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How do I review the file as an fulfillment specialist?

Reviewing File Playbook

Step 1: Review the Deal (MA)

  1. Access MA System

  2. Review the following key details:

    • Deal Type: Is it a refinance or purchase?

    • Title Holders: Identify who is on title. If there is a consenting spouse, marital status or guarantor, ILA (Independent Legal Advice) is required.

    • Occupancy Details: If the property is a rental, register NOAR with the lawyers.

    • Collateral Properties: Check for any collateral properties.

    • Mortgage Details:

      • Identify if any mortgages are being paid out or if any are remaining in priority.

      • For a new 2nd mortgage, Fulfillment must calculate the prepayment penalty once an information statement is available or check the 1st mortgage charge in Alfie to see if the mortgage is on demand. If on demand, use the on-demand balance.

    • Term Details: Length of term, prepayment penalties, amortization or interest-only terms, and mortgage prepayments.

    • Broker/Contact: Identify the broker or contact person working on the deal.

Step 2: Review Underwriter Notes (MA)

  1. Check Underwriter (UW) Notes for Specifics:

    • Look for anything relevant mentioned by the underwriter, such as:

      • Retainer waived

      • NOAs required

      • Revised commitments

  2. Evaluate Exit Strategy & Suitability

  3. Review the Deal Story and ETO (Expected Time of Ownership)

  4. Check Custom Fields Notes:

    • Appraisal details

    • Purpose of the loan

    • Additional UW notes

Step 3: Update and Review in HS

  1. Verify Borrower & Property Details:

    • Ensure borrower and property details are updated and match the information in MA.

  2. Document Review & Organization:

    • Ensure all documents are on the deal with the correct category name.

    • Check for any approvals or exceptions.

  3. Review Draft Ledger:

    • Verify for any shortfalls.

  4. Verify Retainer Receipt:

    • Ensure the retainer receipt is available in Hubspot (should always be present, as underwriters do not send deals to fulfillment without it).

    • If missing,

      • Create a ticket for accounting admin with the category, Retainer Receipt,

      • assign ticket to Oksana if the retainer was e-transferred

      • or assign ticket to Accounting Admin along with the unsigned commitment to Accounting Admin.

    • Accounting admin will process and attach the retainer deposit receipt to the deal record

    • Ensure this is saved as a document record with the correct category name.