Collect all important documents required for successful mortgage closing (inspection reports, appraisals, title documents, CD forms, Loan Estimates, title search documents, etc.) . Collect documents related to the property’s location (water and sewer certification, flood certificates, etc.).
Arrange the required files in the right order to facilitate easy processing - Final evaluation of recorded legal rights. Review of the Title insurance policy with its listed exclusions. Review of the plat, which indicates the legal property boundaries and any records of encroachments or easements.
Final review of the loan application for errors, which includes appraisal reports, flood certificates, inspection reports, homeowner’s insurance, etc. Deliver the closing instructions statement to the funding department, along with bank notes, wiring instructions, and E&O insurance.
Reach out to settlement companies for fee sheets. Obtain the escrow agreement. Evaluate taxes and fees. Send lender instructions to the settlement agent. Determine how funds will be distributed at closing.
Prepare and send the initial CD and other closing documents (Loan estimates, closing disclosures, etc.). Ensure 100% compliance with federal regulations. Follow up with settlement companies in closing the mortgage loan.
Examine Title. Tax, insurance & reserve audits. Preparation of statutory statements and deed. Prepare the document order form and fee sheet . Prepare the Prelim HUDs (settlement statements) and Final HUDs based on the Closing Instructions/Fee Sheets/Invoices. Obtain closing protection letters and wiring instructions.