WELCOME TO OUR TEAM!

Getting Started

The tips on this page will walk you thru the things you need to know to get off to a smooth fast start and help you get the most out of our services.

Please review this page thoroughly and direct any questions to your Team Lead.

Contact Us Your primary contact is always your Team Lead. In addition you may use the following:
Phone:	(866) 549-8188
Fax:	(888) 406-5189
Email:	files@fastactionprocessing.com
Hours:	Mon – Fri
Eastern Team	9 am – 6 pm
Central Team	8 pm – 5 pm
Mountain Team	9 pm – 6 pm
Pacific Team	8 pm – 5 pm

Get Trained

There are two tools available to you.

Training Zone
Located on the webpage right after you login are links that will walk you thru how to submit loans into processing, change loans in process, have us order your closing documents and more. Review each section right away, but also go back and review a section when you are about to handle that specific topic so your experience will go smoothly. After your first couple loans you’ll be a Pro!

Webinar
Prefer a more personal or interactive training? We have regular live Webinars you can attend. Email training@fastactionprocessing.com for a current schedule.

Get the Best Service Possible

One of the most important sections of every training page is “Watch Out For”. This section is GOLD. Avoid these issues and your processing turn times and results from us will be a lot better!

Encourage your Team Lead to help you navigate good vs. bad lenders, appraisers and other service providers. A lot of our delays and problems are directly related to the lenders and other vendors. We see a lot of loans and are in a unique position to warn you of a dud or let you know who is doing a great job. Be sure to ask!

Password Protected Document Policy

We always send all PDF and fnm 3.2 data files password protected. We ask that you also only email password protected documents AND that you use our same password when sending to FastAction Processing. This keeps things safe but also simple.

Current Document Password (case sensitive): Faprocks08!

Updates and Communication

Our updates are sent mostly thru email. If there is a critical issue we of course pick up the phone and call you.

Update Reports
There are three reports that we print and attach to most email updates we send you. They are printed together in a single PDF. You’ll want to save these in a separate email folder for each borrower or on your computer. Here is a description in the order you see them in:

Processing Disposition
Similar to an underwriting disposition. It lists EVERYTHING currently outstanding on the file from the time you submit it to us until it funds with the lender. This is the most important document we email and we recommend you review it every time a new one is sent.

Document Tracking
Shows outstanding items like borrower signature items, appraisals and other 3rd party orders. It includes the date we ordered and the date we expect them to be returned. If we don’t receive the item by the due date we automatically follow up. If you have not heard from us for a couple days, don’t worry. Review your most recent Document Tracking for that loan to see what’s due. If nothing was due, there was nothing to update and your file is in good shape. If you see on your most recent Document Tracking that items have been due AND you haven’t heard from us – please call your Team Lead for an update.

Notes
Once you’ve read the Processing Disposition and the Document Tracking, you’ll want to read the Notes. This is where most of your questions about order status, issues we are resolving and day to day details of the loan will be found. Notes are listed oldest to newest when printed and sent to you so go to the end for the most recent notes and read backwards.

Here are the times you will hear from us during the loan process. If you do not hear from us at these times please feel free to contact your Team Lead because there may have been a problem with transmission.

When you send us something.
Within 2 business hours of receiving a new loan, loan change request or doc order we will notify you that the item was received and we are working on it. If you do not hear from us within 2.5 hours of sending something in please call your Team Lead to make sure everything is ok.
When we receive something.
As vendors return title, verifications and other orders we will notify you via email that it has been received. Attached to that email will be the most recent printout of your Update Reports to review and save.
When we send your borrower something.
You are cc’d on every communication with the borrower. In addition, you should be sent your own copies of the disclosures and good faith issued to the borrower on your behalf. This allows you to have copies on hand should they call with questions. Review them right away and if there is an issue contact your Team Lead.
When we order something or submit items to your lender.
Appraisals, title, verifications, files into underwriting, conditions, doc order requests – we’ll let you know throughout the process via email what’s being done.
When we follow up on something.
If something like an appraisal is due we will follow up and let you know (usually by email) that we are on top of it. We also forward any reply we get from the vendor or lender.

A Handful of Things We Won’t Do

Lock Loans
Locks are the bank account. We never take on something we can’t guarantee and there is too much liability for us to guarantee a lock. Miscommunication with an Account Executive or missed add-on and the lock is toast – we’ve all been there. It is up to the loan officer to lock the loan on the correct program, terms and lock period.

TIP: Always fax or email your Team Lead your lock confirmation immediately. They will compare the terms against the underwriting disposition to help avoid last minute approval or closing delays if something doesn't match (which happens often enough to be something we warn about).

Structure the Loan or Locate the Right Product or Lender
When a file comes into Processing it MUST have the exact program and lender already determined. Every program and every lender is different so without this information we can’t process a file well.

As an optional service you can purchase our Loan Placement Services and we can help you structure a loan and get it placed on the right program and with the right lender. This service happens right after application and BEFORE it is submitted into Processing. For more information see “Help Finding Product Or Lender”.

Our Guarantee

We guarantee that you will be 100% satisfied with our responsiveness and the quality of our work. If you are not, we will pay you 110% of any fees we’ve collected on the file – including the borrower’s processing fee.

What we can't guarantee.
Unfortunately we can not accept responsibility for complications caused from a loan officer submitting incomplete, inaccurate files or because our procedures were not followed. If any of these things do happen, you should expect delays and complications that could include the loan not funding and we do not issue refunds in these situations.

We also can not accept responsibility for lender or vendor responsiveness and quality. This includes lenders giving out misinformation, programs changing or being discontinued, late orders, slow turn times, unreturned calls or emails and other items that unfortunately happen in our business. We will of course stay on top these issues, resolve things as they come up to the best of our ability and keep you updated along the way.

Fraud

Integrity is one of our most important corporate values. We will not knowingly work with a file that contains fraud. If something in a file comes out to be possibly different than what the application states – then that item needs to be addressed and the file updated. We reserve the right to cancel and release a file back to the loan officer in these instances.