Loan Proceeds Disbursement

We issue Cashiers Checks for loan proceeds. With this procedure we cannot place a stop payment on the Cashiers Check. Will someone please share with me the procedure they use for disbursement of loan proceeds?

Typically I've seen Cashier's Checks, Loan Checks and direct deposit to the borrower's account. The first and last being the most prevalent.

For mortgage lending, we use settlement agents. We send them closing documents and net fund by wire. They are responsible for all distributions.

The only challange is where the settlement agent might have a change to the HUD-1, and then we require the HUD-1/a be faxed to us for TiL recalculation.