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Outsource Mortgage Closing Support for Credit Unions

Outsource Mortgage Closing Support for Credit Unions

Our mortgage closing services for credit unions is comprehensive and comes with tight quality audits to ensure compliance-friendly solutions

Expert Mortgage Assistance has wide experience in closing mortgage loans for credit unions in an efficient, error-free and compliant way. Our closing process for credit unions includes ordering title reviews, preparing closing statements, liaising with agents, revising the terms, etc.

Throughout the mortgage loan closing process, credit unions need to ensure absolute accuracy of the mortgage closing documents and deliver it within three days of signing. The disclosure documents must detail the breakdown of fees and closing costs incurred. According to new rules, failing to comply with these standards will result in steep penalties, putting great pressure on credit unions to follow a careful approach in completing these tasks.

The assessment of documentation quality control and maintaining the integrity of data during loan closing process can be a huge responsibility for credit unions. This is why many of them choose to outsource their requirements to mortgage closing support services company and this is where we make a big difference to your business.

We understand that the credit union business model is built on community trust. This is the reason our mortgage closing support process takes safety and quality more seriously. As a mortgage closing support services company, we cover all phases of the process from title reviews to document preparation etc.

Our End-to-End Mortgage Pre-Closing Services for Credit Unions

When you outsource mortgage closing support services to us, we begin the mortgage closing process steps immediately so that the transaction can conclude without delay. We check for home inspection approval, finances required for closing and ensure that the purchase offer has been accepted.

The next steps in our loan closing process include:

  • Insurance

    As your mortgage closing assistance partner, we understand that credit unions need to stay agile to compete with larger financial institutions. This is why we take administrative tasks, such as documentation and disclosure, off their hands. Another important thing that we handle for our clients is the homeowners insurance. We not only collect the insurance documents, but also the home inspection report for seamless closing.

  • Arranging Closing Costs & Down Payment from Financial Institution

    Credit unions no longer have to worry about adjusting their staff requirements as per rising and falling volume that the market creates. When you outsource mortgage closing support to us, we give you access to trained pool of resources that coordinate with the bank to gather all the details and closing costs on your behalf.

  • Payoff Statement Evaluation

    Our trained employees have the experience in reviewing payoff statement for details like balance due, loan amount, interest rate etc. We are also equipped to handle borrower questions regarding payoff statement and answer their questions too.

  • HUD

    HUD Settlement Statement is one of the most important mortgage closing documents that requires lender and borrower attorney’s approval. We can put all the information together in necessary format, thereby maintaining the compliance requirements.

Our End-to-End Mortgage Closing Services for Credit Unions

As one of the leading mortgage closing services, our job is to simplify the mortgage closing process steps for credit unions and make it more cost effective as well as compliant. At Expert Mortgage Assistance, the closing process includes following steps:

  • Document Collection

    We gather all the mortgage closing documents on behalf of credit unions and prepare them for delivery to the title company. We also undertake requests from title companies for further documentation and changes, if required. Other closing docs such as flood certificate, homeowner insurance, appraisal report etc. is also collected by our experts for our clients.

  • Title Review

    Our backend staff makes comprehensive assessment of liens, taxes, legal rights of the property, and lawsuits, to ensure that that the mortgage closing process can be concluded seamlessly.

  • Preparing Closing Instructions Statement

    Following title review, the loan application is reviewed for one last for inconsistencies. We prepare the closing instructions statement and send it to the funding department along with the Bank Note, E&O Insurance and Wiring Instructions, etc.

  • Tax Evaluation & Fees

    When you outsource mortgage closing support requirement to us, we work with the settlement companies on your behalf in evaluation of taxes and fees. EMA experts can also pass on credit union instructions to the agent for final disbursement of mortgage funds at the time of closing.

  • Preparation of Closing Documents

    We provide specialized assistance to credit unions for delivery of closing documents within the 3-days as mandated by federal law. These documents include closing disclosure, loan estimate, escrow statement etc.

Our Mortgage Closing Process is Known for Quality

We are a preferred mortgage closing support services company because we have the experience and a tight loan closing process that follows rigorous quality control process. Our goal is to monitor your origination policies closely and ensure that all the data has been collected and processed accurately. This way we are able to eliminate delays in closing caused due to incorrect or insufficient documentation.

Additionally, we also ensure that our quality control undertaking has been documented in writing and is thoroughly reviewed by our expert staff regularly. When you outsource mortgage closing support requirements to us, you can rest assured that the services you get from us will be in time and 100% compliant.

Why Credit Unions Should Outsource Mortgage Closing Support to GetSmartCoders

When you outsource mortgage closing assistance to us, we provide you with the following benefits:

We understand that one of the leading challenges faced by credit unions is the volatile nature of the volumes that the market creates. As a result, they have to deal with complications caused due to unsteady workload, not just in terms of compliance but also staffing. Sometimes when the loan volumes decline, the cost of closing loans and maintaining compliance with same staff can be staggeringly high. This is why it makes strategic sense to hire EMA as your mortgage closing support services company to ensure that the closing process can adjust to the evolving mortgage environment.

  • Flexible hiring model with access to 200+ fulltime experts
  • 100% accuracy in closing disclosure preparation
  • 30% reduction in TAT
  • 40% reduction in cost of operation
  • Up to 80% scalability during peak times
  • 99% accuracy in mortgage closing documents reviews

Looking for a reliable offshore mortgage closing support services company? outsource mortgage closing support to Expert Mortgage Assistance to make your process more accurate and time-bound.

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Common Loan Closing Types

  • Mortgage Closings
  • Refinance Closings
  • Commercial Loan Closings
  • Reverse Mortgage Closings
  • Home Equity Loan Closings
  • FHA Loan Closings
  • Loan Modifications

Loan Closing Features

  • Comprehensive review of closed files
  • Aggressive pre-close review
  • Confirmed Closings within 24 hours
  • HUD settlement statements done within 3 hours
  • Same day closings entertained

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