There are different
interpretations of what defines a mortgage application. Our online
mortgage approval renders a basic automated underwriting decision
based on credit information we pull and information you supply. However,
Chesapeake Mortgage Funding, LLC considers your loan request to be a formal mortgage
application only after all the following criteria have been met:
| 1. |
The
loan request is for a definitive property that is either under
agreement (purchase transactions) or currently owned by the
applicant (refinance transactions) |
| 2. |
All compliance documents, including but not limited to the Uniform
Residential Mortgage Application, have been executed by all
applicant(s) and returned to the Chesapeake Mortgage Funding, LLC |
| 3. |
The
application fee has been paid to Chesapeake Mortgage Funding, LLC |
| 4. |
All
supporting income, employment and asset documentation have been
forwarded to Chesapeake Mortgage Funding, LLC by applicant |
If any of the
above requirements are not met, you have not met the criteria of
what constitutes a formal mortgage application with Chesapeake Mortgage
Group.
|
