Get the free Post-Closing File Review Notes for SONYMA Express Loans 041015docx - nyshcr

SubmissionofSONYMAExpressPostClosingLoanFiles TrainingModule RevisedMarch2015 3/2/15 ThismoduleisintendedtoassistLendersincompletingandpackagingthepostclosingloanfilesthat mustbesenttoSONYMA forreviewandapprovalasdescribedinAppendixVIoftheSellersGuide.

How to fill out post-closing file review notes

How to Fill out Post-Closing File Review Notes:

1. Start by reviewing the closing documents and ensuring that all necessary forms and paperwork are included and properly completed. This may include the loan documents, title insurance, deeds, and any other relevant paperwork.
2. Take note of any discrepancies or errors that you come across during your review. This could include missing signatures, incorrect dates, or any other mistakes that may need to be addressed.
3. Make sure to document any issues or concerns that you identify during your review. This could include noting any missing or incomplete documents, as well as any errors or discrepancies that need to be corrected.
4. If there are any outstanding items or tasks that need to be completed, list them out and make note of who is responsible for completing them. This could include follow-up tasks such as obtaining missing documents or resolving any issues that were identified.
5. Keep track of any important deadlines or time-sensitive matters that need to be addressed. This could include tracking the expiration dates for any required documents, as well as any deadlines for completing outstanding tasks.
6. Once you have completed your review, summarize your findings and recommendations in a clear and concise manner. This may include highlighting any major issues or concerns, as well as providing suggestions for how to address them.
7. Provide a copy of your post-closing file review notes to the relevant parties, such as the loan officer, title company, or anyone else who may need this information. This will ensure that everyone involved in the closing process is aware of any issues or tasks that still need to be completed.
8. Follow up on any outstanding items or tasks to ensure that they are completed in a timely manner. This may involve reaching out to the appropriate parties and providing any necessary guidance or assistance.
9. Keep a record of your post-closing file review notes for future reference. This will allow you to track any issues or concerns that may arise during the closing process, as well as provide a reference for future closings.

Who Needs Post-Closing File Review Notes:

1. Lenders or mortgage companies: Post-closing file review notes are essential for lenders or mortgage companies to ensure that all necessary documents and paperwork are properly completed, reducing the risk of any legal or compliance issues.
2. Title companies or closing agents: Title companies or closing agents can benefit from post-closing file review notes to ensure the accuracy and completeness of the closing documents, minimizing the risk of any errors or omissions.
3. Real estate professionals: Real estate professionals, such as real estate agents or brokers, may find post-closing file review notes useful in verifying the accuracy of the closing documents and addressing any concerns or discrepancies that may arise.
4. Homeowners or borrowers: Homeowners or borrowers also have a stake in post-closing file review notes as it provides them with assurance that all necessary paperwork has been properly completed, protecting their interests and ensuring a smooth transition into homeownership.

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What is post-closing file review notes?

Post-closing file review notes are a detailed report documenting the findings from a review of a real estate transaction file after it has been closed.

Who is required to file post-closing file review notes?

The party responsible for closing the real estate transaction, such as the real estate agent or attorney, is typically required to file post-closing file review notes.

How to fill out post-closing file review notes?

Post-closing file review notes should be filled out by documenting any discrepancies or issues found during the review process, along with recommendations for resolving them.

What is the purpose of post-closing file review notes?

The purpose of post-closing file review notes is to ensure that all aspects of the real estate transaction were handled properly and to identify any potential issues that may need to be addressed.

What information must be reported on post-closing file review notes?

Post-closing file review notes should include details such as the names of the parties involved in the transaction, the property address, the closing date, and any issues or discrepancies found.