As above, if more information is needed the loan goes into suspense. Otherwise it is usually returned back to the mortgage company within 48 hours. During this time the title insurance is ordered, all approval contingencies, if any, are met, and a closing time is scheduled for the loan. Closing Closing usually occurs between days 30 and 45 of the loan. This is the point at which the borrower finishes the loan process and actually buys the house.
Closings occur at different places in different states.
For instance, some states require that the closing take place at a closing attorney's office while others use a title or escrow company.