In a 'Table Funded' loan, in whose name is the loan closed?

In a 'Table Funded' loan, in whose name is the loan closed?

• A. Loan originator
• B. Independent Contractor
• C. Mortgagee Broker Licensee
• D. Designated Mortgage Lender

Answer: (D)

Table funded loans are funded by the lender at the closing table, so the paperwork at closing shows the actual lender who provides the funds. The entity that funds and owns the loan from the outset is the designated mortgage lender, and that's why the loan is closed in that lender’s name. The loan originator, independent contractor, or broker licensee is involved in arranging the loan, not funding or owning it, so their names don’t appear on the closing documents as the funder.

Table funded loans are funded by the lender at the closing table, so the paperwork at closing shows the actual lender who provides the funds. The entity that funds and owns the loan from the outset is the designated mortgage lender, and that's why the loan is closed in that lender’s name. The loan originator, independent contractor, or broker licensee is involved in arranging the loan, not funding or owning it, so their names don’t appear on the closing documents as the funder.