Here’s how we audit the files:
• Mortgage checklist – should include lawyer contact information
• Commissions Record Sheet
• Application – along with signed and dated Consent Form
• Client Suitability Form – signed and dated by the clients
• Approval – signed and dated where necessary
• Insurance – signed and dated; accepted or waived
• Cost of Borrowing-Conflict of Interest – please refer to the "
Borrower Disclosure" section on this website
• Amortization schedule – initialed or signed by client
• Lawyer contact info – should be on the File Checklist
• Photo ID – driver’s license, passport
• Credit bureau
• Letter of Direction - if a broker fee has been charged
The loan code on the: record sheet, application, approval, insurance, disclosure, am schedule and credit bureau should all match each other