The most important things Louise Thaxton provides to military families 1) she learns their story 2) provides a Total Cost Analysis to help them make a smarter mortgage decisions that builds wealth faster 3) provides them a VA METL (Mission Essential Task List.

1. VA FILE METL (Mission Essential Task List)
Score
Loan # Closing
Production
Partner
Borrower
Credit
Pulled
Submitted
MISSION BEGINNING‐Plan for Success
File Contacts Completed
Correct Milestone in Encompass ‐ Milestones Completed
Custom Fields Completed Pages 1‐4 /Page 4 Nearest Living Relative/Child Care
Borrower Summary Screen ‐ referral source completed
Property Type ‐ Detached/Attached/PUD/Condo/Coop
HOA Contact Info Requested ‐ HOA Dues on top of page 2 of 1003
Condo/Attached PUD Project Approval Printout ‐
https://vip.vba.va.gov/portal/VBAH/VBAHome/condopudsearch
Condo/PUD Questionnaire & Financials ‐ Ordered from HOA
New Construction Docs (If applicable) ‐ including VA Builder ID#
https://vip.vba.va.gov/portal/VBAH/VBAHome/buildersearch
Submission Checklist
Processing/Underwriting Submission Checklist completed
Loan Officer Cover Letter to Processor ‐ REQUIRED
Borrower using Power Of Attorney? Copy of POA & POA Approval uploaded into eFolder
If Veteran not signing contract/1003 ‐ must have LOX stating aware entitlement being used
GFE & TIL Accuracy
Fees accurately disclosed per loan program/special circumstances
Purchase price/loan amount & Funding Fee accurately disclosed
Numbers on 1003, GFE & TIL match throughout file
TIL Payment Schedule ‐ Recording Fees ‐ Purchase or Already Owned
VA Funding Fee ‐ EXEMPT or NON‐EXEMPT/Regular or Reserve/1st time or Subsequent
ARM ‐ Set up correctly ‐ Margin/Index/etc
Loan locked correctly ‐ All Redisclosures in file (min. 5 days prior to close)
Loan Type/Program Disclosures
VA Loan specific disclosures in file
Pull VA Certificate of Eligibility from VA Website- Check $$$ Entitlement
Active Duty- Statement of Service from Commanding Officer
Veteran- Copy of DD214/ Reserves Veteran- Copy of DD256
State required disclosures in file
Loan App 100% Complete & Accurate
USPS Zip Code printout in file
All boxes completed & all forms signed/dated by all applicable parties
If Refinance ‐ All refi info on page 1 completed
2 Year Address History with Dates

2. 2 Year Employment History with Title/ Position/ Dates/ Phone #'s & Addresses
Marital Status/# of Dependents & Ages/Home & Cell Phones/ Years School
Current Rent or Mortgage Payment on top of page 2 (including HOA Dues
VA Loan Analysis- Correctly completed with VA Residual Calculated
VA Loan Summary ‐ completed
VA Certificate of Eligibility form‐Branch&Dates of Service‐PriorLoanInfo
All Assets on page 2 match Bank Statements in eFolder
All Liabilities match Credit Report ‐ Do you need a credit supplement?
Child support/Alimony/Job Expenses Completed
REO Section completed‐Investment property matches Schedule E of Tax Returns
Details of Transaction match GFE (Seller/Lender Credits ‐ Earnest Money)
All Declarations answered- Supporting Docs in file
Credit Report
Disputed or Authorized User Accounts ‐ STOP & ADDRESS ‐ FOLLOW FIMC POLICY
Non- Purchasing Spouse- Credit report in file-Liabilites added (if applicable)
Non-Purchasing Spouse- Photo ID & Social Security Number
Deferred Student Loans ‐ must have lender letter or add to debts
LOX Inquiry Letter
LOX Derogatory Accounts/Late Pmts/Tax Liens/Judgments/Foreclosures/Short Sales
Documentation for any new accounts not on credit report
Bankruptcy Docs with all Schedules & Discharge-LOX required
Short Sale- check for FIMC & Investor overlays- LOX required
Foreclosure ‐ Copy of Foreclosure Deed to prove date of Foreclosure Sale‐LOX Required
Negative Credit Docs‐Tax Lien Releases/Satisfaction of Judgments/Etc.
Income ‐ Docs Match AU Findings & 1003
Active Duty ‐ Paystub showing minimum 30 days YTD pay ‐ Print out of MyPay
Active Duty ‐ Allotment Printout ‐ Print out of MyPay
Active Duty- LES-Check ETS date-STOP IF <12 months (additional docs needed)
Active Duty-W2Forms-Print out of MyPay
Veteran ‐ Paystub showing minimum 30 days YTD pay
2 Years W2 Forms/K1's/ 1099's/School Transcripts
2 Years Tax Returns ‐ Personal ‐ All Schedules Required
2 Years BUSINESS Tax Returns ‐ if Self‐Employed
Self‐Employed ‐ Verification/CPA Letter
Social Security/Disability Income Letter
Relocation ‐ Employer Offer Letter accepted by Borrower‐All Contingencies Removed
Employment Gap Letter >60 days
FIMC Income Calculation Form Completed ‐ REQUIRED
Assets ‐ Docs Match AU Findings & 1003
2 or 3 Months Bank Statements ‐ all pages
Gift Funds ‐ Executed Letter & Supporting Docs
401K Loan Docs/Withdrawal Terms & Proof of withdrawal if using for down payment
Assets ‐ Net Proceeds from sale of current home ‐ HUD1 in file
ALL Non‐Payroll Deposits Documented
Joint Account ‐ Need access/authorization letter
NSF's/Overdrafts on Bank Statements- LOX Required

3. Purchase Submission
Fully Executed Contract ‐ names match Borrower(s) ID
Address on Contract matches USPS Zip Code
Closing Cost Credits & HOA's match 1003/GFE
REO/Flip <90 days ‐ must be addressed/documentation in file
Refinance Submission
Refi Type- IRRL or Cash Out
1st Lien Payoff Information/ 2nd Lien Subordination or Payoff Information
VA 26-8923 Rate Reduction Worksheet- for IRRL's
Current Mortgage Statement (s) in file
Current Hazard Info
Current Propeerty Tax Statement
Copy of HUD & Note for property being refinanced
Net Tangible Form
VA Old vs. New Worksheet- IRRL's only
Divorced Borrowers/ Alimony-Child Support Paid/Received
Copy of Divorce Decree/ Support Order/ Property Settlement/ Etc.
Borrower receives- Copy of order and proof recived & 3 year continuance
Borrower Pays- Copy of order & Proof paid
Child support- copy of birth certificate if DOB is not on Court Docs
Homeowners Insurance
Agent name & telephone number received/requested
AU Findings- DU or LP
AU Run Accurately? Match Investor if needed
Type of Appraisal needed- VA appraisal or if IRRl need 2055
AU Findings match file documentation & 1003 loan app
VA Loan Origination MISSION COMPLETE!
VA SPECIFIC DOCUMENTS REQUIRED
Certificate of Eligibility- Pull from VA Website
Active Duty Personnel
Driver's License or Passport
Military Paystubs are called LES (Leave & Earnings Statements)
https://mypay.dfas.mil/mypay.aspx
Statement of Service – this is the substitute for the DD214 for Active Duty Veterans
– they can obtain this statement from their finance or personnel office.
Understanding the LES – FOR YOUR INFORMATION http://www.dfas.mil/dfas/militarymembers/payentitlements/aboutpay.h
What is the ETS date? Enough time remaining for loan approval?
Does the LES show any allotments? If military debt – must add to liabilities/debts
Transfer Orders for PCS moves
Nearest Living Relative – Complete with all information
Child Care – Complete with all information – add monthly cost to liabilities/debts
If children & no child care cost ‐ Must have LOX stating relative/spouse provides care at no cost
Purchase Contract:

4. HOA Acknowledgment Disclosure
VA Builder ID if new construction
Airport Acknowledgement Disclosure (if applicable)
New Construction Docs (If applicable) ‐ including VA Builder ID#
Retired Military Personnel
DD214 (must be legible) – DD214’s are issued to the Veteran upon separation from service
Driver's License or Passport
The Retired Veteran can get their retirement statement online at https://mypay.dfas.mil/mypay.aspx

7. payentitlements/aboutpay.html