Mortgage Life Cycle (1).pptx

Mortgage life cycle

1. Mortgage Loan Cycle in United states Mortgage ?? “ Pledge the property and get the money” Borrower needs to pledge the subject property in order to get the loan amount . Purpose of Loan Purchase Refinance Construction Presented by, Chandrashekhara L

2. A. Primary Market/Origination 1 . Loan Application (1003): Paper Application Electronic application 2 . Loan Processing: Document Verification and will reach out the borrower to procure the missing information/documents. 3. Underwriting : Credit Score, Risk Scores and specific lender unique criteria for scoring. Process will be Automated or manual intervention. 4. Closing: CD Signing the final set of documents to move forward for funding. 5. Funding & Shipping B. Secondary Market Stages in Loan Cycle: 1 . Loan Servicing 2 . Default Servicing Disbursing of money from lender and documents are audited & copies will be sent to investors.

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