Va Form 26-8736b - Checklist/request For Authority March 2014
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1
2CHECKLIST/REQUEST FOR AUTHORITY
TO CLOSE LOANS ON AN AUTOMATIC BASIS - NONSUPERVISED LENDERS
NAME OF LENDER
HOME OFFICE ADDRESS OF LENDER
LINE
SECTION I - VA REQUIREMENTS (These must be met by the lender)
YES
NO
NO.
1A
WERE FINANCIAL STATEMENTS AUDITED AND CERTIFIED BY A CPA?
1B
ARE THEY CURRENT TO WITHIN 6 MONTHS OF THE APPLICATION DATE?
(Subtract current liabilities
WHAT IS THE AMOUNT OF WORKING CAPITAL?
2
$
from current assets)
3
ARE RESUMES INCLUDED FOR ALL PRINCIPAL OFFICERS?
HAS LENDER BEEN ACTIVELY ENGAGED IN ORIGINATING AND SERVICING VA LOANS FOR AT LEAST THE
IMMEDIATELY PRECEDING 3 YEARS OR DOES EACH PRINCIPAL OFFICER WHO IS ACTIVELY INVOLVED IN
4
MANAGING ORIGINATION FUNCTIONS HAVE 3 YEARS COMBINED EXPERIENCE IN VA MORTGAGES IN
MANAGERIAL FUNCTIONS?
5
HAS THE FIRM OR ANY OF ITS DIRECTORS OR OFFICERS EVER BEEN SUSPENDED BY VA OR FHA?
6
HAS THE LENDER/APPLICANT EVER HAD A SERVICING CONTRACT SUSPENDED FOR CAUSE?
7A
HAVE UNDERWRITERS BEEN NOMINATED ON PROPERLY COMPLETED VA FORM 26-8736A?
ARE THEY LOCATED IN LENDER'S HOME OFFICE OR, IF LENDER REQUESTS APPROVAL OF REGIONAL OR ZONE
OFFICE UNDERWRITING, HAS ALL NECESSARY INFORMATION CONCERNING THE COMPANY'S LENDING
7B
(including the location of regional office(s) and area(s) of jurisdiction)
OPERATION
BEEN FURNISHED?
DO UNDERWRITERS HAVE 2 YEARS MINIMUM FULL-TIME EXPERIENCE UNDERWRITING VA LOANS AND 3 YEARS
8
UNDERWRITING EXPERIENCE IN MORTGAGE LENDING?
9
DOES LENDER HAVE REQUIRED LINE(S) OF CREDIT OF AT LEAST $1 MILLION?
10
HAS A LIAISON OFFICER BEEN DESIGNATED?
11A
DOES THE LENDER HAVE TWO PERMANENT INVESTORS?
DOES LIST OF INVESTORS SHOW EFFECTIVE DATES OF SERVICING CONTRACTS AND PROVIDE ADDRESSES,
11B
TELEPHONE NUMBERS, AND NAMES OF PERSONS TO CONTACT?
12
WAS INFORMATION REGARDING HUD, FNMA, AND GNMA APPROVAL SUBMITTED?
SECTION II - STATION SUMMARY
13. QUALITY OF LOAN SUBMISSIONS ON PRIOR APPROVAL BASIS
VA FORM
SUPERSEDES VA FORM 26-8736b, APR 1989,
26-8736b
Page 1
MAR 2014
WHICH WILL NOT BE USED.
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