MPF® Traditional Training:Capital Markets Cooperative

Originating & Underwriting

Processing

Now's the time to complete the processing steps that ensure your borrower and the property meet the MPF® requirements.

You will process the MPF loan as you would loans for other secondary market investors.

Demo: Want to know more? View our MPF Traditional: Product Eligibility & Underwriting webinar.

Your Responsibilities

  1. Run your automated underwriting system (if applicable)

  2. Gather borrower information

  3. Validate the information provided by the borrower

  4. Order an Appraisal

  5. Order the Title search

  6. Order a Life of Loan Flood Certification

    • CMC Funding's preferred vendor is CoreLogic; however, they will work with all major flood determination companies.

    Note: A flood zone determination certificate with life-of-loan coverage must be obtained from a servicer-approved vendor.

  7. For LTVs over 80%: Obtain private mortgage insurance from our list of approved vendors.

     
    • Arch Mortgage Insurance Company (formerly CMG Mortgage Insurance Company)
    • Essent Guaranty, Inc.
    • Enact (formerly Genworth MI)
    • Mortgage Guaranty Insurance Corporation (MGIC)
    • National Mortgage Insurance Co.
    • Radian Guaranty Inc.
    • United Guaranty Residential Insurance Company and United Guaranty
    • Mortgage Indemnity Company
  8. If using an Automated Underwriting System (AUS): When loan data is updated and the AUS is submitted for the final time, loan information should match the documentation used to make the final decision.