Post Closing
We will reach out to this team to confirm if they received borrower funds.
What is Escrow?
This document is stamped by the settlement agent and advises where to ship the package to.
What is the closing instructions?
This is the name of the platform that we use for recording.
What is Simplifile?
If this document is missing, we can generate in the file and place behind the recordables.
What is the legal description?
The 1003 is also known as this.
What is Uniform Residential Loan Application (URLA)?
This is the process to check the documents from closing to ensure everything was signed and dated.
What is QC?
This document is copied and stamped with the true and certified copy stamp.
What is the recordables?
This is when the recordables has been submitted for recording but the county has not accepted to put on record.
What is a rejection?
This document is generated from our system once all the fees are inputted.
What is the BCS or ALTA?
The addendum to the mortgage is known as
What is a rider?
The name of the platform we use to schedule signings is this.
What is Sync (signature sync)?
This is the only original document the lender will need from the package.
What is the note?
If we are not able to e-record documents, we can do this instead.
What is mail in documents?
If a document is received in house before closing, the document will be uploaded to the file under this document type.
What is ***FOR CLOSING: ORIGINAL IN DRAWER?
This document is for trust files only-it goes along with another critical document.
What is addendum to the note?
Lender and escrow fees are typically this from the wire.
What is netted?
This lender requires us to store packages in house for 90 days.
What is FILO?
If the county is incorrect on the Mortgage-we would check this document to confirm the correct county.
What is the search package?
If this type of document was not signed at closing-this would hold up funding until signed.
What is critical document?
This document is signed by the borrower (or title holder/non borrowering spouse) authorizing someone else to sign on their behalf.
What is a POA?
This action is used to hold up funding on a file-even if there is authorization to disburse in it.
What is do not disburse?
This set of documents is held for a week or so then shredded.
What is compliance documents?
This document is recorded along side of the deed-this will not be for every state.
What is deed form?
This document is signed if taxes are not yet reflecting as paid with county but borrower knows previous lender paid them.
What is a hold harmless?
This section of a document (if applicable) must be filled out entirely by the notary.