| Author |
Message |
DOUBLENET1266
Joined: 11 Mar 2004
Posts: 2
|
 Posted: Sat Jul 01, 2006 11:11 pm Post subject: How to do a Mortgage Loan Setup? What are the steps involve? |
 |
|
| I understand the Mortgage Processing part but am confused about the steps involved in Loan Setup. Does it start at the initial stage of documentation with the broker? I need to know the steps involved in this process in detail. Thanks... |
|
| Back to top |
|
 |
tonioah
Joined: 05 Jul 2003
Posts: 3
|
| Posted: Sat Aug 05, 2006 2:32 am Post subject: How to do a Mortgage Loan Setup? What are the steps involve? |
|
|
| I 'm not sure just what you are looking at but here we go 1st a broker/lender will take an application (1003) which includes asking detailed information about your job investments and creditors along with information on your current or future homeNext the broker/lender should evaluate your situation i.e what is best for this customer (loan type) once a broker/lender has found a loan that will work for the customer they will or should go over the loan type with the customer and provide them with a Good Faith Estimate of the cost and a Truth In Lending form that will show the cost of money over time ..next or upon approval from the customer the broker/lender should be in the process of getting the loan package a PRE-approval and advise the customer just what is needed to prove income assets etc Hope this helps ..Need additional help email me mortgagesaver01@yahoo.com |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
