Mortgage Processing Services USA
Star Webs Solution has expertise in providing Mortgage processing services for companies in the United States and Canada. Our experienced staff of reviewers and data entry personnel can help you streamline your mortgage processing task by providing round-the-clock service. We can help you right from the loan origination to mortgage closing and post-closing audit services. Our mortgage processing experts ensure that the collection, organization, and evaluation of required documents is done before the loan is submitted for underwriting.
The Loan origination process is broken down into 3 stages as follows
- Pre- Qualifying
- Gathering of Initial Documents
- Sending of Initial Disclosures
If the borrower agrees upon the initial estimate and preliminary title report, the mortgage loan application is sent for processing.
Once the borrower has completely agreed with the initial loan estimate, we perform stacking and indexing of all electronic loan documents. We order a thorough third-party verification of crucial documents such as the Appraisal reports, Title Report, 4506T, HOI, HOA, VOE, etc. We validate and update loan-level data in the loan origination system (LOS). All loan files are reviewed to determine the missing documents and data. This review process is important and carried out prior to the underwriting stage. In the loan processing stage, we obtain, update and review automated underwriting findings and feedback reports.
- Indexing & Stacking
- Third Party Document Verification
- Data Entry in LOS
Pre- Underwriting Support
Our experienced team of Underwriters evaluates the risk involved, submit the loan files to underwriting and gather required documents to clear the loan conditions. We make proper arrangement for a loan closing. We validate the data used by the automated underwriting system to make a credit decision. For validation of documents, we check the 5 C ’s namely the Capacity( Income capacity of the borrower), Credit Score, Collateral( Value of the property) , Capital (no. of assets), and Compliance. A comprehensive review of the appraisal report and all supporting property documents is performed at this stage. After evaluating the applications, supporting credit, income and asset documentation, we run AUS (Automated Underwriting System) to check to eligibility.
Steps in loan processing
- Loan Submission
- Income/Asset Verification
- Run AUS LP/DU