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Frequently Asked Questions for Clients

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Application Package / Re-certification Package

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To be an approved broker/correspondent and to do business with Sun West, you are required to submit the executed Broker/Correspondent Application package along with all supporting documents to the Broker Support team <broker@swmc.com>.

The Application Package has all the terms and conditions that you must provide to be approved as a Sun West business partner. Click on the below links to download the application packages. The list of supporting documents is listed in the “Application Checklist” which is a part of “Broker/Correspondent Application”.

By submitting the signed Broker/Correspondent Application package along with all supporting documents to the Broker Support team, you can be approved to do business with Sun West for one (1) year.
Thereafter, you are required to submit an executed Recertification Package along with all supporting documents, as mentioned in the “Re-Certification Checklist”, to the Broker Support team <broker@swmc.com>.

Please send an email to the Broker Support team <broker@swmc.com> along with your request.

Please send an email to the Broker Support team <broker@swmc.com> requesting them to send the Broker Application Package to your ID for e-signature.

Appraisal

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You can order appraisal and track the appraisal order status through the “Appraisal Order Status” section within SeeMyLoanStatus.

Click here to view the training video on how to order appraisal on loan file.

Please send your request to the Vendors Orders team <vendororders@swmc.com> along with the new lender’s details.

Please provide the Appraisal Report and Transfer Letter to your CRM / Underwriter. The Underwriter will review these documents and the appraisal will be transferred to Sun West if the documents are approved. A new appraisal will be required for the subject property if the documents are declined by the Underwriter.

According to the Equal Credit Opportunity Act (Regulation B), The Lender must provide a copy of the Appraisal or any other written valuations promptly upon completion, or in no less than three (3) business days prior to closing.

Sun West may use any means to provide the copy, including but not limited to mail, e-mail (electronic message), overnight delivery, etc., as long as the borrower receives the copy no less than three (3) business days prior to closing.

Sun West is responsible for delivering a copy of the Appraisal or Written evaluation to the borrower on loans wherein Sun West:

  • orders the appraisal or any other written valuations, OR
  • is the lender.
Sun West is responsible to ensure that the client has delivered a copy of Appraisal or Written evaluation to the borrower on loans wherein:
  • client orders the appraisal or any other written valuations,
  • Sun West is not the lender.

AUS

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Yes, you can run your AUS (DU or LP) using the AU Submission button on the top right hand corner of the Menu in SeeMyLoanStatus. You can also reissue your credit and select run to submit your AUS.

For detailed instructions on how to use the “AU Submission” button, please click here.

Bank Statement Calculator

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You can download the Personal and Business Bank Statement Income Calculator from Allregs. They are available under the section “Reference Tools” of the “Non-QM Mortgage Programs” section.

Broker Compensation

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You can verify your compensation rate from your executed Compensation Addendum or you can email the Broker Support team <broker@swmc.com> to confirm the same.

The compensation rate may be adjusted only once every two (2) months. To change your current compensation, you should send an email to the Broker Support team along with an executed Compensation Addendum to confirm your compensation rate.

Please note that if you do not select a compensation plan in the Addendum, then you will be deemed to have selected a Lender Paid compensation plan of 2.00% and/or consumer paid compensation plan of 1.00%.

Non-QM loans may be “covered” or “non-covered” loans. “Covered” loans are subject to LO compensation rule and compensation factor on such loans depends on what was chosen as part of the Compensation Addendum to the Mortgage Broker Agreement. “Non-Covered” loans, such as those done for Investor Properties with primary use for business purpose, may have a different compensation structure, subject to the maximum of 2.75% total compensation.

Closing Documents / Closing Disclosures

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You can request the Closing Disclosure on the loan file once all external “Prior to Docs” and “Suspended” conditions are resolved/waived on Approved loans on which the Initial Closing Disclosure is not yet sent. This can be done by clicking on the “Click Here to Request Closing Disclosure” button available below the loan status chevron graph in SeeMyLoanStatus site.

After the Initial Closing Disclosure has also been sent, you can request Closing Documents by clicking on the “Click Here to Request Closing Documents” button available below the loan status chevron graph in SeeMyLoanStatus site.

Note: The “Click Here to Request Closing Disclosure” feature is only applicable for forward loans for which TRID guidelines are applicable.

You can also call the Customer Care team at 844-978-6937 if you have any questions.

Concern / Complaint

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If you are having a negative experience, Sun West’s Management is waiting to speak to you.

The Management Hotline team works to address your concerns with the respective department and provides you with a resolution or response, as warranted. You can speak to a Management Hotline team member by calling (844) DIAL-SWM (844-342-5796). You can also type your feedback, question or complaint in the “Provide Feedback / Ask a Question” section of SeeMyLoanStatus and click on Submit.

If your concern/question is regarding underwriting of the loan file, then you can also call the UW Hotline team at (800) 241-7113 or email them at UWHotline@swmc.com.

Click here to view the training video on how to contact Management Hotline team.

Contact Information

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You can speak to the Customer Care team by calling 844-978-6937 or you can send them an email at customercare@swmc.com.

For the Loan Servicing Department, you can call 800-453-7884 or you can submit the Servicing Inquires form available in the Sun West website.

You can find the Underwriter’s contact information in the “Loan Contacts” page of SeeMyLoanStatus.

Virtual Loan Assist is a 24x7 live web chat application for clients to get immediate support and information from experienced mortgage professionals on loan related question.

Corporate Address

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Sun West Mortgage Company, Inc.
Branch NMLS ID: 3277
6131 Orangethorpe Avenue, Suite 500
Buena Park, California 90620

Creating / deactivating user account

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Please update your details in the “User ID & Branch Creation Request” sheet and email it to the Broker Support team <broker@swmc.com>. The Broker Support team will then share your login credentials in a separate email.

Yes, all you need to do is to send an email to the Broker Support team <broker@swmc.com> along with the name of the LO and reason to deactivate his/her user ID.

Disclosures / Forms / Loan Documents

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The “Print Docs” feature of SeeMyLoanStatus allows you to print and email loan documents such as state or program specific disclosures required on the loan.
E.g. Draw Request, Self Help Agreement, Borrower Authorization Form, Total QM Validation form, LE disclosure, and Intend to proceed.

Follow the simple steps given below to print the documents:

  1. Click on the “Print Docs” button.
  2. Once the Print Docs screen is loaded, search for the required documents and select them.
  3. Hit the “Print” button.
Click here to view the training video on how to print disclosures on loan file.

Go to the “View/Download Documents” section of SeeMyLoanStatus, select the required form from the drop-down list, and click on Go.

Once you have logged into your loan file in SeeMyLoanStatus, click on the link for “View Previous Uploads” available on the Top menu bar. This will open a new page with the list of all documents uploaded on the loan file.

Sun West offers both options as per borrower’s preference. Once the application is received, Sun West sends an email to borrower requesting the electronic consent. If the borrower provides the electronic consent, Sun West will send disclosures electronically to borrower; otherwise disclosures are mailed to the borrower.

Yes, Sun West can send the draft Closing Disclosure document to you before it is disclosed to the borrower for review. You can request this of your Relationship Manager (RM) (if it’s a file specific request); OR you can request that your Account Executive (AE) or Client Relations Manager (CRM) document the request in the Client Specific Instructions (it will apply for all the loans submitted by you).

  • The Month to Recoup disclosure gives the details of the costs and benefits associated in refinancing the existing loan. Months to Recoup represents the number of months that will be required to reimburse the amount which is paid by the borrower as closing costs.
  • The Caution To Homeowners disclosure is provided on Cash Out Refinance loans to explain the risks associated with Cash Out Refinance loans.

Encryption

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Sun West’s compliance policy requires that any document which contains borrower’s information should be encrypted before sending it to any external party. This is to ensure that borrower’s sensitive information is protected and is accessible only to authorized individuals.

To ensure that the documents submitted by the borrowers are safe and secure at all times during the loan process, Sun West sends the “Caution: Do Not Email Your Documents” disclosure containing the following instructions to the borrower:

  • Do not submit any documents to Sun West through email.
  • Submit all the documents to Sun West securely by uploading them in the SeeMyLoanStatus portal.
Per Sun West’s policy, borrower’s Non Public information (NPI) is shared only on a Need-to-know basis. Moreover, any document with borrower’s information is encrypted before sending to any external party to ensure that the borrower’s sensitive information is protected and viewed only by the authorized external party.

Additionally, if Fraud Alert appears on a borrower’s Credit Report, a call is made to the borrower to confirm whether they are aware of the Fraud Alert and to verify they have applied for the loan.

Fees

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Sun West charges an underwriting fee of $995 for all loans except streamline refinances. In the state of New Jersey, Sun West charges a commitment fee of $995, instead of the underwriting fee.

You can view, add or update your Fees by login in to SeeMyLoanStatus and clicking on the Fees button on the top menu. This will allow you to view, add or update the Fees on your loan.

For detailed instructions on how to view/add/update your fees please click here.

The “Get Third Party Fees” button on the Fees page of SeeMyLoanStatus enables users to select relevant third party fees and automatically calculates and adds the fees to the loan. It is a convenient alternative to manually adding the third part fees.

For detailed instructions on how to use the "Get Third Party Fees" button click here.

License Details

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Please click here to get the complete license information for Sun West Mortgage Company.

Loan Calculators

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You can calculate the monthly mortgage payment using the FHA Purchase Calculator. Click here to access all the Loan Calculators from Sun West Website.

Loan Scenario / Loan Products / Guidelines

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Click here to access all the products/guidelines offered by Sun West on the Wholesale and Hybrid Correspondent Channels.

You can also access product guidelines by navigating through the following path:
Login to SeeMyLoanStatus site => Click on "Hamburger" Icon => Click on "Resources" => Select "Products".

Click here to view the training video on how to locate product guidelines. You can additionally refer the training videos for Programs from Sun West Website.

Click here to view the training video on how to locate product guidelines. You can additionally refer the training videos for Programs from Sun West Website.

If you still have any queries or questions pertaining to products offered by Sun West or their respective guidelines please send them to the UW Scenarios team at uwscenarios@swmc.com.

You can send an email to UW Scenarios team <uwscenarios@swmc.com> along with the loan scenario. Alternatively, you can use "U/W Scenario" feature, which is available in dropdown list of "Hamburger" icon on SeeMyLoanStatus site, to submit Underwriting Scenario Request.

Yes, Sun West offers Non-QM loans through our Hybrid Correspondent channel. Please click here to access the guidelines.

All the Down Payment Assistance (DPA) Programs and their guidelines are available under the "Underwriting Guide" section in the "Forward Mortgage" section (click here).

To request a new DPA program, you can send an email to Underwriting Scenarios team <uwscenarios@swmc.com>.

Loan Status

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The SeeMyLoanStatus website allows you to efficiently track your loans online - anywhere & anytime. The Loan Status Graph on SeeMyLoanStatus

  • gives a real-time status on the progress of the loan
  • displays the complete loan cycle from application to closing and gives estimated dates for future events
  • shows the completion level of underwriting and funding requirements as a percentage of the total
  • aids in planning ahead for a smooth closing.
You will also receive email notifications whenever there is a change in your loan status, appraisal status, or when any condition is resolved. You or your borrower can opt in or out of receiving these notifications.

Lock

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Requesting a lock on a Forward Mortgage loan is just a few clicks away with the “Price the Loan” feature within SeeMyLoanStatus.

If the loan is not yet submitted to Sun West you can submit the lock request by using “Pricing / Request Lock” button available in the Top menu of the “Loan Information” page. If the loan is submitted to Sun West then the lock request can be placed using the “Request Lock” link from the “Loan Information” section of the SeeMyLoanStatus main page.

You can submit a Re-lock request on a cancelled-lock loan by clicking on the “Request Re-lock” button, available in “Loan Information” section of the SeeMyLoanStatus main page.

You can submit a lock extension by using the "Extend/Cancel Lock" button which is available in the “Loan Information” section of the SeeMyLoanStatus main page.

You can submit a lock cancellation request using the ”Extend/Cancel Lock” button which is available in the “Loan Information” section of the SeeMyLoanStatus main page.

You will receive the compensation as per the executed Compensation Addendum that you have submitted to Sun West i.e. 2.75% Lender Paid Compensation.

1% is the Lender Credit to the borrower to be used to cover mortgage related closing costs.

If your borrower has a better quote through another lender, Sun West appreciates the opportunity to look at it and match / beat the offer. Please send your quote to <locks@swmc.com> with the loan number to review and get you a decision on the ability to match / beat the offer.

Mortgage Clause

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Please click here to access the Mortgage Clauses for Reverse and Forward Mortgage loans.

Pipeline Management

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Please send an email to the Broker Support team <broker@swmc.com> along with your request to start receiving “Your 90 day pipeline” alerts.

Yes, you can change the Pipeline view in SeeMyLoanStatus based on what categories you would like to have visible. Simply log in to SeeMyLoanStatus and select the “My Pipeline” button. Then select the “Columns” button on the top right hand of the page. You can then select what categories you would like to see within your pipeline by clicking and dragging the category from the right hand box to the left hand box.

For detailed instructions on how to change the categories of your pipeline view, please click here.

Pricing

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Login to the SeeMyLoanStatus site using “Price the Loan” and fill out the required fields. All the products matching your requirement and their pricing will be shown on the next page.

Rate Sheets

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You can download the Rate sheets from the Sun West website; or by logging into the SeeMyLoanStatus site, clicking on the “Hamburger” icon and selecting the “Download Rate Sheet” option from the drop down list.

Sponsor ID

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Sun West’s FHA Sponsor ID is 6443809990.

Submission

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The SeeMyLoanStatus web interface offers you the convenience of creating and submitting Pre-Qual / Pre-Approval / Complete Loan Applications to Sun West at any time and from anywhere in United States with access to the internet. It also allows you to submit lock requested loan applications.

The Correspondent Submission Checklist can be found in AllRegs by following this link.

The Correspondent Submission Checklist will provide you with a detailed breakdown of what is required to submit your loan for Purchase at Sun West.

Submission Checklist

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The list of documents required on a loan file varies depending on the Loan Program, Loan Purpose and whether the borrower is Salaried or Self-Employed.

You can download the list of documents required for your loan by updating the Loan Program, Loan Purpose, and Employment Type information on the "Submission Checklist" page of the Sun West website.

Sunsoft / SeeMyLoanStatus related issues

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Send an email to the Sunsoft Technical Support team <sunsoftsupport@swmc.com> along with the details of the issue you are encountering.

TILA-RESPA Integrated Disclosure Rule

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  • Loan Estimate must be disclosed to the borrower within 3 general business days of receiving the consumer’s loan application. Sun West reserves the right to cancel the loan in sunsoft on the 3rd business day of application if Sun West has not received a request to disclose the LE or Sun West is not provided with the broker’s disclosed LE by the end of 2nd business day.
  • Revised Loan Estimate must be disclosed within 3 general business days of the occurrence of a change in circumstance and should be received by the borrower 4 specific business days prior to consummation of the loan.

  • Once the LE is disclosed, a change in compensation plan will not be allowed unless it is documented that a change has been requested by borrower.

Sun West discloses the CD after the loan is Cleared to Close. It is not acceptable for the Settlement Agent to disclose the CD to the borrower. On purchase transactions, Sun West will require the Settlement Agent to provide the seller with the CD reflecting the actual terms of the seller’s transaction.

No, the TRID rule prohibits the imposition of any fee, except for a bonafide and reasonable Credit Report fee, before the borrower has received the LE and indicated their intent to proceed (ITOP) to the Creditor.

The borrower signing and dating the LE is not an ITOP. Borrowers should e-sign or wet sign the ITOP form.

Refer to the "TRID - Sun West Policy Overview" Training Guide available on Sun West’s website (Click here).

No, brokers are prohibited from issuing a Loan Estimate (LE) in Sun West’s name or using a Sun West Loan Number. While submitting any loan to Sun West, you must opt for either of the two options listed below. Irrespective of the option opted, broker is responsible for all other federal and state specific disclosures.

  1. Disclose the LE with a blank Lender Name and Loan ID. Broker disclosed LE’s must be provided to Sun West along with the loan submission, Written List of Service Providers (WLSP), and the Know Before You Owe tool kit that was disclosed to the borrower within 3 days of a loan application.
    Sun West will completely review the broker disclosed LE and written list of service providers. Sun West will proceed with the loan only if the disclosures are acceptable and in compliance with the TRID rule. If a broker does not provide WLSP along with initial LE disclosure request, then Sun West reserves the right to cancel the loan as an “Incomplete Application” on the second day of application.
  2. Request Sun West to disclose LE within one (1) business day of application.

Sun West charges a $995 Underwriting fee on all loans (except Streamline Refinances and HECMs) unless the “No Lender Fee” adjustment has been requested as part of the pricing. The “No Lender Fee” option may be requested to be charged at the time of the lock request.

The “No Lender Fee” adjustment is applicable to all programs except FHA Streamlines, USDA streamline assisted, VA IRRRLs and HECMs where an Underwriting Fee in the amount of $995.00 is not being charged to the borrower.

The cooling period waiver for a bona-fide financial emergency would be very rare and at Sun West’s discretion.

Once the revised LE or CD is sent to the borrower, it is your responsibility to contact the applicable recipients to immediately open the e-disclosure so that the 3 days mailbox rule can be reduced.

In order to reduce the three day mailbox rule on revised LE disclosure or CD disclosure, Sun West will require acknowledgement of receipt from

  • all consumers, in case of rescindable transactions, or
  • only the primary borrower, in case of non-rescindable transactions.

You can communicate change of circumstance request by sending an e-mail to leredisclosure@swmc.com. You must notify Sun West within 24 hours once you are aware of a valid change of circumstance.

You will be able to order any service on the loan only after three (3) specific business days from the initial LE sent date and a subsequent receipt of ITOP from borrower.
In case any service is to be ordered prior to completion of the three (3) specific business days from the initial LE sent date, then you will have to provide a borrower signed LE to Sun West and an ITOP that was received post the signing of LE. Only exception to this is for the Credit Report, which can be pulled prior to receipt of ITOP.

No, you are prohibited from ordering the appraisal prior to the borrower receiving the LE and providing an ITOP, even if you are paying for the appraisal fee up front with the intent to collect the fees at closing.

Sun West does not have any affiliates. If a service provider used on a loan is affiliated with your company, those fees will be subject to 0% tolerance. It is your responsibility to inform the Broker Support team broker@swmc.com whenever you have any new affiliate.

  • Sun West will do a thorough and complete review of the LE submitted for compliance and accuracy.
  • Sun West will require the appropriate change circumstance documentation in case of any re-disclosure of LE or CD to reset baselines for a change in circumstance.
  • Sun West will review the CD submitted for compliance and accuracy. Sun West will require signatures of all parties involved on the Final CD.
  • Sun West will require a copy of the seller CD to be provided separately on purchase transactions.
  • If a waiting period is waived on a loan due to a bona-fide financial emergency, it will be at Sun West’s discretion to purchase the loan.
  • If a variance/cure is due to be paid to the borrower, then evidence of payment should be provided prior to purchase.
  • Sun West reserves the right to issue a re-purchase request if any discrepancies are identified by Sun West or its investors after the loan is purchased by Sun West.

On loans where TILA-RESPA Integrated Disclosures are disclosed (TRID loans), loan is consummated after

  • a seven (7) business day waiting period from the initial LE being mailed to borrower(s), OR
  • a four (4) business day waiting period after the borrower receives the revised LE, OR
  • a three (3) business day waiting period after the borrower receives the initial CD.
Note: If a CD is re-disclosed in any of the following circumstances, an additional three (3) business day waiting period is applicable after the borrower receives the revised CD:
  • If the disclosed APR becomes inaccurate (increase by 0.125%)
  • If the loan product changes
  • If a prepayment penalty is added.

You can request a Loan Estimate to be prepared and issued to your borrower through SeeMyLoanStatus by selecting the “Request LE” button on the top menu. This feature will only be available prior to submitting your loan to Sun West.

For additional information and step by step instructions, please click here.

Turn Times

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Please click here to view the current Turn Times for each Loan Program and Loan Type.

Update Loan Information

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Send your request to the Loan Boarding team <loanboarding@swmc.com> along with the details required to be updated the system.

Upload Loan Documents

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The “Submit Documents” feature of SeeMyLoanStatus provides an easy way of uploading executed loan documents securely to Sun West’s Imaging system and assigning it to Sun West’s team for review.

You can also upload documents to the respective condition through “Loan Conditions” section of SeeMyLoanStatus.