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Dry Closing Procedures

A “Dry Closing” is a mortgage closing where the funds are provided after all of the required sale and loan documentation has been received and reviewed by AFR. Signed closing documents must be received in AFR’s Corporate office in order for the funds to be disbursed.

The following states are considered Dry Closing States:

  • Alaska,
  • Arizona,
  • California,
  • Hawaii,
  • Idaho,
  • Nevada,
  • New Mexico,
  • Oregon,
  • Utah, and
  • Washington

AFR Corporate Office
American Financial Resources, Inc.
Attn: Post Closing Manager
9 Sylvan Way
Parsippany, NJ 07054

Fax Funding

If time restraints make waiting for AFR to receive the closing documents prior to disbursement difficult, “fax funding” is a possible option. Note: Fax funding must be prior approved by AFR Management.

Fax Funding Steps
  1. Notify the AFR Closer assigned to the closing that you wish to “fax fund”
  2. The AFR Closer will seek approval by AFR Management.
  3. If approved, the AFR Closer will supply a secure e-mail for the settlement agent to log into to upload the following documents:
    • Executed approved HUD;
    • Entire signed closing package;
    • A signed document from the title company stating they are ready to record and fund upon receipt of the wire and;
    • A copy of the air bill that will be used by the settlement agent to send the original documents to AFR.
  4. The AFR Closer will confirm receipt of the documents and their acceptance of them.

Note: All of the steps above must be completed by 2:00 PM/ EST in order for the funds to be sent out that day.

If there are any questions regarding the closing or funding process, please contact the assigned AFR Closer or e-mail closing@afrwholesale.com or funding@afrwholesale.com.