The below chart is simplified to show what happens during a typical Home
Loan from the time a Borrower applies until their loan is funded, and then
certain documents, such as Deed of Trust, Grant Deed, etc is recorded at the
County Recorder's Office.
The Loan Process from Origination to Recording
Prequalification
Application & Disclosures
are Signed by Borrower Lender obtains all pertinent documentation from the
Borrower |
 |
Order Documents
Credit report, appraisal on
property, verifications of employment, mortgage or rent is verified, and funds
to close, landlord rent ratings, preliminary title report. |
|
Loan Submission
The loan package is assembled and
submitted to the underwriter for approval |
|
Documentation
Supporting documents come in Lender
checks on any problems Request for any additional Documents are made |
|
Loan Approval
Borrower is notified of approval
and any prior to loan documentation conditions are requested from the
Borrower |
|
Documents are Drawn
Loan documents are completed
& sent to escrow Borrowers come in for final signatures |
|
Funding
Lender reviews the loan package Funds are
transfer by wire |
|
Recording of Documents
Title company records the
deed of trust at the county recorder's office Escrow is now officially
closed |