Let’s review the actual mortgage process and how the home loan moves from application to funding. At Indigo Mortgage, we have developed a system to streamline the loan process. To do that, we have created three departments: origination, set up, and processing.
Indigo Mortgage Colorado is a mortgage broker, which means that we represent the borrower to the lender. The Origination department is responsible for taking the loan application, locking the loan’s interest rate, and sending out the first set of disclosures from the lender.
Once the borrower has signed that first set of disclosures, the loan moves to the next department, Set-up. Your set-up person will contact the borrower, issue a second set of disclosures from us, and send a needs list of required documents to support the loan.
Once 100% of the documents are received and disclosures signed, the loan moves to the Processing department. Our Indigo Mortgage processor will submit the loan to the lender and work with the borrower and the underwriter to fulfill the conditions from the lender.
And when that is complete, the processor sends the borrower to a title company who will set a date to close the mortgage loan.
By setting up three departments, Origination, Set Up and Processing, Indigo Mortgage moves your VA loan, refi, or new mortgage loan along the process smoothly. Even in the current COVID situation, with mortgage rates the lowest in history, our process is allowing a refinance to close in 45 to 60 days, but purchases are still usually closing within 30 days. We’re here to make your refi or home purchase easy, so give Indigo Colorado a call today with any questions about mortgages.