Loan Closing

When all conditions have been met, the loan officer authorizes the recording of the Deed of Trust or Mortgage. The disbursal procedure of funds is similar to the closing as a real estate sales escrow. The borrower can expect to receive less that the amount of the loan, as title, recording, service and other fees may be withheld, or he/she can except to deposit the cost of the items into the loan escrow. This process is sometimes called “funding” the loan.

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