USDP SCOUT

USDP Scout: $495 to perform the below services on behalf of the MLO.

Services Provided by USDP:

USDP can begin services once the application is complete, and all supporting documentation has been received and placed into the Borrower’s file. These specific services are as follows: 

  1. USDP will analyze 1003 after it is completed and alert the MLO of any deficiencies.
  2. USDP LOA collaborates with the client to collect any remaining paperwork and establishes strong relationships with the client and all parties involved.
  3. USDP LOA prepares a full package to be sent to your processor for submission.
  4. USDP LOA will connect with the client once conditional approval is obtained, finalize the required documentation, and provide ongoing follow-up.
  5. USDP LOA will monitor the status of the loan and provide updates to the MLO.
  6. USDP LOA returns to MLO or processor all documents that were collected.

Required Documents and Tasks List from MLO:

  1. MLO takes initial application with the Borrower.
  2. MLO will coordinate with the USDP and confirm a completed loan application is received.
  3. MLO will calculate the Borrower’s Income.
  4. MLO addresses any deficiencies in the FNMA form 1003 or URLA.
  5. MLO obtains a fully executed, legible sales contract, including all addendums.
  6. MLO will float/lock the rate. USDP will not lock the loan to avoid any timing issues and the risk of re-pricing.
  7. MLO will approve the Closing Disclosure to be sent to the Borrower.

*** USDP will NOT take applications from Borrowers or discuss mortgage loan rates or terms. After the MLO takes the initial application, assistance in completing the application for an MLO will be provided.
USDP does not handle Post Closing items.

Submit your Scout File

Email Al Tiede:
files@usdataprocessing.com

Attach your Encompass, Point, or LendingPad file
Make sure the file is in Fannie Mae 3.2 or MISMO 3.4 format

Attach Your completed User Agreement
Download user agreement  here

As soon as we receive your file, we will send you a confirmation receipt and start the process.