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The Onity Mortgage lock and extension policies for Agency and Government transactions are outlined in Chapter 4 of the Correspondent Seller Guide. The Non-Agency lock and extension policies are available in the Correspondent Seller Guide Non-Agency Addendum.

Our top three common pre-purchase conditions are listed below:

1. Initial upload missing required documents. Onity Mortgage requires the entire credit and closing file to review prior to purchase, however, the following documents must be included in the initial submission to move the loan into review:

• Initial and final application
• Loan Estimate
• Final Closing Disclosure
• Copy of Original Note
• Unrecorded Mortgage/DOT
• Title Commitment
• Right of Rescission (if rescindable transaction)

2. Missing or incomplete fraud report. Onity Mortgage requires a copy of the Client’s clear fraud report which includes all participants to the loan transaction.

3. Incomplete Verbal Verification of Employment. The VVOE must include the employer’s phone number and the source used to obtain the phone number.

Onity Mortgage offers Agency, Government and Non-Agency products. As well as several delivery methods.

Agency and Government: Onity Mortgage underwrites to standard agency guidelines. To find assistance with unique situations such as Resident Immigration Status, New Construction Tax Estimation, Escrow Requirements, etc., visit the Underwriting Reference Documents page.

Non-Agency: Review the Underwriting Standards and Product Descriptions, which are available via the Non-Agency page.

Any questions regarding a delivered loan can be escalated to your Correspondent Specialist. If you are unaware of the Correspondent Specialist assigned to your account, please see the Quick Reference Sheet.