Decision Authority Processor I (DAP I):
This program authorizes the Processor or OPS Manager to review and decision CONV Refinance loans that meet the Credit Criteria allowed by the program. A DAP Processor will also be certified to perform the same duties as a CAP Processor to review conditions and clear the loan to close. Branch Managers should consider the following when recommending individuals (in their Branch) that have exhibited exemplary loan level, operational and technical skills to be invited to the DAP I program. If you have a qualified candidate you would like to recommend, you can reach out to our team at the email address below or complete the request form.
Training for this program consists of a combination of self-study materials, a live training call, and a specified number of file reviews before the DAP Processor is released to review and decision files on their own.
To maintain DAP I credentials the partipant must review and decision a minimum of 1 loan per month. In addition, the DAP is expected to maintain credit refresh certification and complete continuing education as it is offered by the Underwriting Team.
For each funded loan a DAP decisions, the branch receives a $200 credit to offset their Underwriting Fees.
Qualification Requirements:
1. While there is no set timeframe a Processor or OPS Manager is required to be employed by Fairway, there is an expectation that the candidate be fully integrated and comfortable working in Fairway’s systems and Encompass. They should possess strong processing skills and be confident with Fairway’s products/programs and policies. If the Processor is new to Fairway, documented completion of Fairway’s Processor Training is required.
2. A Loan Officer, LOA or Branch Manager is not a candidate for this program. If an employee receives commission income (BPS) based on personal or branch closed loan production and/or possesses a Loan Officer Persona in Encompass, they would not be eligible for this program.
3. Each nominee IS vetted through Underwriting to assess the quality of their loan submissions and their basic understanding of Agency guidelines and Fairway’s policies and procedures.
4. Nominee may not have commission income in their compensation plan regardless of their title.
Decision Authority Processor II (DAP II):
The DAP II program is the next step after a Processor or OPS Manager has become proficient as a DAP I. This program provides expanded decisioning criteria to the DAP I program including the ability to review and decision CONV Purchase transactions. If you have a qualified candidate you would like to recommend, you can reach out to our team at the email address below or by submitting a request form.
Training for the DAP II program consists of a self-study certification program that will be assigned in FMU. After completion of the training the DAP II is required to have a minimum of 10 files reviewed before they are released to review and decision files on their own.
To maintain DAP II credentials the partipant must review and decision a minimum of 1 loan per month. In addition, the DAP is expected to maintain credit refresh certification and complete continuing education as it is offered by the Underwriting Team.
Qualification Requirements:
1. Completion of the DAP 1 program and a minimum of 15 files successfully completed prior to being eligible for DAP II.
2. Candidate must consistently review and decision a minimum of 1 file per month as a DAP1 to be eligible for DAP II.
Is my loan DAP eligible?
Submitting a new file Submission within Branch 437 for DAP
Pipeline view monitoring loans submitted for DAP underwrite within Branch 437.
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