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Berkshire Lending, LLCFile Retention – Brokered and Mini Correspondent LoansYour Branch Office must be in compliance for HUD audits and state license examinations.Audits are fairly routine and simple provided you comply with our guidelines and policies.Failure to adhere to HUD and state policies may result in Branch Office termination, loss ofHUD approval, and state license revocation including fines/penalties.It is imperative that a complete copy file be retained to be in compliance on all closed,denied, rescinded and withdrawn loans regardless of loan type or program. HUD Handbook4000.2 REV-2, Paragraph 5-10, states that the Originating Mortgagee must retain theentire case file pertaining to Loan Origination.Every loan file (includes closed, denied, rescinded, withdrawn) must be uploaded to theCalyx Point Server. In addition, a single complete PDF file of the supporting documentationper the FILE RETENTION STACKING ORDER CHECKLIST must be uploadedthrough “Upload Copy File” at www.BerkshireLending.com in Loan Central.Supporting documentation is not required to be uploaded through the Document Storagefeature in Calyx Point for file retention purposes. The Calyx Document Storage feature isoptional for File Retention, however, if utilized; a single complete PDF file of the supportingdocumentation per the FILE RETENTION STACKING ORDER CHECKLIST mustSTILL be uploaded through the “Upload Copy File” feature at www.BerkshireLending.comin Loan Central.Berkshire Lending will use the checklist below to determine compliance with the fileretention requirements. Files that do not adhere to the FILE RETENTION STACKINGORDER CHECKLIST will not be accepted and may cause delays in payroll. Documentsmust be uploaded within 7 days of funding and no later than title/lender check cut-off timefor the applicable pay period.Updated: 07/05/2011
Berkshire Lending, LLCFILE RETENTION STACKING ORDER CHECKLISTToday’s Date: Branch No. Loan Officer Name:Borrower Last Name: Borrower First Name:Property Address: City:State: Zip: Lender:Date: (check one) Funded Denied Rescinded WithdrawnClosing Documentation: (All Loan Types) File Retention Stacking Order ChecklistFinal Signed HUD-1Settlement ChecksTitle Disbursement Ledger and ReceiptsClosing InstructionsDeed of TrustNoteMortgageWarranty DeedPUD RiderRiders (VA/FHA/PUD)Act of Cash SaleClosed End Fixed Rate Note (HECM)Closed End Fixed Rate Second Note (HECM)Closed End Fixed Rate (HECM) Mortgage/Deed of TrustClosed End Fixed Rate (HECM) Second Mortgage/Deed of TrustRecordation/Recording ReceiptNotice of Right to Cancel (refinance)Final/Signed 92900-LT (signed, dated or CHUMS ID)Final/Signed/Dated Typed FNMA1003 / FNMA 1009 (must be signed by LO)Final/Signed/Dated 92900-A (page 3 must be signed, dated or CHUMS ID)Final/Signed/Dated Truth-in-LendingClear copy of Driver’s License / valid picture ID for all borrowersClear copy of Social Security Card for all borrowersIncome Documentation: (All Loan Types) VOE (dated on or after loan application date)Current Paystubs (covering a 30 day period)W-2’s / 1099’s for most recent two yearsPersonal tax returns for two yearsIf self-employed: business returns for two years, all schedules, all pagesIncome Calculation WorksheetDivorce Decree/Child Support documentation (if applicable)Bankruptcy papers with schedules and Discharge (if applicable)Updated: 07/05/2011
Berkshire Lending, LLCAsset Documentation: (All Loan Types) Current bank/asset/retirement statements covering a 60 day periodDocumentation regarding large deposits, if anyVOD (dated on or after loan application date)Gift LetterDonors ability to give giftVOR (dated on or after loan application date)Contract/Appraisal/Escrow/Title: (All Loan Types) Purchase/Sales Agreement (fully executed)FHA Amendatory Clause agreement/Real Estate Certification (FHA only)92800.5B Conditional Commitment/Addendum Appraisal Report (signed by U/W w/CHUMS ID)Final Inspection and InvoiceAppraisal with photos and market analysis sheet (FHA only: inspection dated on or after date case # ispulled)Appraisal InvoiceRental survey / operating income statement (investment properties only)Subterranean Termite Treatment Builder’s Certification and Guarantee Form NPCA-99a (required on allnew construction, and less than 1-year old existing properties)Warranty of Completion Form 92544Builder’s Certification of Plans, Specifications and Site Reports, Form 92541, 10-Year HOW-WarrantyAgreement, State Licensed Engineer’s Report and Termite must match the date of the Sales Contract,Loan Transfer Letter (if applicable)Evidence of Insurance (Declaration Page)Flood CertificateCopy Earnest Money and receiptTitle Commitment and Title InvoicesInsured Closing LetterTitle Company’s Wiring InstructionsHOA certificationTax CertificationPreliminary HUD-ISurvey and InvoicePayoff Information (HUD-1, DOT, NOTE, etc)Copies Checks and/or Money Orders Received from the Borrower (Identify Appraisal, Credit, Other)Invoice and Reports (pest inspection (termite), home inspection, repairs, etc) If it is showing on the FinalHUD-1 (seller or borrower) we must have in the retention file.Signed Disclosures & Authorizations: (All Loan Types) Lock ConfirmationLock ExtensionLoan Approval Notification / Investor ApprovalCredit Report (dated on or after borrower credit authorization)Credit Explanation Letters / Documentation4506 T (signed by borrower(s) and dated within 30 days from submission)Updated: 07/05/2011
Berkshire Lending Initial Handwritten 1003 / FNMA 1009 (signed and dated by borrowers & LO)Initial 92900-A (Must have Branch Address, Branch HUD ID & NMLS - 4 pages)Initial 92900-LTGFE 2010 (dated within 3 business days of application)Service Provider ListAUS FindingsTransmittal Summary (1008)GFE Provider RelationshipTruth In Lending (dated within 3 business days of application)Initial Fees Worksheet (With every TIL disclosed - dated on the TIL date)Receipt of GFE (initial)Receipt of TIL (initial)Intent to ProceedChange Circumstance Notification (within 3 business days of receiving the information)Affiliated Business Arrangement DisclosureLender Fee WorksheetBorrower Signature AuthorizationBorrowers’ Certification and AuthorizationServicing Disclosure StatementCredit Score Information DisclosureEqual Credit Opportunity Act Disclosure (ECOA)Fair Lending NoticePrivacy Policy DisclosureMortgage Loan Origination AgreementPatriot Act DisclosureDisclosure NoticesFlood Disaster Protection Act of 1973Flood Hazard NoticeNotice of Applicant Right to Receive Copy of AppraisalAnti-Steering Safe Harbor DisclosureFact Act Credit Score and Risk Based Pricing DisclosuresPrivate Mortgage Insurance Disclosure – Adjustable Rate MortgagesPrivate Mortgage Insurance Disclosure – Fixed Rate MortgagesFBI Mortgage Warning NoticeTangible Net Benefit DisclosureARM disclosure notice, if ARMReceipt of CHARM Booklet (if ARM)Other applicable program specific disclosures: (All Loan Types) State Specific Disclosures Lender Specific Disclosures Loan Shield Print-OutFHA Only: (Additional Documents) FHA Case Number AssignmentClear CAIVRSClear LDP/GSA reportsHUD 92564 - For Your Protection Get a Home InspectionUpdated: 07/05/2011
Berkshire Lending HUD Assumption Notice – Release of LiabilityHUD Appraised Value DisclosureHUD Energy-Efficient Mortgage Fact SheetHUD Informed Consumer Choice Disclosure NoticeHUD 92900B - Important Notice to Homebuyers (2pgs)HUD/FHA Identity of Interest CertificationReceipt of HUD Settlement BookletHUD Lead Based Paint (signed by all borrowers), if build prior to 1978VA Only: (Additional Documents) VA Certificate of Eligibility (VA Form 26-8320 or VA Form 26-8320a)VA Request for Determination of Eligibility (VA Form 26-1880)HUD/VA Addendum to URLA (VA Form 26-1802a)VA Debt Questionnaire (VA Form 26-0551)VA Federal Collection Policy Notice (VA Form 26-0503)VA Interest Rate and Disclosure StatementVA Assumability Disclosure (VA Form 26-8978)VA Request of Certificate of Veteran Status (VA Form 26-8261a)VA Loan Analysis w/CAIVRS (VA Form 26-6393)VA Request for Certification of Reasonable Value (VA Form 26-1805)IRRRL Worksheet (VA Form 26-8923)VA Verification of Benefit-Related Indebtedness/SIGNED (VA Form 26-8937)VA Rate Reduction CertificationVA Loan Summary Sheet (VA Form 26-0286)VA Report and Certification of Loan Disbursement (VA Form 26-1820)VA Counseling Checklist for Military Homebuyers (VA Form 26-0592)VA Request for Verification of Employment (VA Form 26-8497)VA Request Verification of Deposit (VA Form 26-8497a)VA Right of VA Loan Borrowers (VA Form 26-8978)Warranty of Completion of Construction (VA Form 26-1859)Builder’s Certification of Plans, Specifications and Site Reports, (Form VA-1859), 10-Year HOW-WarrantyAgreement, State Licensed Engineer’s Report and Termite must match the date of the Sales Contract,Loan Transfer Letter (if applicable)VA Option ClauseChild Care CertificationStatement of Nearest Living RelativeActive duty certificationClear CAVIRSClear LDP/GSA reportsUSDA Only: (Additional Documents) Clear CAIVRSClear LDP/GSA reportsGUS FindingsRD Form 1980-21, Request for Single Family Housing Loan GuaranteeRD Form 1980-18, Conditional Commitment for Single Family Housing GuaranteeUpdated: 07/05/2011
Berkshire LendingReverse Mortgage Only: (Additional Documents) POA Documents (if applicable)Trust Documents (if applicable)Grant Deeds, Quitclaim Deeds, etcPayoff Demands (if applicable)Death Certificate (if applicable)HECM Mortgage Loan Agreement (Closed End)Nearest Living Relative InformationCertificate of HECM CounselingList of Counseling AgenciesHUD Counseling DisclosureFace to Face Waiver CertificationReverse Mortgage Repair AcknowledgementRepair Set Aside Worksheet (if applicable)Bids for any required work (if applicable)Reverse Mortgage ComparisonBenefits Summary – HECM FixedHECM CalculationsAmortization ScheduleEstimate Closing Cost WorksheetTotal Annual Loan CostImportant Terms DisclosureExcessive Fees DisclosureTax & Insurance DisclosureOccupancy CertificationAcknowledgement of Receipt of Miscellaneous DisclosuresGeneral DisclosureBorrower’s NotificationECOA Notice / FCRA Notice / USA Patriot Act / Fair Lending NoticePrivate Well and/or Septic NoticeRight to Financial PrivacyBankruptcy StatementAnnuity DisclosureAnti-Coercion StatementNotice of Availability of Real Estate AppraisalAnti-Churning (if applicable)Updated: 07/05/2011
(VA Form 26-8261a) VA Loan Analysis w/CAIVRS (VA Form 26-6393) VA Request for Certification of Reasonable Value (VA Form 26-1805) IRRRL Worksheet . (VA Form 26-1859) uilder's ertification of Plans, Specifications and Site Reports, (Form VA-1859), 10-Year HOW-Warranty
