loan application

ashley: on a day to day basis, the processoris i want to say it's the glue for the process. you know, we work with the underwriters, themortgage bankers, the title company, the closers. we work with the whole group that's connectedto the process. matthew: once the application is submittedit will go through basically a pre-application status where they'll review the file to makesure all the initial items that need to be there are actually there. that's the point,once it gets through that review that would be when i would obtain the file. matthew: i will also complete a similar reviewto make sure all the items that i feel need to be there are there, to make sure that weare presenting a full and complete application

to the underwriter once they review it. matthew: at that time the underwriter willreview all of the documentation, whether it be asset or income documentation and makean initial lending decision based on that. and then at that point the underwriter willpresent that decision to me. matthew: the mortgage banker and myself willreach out to the borrower, discuss whether it be approval or a suspense item or whateverthe decision may be, and then we go back and forth with the underwriting department untilwe satisfy all of the items which the underwriter wishes to review, until we have what we calla final approval. matthew: and at that point, a final approval,i move forward to an audit process just to

make sure that everything that needs to bein the file is in the file and everything matches our documentation as well as in thecomputer system. that way we're presenting a full and complete file to the secondarymarket ashley: when things are organized, the normalprocess takes about 35 to 40 days; and with all the documents and everything set intoplace and how it should be, the process can be done in 25 to 30 days.