Basics of the Loan Closing
Closing packages are not a few pages anymore! Starting with the closers who prepare the package to the title company representatives (or attorneys) who conduct closings, all must have a vast knowledge of the information on each document. In addition, title insurance plays an integral role in the closing process. The elements of title insurance, the different ways co-ownership can be held, and title terminologies are all presented in this course. Other closing documents are explained, including the clauses found in the Mortgage (or Deed of Trust) and the Note (Deed of Trust Note). This course will assist mortgage professionals in educating their customers about the closing process, enabling them to be well prepared for a smooth closing experience.
The course covers the following objectives:
The course covers the following topics:
- Learn the legal relationship between a borrower and a lender