When all conditions have been met, the escrow officer authorizes the recording of the trust deed and the disbursal of loan funds. This process is sometimes called "funding" the loan.
When all conditions have been met, the loan officer authorizes the recording of the trust deed or mortgage. The disbursal procedure of funds is similar to the closing of a real estate sales escrow. The borrower can expect to receive less than the amount of the loan, as title, recording, service, and other fees may be withheld, or can expect to deposit the cost of these items into the loan escrow. This process is sometimes called "funding" the loan.
When all conditions of the loan have been met, the loan officer authorizes the recording of the trust deed and disbursement of funds.
The final transfer of the ownership of a property from the seller to the buyer, which occurs after both have met all the terms of their contract and the deed has been recorded.
The final stage of the loan process that requires an exchange of any monies due and any signatures required to record a transaction. Closing costs are paid at the closing.
A meeting between borrower and lender in which transfer of ownership is accomplished, funds and deed are exchanged, and all loan documents, including the promissory note and mortgage, are signed.
The process that brings a loan into legal existence, including the signing of all loan documents, their delivery to the appropriate parties and the disbursing of at least some of the loan proceeds.
Date on which loan funds are actually disbursed.
The process of formulating, executing, and delivering all documents required by a lender, providing for the protection of the lender's security and, if applicable, disbursement of funds.
The end of the process of purchasing or refinancing a home. Often done at a title company where the documents are signed, recorded, and the loan funded usually within 3 days of signing the legal closing documents.
Also known as Funding; Once all conditions of the loan have been met, a loan officer with authorize the recording of the trust deed or mortgage documents which will result in the disbursal of funds for the borrower..