There are several steps in the actual mortgage process, as a home loan moves from application to funding. At Indigo Mortgage, we have developed a system to streamline that process and keep your mortgage moving quickly. To do that, we have created three departments: origination, set up, and processing.
Indigo Mortgage is a mortgage broker, that means we represent the borrower to the lender, working to find the best rates and lowest fees for the borrower. Our Origination department is responsible for taking the initial loan application, locking in the interest rate, and sending the borrower first set of disclosures from the lender.
Once the borrower has signed that initial set of disclosures, the loan moves to our next department, Set-up. Your set-up contact person will issue a second set of disclosures from us, and email a needs list of required documents to support the loan. All documents and communication take place via a secure online portal.
Once all of the documents are received and disclosures signed, the loan moves to our Processing department. Your Indigo Mortgage processor will submit the loan to the lender and work with the borrower and the underwriter to fulfill the conditions from the lender.
And when that process is finished, the processor directs the borrower to a title company who will set a date to close the mortgage loan.
By setting up three departments, Origination, Set Up and Processing, Indigo Mortgage moves your VA loan, refi, or new mortgage loan along the process smoothly. Even in the restrictions due to COVID, and with high demand since mortgage rates are the lowest in history, our process is allowing a refinance to close in 45 to 60 days. Purchases are still usually closing within 30 days. We’re here to make your refi or home purchase easy, so give Indigo Mortgage a call today with any questions about mortgages for your New Mexico property.