Mid-Month and Month-End Processing Guide

Century 21 Redwood Realty processing team is responsible for mid-month and month-end processing to ensure a quick and accurate closing for all transactions. Pull the Critical Data Report or review the Month-End Pending tab on the Processing/Commission Sheet (if updated) to track the current transactions that are still pending in our systems. Please review each transaction and audit the Paperless and Darwin files for compliance and completion so we can close out the deals for the month.  If the closing occurred, here are the steps you should be doing to follow up on pending transactions that are past the closing date:

Follow Up Procedures

1. Did the property close?
   1. Confirm if the closing date in Bright changed
   2. Contact Title Companies to confirm if/when settlement occurred
2. Did we receive the ALTA?
   1. Contact the Title Company for the deals that closed to request a copy of the ALTA. We MUST obtain ALL ALTA’s for every deal that closed (do NOT request ALTAs from the Agent for Highland closings)
3. Did we receive the Commission?
   1. Contact the Title Company to confirm if the funds were wired or mailed
   2. Contact the Title Company to confirm amount
   3. Contact the Title Company to confirm if/when the funds were disbursed
      • If the funds have not been disbursed, send the title company our commissions wire instructions. If they have our wiring instructions, we eliminate waiting for checks.
4. Is the Paperless Pipeline checklist complete and all documents received?
   1. If not, follow up with the Agent for outstanding paperwork
   2. Audit Darwin file to ensure the critical data fields are complete and accurate. Buyer/Seller, Closing Date, Sales Price, Loan Amount (buyer rep only), Title Company and Lender need to match the ALTA

Best Practices

• Add a note in the Paperless Pipeline and Darwinfile with an updated status of the follow up steps taken (date and initial)
• We can close out file without the commission wire/check on file IF we have a copy of the ALTA and coversheet
• Highland Title Closings: Do NOT request the ALTA from the agent. Email postclosing@highlandtitle.com for commission updates and ALTA requests.
• If we received commission and missing paperwork, change the status in Paperless Pipeline Have Funds, Cannot Pay to track of the transactions with outstanding paperwork (we will not pay the agent until the file is complete and all docs and funds are received).
• Send follow up emails to the agents/ EVP for any outstanding paperwork or if processing needs an update on the closing date