Ask Pink Q & A

Q.

I just went thru a transaction with my buyers lender that was a nightmare I sent emails and left messages to the loan officer but didn’t receive hardly any information or updates from the them, the sale closed but I grew a few more grey hairs on that one.

 

How do you keep everyone informed when financing a sale.

 

A.

You will never be in the dark when working with HomeServices Lending, we use a Transaction Status Update that lists the major stages and their completion thru the process to closing, I send this out weekly and have had a great response to it.

Example below;

 

Done	Client Pre-approved
Done	Ratified contract received
Done	Initial disclosures sent to borrower(s)
Done	Disclosures signed/returned to lender along with requested income/asset/credit docs
Done	Borrower schedules home inspection
Done	Loan submitted to underwriting for initial review Loan submitted to Condo Project Team for review
Done	Commitment letter (conditional approval) received and forwarded to borrower
Done	Title work ordered
Done	Appraisal ordered
Done	Title work received
Done	Appraisal received
Done	Appraisal and trailing conditions are reviewed by underwriter for final approval
Done	File submitted to Closing department to generate CD
Done	Final Customer Call and Closing instructions given to client
	*****LOAN CLOSES!*****
Buyer’s Agent:
Seller’s Agent:
Title Company and Closer:
Mortgage Loan Officer:  Sam Pink
Please feel free to contact me with any questions. We’ll be sure to keep you updated throughout the process to ensure a timely and smooth closing!