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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
Processing Services:
We offer two services:
- ProcessM – Personal Processing Assistant
- ProcessM – Full File Processing
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Personal Processing Assistant – PPA
PPA is an easy way to offload only the most tedious and time consuming aspects of loan processing. Get an assistant without fixed overheads and reduce your mortgage processing costs by 50% while maintaining control of this key process. We will get the process rolling for just $85 and it's FREE if it takes longer than 3 Business Days*.
*This does not include the time taken by appraisal and Title company to complete the request.
Once we receive the required documents, our processor will:
- Review all documents for completeness and accuracy
- Review application for accuracy
- Send additional required documents list and list of docs to be corrected
- Order for all required documents and complete all verifications
- Review all the documents received and have changes/corrections done if applicable
- Prepare submission package with all received documents
- Email / fax the package to you
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How ProcessM™ works
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| Personal Processing Assistant |
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Client |
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Services-On-Tap™ |
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Services-On-Tap™ Delivers |
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- Processing submission form
- Completed 1003 Application
- Copy of Good Faith estimate
- Borrower's credit report
- All signed Disclosures
- Signed Borrowers authorization
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- Receive 1003 for processing
- Application integrity check
- Review AUS findings
- Send additional items required checklist
- Order appraisal
- Order title
- Order flood cert
- Order verifications – VOE, VOD, VOR, VOM, VOL
- Review signed disclosures
- Review 3rd party documents-appraisal, title
- Order Hazard and flood insurance if needed
- Order payoff and subordination if needed
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- Verified Disclosures
- Verified 1003
- Completed Verifications
- Reviewed Appraisal and Title
- Updated Hazard insurance
- Payoff Statements
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Full File Processing
Full file processing is end-to end mortgage loan processing. Send us the initial loan package – .FNM file, signed 1003 application, GFE & TIL, Credit Report, Borrower's Authorization, prequal/Rate lock sheet and completed Services-On-Tap submission form to start processing. The files are assigned to the processor right away so the files are active as soon as we receive them. We typically complete all verifications and orders within 48 Hrs and we have the package ready for submission by the third business day. Since we work as per timelines, we are able to turn the files for submission faster and get the loan closed faster.
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| Full File Loan Processing |
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Client |
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Services-On-Tap™ |
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Services-On-Tap™ Delivers |
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- Processing Submission form
- Completed 1003 application
- GFE and TIL
- Credit Report
- All signed Disclosures
- Supporting documents
- Signed borrower Authorization
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- Receive 1003 for processing
- Application integrity check
- Review AUS findings
- Review signed disclosures
- Review supporting documents
- Send additional items required checklist
- Order appraisal, title and payoffs
- Order subordination agreement if applicable
- Order flood cert
- Order Verifications – VOE, VOD, VOM, VOR, VOL
- Follow-up & receipt of orders & verifications
- Submission to lender and follow-up on conditions
- Receipt of conditions and clear lender conditions
- Complete broker fee sheet and get approval from broker
- Schedule closing with all parties
- Follow-up on closing and payments
- Send post closing package
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- Post Closing package
- Final 1003
- Final GFE & TIL
- HUD1 Signed
- BFS
- Verified Disclosures
- Appraisal
- Title
- Verifications
- Payoffs
- Subordination agreement
- Updated insurance
- Copy of payment check etc
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