5101.6: Resubmission requirements/Loan Product Advisor® tolerances (11/15/17)

A Mortgage may be resubmitted to Loan Product Advisor® however, the Risk and/or Documentation Classes might change. Loan Product Advisor minimizes the number of times that the Documentation Class will change, even if the Risk Class changes.

(a) Resubmission required

The Risk Class and Documentation Level on the Last Feedback Certificate must be based on submission of accurate data to Loan Product Advisor. Except as indicated in this section and Chapter 4602, resubmission of a Mortgage to Loan Product Advisor prior to the Delivery Date is required if:

Information on the previous submission was not true, complete or accurate
The most recent submission on or before the Note Date, or the Effective Date of Permanent Financing for Construction Conversion and Renovation Mortgages (including the date of the Loan Product Advisor credit report(s)) exceeds the date requirements in Section 5203.1(i); resubmission must occur on or before the Note Date, or the Effective Date of Permanent Financing for Construction Conversion and Renovation Mortgages
Any information submitted to Loan Product Advisor changes, except as indicated below

If resubmission of a Mortgage to Loan Product Advisor is after the Note Date, or the Effective Date of Permanent Financing for Construction Conversion and Renovation Mortgages, refer to the additional requirements in Section 5101.7..