- Mark Madsen
- May 15, 2014
Originator Flexible Fulfillment (“O-Flex”) is a permitted fulfillment service level proprietary to FirstFunding wherein the Mortgage Originator (“MO”) is responsible for closing document preparation & HUD-1 preparation HUD-1 approval. Limited service provided by the FSP; closing document review (simultaneous to or after delivery of preliminary closing documents to SA) with correction requirements sent to MO as necessary, settlement statement compliance review (after HUD-1 has approval by MO) with any correction requirements sent to both MO & SA, funding request preparation & submission to warehouse lender, funding compliance certification, funding disbursement authorization, attorney review services (where required by state law or as requested), custodial services, & post-closing delivery of original note to secondary market investor for purchase review. MO is responsible for all post-closing closing document shipping, imaging & upload to secondary market investor, post-closing investor purchase condition monitoring/management & status reporting to warehouse lender, tracking of delivery of investor’s required trailing documents following loan closing.