<aside> <img src="/icons/list_gray.svg" alt="/icons/list_gray.svg" width="40px" /> Table of Contents

• Super Admin
• Loan Officer
• Loan Officer Assistant
• Branch Manager
• Borrower Journey
• Partner Journey
• Processing Manager

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Following the submission to processing, the borrower journey in MLOFLO continues through several crucial milestones until the loan is closed.

Milestones and Navigation

Upon reaching the "Submitted to Processing" milestone, the borrower journey continues through the following milestones:

1. Submitted to Processing
2. Disclosures
3. Under Writing Submitted
4. Conditional Approval
5. Conditions Submitted
6. CTC (Clear to Close)
7. Preparing Final CD
8. Closing Disclosure
9. Closing Package Sent
10. Closed

Overview Tab

• Days Until Closing: Displays the countdown to the loan closing date.
• % Loan Status: Shows the percentage completion of the loan process.
• Recent Activity: Summarizes all recent actions performed.

Application Tab

• Details: Contains all the information previously filled out by the borrower during the initial application process.

Documents Tab

1. Documents Review:
   • List of Required Documents: Displays a list with columns named:
     • Document Title
     • Assignee (Borrower Name)
     • Status
     • Updated On (Date)
     • Action (Upload Document, View Document)
   • Upload Documents:
     • The borrower uploads the requested documents by clicking "Upload Document" in the Action column.
2. Loan Officer Approval:
   • Approval Process: Once the borrower uploads all requested documents, the loan officer reviews and approves them.
   • Status Update: Approved documents are reflected in the Documents tab with the status updated to "Approved."

Milestones Progression

1. Submitted to Processing

• Status Update: The loan officer updates the status to "Submitted to Processing" after all necessary documents are uploaded and approved.
• Process: The loan moves to the processing stage where all documents are thoroughly reviewed for completeness and accuracy.

2. Disclosures

• Disclosure Documents: The borrower receives all required disclosure documents that must be signed and returned.
• Status Update: Once disclosures are sent and acknowledged by the borrower, the status updates to "Disclosures Signed"

3. UW Submitted (Underwriting Submitted)

• Underwriting Submission: The loan officer submits the complete loan package to the underwriter for review.
• Status Update: After submission, the status changes to "UW Submitted."

4. Conditional Approval

• Underwriting Review: The underwriter reviews the loan package and issues a conditional approval, listing any additional conditions that need to be met.
• Status Update: Upon receiving conditional approval, the status updates to "Conditional Approval."

5. Conditions Submitted:

• Loan Officer Review: The loan officer reviews and verifies the submitted conditions.
• Status Update: Once all conditions are met and verified, the status changes to "Conditions Submitted."

6. CTC (Clear to Close)

• Clear to Close: If all conditions are satisfied, the underwriter issues a "Clear to Close."
• Status Update: The milestone updates to "CTC."

7. Preparing Final CD (Closing Disclosure)

• Closing Disclosure Preparation: The final Closing Disclosure (CD) is prepared, detailing all terms and costs associated with the loan.
• Borrower Review: The borrower reviews the CD for accuracy and completeness.
• Status Update: The milestone changes to "Preparing Final CD."

8. Closing Disclosure

• Final Review: The borrower conducts a final review and signs the Closing Disclosure.
• Status Update: Once the CD is signed, the status progresses to "CD signed".

9. Closing Package Sent

• Package Preparation: The complete closing package is prepared and sent to all relevant parties, including the borrower and the title company.
• Status Update: The milestone progresses to "Closing Package Sent."

10. Closed

• Closing :All final documents are signed, and the loan is officially funded.
• Status Update: Upon completion of the closing process, the milestone changes to "Closed."

By following these detailed steps, borrowers can seamlessly navigate through the MLOFLO system from the "Submitted to Processing" milestone to "Closed," ensuring a smooth and efficient loan closing process. Each milestone represents a critical stage in the journey, with clear actions and status updates to keep borrowers informed and on track.