Nowadays, we see mortgage brokers becoming the largest sellers of mortgage products for lenders. But being an intermediary is not an easy task as mortgage brokers need to look for ways to keep the buyer and banks/non-banks both happy. Large scale mortgage brokers/broking firms need to adhere to several federal laws, state laws, jurisdictions, or licensing boards. They typically help banks and non-banks with finding and qualifying borrowers, initial loan boarding, and loan processing work. During loan origination processing, the broker compiles and processes the paperwork associated with a loan file. Processing hundreds of loan files every month requires workforce, technology, and a substantial investment. That is why we see a growing number of brokers partnering with service providers to deliver on time, reduce fixed costs, reduce operational risks, and maintain profit margins.
The increasing competitiveness of the mortgage market is giving birth to a commission-based model, which is making mortgage broking more popular
At Peoples Processing, we help large scale mortgage brokers or broking firms with loan origination support
Our origination processing includes Loan Document Indexing, Order VOE, VOD, VOM and VOR, Order Appraisal, Title, Hazard and Flood Certificates, Generate Tax Certificates, Verification of HOI (Homeowners Insurance) and Title Search & Report Preparation. We also manage your vendor relations, and we have a Texas-based team that supports you in quickly acquiring missing documents to reduce the loan cycle time. With vendor management taken care of, you can focus more on your core business and not worry about coordination.
Our 10+ years of experience working with customers, self-motivated teams, automated workflows, and intelligence powered by RPA and AI technologies and digital compliance ensures operational efficiency and customer satisfaction with our clients. Partnering with Peoples Processing for your mortgage processing can help you save loan cycle time, reduce fixed costs while giving you a competitive advantage in the market.
Loan Processing Support
Loan Registration: Processing of all Borrower Documents and Loan applications
Disclosures: Processing of Disclosure documents such as TILA, The Good Faith Estimate, and Initial Escrow Account Disclosure
Loan Setup / Submission: Preparation of loan file for processing and issuing orders for third-party documents
Indexing / Inputting: Complete review and indexing of all mortgage documents for underwriting and processing support
Third-Party Coordination
Third-party Documents Ordering
Order VOE, VOD, VOM, and VOR based on the requirements from the respective departments and review them according to the client checklists.
Order Appraisal, Title Report, Hazard, and Flood Certificates on behalf of the client and update in the loan file.
Order VA and FHA Case Numbers in case of Government loans.
Generate Tax Certificates.
Benefits of partnering with Peoples Processing
Licensed to do business in 29 States, enables adherence to your state-specific requirements
Single window processing to avoid managing multiple vendors
Headquarters in Austin, TX with two production facilities located in India
Experience working with all the leading LOS, Compliance and Servicing platforms
Flexible engagement model to help you reduce fixed costs
SSAE 18 compliant (SOC 2 audit in the process)
