Do private money lenders have to physically be...

[Manuel Savorelli]

... at closing or could the buyer simply bring the various checks from independent PML's?

If they don't have to be there in person, how does the assigning of 1st, 2nd lien in case of default take place? 

Thanks much

[Jeff Rabinowitz]

Lenders do not usually attend closings--they usually wire funds. If you are using multiple lenders the position of each lien should have been a part of the terms of the loan. The closing agent should record the mortgages in the proper order. The senior mortgage should be recorded first.