The Loan Process
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.
Lender checks on any problems and requests for any additional items are made.
Parties are notified of approval and prior to funding documentation
Documents are drawn
Loan documents are complete and sent to title. Borrowers come in for final signatures.
Lender reviews the loan package.
Funds are transferred by wire or cashier check.
Recording of Documents
Title company records deed of trust at the county recorder’s office.