Mortgage Pre-processing Services
Any lending company's primary function is mortgage pre-processing, which is also one of the time-consuming tasks that might cause additional delays farther down the process chain.
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Mortgage Pre-processing
One of the most time-consuming operations that might cause further delays in the process chain is mortgage pre-processing, which is a fundamental function for any lending organisation. An excellent strategy to deal with this slowdown and keep your company focused on expansion and development is to outsource mortgage pre-processing services. In order to change your mortgage lending processes, MJ Tech's mortgage pre-processing services make use of cutting-edge technology, global delivery capabilities, and superior data analytics.
Mortgage Pre-processing Services
LE Form Review
The loan estimate form includes information about each borrower, including loan length, purpose, goods purchased, loan type, taxes applied, insurance, and overall evaluation. Our staff of mortgage service experts quickly and completely ensures the LE form's accuracy.
MERS Check
MERS allows for the tracking of all mortgages that have been approved by organisations such as Ginnie Mae, FHA, Freddie Mac, and Ginnie Mae. By examining the MERS website to see if a borrower has an existing debt or other relevant expenses, our staff can efficiently prepare reports. This data is added to the application, which is then processed further.
CAIVARS Authorization
Applicants must successfully navigate the CAIVARS (Credit Alert Interactive Voice Response System) screening process in order to receive loan approval. Because compiling CAIVARS records takes time, we make sure to prescreen borrowers and confirm that they have no history of missed payments at each stage.
Routine Initial Inspection Services
One of the cornerstones of outsourcing mortgage pre-processing services is mortgage inspection. Our team guarantees the absolute accuracy of the information you supply on all mortgage applications, including GFEs, W2s, paychecks, etc. We promise 100% accuracy and all of our representatives are trained to carry out these preliminary inspections.
Appraisal Orders
Sending an email with the loan application reference and property information expedites the process by ordering appraisals solely from approved appraisers. To avoid any delays, we double-check the payment receipt for the appraisal charge before placing the transaction.
1003 Review
As the first step in the process of obtaining a house loan, all borrowers are obliged to complete the 1003 loan application form, commonly known as the Uniform Residential Loan Application. In order to make sure that only information that has been appropriately submitted moves on to the next stage of processing, we look over all of the 1003 forms and double-check all pertinent information.
IRS Transcript Requests
We make use of the Income Verification Express Service (IVES) programme to quickly verify the borrower's income and contrast it with the information provided in their loan application.
Development of Disclosures
After assisting with the examination of 1003 and the loan estimate form, we use our lender operating system to help create federal and state disclosures, which are then reviewed before being sent online to the borrower or, upon request, by mail.
Rate Lock Services
On a case-by-case basis, we adapt our entire rate lock procedure to meet your needs. Mortgage rate locks are a great way to entice potential home buyers, and we make sure the process goes as quickly as possible.
About us
MJ Tech is home to a group of knowledgeable mortgage specialists who focus on offering thorough mortgage pre-processing services to our international clientele. We expedite the essential procedures and make sure all documentation is ready for federal and state disclosures while working directly with your mortgage brokers.
We provide superior pre-processing operations assistance that ensures a top-notch self-service experience for our clients by implementing a digital-first strategy. Rest assured that the mortgage pre-processing procedure will be streamlined thanks to our commitment on providing excellent and effective services.
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