Outsource Contract Loan Processing

Outsource Mortgage Processing Versus In-House Mortgage Processors? The cost of maintaining an in-house contract loan processing staff adds up. Eliminate the cost of employee benefits, paid vacation days, sick leaves, workman's comp., etc. Pay no ongoing recruiting expenses and experience no downtime for loan processor training. 

Typical Turn Around Time For Processing a Loan? 24-48 hours from the time we receive all of the up-front docs from the broker (i.e. complete 1003, signed disclosures, borrower's credit report, TIL, GFE). From here, we strive for a 10-day turn around time to close -- barring any delays due to third party vendors such as appraisers and/or title companies. getting started >>

Outsource Mortgage Loan Processing - Questions.

Are There Any Monthly Minimums? No. There are no monthly volume minimums. From single mortgage broker clients with 5 or less loans processed a month, to large lending institutions processing in the hundreds, we can accommodate your needs. We simply match you with the right loan processor and assign additional loan processors as your company grows and you bring on additional loan officers. 

Can I Use My Own Vendors, Such As Appraisers or Title Companies? Yes. Feel free to use your own appraiser or title/escrow company, or one of ours - the choice is yours. For example, if you're originating a loan in a new state or county you are unfamiliar with, allow our contract loan processors to find and manage one for you. Most importantly, our contract loan processors will make the necessary follow up to ensure all timelines and important deadlines are met. 

Are There Any Cancellation Fees? No. We do not charge cancellation fees. Our philosophy is that our clients and mortgage processors must work as a partnershp. Simply put, if the loan does not close, no one gets paid! 

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How Do You Get Paid? Our loan processing fee is paid at the time of the closing off the settlement statement, as a third-party additional line item fee. The borrower will know the processing fee is paid to a third party which is a plus when dealing with fee conscious clients. 

Who Pays For Overnight Charges To The Lender? The overnight charge to the lender is absorbed by our clients. We are given an overnight courier account # up front, and will only use it for overnighting the loan to your designated lender. REMEMBER, the broker can charge a courier fee on the settlement statement. 

What Happens If I Am Not Happy With Your Processor? One of the many benefits of hiring a contract loan processing company is that we monitor each of our processors' performance and check frequently with our clients for feedback. As such, we always have the ability to re-assign you with another loan processor.