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The formal release of funds to the appropriate party occurs during the ________ phase of the loan application process. Transfer of ownership of real estate,

The formal release of funds to the appropriate party occurs during the ________ phase of the loan application process. Transfer of ownership of real estate, vehicles, or other property also occurs at this time.

	a.	Funding
	b.	Servicing
	c.	Underwriting
	d.	Closing

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