What Services Can You Expect From a Mortgage Processing Company?

For many mortgage brokers and loan officers, it can be overwhelming processing numerous clients' loans. Because time is money and efficiency is the key, many brokers are turning to mortgage processing companies to increase business and keep overhead costs to a minimum. Processing loans is often one of the bigger overhead categories a broker can have to deal with. Between labor costs, equipment costs and insurance, outsourcing often makes more sense.

There are many services that the outsourced mortgage processing company can do for you and your clients will still think that you and your organization did all the work. Most companies will tailor their services to meet your company's specific needs.

You can count on them for a quick submission of your loan to the underwriters, sometimes as fast as 48 hours after receiving the completed loan package. If further information is needed, they'll work with you to ensure that its received as quickly as possible.

The loan will be submitted through the appropriate underwriter. Some mortgage processing companies can put together a "welcome package to your borrower in your name that includes:

A personalized letter of introduction.

A typed 1033 form ready for signature.

A request for outstanding conditions.

Any other required forms and/or disclosures that are missing from the original loan submission.

The best part about all of these documents and correspondences is that they all have your company's name.

The mortgage processing company will also order appraisals on your behalf from one of your preferred vendors. They will order a title on your behalf, payoff letter(s) and other items specific to the file.

All the legwork is done by the mortgage processing company allowing you to secure more business and providing your clients with the best possible mortgage product. Doesn't it make sense to stop juggling all of your clients' needs and seek the services of an experienced mortgage processing company?

Written by Regina Rivard, Copyright 2008, All rights reserved.

To find out more about outsourcing your mortgage processing come visit United Settlement Service Affiliates, Inc at http://ussa1.com today.

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