Great news regarding the Jumbo Condition Process!

To eliminate discovering issues on jumbo loans at time of CTC review we want the opportunity to identify potential problems earlier in the loan process.

Starting immediately categories of conditions may be resubbed for review instead of waiting for all conditions to be received.

If you have all the conditions for a particular category (credit, income, assets or property) then please resubmit the file for review to be able to clear that set of conditions.  This means that you do not need to wait to get the income conditions cleared because you are waiting on assets documents.

We ask that you do not piece mail conditions within the same category – but rather group the conditions together.  Some examples are given below for review.

Example #1: all asset related conditions would be all pages of all bank statements including paper trailing source of large deposits, proof of liquidation, terms of withdrawal for retirement accounts, etc.  Do not submit partial documentation such as one bank statement that is insufficient for qualifying or a retirement account without the TOW.

Example #2: all income related conditions would be everything needed to determine/calculate qualifying income.   Do not submit partial documentation such as a single paystub when trying to use additional sources like bonus income which requires a documented 2-year history.

Example #3: all credit related conditions would be everything needed to clear a particular credit item.  Such as providing a mortgage statement to document what property is secured by a mortgage, documenting the payment history of that mortgage up to month of funding and documenting the PITIA of that property.  Do not submit partial documentation such as just the property tax figure and not the HOI.

Please use the jumboreviews@benchmark.us mailbox for any jumbo related questions.