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.
