Mortgage Loan Process

Mortgages

See how to check mortgage application status, upload documents and more.

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The mortgage loan process doesn't have to be difficult. Once you have made the decision to pursue applying for a mortgage loan with Regions, your Mortgage Loan Originator will work with you to obtain the necessary documentation required for a loan decision.


Below is a summary of the mortgage loan process so you'll have a better understanding of what you can expect:

1. Borrower

  • Contacts Mortgage Loan Originator for financing information
  • Provides initial documentation (tax returns, pay stubs, bank statements, etc.) necessary for underwriting
  • Provides homeowner's insurance
  • Signs final loan documents presented by Closing Agent
  • Provides funds needed to close

2. Mortgage Loan Originator

  • Discusses Borrower’s financial situation to identify needs
  • Makes product recommendations to meet Borrower’s needs
  • Assists in completing the loan application
  • Requests documents needed from Borrowers for underwriting the loan file
  • Provides Loan Estimate and other disclosures to Borrower
  • Orders Appraisal
  • Submits loan package to Operations Center for decision
  • Locks in interest rate

3. Underwriter

  • Reviews initial documentation for credit qualification and ensures all conditions are met
  • Submits file to Processor to collect additional documentation
  • Issues final loan decision

4. Processor

  • Confirms terms and conditions with borrower
  • Collects all additional documentation
  • Re-submits file for final underwriting once all documentation is collected

5. Appraisal Reviewer

  • Reviews Appraisal for value and condition of property
  • Works with appraiser to resolve any issues with appraisal
  • Issues approved appraisal to Borrower

6. Closer

  • Prepares and sends loan closing document package to Closing Agent
  • Wires loan funds to the Closing Agent

7. Closing Agent / Attorney

  • Schedules the loan closing
  • Informs Borrower of funds needed to close
  • Explains to Borrower final documents to be signed
  • Witnesses Borrower signature on all required documents

View the step-by-step diagram of the Mortgage process