Beware of hidden fees!

While we prefer to focus on the benefit we’ll bring to your business, hidden fees are a big deal when interviewing contract mortgage processors.

Fine print is always a killer but with contract mortgage processing the fine print can cost you big time. Many of our “standard services” will cost you extra with most other contract mortgage processors.

While their advertising always says things like … “we don’t get paid unless you do” … there are a lot of things you’d expect a great processor to do for you that they’ll charge you for thru random fees. For example we provide the following services standard and with no surprise charges:

Prepare and send disclosures.
Run AUS findings.
Coordinate manual pre-approvals with lender of your choice.
Send a final copy package to loan officer when loan is cancelled or funds.
Directly contact the borrower to collect items and keep them updated.

Third party costs can make comparing fees even more confusing

There are legitimate third party costs and these fees are getting very expensive. A verification of mortgage costs an average of $55 now, a verification of deposit costs $40 each with most major banks and a verification of employment is costing about $15 dollars today! Then there are overnight charges and things like long distance.

Most of our competitors keep track of these extra charges and then invoice the loan officer later. SURPRISE!

These third party costs can be $20-$30 on some loans or they can be $55 - $95 or more per file on average. You never know what to expect and you have the hassle of tracking and paying all these invoices.

Isn’t a contract mortgage processor supposed to simplify your business?

Why wonder if or when you’ll be hit with unexpected fees? Why waste valuable time writing a bunch of checks for verification fees, overnight fees, or services that should come standard like disclosures? With FastAction Processing you won’t have to worry about any of that. We want you to run a smooth and profitable business for one simple reason: your success means our success.

Never accept variable processing fees.

Most of our competitors also charge varying processing fees for different types of loans. A conventional AUS loan is one price, while an FHA loan, Jumbo loan, Alt A loan or Reverse mortgage can be more and different. Their fees can vary as much as $200 per loan! Yet another thing to remember and track…

We have a better way to manage the cost of contract mortgage processing:

Our Fee Structure is Simple and there are NO Hidden Fees

FastAction Processing decided at the very beginning to keep our fee structure simple. You get MORE service for the same or better price:
$27 non-refundable Submission Fee. Service includes:

Preparing and sending disclosures.

Running AUS or sending to lender of loan officer’s choice for manual pre-approval.

All verification fees paid by FastAction Processing while processing the mortgage loan application.

Misc. fees like an overnight charge or long distance associated with processing the mortgage loan application.

$497 Processing Fee on funded loans only

One simple, easy to remember fee for ALL mortgage loan types

Includes all of the processing services listed above, including our “No Loan Left Behind” email updates and our exclusive underwriter certified QC process.

Processing fee can be charged directly to the borrower on the HUD (most common) or it can be deducted from gross proceeds if loan officer wishes to reduce or waive processing fee for borrower.

** Concurrent second closing with the same lender has no extra charge. A concurrent second closing with a different lender costs an additional $100 to process.