Modification Underwriting Support Services
Mortgage is one of those financial services that often require rigorous efficient back-office processing. Mortgage modification underwriting is one such back-end task that requires uncompromised accuracy, efficiency, and an eye for detail. Often, carrying out these tasks becomes demanding for mortgage companies and hampers the overall efficiency of their operations. It also impacts their business growth; sometimes due to the absence of experienced loan modification underwriters, time and budget constraints, or administrative hassles.
For this reason most of the mortgage lenders prefer outsourcing their modification support so that they can concentrate on stabilizing and expanding their businesses. Outsource2india is one company, which can help you cope up with all your mortgage modification underwriting support services. Once you outsource your mortgage underwriting support to us you will be able to reduce the burden of processing mortgage and will be able to save considerable amount of operational costs.
Types of Mortgage Underwriting Support We Offer
Outsource2india has been providing quality services to global clients for almost two decades now. We provide you with virtual modification underwriters who can modify the loan amount, interest rates, loan period and principal amount based on specific modification programs. We provide modification underwriting of mortgages under Home Affordable Modification Program (HAMP) and non-HAMP mortgages. Some of the key services we offer include -
We have the required expertise and resources to provide our clients with loan modification support services. This includes reviewing documents, soliciting borrower's financial information, completing modification fulfillment, mailing final modification packages, etc.
We at Outsource2india cover a wide range of loss mitigation support services, which include document processing and other complex processes that require deep analysis and borrower outreach.
Our team at Outsource2india has the required resources to efficiently carry out all the necessary foreclosure procedures. This includes property evaluation, attorney management, pre-foreclosure evaluation, contract negotiation, remediation management, closing facilitation, etc.
We have some of the most proficient loan negotiators on board who are capable of negotiating all kinds of loans and providing our clients with the best deals possible.
We have a dedicated team of quality checkers who can verify all the necessary documents and other details of the entire mortgage process. Some of the key aspects commonly reviewed and verified include -
- Applicants' forms
- Checking for fraudulent claims and documents
- Homeowners' credit history, debt-income ratio, and repayment capacity
- Checking for compliance with statutory regulations and guidelines
- Review of income statements of the borrower to assure creditworthiness
- Quality check for mortgage modification services
- Verification and approval of loan modification and mortgage underwriting plans
Loan Details Modification
Mortgage loan modifications involve a lot of permanent changes that need to be incorporated into the existing mortgage schedule. We provide efficient modification of such details and update the changes accordingly. Our loan details modification services are used for updating -
- Interest rate
- Loan tenure
- Monthly payment amount
- Delinquent home loans
- Reduced default rates
Modification Underwriting Support Process We Follow
We believe in providing our clients with the best quality services that are quick and cost-effective without compromising on the quality. We achieve this by following a systematic and streamlined process that involves the following steps -
- Gather information about the borrower from the loss mitigation department
- Analyze the borrower's program eligibility according to the normal standards
- Review the borrower's application in advance
- Create the first loan modification package
- Conduct the basic loan modification underwriting
- Get the package approved by the client
- The final offer is then presented to the client
Benefits of Outsourcing Modification Underwriting Support Services to Us
Great customer experience guarantees client satisfaction, which is the most important aspect for us at Outsource2india. We ensure that our customers are satisfied with the services they avail with us. By partnering with us, you can get the following benefits -
Highly Skilled Team
We have a well-experienced and highly skilled team of mortgage specialists who are capable of providing our clients with the best services within the stipulated time
Our high-quality underwriting support services are highly cost-effective and help clients to save valuable time and costs of up to 45%, without compromising on the quality
We follow strict data security policies and sign confidentiality and non-disclosure agreements to ensure that all your critical data remains completely safe with us
We make use of state-of-the-art tools and technologies, which help us to provide our clients with better, faster and highly-accurate reporting
We provide the best-quality services and assure that our services are compliant with all the legal and statutory requirements
We have a multi-level quality assurance system in place which ensures that there is reduced risk and results are completely error-free
Use of Latest Tools
Our team of mortgage experts is trained to work on the latest and updated tools and technologies, giving us a competitive edge, which we pass on to you
Quick Turnaround Time
We ensure that our services are delivered to the client within a short time through our multiple delivery centers spread across different time zones
Outsource Mortgage Underwriting Support Services to Us
Outsource2india is a leading modification underwriting support service provider in India and has been serving clients for over 24 years now. Our vast experience of having worked with clients from across the globe and different backgrounds has made us capable of handling any kind of request. Our team is well-versed with the functioning of US mortgage industry and has been assisting numerous clients across the United States with their mortgage processing. Apart from providing assistance to Mortgage Processing and Mortgage Loan Modification Services, we also provide Mortgage Closing, Appraisal, Mortgage Title and Mortgage Post-Closing support services. If you still have any doubts over loan modification underwriting process, read our well-researched article that explains All You Need to Know about Loan Modification Underwriting.
If you are looking for a reliable, efficient, accurate, and cost-effective mortgage modification underwriting support service provider, then just get in touch with us today!
Modification Underwriting Services FAQs
What does loan modification mean?
Loan modification is a change made to an existing loan by a lender. It may involve a reduced interest rate, a longer period to repay, a different type of loan, or any combination of these.
Why would you be denied a loan modification?
Lenders may refuse to consider a loan modification request if you have not proved "financial hardship," which can include things like loss of a job, illness or disability, or loss of a spouse.
How long does a loan modification last?
The loan modification will last until the time prescribed in the terms of the loan modification.