Correspondent loan purchase review

How do we review closed loans from correspondents against the purchase conditions and chase suspended items before purchase?

Run the purchase review as a conditions list the correspondent clears through a link. Callvu receives the closed loan package from the correspondent, classifies the loan's program and the investor's and the lender's purchase conditions, reads the package against them (the note and security instrument, the closing disclosure against the loan estimate and the tolerances, the title policy, the appraisal, the income and asset documents, the compliance tests, the flood and the mortgage insurance), produces the suspense list with each condition's specific defect, chases the correspondent through their link with the purchase deadline and the lock expiration visible, routes the purchase decision to the purchase underwriter in the Decision Desk, and writes the purchase with the funding and the loan's boarding to the loan system.

In scopeComplex: multi-party handoffsCallvu moves: chase and verify, decide, write back

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Last updated November 7, 2026.

The problem today

The loan was suspended for a missing signature, the condition sat in the correspondent's inbox for nine days, and the lock expired.

Today, without Callvu

A correspondent delivers a closed loan. The purchase reviewer finds a missing page on the closing disclosure, a title policy without the lender as insured, and an appraisal condition not cleared. The suspense notice is emailed; the correspondent's post-closer finds it a week later; the cure arrives after the lock expires and the pricing changes. Everyone loses money on a loan that was fine.

The investors' and the lender's purchase conditions are a list: the documents, the compliance tests (the tolerances, the ability to repay, the high-cost and higher-priced thresholds, the right to cancel), the data integrity between the documents and the system, the appraisal and the title requirements, the mortgage insurance and flood. Each is a check on a document, and each defect has a specific cure the correspondent can deliver.

A suspense list with specifics, delivered the day of the review, is the difference between purchase and loss.

How it runs

From the requestto the system of record.

A correspondent delivers a closed loan package for purchase. Callvu opens the review on the loan with the program and the lock.

Correspondent: Delivers the package and clears the suspended conditions through a link with the deadline visible.
Purchase underwriter: Decides the purchase in the Decision Desk.
Funding: Funds the purchase and boards the loan from the decision.
Callvu: Classifies, reads, produces the suspense list, chases, routes and writes.

Classify the conditions
The loan's program, the investor, the lender's overlays, the delegation (delegated or non-delegated underwriting) and the lock set the purchase conditions: the documents required, the compliance tests, the data integrity checks, the appraisal and title requirements, the insurance and the eligibility.
Chase and verify
The package is read against the conditions: each document present, executed and consistent; the closing disclosure against the loan estimate's tolerances and the final figures; the compliance tests re-run (the ability to repay, the thresholds, the rescission); the title policy's insured, amount and endorsements; the appraisal's conditions; the data between the documents and the delivered file; each defect produces a suspense condition with the specific cure, delivered to the correspondent through their link the day of the review, with the purchase deadline and the lock expiration; cures are read and checked as they arrive.
Decide
The purchase underwriter decides in the Decision Desk with the conditions' status and only the allowed outcomes: purchase, purchase with a price adjustment for a disclosed variance, suspend with the open conditions, or decline with the reasons; a loan outside eligibility cannot be purchased.
Write back
The purchase with the funding amount and date, the price, the loan's boarding to the servicing system, the transfer of servicing notices where applicable, the trailing documents due (the recorded security instrument, the final title policy) with their clocks, and the correspondent's performance record are written to the loan system.

Where it ends: Every closed loan was read against the conditions with specific defects delivered the same day, the correspondent cleared them before the deadline, and the purchase was decided and boarded with the trailing documents tracked. The Decision Trace shows the conditions, the checks and the decision; the Audit Trace shows the delivery, each cure and the funding.

Runtime enforcement

What is enforcedwhile the work runs.

The regulations preloaded in Callvu Studio and the bank's own policies, applied as steps that run, not lines in a binder. A step that breaks a rule does not run, so a completed run was compliant.

Regulations

Investor and agency guidelines for loan delivery and eligibility (Fannie Mae Selling Guide A2-2 and B, Freddie Mac Seller Guide 1000 to 6000, FHA Handbook 4000.1 II.A, VA Lenders Handbook, Ginnie Mae MBS Guide): The loan must meet the investor's eligibility, underwriting, documentation and delivery requirements at purchase, with the lender making the representations and warranties on it; the lender's purchase review evidences the conditions, and defects found later lead to repurchase demands under the representation and warranty framework.
TILA-RESPA Integrated Disclosure and Reg Z compliance (12 CFR 1026.19(e) and (f), 1026.43, 1026.32 and 1026.35, 1026.23): The purchase review re-runs the tolerance comparison between the loan estimate and the closing disclosure, the ability to repay and qualified mortgage tests, the high-cost and higher-priced thresholds and the rescission timing, since an assignee is liable for violations apparent on the face of the disclosures.
Transfer of servicing (Reg X, 12 CFR 1024.33) and the lender's purchase policy: Where servicing transfers at purchase, the notices go out on the rule's timing; the lender's overlays, price adjustments and trailing document rules are the policy the review applies.

Company policies

The suspense list states a specific defect and cure for each condition, delivered the day of the review.
The correspondent sees the deadline and the lock expiration on every open condition.
The compliance tests are re-run on the closed documents, never assumed from the correspondent's file.
The loan system holds the purchase, the boarding and the trailing documents.

Controls

Conditions classification by program, investor and delegation.
Package reading with document, compliance and data integrity checks.
Same-day suspense list with specific cures through the link.
Cure reading and checks.
Decision Desk purchase decision with required outcomes.
Funding, boarding, transfer notices and trailing document clocks.

Clocks and deadlines

Purchase deadline and lock: On every open condition, visible to the correspondent.
Transfer of servicing notices: The transferor's notice at least 15 days before the transfer and the transferee's within 15 days after (or a combined notice).
Trailing documents: The lender's and investor's periods for the recorded instrument and the final title policy.

Documents and checks

The conditions list
The package as read with each check
The suspense list and each cure
The decision
The funding, boarding and trailing document record

In the Decision Trace

Each condition's check and result.
The decision, any price adjustment and the person.

In the Audit Trace

The delivery with time.
Each suspense notice and cure with time against the deadline.
The funding and the writes.

The handoff

Between the front doorand the back office.

The front door

The correspondent through its link, with the suspense list, the deadline and the lock visible.

The back office

The purchase underwriter decides from checked conditions; funding boards from the decision.

The Decision Desk

The loan goes to the purchase underwriter in the Decision Desk with the conditions' status and only purchase, purchase with a price adjustment, suspend with open conditions, or decline with reasons.

Proof

In scope.Proof at scale, not one process at a time.

The kind of process Callvu runs in production for customers in this industry. Ask for a reference on this exact process. The results below are the industry's published proof; each claim code links to its record on agents.callvu.com.

Bank Leumi runs its home lending workflows on Callvu.

MTG-01

Community Bank of Mississippi runs TRID loans on Callvu.

MTG-02

More than 1,000 processes are live across Callvu customers.

Across Callvu customers

Questions

What buyers ask next,answered plainly.

What is reviewed before purchase?

The documents, the closing disclosure against the loan estimate's tolerances, the compliance tests re-run, the title policy, the appraisal conditions, the insurance and the data integrity, against the investor's and the lender's conditions.

How does the correspondent clear a suspense?

Through their link, where each condition states the specific defect and cure with the purchase deadline and the lock expiration, and each cure is checked on arrival.

What happens after purchase?

Funding, the loan's boarding, the transfer of servicing notices where applicable, and the trailing documents tracked on their clocks.

Related processes

Broker and correspondent onboarding Broker annual recertification Closing package and settlement agent instructions Servicing transfer notice Try it in the sandbox All home lending processes

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