Step 1:
Prepare Escrow Instructions and Pertinent Documents
Step 2:
Obtain Signatures
Step 3a:
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Request Beneficiary Statement
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Request Beneficiary Statement and Enter Into File. Review Terms of Transfer and Current Payment Status (Is Prior Approval Necessary to Record?)
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Request Loan Documents
Step 3b:
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Process Financing
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Request or Prepare New Loan Application
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Obtain Loan Approval and Determine that Terms are Correct
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Request Loan Documents
Step 3c:
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Order Title Search
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Receive and Review Preliminary Report
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Receive Demands (If Any) Request Clarification of Other Liens (If Any) and Review Taxes on Report
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Receive Demands and Enter File
Step 4:
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Review File to Determine that All Conditions Have Been Met and that All Documents Are Correct and Available for Signature (Termite Inspection, Contingencies Released, Fire Insurance Ordered, Additional Documents…Second Deed of Trust, Bill of Sale, etc…Have Been Prepared)