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Hi there! This is my first post. My fiance and I are buying our first home in Illinois (Will County). We are SO excited and I think we're almost there. We've just been waiting on two documents from the sellers side: the IHDA sellers affidavit (We're using the Welcome Home Illinois program) and the title commitment. I emailed our attorney last night to check on the title and she replied with: "No response yet. Your lender has provided the mortgagee information so hopefully we will see it tomorrow."
What does it mean that our lender has provided the mortgagee information?
If this additional info helps: I did my own search of public records and from what I can see, it seems that the title is clean. We were conditionally approved on 11/7 with very easy conditions filled, our DTI and our credit is pretty good (not the absolute highest scores because my credit history isn't that long, but both credits are very clean with no negative remarks) and our lender said that the appraisal looked good (we'll get that sent to us soon but we know that it appraised for just a few thousand more than what we're paying), and that our file is very straight forward. Our tentative closing date isn't until 12/4, but we're hoping to maybe close just a bit earlier if possible.
Anyone else currently waiting for the clear to close?
What does it mean that our lender has provided the mortgagee information?
For the mortgage, you will be the mortgagor (you are the one mortgaging the house--putting it up as collateral for the loan); the lender is the mortgagee. So...they provided their necessary information.
Thanks for the reply! I spoke to the attorney and she had explained that to me. I knew that the mortgagee was the lender, but just wasn't sure exactly which information they had provided.
We're still waiting on the title commitment from the seller's attorney. My lender let me know that if we received it today, there's a really good chance that we could get our clear to close by Wednesday. So here's hoping!
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