When you have decided to partner with Community Bank Mortgage, an online portal and application will be placed on your website. Your customer can sit down with your loan officers to the complete the application, or they can do it from home. The application requires all information to be entered before submission, so you don't have to worry about missing any data.
Once it has been submitted, both your loan officer and Community Bank Mortgage receive an email. We start processing the loan immediately by sending out early disclosures. We will order the appraisal for you, title opinion or guarantee, flood search, etc. - all from the providers that you chose. Once all of the information has been received, we will send you a closing packet with all of the documentation necessary to finalize the deal. We will, in turn, sell the loan to Federal Home Loan Bank (FHLB).
Due to FHLB regulations, the loan must be closed in our name. However, when you sign a contract with us it states that we will never contact your customers. We want you to be the face of your loans - we are simply helping with the workload. Even if your customer comes to us to refinance their mortgage down the road, we will send them straight back to you.
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