| |
Borrower |
Amerlender |
Qualification and
Pre-Approval |
Loan is submitted for pre-approval:
- 1003 application and loan
submission form
- Tri-merged credit report
- Purchase and sales contract
if applicable.
|
Issues to borrower Conditional
Pre-Approval Letter within 48 hrs
of complete package submission
stipulating:
- Loan amount
- Rate
- Documents required for Underwriting
- Documents required for closing
|
| Underwriting |
- Signs pre-approval letter and
appraisal processing fee and
returns to Amerlender Financial
- Provides all additional information
and documentation
|
- Orders appraisal
- Orders title
- Conducts fraud guard
- Obtains environmental insurance
- Conducts real estate and income
analysis (when applicable).
|
| Closing & Funding |
|
- Coordinates w/ Title company &
attorney
- Prepares all loan docs and sends to
closing agents (same day funding
available for purchases).
- Sends completed docs to custodian
for review.
- Issues funding next day.
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