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FIRST MORTGAGE CONVENTIONAL STACK ORDER LEFT SIDE OF PACKAGE Data Verify/ Fraud Guard Findings (FMC to DO) Place findings on left side of files Insert conditions within proper stack order on in right
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How to fill out first mortgage conventional stack:

01
Start by gathering all the necessary documents, such as proof of income, tax returns, and employment history.
02
Use a mortgage application form provided by your lender, and fill in all the required information accurately and honestly.
03
Include personal details like your name, contact information, and social security number.
04
Provide details about the property you wish to purchase, such as the address, purchase price, and estimated closing date.
05
Enter information about your income, including your employer's name, job title, and how long you have been working there.
06
Include details about your assets, such as bank accounts, investments, and any other properties you own.
07
Declare your liabilities, such as existing mortgages, loans, or credit card debt.
08
Provide information about your credit history, including any bankruptcies or foreclosures.
09
Review the application thoroughly to ensure accuracy and completeness.
10
Sign and date the application before submitting it to your lender.

Who needs first mortgage conventional stack:

01
Individuals or families who are looking to purchase their first home and need financing.
02
Homebuyers who prefer conventional loans over other types of mortgages, such as FHA or VA loans.
03
Borrowers who have a solid credit history and meet the income and eligibility criteria set by the lender.
04
Those who are ready to provide the necessary documentation and fill out the application accurately and honestly.
05
Homebuyers who want to take advantage of competitive interest rates and terms offered by conventional mortgages.
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The first mortgage conventional stack refers to the initial ranking of mortgages on a property, where the first mortgage holder has the primary lien position.
The lender or financial institution that holds the first mortgage on a property is required to file the first mortgage conventional stack.
To fill out the first mortgage conventional stack, the lender must provide all relevant information about the loan, property, and borrower in a standardized form.
The purpose of the first mortgage conventional stack is to establish the priority of liens on a property in case of default or foreclosure.
Information such as the loan amount, interest rate, property address, borrower's details, and any other relevant terms of the mortgage must be reported on the first mortgage conventional stack.
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