When you apply for a mortgage, lenders need your written permission to order an appraisal and start coordinating with title and insurance companies. This government requirement is called the intent to proceed.
A big part of the initial loan disclosures is called the intent to proceed. And really, all it means is it gives us the okay to continue working on your loan. This is a standardized government thing. So all lenders must get what's called the intent to proceed initialed to allow them to continue working and progressing on your loan. So, again, you're not closing the loan on this. It literally just gives the okay to work on your behalf. And what that means is, when the intent to proceed is initialed or e signed, we can then order your appraisal. We can communicate with your title company, we can communicate with your insurance company. So we can kind of work on your behalf of getting everything orchestrated and put together. But this is an actual government rule where the lender has to get your okay, which is called the intent to proceed, to continue finishing up the loan.
