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Lender & Mortgage Broker

Roles & Responsibilities During the Closing Process

LENDER & mortgage broker

Congratulations! You have an Executed Contract…Now What?!

Next steps after a Contract is signed by both Buyer and Seller





1. Please send the fully executed contract to welcome@foliotitle.com with the following information:

a) Mobile phone number and email of your client
b) Mobile phone number and email of the other agent
c) Name, Mobile phone number, and email of the lender or mortgage broker (if applicable)
d) Association contact information (if applicable)

2. Once we receive this information, our Onboarding Team will open the transaction in our Closing System within the next 6 to 24 business hours and assign a Processing & Closing Team to start working on your file immediately.

3. You will receive an email from our Onboarding team with the following:

a) A link to fill out a form with the information we need to begin processing the file. Delays in this information may delay the closing
b) A timeline of Key Contract Dates
c) An introduction to your Processing & Closing Team
d) Wire Information and Wire Fraud Prevention Tips

4. We offer our clients and their real estate agents a personalized Onboarding experience with the following services:

a) A personalized Whatsapp Chat Group for each transaction (optional)
b) Onboarding videos and checklists for all parties
c) A follow up Introduction call with the Processing and Closing team to answer any questions the clients or real estate agents may ask

5. Please provide your Title Request, including Loan Amount and Mortgagee Clause, as soon as possible to the Processing & Closing Team assigned to your file so they can prepare and send the PreCD, CPL, 24 Month Chain of Title, and other Title Request documents as soon as possible.

6. Our team will order the title search and lien search within 24-48 business hours of opening the file in our system.  Surveys and Estoppels are usually ordered after the Inspection Period and sometimes after the Appraisal results. If you have any questions as to these orders or their timing, please let us know.

7. We ask that if you believe there will be any changes to the Closing Date, including a Closing that is earlier than the Contract Closing Date, you let us know as soon as possible as this may affect the timeline of key documents that expire and this may incur unnecessary additional expenses. For more information about the differences between the Contract Dates and Expected Dates, please click here.


All videos can be watched in 2x speed. 

Chapter 1: What is the Role of the Title Company in the Purchase & Sale Process and Why is Title Insurance so Important? (04:55)
In this video, we will explore the role of the title company in the real estate closing process in Florida, how to protect your real estate investment with title insurance, and we will learn about the role of the Escrow Agent.





Chapter 2: How does the Closing Process work? What are the Key Milestones, Dates, and Responsibilities that a Buyer needs to know? (14:01)

Get to know each stage of the closing process: Inspection period, Due diligence and financing, Pre-closing, and Closing. Learn what to expect in each stage and the most important dates and responsibilities to keep in mind during the transaction. 

Chapter 3:Frequently Asked Questions about the Real Estate Closing Process for Buyers and Real Estate Agents (13:39)

During the closing process, clients have understandable concerns and questions, which is why in this video, we review some of the most common questions related to the Closing Process:

  • Closing logistics – Where and when will we sign our closing documents?
  • How does the escrow deposit work and where do I send the money?
  • What is a condominium approval? Why is it so important and how does the process work?
  • What is the Role of the Lender, Real Estate Agent, and Title Company
  • What Information is required to Close an on-time and stress-free transaction?

These videos are presented by Ricardo Teran, co-founder and Director of Business Development of FOLIO Title.

If you have any additional concerns, please do not hesitate to contact us at support@foliotitle.com, visit our website www.foliotitle.com, or write to us at +1 (786)-888-6640.


To download the blank checklist for use in your transactions, click here.


Help clients get pre-qualified for financing; provide a Loan Estimate to Borrowers and explain the difference between actual “costs” of Closing and required lender’s escrows, inpounds, and prepaid policies.

PRO TIP: Ensure MLO has a quote from FOLIO Title and incorporates it into the Loan Estimate. For a quote, please reach out to us at quotes@foliotitle.com or call us to 786-888-6640.

Inspection Period

 Provide initial Loan Application and Disclosures requirements and *Loan Estimate*.

PRO TIP: Ensure Buyer’s Mortgage Loan application is done in the same name as they would like to appear on title so that your title and mortgage will have the same names. Using the names as they appear on Buyer’s photo ID is a good way to ensure the names are consistent and avoid delays on the day of Closing.

Order and Coordinate Appraisal Report.

Help client understand the Appraisal Process and Loan Process.

Provide the Closing Agent with a Title Request as early as possible to ensure the Mortgage Loan Officer receives a pre-CD, CPL, Chain of Title, and other required documents as early in the process as possible.

Contract Due Diligence and Financing Period

Obtain Appraisal Report and share with Borrower.

Continue underwriting the loan for Condition Loan Approval.

Provide Conditional Loan Approval during the Contract Loan Approval Period; if any delays in providing Conditional Loan Approval are foreseen, coordinate with Borrower or agent a possible extension with Sellers to ensure contract compliance.

Pre-Closing & Closing

 Provide Clear to Close and CD for Borrowers Signature at least three days before Closing; provide Closing Agent a copy to try and reduce the time it takes to “balance” a file during Closing Process.

Assign a closer and prepare and send a lender package to Closing Agent.

Send loan funds to Closing Agent.

Contact us to learn more about how FOLIO can simplify your closings.

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