The Rena Rogers Mortgage Lending Site

Loan Process

1. Loan Application

• Fills out loan application with you
• Shows you different loans available and quotes you interest rates
• Helps you find out payments, cost to buy, price you can qualify for, etc.

OK to Proceed
Underwriting Dept.

• Loans that are out of guidelines go to head underwriter for decision to start process

2.  Set-Up Department

• Orders credit report
• Orders appraisal on new home
• Sends out verifications of employment, residence, assets, etc.

3.  Processor

OK to Proceed
Underwriting Dept.

• Loans that are out of guidelines go to head underwriter for decision to continue
• Loan goes back to processor for review

• Decision Makers
• May need additional documentation from you

5.  Closing Department

• Assembles packages for your closing day
• Sends package to attorney's office

• Prepares settlement statement and faxes to Processor for review
• Processor faxes settlement statement to all parties 72 hours prior to closing

7.  Closing Day

• At attorney's office
• Bring certified check to closing (payable to yourself)
• Bring Homeowner's insurance with paid receipt for one year