We will walk you through the process!
OUR LOAN APPROVAL PROCESS
1. PMC Receives Completed Online Application and receipt of items 1-6 (above)
2. PMC pulls credit, analyze complete application and render a credit decision. PMC will issue a pre-approval letter and/or DU approval (24 Hrs)
3. PMC emails the broker disclosures to the borrower(s) to sign and return with any additional documents requested (24 Hrs)
4. PMC collects any additional required loan application documents (VOE, VOR, HOI Binder, Title/Escrow Docs, etc.) (24 Hrs)
5. PMC submits the loan application to the lender once all required documents are received (complete submission is required by all lenders)
6. Lender registers the submission and issues their e-disclosures to the borrower (72 Hrs)
7. Due to MDIA regulations, the appraisal may not be ordered until 4 days have passed after the lender disclosures have been emailed or after the
borrower acknowledges the lender issues e-disclosures
8. PMC Receives lender approval and proceeds to clear conditions (Up to 72 Hrs)
9. PMC can proceed with the rate lock and final lender documents can be requested
10. Lender will re-disclose to the borrower(s) usually by email (24 Hrs)
11. Once (CTC) clear to close the loan will go through Quality control (QC) is done with a 2nd level review by the lender/investor (48 Hrs)
12. Lender clears the file for docs (48 Hrs)
13. Escrow receives docs and prepares it for signing with a Notary (24 Hrs)
14. The borrower(s) signs the loan documents and the seller signs (If Purchase)
15. Signed loan documents are sent back to the lender by Escrow (24 Hrs)
16. The lenders reviews the signed docs and issues funding conditions (48 Hrs)
17. PMC and Escrow will coordinate to meet the funding conditions
18. Then lender funds the loan, releases the wire to Escrow (24 Hrs)
19. Escrow disburses the wire and records the new lien with the county recorder’s office (24 Hrs)
20. Borrowers are now officially homeowners and can receive the keys to their new home! (if Purchase)
Mortgage Broker - Platinum Mortgage Company
Corporate Office: 915 Highland Pointe Drive, Suite 250, Roseville, CA 95678
CA, WA & OR NMLS 266371 | CA BRE 01183898 | WA RE 19823
PMC Realty www.pmcrealty.net | Blog www.pmccanhelp.wordpress.com | Email email@example.com
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Conventional and Unconventional Home, Business Purpose and Commercial Mortgage Broker.
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Platinum Mortgage Company is an Equal Housing Mortgage Broker. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, martial status, age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The federal agency that administers our compliance with these federal laws is the Federal Trade Commission, Equal Credit Opportunity, Washington, DC, 20580.
The information on this site should not be taken as financial advice. Please speak with your mortgage loan officer or financial professional for specific advice regarding your situation. Any references to interest rates, giveaways, deals, products, and websites are subject to change without notice. We try our best to keep the information current, but things are always changing so it may be different now than when it was first published. Platinum Mortgage Company offers more than just mortgage financing and real estate. We are hear to help.
Platinum Mortgage Company takes great pride in our customer service and make it our number one priority. We encourage you to contact us for complaint resolution or any post-closing questions you may have regarding the servicing of your loan. In the rare case that our service did not meet your expectations, please call 877-277-9922 or you may contact us by email email@example.com. Please leave a detailed message and we will follow up with you no later than the end of the next business day.