Key Takeaways
- Loan processing converts a raw application into a complete underwriting package.
- Conditions are classified as Prior to Document (PTD) or Prior to Funding (PTF).
- Maintaining a pre-assembled loan application package enables same-day condition responses.
- Large deposits (>25% of monthly income) always trigger LOE requirements—avoid them before applying.
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Test Your Knowledge
1.What is the difference between a "prior to doc" (PTD) and "prior to funding" (PTF) condition?
2.What is the most effective strategy for managing underwriting conditions?
3.Which document is typically the largest source of conditions in loan processing?