Closing Conditions

View "The Closing Process" Quick Reference Guide 

Use the Closing Conditions form to enter the conditions that must be met prior to closing the loan.

Closing Conditions:

1. In the Draw City and Draw State fields, type the city and state in which the closing documents will be drawn if not already completed. Typically, this is the location of the lender.

2. In the Closing County, type the county in which the loan will close. Typically, this is the location of the subject property.

3. Type the number of hours that the signed documents are required prior to disbursement of the loan proceeds.

4. Select Yes or No to indicate whether or not a termite report is required prior to closing the loan.

5. In the Closing Instructions/Conditions area, type closing instructions and conditions and/or click the New icon to add existing conditions.

• If you click the New icon, the Add Condition window opens.

• Select the Append to current list checkbox to append the new conditions to the current entries in the Closing Instructions/Conditions area.

To add conditions from underwriter conditions

• Select Add conditions from Underwriter Conditions, and then click OK.

• Select one or more conditions, and then click Add.

See Also:

The Closing Process