FUNDING CHECKLIST WHOLESALE LOANS Borrower:

Loan #:

Broker:

Acct Mgr:

AE:

Investor: Warehouse Bank Eligible: Int Rate:

BOTS

Horizon

Loan Amt:

Loan Type: Purpose:

B of I

Conv Purchase

Sunwest

LTV:

FHA

VA

C/O Refi

USDA Rate/Term Refi

Property Type:

SFR

PUD

Occupancy:

Owner

Non Owner

1st Pmt Date:

PPB

Condominium

Viewpoint

CLTV:

Other Streamline Refi 2—4 Units

2nd Home

RTC Expires:

Rate Lock Exp:

Lender Instructions 1.

All pages signed by the Escrow Officer

2.

All pages signed by the Borrower(s)

3.

Loan amount, rate and term match DataTrac

4.

Credit for rate or loan discounts matches the marketing screen in DataTrac and the Lock Confirmation

5.

Lender Paid Compensation: Matches Broker approved amount and disclosures

6.

Borrower Paid Compensation: Matches disclosures

HUD 1 7.

Borrower name(s) and address are correct

8.

Seller(s) match purchase contract and prelim (purchase only)

9.

Lender is AFN

Yes

No

N/A

Yes

No

N/A

10. Sales price matches purchase contract 11. Loan amount matches approval, Deed, Note, etc. 12. Fees match Lender’s Instructions 13. All loans paid off per underwriting approval 14. Payoff Lender matches the demand 15. All disbursements of $5000 or more (unless recorded lien) have an invoice or other evidence disbursement is valid (U/W to review) 16. Hazard insurance premium is paid 17. Impounds match Initial Escrow Account Disclosures (IEAD) 18. Cash back to Borrower does not exceed limit for program or loan type AFN-WS-F-Fun_Cklst.pdf • Rev. 03/15/2013

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FUNDING CHECKLIST WHOLESALE LOANS HUD 1 (Continued)

Yes

No

N/A

Yes

No

N/A

Yes

No

N/A

19. Seller credit does not exceed guidelines/approval and does not exceed actual costs 20. Lender credit does not exceed actual costs 21. All taxes are paid current 22. Section 700: commission total does not exceed 8% 23. Deposits to Escrow are documented and sourced 24. Estimated Settlement Statement/HUD1 is signed by Seller(s) and/or Borrower(s) 25. FHA Purchase: Borrower has minimum 3.5% investment 26. FHA Streamline: MIP refund matches amount on FHA Connection printout for month closing and compared to the max mortgage worksheet prepared by the Underwriter 27. Impounds: Conventional loan above 80% LTV impounded; or FHA/VA loan impounded (at any LTV) Note 28. FHA Case Number matches FHA Connection 29. Date on the Note matches all other loan documents 30. Property address matches prelim and appraisal 31. Loan amount matches DataTrac 32. Loan amount matches AUS 33. First payment date is correct 34. Executed properly (signed the same as name typed on loan docs) 35. ARM: Caps and Margins match the rate lock and DataTrac Deed of Trust 36. Date matches the date on the Note 37. Vesting: Matches prelim for refinance or Grant Deed for purchase 38. Legal description is typed or attached 39. Loan amount matches DataTrac 40. Loan amount matches AUS 41. Property address matches prelim and appraisal 42. County and APN match prelim 43. Condo/PUD: Association name matches appraisal 44. Borrower(s) initials on all pages (or none; cannot be partial) 45. Executed properly (signed the same as name typed on loan docs) AFN-WS-F-Fun_Cklst.pdf • Rev. 03/15/2013

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FUNDING CHECKLIST WHOLESALE LOANS Deed of Trust (Continued)

Yes

No

N/A

Yes

No

N/A

Yes

No

N/A

Yes

No

N/A

46. Applicable rider boxes are checked 47. Appropriate riders are attached 48. Notary is complete 49. Notary date is on or after date docs signed Grant Deed 50. Vesting matches our Deed of Trust 51. Seller matches prelim and HUD1 52. Signed and notarized 53. Legal description is typed or attached Interspousal or Quitclaim Deed 54. Vesting matches our Deed of Trust 55. FHA/VA (non-streamline): Spouse’s name matches spouse’s credit report 56. Signed and notarized 57. Legal description is typed or attached Hazard Insurance 58. Borrower name(s) correct 59. Property address matches prelim 60. Loan number is correct 61. Mortgagee Clause is correct 62. Inception date is on or prior to the funding date 63. Expiration date is correct (Purchase: 1 yr; Refi: 3 months remaining) 64. Coverage is correct (lesser of loan amount or replacement cost) 65. Deductible is within guidelines (lesser of 5% of dwelling or $1000) 66. Agent name, address and phone number are listed 67. Policy number listed 68. Annual premium listed 69. Premium: Paid in full 70. Premium: Amount due listed correctly on the HUD1 71. Non-owner or 2—4 Units: 6 months’ rent loss coverage or loss of use 72. Condo: Master insurance policy is included 73. Condo: Master insurance policy includes fidelity bond, employee Dishonesty or director/officer coverage AFN-WS-F-Fun_Cklst.pdf • Rev. 03/15/2013

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FUNDING CHECKLIST WHOLESALE LOANS Hazard Insurance (Continued)

Yes

No

N/A

Yes

No

N/A

Yes

No

N/A

Yes

No

N/A

Yes

No

N/A

Yes

No

N/A

74. Condo: Master policy includes HO-6 (if not, separate HO-6 policy) 75. Condo: HO-6 coverage is a minimum of 20% of appraised value and is impounded Final RegZ and Itemization of Amount Financed 76. Assumption: Proper box marked (Conv = No; FHA/VA = Yes) 77. Fees properly shown as part of finance charges 78. Properly signed and dated 79. APR from last disclosed TIL: did not increase by more than 1.25% on loan docs 80. APR last disclosed TIL

Final APR

Difference

Rescission (N/A for Purchases or N/O/O Refinances) 81. Dates are correct 82. Borrower(s) initialed dates (both places if dates amended) 83. Borrower(s) signed/dated correctly 84. Borrower(s) signed/dated correct area of document Lock Confirmation 85. Loan amount matches approval and loan docs 86. Interest rate matches approval and loan docs 87. Loan term, LTV and impounds match approval and loan docs 88. Cost or Credit for pricing/rate is disclosed correctly on loan docs 89. ARM: Margin and Index match loan docs MI Approval and Certification

(Conv Loans > 80% LTV Except DU Refi Plus, LP Open Access, Homepath)

90. Borrower name(s) correct 91. Address is correct 92. Loan amount is correct and matches 1008, AUS and DataTrac 93. MI amount matches Initial Escrow Account Disclosure (IEAD) 94. Percent of coverage matches UW approval or AUS requirement 95. 2 months reserves included on HUD1 96. Funder to activate MI at Funding Final 1008/92900LT/VA Loan Analysis 97. Loan amount matches loan docs, DataTrac, AUS and Lock 98. Interest rate matches loan docs, DataTrac, AUS and Lock AFN-WS-F-Fun_Cklst.pdf • Rev. 03/15/2013

Page 4 of 8

FUNDING CHECKLIST WHOLESALE LOANS Final 1008/92900LT/VA Loan Analysis (Continued)

Yes

No

N/A

Yes

No

N/A

Yes

No

N/A

Yes

No

N/A

Yes

No

N/A

Yes

No

N/A

99. Loan purpose, type, term & LTV match loan docs, DataTrac, AUS & Lock 100. Total monthly payment matches amount on first payment letter (all changes go back to Underwriting) Final 1003 101. Borrower(s), property address, loan amount and rate match loan docs, DataTrac, and AUS 102. HMDA section completed for all borrowers 103. Occupancy box on page 4 matches lock confirmation, AUS, DataTrac 104. Borrower(s) signed/dated; signature(s) match/es initial 1003 sig(s) 105. LO signed/dated; signature matches initial 1003 signature 106. 1003 is in Broker’s name Final HUD 92900A or VA 26-1802a 107. Page 1: Signed by LO or Processor and dated with final 1003 108. Page 2: Signed by Borrower(s) in 2 places; dated with final 1003 109. Page 3: Completed/signed by Underwriter; approval has not expired 110. Page 4: Signed by Borrower(s) and dated with final 1003 111. Page 4 (bottom): Not signed/dated until after loan is recorded (Funder/Shipper to sign at that time) 112. 92900A or 26-1802a is in AFN’s name Credit Report 113. Borrower name(s) and SSN(s) match loan docs 114. No older than 90 days at time of funding 115. Correct credit report pulled through AUS findings (compare credit reference number) Purchase Contract 116. Signed by Buyer, Seller, Listing Agent and Selling Agent 117. All pages are provided 118. All attachments are provided 119. REO: POA provided for Seller’s appointed signer 120. Shore Sale: Lender approval is current (not expired) 121. Termite and Clearance provided (if applicable) Escrow Instructions 122. Certified/signed copies of all pages for Buyer and Seller provided 123. Signed Amendment for Lender, Rate, Term provided AFN-WS-F-Fun_Cklst.pdf • Rev. 03/15/2013

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FUNDING CHECKLIST WHOLESALE LOANS Demand (Refinance Only)

Yes

No

N/A

124. FHA Streamline: If 60 days interest used to calculate loan amount, verbal was provided to show current month payment not made Prelim

Yes

No

N/A

Yes

No

N/A

Yes

No

N/A

Yes

No

N/A

125. Property address matches loan docs 126. Property taxes current; any taxes due within 60 days of closing are paid or proof of payment is listed on the HUD1 127. Prelim no older than 90 days at closing 128. Title supplements provided for items not paid at closing 129. Wire Instructions included 130. CPL included; includes Borrower name(s), address, loan #, title info Appraisal 131. AIR/HVCC (Conv only): At least 3 business days have passed from date borrower received a copy of their appraisal to the docs drawn date or date waiver provided 132. Original appraisal with color photos provided 133. Conv: Appraisal must be in AFN’s name (transferred appraisals not allowed) 134. Property address matches loan docs 135. Appraiser signed/dated 136. Appraisal no older than 120 days at closing 137. Report is “as is” or 1004 D Completion for Repairs provided 138. FHA New Construction Condo: CIR required, even if appraised “as is” Flood Cert 139. Property address matches loan docs 140. Flood Zone: Property not in a flood zone 141. Flood Zone: Property is in a flood zone and flood insurance provided Miscellaneous Docs 142. Payment Letter matches final 1003, 1008/92900LT/VA Loan Analysis and DataTrac 143. CA Properties: CA Domestic Partnership form completed 144. CA Properties: CA Per Diem Interest Disclosure in file and completed 145. Customer Identification form completed 146. 4506T signed/dated by Borrower(s) 147. Signatures on all legal docs match initial 1003, initial disclosures, LOEs, etc. (all discrepancies must be addressed) AFN-WS-F-Fun_Cklst.pdf • Rev. 03/15/2013

Page 6 of 8

FUNDING CHECKLIST WHOLESALE LOANS Miscellaneous Docs (Continued)

Yes

No

N/A

Yes

No

N/A

Yes

No

N/A

148. Certification of Settlement Agent signed by Escrow Officer 149. Concurrent or Subordinate Financing: Copy of Note and Deed provided 150. Subordination: Lender Approval/Agreement in file and loan amount matches AFN Approval and docs FHA Loans 151. FHA Amendatory Clause signed by the Buyer 152. FHA Amendatory Clause signed by the Seller 153. FHA Amendatory Clause signed by the Listing Agent 154. FHA Amendatory Clause signed by the Selling Agent 155. Broker/Agent Certification signed by the Buyer 156. Broker/Agent Certification signed by the Seller 157. Broker/Agent Certification signed by the Listing Agent 158. Broker/Agent Certification signed by the Selling Agent 159. Appliance Statement signed by the Buyer 160. Appliance Statement signed by the Seller 161. Addendum to HUD1 signed by the Buyer 162. Addendum to HUD1 signed by the Seller Compliance 163. Verbal VOEs (Docs) provided for each Borrower and dated within 10 days of the Note 164. Verbal VOEs (Funding) provided for each Borrower and dated within 3 days of funding 165. Verbal VOEs prepared by Funder or Funding Assistant (no Processor) 166. Verbal VOEs prepared using 411 listing for Employer 167. Self-employed Borrower: CPA Letter, Business License or other 3rd party verification provided 168. Credit Refresh: Pulled for each Borrower 169. Credit Refresh: No new inquiries, no new debt, no increased debt 170. MERS: Findings show no undisclosed properties 171. FHA: Maximum mortgage amount for County not exceeded 172. FHA: Correct UFMIP annual factor used 173. FHA: Correct MMI factor used 174. FHA Streamline: Loan amount is lesser of original amount, county limit or max from worksheet AFN-WS-F-Fun_Cklst.pdf • Rev. 03/15/2013

Page 7 of 8

FUNDING CHECKLIST WHOLESALE LOANS Compliance (Continued)

Yes

No

N/A

175. FHA Streamline (w/o Appraisal): Value in DataTrac is amount on FHA Connection from original loan 176. VA: Correct VAFF was used (refer to chart) 177. Refinances (all loan types): Credit Supplements provided to show existing loan is current through month of funding 178. QC/FraudGuard: In file and reviewed by the Underwriter 179. Photo IDs, SS Cards: In file for all Borrowers 180. NMLS: Broker’s license was current at time of initial 1003 and at time of funding 181. MDIA: At least 7 business days passed from initial TIL received/signed date to the docs drawn date 182. MDIA: At least 3 business days passed from re-disclosed TIL date to the docs drawn date 183. MDIA: Proof in the file that no money was collected from the Borrower (except credit report fee) until initial TIL received/signed 184. Invoice (Appraisal): In file and shows paid or balance included on Lender’s Instructions, HUD1 and DataTrac Funding Worksheet 185. Invoice (Credit): If charged on docs, invoice provided 186. Invoices (Misc. Inspections, Desk Review, 2nd Appraisal, etc.): In file and shown paid on Lender’s Instructions, HUD1 & Funding Worksheet

Funder

AFN-WS-F-Fun_Cklst.pdf • Rev. 03/15/2013

Date

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