Good morning, this is Frank Hilliard from
Guild Mortgage. Now that you’ve gotten pre-approved, what
do you expect to happen during the loan process? Overall it’s fairly simple. We accumulate
documentation to support the information that you provided to us
on the loan application. That information includes things like
your pay stubs, your bank statements or assets, your
tax returns and then that information is accumulated
and provided to a processor who packages that information and
provides to an underwriter to complete a credit underwrite. Also
during that time we order the appraisal for your property to assess the value. Once that
information is all brought together, an underwriter makes a final decision and
approval and then we move to the closing process.
This is Frank Hilliard at Guild Mortgage.