What key items must always be included in a Member's Action Plan for follow-up or going to UW?

The inclusion of both updated bank statements and documentation requirements in a Member's Action Plan for follow-up is essential because these elements provide a comprehensive picture of the member’s financial situation. Updated bank statements are crucial for verifying the member’s current financial status, including income, expenses, and overall banking activity. This up-to-date information ensures that any underwriting decisions made are based on the most recent and relevant data.

Documentation requirements, on the other hand, serve as a checklist to guide the member through the process of gathering all necessary paperwork needed for underwriting. This may include items such as income verification, employment verification, and proof of assets. Having clear documentation requirements helps streamline the process and reduces delays that may arise from missing information.

Together, these components ensure that the member's application is thoroughly prepared for submission to underwriting, which can lead to a smoother and more efficient approval process.