Mortgage businesses often need a little extra help when it comes to processing loans. They have to take care of several back-end tasks before they can issue loans. Some examples of such tasks are having to check the backgrounds of the mortgage loan applicants, ensuring the loans they issue are compliant with the current rules and regulations, etc.
These tasks take up a lot of time, and doing it alone may slow down the whole process and make it difficult for you to keep up with competition. Mortgage virtual assistant services help mortgage businesses carry out these day-to-day tasks while you can focus on their core business activities.
5 Mortgage Virtual Assistant Services You Must Check Out
1) Interacting with the Customer
When new prospects come to you for a mortgage loan, it is essential that you are able to communicate with them as and when needed. Mortgage virtual assistance services will help you accomplish the following tasks efficiently:
- Being the point of contact for the prospects when they want to communicate something.
- Update the loan applicant about the any changes in the status of their loan.
- Calling up the perspective home buyers who have expressed their interest through chat, email, call, social media, or any other means.
- Making follow up call to the leads.
- Answering calls from mortgage loan seekers.
2) Providing Support in Mortgage Loan Onboarding
The loan onboarding process is a bit tedious as it comprises several mortgage tasks. Mortgage virtual assistance services helps lenders complete these tasks as quickly and as efficiently as possible. Here’s what they do:
- Collecting relevant documents and setting up an application.
- Filling up 1003 in the LOS (Mortgage Loan Origination System).
- Indexing of documents within LOS place holders and entering the necessary data.
- Helping out processors by collecting documents important to clear underwriting conditions.
3) Managing Calander
Loan officers often have to meet with several leads and customers in a day. Scheduling and keeping track of the meetings is quite a task. However, with mortgage virtual assistance services you can rest easy, as your virtual assistant would take care of all the important tasks like:
- Taking your schedule into account and setting up meetings.
- Rescheduling or cancelling appointments and informing the same to the participants.
- Take down notes in a meeting or providing transcription audio.
- Setting up follow up meetings or chart out the actions discussed in the meeting.
4) Managing Risk
Mortgage virtual assistant services help lenders avoid the different types of risks associated with mortgage lending. The virtual assistant work to analyse, identify, monitor, and eliminate elements that may prove to be a costly mistake in the future.
They also ensure that the loan your mortgage business issues is compliant with both State and Federal laws of the time.
5) Taking Care Of QA And QC Tasks
Mortgage virtual assistant services helps lenders make their mortgage quality control process more stringent. The virtual assistants take up loan audits in both the pre-closing and post-closing stages to ensure that the quality standard is always met.
Some of the tasks in the pre-closing tasks that virtual mortgage assistants can do include:
- Reviewing the files before submitting to the underwriting department.
- Verifying FICO score, credit report, payment history of the mortgage loan applicant.
- Validating the asset details declared by the mortgage loan borrower.
The QC tasks in the post-closing stage include:
- Making sure that loan which is approved is saleable in the secondary market.
- Reviewing the property documents provided by the customer.
How Do We Assist You With A Virtual Assistance Services
Our mortgage virtual assistant services have helped many well-known lenders manage their day-to day operations with more efficiency and accuracy. Our virtual assistants are experts in assisting loan officers and take care of a gamut of back-end mortgage loan processing tasks.
What distinguishes us from other mortgage virtual assistance providers is that we allow our clients to pick an assistant of their choice. We then let you walk them thorough your workflows and train them on the best way to do their job. Once the training is complete, you can start delegating the task to your virtual assistant.
The virtual agents we provide are the best in the industry as they have worked in mortgage industry for a long time and are familiar with its ins and outs. This includes policies, procedures, offerings, etc. We also train them thoroughly on the various guidelines and regulations by the State and Federal authorities.
They are also well-versed working with working with various MS Office and Outlook tools, and have proven multi-tasking skills. Our mortgage virtual assistants have demonstrated excellent sales and customer-service skills.
Who We Are And What Makes Us An Expert?
This article is written by a team of professionals at Expert Mortgage Assistance. We have over 10 years of experience in providing virtual assistance services to mortgage lenders and credit unions of all sizes.
Our other services include Tittle support services, REO Services, Default Management Services, Appraisal Support Services, Accounting and Book-keeping Services, etc.
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