1. The Pre-Loan Conference

This is usually done over the telephone or in person with your Mortgage Advisor.  Our Mortgage Advisors are highly proficient at gathering the necessary information in order to help you achieve your goals.  The Pre-Loan conference help determine the following things:

1. What your overall goals and objectives are with the loan.
2. What is your time frame for completing this transaction?
3. Identify what loan program may be best suited for you.
4. And other very important things that help us server you.

The Pre-Loan Conference is very important for you as a Client.  Many Mortgage Companies are more interested in making money and just giving you an interest rate, as opposed to determining what is the best overall financial solution for your specific situation.  A mortgage is usually the biggest investment you will ever have and it should be viewed as an investment, and this investment can assist you in all areas of your financial future.

Your Mortgage Advisor will make sure your time is not wasted, and more importantly, we will come away understanding exactly what you and your family want.

2. The Loan Application

The Loan Application is done after the Pre-Loan conference is complete.  The Loan Application us usually done over the phone or in person with your Mortgage Advisor.  However, you may make your request online, or request an application be emailed or mailed to you.  Using our Loan Management system, we can take your application at any time and with great speed and accuracy.

This step is when you will approve all of our paperwork and discuss the specifics of your suggested loan program.  The following documents depict what is typically required depending on the type of loan program you have chosen:

If you are Purchasing or Refinancing your Home

1. If you are salaried:  Provide two years W-2's and one full month of current paystubs for your Employer.
2. If you are Self-Employed: Provide two years Personal and Business Tax Returns with all addendum's and a YTD profit and loss statement.
3. If you own rental property:  Please provide rental agreements and two years Tax Returns with all addendum's.
4. Please also provide 60 days of Bank Statements and any other accounts that show assets for your. (Please make sure you provide ALL pages for all accounts provided).
5. Provide recent copies of any stock brokerage or IRA/401K accounts that you may have (Please make sure you provide ALL pages for all accounts provided).
6. If you are requesting cash-out financing, please provide a letter explaining what you plan to do with the case to expedite the process.
7. Please provide complete copies of any divorce decrees, spousal settlements, or bankruptcies, if applicable.
8. If this is a refinance, please provide a current statement from your current Lender, and a copy of your most recent survey.
9. If you are NOT as US Citizen, please provide us with a copy of your green card (front & back), or if you are NOT a permanent resident, provide us with your H-1 or L-1 Visa.

3. Review Documents

This is when your Mortgage Advisor and Operations team will review all of your information to make sure everything is ready to be turned in to our Processing department.  We will always want to make sure that all the items we need to help are in order.

4. Processing

This is when your loan package get processed.  This means that all things that need to be done are put into action.  your Loan Manager will order the appraisal for your property, order title work, insurance (if applicable) and all other necessary items to ensure a smooth process for you.  PTF/My Mortgage Company's Loan Managers are highly experienced, knowledgeable and efficient in handling your loan package.  In addition, we use our automated processing system to keep you abreast of your loan status throughout the entire loan process.  We believe in proactive communication to keep you informed throughout every step of the process.

5. Underwriting and Loan Approval

This is when your loan package is reviewed by our in-house underwriting team to ensure your loan request and situation meets the parameters and guidelines of your selected program.  This is when you will receive a Conditional loan approval, and when your Loan Manager will meet and satisfy all necessary conditions so we can close and fund your loan.  Underwriters are the individuals who make the final decision in the loan process.  They are the ones who approve or deny all loans.  that is why our preliminary process is extremely organized.  Do to the fact, that we underwrite our own loans, we have much more control over getting your loan approved quickly and easily.  The underwriter will review the following items to make sure they support your loan requirements:

• Credit History
• Employment History
• Assets, including bank accounts, stocks, bonds, mutual funds and retirement accounts
• Property Valuation to support the requested loan amount

Based on your specific situation, additional documents or verification may be required.  to improve your chances of getting your loan approved in a timely manner...

1. Respond promptly to any requests fro additional documentation.  This is especially critical,l if your rate is locked or if you plan to close by a certain date.
2. Do Not make any major purchases.  Do Not purchase a car, furniture or another home until after your loan is closed and funded.  Anything that causes your debts to increase or change could jeopardize your ability to obtain the loan you have requested.
3. Do not move money into your bank accounts unless it can be traced.  If you are receiving money from friends, family, or other relatives, please have a paper record documenting such exchanges.  Please contact your Mortgage Advisor or Loan Manager with any questions on this area.
4. Do not go our of town around your closing date.  If you plan to be out of town, please notify us in advance so that we can ensure a smooth transaction and closing process.

6. Loan Closing

After your loan is fully approved, you will be required to sign the final loan documents.  this will normally take place with an attorney, title company, or notary public depending on the state in which the property is located.  For your closing, be prepared to:

1. Bring a cashiers check for any monies due at closing.  Personal checks are not generally accepted.
2. Review the final loan documents.  Make sure the rate and terms are what you anticipated.  Also, verify your name and address on the documents are accurate.
3. Approve all of the loan paperwork.

If you are purchasing a home, your loan is usually closed and funded the same day.  For refinances and Home Equity Loans or Lines of Credit, there is a 3 days rescission or waiting period that must elapse after closing before your loan will fund.

Congratulations!

This is the typical flow of a Mortgage Loan Transaction.  There can be variations depending on your state, program choice and other factors during the process of your loan.