Mortgage Loan Process - Process, Appraisal Reviewer, Closer, Closing Agent

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All Western Mortgage

• The Mortgage Loan Process and Roles of Various
  Parties Involved

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• 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 doesnt necessarily need to
  be difficult. As soon as you fill All Western
  Mortgages short mortgage application form, our
  Loan Originator will work closely with you till
  the time of closing of your loan.

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• Here is a summary of the loan process to give you
  an idea of what to expect.

• Borrower
• Mortgage Loan Originator
• Underwriter
• Processor
• Appraisal Reviewer
• Closer
• Closing Agent

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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.)
• Homeowners insurance
• Signing of final loan documents given by the
  Closing Agent
• Provide mortgage closing funds

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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 underwriters primary role is to review the
  documents submitted by the borrower and establish
  his/her credit worthiness
• Issuing final loan decision

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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

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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

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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

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All Western Mortgage

• Address8345 W Sunset Rd
• Suite 380 Las Vegas, NV  89113
• Phone [phone]
• Corporate 702-369-0905
• Fax [phone]
• E-mail info_at_awmlending.com
• Website
• http//www.awmlending.com/