Mortgage Loan Documents

Written by Jessica Duquette
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Mortgage loan documents are often the most dreaded part of closing on a home, for both lenders and borrowers. As a soon-to-be first-time homeowner, you've heard countless stories about the numerous documents you are required to sign before the loan is finalized. Since this is a new experience, nothing can deter you from opening the front door of your own home - not even three stacks of signature-required paper.

Behind the Scenes

For lenders, most of the hard work is finished by the time the closing date arrives. Your mortgage agent has already calculated the loan amount and your monthly mortgage costs. All the documentation has been verified, your credit has been checked and nearly 200 pages of paper await your signature.

As a borrower, you likely have no idea how many hours it took to obtain all of the documents. In actuality several people working for a few weeks have handled your account to ensure your closing date came smoothly. Managing mortgage loan documents prior to the closing date is the most burdensome task for lenders.

Managing Mortgage Loan Documents

Many companies have recently decided to outsource loan processing administration. This helps mortgage agents focus on new business and dealing with clients rather than chasing paperwork around the office. If you'd like to delegate the administrative part of processing loans to help increase new business and customer satisfaction, click on the link above.

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