Just like the application is complete in addition to documentation filed, the procedure is now outside of the borrower’s hand. All of the documents filed and closed up to this point is recorded and you may run through an automatic underwriting system becoming accepted.

Certain documents will be sent to an underwriter getting guidelines recognition. The borrowed funds officer up coming contains the appraisal, desires insurance information, schedules an ending, and directs the mortgage file to your chip. This new processor will get demand additional information, if necessary, getting evaluating the loan recognition. [Read more…]