The Ultimate Mortgage Lead & Loan Process Checklist (Copy)

Click each task to expand a list of sub-tasks.

1. New Lead Received

2. Application Completed

3. Client Docs Received

6. Contract Received

10. UW Approved

16. Loan Funded

1. New Lead Received

1

Call lead within 1 hour
2

Send text message if not reached
3

Send email with request for phone appt
4

Add lead to CRM
5

Email/text referral source to thank them
6

Start automated lead email sequence
7

Team member calls lead to get online application
8

Introduction call to build rapport and request they complete the online application
9

Call 3-4x on day 1 until you reach them
10

Call again on day 2 if not reached
11

Call again on day 3 if not reached
12

Call again on day 4 if not reached
13

Call again on day 5 if not reached
14

ONCE REACHED...
15

Add on facebook
16

Email follow-up to conversation with video introduction
17

Interview client (assess needs/pain)
18

Determine if they'll apply and how (phone, online, in-person)
19

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

2. Application Completed

1

Pull Credit
2

Review 1003 for completion
3

Open a new email and start a checklist of missing information from 1003
4

Prepare fees
5

Request Disclosures
6

Download wet sign disclosures and attach to email
7

Write processing/underwriting cover letter and add to checklist as needed
8

Update referral source that application has been completed
9

Mail welcome letter with biz card(s)
10

Update CRM with relevant notes

3. Client Docs Received

1

Review documentation to ensure everything was received
2

ASSET STATEMENTS
3

Did they send 2 months bank statements with all pages (even blank ones)?
4

Is anyone else on the statements that needs to sign a 100% access letter (non-borrowers)?
5

Are there any large deposits that need sourcing (50% of monthly income or more)?
6

If yes, provide documentation and letter to support
7

PAYSTUBS
8

Did they provide paystubs covering the most recent 30-days?
9

Are there any garnishments on the paystubs?
10

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?
11

Do they have any bonus or overtime income that may be usable?
12

If yes, find out if there's a 2-year history (Order WVOE or get last paystub of previous 1-2 years)
13

Last two years W2's
14

Does the W2 income for the past 2 years line-up with what's on the tax returns?
15

TAX RETURNS
16

Are there any 2106 expenses (unreimbursed employee expenses)?
17

Is there Schedule C or Schedule F income?
18

SELF-EMPLOYED?
19

Did they provide 2 years K1's?
20

If K1's show more than 25% ownership in the business, did they provide 2 years business tax returns?
21

Are there any, "Notes Payable" due in less than a year?
22

RETIREMENT INCOME
23

Did they provide a Social Security Award Letter?
24

Did they provide a Pension Statement (all pages) with terms of pension payments?
25

ALIMONY/CHILD SUPPORT
26

If they receive alimony and/or child support, did they provide a complete copy of the divorce decree?
27

Did they provide proof of receipt of the 3 most recent payments?
28

If paying, did they provide proof that payments are current?
29

DIVORCE
30

Did they provide a COMPLETE copy of their stamped as filed divorce decree?
31

VA LOANS
32

Did they provide a copy of their DD214?
33

BANKRUPTCY
34

Did they provide a complete copy of their bankruptcy paperwork?
35

Did they provide a copy of the stamped discharge letter?
36

GIFT
37

If receiving a gift, did you request a gift letter? Did they provide it?
38

FORECLOSURE
39

Did they provide the foreclosures discharge paperwork?
40

Scan client documentation into system
41

Update 1003 with information gathered from client docs
42

Email client to request missing or additional documentation
43

Update CRM with relevant notes

6. Contract Received

1

Updated 1003 with details of purchase agreement
2

Review contract for missing pages or addendums
3

Rerun AUS
4

Email real estate agent to confirm price, terms, dates, contact info, etc.
5

Add real estate agents to your CRM
6

Add important notes to CRM
7

Order loan disclosures and send to client via their preferred method
8

Send letter of introduction to listing agent
9

Call listing agent to congratulate them and let them know you'll stay in touch
10

Contact client to discuss rate and try to lock them
11

Send hand-written card to referral source
12

Send client congratulatory gift/card
13

Review client documentation and request updated docs if needed
14

Team orders Appraisal, Title, VOEs, Tax Transcripts and Supporting Docs
15

Pull property profile
16

Pull county property taxes
17

Contact escrow company for fee estimate
18

Send email to real estate agents reminding them of the need for carbon monoxide detectors, smoke detectors and hot water straps
19

Submit all client documentation to loan processor
20

Update all parties that contract has been received
21

Update CRM with relevant notes

10. UW Approved

1

Review conditions keeping an eye out for UW misunderstandings
2

Look for UW conditions for documentation that was already submitted...and inform UW they already have it
3

Email client list of new conditions, explain "why" you need them and express time-sensitivity for returning them
4

Update both real estate agents with status
5

Add any important notes to CRM
6

Check on vendor status (title, escrow, insurance, etc)
7

Inform buyer of next step in the process, setting proper expectations
8

Update CRM with relevant notes

16. Loan Funded

1

Call client and congratulate them
2

Call both real estate agents
3

Send email to client asking for online reviews
4

Initiate "post-closing" email campaign
5

Update CRM with relevant notes
6

Send handwritten thank you card
7

Send handwritten letter to listing agent thanking them for a good transaction and requesting a meeting
8

Set reminder to follow-up with listing agent in 4-5 days to set meeting
9

Call referral source and thank them again
10

Contact buyer's agent and thank them for a good transaction
11

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

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