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Get rid of your Processing Headaches by benefiting from our fastest, most effective contract loan processing services
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| Why Services-On-Tap™ |
- Simple to get started
- Complete visibility & control
- Lower overheads, increased profits
- Shorten closing cycles & get paid sooner
- Around-the-clock processing
- No minimum volumes
- Fast & Scalable
- No long term contracts
- Paperless processing open communication channel
- Reduce fraud potential
- Fits with how you work now
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| DOCUMENTATION |
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ProcessM™ - Mortgage Processing Service
Our Loan Process
Receipt of File
- Send us .FNM file
- Email or Fax the supporting documents along with the SOT submission
- SOT processor will send you Welcome email/confirmation of receipt once we received the package
- SOT processor will provide you with all required contact information.
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File opening / Initial processing
- Review 1003 signed and .FNM file
- Prepare Final 1003
- Review all signed Disclosures
- Review all supporting documents
- Send additional required docs list
- Order Appraisal, Title, Payoffs and Subordination agreement (if applicable)
- Order Verifications – VOE, VOR, VOM, VOD
Submission
- Initiate contact with lender
- Complete submission forms and submit the file for underwriting
- Follow-up on underwriting and obtain conditions
- Clear lender conditions
Clear to Close
- Obtain CTC from lender
- Complete Broker fee sheet
- Fax the same to you for approval
- Send approved BFS to lender
Closing and Post Closing
- Schedule closing with all parties
- Review HUD1 draft for numbers
- Make required corrections / changes to HUD1
- Ensure closer has all instructions from the lender
- Ensure file is closed and funded
- Ensure all parties are paid
- Prepare Post closing package
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