Realtor's Guide to Mortgage Processing: What Happens After Acceptance
Most real estate transactions falter in the mortgage process — not in negotiation. This guide helps Realtors understand what's happening on the lending side and how to advocate for their clients.
What You'll Learn
- What happens after a purchase contract is signed
- The 5 stages of mortgage processing
- What information Realtors should have ready
- Red flags that signal a file is in trouble
- How to communicate with the processor
The Full Explanation
Realtors who understand mortgage processing close more deals. CTC Processing provides real-time updates to the LO, who passes them to the Realtor — so no one is left wondering where the file stands.
Frequently Asked Questions
What should I send to the lender right after contract acceptance?
Send: fully executed contract (all pages, all addenda), contact information for all parties (seller's agent, title company, HOA management if condo), and property address with MLS number. CTC reviews the contract on intake.
How do I know if a mortgage file is on track?
The LO should be giving you weekly updates. Key milestones to track: appraisal ordered (day 1), appraisal received, underwriting submitted, conditional approval, clear-to-close. If the LO isn't proactively updating, ask.
What can a Realtor do to help a file move faster?
Get the buyer's documents to the lender immediately, deliver property access for the appraiser promptly, and push the HOA management company (if condo) for a quick questionnaire turnaround. These are the three most common Realtor-side delays.