Deal Validation

Validating your deal is an important step in ensuring the information being sent to the lender is accurate and complete. Within this guide we will discuss some of the common validation questions received to the Scarlett Mortgage Support team.

When you click on this validation message, it will bring you to the lender product dropdown selection. The product you are requesting from the lender must be chosen from this field.

When you click on this validation message, it will bring you to the property in the client's address history that is listed as "Own", where the system does not see a matching entry in "Properties Owned". Sometimes this is because the property has not been entered at all. Sometimes it is because there is a small address difference, like a unit number, street direction, or misspelling.

In our example here, the address history has Street Type "Autoroute", but the properties owned section has Street Type "Street".

The addresses need to be an exact match.

There is a field in the mortgage information on existing properties called "Redemption Status". This is meant to communicate additional information to the lender, such as the mortgage to be ported, staying as is, or if the property is free & clear

Note that this field disappears if you have a value in the Payoff field.

Usage Type is a field that is included in the Subject Property Information. This provides more information about the property usage. It is required on any deal coded as an "Approval", but not on a deal coded as a "Pre-Approval".

Zoning Type is a field included in the Subject Property Information. This provides more information about the zoning of the property. It is required on any deal coded as an "Approval", but not on a deal coded as a "Pre-Approval".