Mortgage Processing Companies

 

Mortgage processing companies in rochester ny provide invaluable assistance for mortgage brokers when their own in-house processors reach capacity, helping to speed up the process without needing to hire and train additional staff. They can be utilized all year long or just during busy seasons of their business.

Experienced loan processors must understand all facets of the mortgage loan process in order to provide quality service for borrowers. As the lead intermediary between mortgage brokers, underwriters, closing departments, buyers/sellers/agents/attorneys, title companies and third-party vendors; good loan processors will make sure that loans are processed correctly with as few conditions as possible before being released for closing.

Contract Loan Processors work on all types of mortgage loans including Conventional, FHA, VA and USDA Loans as well as High Balance loans. Their duties typically include employment verifications; bank deposit confirmations; review credit reports; confirm property information; collect documents such as tax returns paystubs W2s from borrowers as well as upload them all onto lender portal. As they don't get paid until after closing occurs they will always go out of their way to ensure your file is complete, legible and ready for underwriting; keeping in regular communication between borrower and loan officer regarding loan progress with regular updates to keep both parties involved up-to-date regarding loan progress as well as providing updates.

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