1 / 11

Mortgage Loan Originator

Informs about various mortgage options to the borrower<br>Quotes interest rates and fees corresponding to the mortgage options<br>Assists in completing the application forms<br>Requests for documents necessary to complete the formalities<br>Provides estimates of loans and other disclosures to the borrower<br>Orders appraisals<br>Locks in interest rates<br>http://www.awmlending.com/shortapp.php

allwesternmortgage
Download Presentation

Mortgage Loan Originator

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. All Western Mortgage The Mortgage Loan Process and Roles of Various Parties Involved

  2. Most would-be homeowners dread the cumbersome mortgage loan process that is necessary for realizing their dream of buying a home. But, the mortgage loan process doesn’t necessarily need to be difficult. As soon as you fill All Western Mortgage’s short mortgage application form, our Loan Originator will work closely with you till the time of closing of your loan.

  3. Borrower • Mortgage Loan Originator • Underwriter • Processor • Appraisal Reviewer • Closer • Closing Agent Here is a summary of the loan process to give you an idea of what to expect.

  4. Borrower Fill out the short mortgage application (unless your agent advice you to fill the complete form) Contact Loan Originator Initial documentation (bank statements, pay stubs, tax returns etc.) Homeowner’s insurance Signing of final loan documents given by the Closing Agent Provide mortgage closing funds

  5. Mortgage Loan Originator Informs about various mortgage options to the borrower Quotes interest rates and fees corresponding to the mortgage options Assists in completing the application forms Requests for documents necessary to complete the formalities Provides estimates of loans and other disclosures to the borrower Orders appraisals Locks in interest rates

  6. Underwriter An underwriter’s primary role is to review the documents submitted by the borrower and establish his/her credit worthiness Issuing final loan decision

  7. Processor A processor confirms the terms and conditions of the loan with the borrower Collects all the additional documents Re-submits the file after collecting all the additional documents to the underwriter for approval

  8. Appraisal Reviewer Reviews the value of the property for appraisal Issues the appraisals to the borrower

  9. Closer Prepares closing document package Sends the package to the closing agent Wires loan funds

  10. Closing Agent Schedules the closing of mortgage Informs the borrower about the funds that are required for closing the loan Informs and presents the borrower with the final documents that need to be signed for closing Witnesses the sign of the borrower on all necessary documents

  11. All Western Mortgage Address:8345 W Sunset Rd Suite 380 Las Vegas, NV  89113 Phone: 702-850-2790 Corporate: 702-369-0905 Fax: 702-906-0153 E-mail: info@awmlending.com Website: http://www.awmlending.com/

More Related