Mortgage Process Flow

1.  Initial contact with Client

·         Introductory call to understand client’s goals 

·         Explain cost of money and ratios

·         Determine monthly payment they feel comfortable with

·         Explain process and timing of each step in the transaction process.

·         Clarify information that is required. 

 2.  Gather the Client’s Information

·         Email link to online application

·         Provide checklist of documentation required to support information provided

·         Receive documentation from client via email, fax, or drop off or pick up

3.  Review Client’s file and documentation

·         Review information with to determine if any additional information is needed

·         Request missing information from client

4.  Submit for Approval

·         Submit file for an Underwriting decision

·         Review findings, approval level, get any additional required documentation

5. Disclosures and Finding

·         Review disclosures, GFE and TIL with client

·         Discuss Findings and loan options with Client

6.  Issue approval letter to client and realtor to begin the house selection process

7.  Offer acceptance

·         Forward copies of: Executed Contract copy of the deposited/cashed EMD check.

8.  Complete Loan Package

·         Our bank will order appraisal, insurance, title information.

·         Receive any outstanding conditions from processing and get them from client and submit.

9.  Get clear to close and order docs to title.

·         Send HUD to client and review prior to closing.

10.  Close and fund the loan

·         Client signs documents at closing

·         Bank funds loan and title records