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- Each file is input into Calyx Point from either a handwritten 1003 or a typed 1003.
- If all disclosures are signed and in compliance, we will continue the following...
- Order all title work on your behalf within 24 hours and open escrow.
- If approved by you, we will also order the appraisal on your behalf at this time.
- Payoffs are usually ordered by escrow.
- All Verifications of Employment, Deposit, Rent, and Mortgage are sent within 24 - 48 hours if required on conditional approval.
- Any other misc. items are ordered.
- A status report showing all of the work done on your file is completed and sent to you by e-mail. An additional report will be sent to you with any change or by request.
- We will note any documents needed.
AFTER ORDER OUTS we will
- Verify all items that were sent out are tracked and collected by your processor who will verify and organize them to be sent to the lender of your choice.
- Create copy packages and send your loan to the lender. (if applicable)
- Follow up with the underwriter and track the amount of time your files are in underwriting so that they are not sitting on a desk. (underwriting times may vary by lender)
- Once we receive the approval from the lender we will fax a copy to you for review to make sure the interest rate and terms are acceptable.
- We will work with all parties to collect any conditions needed to move your file to closing expeditiously.
AFTER FINAL APPROVAL we will
- Order a hazard insurance binder.
- Contact escrow to ensure we have a current payoff and that we are nearing closing.
- Submit a doc order request to the lender so that they can draw docs for the title/escrow company. We will fax you a copy, have you approve it, sign it and fax it back.
- Coordinate with your title company to set a date for closing.
- Coordinate with the title/escrow company to obtain a copy of the HUD prior to signing to ensure accuracy.
- Follow up on any prior to funding conditions needed to close your loan. We prefer to have all conditions before signing.
AFTER SIGNING we will
- Verify that your closing went well
- Obtain PTF conditions ASAP
- Verify Funding time
AFTER FUNDING we will
- Make sure your checks were dispured accordingly
- Stack the file and send it to your broker
THINGS WE ASK OF YOU...
- Processors do not lock the rates. Please fax a copy of the lock request & confirmation.
- LO to contact the borrower if there is any lender conditions needed.
- Please have a representative available at closing in case of customer questions.
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