Once a mortgage professional submits a Grant Application, what happens next?
The mortgage professional will receive a Gift Letter. This is an important underwriting document that will be useful in getting the loan processed and approved. Prior to closing, we will call both the escrow company to verify funding. We then send closing and wiring instructions to the escrow agent. The escrow agent will then sign the closing instructions and return them to us, along with their wire instructions. We then wire funds to the closing agent.
