Ryan Buckley RealtorÂ®
Turning your Dream into an Address
Coldwell Banker Residential Brokerage
Rob Ryan, Real Estate Professional
The Luxury Home Division of West USA Realty
Once you are approved, and the escrow company sends all required, signed documents back to the lender, the lender sends a request to whomever they use for money to "fund the loan". Sometimes it is an "interim" lender because the loan originators sell the loan in the secondary market , usually called the investor. Most of the time the mortgage company, the ones you go to for the loan, have their "funding" line lined up, so they can "fund the loan" at closing. Then sell the loan, usually in a "package" of other, similar loans, to an investor. The investor has usually given the local mortgage company guidelines as to what kind of loans they will accept. It is quite a process, and, is what we in the real estate business need to keep you buyers happy !!
West USA Realty
I hope this helps.
Jose Dias, REALTOR