1. File submitted to processing once minimum submission requirements have been met (submission to processing also notifies setup of new file)
  2. Setup to be completed within 48 hours
  3. Processor reviews file and provides a needs list of any additional information within 48 hours – processor addresses any 3rd party conditions, loan officer team requests borrower conditions
  4. File is submitted to underwriting once income, assets, and credit have been verified Goal is 4 business days after submission to processing
  5. Underwriting approval to be reviewed within 24 hours, processor addresses any 3rd party conditions, loan officer team requests borrowers conditions
  6. Closing disclosure checklist completed and closing disclosure ordered
  7. File resubmitted to underwriting for clear to close once all conditions are received
  8. Clear to close received
  9. Mortgage machine errors cleared (lock updates, disclosure errors, etc)
  10. Closing checklist completed
  11. File submitted to closing
  12. Closer and title balance closing disclosure
  13. Branch approves closing disclosure
  14. Closing documents released
  15. Closing documents and e-signatures completed by required parties
  16. Title emails signed documents to closer
  17. Closer review all documents to ensure all are properly signed and all funding conditions have been met
  18. Funding authorization is issued