Loan process

The following steps provide a general overview of the loan process from the time of approval through funding.

1. Loan requirement verification

   • Borrower submits loan requirements

   • Loan requirements reviewed for completeness

2. Home valuation

   • Collateral reviewed to verify type of valuation report needed

   • Valuation report ordered

   • Valuation report received and reviewed for acceptance

   • Valuation report sent to borrower

   • 6 business days must elapse prior to signing final paperwork

3. Coordinating closing

   • Property taxes evaluated for payments due and escrow calculations

   • Insurance evaluated for required coverage escrow calculations

   • Closing details are coordinated with the specified escrow company
     (If being used for settlement)

   • Borrower consulted, if necessary, about final loan structure

4. Generation of closing documents

   • Preparation and printing of documents
     Documents are shipped to specified signing location

5. Signing of final documents

   • Documents are signed and notarized

   • Document originals are returned for review

6. Review of documents

   • Preliminary review of final documents for accuracy

   • Remaining outstanding items are gathered for completion

   • Documents are submitted for final audit for completion

7. Disbursement of funds

   • Funds are disbursed by check and/or wire as requested

To learn more about the loan process and what your customer can expect click here to view loan process from time of application through to funding.