There are different interpretations of what defines a mortgage
application. Our online mortgage approval renders a basic automated
underwriting decision based on credit information we pull and
information you supply. However, Community Residential Mortgage, LLC considers your loan request to be a formal mortgage application
only after all the following criteria have been met:
| 1. |
The
loan request is for a definitive property that is either
under agreement (purchase transactions) or currently owned
by the applicant (refinance transactions) |
| 2. |
All compliance documents, including but not limited to
the Uniform Residential Mortgage Application, have been
executed by all applicant(s) and returned to the Community Residential Mortgage, LLC |
| 3. |
The
application fee has been paid to Community Residential Mortgage, LLC |
| 4. |
All
supporting income, employment and asset documentation
have been forwarded to Community Residential Mortgage, LLC
by applicant |
If any
of the above requirements are not met, you have not met the
criteria of what constitutes a formal mortgage application
with Community Residential Mortgage, LLC.
|
