So here I’m providing a description of some of the outside services that lenders must use during the process, what they are and how they are used.
Other Related Mortgage Services
Real Estate Brokers and Real Estate Sales Associate: These professionals assist consumers in the buying and selling of real estate. The real estate professional is usually the first contact consumers have when deciding on a real estate loan and they refer their clients to a mortgage professional.
Title Companies: Title companies perform a title search on the property and issue a title policy for the lender and the purchaser to insure there is a valid mortgage lien against the property and the title is clear.
Closing Agent (Escrow): This entity facilitates the closing of a mortgage loan by acting as an impartial third party. The closing agent can be an escrow company, an attorney or title company agent depending on the region.
Appraisers: This professional evaluates the market value of real estate for the buyer and the lender.
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