MPF® Traditional Training:Colonial Savings

Training Courses  
Originating & Underwriting

Borrower Application

Congratulations! Your borrower has trusted you to originate their home loan.

With you as their mortgage professional, the Borrower will complete the loan application and provide all requested documentation. Let’s get started!

Your Responsibilities

  1. Determine if your borrower’s loan meets the MPF Program requirements found in the MPF Guide.

    On-Demand Webinar: MPF Traditional: Product Eligibility & Underwriting.

  2. Assist the borrower in completing the Uniform Residential Loan Application.

  3. Send out initial disclosures (E.g. TIL, Loan Estimate, etc.).

    • Collect the Colonial fees:
      • Tax Service Fee: $89.00
      • Conventional Loan Boarding Fee: $100
      • Escrow Waiver Fee: 0.25% of the UPB at time of sale to MPF (escrows cannot be waived for loan amounts less than $50,000, LTVs > 80%, or FICO < 620)
    • MPF has no additional delivery fees. 

Important Reminder: Meet all state and federal regulatory requirements.