The Loan Process
The lender obtains all pertinent documentation.
The lender will order any documents as deemed necessary such as a credit report, preliminary title report, an appraisal on the property, verifications of employment, mortgage, rent, and funds to close escrow.
The loan package is assembled and submitted to the underwriter for approval.
Supporting documents come in. The lender checks on any problems, and requests any necessary additional items.
Parties are notified of approval and prior-to-funding documentation conditions.
Documents Are Drawn
Loan documents are completed and sent to escrow. Borrowers come in for final signatures.
The lender reviews the loan package. The funds are transferred by wire transfer or cashier check.
Recording of Documents
The Title Company records the deed of trust at the county recorder’s office.