Shipping Instructions

| Previous | TOC | Next |

SHIPPING SUBMISSION INSTRUCTIONS

The following documentation is required on all loans.

Note:

Original and one copy, endorsement to: American Southwest Mortgage Corp. signed by Vice President or above of selling lender.

Mortgage:

One certified copy. Original to follow after recording.

Assignment:

One certified copy, fully executed.  Original to follow after recording.  Assign to: American Southwest Mortgage Corp.

Title Commitment:

Original title policy to follow.

Survey:

If short form title policy is provided, survey is not required.

Termite Certificate:

Signed by Borrowers.

Proposed construction (in OK) should include Termite Soil Treatment Guarantee.
 
Existing properties should be HUD form 2053 for FHA/VA reflecting no live infestation.  If     infestation indicated evidence of treatment and the chemical used must be indicated; if damage has been reported, the termite certificate must indicate if any damage  is structural and requires repairs, and that any repairs have been completed.

HUD form or individual inspector's reportacceptable on Conventional loans

Hazard Insurance Policy:

BINDERS ARE NOT ACCEPTABLE.

PURCHASES: Original policy and copy of check for first year's premium.

REFINANCES: Copy of existing policy, mortgagee change request, proof that premium is paid through expiration date.

COVERAGE: Must insure at least the loan amount

DEDUCTIBLE: Greater of $1000 or 1% of face amount of policy.

Copy of hazard insurance endorsement request changing mortgagee to  .  Mortgagee clause should read:    

American Southwest Mortgage Corp, it's successors and/or assigns
3503 NW 63rd St. Suite 500
Oklahoma City, OK 73116-2238

Notice of Transfer or Sale of Servicing:

Borrower should be referred to the Post Closing Department at 405-848-3600 or 888-593-1003. Payments should be made to 3503 NW 63rd St. Suite 500 Oklahoma City, OK 73116-2238

| Previous | Top | Next |