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The Broker will:
- Take the loan application
- Collect signed disclosures
- Collect borrower docs
- Identify lender & program
Accelerated Loan Process will:
- Order appraisal & title
- Order payoff & subordination agreement (if necessary)
- Verify disclosures are accurate and complete
- Review credit report, bank statements, pay-stubs & W-2's
- Submit loan package to lender & work to clear all conditions
- Contact hazard insurance company for new mortgage clause
- Prepare fee sheet for review by broker, then submit to lender
- Coordinate closing schedule
- Follow-up to confirm closing was successful
- Assemble a 'Post Closing' loan package & deliver to broker
- Keep the broker informed throughout the loan process
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