Mortgage Settlement Services
Order Entry: – Review the Purchase & sales agreement, validate the information and update the application adequately. Also, Send the welcome package, issue the wiring instructions, and add the correct action, curatives, and partners.
Pre–Closing: – Our Pre–closing support services ensure to reduce the chances of loans facing rejection due to the submission of erroneous documents. We methodically review the loan estimate, closing disclosure, escrow statements, government–mandated documents, Payoffs, Search copy, title commitment, and promissory notes which are a part of the loan closing package using multi–step review processes.
A few key fundamentals that we provided with our services a Mortgage – Title and settlement agent.
- A team of highly experienced mortgage professionals with wide experience in title and
- Services designed to match Fannie Mae, Freddie Mac, and compliance requirements
- Well–established QC parameters to guarantee 99% accuracy
- Multi–tier checks of loan closing packages
- Flexible work culture and far–reaching adaptability to client requirements
Closing: – Mortgage closing is a complex process. It involves providing a closing disclosure document. This document details the entire transaction, including a breakdown of the closing costs and fees. The two things that lenders or credit unions need to be careful about at this stage is to ensure accuracy. They must ensure delivering it three days prior to the day of signing of the mortgage. The rigidity of the new rules and the steep costs imposed on violators, calls for a more careful approach in discharging their duties. On the basis of criticality, All the steps have to be followed in chronological order and those are as follows:
On the basis of criticality, All the steps have to be followed in chronological order and those are as follows:
- Obtain and review the closing documents
- Review the property title
- Prepare the closing instructions
- Share the lender Package
- Deliver final Package to the lender
- Schedule the closing
- Prepare Closing package
Post-Closing: – In the Post-closing process, the closed loan package is monitored to ensure all trailing documents are gathered and processed and all investor guidelines (tax, insurance, etc.) are met for loan salability.
The critical tasks performed in the Post–closing are as follows.
- Set up checks and funds
- Balance the CD
- Prepare recording package
- Reconcile the outstanding checks
- Zero balance escrow account