Opening/Initial review

Loan registration and verification of all loan documents received.

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Indexing

Verification and indexing of loan documents received as initial application, or documents received subsequently as the loan is underwritten and processed.

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Doc Validation/Followup

Detailed review of all all loan documents; checking for completeness of loan file and borrower information. Follow up for missing loan documents supported by Voice Based Services. Voice Based Services

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Processing

24x7 application processing and loan file review. Supported by Voice Based Services. Voice Based Services

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Doc Review

Comprehensive qualification of Loan Applications - calculations, guidelines checking, reviewing and Processing of approval conditions and stipulations.

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Preliminary/Contingent and Full Approval/Decline

Approval, Decline, Preliminary approval, Out Of Scope, Contingent approval or Counter offer based on policies and guidelines.

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Underwriting for Auto, Personal, Equity Loans and Credit Card

Underwriting support by verifying credit history and other details for auto, personal, equity and credit card loans.

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Notification

Approval/denial notification sent on behalf of the lender to the borrower.

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Doc Review

Comprehensive review of loan to check for outstanding conditions, and to verify that information is consistent, complete.

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Pre-funding Review

Same day turn-time for review on loan for completeness of documentation.

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Loan Doc Prep

Checking of all conditions attached to the loan; in preparation for closing of the loan.

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Doc Prep for Auto Loans

Preparation and review of documents for closing of auto loans.

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Indexing

Indexing and quality control check of scanned consumer loan documents after closing. Prep for servicing the loan.

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Doc Review

Review of documents for Auto, Personal, home equity loans to check for outstanding conditions, consistency and completeness prior to funding.

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Funding/Closing Review

Complete closing function - Input, verification and adding closing conditions - review of final documents.

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Post Close Review & Corrections

Review of documents to ensure all documents are available and executed appropriately. Seeking additional documents / corrections as needed.

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Payment

Payment checks and exception processing, posting to account, correcting misapplied payments, excess funds, payment returns and bankruptcy warnings, etc.

20% Cost Reduction in Loan Servicing Case Study

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Customer Services

Account maintenance by servicing requests ranging from loan payoff, waiver of fees, misapplied payments, application of principal payments, extension of loan period and several other such transactions.

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Lien Release

Consumer loan payoff, processing after the loan payoff, closing of the loan account and releasing the lien on any collateral. Voice Based Services

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Collections

Early and late stage collections including loan information modifications and customer contact.

Supported by our consumer loan servicing experience and Voice Based Services

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