Get the free LOAN FILE CONTROL SHEET (Rev. 10/12)

LOAN FILE CONTROL SHEET (Rev. 10/12) LOAN PURPOSE: OCCUPANCY: LOAN #: PMC: LOAN OFFICER: PROCESSOR: APP DATE: 545. APPROVAL DATE: APPRAISAL DATE: EST CLOSE: Sharia Ellis EST FUND: SAL: BORN: HOME:

How to fill out loan file control sheet

1. The loan file control sheet is a document that helps keep track of all the necessary paperwork and information related to a loan application. It is typically used by loan officers, processors, or underwriters in financial institutions such as banks or credit unions.
2. To fill out the loan file control sheet, start by ensuring you have all the required documents from the borrower. These may include the loan application, income verification documents, bank statements, tax returns, credit reports, and any other relevant financial information.
3. Create a section on the loan file control sheet where you can record the borrower's personal information, such as their name, contact details, and social security number. This will help in identifying the loan file easily.
4. Next, list the specific loan details on the control sheet, such as the loan amount, interest rate, loan type, and term. You may also include information about collateral, if applicable, such as the property address or the vehicle details.
5. As you receive each document from the borrower, mark it off on the control sheet to indicate that it has been received and reviewed. This will ensure that nothing gets missed during the loan application process.
6. Additionally, it is important to note any missing or incomplete documentation on the control sheet. This will help you keep track of what still needs to be obtained or clarified from the borrower.
7. Throughout the loan process, update the control sheet with any additional information or changes. This could include updates to the borrower's income or employment status, any changes to the loan terms, or any other relevant information.
8. Once all the required documents have been obtained and reviewed, the loan file control sheet can serve as a verification tool to ensure that everything is in order before submitting the loan for approval.
9. All individuals involved in the loan process, such as loan officers, processors, and underwriters, can benefit from having access to the loan file control sheet. It helps them stay organized, track the progress of the loan application, and ensure that all necessary documents and information are accounted for.
10. The loan file control sheet is essential for maintaining accuracy, efficiency, and compliance in the loan application process. It serves as a central reference tool for all involved parties and helps streamline the lending process for both the borrowers and the financial institution.

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What is loan file control sheet?

Loan file control sheet is a document used to track and maintain records of a loan application from start to finish.

Who is required to file loan file control sheet?

Lending institutions, loan officers, or any financial institution involved in the loan process are required to file a loan file control sheet.

How to fill out loan file control sheet?

The loan file control sheet is typically filled out by documenting key information such as borrower's name, loan amount, interest rate, and important dates throughout the loan application process.

What is the purpose of loan file control sheet?

The purpose of the loan file control sheet is to ensure that all necessary documents and information are obtained and maintained for each loan application, in order to comply with regulations and guidelines.

What information must be reported on loan file control sheet?

Information such as borrower's name, loan amount, interest rate, key dates (application received, approval date, closing date), and any other pertinent loan details must be reported on the loan file control sheet.