Glitches pertaining to mortgage post-closures, lack of oversight and follow-up continue to be some of the resurgent issues that bar a fuss-free future sale of a property. The previous and the looming real estate crisis have exposed the inadequate practices conducted in the mortgage closure process. This led the governing authorities to tighten the regulatory leash around this sector which…
mortgage closing services
What is Mortgage Closing? Mortgage closing as a process is often labeled as ‘complex.’ It requires lenders to submit multiple mortgage closing documents like transaction details with an itemization of closing costs and fees. It is a necessary process that needs to be executed within a stipulated deadline with extreme precision. The revamped mortgage closing process is comparatively stringent, and…
In recent years, mortgage post-closing has taken on greater importance in the mortgage industry due to the record number of foreclosures that have occurred. The subsequent regulations focused on post-closing processes being inadequate and needing to maintain higher compliance and quality standards. As a result, more and more lenders have found themselves outsourcing their mortgage post-closing requirements to offshore vendors…