Is your organization struggling to process jumbo mortgage loans within a short time and save on costs? Are you falling short of skilled resources who can handle your jumbo mortgage loan support requirements? Then, the best option for you would be to outsource to an experienced service provider who can take the burden off your head.
Flatworld Solutions has 10 years of experience in providing reliable and high-quality back office support for Jumbo Mortgage Loan Processing. Our Jumbo Mortgage Loan Support services depend on customized workflows that take care of all the critical aspects of extending financial support for Jumbo mortgage loans such as verifying borrower credit requirements, assessing loan down payment values and interest rates and evaluating property appraisal and title reports.
Jumbo Mortgage Loan Processing Support Services We Offer
As a global Jumbo Mortgage Loan Processing Support company our jumbo mortgage loan back-office support is designed to assist lenders in minimizing risks associated with the approval of large loan amounts. We leverage our expertise in dealing with Jumbo loans to meet all your back-end processing requirements with ease. Outsource jumbo mortgage loan services to ensure reduced costs of operations and on-time service deliverables. Some of our key services include -
Loan Pre-Approval and Application
Our services start from the pre-approval step wherein we assist you to identify the repayment potential of borrowers. We collect important documents from the borrower such as a copy of employment history, tax returns, credit scores, borrower pay slips, and declaration of income and past loan repayment records. We assess the eligibility criteria down to the last detail to ensure there is no slip-up of any sorts. If a borrower qualifies, we assist them in filling form 1003 and W2 and initiate the loan approval process. Our robust pre-approval process helps you pick and choose only those borrowers who are capable of repaying the jumbo loan successfully. We assist you to collect the following -
- Bank statements, W2s, pay stubs, etc.
- Pension/mortgage statements
- Divorce decrees
- Child support documentation
- Homeowner's insurance docs and flood certificates
- Escrow documents
Jumbo Loan Processing
In the jumbo mortgage loan processing step, we determine the risks associated with approving the loan. In this step, we evaluate the collected documents to understand the borrowers' loan repayment capability better. The processing of the mortgage begins once the application has been screened for all borrower requirements. In this step, our processor has a look at the Credit Report, Appraisal and Title Report. During the review process, the processor also verifies the information on the application which includes bank statements and payment histories. Our processors particularly look for credit inconsistencies, such as late payments or judgments and upon finding them seeks a written explanation for the reason for such bad record. Once all of these are completed the mortgage package is put together for submission to the lender. We assist you to examine the following -
- Forms 1008 & 1003, W2s, LE, etc
- Pre-screen credentials
- Check the latest social security status
- Review existing loans (with MERS)
- Perform credit check for all your borrowers on a regular basis
Appraisal Ordering and Management
Our mortgage loan processor also examines the Title and Appraisal report to ensure there are no issues associated with the property. It all begins with the scheduling of the appraisal process, followed by the delivery of the completed files to the appraiser for evaluating the market value of the property. We provide the appraiser with all back-office support needed to ensure a fair appraisal of the property. Once we receive the report from the appraiser, we review the report for errors and misrepresentations. In case of issues or doubts, our loan processor may order further investigation. We assist you with the following services -
- Order and liaison with appraisers for submission of appraisal reports
- Analyze factors that impact property market value
- Review reports for thoroughness and compliance
- Schedule property inspection
Title Ordering and Management
This step takes place simultaneously with the appraisal process. We get in touch with the title company and submit the property details for a background investigation. We keep liaising with the company to get the report on time. Upon receiving the report we further examine it meticulously for the chain of ownership and make sure it is correct and complete, and there are no liens, judgments, or lawsuits pending. In case of inconsistencies, we send the report back to the company or agency seeking correction of title errors. Our end-to-end title services include -
- Order for Title reports and follow up to obtain the final Title report on time
- Assist lenders in understanding the title commitment report
- Initiate and complete title insurance order for the property
Jumbo Loan Underwriting Services
Our loan underwriting services involves pre-underwriting the loan and then sending it to the underwriter for writing the conditions. During the pre-underwriting stage, we re-confirm and validate all vital information such provided by the borrower and weigh it against the loan amount, interest rates repayment terms and mortgage insurance details before sending it to the underwriter for final consideration. Our mortgage underwriting services are designed to present the facts to the underwriter on a platter thereby assisting the underwriter in taking the right decision in the shortest possible time. Our services include -
- Assess credit risk by leveraging Desktop Underwriter, Fannie Mae's Automated Underwriting System.
- Assess credit risk by leveraging Loan Prospector, Freddie Mac's Automated Underwriting System.
- Carry out comprehensive Fraud Review.
Jumbo Loan Closing and Funding
Once the loan has been approved, we assist our clients in compiling the jumbo loan closing package. We create disclaimers; file the jumbo loan approval records including the approved amount and repayment schedule. Our checklist-based approach in collecting and filing the documents ensures the closing is rounded off in a neat manner.
- Collect all necessary documents for closing
- Final review of the loan application and submitted documents for errors
- Submit closing instructions statement to the funding department, along with necessary docs
- Ready the closing instructions statement
Other Services You Can Benefit From
Why Choose FWS for Jumbo Mortgage Loan Processing Support Services?
We have partnered with several reputed lenders to provide them top-notch back office support for jumbo mortgage loan processing support. Our value proposition lies within the following -
We have over two decades of industry experience and so understand the volatile nature of the industry. We use this knowledge to provide the best, jumbo mortgage loan back-office support.
We rely on well-developed process workflows and checklist-based approach to ensure lenders provide wholesome financial support for a jumbo mortgage loan. This combined with the use of advanced automated tools ensures there is enhanced cost savings.
We tailor our solutions to meet the specific business needs of every client. Our proprietary LOS and other self-developed automated solutions for document management guarantee better jumbo mortgage loan processing efficiency and productivity.
Single Point of Contact
When you choose to partner with us for jumbo mortgage loan support services, we will assign a dedicated project manager who will be the single point of contact for all your needs. This manager will keep you updated about all the project developments at every stage.
We know the importance of having good infrastructure while delivering quality loan processing support services. We have access to the best infrastructure in terms of world-class office spaces and the latest mortgage loan processing tools and technologies.
Easily Scalable Services
We have the required skills and resources to ramp up the service requirement depending on the work volume. We can scale up the number of resources as and when the client needs it with ease.
We take mortgage data security very seriously. We are an ISO/IEC 27001:2022 ISMS certified organization which ensures that all your data is kept safe from any unauthorized access. We ensure that the data is not divulged to any third party without permission.
Round the Clock Support
We provide our clients with 24/7 support. All our teams including sales, marketing, call center, and mortgage project managers are available at all times to answer your queries via phone or email.
High-quality Loan Support
We believe in providing our clients with the best quality services. We are an ISO certified organization which ensures that we deliver only the best quality services to our clients. All our services are completely error-free and on time.
Client Success Stories
FWS Helped Mortgage Appraisers to Increase their Business Income
Know how Flatworld Solutions assisted a major mortgage lender to increase their business by 25%, reduce the turnaround time, and reduce costs by 50%
FWS' Mortgage Services Helped a Leading Mortgage Lender Reduce Their Operational Cost by 50%
FWS helped customer reduce his operational cost by 50%, double his loan volume, and get ahead of other mortgage lenders
Outsource Jumbo Mortgage Loan Processing Support Services to Flatworld Solutions
Partnering with Flatworld for a mortgage has been a turning point in my business! I highly recommend your servicesCEO, US-based Mortgage Company More Testimonials »
We are your one-stop shop for all your Jumbo mortgage loan processing and other mortgage loan processing support needs because of our end-to-end support for all your needs. We ensure full compliance with all regulatory requirements and back jumbo mortgage loan processing needs with robust data backup and security and multi-tier document verification steps to ensure complete accuracy.
Contact us now to outsource jumbo mortgage loan processing support.