Reviewing, verifying and tagging documents

A lender that opens a package and finds a missing page, last year's statement or someone else's ID declines or stalls the file, and remembers it. Reviewing each document before it can go out is the processor's main quality check. In the CRM, only received or verified documents can be attached to a submission, and a rejected document drops out of the checklist.

1. 1Open the deal's Documents & stips tab and scroll to Documents. Each file shows its type, status (Received, Verified, Rejected), statement month, page count, size, and who uploaded it when.
2. 2Click the file name to open it in a new tab. Every download is logged.
3. 3Check it against the checklist below.
4. 4If it is good, click Verify. The matching checklist item becomes Approved.
5. 5If it is wrong, open the menu and choose Reject…. Give a Reason (missing pages, blurry, wrong month). The checklist item goes back to Requested, so it shows up in the next stips request.
6. 6If it was uploaded as the wrong type, use the menu's Change type to options (application, bank statement, MTD statement, driver's license, voided check). For any other type, remove the file and upload it again with the right Document type.

Suspect an altered statement? Do not verify it. Leave an Underwriting note and tell your manager. See Red flags and fraud signals.

The Underwriting tab lists the same checklist items as Conditions, with a decision on each. Processors and managers can decide them.

• Approve a condition when it is satisfied. An approved condition counts as done even if no file of that type is on the deal (useful for a verbal landlord check).
• Decline… with a reason when it is not acceptable. A declined condition stays open whatever is uploaded, until you Reopen it.
• Add condition adds one or more condition types at once, such as Landlord / lease verification or UCC search.
• Underwriter notes save as you type and keep a version history.

Processors, managers and owners can upload, verify, reject and remove documents. Agents can upload and verify but not remove. Removing a document takes it off the deal and the checklist; the file is kept for the audit trail.