📑 Pre-Approval Process — Step by Step

Your exact NEXA workflow on every loan, from application to pre-approval. Follow it in order.
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The 5 principles that run through every step

1

Complete the Loan Application

  • Borrower submits the online application (the 1003).
  • Then call the borrower and go over the application line by line, as if you were taking it over the phone — to make sure everything is thorough and accurate.
  • All applicants must be on the phone for the review.
2

Send Upfront Compliance Docs for E-Signature

Send these for e-signature:
  • Borrower's Authorization (compliance)
  • Privacy Policy (upfront compliance)
  • Mortgage Loan Origination Agreement (upfront compliance)
  • State-Specific Disclosures
Also remember (TRID): once the application is complete (name, income, SSN, property address, est. value, loan amount), the Loan Estimate — the borrower's official written rate/fee quote — must go out within 3 business days. This is the "details in writing → real quote" step.
3

Pull the Credit Report

  • The client pays, or you pay — your judgment. If you're ~90% certain this is a deal and they'll commit to you, you can cover it. Base it on the conversation + the application info.
4

Structure the Loan

  • Determine the best loan options for the client's financial profile.
"We are intent listeners. We aren't order takers. Why are the clients saying what they're saying? Peel the onion back and find out how to sell the loan. Ask the right questions and they'll tell you how to sell them."
💡 This is where your Call Companion — Product Matcher earns its keep: plug in occupancy, income, credit, property & loan size to see which products/lenders fit.
5

Run the Initial AUS

  • Run Automated Underwriting (DU/LPA for agency). Read the AUS findings to get the exact conditions you'll need up front.
6

Request Supporting Documents

  • Gather the necessary documents from the client.
Think 5 steps ahead: Which account(s) are being used for the down payment and closing costs? Are we liquidating any funds to close? Get ahead of it.
Tell the borrower NOT to move money around during the loan process. You are the leader — get ahead of what's needed so nobody scrambles during approval.
7

Review Submitted Documents

  • Verify the provided documents align with the verbal information the client gave you. (Catch mismatches now, not in underwriting.)
8

Reassess the Loan Details

  • Double-check all figures — including DTI ratio — to ensure the structure meets program requirements.
  • Remove any bank accounts, income, or info you don't need to close. Loans are pass/fail — there's no A/B/C grade. Don't add anything that isn't needed. The less you need from the client, the better you position yourself for success.
9

Re-Run the AUS

  • Confirm eligibility and approval status after updating the information.
10

Issue Pre-Approval / Submit to Processing

  • Provide the client with a formal pre-approval letter.
  • If it's a live loan, you've done everything for a smooth transition: fill out the processing form for Judy and push the loan.

What happens after you push to processing

  1. Processing — collect remaining docs, order the appraisal and title.
  2. Underwriting — lender issues a conditional approval; you/processor clear the conditions (PTD).
  3. Clear to Close (CTC) — all conditions met.
  4. Closing Disclosure (CD) — final written terms go out; 3-business-day wait before signing.
  5. Sign → Fund → Record — borrower signs with a notary/signing agent (never your own originated loan), the loan funds, and you earn your commission.