Use This Handy Mortgage Loan Application Borrower’s Checkl

18/3/2009 · Kategori: finans

Save time completing your mortgage loan application. This Mortgage Borrower’s Checklist will help you gather most of what’s needed by mortgage lenders.
Personal Information:
This is important for two reasons: first, it helps verify who you are, and second, it helps paint a picture of how stable you are. If you've moved dwellings and changed jobs frequently over the last three years, you should have a good reason for doing so to avoid those changes becoming a stumbling block in your loan application.

  • Every home address you've had for at least the last two years; longer is better.
  • Employment history of each person whose name will be on the mortgage for at least the last two years. Make sure you include the dates you were employed and the name, address, and phone number of that employer. It's helpful if you also have the names and phone numbers of your direct manager and your personnel office.
  • If you're divorced, a copy of the decree. Any other similar judgment or dissolution should also be added to the list.

    Financial Information:

    If you're employed by someone else, bring with you:

  • Enough current pay stubs to verify at least the last 30 days of your income as well as your income year-to-date. Overtime, commission, and bonuses should all be noted.
  • W-2s for at least the last two years.
  • Information about any automatic payroll deductions, voluntary or involuntary.

    If you're employed by someone else, bring with you:

  • At least the last two years of your federal tax returns, including all schedules.
  • At least two years of corporate or partnership tax returns including schedules.
  • At least two years of your balance sheets and profit/loss financial statements.

    If you are retired, disabled, or otherwise not employed, bring all of the following that apply:

  • Copies of your most up to date Social Security Award letters.
  • Copies of your most recent retirement or pension check, or a copy of the bank statement showing the deposit with information about the source of the cash.
  • The most recent copy of any disability award letters

    Everyone should bring the following:

  • Bank statements for all accounts you wish considered in the loan that cover the last two months
  • An itemized list of monthly bill payments including:
    o Rent
    o Mortgage
    o Credit Cards
    o Installment Loans
    o Student Loans
    o Child Support Payments

    Loan Paperwork:

  • If you've done any paperwork already toward getting your mortgage or toward purchasing a home, bring it. Especially bring any applicable signed purchase agreements. Finally, be prepared to pay a fee to fund the credit check your loan company must do prior to approving your loan.

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    MLTrac™

    16/2/2009 · Kategori: finans

    MLTrac™




    With the ever-increasing emphasis on being able to demonstrate adequate anti money laundering procedures and prevention techniques, plus the draconian penalties for those failing to maintain suitable evidence of such activity, no financial institution can afford to be without an automated system such as MLTrac.

    MLTrac is part of our portfolio of banking software and is dedicated to identifying, tracking and regulating potentially suspicious or illegal activities in respect of money laundering and/or the proceeds of crime.


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    MLTrac enables financial institutions to improve their internal disciplines,supplement their policies and procedures, and make a clear statement to the authorities about their commitment to effective anti money laundering controls.

    MLTrac's functionality is based upon a combination of our experience, together with contributions from our customer base and the relevant international financial authorities. Regular updates also take account of any future changes in market requirements and legislation.

    Functions:

    *
    KYC Document Management - The definition, scanning, management and tracking of customer documentation, and reporting of any deviations.
    *
    KYC Account Monitoring -The tracking of movements over account(s) looking for deviations outside of a pre-determined profile.
    *
    Manual Watch List Checking. Enter a name and the system will check to see if the name, or like sounding names, appear on any of the watch lists (e.g. OFAC, Bank of England and others) that the system monitors
    * Message Monitoring. MLTrac can be configured to check all inbound and outbound messages, irrespective of format, to see whether any field (normally the Ordering Customer and Beneficiary) appears on one of the supported checklists. The bank has control over the granularity of the name checking so as not to create too many false alerts. Messages that fail Watch List Checking are put to a quarantine queue for manual intervention. Full Audit Trails of all checks and actions taken is maintained by the system.
    *
    Cash Remittances. For the many institutions that originate from a country with a large overseas population the problems associated with accepting cash for remittance back home when taken against the potential ramifications of anti money laundering legislation means that the business is very risky and, often, not worth doing. The Cash Remittances module does away with this fear. Information concerning the remitter is maintained as part of the KYC Documentation Management module and is displayed and made available to the teller at the point of capturing data. A full record off all remitters and beneficiaries is maintained. Limits can be placed upon the individual remitter and upon the ultimate beneficiary (irrespective of source). The resulting SQL database can be interrogated for unusual payment patterns.

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