Are you facing a monumental challenge in getting approval for a renovation mortgage loan? It can be a daunting task for homeowners to get financed for carrying out extensive repairs since conventional loans aren't easily approved by banks. However, eligible owners can lessen the burden by working with a professional renovation mortgage loan processing company like ours.
Flatworld Solutions have the expertise to process FHA-insured renovation mortgage loans at fraction of the time and expense involved in back-office support services for renovation mortgage. With 19 years of extensive experience, we are aware of the mortgage landscape and the regulatory compliances to process mortgage loans in a risk-free manner. We can expedite the loan process so that you can focus on completing repairs for a higher appraisal value.
Renovation Mortgage Loan Support Services We offer
Since the process involved in mortgage loan processing support services are intricate and not easily comprehensible to lenders with limited experience, we are contacted due to expertise in the system and awareness of the fine print that specifies risks, benefits, clauses, and other details. The services we provide as part of renovation mortgage loan support services are as follows -
Renovation Loan Processing
At Flatworld Solutions, we collect employment records, credit check reports, loan applications, and pay stubs before a thorough assessment. Apart from the primary document aggregation we also run extensive checks on documents pertaining to the renovation mortgage loan that includes borrower-contractor job card, insurance, work permit, contractor's license, etc. We also provide complete assistance in FHA 203k loan approval and scrutinize the occupant/owner eligibility for renovation loan mortgage. The information is updated in a secure CRM for record-keeping and future use.
Property Inspection and Scope of Work (SOW)
Once you outsource renovation mortgage loan support services, we will run property inspection based on the scope of work (SOW). By drawing comparison, we will evaluate if the work carried out is according to the SOW requirements. Documents aggregated from contractors and borrowers that are part of SOW will be investigated to detect imminent risks that are tied to a property that requires extensive renovation. Our goal is to ensure that the loan approved for building rehabilitation justifies the cost of the contract by factoring the risk.
The renovation mortgage loan may be independent of traditional property appraisal. After repair value of the residential mortgage loans can be estimated by turning to property appraisal. Once the appraisal is complete, our team will compile recorded information to uncover the extent of renovation required on the property along with an estimated value of the property after the repair. The lender is provided a detailed report in quick TAT to take loan decisions by weighing in facts.
At FWS, we liaise with loan processors and underwriters to avoid miscommunication and delay in the decision. Our robust support mechanism in mortgage underwriting will guarantee that the underwriter receives an error-free renovation mortgage loan information. This will enable them to approve or deny the application without an extensive perusal. We can enhance the speed of underwriting because we rely on a checklist approach where documents are collected and ordered in a template that is easy to analyze.
Mortgage Loan Closing
We will extend back-office support to create escrow account before dispatching the loan package that includes loan tenure, disclaimers, and other payment data. As part of mortgage loan closing services, a detailed listicle to guide property owners/occupants during the renovation can be created by collaborating with loan processors. We also can offer the fullest support to take care of customer query on amount withdrawal and escrow account.
The Process We Follow in Renovation Mortgage Loan Support Services
Unlike other providers who partially commit to a service that warrants closer attention to detail, we walk an extra mile to bring satisfaction to lenders and borrowers by making the process transparent and visible even underneath the surface. Our efforts are focused on bringing low-cost alternatives to handle renovation mortgage loan services -
01. Pre-approval of Mortgage
We will screen the borrower financial portfolio to know if they possess merits to qualify for a residential mortgage loan
02. Renovation Loan Mortgage Application Support
We will speed up processing the FHA 203k and Fannie Mae loan depending on borrower's need. We will notify borrowers, an accurate checklist of mandatory documents
03. Processing of Mortgage
An appraisal will be ordered by our professional loan processors and the mortgage process will be expedited based on the accuracy of furnished data
04. Renovation Loan Mortgage Underwriting
The accurately verified documents, forms, and observation reports will be furnished to an underwriter for their decision on renovation mortgage loan
05. Mortgage Loan Approval & Closing
After obtaining approval from an underwriter, the borrower will be provided a loan package that will consist of instructions and other details on loan repayment
Other Services You Can Benefit From
Why Choose Flatworld Solutions for Renovation Mortgage Loan Services?
Renovation mortgage loan process has areas that require skill and analytical capabilities to help borrowers to understand formalities involved in the process that they must fulfill to avoid a setback after furnishing the initial application. At Flatworld, we make this process a success by eliminating legwork and facilitating speedier access to loan amount for refurbishing the residential homes. Here are more reasons why we are a top choice for renovation mortgage loan services -
Certified Mortgage Service Company
Flatworld Solutions is ISO 9001:2015 renovation mortgage loan services provider. We make sure that lenders and borrowers take the path with least resistance towards a successful loan closure and repayment.
Flatworld is ISO/IEC 27001:2022 certified for following stringent data security practices to safeguard confidential and sensitive information from the harm's way. We follow the best practices to keep you (our clients) safe.
High Accuracy and Quality Service
We ensure that accuracy is unparalleled in every step of the renovation mortgage loan services because the mortgage is an area that commands a high level of caution due to the risk of unwanted liabilities that can entail negligent verification practice.
We have excelled in delivering services 15% faster than most competitors. This is the reason why our services can be counted upon if you are already time constrained.
If you are a lender facing multiple loan requests, then our services can help you make decisions faster because are ever-ready to scale up or down depending on your needs.
Pocket-friendly Pricing Options
Renovation mortgage loan services have been priced flexibly to let you take advantage of what we offer without going overboard with your budget. We serve small, medium, and lending institutions alike without variation in quality.
Single-point of Contact
If you concerned about having to face multiple representatives during the project its time to leave your worries aside because we provide a dedicated person who will take queries and provide updates when you need to contact us.
Experienced Team of Mortgage Analysts, Underwriters, and Appraisers
Our team consists expert mortgage analysts, appraisers, and underwriters who come with 11+ years of experience in mortgage services. The skill and knowledge of the team will collectively contribute to a successful execution of renovation mortgage loan service.
We employ advanced infrastructure (technology, security, and physical) that is superior in every possible way to combat most current challenges and to deliver quick results.
Secure Data Exchange
We use SFTP and VPN to facilitate sharing of confidential mortgage data in a secure way. In this way, your data can be safely collected and stored in the Cloud until completion of the project.
We can be contacted by phone call, email, or web chat from any part of the world because we have 24/7/365 contact centers that are ready to serve your needs with passion and speed.
Client Success Stories
FWS Helped Mortgage Lender Improve Business Conversions by Providing Underwriting Services
A leading mortgage lender was able to see a 15% bump in business due to Flatworld Solution's cost-effective mortgage underwriting services
Residential Mortgage Lender Benefits from FWS' Quick Loan Processing & 50% Reduction in Cost
Flatworld Solutions was able to shorten the loan closing time for a residential mortgage lender by shrinking the closing time by 30-50%
Outsource Renovation Mortgage Loan Support Services to FWS - Leader in Mortgage Services
Flatworld Solutions delivered what they promised; delays in loan processing & lengthy closing time are now a thing of past. Our loan officers and borrowers are happy.President, leading mortgage lending company in the US More Testimonials »
Flatworld Solutions is an ISO certified renovation mortgage loan services company based out of India. With skilled mortgage specialists and state-of-the-art delivery centers, we are equipped with the best people and technology to carry out mortgage support services with ultimate passion. We have over 200 professionals who are dedicated to processing your needs with passion. Our team, being aware of the latest mortgage laws and trends can do much more to save you from additional hassles to process mortgage loans for borrowers who need financing to carry out home renovation. We also offer other services such as mortgage underwriting, mortgage closing support, mortgage post-closing support, and more.
Reach us now if you are looking for a safe and cost-effective way to serve borrowers who need renovation mortgage loans.