Know when loan
documents expire

Filing by loan is useful, but it hides age. To watch freshness you also want a view by document type, because the rule that matters is how old a paystub or a credit report is, not which loan it sits in.

Keep the loan folder as your home for each file, and keep a simple list that groups documents by type with their dates beside them. The oldest type-and-date pairs are the ones to look at first.

Each loan document carries more than one date. A paystub shows a pay date and a pay period end, a bank statement shows a statement date and a period end, and a credit report shows the date it was pulled. Agree which one your lender counts, and use it every time.

Start the file name with that date, then the type and the borrower, so a list sorted by name is also sorted by age. Investor guidelines often count age up to the note or closing date, so check how yours does it.

Lenders and loan programs differ on how recent income, asset and credit documents must be, and the limits often change with the loan type. Check your own lender or investor guidelines, and do not rely on a rule of thumb from another shop.

Once you know your limits, write them down per document type and count from the document date to the expected closing date, not to today. A paystub that is fine now may be too old by the time the loan is reviewed.

Most processors keep a tickler sheet with one row per loan and a TODAY() formula that colors a cell when a date passes. Some use the condition dates in their loan origination system, and others set Outlook reminders for each borrower.

All of these depend on someone typing each date in, and a missed row is the one that goes stale. Filex reads the date from each uploaded page, so once a week you ask which documents are older than your number and it lists them.

It reads and lists dates. It does not know your lender’s limits, decide whether a document is acceptable, or contact the borrower for a new one. It sends no reminders on its own: you ask, and it answers.

Filex needs a readable date on the page. A blurry photo or a statement with no printed date may not be dated correctly, so check those yourself. It works only from files you have uploaded.