Mortgage Processing
Services for Brokers
A mortgage loan processor steps in as the liaison between borrowers, mortgage brokers, and underwriters during the origination process.
In a nutshell, a loan processor collects and prepares all the required documentation before the loan is sent to underwriting.About Us
Service is Not Just a Word. It is Our Business.
Whether it’s to increase their productivity or profit margins, many mortgage brokers are choosing to outsource their loan processing needs.
By using a third-party processor, mortgage brokers avoid the operational headache of hiring and retaining an in-house processor or – even worse – handling the loan processing themselves.
Complete Mortgage Loan Processing Services
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SERVICES
Licensed
We are licensed with the Nationwide Mortgage Licensing System (NMLS) and in States in which we operate.
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SERVICES
Increase Your Income
Cutting in-house staffing expenses such as training, benefits, supplies, and office space will help save you time and money.
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SERVICES
Best-in-Class Service
We provide superior service and a seamless experience for the Broker, Borrower, and Lender, offering clear communications in processing mortgage loans from start to finish.
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SERVICES
Flexible Mortgage Processing Options
We can support the various file formats used across the mortgage industry and can easily work with the mortgage software system of your choice. Need a little support or a lot? We will meet you where you are.
Mortgage Loan Processing
Processing
Processing The File?
Once you decide to apply for your mortgage, you’ll need to provide documents verifying information listed on your application. It’s helpful to start gathering these details and items so they’re ready when you need them.
- Date of birth
- Social Security Number
- Navy Federal Share Savings account number
- 2-year address history
- 2-year work history
- Gross monthly income to be used for qualifying for a mortgage
- Any other income to be considered for qualifying
- Deposit account and asset information held by financial institutions other than Navy Federal Credit Union to be considered for qualifying
- Current tax, homeowners/condo dues, insurance and lien information
If you’re self-employed, you’ll also need to provide:
- W-2 forms and personal tax returns from last 2 years
- Pay stubs from last 2 months
- List of monthly expenses (bills you pay each month)
- 2 months of bank, retirement and investment accounts statements
Processing
Mortgage Processing
Get Final Approval and Prepare for Closing
An underwriter will do one final review to ensure your loan is financially sound. We may request additional information or documentation to clear any remaining conditions. Then, your loan will receive final approval and move to closing.
You’ll have the choice of a:
- traditional in-person closing, where you’ll sign all the documents with the settlement agent
- Hybrid eClosing, where you’ll sign most of your documents electronically and the ones requiring notarization at the in-person appointment
Just remember to let your loan processor know your preference at least 3 days before your closing, so we can provide the best experience possible.
Before closing day arrives:
- Review your Closing Disclosure. You’ll receive your Closing Disclosure at least 3 business days before your closing appointment, giving you time to check for errors as it includes your interest rate, loan type, loan term, monthly payments and closing costs. Make sure to acknowledge receipt of the Closing Disclosure by calling or emailing your loan officer as soon as you receive it.
- Decide how you want to pay your closing costs—either with a wire transfer or cashier’s check. If you have any questions, your loan officer can help.
- Set up a final walk-through of your home with your real estate agent. Make sure you feel comfortable with it before you sign any paperwork.
Our Mortgage Processing Benefits
- Being assigned a dedicated mortgage loan processor who is responsible for your mortgage files
- Each mortgage processor has sound processing knowledge, experience, and expertise in the mortgage industry
- Our mortgage processors can accommodate all loan types, including Conventional, FHA, VA, USDA, Non-QM, and more
- To support your needs, our state-of-the-art mortgage loan processing technology can work in any brokerage system
- Our US-based team of mortgage processors provide uncompromising superior customer service. In fact, if you call during business hours, you will always get a live person to speak with
How Are Our Mortgage Processing Services Different?
- We act as your personal mortgage processing department, just like an extension of your own team
- When we answer incoming calls, we simply identify ourselves as the mortgage processing department, just as though we are part of your business. This creates a familiar and seamless experience for the Borrower every time
- We treat your Borrower with care, respect, and professionalism at all times
