Solutions > Mortgage Processing

Business Models

Dedicated Operating Team

   Have you ever felt that your work is denying you the time to go on that much needed vacation? Why keep yourself within the four corners of your office when the world can be your workplace? Fully utilizing the latest technologies to enhance your productivity and cost-efficiency at the same time, this model will allow you to manage your own employees and oversee day-to-day operations in your "virtual workplace". Everyone in your team is easily accesible through phone, email, chat, fax, and video call anytime, anywhere, in real-time. You can have as many employees as you need without having to worry about HR, workplace, or facilities issues that commonly derail expansion programs.

Mortgage Processing Outsourcing

    Do you find yourself at that crucial stage where you need to cut cost and expand your capabilities at the same time? Do you experience a bottleneck at some parts of your organization or work flow? Why worry about implementations and operations when you should focus on your goals and targets? With Processing Outsourcing, all you need is to define your goals and targets and we'll work with you in achieving those. You can let us handle just a part of your process or you can also let us assist you in your entire process, whichever will lead to you achieving your goals.

    

Basic Services Offered:




Loan Origination / Pre-qualification Support

•    We can request for a credit report from your preferred credit report agency, research property profile, analyze the loan profile, gather information from and  find a suitable program for your  borrower based on your broker's pool of lenders. We will maintain contact with you, the broker, and borrower throughout the entire process.

•    You will be able to focus more on your marketing drive and free yourselves from the burden of paper pushing. A solid back office support would also add value to your own marketing profile, enabling you to attend to multiple clients at the same time without sacrificing turnaround time.

            
►  Loan Application Analysis
►  Program and Rate Quotations (*subject to broker's preferred lender)
►  Credit Report Requests (* needs partnership with a credit                            bureau/company or use client's account)
►  Property Profile Requests (*needs partnership w/ a title company and an              appraiser or use client's pool)
►  Property Valuation (Appraisal) Request
►  Preparation of Initial Application Documents (e.g. 1003, Authorization, etc)

Mortgage Loan Processing / Underwriting Back-Office


•    Service may be tailor-fitted to suit  your processing needs.

•   Loan Processing is perhaps the most tedious and crucial part of a mortgage loan application. Most loans fall-out at this stage if not handled properly. We can help you attend to each of your loan with utmost care and do it within industry acceptable turnaround time.

      ► 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 the 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.



Due Diligence Audits

    As an added value service, this will ensure that the risk associated in mortgage processing is managed properly and attended to in a timely fashion. You will know which files will raise a red flag even before it reaches your lender's underwriter.

•    With a full time 3rd party auditor, you can be assured that the file will be properly reviewed and verified.

►  Quality Control / Compliance Checks (subject to lender's/client's                checklist)
►  Verification of Employment and income
►  Verification of Assets
►  Verification of Identity and Property
►  Review of closing documents (subject to lender's/client's checklist             and government regulations)



Document and Pipeline Management

•    An added value service that will organize and enhance your day-to-day operations.

•    We will manage your volumes of documents and files. With an ISO 9001:2000 certification, you are assured of a secured storage to meet government standards and regulations, aside from adding to your own maketing drive. It would also facilitate retrieval, review and research of files from anywhere in the world that is connected online

•    We will manage and review your pipeline, to ensure that the client meets their targets and goals and that all your files are secure.

►  Document imaging, safekeeping, and maintenance.
►  Pipeline reporting, assessment and review in regular intervals



Work flow Management/Business Process Re-engineering (Consultancy)

    As an added value service, we can develop a process flow or enhance  your existing one to further improve efficiency.

•    Given our experience in the  mortgage and outsourcing industry, we can manage your technological migration. You will be guided in keeping up with the latest technology to enhance your productivity and efficiency.

►  Workflow development and management
►  Process Analysis
►  Technology Integration and Migration



Existing/New Customer Support

•    As an added value service, we can manage and support your existing pool of customer or potential clients through existing communication lines (phone, email, chat, and fax).

•    This will save you time and resources as you will have someone dedicated to providing pre/post- processing services, while increasing your chance of having repeat customers.

►  Account/Product Inquiries
►  Customer and Account Information Management
►  Pay-off quotes and requests
►  Over-the-phone payments



Mortgage Servicing Back Office

We will provide you with a dedicated team led by expert BPO financial  service practitioners who have extensive backgound in the US banking industry. This team can be further expanded, modified Or adapted for other mortgage banking operations and/or other financial services’ (i.e. banking) operations to suit your needs.

Servicing Processes

  • Post check payments deposited through Lockbox

  • Post payments deposited by Home Owners via Bank Tellers

  • Post ACH payments that we auto-draft

  • Process payoffs for wires received (or for maturing loans)

  • Analyze the Escrow balances of home owners

  • Send payment coupons to Home Owners

  • Pay taxes

  • Coordinate with taxing authorities

  • Pay insurance

  • Coordinate with Insurance Companies

  • Upload Reports to the Credit Bureaus

  • Send monthly and quarterly reports to FFSB

  • Coordinate with HUD regarding their loans

  • Send Monthly Billing to FFSB

  • Send escrow refunds and excess payments to customer

  • Perform daily reconciliation of payments against deposits and

  •  transfer to custodial account


Investor Reporting and Accounting Processes

  • Send Monthly Investor Reports to Fannie Mae, Freddie Mac, and Ginnie Mae

  • Perform monthly monitoring of reconciliations and custodial accounts for all investors

  • Send reports via MorNet and Surf for Fannie Mae

  • Send reports via MidaNet and Goldworks for Freddie Mac

  • Send reports via GinnieNet and E-Access for Ginnie Mae


Default Processes (for delinquent Loans)

  • Monitor delinquent loans

  • Create 60 and 90 day Late Notices

  • Send Breach Letters to Home Owners

  • Report monthly delinquencies to Fannie Mae, Freddie Mac, FHA and VA

  • Monitor Bankruptcies (outsourced)

  • Monitor Foreclosure (outsourced)

  • Monitor Eviction (outsourced)

  • Report REO loans to Fannie Mae and Freddie Mac

  • Order Property Inspections

  • Pay monthly Property Inspections

  • Order Property Preservation

  • Pay Property Preservation (e.g. winterization)

  • Coordinate with Attorneys (outsourced)

  • Report foreclosure sales or Deed-in-Lieu to Fannie Mae, Freddie Mac, FHA and VA




Infinit-O's difference  is its clear focus on the delivery of long term measurable business improvement.

Our highly trained and professional mortgage loan processors and employees use the latest world-class technology, and business controls, ISO 9001:2000 quality standards, ISO/IEC 27001:2005 security standards and our proprietary framework to deliver meaningful results to our clients.
              




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Call Us:

U.S. Office
+1 866 727 2504 ext. 410

U.K. Office
+44 (292) 002 6274


Email Us:

info@infinit-o.com


                                                                                        
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