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Making Things Right Webinar Series

At Chase we are focused on making things right by helping to educate our customers on the importance of quality loan documentation in today's market environment.

Let's face it - the mortgage industry has changed, and the way we document and deliver loans has to change as well.
Chase recently offered a series of Loan Quality Training Webinars each designed for specific roles in your company.

If you were unable to attend these sessions, access recordings, presentations and more at ChaseLearningZone in the Making Things Right folder. If you are not registered for this site, sign-up on the home page today.

Past sessions include:

Successfully Documenting and Underwriting a Loan File
Appraisal Policy
Delivering a Loan File
Effective Quality Control Plans
Fraud Detection - Critical Questions and Valuable Resources

Non-Agency Product
Available for Eligible Chase Correspondent Lenders

Chase now provides access to an exclusive Non-Agency product offering designed for qualified borrowers with high loan amount needs. This program is available to Chase Correspondents who meet certain eligibility criteria.

Program Highlights:

Maximum Loan Amount: $2,000,000
Minimum Loan Amount: Minimum loan amounts apply
Maximum LTV/CLTV: 80/80%
Occupancy: Primary Residence Only
Transaction Types: Purchase, No Cash-Out Refinance, Cash-Out Refinance
Property Types: 1-4 Unit, PUD Condo, Co-op
4506-T Policy: A fully executed 4506-T (with transcripts) is required for all borrowers on the loan

Eligibility Criteria:

Must be approved by the Chase Customer Management Group prior to participation
Approved to do business with Chase Correspondent for at least one year and minimum volume of $6MM for the previous 12 months
Minimum audited HUD adjusted net worth of $1MM
12-month Conventional 90+ active ongoing delinquency <100% of channel average
For more information, please refer to Bulletin CB09-58 or contact your Account Executive.

Improve Your Funding Turn Time - Chase Hazard Insurance Requirements

At Chase, our goal is to fund your loans as quickly as possible. Reduce or eliminate your number of suspense items for hazard insurance by remembering to include certain information at the time of file delivery.

Purchase Transactions

Chase requires a new hazard and a paid receipt for the first year’s premium to evidence proof of insurance on purchase transactions.

NOTE: If the closing agent collects and pays for the first year’s premium, the HUD-1 Settlement Statement must reflect the amount disbursed in lieu of providing the receipt.

Refinance Transactions

Chase requires either:

a copy of the existing policy, certified by the insurance agency with an endorsement to Chase, or
a new hazard policy (if applicable) and proof of payment for the first year’s premium.

NOTE: Chase requires that the existing policy have a minimum of 30 days remaining at the time the loan is purchased by Chase.
If State Law allows for a maximum of 30 days for Binder, Chase requires that there be at least 20 days remaining at the time the loan is purchased.

Binders

Except in Iowa and Nebraska, a 60- or 90-day binder is acceptable, providing that there is at least 30 days of coverage remaining at the time the loan is purchased by Chase. A paid receipt for the first year’s premium is also required.

Certificate of Insurance

Certificates of Insurance/Memorandums of Insurance are acceptable proof of the Hazard Insurance, providing the certificate is on the insurance company’s letterhead and is signed by the agent.

A Binder or Certificate of Insurance must contain the following information: