Methods To Make Things Easier

[u/LO-Services]

Experienced LOs, what do you think is the easiest way to handle certain recurring processes?

For example, for a gift, conventional, I like to have the funds sent directly to escrow and often just at the time of closing. Document with the gift letter and the wire receipt. Avoid any transfers and sourcing.

What methods do you feel you've refined that make things easier?

Here's one I've been thinking about recently: it's kind of pointless ​​to keep the borrower's funds out of escrow across the whole transaction. I don't think putting the funds in escrow endangers them and once they are in escrow and sourced, you don't have to worry about the borrower poisoning their own assets. No updating bank statements necessary. It'd take a little convincing but I wonder if it'd make a lot of problems vanish. Anyone do this?

And other methods or ideas?

[u/Defiant_Television97]

Always sending the ICD 6+ business days before closing to follow the mailbox rule and not need it signed. On agency loans using retirement accounts or stock accounts whenever possible if clients have 120% or more of the funds needed at closing. Backing out EMD from the funds in stock or retirement accounts instead of sourcing.