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The Mortgage Banking Process is a cyclical process and therefore does not have a starting or ending point.

"Mortgage Banking includes The Origination, Sale and Servicing of mortgage loans secured by either residential or commercial real estate"

The processing stage consists of requesting, collecting, and submitting all supporting credit documents to the mortgage banker for approval.
I-Del Solutions processor will ensure completed loan application is verified and the supporting documents like income and asset information, "Pulling" a credit report and obtaining property documents for underwriting.
We gather information and take each file from Pre-approval to closing. We do all types of loans (Conventional/FHA/VA and USDA) and have trained our Processors to do both Wholesale and Correspondent loans. .

Mortgage Loan Process

The analysis of the risk involved in making a mortgage loan to whether the risk is acceptable to the lender. This is an evaluation process that considers both the creditworthiness of the borrower and a review of the property being used as collateral for the mortgage loan.
The four "Cs" of underwriting are
Capital
Capacity
Character
Collateral
.

Approved mortgages are sent to the closing department where the loan documents are prepared for signature by the borrower. Closing is the signing and recording of loan documentation, plus the disbursement of loan funds.

Prepare settlement statement which is the final accounting of all the costs, credits, payoffs, pays on accounts required by the lender.

Calculation of funds required for closing or that the borrower would receive.

A title is a legal document establishing the right of ownership of a specific piece of property, and it is recorded to make it part of the public record. It is also known as a Deed. We have both the experience and the expertise in providing mortgage title search services to mortgage companies.

We are fallowing three processes the Title Company completes before issuing a Preliminary Title Report.

Verify information about the property.

Chaining; the Title Company builds a chain of title.

Examine each document in the chain of title.

The Preliminary Title Report and the Title Commitment provide essentially the same information. However, the format of each document is different. The Preliminary Title Report is not a policy of title insurance. It is only an offer to issue a policy of title insurance in the future, subject to the stated exceptions and conditions found in the Preliminary Title Report, as amended and updated up to the closing.

Appraisal Report contains the appraised value of the real estate for which the borrower is to be granted a loan. This report is provided by certified Appraisers.
We have a appraisal review team is one of the more resource-intensive tasks performed during the course of the mortgage process. The experienced underwriters at i-Del Solutions closely review every appraisal to help ensure that the collateral is adequate for the mortgage and that there are no critical issues with the property that would affect its value.
We order and review below streamlined appraisal reports in a manner sufficient with the underwriting expectations of Fannie Mae/HUD.

Single Family Forms
1004 Uniform Residential Appraisal Report
2055 Exterior-Only Drive-By Appraisal Report
2075 Property Inspection Report
1004MC Market Conditions Addendum to the Appraisal Report
1004D Appraisal Update and/or Completion Report
Condominium Forms
1073 Individual Condominium Unit Appraisal Report
1075 Exterior-Only Drive-By Single Condominium Unit Appraisal
Manufactured Homes
1004C Manufactured Home Appraisal Report
Investment Property Forms
1025 Small Residential Income Property Appraisal Report
216 Operating Income Statement
1007 Single Family Comparable Rent Schedule
Cooperative Property Forms
2090 Individual Cooperative Interest Appraisal Report
2095 Exterior-Only Inspection Individual Cooperative Interest Appraisal Report
Review Appraisals Forms
2000 One-Unit Residential Appraisal Field Review Report
2000A Two-to Four-Unit Residential Appraisal Field Review Report

Agents will be handling below responsibilities as supporting functions
Filling 1003 application through calyx point and Encompass.
Prepare initial disclosures and email to customer.
Ordering the appraisals, Title VODs, VOEs, and Payoff demands, track progress and intimating.
Upload the appraisals to the UCDP portal.
Send out a warning email if the value came in low and creates an increase in the LTV to the loan officer and processor.
Submitting the files to assigned lender.
E-mailing to the loan officer when items are missing based on requirement.
Updating HMDA data in Calyx Point.
Review and organize borrower conditions.
Will work to clear lender condition and follow ups till Funding.
Review Final HUD for compliance.
E-mailing Final HUD and 1st payment notice to borrower.
Upload closed loan files to investor and clearing investor conditions.
Handling as per the client requirement locking the loans and intimating the lock expirations to LO.
All other mortgage related supporting process will be handle.

Lenders Worked For: FlagStar, Plaza, UWM, IMPAC, Freedom, US bank, Provident Funding, EverBank, Fifth Third Bank, Cole Taylor, Inter Bank , NYCB, REMN, Home Bridge, GMAC, Etc