With the On-Demand Processing enhancement we handle the processing, underwriting, closing, and funding of the loans. Should you choose, we will even contact your borrowers to request conditions, allowing you to focus on originating. Some partners worry that this will be met with confusion on the borrower side, but in practice we find the process tends to run very smoothly for all involved.
The Choice Is Yours
First, you have the option to decide whether you would like us to contact your borrowers or not. Want to give On-Demand Processing a test run on a loan or two before having us reach out directly to your customers? No problem. Prefer to always be the one communicating with your borrowers? Also no problem – Just indicate this on the submission form.
In these cases we will work on obtaining documentation from all third parties such as title work, insurance documentation, updated appraisals, etc. We’ll let you manage the relationship with the borrower and any requests for satisfying conditions will run through you.
Clearly Designated Roles
For all clients signing up with On-Demand Processing, we make sure there is a very clear understanding of roles and responsibilities. Our partners are aware of which parts of the process they have designated to us, and which they are responsible for. This eliminates any confusion, no one has to wonder, “Does this task need to be done?” There is no risk of two different representatives calling and requesting the same item.
When you choose to have us interact with your customers, open communication keeps everyone informed about what is happening and who is who on the team working together to bring the loan to closing.
To start, we ask that you inform your borrowers about who we are and where we fit into the process. Once a conditional approval has been issued from our Underwriting Department, the borrower’s dedicated Account Manager will reach out to them and conduct a “Welcome Call.” On this call they will introduce themselves and review any outstanding conditions.
You will remain updated every step of the loan process with automated emails and frequent communication. Should your borrower contact you for an update you’ll have the latest information right at your fingertips.
Learn More About On-Demand Processing
For more information on the On-Demand Processing enhancement for Broker partners, download our FREE White Paper, On-Demand Processing 101!
Photography by [Galina Peshkova] © 123RF.com
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Tags: on-demand processing