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Comprehensive Home Loan Processing Workflow

This document outlines the complete flow of the home loan process, detailing each critical step for efficient management. The phases include loan receipt in processing, appraisal and title ordering, and necessary verifications, including IRS transcripts and fraud checks. Timelines are specified for appraisals based on loan type—3-4 days for conventional/FHA and up to 10 days for VA loans. The pre-approval process, documentation reviews, conditional and final approvals, closing preparations, and funding are also covered, ensuring a timely and compliant loan completion.

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Comprehensive Home Loan Processing Workflow

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  1. Home Loan Process Flow • Received in Processing • Appraisal Ordered • Title Ordered • Verifications Ordered • IRS Transcripts • Fraud/LDP Checks • (2 – 4 days) Appraisal Timelines Conventional/FHA (3-4 days) VA – (Allowed up to 10 days to complete) • Loan Pre-Approval Process • Application • Credit Review • Income/Asset Review • (1–2 days) Receipt of Purchase Contract and All Addendums Home Inspection Ordered/Satisfactory (3-5 days) Robert J. Clifford412-7077 cell • Conditional Approval Issued • Further documentation needed Final Loan Approval issued (cleared to close) Resubmission & review for approval (1 day) Initial Underwriting (2 days) Preparation of HUD-1 & documents completed by Escrow (1 day) Timely Home Loan Completion! Compliance Quality Control & Document Preparation (2 days) Document Signing and Funding (1 day)

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