Fillable Form 3006 (Flagstar Bank)

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Form 3006 (Flagstar Bank)

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  • 39 check-boxes
  • 661 other fields

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File type: PDF

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Non-Delegated TPO Compliance Certification
III. Forms and Disclosures 1 of 18 Document #3006
Return to Top 05/15/2019
COMPANY INFORMATION
Company Name:
Seller ID:
,
,
,
Address (Street, City, State, Zip):
Website Address:
Primary Company Contact:
Phone:
Email Address:
Fax:
Secondary Company Contact:
Phone:
Toll Free/Collect Call Phone Number. Required for Correspondents only:
Email Address: Fax:
Please answer all questions presented below, execute the Certification Statement on page 11 and return completed
questionnaire with required documentation, via email to your Account Executive.
If
applying for AIR approval or currently AIR approved, please answer all questions on the AIR Compliance Questionnaire
attached as appendix A, sign the certification, and return via email to your Account Executive.
List the names, titles and percentage of ownership for each principal officer. The percentage of ownership must equal
100%. For Financial institutions, list the names and titles of senior management staff that are responsible for the day to
day operations of the mortgage division.
Principal Officer Name Title
Percentage of
Ownership
Ar
e the day to day operations of the company managed by an individual other than a principal officer?
YES
NO
If YES, list the names and titles of the senior management staff responsible for the day to day
operations of the company.
Name
Title
Does your company have any registered DBAs?
YES
NO
If YES, list all names, addresses and states in section one.
Does your company have any branch offices in addition to this address?
YES
NO
If YES, provide a list of all branch names and locations and of the additional locations considered net
branches (leases/expenses paid by branch)? Please list all information below i.e. branch address, City,
State, Zip, branch Managers Name, Branch Phone Number, Branch Fax Number, and Primary Email
Address on the Branch Office List page.
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Does your company operate out of non-tradition branch (non- commercial space)?
YES
NO
If YES, please indicate type of non-traditional branch (house etc).
Are any of your office space(s) shared with another business? YES NO
If YES, list company names and affiliation if any.
Company
Affiliation (if applicable)
If extra lines are needed please see section two.
Does your company or any of its owners or its employees have any affiliated business arrangements,
including but not limited to part or full ownership in an Escrow Company, Title Company, Closing
Attorney, Appraisal Company, Real Estate Company, Attorney, Home Improvement, Construction,
Loan Modification, Tax Preparation, Credit Repair or Credit Counseling?
YES
NO
If YES, provide a list all types, company names, owned by, addresses and ownership percentages
owned by information and type of services offered.
Company Name
Company Type
Ow
ned By
% Ow
ned
Address
City
State
Zip
If extra lines are needed please see section three.
Does your company utilize third party companies for any service in connection with mortgage loans
such as processing, quality control, etc.?
YES
NO
If YES, provide a list with Business Name, Address, City, State, and Zip
Business Name
Address
City
State
Zip
If extra lines are needed please see section four.
REG
ULATORY COMPLIANCE
Does your company have written comprehensive policies and procedures that are up to date on the following regulatory
compliance rules? Please check those that you currently have in place.
RESPA, which at minimum covers the key elements of RESPA coverage, Identifies the disclosures associated with
the home buying process and describes RESPA related escrow account procedures
TILA which at a minimum describes the disclosure of all credit terms and rates in a uniform and meaningful manner
that always includes the cost of credit expressed by the annual percentage rate (APR), the disclosure requirements
of Reg. Z including the differences between oral and written disclosure, timing and requirement of disclosures,
understanding of all loan products and the requirement of the different types of loans and mortgage requirements for
individuals purchasing, refinancing or constructing their principal dwelling.
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III. Forms and Disclosures 3 of 18 Document #3006
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LO Compensation is at all times compliant with any and all state, federal, and local laws, regulations and or
ordinances, including but not limited to those related to compensation of its loan originators as defined by
Regulation Z and that at no time does this compensation exceed these or high cost limitations. It is also agreed that
upon Flagstar
Banks request, the loan originator compensation policy shall be provided for review.
SAFE Act/Licensing covering the requirements of licensure of mortgage loan originators according to the national
standards and the participation with the Nationwide Mortgage Licensing System and Registry (NMLS) as well as the
SAFE Act, which serves to enhance consumer protection and reduce fraud through the setting of minimum
standards for licensing and registration of state licensed mortgage loan originators.
BSA/Anti-Money Laundering including any act or attempt to disguise the source of money or assets derived from
criminal activities that can involve the proceeds of a wide range of criminal activities.
GLBA/Privacy including but not limited to “nonpublic personal information” as defined in Subtitle A of Title V of the
Gramm-Leach – Bliley Act (GLBA.(GLB). By executing this document you agree that you will use the information
solely for the purpose for which the information is disclosed to it by Flagstar Bank or by any other party or as
otherwise permitted under GLBA or the implement Privacy Regulations in the ordinary course of business to carry
out the purposes for which the information was disclosed to your company. You agree to maintain the confidentiality
of the information. The purpose of this information is to limit the right of your company to disclose such information
for purposes other than allowed and prevents you from sharing an actual or potential Flagstar Bank customer’s
“nonpublic personal information” with others.
Fair & Responsible Lending, which at a minimum includes your companies understanding of the significance of
Fair and Responsible Lending for our customers and the communities we all serve. You are committed to upholding
the standards of Fair and Responsible Lending in all aspects of our business practices. A commitment to service our
customers’ ethically and fairly is the cornerstone of our culture, which emphasized product choice, fair pricing and
credit terms and clear disclosure. Flagstar Bank serves all applicants without regard to age, color, disability, familial
status, marital status, national origin, race, receipt of public assistance income, religion, sex, use of right under the
Consumer Credit Protection Act or other prohibited basis consistent with state and local laws, as well as safe and
sound lending practices. All customers are to be treated fairly and equitably, whether through Retail, Wholesale or
Correspondent divisions and through the life of their credit transactions with Flagstar Bank. Flagstar Bank requires
adherence to applicable federal, state and local Fair and Responsible Lending laws, statues, regulations,
commentary and principles, including the Equal Credit Opportunity Act (ECOA), the Fair Housing Act (FHA), the
Home Mortgage Disclosure Act (HMDA), the Community Reinvestment Act (CRA), and Section 1031 of the Dodd
Frank Act relating to Unfair, Deceptive or Abusive Acts or Practices (UDAAP).
Fair Credit Reporting Practices, which include using a consumer report to exercise fairness, confidentiality,
accuracy in preparing, submit, using and disclosing credit information, regulating the reporting, and use of consumer
reporting agencies to contain only impartial, accurate, relevant and recent information.
USA Patriot Act that requires a Customer Identification Program. To be compliant with this Act, the following
language must be made available to each applicant: “To help the government fight the funding of terrorism and
money laundering activities, federal law requires all financial institutions to obtain, verify and record information that
identifies each person who opens an account. What this means for you: When you open an account, we will ask for
your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see
your driver’s license or other identifying documents.” The following information must also be submitted on all
applicants and co-applicants before any credit applicants can be processed: Customers Full Name, Physical Street
Address, Date of Birth and Social Security Number.
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Does your company provide regulatory compliance training to employees on a regular basis, including
all of the following TRID, RESPA, TILA, LO Compensation, SAFE Act/Licensing, BSA/Anti-Money
Laundering, GLBA/Privacy, Fair & Responsible Lending, Fair Credit Reporting Practices, and USA
Patriot Act?
YES
NO
If NO, please explain below:
Does your company provide training to employees for any other regulatory compliance?
YES
NO
If YES, is the training program managed internally or do you utilize an external resource.
Internal
External
If YES, please list the type of training and frequency?
Does your company offer periodic training to employees on NMLS? YES NO
If YES, is the training program managed internally or do you utilize an external resource?
Internal
External
How often does the training occur?
Who within your company is responsible for monitoring NMLS eligibility for each loan originator and in each state your
company conducts business?
Name Position
Who within your company is responsible for monitoring investor guideline changes and updates your policies and
procedures?
Name Position
FAIR AND RESPONSIBLE LENDING TRAINING
Has Flagstar’s Fair and Responsible Lending Course and attestation been completed? If not, this
course must be completed by the deadline. This course is required for all Brokers. Correspondents
that are approved as a FHA Sponsored Originator are also required to complete the course.
YES
NO
If NO, please contact your Flagstar Bank Account Executive for instructions on taking the required
course.
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TILA-RESPA INTEGRATED DISCLOSURES RULE (TRID)
Do you have written comprehensive policies and procedures that are up to date specifically covering
TRID?
YES
NO
Have you created any job aides or user guides specifically to provide instructions of how to
prepare/provide disclosures in compliance with TRID?
YES
NO
QUALITY CONTROL
Does your company have a Quality Control plan?
YES
NO
If YES, is the QC function performed internally or by an external vendor?
Internal External
If internal, is the person(s) responsible independent from production functions (i.e. sales, credit, etc.)? YES NO
If external, what is the name of the vendor you utilize?
How often does your QC function perform testing? Monthly Quarterly Annually
Does your QC function provide testing results to senior management and require management review
and responses addressing deficiencies?
YES
NO
Does your company utilize any fraud detection tools during the origination or underwriting process? YES NO
If YES, specifically does your company perform any of the following:
4506T YES NO
Verbal VOE
YES
NO
AVMs YES NO
Other
YES
NO
Upon discovery of any discrepancies, please describe below how these are handled? Please fill in below:
SECURITY
How does your company store records that contain nonpublic personal information, i.e. customer applications, credit
reports, etc.?
Does your company have written procedures on securing hard copies of records which contain
nonpublic personal information?
YES
NO
Does your company utilize a paperless storage system? YES NO
If YES, what is the name of the service?
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DISASTER RECOVERY
Does your company have a written disaster recovery plan?
YES
NO
If YES, do you manage internally or do you utilize an external vendor?
Internal
External
FINANCIAL REPORTING
Does your company utilize an independent CPA for financial reporting?
YES
NO
If YES, are your financial statements audited or compiled?
Au
dited Compiled
When is your fiscal year end?
LICENSING
I acknowledge and certify that the Company is licensed to originate HELOC loans in the states that the
Company is licensed in, excluding the State of Texas.
YES
NO
MI
SCELLANEOUS
Is your company a Freddie Mac Seller/Servicer?
YES
NO
If YES, does your company check to ensure all employees are not on the Freddie Mac FHLMC)
Exclusionary List? This includes management and those involved in the origination of mortgage loans
(including application through closing).
YES NO
Does your company have hiring procedures for all employees, including management, involved in the
origination of mortgage loans (including application through closing) that includes:
YES
NO
Performing criminal background checks?
YES
NO
If NO, please explain below:
Verifying if employees are listed on the US General Services Administration (GSA/SAM) Excluded
Parties List?
YES NO
If NO, please explain below:
Verifying if employees are listed on HUD’s Limited Denial of Participation List (LDP List)?
YES
NO
If NO, please explain below:
Non-Delegated TPO Compliance Certification
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If YES, to any of the following questions, please explain and or attach documentation.
Has your company had any adverse findings by any agency or regulatory examiner within the past five
years, including but not limited to Fannie Mae, Freddie Mac, HUD, VA, private mortgage insurers or
state examiners?
YES NO
If YES, please explain below:
Has your company or its Principals ever been subject to any legal or regulatory enforcement action,
regulatory complaints (including, but not limited to federal regulatory agencies, States Attorneys
General or Better Business Bureau), cease and desist orders, public censure, legal or regulatory fines,
judgment, or damage awards?
YES
NO
If YES, provide the date of such action, facts related to such action and remediation or response to
such action below:
Has your company, or any officer of the company ever had a mortgage or other professional license
suspended, revoked or received any other disciplinary action from a regulatory agency?
YES
NO
If YES, please explain below:
Has the Applicant, its owners, its broker(s) of record or any of its employees (i) had any federal
complaints filed against them with a federal or state mortgage regulatory authority, (ii) been found in
violation of any federal or state regulatory statues or regulations, (iii) had an order entered against them
by a federal or state regulatory authority or (iv) been denied or had any registration/license by a federal
or state regulatory authority?
YES
NO
If YES, please explain below:
Verifying if employees are listed on the Federal Housing Finance Agency (FHFA) Suspended
Counterparty Program (SCP) list?
YES
NO
If NO, please explain below:
Non-Delegated TPO Compliance Certification
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Has your company been declined or suspended from doing business with an investor within the past
five years?
YES
NO
If YES, please explain below:
Is there any pending litigation with your company or any of its principal owners or officer?
YES
NO
If YES, please explain below:
Has your company or its Principals ever been the subject of any material litigation or arbitration related
to the Fair Lending practices over the last year?
YES NO
If YES, generally describe the matter and the resolution of such matter below:
Has your company had a name change, change or ownership or change in company structure since
initial approval with Flagstar Bank?
YES
NO
If YES, please explain below:
Are there any civil or criminal proceedings against you or your company, or civil or criminal convictions,
plea or nolo contendere or plea to lesser charge entered against you or your company that involve
theft, fraud, dishonest dealings or moral turpitude?
YES
NO
If YES, please explain below:
Have any of your company’s principal owners or officers ever been convicted of a felony?
YES
NO
If YES, please explain below:
Non-Delegated TPO Compliance Certification
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Has your company ever been required to repurchase a loan by any of its investors?
YES
NO
If YES, please explain below:
Do you have any outstanding repurchase/make whole demands pending? YES NO
If YES, to either of these please explain below:
Has your company ever had to repurchase a loan from, or indemnify, any investors in the past twenty
four months, including pending repurchases?
YES
NO
If YES, please provide details within Repurchase/Indemnification Chart
Non-Delegated TPO Compliance Certification
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REPURCHASE/INDEMNIFICATION CHART
Borrower Name Investor Loan Type
Loan
Status
Notice/Indemnification/
Repurchase
Date of
Claim/Notice
Repurchase
Issue
Original
Loan
Amount
Original
LTV
Repurchase/
Indem/Notice
Amount
Date of
Resolution
Status
Totals
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DIVERSITY AND INCLUSION
Is your company currently certified as a minority owned company?
YES
NO
If NO, you are not required to answer the remaining questions in this section. Thank you for your
participation.
In which states and through what organization(s) are you certified?
Organization
State
Under what category are you registered as minority owned? Check all that apply.
Women
Disable Individuals
Service Veterans
Member of the LGBTQ community
African American
Hispanic American
Native American
Asian Pacific American
Indian American
Other: Please explain:
How many years have you been incorporated as a minority owned company?
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Are you a participating member of any organizations as a minority owned company?
YES
NO
If YES, please name those organizations in which you are a participating member as a minority owned
company and number of years of membership.
Organization Name
How long have you been doing business with Flagstar Bank as a minority owned company?
Please list any additional products and services you provide that Flagstar Bank is not contracted with
you for?
The undersigned hereby represents warrants and certifies that the information contained herein is complete
and accurate in all material respects. Furthermore the undersigned authorizes Flagstar the right to request and
receive additional documentation to support the answers provided herein.
Agreed to and accepted by:
Signature:
Name Printed:
Title:
Date:
Company Name:
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SECTION ONE
(Back)
DBA Name Address City State Zip
SECTION TWO
(Back)
Company
Affiliation (if applicable)
SECTION THREE
(Back)
Company Name
Company Type
Owned By
% Owned
Address
City
State
Zip
Company Name
Company Type
Owned By
% Owned
Address
City
State
Zip
SECTION FOUR
(Back)
Business Name
Address
City
State
Zip
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BRANCH OFFICE LIST
(Back)
Branch Address:
Manager Name:
Branch Phone Number:
Branch Fax Number: Primary Email Address:
Branch Address:
Manager Name:
Branch Phone Number:
Branch Fax Number: Primary Email Address:
Branch Address:
Manager Name:
Branch Phone Number:
Branch Fax Number:
Primary Email Address:
Branch Address:
Manager Name:
Branch Phone Number:
Branch Fax Number:
Primary Email Address:
Branch Address:
Manager Name:
Branch Phone Number:
Branch Fax Number:
Primary Email Address:
Branch Address:
Manager Name:
Branch Phone Number:
Branch Fax Number:
Primary Email Address:
Branch Address:
Manager Name:
Branch Phone Number:
Branch Fax Number:
Primary Email Address:
Branch Address:
Manager Name: Branch Phone Number:
Branch Fax Number:
Primary Email Address:
Non-Delegated TPO Compliance Certification
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APPENDIX A
AIR Compliance Questionnaire (to be completed by AIR COMPLIANT CUSTOMERS ONLY)
The requirements for each application type are outlined below in 3 separate sections. Please indicate which
type of AIR application(s) your company will be applying for and complete each corresponding section.
Select all that apply:
Using AMC
Using Firewall
Managing Own Panel of Appraisers
APPRAISER INDEPENDENCE REQUIREMENTS (AIR) - COMPLIANCE QUESTIONS
The General Information section must be completed by all applicants. The Certification Statement on last page
must be executed by a principal officer. The completed questionnaire with the required documentation must
be returned via email to your Flagstar Account Executive.
GENERAL INFORMATION
1.
Does your company or any of your company’s employees have full (or partial) ownership in or
any other affiliation with an Appraisal Company, Appraisal Management Company and/or
Firewall?
YES
NO
If YES, provide the following:
• Company name(s), address(es) and contact information for the Appraisal Company and AMC
in which you have ownership or other affiliation with
• Contact your Flagstar Account Executive to complete the ABA Application
• Organization Chart of AMC/Firewall
SECTION I – COMPANY USING AMC
1.
Does your company exclusively use an Appraisal Management Company (AMC) for any appraisal
orders?
YES
NO
If YES, provide the name of the AMC(s), addresses and contact person(s) for each AMC used by
your company (required). If NO, complete Section II.
2.
Does your company supply a list of your approved appraisers to your AMC(s)?
YES
NO
If YES, Section II must be completed.
3.
Does your company supply a list of your ineligible appraisers to your AMC(s)?
YES
NO
If YES, your procedures must address how appraisers are deemed ineligible and/or disapproved.
Attach procedures or note page # in your general appraisal procedures.
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All Correspondents are required to provide Flagstar Bank with the following prior to being approved:
1. AMC address(es) & contact person(s) used by your company.
2. Written Appraisal Ordering Policies/Procedures that ensure the appraisal ordering process meets or
exceeds all Appraisal Independence Requirements.
3. An executed/signed Correspondent Certification Statement (directly below).
SECTION II – COMPANY USING FIREWALL AND/OR MANAGING OWN PANEL OF APPRAISERS
1.
Does your company exclusively use a Firewall and/or manage own panel of appraisers for any
appraisal orders?
YES
NO
If YES, provide the name of the Firewall(s), addresses and contact person(s) for each Firewall
used by your company (required if using a firewall).
2.
Does your company have an employee(s) managing the appraisal ordering process that is clearly
separate and independent of the Sales and/or Mortgage Production function?
YES
NO
If YES, provide the name of the person(s) ordering appraisals and indicate other responsibilities
that they have (required).
Name:
Responsibilities:
3. What is the compensation structure of the person(s) ordering appraisals?
Hourly
Hourly + Bonus/Commission
Salary
Salary + Bonus/Commission
4.
If the person(s) ordering appraisals receives bonus/commission pay, describe the compensation
structure?
5. Does this person originate loans? YES NO
6. Who does the person(s) ordering appraisals report to?
Name:
Title:
7.
Does this person originate loans?
YES
NO
8.
Who is responsible for adding and/or removing appraisers from your appraiser panel?
This employee must be indicated on the organizational chart/hierarchy.
Name:
Title:
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9.
Does this person originate loans?
YES
NO
10.
Does your company supply a list of your approved appraisers to your Firewall(s)?
YES
NO
If YES, your procedures must address how appraisers are approved. Please note the page
number where this is outlined in your appraisal policy/procedures.
11. Does your company supply a list of your ineligible appraisers to your Firewall(s)? YES NO
If YES, your procedures must address how appraisers are deemed ineligible and/or disapproved.
Please note the page number where this is outlined in your appraisal policy/ procedures.
All Correspondents are required to provide Flagstar Bank with the following prior to being approved:
1. Firewall Name(s), address(es) & contact person(s) used by your company (if applicable).
2. Organizational chart/hierarchy, including the reporting lines of the employee(s) responsible for
managing the appraisal ordering process and sales/production process. This also includes the
employee that is responsible for adding/removing appraisers from appraiser panel.
3. Written Appraisal Ordering Policies/Procedures that ensure the appraisal ordering process meets or
exceeds all Appraisal Independence Requirements.
4. Detailed appraisal ordering/tracking reports. Provide sample logs, containing but not limited to loan
number, property address, name of person placing the order and title, lender name, appraiser name
and effective date of value.
5. Detailed appraiser rating and/or monitoring procedure. Procedures must include the type of periodic
monitoring and the frequency. Provide a sample
6. Engagement Letter used when procuring appraisals.
7. An executed/signed Correspondent Certification Statement (directly below).
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CORRESPONDENT CERTIFICATION STATEMENT
I certify the above information is true and correct and that I have read and understand the Appraiser
Independence Compliance Guidelines, Doc. #4906, the FHA Appraiser Independence Compliance guidelines,
Doc. #9024 (if applying for FHA Appraisal Independence) and Doc. #4811, Appraiser Independence
Regulations and Guidelines.
Principal Officer’s Signature
Date
Typed Name
Date
For questions or assistance completing this form in its entirety, please email or call one of these Flagstar Bank
Associates:
WLSC@Flagstar.com
866-945-9872 Option #3, Option #4, Option #2.
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Form 3006 (Flagstar Bank)

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Completed 18 July 2020

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