DFD
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This document outlines the mortgage approval process, which involves reviewing customer bank records and documents, performing checks by an underwriter, informing the bank if the loan is approved or not, drawing up documents if approved, issuing a funding check, and closing the transaction with signed documents.
DFD
- 1. CUSTOMER BANK Application & Documents Documentation Bank Records Documents Reviewed and adds new records Record Checks Under -writer Bank Reserves Checking of amount Takes out the required amount Asks the underwriter to check Checks the documents Bank is informed if the loan is approved or not Escrow Company Documents are drawn Funding Check is issued Transaction is Closed Signing of documents STEP 8 STEP 7 DFD OF MORTGAGE PROCESS