Once the application has been submitted, the processing of the mortgage begins. The Processor opens Escrow and orders the credit report, Appraisal and Title Report. The information on the application, such as bank deposits and payment histories is then verified. Any credit derogatories, such as late payments, collections and/or judgments require a written explanation. The processor examines the Appraisal and Title Report checking for property issues that may require further investigation. The entire mortgage package is then put together for submission to the lender.