How do we help brokers at Parker and Associates Mortgage Processing, processors for your mortgage needs.

They Shorten closing cycles

LoanAssist.com, LLC uses a Rapid Processing System that was designed from the ground up by trained processors, and a computer programmer. The purpose of the Rapid Processing System is to get loans into process as quickly as possible so that the time consuming parts of the loan are taken care of in the beginning. When we receive a loan, it is sent first to data input where the following is performed upon each new file within 24-48 hours:

The file is input into our computer system, and ratios are checked for submission.
All verifications are ordered and recorded.
Title work is ordered.
Appraisal is ordered if it has been authorized by the loan officer.
Survey is ordered if authorized by the loan officer.
Home owners & condo certification are ordered.

Next the file is looked at by a trained loan processor who generates a missing items list of anything that may be missing from your file, or any questions that we may have. The missing items list is then faxed to the loan officer for review. So within 48 hours all time consuming pieces of the file have been ordered, and the loan officer has a record of what has occurred, and anything that is needed for the file. From this point your processor will track all pieces of the file to ensure that they are delivered to us on time, we will submit the file to the investor, meet any pre-closing conditions, and schedule the closing. Our tracking system, and experienced processors are the keys to helping get loans closed faster.

Increase the percentage of loans closed

Increasing the percentage of loans closing for brokers is a two fold process:

First our processors pre-screen the files prior to submission to a lender to make sure that we have a good chance of getting the file accepted by the lender at the rate your borrower is looking for. We have found that early intervention is the best way to head problems off. If we see a problem we will contact you right away to get it resolved. Our goal is to keep the loans moving so that your borrower does not have time to "find a better offer".
The second line of defense that we offer is a solid set of "backup lenders" that we have established. Many times when a loan is declined, or there are problems with a loan, an alternate lender is needed to step in and get the loan closed fast. Because we generate a tremendous amount of business for lenders, we are able many times to call in favors and get loans closed quickly.

Increased borrower satisfaction

By providing better and faster service to your borrowers we help to increase borrower satisfaction. Our goal is to minimize problems by processing the loan as quickly as possible, being realistic about deadlines, and providing an accurate picture of closing costs and terms to loan officers. By providing accurate information to your loan officer to review with the borrowers prior to closing, we hope to minimize confusion that sometimes arises at closing. We do this by updating the good faith estimate with payoffs and new income information as it arrives at our office. An updated good faith estimate will be available to the loan officer prior to closing so that there are no last minute surprises If the loan officer takes advantage of this resource, your closings will go smoother, and you will have happier customers who should refer you new business.

Reduced broker overhead

Outsourcing your processing can help in many ways to reduce your office expenses:

You don't need as much support staff at your office.
You will save money on salary, insurance, workman's comp. etc.
You will use less office supplies.
Need less physical office space.
Don't have to pay for processor training, management, or advertising for new processors.
If business slows down you don't need to pay for resources your not using.

As the cost of keeping good processing staff rises, and the need to keep a steady flow of loan closing outsourcing has become a way for brokers to stay competitive. By structuring our business to assist you with the goals of getting loans closed as quick as possible we have created a system that has helped many brokers and banks find profits that they had been losing through traditional processing systems. With us, you are assured of high quality, highly motivated processors without the expense of paying for dedicated staff. Count on us to grow with your needs, and to understand when times are slower and you have less files for processing. We are here to help, so get in contact with us so we can assist you with your goals.

Toll Free (866) 418-3472 or E-mail us