10 Steps to Funding
1. Submit a Loan Quote Request
Enter transaction and property details into Loan Quote Request form.
2. Initial Proposal / Collaboration
Receive an initial proposal via email detailing assumptions for profit / loss.
3. Lender Property Inspection
Meet to affirm property eligibility and Scope of Work plan.
4. Terms Agreement
Come to terms and agree on financing proposal.
5. Conditional Lending Commitment
MMI issues conditional financing commitment in writing.
6. Document Submission
Required documents submitted from Borrower to MMI for underwriting.
7. Underwriting and Approval
MMI performs due diligence and issues loan approval.
8. Document Preparation
Deed of Trust, Note, and closing documents are prepared based upon agreed terms.
9. Settlement Statement Preparation
Loan documents are sent to title company for settlement statement preparation.
10. Closing and Funding
Funding wire is sent and released upon MMI receiving signed funding package.