Wrap transaction coordinator for wraparound files.
In a wrap the buyer signs a new note to the seller that wraps around the seller’s existing loan. The buyer makes one payment to the seller or a servicer, and the existing lender keeps getting paid out of it. It is one of the most document-heavy creative files: the recorded deed of trust is read first, your attorney drafts the wrap documents, and the disclosure, title and servicing steps each have a date.
The wrap checklist. Tap each item as you read it.
Every wrap file gets this list, in this order. When the bar is full, you have seen everything Kristen tracks from contract to first payment.
Kristen coordinates. The licensed people do the licensed work.
On a wrap file the lines are the same as on every file. Clear roles are what keep a creative deal clean.
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01
Your attorney drafts
The note, deed of trust, addenda and any state-required notices come from your attorney. Kristen never drafts a legal document and never gives legal or tax advice.
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02
Your title company closes
Title search, commitment, closing, funding and recording happen at your title company or closing attorney. Kristen keeps them supplied and on schedule.
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03
Your servicer collects
Payments after closing run through a loan servicer. Kristen sends the setup packet and confirms the account is live. The servicer collects.
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04
A lender lends
Dean Creative Closings is not a lender or mortgage loan originator. Who may originate a seller-carried note is a question for your attorney or RMLO.
Dean Creative Closings is not a law firm, lender, mortgage loan originator or title company and does not give legal or tax advice.
What usually goes in a wrap file.
Your attorney and title company set the final list. These are the items Kristen asks for first, and who usually provides them.
- Signed purchase contract From You
- Current mortgage statement From Seller
- Recorded deed of trust and note From Seller or county records
- Lender authorization form From Seller
- Wrap disclosure, where required From Your attorney
- Entity documents From Buyer
- Insurance declarations page From Seller
- Servicer setup packet From Your attorney and servicer
One flat price. Add only what the file needs.
$1,295 for a wrap file. $250 opens it and the balance is due at closing. The three add-ons are priced the same on every deal type, and the full list with a total builder is on the Pricing page. New to wraps? Read what a wrap around mortgage is first.
Setup packet to your servicer, account confirmed before closing. $250
New policy placed with the right parties named, old policy handled. $150
Closing in under 10 days. $250
The ones wrap clients ask first.
Plain answers. The full list is on the FAQ page.
Are there state rules for wraps?
Some states have them. In Texas, Finance Code 159.101 requires a separate written disclosure on or before the seventh day before the wrap mortgage loan agreement is entered into. Your attorney confirms the rules for your property’s state. Kristen tracks the dates your attorney sets.
Will any title company close a wrap?
Some title companies are more willing to insure wraps than others. Kristen confirms your title company will before the file moves on, so you are not switching companies the week of closing.
Who pays the existing lender after closing?
The seller does, unless a third-party servicer collects the wrap payment and pays the underlying loan from it. If you use a servicer, Kristen sends the setup packet and confirms the account before anyone signs.
Do you give legal or tax advice?
No. Dean Creative Closings is not a law firm, lender, mortgage loan originator or title company. Kristen keeps the file organized and moving between the people who do those jobs.
Not a wrap? The other five.
Same checklist discipline, priced flat per file. Or tap through the picker.
Open the file today. Kristen takes it from here.
Wrap file $1,295. $250 opens it, $1,045 at closing.
Call or text 940-206-4427 or email kdean2014@yahoo.com