Boarding & indexing
Faster and more accurate review, data entry and indexing of application information and associated documents.
SLK helps bank move up 5 places in J.D. Power overall satisfaction for mortgage origination
Review quality check of initial disclosure
Review of fees, cost, and other documents to ensure accuracy and verify the defined disclosure timelines and guidelines are met.
45% productivity increase and 50% faster turn time in residential mortgage input function.
Administrative & verification support for processing
Review of application information and identification of data discrepancies against client guidelines/ checklists to reduce rework.
Review third party documentation and enter data
Review and verification of third party documentation and input of information into the origination system.
Identify deficiencies in application form and documents
Review, identify and notate deficiencies in the submitted application form and all associated documents quickly and accurately.
Delivering 99% accuracy & reduced turn time in mortgage underwriting
Third party ordering of documents
Appraisal, title, flood, hazard insurance, fraud mitigation results, work number and 4506-T preparation for IRS tax transcripts.
Review of documents/data used by underwriters
Critical review of the application/documents to provide a pre-conditioned file to final underwriting within an average of 2 touches.
40% improvement in pend error detection rates by reviewing of data & documents used by underwriters.
Thorough analysis of asset documents to identify large deposits, supporting documentation to analyze source of funds for large deposits are from acceptable sources, verifying gift documentation and receipt of gift funds and analyzing gift of equity with adequate documents.
Verify monthly obligations and address inquiries/ additional addresses. Detailed review of credit report for potential red-flag.
Full income calculation
Salaried/ self-employed/ all other types of agency acceptable income sources.
AUS (DU/LP) resubmission
Ensure any revision in loan/borrower’s information (income, assets, liabilities etc.) are accurately accounted for in AUS risk assessment & decision.
Complete review of disclosures
General, state specific and program specific.
Verifying taxes & insurance associated with subject property with authentic documents, verifying tax amounts as per public record on netronline.com, validating insurance coverage amount and loss payee clause as per client requirements.
Validation of expenses pertaining to other REOs
Checking for mortgage statements to verify if the monthly payments are escrowed, if not escrowed then verifying taxes/insurance with additional documents and verifying HOA dues (if any) with HOA certificate.
Complete collateral review
Appraisal and title reports.
Underwriting cover sheet
Detailed loan synopsis for quicker approval.
Fraud identification quality check
Review of documents to identify risky and questionable transactions prior to and post-funding.
Identified fraudulent transactions of over $21 million.
Pre-closing quality check
Review of documents, information, and file to identify deficiencies prior to finalization of fees and costs associated with the approval of an application.
37% reduction in closing pend rates for a large lender.
Pre-funding quality check
Review of documents, information, and file to identify any deficiencies and to ensure completeness of documentation prior to deal execution/ funding.
Closing worksheet initial preparation
Input data for and review closing worksheet to compute and verify fees and associated costs based on information included in the file.
Enhancing customer satisfaction with support for 25% faster closing turn time.
Closing disclosure review and quality check
Compare and balance details on fees and cost details between the funding system and the associated closing worksheet.
Post-close quality checks
Review of file to identify deficiencies and check for completeness of documents for portfolio and/ or for sale in the secondary market.
Reducing post-closing pend errors by 85%.
RESPA QC review & corrections
Review of communication including fees, cost, and other documents as per the defined timelines. Identify and notify of discrepancies to ensure correctness.
45% overtime reduction in closing, funding, RESPA review & post-closing mortgage operations by cross-training.
HMDA reporting data entry
Review and input information regarding action taken based on communications between the institution and its customer within the defined timelines, in case of denial or withdrawal.
Forensic review of loan package
Review of existing performance ratios to enhance salability in the secondary market through analytical models.
Identified possible defaults through analytical models using DTI%.
Account maintenance support
Assist in routing and generating documents in response to customer requests ranging from name and address changes, 1098 forms requests, waiver of fees, amortization schedule to credit reports correction.
Payment entry and QC
Data entry for payment checks and exceptions, posting to account, correcting misapplied payments, excess funds, mortgage payment returns, and bankruptcy warnings, etc.
20% cost reduction in loan servicing.
Escrow, taxes & insurance account support
Assist in generating documents and perform QC throughout the escrow process, including creation, modification, maintenance and deletion of escrow accounts and generation of reports of Principal, Interest, Taxes and Insurance (PITI) paid.
Lien release initial preparation
Draft documents to release the lien on the property post mortgage loan payoff.
Early-stage collections including relaying information on loan modifications and customer contact (performed by a licensed affiliate).
Supported by our mortgage servicing experience and an Omnichannel Contact Center.
Real time property tax and municipal lien certificates
Nationwide real estate tax and municipal lien reporting at the click of a button.
Avoid costly penalties from outstanding property taxes,
code violations, etc.
Real estate property tax servicing
End to end property tax servicing for residential and commercial properties. One-stop-shop for tax search, payment processing, claims management.
Loan modification support
Support in managing loan modification requests from borrowers.
Omnichannel contact center services to support in skip tracing and early stage collections
Processing exception of monetary transaction on delinquent loans including loans in foreclosure, bankruptcy or other stages of delinquency.
Indexing for homeowners assistance applications, mortgage & consumer loans.
Default referral document preparation
Collect documents from electronic storage system to initiate the foreclosure referral.
Default quality review
Quality review on decision taken for approval, denial, and closure process for loss mitigation workout requests (short sale, deed in lieu, forbearance and repayment plans).
Outside collection agencies call monitoring
Quality audit of inbound or outbound calls received/ made by the collections team to verify as per a standard checklist. Some of the parameters verified include - call disclosure and verification, payment negotiations by the agent, bankruptcy & balance dispute, deed-in-lieu.
Use of analytics, data reporting and mortgage processing knowledge for comprehensive workflow improvement.
Driving to six sigma (99.9986%) accuracy levels in lockbox processing
Loan registration, inputting and indexing combined with checking for completeness, verification of documents as well as calculations for the loan.
Operational risk assessment
A structured methodology for process mapping, assessment of risk controls, prioritization and roadmap for addressing control issues.
Identified fraudulent loan amount of over $21 million in mortgage originations.
High-end complex analytics function, quality Assurance, analysis of performance of operations (closing, processing, etc).
Accurate entry and validation of every (manual) order to avoid misplacement, delay or duplication of orders.
25% volumes surge processed for appraisal management company while reducing cost.
Quicker assignment of orders to appraisers/vendors - selected based on their rating, proximity, price, and availability; tracking appraiser appointments and updating the client on delays.
Detailed verification of all payments received to ensure accuracy and to identify charges or refunds.
Leverage our Omnichannel Contact Center capabilities to assign and track rush orders and to handle fee quote requests.
Follow up on orders assigned to appraisers, validating and updating expected order completion time.
Tracking of appraiser appointments, confirmation of appointment, updating clients on delays, reallocation of revision and updates.
Reviewing appraiser's license and validation of E&O insurance, expiry date, license #, name & expiry date.
Managing communication between the lender and appraisers using our Omnichannel Contact Centre.
Review Appraisal Reports
Initial quality control of appraisals to verify compliance to guidelines and regulations.
Improving appraisal review cycle time by over 20%.
Post completion appraisal review
QC of appraisal reports based on revisions; review if any further revisions are required post initial submission of the report to the clients.
Value variance reviews
Review and exception handling of valuation where the variance is above threshold set by the customer.
Broker price opinion
Accurate, consistent and timely BPOs delivered via web and mobile devices.
Registration of new appraisers, including document collection, verification, and reference check, managing license and insurance expiration, receipt of signed contracts,etc.
~10% reduction in turn times using flexible staffing in appraisal management.
Setting up/registration of lenders/clients on the appraisal management platform and managing lender relationships.
Add-on valuation services to complete portfolio of offerings that an AMC can offer.
Accurate, consistent and timely broker price opinions leveraging a nationwide professional broker network.