There are hundreds of complex activities that need to be completed accurately and within deadlines during mortgage pre-closing process. As mortgage lenders, are you following the rigid pre-closing formalities and creating all the loan closing documents with precision? If no, you stand to face tough regulatory consequences and penalties. Every transaction detail must be accurate, and an itemized list of the closing costs as well as the accompanying fee must be prepared. All documents must be sent at least three days prior to signing the loan.
O2I is a Freddie Mac compliant mortgage pre-closing support services provider. By outsourcing mortgage pre-closing support services to us, you can rest assured that we will maintain complete regulatory compliance, ensure borrower’s data integrity, execute all documentation tasks meticulously, save time, and minimize your loan pre-closing efforts and costs.
Mortgage Pre-Closing Support Services We Offer
O2I offers the complete range of mortgage lending back-office support services to lenders across the globe. With well-defined processes and dedication to compliance, we can offer error-free solutions for all mortgage pre-closing support services in India. Our offshore mortgage pre-closing support services include -
Mortgage Pre-closing Audit
We deeply analyze the purchase offer on your behalf and make sure that it is completely understood and accepted by all parties. We methodically check the loan estimate, escrow statements, closing disclosure, mandatory documents, and promissory notes through our multi-level review methodology. Checking whether the approval of finances has happened or not and whether the property has been approved is also a part of the process. We offer committed services and our team remains aligned with your needs during the entire mortgage closing process.
Connecting with The Financial Institutions
O2I acts as a reliable partner that follows refined practices to gather details about closing costs, down payments, etc. Our team will liaise with banks on your behalf to collect all the important details regarding the loan costs. We provide complete borrower documentation and personal details to the bank and inform the mortgage lender if any document or information is missing. We bridge the gap between the bank and the lender to accelerate the process. We also help in obtaining insurance for the end customers and keep them informed about the insurance fine print.
Mortgage Payoff Statement Review
We offer complete payoff statement assistance to lenders and borrowers. Our team conducts a comprehensive review of the payoff statement including details like loan amount, down payment, balance due, interest rates, payment schedule, closing costs, and more. We will re-check all the number to ensure accuracy. If needed, our team also explains the complex statements and terms to the borrowers.
Loan Disclosure Form Preparation
Following the procedures set by the Consumer Financial Protection Bureau (CFPB), we prepare all the details associated with the mortgage loan. With complete and accurate information, loan documentation and loan closure becomes much more streamlined.
HUD Settlement Preparation
We prepare the HUD statement that itemizes all charges imposed on buyers and sellers in the consumer credit mortgage transactions. It is a complex process that relies on agreement from lenders, attorneys, and other parties before the closing process can be initiated. With our years of experience in this field, we can prepare HUD statements with accuracy and speed while including all the vital information. You can focus on your customers while we take care of the HUD settlement process.
Mortgage Closing Support Services
Once the pre-closing activities are done, we move on to offer complete support for mortgage loan closing. Our services include title support services, closing support services, closing instruction preparation, settlement statement preparation, and more.
Mortgage Pre-closing Support Services Process We Follow
We follow a comprehensive process and mortgage lending quality control checklists to ensure that all the requirements are met accurately and timely. Our process includes -
01. Requirement Discovery
We will gather Loan information from the lender, borrower, seller, bank, lawyer, insurer, etc.
02. Data Collection
We will obtain personal details and documents of the buyer and the seller
03. Document Analysis
We will ensure if the property survey was conducted accurately and on time
04. Accreditation & Approval
We will check and maintain regulatory compliance throughout the journey and make sure that all the clearances are received
05. Mortgage Pre-closing Support
We will collect and check all the necessary documents and prepare the same for closing
We will Inform all parties involved in the mortgage closing time, date, terms, and schedule
Other Services you Can Benefit From
Why Should You Outsource Mortgage Pre-Closing Support Services to O2I?
Outsourcing mortgage pre-closing support services to O2I can bring you several benefits over hiring a full-time mortgage services professional. Being a trustworthy mortgage pre-closing support services company, you can leave your pre-closing concerns to O2I while you tackle other critical challenges. Here are several reasons why you should choose us -
Certified Mortgage Pre-closing Support Service Provider
O2I is a state-licensed outsourcing mortgage services company which is ISO 9001:2015 certified to offer the complete range of mortgage loan processing services. When you outsource to us, you are in safe hands.
High Accuracy and Quality Service
With over 15 years of experience and the knowledge gathered by serving thousands of clients, our team can follow a systematic process for all loan pre-closing activities. We have a comprehensive checklist for multi-tier verification and review, which makes our process fast and accurate.
With our mortgage pre-closing support services, mortgage lenders can reduce errors, mitigate fraud, ensure regulatory compliance and keep their customers happy. We minimize chances of loans getting rejected due to inaccurate or incomplete information. We also handle your mortgage data with care by adhering to ISO/IEC 27001:2022 accredited data security regulations.
The turnaround time for mortgage pre-closing support is quick. Our team is supported by the best infrastructure and software to enable quick turnaround for the pre-closing support.
The mortgage pre-closing support services are scalable. We can replenish or remove the number of professionals from your project because we can scale up or down depending on your needs.
Our clients could save anywhere between 30-40% of their mortgage pre-closing support services costs by utilizing our solutions.
Experienced Team of Mortgage Pre-closing Experts
O2I is a leading mortgage pre-closing support services company that has been serving the global mortgage industry with end-to-end back-office support activities. We understand the mortgage lending workflows, the functioning of all the parties involved, and know how to optimize the entire process.
Robust Technology & Infrastructure
Our team works in a state-of-the-art facility with popular industry-specific software, document management tools, CRM tools, and other automation technologies. We use tools like M-Suite (a document management tool) and many other latest loan management applications. You can trust us for providing top-notch services.
Increased Regulatory Compliance
Mortgage industry must follow stringent compliance norms and regulations or face severe penalties. Lenders must make sure that the partner they outsource to also follows these guidelines precisely. O2I strictly follows the guidelines given by HUD, Fannie Mae, Freddie Mac, FHA, GSE, and more.
Secure Data Sharing
We understand the importance of maintaining total data confidentiality while handling sensitive customer information. We follow stringent guidelines to make sure that there is no breach. We have a secure FTP and VPN network through which we communicate and share data with our clients.
Our clients enjoy round-the-clock access to our mortgage pre-closing support services. We have a flexible service model that supports all the time zones. Our special delivery centers are spread across the globe, which allow us to provide dedicated services within a quick turnaround time.
Customer Success Stories
Mortgage Valuation Services
A leading client wanted our team to help them with mortgage valuation services and reduce overall costs by 50%. Our team provided the services within a quick time.Read more
Leading Mortgage Lender Experienced 15% Increase in Business with Our Mortgage Underwriting Services
The client was inundated with underwriting backlog and failed to clear files in time. This prompted them to approach O2I for underwriting support. We helped them increase returns by 15% in quick TAT.Read more
I have worked with Rajeev and his team at Outsource2india for the last 3 ½ years. I have been continually impressed by the level of professionalism and integrity of the O2I team has provided. We are looking forward to many more years of partnership with this great company.Senior Vice President, Fast Growing Mortgage Company More Testimonials »
Outsource Mortgage Pre-Closing Support Services to O2I - Mortgage Expert
O2I is well-known for its mortgage pre-closing support services in India. We are an ISO certified Mortgage closing support company with over a decade of experience in offering the complete spectrum of mortgage loan processing support services. Our clients are pleased with our well-refined processes, transparent communication, skilled resources, swift turnaround, and superior quality. We offer professional mortgage services at an affordable rate. We work flexibly according to your business needs, timelines, and budgets.
Contact us today if you are looking for a mortgage pre-closing support services company. Our team is ready to work with you.