Borrower must complete the loan application and return to the Lender and thereafter promptly furnish Lender with all requested documents and information. Borrower should comply with these requests quickly to avoid delays in closing.  Borrower also selects the settlement company to handle the closing at this time.

unchecked_checkboxBorrower’s lender (or Borrower in some cases) will notify Key Title that the refinance loan application is in process and will request information from Key Title regarding closing fees and title information for the property. Key Title will send the Borrower an Introduction Letter that includes an information form that should be filled out and returned to Key Title as soon as possible.  Key Title may also contact Borrower to collect certain information and documentation.

unchecked_checkboxAfter the Lender has approved the refinance loan for closing, Lender and Borrower will then coordinate with Key Title to arrange a date and time for closing. If any Borrower will not attend settlement, please contact Key Title and the Lender as early as possible in the process to make arrangements.  Please note that a General Power of Attorney may be insufficient because it lacks specificity and/or particular language.  A Special Power of Attorney can be prepared for the closing but it must meet the requirements of both the Lender and the Title Company. The original must be given to the settlement company at the time of closing.

unchecked_checkboxAny closing costs that are owed by the Borrower at settlement must be in the form of a certified or bank check payable to Key Title.  These funds can be wired as well. Please refer to the Introduction Letter for specific wire instructions.

unchecked_checkboxKey Title will provide the amount needed for the Borrower’s closing costs as soon as that amount has been approved by the Lender.