After your loan documents have been signed, there are two steps left in closing your loan: funding and recording.
Funding: Funding is the act of wiring funds from the lender to the borrower’s title company (it’s literally clicking a button). At this point, it’s reasonably safe to celebrate. Only once in 28 years have we seen a wire rescinded or returned.
Recording: Once your loan is funded, the final step is recording. To record is to file your deed or mortgage with the county recorder’s office, and typically takes place within 24 hours of funding (usually less). The document is time and date stamped to memorialize its recording position.
The deed representing a transfer of ownership from the seller to you is also recorded (you’ll receive the original after recordation). The original deed representing the mortgage indebtedness will be sent to the lender or their designee.
As always, we’re here, observing as things happen in real time. If anything goes off the rails, we’re in the loop and can respond quickly.