Regions Mortgage Home Loan Process
 Prequalification
Borrower
· Discusses home
 
affordability and
mortgage options with
Mortgage Loan
Originator
Mortgage Loan Originator
· Helps find best
Mortgage product to
meet Borrower’s
financial needs
 Servicing
Borrower
· Makes loan payments to
Regions
Regions Servicing Department
· Collects loan payments
· After loan closing, assists
Borrower with any
questions
© 2015 Regions Bank.
 Application  Initial Underwriting  Processing
Mortgage Loan Originator Borrower
∙ Provides loan options to Borrower Loan · Provides additional
· Quotes interest rates/fees File documentation requested by
· Completes loan application / Requests documents Processor
needed for underwriting the loan file · Provide homeowner’s
· Provides Loan Estimate and other disclosures to Borrower Underwriter insurance
· Orders Appraisal · Reviews initial documenta-
Processor

tion for credit qualification
· Submits loan package to operations center for decision
· Determines if additional · Confirms terms and
· Locks in interest rate conditions with borrower
Borrower documentation is needed
· Issues conditional · Collects all additional
∙ Works with Mortgage Loan
approval subject to any documentation
Originator to complete the
additional documentation · Re-submits file for final
application
needed underwriting decision once all
∙ Provides initial documentation documentation is collected
(tax returns, pay stubs, bank · Submits to Processor to
collect additional
statements, etc.) necessary for
documentation Appraisal Reviewer
underwriting
· Reviews Appraisal
for value of property
· Issues appraisal to
 Loan Closing Borrower

Loan Closer
· Prepares and sends loan closing document package to Closing Agent
· Wires loan funds to the Closing Agent
Closing Agent
 Final Underwriting

· Schedules the loan closing

· Informs Borrower of funds needed to close
· Explains to Borrower final documents to be signed
Underwriter
· Witnesses Borrower signature on all required documents
· Ensures all conditions from
Borrower initial underwriting are met

· Signs final loan documents presented by Closing Agent · Issues final loan
· Provides funds needed to close decision
Mortgage Loan Originator
· Attends closing to answer questions and review closing documents