Our “Loan Closing Agents” can assist mortgage brokers as well as lenders in streamlining their loan closing process to reduce loan processing time and costs. We prepare closing documents, coordinate with closing agents, review final conditions and ensure adherence to compliance statutes. The Client has to approve Final Closing Disclosure

Pre-Closing


  • Evaluating the vesting with the different parameters
  • Evaluating the payoff statement
  • Evaluating the tax-cert, and other files such as “closing instruction”, “clear to close” that are essential to prepare Closing Disclosure “CD”
  • Closing Services

  • Obtain “clear to close” or “final approval”
  • Closing document preparation & review
  • Verifying and approving the conditions once they come in
  • Examine title
  • Loan closing audits
  • Tax, insurance & reserve audits
  • Preparation of statutory statements
  • Deed preparation
  • Submit loan package to lender
  • Clear closing conditions
  • Contact hazard insurance company for new mortgagee clause
  • Prepare the document order form and fee sheet and fax to the loan officer for approval. Once approved, fax/email it to the lender
  • Preparing CD based on the closing instructions/fee sheets/invoices
  • Request a copy of the preliminary CD prior to closing for verification of figures
  • Obtain closing protection letter, wiring instructions and change the loss payee clause on the approved file
  • Coordinate and schedule closings
  • Follow the file to closing and through funding to make sure that everyone gets paid.
  • Escrow services

Housing and Urban Development (HUD)

The process is initiated once the closing documents are received and reviewed by pre-closing team


  • Prepare settlement statement which is the final accounting of all the costs, credits, payoffs, pays on accounts required by the lender
  • Calculation of funds required for closing or that the borrower would receive

Loan Post-Closing Services

We handle the receipt of signed and funded loan documents from multiple origination channels. We process them before dispatching the complete loan file to the custodial service provider. Key processes such as: the review of legal documents, origination documents, disclosure and HMDA documentation for regulatory compliance are performed, In addition, the team also validates compliance with loan processing, underwriting rules, performs identification and retrieval of missing mandatory documentation. Finally, loan data integrity validation is performed and the team issues a quality control report for the final documents. Exceptions (if any), are noted to the respective branches. We focus on validating the documentation involved in the closing process. Stringent verification of various legal documents, origination documents, disclosures received and the HMDA documentation follows to ensure that they comply with various mandatory requirements.


  • Trailing document retrieval
  • Assemble a post-closing loan package
  • Post-closing data integrity audit
  • Post-closing HMDA audit (LAR)
  • Tax, insurance & reserve audits
  • Due diligence setup
  • Customer service
  • Early payment default

Pre Underwriting Audit

Peoples Processing performs an audit to reduce risks and assure compliance with investor guidelines. We do this by verifying information and validating that all required documents are in the loan file early in the process. Key benefits offered include:


  • Minimizes funding problems
  • No “missing recorded documents”
  • Front end loan review
  • Efficient post-closing operation
  • Perform audits on conventional loans and government loans originated for sale to “FANNIE MAE, FREDDIE MAC, VA, FHA, and Private Investors”
  • Review closed loan files for completeness, accuracy and compliance to Bank policy and procedures
  • Review final 1003, credit report, HOI, Final CD and all credit documents
  • Review all appraisals to determine if value of property is supported
  • Receive and review for accuracy all recorded original documentation along with other closing documents and agency documents necessary for final pool certification