Loan Processor

Escrow Officer Title Transfer Flow Chart - Step 7

The Beginning

• Reviews the purchase agreement
• Reviews the lender's loan instructions
• Collects inspection reports
• Collects contingency removals
• Receives mortgage payoff figures
• Receives prepared mortgage & deed
• Verifies repairs if any, collects all billings for repairs
• Prepares buyer's & seller's escrow papers
• Receives current taxes and pro-rates
• Collects balance of funds from buyer
• Signs-up the buyers if not already pre-signed by the lenders
• Collects "new" homeowners insurance policy
• Receives warranty deed and sends to title company
• Reviews title report
• Reviews buyer's and seller's signed papers
• Forwards mortgage documents to the title company (if lender is doing its own escrow)
• Prepares closing statements
• Receives title charges
• Waits on funding check from lender (mortgage amount portion)
• Distributes checks

• Sellers proceeds

• Realtor's® commission (Usually the next day)

• Mortgages

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