FAQs on Outsourcing Mortgage Services
Mortgage industry is highly competitive, and demands high level of accuracy. This can be both time-consuming and challenging, making it difficult for the mortgage companies to stay ahead of their competitors. Partnering with a reliable outsourcing partner who can provide reliable mortgage services can be a lucrative option. However, while outsourcing such critical tasks, it is certain that companies will have numerous queries in mind. Read through our comprehensive list of frequently asked questions on mortgage services we offer and gain clarity on the process we follow.
What are the different types of mortgage services you offer?
We offer a comprehensive range of mortgage services, which include -
What type of mortgage clients do you work for?
We provide a comprehensive range of mortgage services to numerous global clients including mortgage banks and lenders, mortgage underwriters, credit unions, mortgage closers, contract loan processors, blue-chip companies, and various other types of financial institutions.
Mortgage Data Security
Is your team qualified or experienced to handle different types of mortgage requests?
Our mortgage team has rich experience of working with numerous lenders across the globe, with all the resources carrying a minimum experience of 5 years. All our mortgage professionals are well-versed with the latest lending guidelines and are also updated with all the recent changes. In case of any regulatory changes, we closely work with the client to ensure maximum efficiency.
Do you leverage any software for providing mortgage services?
Being in the industry for close to two decades now, our mortgage services team is accustomed to numerous software systems and platforms. We seamlessly integrate with the software and technology that the clients use to successfully assist them with their mortgage requirements.
Mortgage Outsourcing Benefits
Is your team accustomed to Loan Origination Software (LOS)?
We carry rich experience in offering quality mortgage loan origination underwriting services, where seamlessly merge with the client's loan origination software.
What type of engagement model do you follow?
We customize our engagement model based on the client's requirements. For short-term projects, you can hire our expert team on an hourly basis or for a few working hours every day. However, in case of long-term services, you can avail our Full-Time Equivalent (FTE) mortgage services.
Where are your operation centers located?
Our corporate office is in Princeton, NJ and our operation centers are in India (Bangalore & Pune) and Philippines (Davao).
Mortgage Transition Process
Do you maintain any operational centers on-shore?
Considering the primary advantages of outsourcing, such as pricing, quality, scalability, and speed, along with our commitment to ensure that all our clients leverage these advantages to the fullest, we have decided not to maintain onshore operations. However, we regularly send our staff onshore to collect requirement gathering, ongoing process improvement, and gain performance feedback.
Is there a minimum volume requirement to outsource the project to you?
We do not follow "per-file based" pricing and generally need at least one full-time staff to commence a project, as we lack a shared-resource model. Furthermore, as maintaining dedicated staff requires some capacity, it would be ideal to have a minimum volume of 20 loans and above to keep the resources occupied throughout the business hours.
What type of pricing structure do you follow?
Our mortgage services are highly cost-effective and will help you cut down huge on your operational costs. The pricing structure we follow is strictly based on the following factors -
- Complexity of the project
- Tools and technology used in the project
- Skill requirements of our mortgage professionals
How do I make payments for the availed mortgage services?
We have registered offices across different parts of the world, including the US and UK. Therefore, we provide you with the privilege of wiring out your payments to our US bank account, which can be paid through Paypal or can also be made by sending across checks to our registered US bank account.
What are your shift hours and how can we keep a control over that?
Our working hours are totally flexible and are designed to strictly match the requirements of the client. As we can provide our clients with 24/7 operational support, you can use our services to increase the working hours to reduce the overall closing time.
Next, to help you gain total control over the process, we ensure uninterrupted communication with the in-house staff through regular weekly/daily reports and timely conference calls. If there are any changes in process, even minor, we will implement them only after the client approves them. In this way, even if the mortgage specialists are not at your office you will have control on the overall process.
Do you follow any data security policies?
We are an ISO 9001:2015 certified company and stress on data privacy and security. All the client data will always reside on their servers, as we do not download and host anything locally. Furthermore, our physical data security measures are also rigid and include the use of bio-metric accesses, disabling external storage devices from the systems, and using only white-listed internet access.
How can you benefit by outsourcing your mortgage requirements to us?
Although the benefits offered by outsourcing mortgage services are numerous, following are some of the major paybacks that are worth considering -
- Flexible scalability, where projects can be scaled-up or scaled-down based on your requirements
- Measurable and reliable outcomes which can be easily controlled
- Highly efficient, streamlined operations that help you achieve superior customer experience
Get Efficient Mortgage Services by Outsourcing to O2I
Outsource mortgage services to O2I and cut through the competition with our efficient services. We provide accurate, reliable, and affordable mortgage services, which help you to easily outrun your competitors. If any of your queries are not addressed in the following FAQs, then please feel free to get in touch with us.