After you complete your on-line application everyone wonders “What happens next?” We have broken down the steps so that you, the client, understand the process and know what to expect.

1. Apply on-line
2. Within 24 hours of completion of the on-line application you will be contacted by a representative of our company by phone.
3. We will verify the terms of the loan you are requesting and explain what other options that may be available to you, if any.
4. In most cases we will be able to issue you a loan approval based on the information you have provided us within 24 hours of receipt of the on-line application.
5. Should your loan be approved a Loan Processor will be assigned to you. We will contact you with this individual’s name, phone number and e-mail address. This will be your contact person. This person will be able to answer any questions and keep you informed of your loan process.
6. A complete set of application documents will be sent to you via over-night shipping and will include a pre-paid overnight envelope back to Mortgage Loans of America, LLC. In some instances you can even have your application documents e-mailed to you.
7. Once we receive your signed application documents we will begin ordering the appraisal, title, and other necessary third party documentation required for your loan request. You may or may not be contacted by an appraiser. Your Loan Processor will let you know whether or not to expect a call from an appraiser.
8. Once all of the documentation has been received including third party documentation, we will do a quality control check to make sure all the documentation meets the guidelines of the loan you are requesting. If all the documentation meets quality control standards, your loan will then be prepared for loan closing.
9. In preparing for loan closing, we will need to obtain specific items such as a payoff statement on your current loan or loans and homeowners insurance info. Once these items are collected we can then balance the loan and prepare the closing documentation.
10. A representative of Mortgage Loans of America, LLC will contact you to set up a convenient time and place for your loan closing. In some instances a title company in your area may be contacted to conduct the loan closing.
11. The signed loan closing documents are then returned to Mortgage Loans of America, LLC via overnight mail for final review.
12. If you are doing a refinance loan on your principal residence, federal regulations require that we give you three business days after signing the documentation to review and make a final decision on the loan. If we do not hear from you by midnight of the third business day, Mortgage Loans of America, LLC will assume that the loan is in good standing and fund the loan. Payoffs will be sent and funds due to you will be sent via overnight mail.

The entire loan process can take from 7 to 30 days depending on your particular situation.

If you have any other questions or concerns about the loan process you can contact us via e-mail or by calling us at 1-866-838-9201.