How your mortgage applications makes it's way from application to closing is a tale of a team of people working together to make your home purchase possible.
It starts with your Loan Officer who will meet with you and help you to determine the best financing options for your particular situation.
He then hands your file off to the Processor who enters your file into the computer and uploads it to one of the automated underwriting programs that gives an initial underewriting determination.
Using this determination as a guild, the processor then proceeds to gather the documentation required. In doing so he or she will pull a credit report on you, order an appraisal of the property, verify your employment and assets, follow up with and coordinate with the title company, package your loan for underwriting, submit your file to the underwriter, interact with the underwriter, resolve any loan conditions and communicate with you, the loan officer, as well as all the other parties involved in the transaction. Once this has all been done, the processor hands the file off to the closer.
The closer makes sure that all of the underwriting conditions have been met and then coordinates with the title company to arrange your closing. He or She also orders the documentation and the funds for closing.
The Title company closer will set up a time for you to come in and sign your closing documents and then will coordinate with the other title company if there is one and with the lender's closing department. When the transaction is closed, you will get the keys to your new home!
Click Here To Go To Should You Sell Your Home First Or Write Contingent?
Click Here To Return To Buyer's Information And Tools
Click Here To Return To Main Page
Click Here To Contact Us
Website Design and hosting by AgentAdvantage, official agent and broker website provider of Homes.com
