BACK OFFICE SERVICES OFFERED
- Loan Modifications
- Short Sales
- Deed in Lieu
- Consultations
YOU WILL be responsible for
- obtaining the pre-qualification information from the homeowner
- providing the homeowner with service contracts, agreements and
lender appropriate forms
- gathering hardship documents from the homeowner
- forwarding all Client documents via your Production Manager
WE WILL
- handle Quality Assurance which includes pre-qualifying (internal process)
- processing the packets
- expedite requests with the lender
- finalize all client docs and submit them to the lender
- follow up with the lender
- negotiate and finalize all mitigation requests with the lender
WE DO NOT handle legal matters such as (but not limited to)
- a home being foreclosed on in error
- mortgage payments posted into suspense and forced a borrower into foreclosure
- borrowers who are more than 12 months delinquent on their mortgage
* We recommend legal issues such as this be handled directly with an experienced real estate or mortgage attorney.
STEP 1.0 PRE-QUALIFICATION PERIOD
Don't dismiss that questionable request just yet. We offer FREE pre-qualification consultations, We generally do not accept files that have an auction schedule within two weeks of submission. Some exceptions may be considered.
STEP 2.0 PROCESSING PERIOD
Once the client has decided to move forward, the remaining financial documents are obtained and processed within our system usually within 24 hours.
STEP 3.0 QUALITY ASSURANCE PROCESS
Each file is put through a Quality Assurance process. This ensures requests are clean, accurate and precise according to detail and to lender guidelines and expectations.
STEP 4.0 WAITING PERIOD
We contact lenders on each file roughly every week to follow up on status until a decision has been received. Depending on the lender, the typical waiting time is 4 to 8 weeks.
STEP 5.0 SETTLEMENT PERIOD
We make every reasonable attempt to finalize agreeable terms and conditions on behalf of the homeowner. Not all homeowners will qualify. Many files are approved with the lender based on lender specific guidelines - exceptions have been noted. We cannot guarantee what the lender will or will not do we can however guarantee complete satisfaction of facilitating the process.
STEP 6.0 LENDER APPROVAL OR DENIAL
Once the lender has approved a request, the offer is mailed directly to the homeowner for review and signature. We typically know about the terms via phone contact with the lender prior to the lender mailing the offer.
If a lender denies a request, depending on the circumstances, we typically re-work the file by updating financials, hardship or what ever may be required according to the lender. There are usually three attempts made before closing out the file.
For further details including fee schedule etc.
