As an established mortgage processing business, Expert Mortgage Assistance provides credit unions with fully complying outsourced services. Our mortgage processing solutions are designed to help you grow and expand in the highly competitive mortgage market while lowering expenses and generating more income.
By utilizing cutting-edge technology, the knowledge and experience of licensed mortgage professionals, and first-rate customer service, we are dedicated to assisting you in succeeding. We operate on a flexible, customer-centric business model that provides you with the freedom to select the loan application method of your choice.
Talk to our ExpertsChallenges Faced by Credit Unions in Loan Processing
Inefficiencies caused by a lack of human resources are one of the biggest problems credit unions and community banks encounter. Additionally, the tedious mortgage process is exacerbated by the absence of a centralized data system and laboriously complicated spreadsheets.
The two best ways for lenders to organize their disorganized operations are to automate loan functions or outsource mortgage processes to a dependable vendor.
Here are the common obstacles faced by credit unions in their loan administration
Lack of Data Management
Like many other financial institutions, credit unions struggle to manage their data, which is dispersed across a system of disorderly spreadsheets. Managing multiple tabs for follow ups is difficult. Files mentioned in spreadsheets are tangible files. While an internal expert is familiar with the system, it could be challenging for other reviewers to locate the crucial files when needed. Credit unions are unable to grow their operations or devote their resources to more responsible projects as a result of this additional stage in the mortgage application process.
Lack of Team
When a credit union conducts the mortgage process independently, they either enlist the assistance of loan officers to administer the loan or employ more staff on-site to handle the increased workload. Both times, the employees at credit unions must take time away from their primary responsibilities, such as community outreach, acquiring new clients, and working with businesses, to coordinate the loan needs with individuals seeking assistance.
Outsourcing the mortgage process is a solution that can eliminate the flaws in the system and keep loan expenses under control by doing away with the requirement for a second team. We provide you with the comprehensive benefits of outsourcing your back-office tasks as an expert mortgage processing partner.
Outsource Mortgage Process for Gaining Efficiency and Speed
Credit unions can control their expanding workload and concentrate on their expansion ambitions by working with mortgage processing services. In turn, we offer end-to-end services for all mortgage requirements with specialized underwriting, loan processing, and closing teams.
Here are some reasons why you should plan to outsource
mortgage process to a service provider:
Our QA specialists are well-versed in loan products and crucial papers that complete the loan package.
Here are some of the points we touch-based on as part of our quality guarantee assurance -
Review loans with Hawkeye precision to ensure that all documents are accurate and comply with regulatory requirements
Stay abreast with latest regulatory requirements and share new changes with appropriate co-workers
Review loans for data correctness and consistency with compliance guidelines
Modify the quality control review program no sooner than new rules are introduced
Keep a track of outstanding titles and follow-ups to ensure its receipt within the specified timeline
Submitting an exhaustive report of review findings to top management
Carefully upload all loan files into document storage system in a timely manner
At Expert Mortgage Assistance, we leave nothing to chance. We guarantee top-notch work quality from loan origination to closing.
Coordinate with credit union’s in-house staff in accordance with their service standards
Why Outsource Mortgage Loan Processing to Expert Mortgage Assistance?
When you outsource mortgage process to us, we provide the following benefits and more:
Access to 1000+ highly trained mortgage underwriters and processors working fulltime
99% accuracy in reviewing all information in the loan file (credit report, VOE, VOD, property appraisal etc.)
Expert group to deal with regulatory requirements
Standardized and automated back office support for mortgage processing
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
Particularly when it comes to mortgage processing firms for credit unions, Expert Mortgage Assistance is a brand
to be regarded. Credit unions can operate to their total capacity thanks to our superior service standards and due diligence.
Are you trying to find a trustworthy third-party mortgage loan processing service? Make your process more sustainable and profitable by outsourcing mortgage loan processing services to Expert Mortgage Assistance.
What Sets Our Mortgage Processing Services Companies Apart?
Leverage our trusted Mortgage Underwriting services to reduce turnaround time, lower overhead, and boost borrower satisfaction.
