The document outlines the mortgage process from initial contact through closing, including obtaining pre-approval, making an offer, locking the loan rate, completing the application, underwriting, compliance reviews, termite inspections if needed, and final closing. It provides details on each step and emphasizes communicating closely with realtors and clients throughout the process. The presenter is a senior loan officer who wants to help realtors understand and navigate the mortgage process to better assist home buyers.

1. The Mortgage Process
What Realtors Don’t Know….
But Need Too Know….
Presented by: Rob Ross
Senior Loan Officer NMLS: 189110
The Ross Group
C: 703-568-3749
www.DCmortgageSource.com

2. Do you want me helping you....

3. or me?
Press 1 to continue…..

4. Questions buyers ask……
do you know the answers?
1. What is the interest rate?
2. Will the interest rate change over the life of the loan?
3. Will I be charged points?
4. What are the closing costs and other fees?
5. Will you lock-in the interest rate?
6. How will my down payment affect the cost of the loan?
7. What documentation do you require?
8. What are the payment terms?
9. Can I pay the loan off early?
10. How long will it take to close the loan?
11. What might delay the process?

5. Realtor refers over potential buyer!
Met a buyer at an Open House
Past Client Referral
Social Media / BLOG
Lead Generating Systems
Mass Mailers to Zip Code
However you meet your clients we are happy to help
them out! I will call a client back 7 days a week. Have
them call me from an Open House.

6. Pre-Approval – Step 1 - 1st Meeting!
Contact us to get pre-approved for a specific
loan amount. With this information, you will
know the size of mortgage you can afford before
you start looking for your home. A completed
loan application is necessary to obtain a full
mortgage approval
pre-quall online www.DCmortgageSource.com
in person
or over the phone

7. Pre-Approval Step 2 - Completion
Once we have a clients information we will pre-
approve them within 48 hrs. (most of the time
within 24)
We then send a detailed pre-approval Email to
your client breaking down their qualification. –
See Example Handout
Next we forward the pre-approval Email to the
Realtor who sent over the referral. – We always
want to keep all parties on the same page.

8. Pre-Approval Step 3 – Follow Up
At this time we will enter your buyers
information into the following systems.
ACT – Client Database
Follow My Clients- Email Drip / Holiday Campaign.
Loyalty Express – Closing Gift / Newsletter
* We will use these systems for the rest of the process and after closing. We
will follow-up with all clients searching for a home (1) time a week unless they
request a specific follow-up schedule from us.

9. Client Finds a Property! Contract!
Once your buyer finds a property he/she wants to make
an offer one we will do the following.
1) Update a Loan Summary specific to that property and
what they want to offer.
2) Send updated Loan Approval Letter to Realtor for offer
on contract.
3) Once the contract is ratified we need a copy that day to
get our process started as well.
LET THE FUN BEGIN!

10. Lock Loan Rate / Terms
Now that we have a contract we will contact your buyers
to secure their loan program and rate.
Loan Locks are for (50 days max) at no cost to the buyer.
This is when some clients (Not All) decide to “shop”
lenders. This is not the time to shop.
Once we secure the loan we will Email or UPS the
complete loan application to the buyer within 1 day.
We ask that the complete application and ALL
supporting documents are returned within 4 days to
ensure enough time for closing.

11. Loan Application Initial Setup
Now that we have the complete loan
application back we can get started. Here are
the steps before processing.
Loan Officer reviews all documents and pre-
processes loan file.
Loan Officer / Assistant – Uploads all document
to our LOS (Loan Origination System) Files each
document into the proper category in “Blitz
Docs”
Press Submit to send file to Setup.

12. Loan Application Initial Setup
• Setup does the following:
Order Appraisal – Rob to explain in detail
Order VOE’s
Order Condo Questionnaires
Order Title
Order 4506-T
Flood Cert
Fraud Guard – MERS (address verification / soc sec)
Assigns loan to processor

13. Processing
• My senior processor verifies the information on your
application and makes sure your supporting documents
match. Your loan processor will run your file through an
automated computer system that generates your initial
loan approval. At this point the processor will prepare
your loan for underwriting.
• Credit re-fresh
• VOE
• Processor then submits file to underwriting for initial
review.

14. Underwriting
• An underwriter compares your loan to standard
guidelines. If these guidelines are met, an
approval and loan commitment are issued. If
they are not met the underwriter will return the
file to processing with an approval “subject to.”
• When “subject to” the file must be re-submitted
once the processor / loan officer clear and
conditions.
• Note: additional documents may be requested
by underwriting at this time.

15. Compliance
• Compliance is a new step implemented within the last
year do to changes with the federal government and
regulations.
Truth-in-Lending Disclosure Audits
Anti-predatory & State High-Cost
RESPA GFE & HUD-1 Disclosures
HMDA Filings and Date Analysis

16. Termite Report
• If your contract calls for a Termite Inspection then one
must be completed.
• FHA and VA require Termite Inspections.
• Condo’s only need one if the unit is on the basement, 1st
floor, or 2nd floor.
• NOTE: Please email my team your completed Termite
Report as soon as you get it.
• If treatment is required or damage is found, we may
require a contractor to fix the problem.
• The licensed contract MUST state that the damage is
cosmetic in nature and that the home is structural sound.
• If they are NOT willing to do this then a Structural
Engineer must do a report ($300) to state that the home
is structural sound.

17. Closing Instructions & Settlement
• Our loan closing department will send closing
instructions to the title company of choice.
• It is then the title companies job to prepare the HUD-1
according to our instructions. Many times this may take
2-5 tries to get 100% correct.
• Once the HUD is approved we will release Final Docs to
the title company.
• At closing, you will sign the mortgage, promissory note
and other required documents transferring ownership
from the seller to you.
Congratulations! At this point, you are the
proud owner of your new home.

18. Thanks for your time! Any Questions?
www.DCmortgageSource.com
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