Processing Service Questions
 Do I work with the same processor each time?
Each loan officer is assigned their own Team Lead that they will contact and use on all their loans. The Team Leads are backed up by others so that loans flow smoother and faster than a single processor approach.
What is your turn around time?
We process new files and QC documentation within 8 business hours of receipt and often faster. The only thing we can’t control is the turn time of third party vendors or lenders. BUT rest assured that we aggressively follow up on your file and keep you updated until it closes. We push hard to close loans as quickly as possible since we get paid when you do – at funding!
How do I get loans to you?
Most of our customers use our secure fax or email. You can use a courier if you prefer but it will slow you down.
What items do I need to send to get a loan into processing?
We only need a completed 1003, fnm 3.2 file, initial disclosures signed, credit report, and complete submission form. We’ll do the rest including running the AUS of your choice or even sending for manual approval if needed and gathering additional borrower items if needed.
Who sends and is responsible for disclosures?
The originator is ultimately responsible for the disclosures going out on time to the borrowers.
Can I use my own title companies or other vendors?
Absolutely! We usually place the order and of course we handle all the follow up and tracking but you are still in charge. If you are doing a loan in a new area we can locate good vendors for you, at your request.
Will you contact my borrower?
Of course! This is one area where we are different. Once you pass us the loan we do the rest including contacting the borrower for signatures and documentation. We always interact with borrowers as your “assistant” so you look your best. The only thing we won’t do is sell the borrower, discuss rate, closing costs, closing deadlines or deliver decline/suspense news. We leave those topics to you.
How do I stay updated on my loans?
Anytime documentation is received or there is a status change we email you a update.
How does your exclusive Quality Control process help me grow my business or make more money?
You’ll fund more loans, have happier clients and almost more important less unhappy clients. Poorly processed files make a bad impression that is hard to recover from, which is why a loan that starts out bad ends up being conditioned to death and never funding. More importantly an underwriter does more favors and exceptions for loan officers that send in high quality processing because they trust them more.
We’ve also all experienced the longer a file drags on and never closes the uglier the borrowers (and Realtors) attitude towards the loan officer gets. The angrier someone is the more people they tell. Good processing catches un-resolvable issues faster. This saves your reputation as well as valuable time.
Which lenders do you work with?
We can work with any lender you request. If we are working with a new lender our Team Leads will make contact and work with the lender to insure the loans are submitted and processed exactly as they need them to be.
What happens with my final package?
We deliver a complete final package on all funded and cancelled loans for your records electronically. The file is password protected and delivered via email.
What things won’t you do for me?
An originator is always responsible for selling the borrower, taking a complete application and locking their loans. Locating a loan program and lender for the loan is also the originators responsibility.
How do I get started?
Fill out the online Sign Up Request form. We’ll walk you through our exact processes, complete the services agreement with you and get you ready to submit your first loan. It’s simple and it’s fast! |
