax transcripts

Order VOE's

Submit to Underwriter

Provide customized pre-approval letter when they're ready to make an offer

Update CRM with relevant notes

Updated 1003 with details of purchase agreement

Review contract for missing pages or addendums

Rerun AUS

Email real estate agent to confirm price, terms, dates, contact info, etc.

Add real estate agents to your CRM

Add important notes to CRM

Order loan disclosures and send to client via their preferred method

Send letter of introduction to listing agent

Call listing agent to congratulate them and let them know you'll stay in touch

Contact client to discuss rate and try to lock them

Send hand-written card to referral source

Send client congratulatory gift

Review client documentation and request updated docs if needed

Team orders Appraisal, Title, VOEs, Tax Transcripts and Supporting Docs

Pull property profile

Pull county property taxes

Contact escrow company for fee estimate

Send email to real estate agents reminding them of the need for carbon monoxide detectors, smoke detectors and hot water straps

Email video to client that covers what happens next

Schedule appointment with client to meet to sign disclosures

Submit all client documentation to loan processor

Update all parties that contract has been received

Update CRM with relevant notes

Set face-to-face appointment to review and sign disclosures

Inform all parties that disclosures were ordered

Send email with video to client explaining this step and next-steps

If signing remotely, remind borrower to get them back to you ASAP

Order appraisal as soon as possible when turn-times are long

Finish the processor/underwriter cover letter and submit with disclosures order

Update CRM with relevant notes

Inform all parties that appraisal has been ordered

Remember to check for due dates and update all parties

Send video to agent and borrower that appraisal was ordered and explains this step in the process

Inform listing agent of appraisal ordered

Add notes to deal in CRM

Ask real estate agents to let you know when they hear from the appraiser

Update all parties with status and approximate timeline

Send video email to client explaining this step

Set proper timeframe expectations

Prepare client for the possibility of further documentation needed upon loan approval (set expectations)

Update CRM with relevant notes

Review conditions keeping an eye out for UW misunderstandings

Look for UW conditions for documentation that was already submitted...and inform UW they already have it

Email client list of new conditions, explain "why" you need them and express time-sensitivity for returning them

Update both real estate agents with status

Email with video to agents and client that "Loan is approved!"

Add any important notes to CRM

Send "Moving Package" to borrower

Check on vendor status (title, escrow, insurance, etc)

Inform buyer of next step in the process, setting proper expectations

Update CRM with relevant notes

Review for repair conditions and value

Make sure appraisal reflects correct sales price and loan program

Email client a copy of the appraisal and ask for reply to confirm receipt

Update both real estate agetns to inform them the appraisal is in, if there are conditions and whether the value was sufficient

Send email with video to client informing them of next-steps

Update CRM with appraised value and any relevant notes

Update all parties that file is resubmitted for final approval

Update CRM with relevant notes

Set reminder to check for CTC in 2-3 days

Ensure all PTD conditions are submitted

Send updated UW cover letter

Email all parties with CTC update

Send video email to client with update and next-steps

Set proper timeline expectations with all parties for final steps

Schedule closing with escrow/attorney/etc and client

Call client to congratulate them and ask for referrals

Update CRM with relevant notes

Email all parties with CD is out update

Compare CD to LE and explain any key differencs to borrower

Call client to go over CD

Email, call or text client to request that they acknowledge and/or sign the CD asap

Email instructions for closing and how to bring cash-to-close

Update CRM with relevant notes

Send email update to all parties and include verification of signing date, time and location

Confirm cash to close, compare to CD and ensure borrower has correct amount

Update CRM with relevant notes

Find out what day clients are moving and offer to have pizza delivered (take their order)

Review settlement statement

Call client and congratulate them

Call both real estate agents

Send email to client asking for online reviews

Initiate "post-closing" email campaign

Update CRM with relevant notes

Send handwritten thank you card

Send FB friend request (if good client)

Send handwritten letter to listing agent thanking them for a good transaction and requesting a meeting

Set reminder to follow-up with listing agent in 4-5 days to set meeting

Call referral source and thank them again

Contact buyer's agent and thank them for a good transaction

Advertise "another loan closed" on FB and other social media