In mortgage service, two key areas are considered as most significant - mortgage modification and origination underwriting. When lenders begin assessing the creditworthiness of an applicant, it isn't enough to skim a few pages of the loan portfolio. A company like ours come with various specializations to mitigate lending risks and increase return on origination investment.
At Outsource2india, we are professionals who evaluate borrower's creditworthiness and handle underwriting tasks for lenders and credit unions to meet the regulatory compliance. We handle various back-office functions that will free more of your resources to focus on other key areas of mortgage modification underwriting support services.
Mortgage Modification and Origination Underwriting Services We offer
By outsourcing mortgage modification and origination underwriting support services to an expert like Outsource2india is a way to go if you want to save critical time and money. We have professionals with 8+ years of cumulative experience in a gamut of mortgage services who can accomplish tasks from loan portfolio evaluation to mortgage modification in quick TAT to improve your cash flow. The services we offer are as follows -
We analyze the eligibility of borrowers to recommend a custom mortgage program that is ideal for their financial capacity. We act on lenders behalf to add new clients to your customer base. As part of mortgage origination underwriting support services we gather, review, and furnish documents such as bank statements, hardship letter, stubs, and much more to a certified underwriter. We also analyze the terms and conditions of mortgage that is prepared by the underwriter
HAMP and Non - HAMP Mortgage Modification Underwriting Support Services
As a service subset of mortgage modification, we handle major challenges associated with a short sale, forbearance, deed-in-lieu reinstatement, and payoff. Once you outsource mortgage modification and origination underwriting support services, our professionals will take care of the following -
- HAMP modification eligibility verification
- Investigate borrower's income proof to understand and verify the reported income
- Investigate the credit report of the borrower to evaluate the credit history
- Modify delinquent loans to reduce default level
- Investigate claims history to detect fraudulent claims
- Revise the loan term, the rate of interest, and monthly mortgage payments
- Calculate and issue appraisal report for mortgage collateral
- Underwrite loans on the grounds of financial hardship faced by borrowers
- Recommend modification service ideal for homeowners
- Map Freddie Mac and Fannie Mae guidelines with comparable to ensure accurate modification
Mortgage Origination Underwriting Support Services
When you outsource mortgage loan modification and origination underwriting many permanent changes are to be reflected in the existing mortgage schedule. We handle the process as follows -
- Evaluate borrower portfolio according to FICO requirement and submit a financial summary
- Accurate assessment of loan collateral
- Accurate evaluation of credit ratio, loan-to-value, debt-to-income etc.
- Assessment and segmentation of borrowers based on their risk profile
- Review the title, borrower's note, and public records under credit report
- Inform borrowers about the decision taken by lenders including the reason for rejection if unapproved
- Verify loan application and source additional documents if required
- Initiate underwriting quality control to ensure correctness of the output produced by automated underwriting tool
Good Underwriting - You Can't Live Without It
Without doubt, one of the most important components of your company's loan origination process is the mortgage underwriting piece of your operations. Your company's overall success depends greatly on the quality of your underwriting staff and how easily each file flows through your company's individual loan origination system. Speed and accuracy are the key, yet quality and integrity can never be compromised. Proper underwriting is the necessary underpinning that provides the "checks and balances" for a healthy mortgage market, insures long-term company success, and guarantees complete satisfaction to your customers.
Is your Underwriting Staff Hitting the Mark?
The secret to achieving efficient mortgage underwriting lies in your firms' ability to hire, train, and manage a pool of competent, experienced, and motivated mortgage underwriters. In this age of Automated Underwriting Decisions (AU), one might underestimate the value of an experienced mortgage underwriter. However, no automated underwriting system can replace a well-trained loan underwriter.
An expert underwriter must be knowledgeable and up-to-date about all types of government and conventional loan products. Additionally, he/she must also understand the expectations of stakeholders and investors, institutional and secondary lenders, as well as being acquainted with the needs and requirements of mortgage insurance companies, credit bureaus, and escrow, and title companies. While working on a loan file the loan underwriter must seamlessly reflect the marketing image, values proposed by your company's marketing/sales team and the orientation towards customer service.
We Provide "Bullet Proof" Origination Underwriting Assistance
Lack of quality underwriting can potentially lead to significant losses caused by miscalculated risks, which can further lead to borrower default. Moreover, poorly underwritten loans can open the doors to ongoing liability in the form of legal recourse, or loan repurchase demands from investors, government agencies, and even borrowers.
Therefore, it is critical for your business to outsource your company's mortgage loan underwriting to a reliable mortgage underwriting support company, as quality underwriting is vitally important for your company to grow and succeed in the competitive industry.
Good Underwriters are (No Longer) Hard to Find
By choosing to outsource your mortgage loan origination underwriting process to Outsource2india, your company will gain unlimited access to a battery of well-trained, knowledgeable, and motivated underwriters. You can rest assured that each of your important loan files are in capable and experienced hands. Our top down management approach insures that all pertinent underwriting policies and regulations are applied uniformly and consistently over each loan file processed. Also, our seasoned underwriting staff members are aware of which details are important for making good loans, thereby making your job easier.
We can seamlessly merge with your Loan Origination Software (LOS) with real-time feedback and interaction on every loan. Correct interpretation of the qualifying data submitted combined with strict attention to input accuracy makes for a better end-result. Our philosophy is to make sure that each step of the process is done right at the first time, so that all parties involved "touch the file" as little as possible with the goal of reaching the desired loan decision at the earliest.
Mortgage Modification and Origination Underwriting Process We Follow
We are a team that believes and preaches service transparency. It is our concern to ensure you feel satisfied working with us because we turn every dollar you spend into measurable results. Here is how we transform your valuable investment into reliable mortgage modification service from inception to completion -
01. Requirement Analysis
We work with your team to gather borrower data and analyze the portfolio for eligibility verification
02. Requirement Review
We evaluate the reports from analysis to check if the portfolio matches the lender's criteria before the creation of first loan modification package
03. Mortgage Modification and Underwriting
We execute the loan modification process along with origination underwriting that adheres to regulatory compliances
04. Client Approval
The output from the project is sent for lender's approval. Once the lender acknowledges the correctness of the package, we complete the remainder of the project within the stipulated time
05. Post Project Support
We provide timely reports and routine support to allow clients to leverage our services and service loans at a faster rate
Other Services You Can Benefit From
Why Choose Mortgage Modification Services from Outsource2india?
The best part about outsourcing your underwriting needs to us is that you can control the cost of maintaining your optimal pool of experienced underwriters according to your firm's cyclical needs and pipeline demands. No more wild swings of "feast-or-famine" as market demand ebbs and flows with disappointing turns on one month and underutilized staff on another. Mortgage origination outsourcing will empower your ability to better manage your firm's valuable resources, while concentrating only on the rewarding ones. Here is a spectrum of reasons why we are the first choice for many of our clients -
Certified Mortgage Service Company
Outsource2india is an ISO certified company as well as a member of mortgage bankers association (MBA). Our services have been likened to reliability thanks to our stringent adherence to regulatory compliances and local laws
We handle your client's data and financial documents with confidentiality. You can trust our services because we appoint only authorized professionals to access and handle back-office mortgage modification functions
High Accuracy and Quality Service
Our high-quality mortgage modification services are 99% accurate giving you the peace of mind as we compute and review reports for HAMP and non-HAMP services
30% reduction in turnaround time is a standard feature to ensure fast service because it is our goal to streamline your cash flow in the shortest time
Outsourcing mortgage underwriting tasks will allow your mortgage company to scale up or down effortlessly at any time without the difficulty and expense of dealing with too little or too much office space and complicated human resource issues associated with a permanent "in-house" staff
Pocket-friendly Pricing Options
See up to 40% reduction in the cost of operation by outsourcing mortgage modification because we follow a flexible pricing structure that benefits lenders like you with varying budgets
Single-point of Contact
Tired of dealing with rotated representatives? Now, you can choose not to. We assign dedicated professionals who are knowledgeable and aware of the entire project phase. This will help you get real-time updates from a sole source without hassles
Experienced Team of Mortgage Analysts, Underwriters, and Appraisers
At outsource2india, we have employed a sizable team of underwriters, which allow us to serve all sizes of mortgage loan origination centers, from single operator to bulk operations. A knowledgeable representative is ready any time to customize an underwriting contract for your firm
A smart infrastructure is a key to delivering successful solutions. We know this best and have a functional infrastructure where innovation is a routine process. Our successful services are executed in a secure and result-driven way under the watchful eyes of experienced project leads
Secure Data Exchange
Sending project files is easy with secure FTP and VPN. Our file exchange systems are protected by state-of-the-art firewalls that prevent interception and intrusion by external agents
Round the Clock Availability
We offer 24/7 back office support for the project so that you can get in touch with us by phone or email. Get a dedicated time zone support to have your concerns addressed anytime, anywhere
Client Success Stories
Leading Mortgage Lender Experienced 15% Increase in Business with Our Mortgage Underwriting Services
A US-based customer approached Outsource2india, as his in-house team of underwriters was not able to manage the increase in volume. Outsource2india provided him with a dedicated team of underwriters and helped him get business back on track.Read the Case Study
Case Study on Mortgage Valuation Services for a Valuation Company
A valuation company owner experienced a 25% increase in business and 50% cost reduction with mortgage valuation services provided by Outsource2india.Read the Case Study
Marshall & Santosh, Thank you for the meeting today. I wanted to pass along my gratitude to your team for helping with these files. My team and I appreciate your continuous assistance and hard work. You make a great impact on our daily process, and it does not go unnoticed. Please let us know if you need anything! Thanks.Lead Shipping Specialist, Residential Mortgage Company, Utah More Testimonials »
Outsource Mortgage Modification and Origination Underwriting Support Services to O2I - Leader in Mortgage Services
Outsource2india is an ISO certified provider of mortgage modification and origination underwriting support services in India and has been a leader in mortgage services for over 24 years now. Our familiarity with the functioning of the country-specific mortgage industry has allowed us to serve numerous domestic and international clients from around the world. Apart from mortgage modification and origination underwriting, we also provide a gamut of mortgage services such as underwriting support for lenders, short sale assistance, loan modification assistance and more.
Reach us now if you are looking for a reliable, efficient, accurate, and cost-effective mortgage modification underwriting support service provider.