We make the home buying process Stress-Free and enjoyable!
With EMB Lenders you are working directly with the lender, eliminating any broker or middle man. This translates into big savings, competitive interest rates, and quick underwriting turnaround times. So sit back, relax, and enjoy the home buying experience as we seamlessly take you from application to closing in record time - The EMB Lenders Way!
Loan Manufacturing Process- At EMB Lenders we do not see ourselves as simply providers of a service but also as sellers of goods. Accordingly, we strive to not only offer exceptional service, but a quality loan product to match. In doing so we have transformed the loan application process into a science by infusing the teachings and strategies of six sigma into the various stages of the loan process. These various stages are referred to as "milestones" with each allotted a certain amount of time before they must be moved onto the next milestone. If a loan falls outside of the milestone benchmark, it is quickly flagged by our tracking department. This tracking system alerts us of a potential problem and enables us to get ahead of a situation and quickly find a solution. With EMB Lenders every loan is held to the highest standard of perfection!
When completing the online application be as thorough as possible. If you have questions reach out to your trained mortgage loan originator for guidance, discuss homeownership goals, and expectations.
Once we have a complete loan application we will provide you with your loan estimate. The Loan Estimate will be provided to you within 3 days of us receiving your complete loan application. We also suggest that you go to the Consumer Finance Protection Bureau website and become familiar with your rights and protections as a home buyer. The CFPB was created to protect you and your interest.
Confirmation Of Intent To Proceed
Once we have electronically received your intent to proceed your loan will go through our initial Quality Control set up. At this stage the loan opener will review your credit file and order services, such as appraisal, 4506’s, verifications of employment and assets.
Once the loan reaches the processing milestone, the loan processor will ask for additional documents and letters of explanation. It is very important that the client work closely with the loan processor, and return the requested documentation as soon as possible. The reason the processors asks for additional documentation is because every loan needs to meet specific eligibility criteria for loan approval. The processors are junior underwriters, they know the requirements of loan program and assure the loan file has all the data required to receive final approval from the underwriter.
The underwriter reviews the complete loan file- credit, appraisal, title, income, assets. Upon complete review the underwriter certifies that the loan meets eligibility criteria to receive loan approval.
This is your last step prior to closing. You will receive a closing disclosure 3 days prior to closing date, upon confirmation of receipt of closing disclosure we can work with your attorney or title company to schedule your closing.
Congratulations, are in order, this completes the last milestone of the LMP!