Bank Reconciliation
Loan processing is perhaps the most tiresome and vital part of
a mortgage loan application. Most loans fall-out at this stage
if not handled properly. Abacus can help you attend to each of
your loan with utmost care and precision within the acceptable
turn-around time.
Outsourcing your Mortgage Loan processing to us can help
you with:
- Employ a smarter strategy not a harder one
- Increase the number of loans closed
- Shorten the closing cycle and get paid sooner
- Avoid advertising, hiring and training Mortgage Loan Processing
staff
- Utilize less office space
- Rely on a specialist who has in-depth knowledge in Mortgage
Loan Processing
- Increase borrower satisfaction
Outsourcing Mortgage Loan Processing to Flat world will eliminate
the paperwork headaches and streamline the business process to
generate time and cost savings for a lending institution like yours.
Service may be tailor-fitted to suit your processing needs.
- Customer Inquiry Support
we will address the inquiries and concern of the borrowers
and the loan officers throughout the processing stage.
- Application Completion
Once we receive the application package from you, we will ensure
that it is complete and with accurate information. We will
request for and gather all missing information from the applicable
source (e.g. Borrowers, Title Company etc.)
- Vendor Management (Title, Appraisal companies
and Credit companies)
We will coordinate with 3rd party companies and vendors in
order to complete the documentations needed for the loan to
be underwritten. We will perform the follow-ups as necessary
to ensure that the documents are received in a timely manner.
We will also deal with the vendors in resolving any specific
issues with regard to their documentations. These can be your
own preferred vendors or our we can provide you with one.
- Document Verification
We will perform the necessary verifications to ensure the veracity
and accuracy of the information from the gathered documents.
This is of utmost importance as this is normally where a
loan application falters due to misrepresentations and fraud.
- Loan Submission
If applicable, we will complete the submission package and
submit it to your lender of choice.
- Underwriting Support
In processing the file, we will perform the function of a junior
underwriter, reviewing the file based on the underwriting
guidelines of your preferred lender. This can speed up the
underwriting process and reduce fall outs as we will be able
to raise red flags or inform you of any possible deficiencies
that the file has. By doing so, we can also suggest an alternative
program or lender.
Once the file has been submitted for lender underwriting, we
will closely monitor the status in underwriting and keep you
and the borrower informed of any additional requirements until
the file has been cleared for docs.
- Closing Support
We will coordinate with the lender's closing department and
the funders to ensure that all deficiencies are met for the
loan to fund on time. We will prepare the HUD and other closing
requirements for your review, before sending it to the lender
or escrow.
