Default Document Requests

Modified on Wed, 18 Mar at 6:52 PM

Overview

Document Requests are the items borrowers (or internal teams) are asked to provide during the loan process. These documents help verify income, assets, property details, and other key information needed to move the loan forward.

Your system is configured with a set of default document requests that are automatically triggered based on information in the loan file (like income type, property type, or credit details).

This article explains what those default requests are and when they are sent.

Condition Name	Condition Description	Progress Item	Name	Verbiage	Skillset(s)	Trigger(s)
Sufficient Assets for Closing and Reserves	Ensure the borrower has adequate liquid assets to cover down payment, closing costs, and any required reserves.	Assets	Upload Bank Statements	Please upload a copy of all pages of the most recent _____ months statements for the following accounts:_____. Be sure to include all pages for all statements. Assets in the amount of $____ must be verified to cover closing costs and reserves (if required).	Borrower	Checking/Savings account included on the URLA
Sufficient Assets for Closing and Reserves	Ensure the borrower has adequate liquid assets to cover down payment, closing costs, and any required reserves.	Assets	Verification of Gift Funds	Please provide a fully completed and signed gift letter executed by an acceptable donor in the amount of $________. Provide proof of the donor's access to these funds and the transfer to the borrower.	Borrower	Gift funds are included on the URLA
Sufficient Assets for Closing and Reserves	Ensure the borrower has adequate liquid assets to cover down payment, closing costs, and any required reserves.	Assets	Proceeds from Sale of Home	Please provide the Closing Disclosure for the sale of _______________ evidencing net proceeds of no less than $	Borrower	Sale of REO is noted on the URLA
Sufficient Assets for Closing and Reserves	Ensure the borrower has adequate liquid assets to cover down payment, closing costs, and any required reserves.	Assets	Retirement/Investment Account Verification	Please provide all of the following for your retirement accounts(s) located at: __________: (1) Most recent quarterly statement (or most recent 2 months of statements) (2) Terms of withdrawal; (3) Proof of liquidation in the amount of $_________.	Borrower	Retirement accounts listed on URLA
Regulatory and Legal Adherence	Verify compliance with all legal, regulatory, and program-specific requirements, including document execution and approvals.	Closing	Signed Tax Returns	Borrower(s) to sign and date all tax returns provided	Closing Desk	Borrower is self-employed
Condo-Property Eligibility and Valuation	Confirm the property meets all requirements for eligibility, including its valuation, condition, and adherence to loan program guidelines.	Project & HOA	Condo-Insurance - Flood	Flood insurance policy with adequate coverage ($250,000 per unit or coverage must equal replacement cost as listed by flood insurance provider). Must evidence the number of units being covered to match loan file or specifically list the subject unit. HOA must be listed as the insured.	Project Approval Desk	Property is a condominium
Condo-Property Eligibility and Valuation	Confirm the property meets all requirements for eligibility, including its valuation, condition, and adherence to loan program guidelines.	Project & HOA	Condo-Insurance - HO6	Provide coverage, as determined by the insurer, sufficient to repair the condo unit to at least its condition prior to a loss claim event and must list Intercontinental Capital Group ISAOA as loss payee.	Borrower (request)	Property is a condominium
Condo-Property Eligibility and Valuation		Project & HOA	Condo-Insurance - HO6		Project Approval Desk (review)	Property is a condominium
Creditworthiness Assessment	Evaluate the borrower’s credit history and payment behavior to determine their ability to manage financial obligations.	Credit	Bankruptcy Papers	Please provide a complete set of Bankruptcy Papers including the discharge of debtors.	Borrower	Bankruptcy is noted on the credit report or in the borrower's declarations
Creditworthiness Assessment	Evaluate the borrower’s credit history and payment behavior to determine their ability to manage financial obligations.	Credit	HELOC Termination	Please provide evidence that your HELOC with ____ has been frozen and closed.	Borrower	Credit report shows a HELOC that is open and is attached to the subject property and is not listed as to be subordinated
Creditworthiness Assessment	Evaluate the borrower’s credit history and payment behavior to determine their ability to manage financial obligations.	Credit	Photo ID	Please provide legible UNEXPIRED copy of photo ID for each applicant	Borrower	All loans
Creditworthiness Assessment	Evaluate the borrower’s credit history and payment behavior to determine their ability to manage financial obligations.	Credit	Liabilities Excluded	Please provide satisfactory documentation to support the omission from your total monthly liabilities of TBD	Borrower	Open credit report liability is shown as excluded from ratios
Creditworthiness Assessment	Evaluate the borrower’s credit history and payment behavior to determine their ability to manage financial obligations.	Credit	Verification of Rent	Please provide the most recent 12 months canceled checks (front and back) evidencing satisfactory rental payment history	Borrower	Borrower has indicated that they rent their current home
Stable and Documented Income	Confirm the borrower’s income meets the program’s stability and sufficiency requirements for qualification.	Closing	4506C	Borrower to execute a 4506C for all personal and business returns used to qualify	Closing Desk	Self employment income is listed on the URLA
Stable and Documented Income	Confirm the borrower’s income meets the program’s stability and sufficiency requirements for qualification.	Income	Lease Agreement	Please provide a copy of the current lease agreement for:	Borrower	Application indicates rental income
Stable and Documented Income	Confirm the borrower’s income meets the program’s stability and sufficiency requirements for qualification.	Income	Most Recent Paystubs	Please provide your two most recent paystubs reflecting year to date earnings	Borrower	Application indicates W-2 income
Stable and Documented Income	Confirm the borrower’s income meets the program’s stability and sufficiency requirements for qualification.	Income	Pension Income	Please provide your most recent Pension Award Letter evidencing income as stated on the application and proof that it will continue for 3 years.	Borrower	Application indicates pension income
Stable and Documented Income	Confirm the borrower’s income meets the program’s stability and sufficiency requirements for qualification.	Income	Social Security/Disability Income	Please provide your most recent Award Letter evidencing income as stated on the application and proof that it will continue for 3 years	Borrower	Application indicates Social Security/Disability income
Stable and Documented Income	Confirm the borrower’s income meets the program’s stability and sufficiency requirements for qualification.	Income	Tax Returns-Personal	Please provide a copy of your last two years' signed 1040's. Must include all schedules.	Borrower	Application indicates self-employed income
Stable and Documented Income	Confirm the borrower’s income meets the program’s stability and sufficiency requirements for qualification.	Income	IRS Form W-2	Please provide your W-2s for the most recent two years.	Borrower	All loans unless Rep and Warrant Relief for Income noted in AUS
Property Eligibility and Valuation	Confirm the property meets all requirements for eligibility, including its valuation, condition, and adherence to loan program guidelines.	Property	Sales Contract	Please provide fully executed sales contract, including all riders and addendums	Borrower	Loan purpose is a purchase
Property Eligibility and Valuation	Confirm the property meets all requirements for eligibility, including its valuation, condition, and adherence to loan program guidelines.	Property Insurance	Insurance - Hoi (Prior To Closing)	Provide Declaration page for Homeowners Insurance reflecting sufficient coverage equal to your loan amount. Otherwise a cost estimator must be provided and dec page evidence 100% along with 12 months paid receipt. Must list ____ as loss payee.	Borrower	Subject property is not a condo
Property Eligibility and Valuation	Confirm the property meets all requirements for eligibility, including its valuation, condition, and adherence to loan program guidelines.	Property Insurance	Flood Insurance	Your property is located in a flood hazard area. Please provide satisfactory flood insurance coverage and paid receipt. Must list _____ ISAOA / ATIMA as loss payee	Borrower	Property requires flood insurance