FUNDING CONDITIONS
After the loan documents have been signed the lender may issue funding conditions that must be satisfied before they will fund the loan. Typically these will consist of additional paperwork that must be submitted and may require additional signatures by the buyer.
Escrow takes care of the funding conditions. After these are completed the next step is for the lender to fund the loan (place the funds into escrow).
Jim Forsyth. College Realty Inc. GMAC Real Estate. 14767 Bear Valley Road, Hesperia, CA, 92345