When your loan has been approved by underwriting, the approval often comes with "conditions", which are items that have to be provided or explained before the loan is fully approved.

The first step in conditions are those that must be satisfied prior to loan documents being drawn.  These are called Prior to Doc conditions, or PTD for short.  The underwriter may ask for such things as updated pay stubs or bank statements, insurance documentation, or additional appraisal information.  The borrower must work with the loan officer to obtain this information and provide it to the underwriter as quickly as possible.

After all the PTD conditions have been satisfied, the loan is "cleared for docs".  Loan documents are prepared and sent to the title company for the borrower to sign.  There will be a new set of conditions that must be satisfied before the loan can be funded.  These are called Prior to Funding conditions, or PTF.  Most of these conditions are items that escrow and title must provide to the lender.

When the signed paperwork and all the outstanding conditions are gathered, everything receives a final review by the funding department.  If everything has been completed, the loan is funded and the transaction records the next day.