More reasons for Outsourcing Loan Processing
› Rely on a specialist with an in-depth knowledge of mortgage loan processing
› Employ a "work smarter, not harder" strategy
› Shorten closing cycles and get paid sooner
› Increase the number of loans closed
› Avoid advertising, hiring and training mortgage processing staff
› Decrease office space
› Increase borrower satisfaction
› Keep current with HMDA reporting requirements
› Utilize a company designed around the workflow of processing
Devon Processing & Notary service Will :
› Order appraisal and title
› Order payoff and subordination agreement (if necessary)
› Verify disclosures are accurate and complete
› Review credit report, bank statements, pay stubs & W-2's
› Submit loan package to lender
› Clear lender conditions
› Contact hazard insurance company for new mortgagee clause
› Prepare fee sheet for review by broker, then submit to lender
› Coordinate closing schedule
› Follow up to confirm closing was successful
› Assemble a Post Closing loan package and deliver to broker
› Keep the broker informed throughout the loan process
