Each year, Mortgage Investors Group helps thousands of homebuyers select the home loan program best suited to their needs. Yet, few people outside of the mortgage lending industry understand the hard work happening behind the scenes that leads up to the memorable day when the borrower receives the keys to his or her new home. To commemorate National Mortgage Professionals Month this September, we’re sharing insights into the important roles each department plays in ensuring our borrowers are able to finance the home of their dreams. This week, we focus on the Closing & Post-Closing Departments.
Nearing the finish line is exciting, but you need enough fuel to get there, and that’s what our closing and post-closing team are there to do.
They ensure you have everything you need in the final stretch to get to that finish line and win the trophy, but in this case, it’s the keys to your new home.
We have a team of 17 closers and one support member, all of whom work hard not at the end of the loan process but right from the start. They are with you every step of the way, so there aren’t any unpleasant surprises or delays in your closing.
The Closing Team’s Job
The closing team creates all the documents you sign at your closing. They are responsible for your Closing Disclosure, mortgage deed, mortgage note, and all the disclosures you sign when you borrow a mortgage.
It’s their job to ensure all details are correct and that you have the right amount of cash to close. They create the Closing Disclosure at least three business days before your closing so you can ensure all the final closing cost numbers are what you expected.
Our closing team works with the processors and underwriters from day one, so you don’t have any unexpected delays getting your loan to the finish line.
The Post-Closing Team’s Job
Our job isn’t done after the closing. So our post-closing team takes over even after you’ve crossed the finish line because it’s not over yet.
Our team of 13 post-closers ensure your mortgage deed is properly recorded at the courthouse, your loan is insured with the right agency, and take care of the mortgage note until it’s sent to the warehouse bank.
The post-closing department also audits all paperwork and takes care of any missing signatures or issues that come up with the closing documents to ensure your home’s ownership is transferred correctly.
The post-closing department has a fine eye for detail and ensures the loan is 100% ready for investor purchase, so there aren’t any issues or delays for the lender or borrower.
The Closing Team at MIG
Our closing and post-closing teams cover almost 1,300 loans monthly. They have the most advanced technology and training to ensure they can do their job efficiently while helping our borrowers celebrate their win with their keys in hand.
We pride ourselves on the hands-on approach our closing team has with each file from the start. We don’t make our borrowers wait until the final hour for the Closing Disclosure. Instead, our pit crew has that CD in your hand much sooner than the law requires, allowing you to go to the closing table feeling knowledgeable and empowered.
Every team member works closely to ensure every loan meets all state and federal guidelines, and we can even offer hybrid closings thanks to our membership with the MERS eRegistry.
Bottom line, our closing and post-closing team provide everything you need to make sure you’re across the finish line, and the trophy is yours to keep.