FHA Loan
Funding Process
...............................................................................After your loan documents have been prepared, signed, dated, notarized, and
returned, they will go into funding.
This is when all of the signed documents are reviewed by the
investor to insure that everything is signed correctly. At this point they will also do a
final back-up quality control check of your credit and employment to insure nothing has
changed since the loan was approved.
Once everything has been verified and checked, the investor will
fund the loan. The funding of the loan is when the monies your borrowed are wired to the
title / escrow or closing attorney for disbursement. This is when the actual exchange of
money is completed.
This is completed usually through an electronic wire transfer that
must be sent before 12:00 p.m. to insure same day confirmation. The funding will
usually take place 2-4 days after the loan documents have been returned to the investor by
escrow / title.
Once the loan has been funded and final step to closing the FHA real
estate mortgage transaction is the
 recording. |
