Outsource Mortgage Post-Closing Services

Our mortgage post-closing services is marked by tight reviews and regular audits to ensure compliance and completeness

Mortgage post-closing has assumed greater importance in the mortgage industry particularly because of record foreclosure volumes and subsequent regulations and scrutiny. The entire process, which involves post close review/ HMDA Audit, title recording confirmation; trailing, tracking and retrieving docs, data integrity audit etc should be conducted in an error-free manner and should be packaged and delivered properly. As an experienced mortgage post-closing services company, Expert Mortgage Assistance offers you error-free back office post-closing support services within reasonable turnaround times.

Our post-closing mortgage team conducts stringent reviews and audits to ensure compliance and completeness. We take receipt of signed loan documents and process them before delivering the loan files to the respective custodial service providers. We review legal, origination and HMDA documents meticulously for compliance. Our team validates compliance with underwriting and mortgage loan processing rules and retrieves missing documents, if any. Finally, we check loan data for integrity based on which we generate quality control reports highlighting controversial and doubtful issues.

We post-close over 10000+ loans for lenders and
credit unions in a month

Our clients outsource post-closing mortgage services to us for because our streamlined process help them to focus on their core process, while helping them reduce their fixed costs.

Our End-to-End Post-Closing Mortgage Services

Trailing Document Retrieval

We follow up with third parties via phone and email for retrieving trailing documents such as mortgage or trust deeds, assignments, tax records, modifications, assumption agreements, mechanic's liens, UCC records, judgments and more. Assignment, lien release and final title policy issuance are all done only after completion of this process.

Assembling the Post-Closing Mortgage Loan Package

After successful loan closure, we assemble a post-closing loan package for you by collecting all the documents submitted during the entire process. These include the Note, the Trust Deed with Riders and Final HUD1 with signatures and necessary addendums, etc. We work closely with brokers and title companies to assemble and review mortgage loan audit.

Post-Closing Data Integrity Audit

We conduct a post-closing mortgage audit to address deficiencies that may have crept in. This is a critical step of mortgage post-closing, including tasks such as verifying occupancy, addressing issues flagged by the underwriter etc.

MERS (Mortgage Electronic Registration System)

We register all approved loans with MERS (Mortgage Electronic Registration System). We register 'MERS as Original Mortgagee (MOM)'—inoculating loans against future assignments and MERS remains the mortgagee irrespective of multiple service tradings. MOM is approved by Fannie Mae, Freddie Mac, Ginnie Mae and most of the rating agencies on Wall Street.

We even register 'MERS by Assignment (Non-MOM Loans)'—assigning loans already closed in the lender's name.

We also do 'MERS iRegistration'—enabling organizations to avail cost-effective fraud and loan tracking services without recording MOM in the county land records. We prevent fraud by verifying the all property declarations and completing property preservation information.

Our Mortgage Post-Closing Process Comes with Robust Quality Control Audits

Our post-closing mortgage quality control process is elaborate and goes beyond Fannie Mae and Freddie Mac requirement to review a random 10% of each loan type of closed loans. We make sure that all the data at our disposal is verified during the post-closing stage for discrepancies, inconsistencies and possible omissions. To ensure fool proof quality check, we have an in-house quality control program for the post-closing process and which is independent of the quality control done for mortgage origination and underwriting departments.

Our post-closing quality control sample primarily takes 3 sample types into account:

  • Random
  • Targeted
  • Discretionary

These checks are conducted at multi-tier levels thereby ensuring quality post-closing audits at all times. Our Post-Closing audit can be tailored to suit specific requirements and we can also accommodate any unique information provided to us. We audit all mortgage loan files such as conforming & non-conforming loans, sub-prime, subordinate lien, reverse annuity and more.

Our post-closing quality control review takes a holistic view of:

  • The accuracy of data in documents as required by law
  • Evaluate mortgage underwriting decisions to ensure complete compliance with underwriting requirements as mandated by Freddie Mac
  • Determining all conditions of closing have been satisfied (HUD1 Settlement Statement or other closing statement
  • Meticulously monitor the overall quality of mortgage production such as income and assets; re-verification of employment, comparison of signatures, initials and dates; review of automated underwriting approval; appraisal review; audit reports etc.

We offer mortgage quality control audit services using class-leading auditing systems and processes. This service covers Pre-funding, Post-Closing, Compliance, Servicing, Cancel/ Reject, Foreclosure/ EPD Loans, Fraud Investigation & Repurchase Loans, Commercial Loan audit and QC Plan preparation. We audit all loan types such as Fannie Mae, Freddie Mac, FHLB, FHA, VA and Lender-specific. Our standard audit processes include File Document Review, Underwriting Evaluation, Third Party re-verification and Credit Risk Analysis etc.

Our experience in handling all these requirements with seamless efficiency has made us one of the most trusted mortgage post-closing company for third-party services.

Tax, Insurance & Reserve Audits

Following closure of your loan, we review all tax, insurance and reserve requirements. We check to see whether all tax obligations have been fulfilled and identify problems, if any. This includes the title insurance policy and other policy documents. Finally, we review the reserves and check for required standards.

Why Outsource Mortgage Post-Closing Services to Exeprt Mortgage Assistance

Our clients prefer to outsource mortgage post-closing process to us because we offer them a host of benefits. These include:

  • 1000+ highly trained mortgage processors working fulltime
  • 99% accuracy guaranteed in post-closing data integrity audit (Note, Trust Deed with Riders and Final HUD1)
  • Expert group to deal with regulatory requirements for post-closing compliance
  • Standardized and automated back office service for mortgage post-closing requirements
  • Up to 30% reduction in TAT, leveraging 24/7 work environment
  • Up to 40% reduction in per employee operational cost
  • Flexibility to scale work up to 50% during peak times
  • Seamless communication and highly transparent operations
  • 100% data confidentiality and privacy
  • Flexible staffing model

Post-closing mortgage services delivered by EMA are meticulously designed to address all the critical aspects of mortgage post-closing.

Looking for a third-party mortgage post-closing services company? Outsource mortgage post-closing process to us to streamline your mortgage closing and post-closing requirements.