What You Need to Know…

1. The Supplemental Closing Instructions Have Been Updated
As always, Closing Agents should use AmTrust's Master and Supplemental Closing Instructions when preparing the Preliminary HUD-1/1A.

2. Closing Docs Package Now Includes Copy of Most Recent GFE
Upon your receipt of the Closing Docs, a copy of the most recent GFE will be attached to the Closing Docs package.

As noted in the closing instructions, the Preliminary HUD-1/1A must be consistent with the most recent GFE provided or the loan will be considered deficient.

3. Preliminary HUD-1/1A Must Be Uploaded Prior to Funding and eSignŽ

  • The Preliminary HUD-1/1A must be uploaded by Closing Agents to initiate a Pre-Funding Audit of the GFE and Preliminary HUD-1/1A

  • Closing Agents should use the 'Preliminary HUD-1/1A' document type option in the Upload module. (See screenshot below).

Reminder: The Preliminary HUD-1/1A must be uploaded 2 business days prior to closing/signing to allow for the Pre-Funding Audit to be completed.

  • AmTrust Mortgage Banking will email AmTrust Clients if a deficiency is identified during the Audit and when the Audit has been successfully completed.

  • If a loan has a Pre-Funding RESPA Deficiency, the AmTrust Client should notify the Closing Agent on how to clear the deficiency.

  • When the Pre-Funding Audit has been completed successfully or a deficiency has been resolved, the AmTrust Client should notify the Closing Agent to proceed with eSignŽ and funding.

4. The Following Documents Must Be Uploaded Immediately After Closing/Signing
Please review the grid below for all post closing/signing document submission requirements.

Note: A separate upload is required for the Final HUD-1/1A using the 'Final HUD-1/1A' document type option in the Upload module. See the screenshot above.

 

 

Upload

Over Night Mail
eSignŽ Loans*

ˇ         All ink-signed documents (Do not upload copies of electronically signed documents).

ˇ         ALTA Short Form Lenders Title Policy

ˇ         Final HUD-1/1A with required signatures

ˇ         No documents required

Please see reminder below regarding Final Docs
Non-eSignŽ Loans (Paper Ink-Signed Loans)

ˇ         Final HUD-1/1A with required signatures

ˇ         ALTA Short Form Lenders Title Policy

All closing documents including but not limited to:

ˇ         Note (including Modification Agreement), CEMA and attachments to CEMA, ARM Rider to Note, Prepayment Addendum, Buy-down Agreement with Schedule, TPR

ˇ         Allonge (when applicable)

ˇ         Assignment (when applicable)

ˇ         Mortgage/Deed of Trust/ Security Instrument and Riders (upon recording)

ˇ         Final HUD-1/1A with required signatures

ˇ         Signed Limited Power of Attorney

Note: A separate upload is required for the Final HUD-1/1A using the 'Final HUD-1/1A' document type option in the Upload module.

Reminder: The Final Documents, such as the original recorded mortgage, must be mailed to AmTrust Bank.

Published January 28th, 2010


About AmTrust Bank   |   Contact Us   |   Site Map                                                   Equal Housing