Processing has been described as the life blood of the mortgage business. Unfortunately, few companies have formal processing training. Until now...
This product is designed to give the new or entry level processor all information necessary to be able to be able to process a large volume of loans accurately and correctly.
Our textbook teaches processors the functions they are expected to execute, and to be able to quickly learn to manage a pipeline.
Our textbook provides detailed, step-by step instructions that cover:
- Loan intake
- Loan file set-up
- Regulatory disclosure requirements
- Vendor management
- File status reporting
- Borrower communication
- File readiness determination
- Pre-underwriting review
- Working with automated underwriting
- Satisfying loan stipulations
- Pre-closing preparation
- File audit preparation
Specific treatment of various specialty programs, such as construction loans, FHA and VA loans, streamline refinances, debt consolidation, brokered loans versus in-house underwritten loans is also included.
Finally, the textbook also covers time management techniques, automation integration, and a number of other management tips and processes.