We make sure that on all new submissions we need to have the submission form fully completed and follow the submission checklist for required items. ( this saves time for underwriter hold ups on missing documents).
It is imperative for us to use the submission form to give a brief synopsis on your loan scenario so the underwriter is aware of how we properly package the loan and what we are trying to accomplish for the borrower. Additionally, if it is a scenario you have discussed with us in advance and there are some nuances to the deal please let us know. Completing the submission form on our end will make your approval more streamlined and avoid any unnecessary delays.
Once the loan is approved the underwriter will issue a commitment letter with some conditions that need to be met, like an updated pay-stub, or a copy of the down payment check and so forth.
We use a condition cover sheet when submitting conditions to the underwriter if we are providing a different item to clear a condition than what was requested these conditions form will help make that clear to us and allow the underwriter to mark the conditions fulfilled accurately.
Once all conditions have been met, we are ready for closing.
We upload a closing request form to the closing department. We do not schedule closings until the file is actually CTC ( Clear To Close) but if the form is in the file we can proactively check the attorney info and complete our employment income verifications as needed. The closing department does require 24 hours notice to schedule the closing once the file has the CTC (clear to close) issued. All CEMA ( for refinances) docs must be approved prior to the 24-hour request mark.
Our turn time is for closing loans is impeccable, we can actually accommodate same day closings, providing all parties are ready.