Outsource Mortgage Pre-Processing Support Services
Our mortgage pre- processing services are designed to promote high levels of customer information accuracy while achieving faster turnaround times
Expert Mortgage Assistance specializes in providing lenders and credit unions a comprehensive pre-processing support solution. Our services are designed to eliminate process-related delays and repetition of work in the mortgage loan initiation process. We bring the right mix of mortgage expertise and technology to drive efficiency and ensure complete accuracy in processing the provided by customers.
Our end to end mortgage pre-processing services is crafted based on the lessons learnt from the recent economic recession which had an adverse effects on the mortgage and home lending industry. We combine best industry practices with our exhaustive experience to streamline your mortgage pre-processing activity. Our insightful approach to mortgage pre-processing has helped us garner widespread recognition with numerous US-based mortgage lenders and credit unions, thus helping us cement our reputation as a premium mortgage pre-processing support services company.
Our End-to-End Mortgage Pre-Processing Services
Rate Lock Management
As a premier mortgage pre-processing support services company, we offer bespoke rate lock services based on your requirements. We understand the level of attention to detail the entire rate-lock process needs and the impact that it has on your business. We take charge of the entire process, ensuring that loan seekers get a response from you in the shortest possible time. We achieve such diligent turnaround times by coordinating with the customer to get a commitment on the loan within the stipulated time period of the lock-in time period.
We scrutinize borrower details to ensure there are no past records of delinquent federal non-tax debt. We verify their profile on the CAIVRS system, as per the guidelines of the Debt Collection Improvement Act. Our debt verification and credit check methods are thorough and meticulous and instated to mitigate the risks associated with customer verification. By outsourcing Mortgage pre-processing support services to us our clients ensure there is no delay whatsoever in this long and time consuming process.
The mortgage process begins with the duly filled Fannie Mae form 1003, a loan application that borrowers need to complete and submit to the lender. We undertake a thorough and an in-depth review of the 1003 format. We meticulously scrutinize the application to make sure that all of the personal information furnished by the applicant such as name, work history, signatures, property details, loan details, employment information and income information are all accurate. We establish an effective communication channel with the customer to seek any missing information or to correct inaccurate ones.
Our team of mortgage experts compile detailed customer reports and update them on the MERS (Mortgage Electronic Registration system) to ensure that you can track the progress of your entire mortgage loan approval process. All of the mortgages approved by Fannie Mae and Freddie Mac can be tracked using the official MERS website. We keep a complete track of the customer profile to verify if the applicant has other active loans. This goes a long way to help underwriters make informed decisions during the loan approval process.
Loan Estimation Review
A loan estimate form summarizes the loan terms and all the financial information and the cash flow structures of a mortgage loan plan of a borrower. We compile and dispatch the estimate of a loan structure to the customers, after including basic information like issue date, loan term, loan type, rate lock information and so on. We verify other details of a loan estimate form like closing costs, Annual Percentage Rate and projected payment plan to give the customer an idea of the commitment that they have on their hands, should the loan be approved. We archive the loan estimate details with the file of the customer and maintain a searchable database of all customers that are interacting with your business.
Generation of Disclosures
As an experienced mortgage pre-processing support company we use state-of-the-art CRM systems to streamline your entire mortgage process and communicate seamlessly with customers. We generate all mandatory mortgage loan disclosures as dictated by the terms of the federal law, to the borrower based on the loan estimation process. We then review and send these disclosures to the borrower to complete a crucial step of the mortgage pre-processing procedure. Outsource mortgage pre-processing support services to us to take advantage of our robust technology platforms that drive efficiency in your pre-processing steps.
Why Outsource Mortgage Pre-Processing Support Services to Expert Mortgage Assistance?
We have an excellent track record of delivering consistency in performance with our pre-processing services. We bring the best of analytical thinking and diligent support to help identify areas of improvement in your mortgage process. By choosing us as your support partner you can be certain that your pre-processing steps will be handled with minute levels of details on information accuracy and delivered to you in assured turnaround times.
The following are some of the many benefits that you can unlock with our services:
- 1000+ highly trained mortgage professionals working fulltime
- Nearly 10 years of experience in handling mortgage pre-processing requirements
- Automated documentation process for time-bound service
- High quality assured through multi-tier quality check
- Expert group to handle regulatory requirements
- At least 30% reduction in TAT
- At least 40% reduction in per employee operational cost
- Flexibility to scale work up to 50% during peak times
- 100% data confidentiality and privacy
- Faster delivery, leveraging 24/7 work environment
Looking for a mortgage pre-processing support services company to transform your business model? Outsource Mortgage pre-processing support services to Expert Mortgage Assistance for a robust and all-inclusive solution.