The L&G Mortgagebanc
Loan Process

Step 1 - Loan Origination

• Pre-qualify borrower
• Personal rate quote
• Complete loan application

Step 2 - Loan Approval

• Underwriter contacts borrower within an hour for loan consultation
• Underwriter contacts both loan associate and borrower to review terms of loan approval
• Associate/Borrower to lock rate if purchase contract is signed or is a refinance (May be completed in Step 3)

Step 3 - Processing

• Processor introduces themselves to associate and borrower
• Confirms conditions required
• Associate completes appraisal and preliminary title order forms, and faxes purchase contract
• Associate/Borrower locks rate at time of purchase contract (May be completed in Step 2)
• Processor reviews accuracy of documents provided
• > Associate and borrower track status of loan

Step 4 - QC Underwriting

• Complete file is reviewed by underwriter to ensure all conditions have been met
• QC underwriter will review file to ensure compliance with industry guidelines

Step 5 - Closing

• Underwriter calls borrower and associate to confirm terms of transaction
• Closer draws the loan documents and emails documents to escrow company
• Escrow officer assists borrower in signing documents, collects final conditions and sends documents to closing department
• Funder reviews documents and orders wire for funding
• Title company disperses funds and records transaction

Our 4-way warranty