A mortgage processing company should review loan documents to pick out any potential red flags. However, how to start a mortgage loan processing company happens before the application package is sent to the underwriter. A good mortgage processing company should review everything from an underwriter’s perspective to help expedite the process from start to finish.
To Team Members
Being a specialized provider of FHA loan services, we are well versed with the regulatory guidelines and best practices of the trade. Our services not only enable you to focus on your core business but also expedite your underwriting process. In a highly competitive mortgage landscape, reduced turnaround times can keep your mortgage business a step ahead of your competitors.
Mortgage Loan Quality and Retention Services
We assist lenders in collecting supporting documents such as bank statements, mortgage statements, pension statements, escrow documents, divorce decrees and child support documents, etc. We also order homeowner’s insurance and the flood certificate for the property. After collecting all the documents, we file them in an orderly way for easy access and archival.
SunTec India is well equipped with resources and technology to handle all aspects of mortgage data entry. Our seasoned mortgage data experts enhance your operational efficiency by entering data in your prescribed formats and processing it as per your individual requirements. Processing a mortgage loan is a cumbersome process in which a number of third party documents are involved.
These systems can be expensive and time consuming to be installed locally. Therefore, outsourcing helps you to avoid such complications as the service provider will be equipped with the required infrastructure to carry out the processes. As an MLO, you want to dedicate your time to counseling your client on the best loan options available for their financial situation and to reach their goals.
You can easily decrease the loan processing time by employing more resources. But more employees means greater spending on talent acquisition and infrastructure. Thus, hiring the services of a reputed third party mortgage loan processing company is the smart way out of this catch twenty-two situation. We as one of the leading mortgage loan processing companies save your time and resources by taking care of the complete document compliance process. Our dedicated team of mortgage loan processors is well versed with all the statutory protocols.
We used our automated MSuite software to help them significantly reduce their loan processing time. Our document review experts are adroit at analyzing documents such as Appraisal, Title, HOI, Tax Transcripts, etc. These resources work exclusively for one client at a time and after completion of the review compile a detailed report indicating incompatible information, contradictory data, and invalid data. With such a comprehensive report at your disposal, you can easily identify consistencies in information and stay compliant with statutory regulations.