FREQUENTLY ASKED QUESTIONS
What is the difference between the initial submission package and the condition package ?
The initial submission package includes the initial submission to the lender. This includes gathering all the documentation from the borrower, preparing your lender disclosures, running DU / LP. We only run DU / LP if we can do so from your lender’s website. We don’t run DU / LP directly from the DU / LP websites. You also need to provide the fees worksheet to submit your initial submission.
The condition package includes clearing all the conditons once your loans have been underwritten by the lender. It does not include the initial submission.
Which lenders have you processed for ?
We have worked with many Wholesale lenders. If for some reason we have not processed for your particular lender, we are good at reading the lender’s checklist for each type of loan submission.
Do you work with lenders or correspondent lenders ?
No our specialty is to work with mortgage brokers. This is why we offer the initial submission package and the conditon package.
Why do we have to pay for the mortgage processing packages upfront ?
Our business model is different. We only hire experienced processors and they expect to get paid for their work once the work is completed. We would not be able to keep good / experienced processors if they would have to process and get paid only if the loan closes. This is why they are not in the mortgage origination business.
This should be a win / win situation. If you only send loans to processing which you know should closed based on their income, assets and credit analysis, then sending loans to processing should not be a risk for you.
We provide a quick hassle free mortgage processing service.
What kind of loans do you process ?
We are one of the few contract mortgage processing companies that process residential and commerical loans!