Mortgage Services

Mortgage Services

I-Del team of experts can help watch over all processes after mortgages are in place to efficiently deliver exceptional service at all stages of a loan. Mortgage services companies are looking to staff optimally and handle this dissimilarity without mounting the fixed costs proportionally. All this has to be done while adhering to rigorous regulatory controls and plummeting costs through process consolidation and enhancement. We deliver comprehensive end-to-end mortgage loan processing and other mortgage services to US customers.

The primary responsibilities of loan setup team are to board the loan information in to LOS, orders third party items and prepares the mortgage file for processing. Loan set-up team responsibility is to assist loan process by ordering and tracking required loan documents such as appraisals, title commitments, and insurance policies and provide support to loan officers and processors. Once ordered documents are received, ensure that Reviews borrower documentation in accordance with department standards for completeness, accuracy and consistency identifying defects for correction. Also the team has to review file documentation and make sure all items needed are requested within the timeline. The main responsibilities of loan set-up team is to -

  • Runs various property validations (USPS, property profile) and data validations
  • Provides pipeline oversight to ensure tasks are completed within SLA's and production standards
  • Order all the third party docs.
  • Integer rhoncus hendrerit sem egestas porttitor
  • Indexing of documents.
  • Regular follow-up for the documents
  • Communicate with all parties in the transaction to obtain necessary documentation in a timely manor

2. Pre-processing

Pre-processing is the loan processing supporting function which helps the processor receive clean file with accuracy of information. The main tasks of pre-processor/Jr. processor is to -

  • Review 1003
  • Prepare and review initial LE
  • Generate disclosures.
  • Order Payoffs/ /HOA/ and all other 3rd party documents
  • Prepare and review documents necessary for closing
  • Communicate with all parties in the transaction to obtain necessary documentation in a timely manor

3. Mortgage Loan Processing

I-Del Solutions is providing core loan processing services to its customers with highly trained and knowledgeable processors. Having quality resources in the team, we are able to process and close the file within 21 days from the file received date. Our processor Works closely with loan officers and pre-processor and will ensure all documents are obtained for underwriting submission, calculate income, read credit reports, analyze bank statements and aggressively clear conditions with a 24hr response time. As a Processor, we have the vital role of being the contact for borrowers to obtain all necessary documentation prior to submitting the documents to underwriting. We will submit loans to closing and clear all processor funding conditions prior to funding. Our processing team follows the below steps to ensure the closing takes place without any hurdles -

  • Collect and collate all the information needed to approve a loan and make informed decisions concerning an application.
  • Input that information into the lender's LOS
  • Verify information through documents received from borrower.
  • Make third-party checks with credit bureaus, employers, accountants and so on
  • Order an appraisal of the home
  • Obtain title docs and flood insurance (if needed)
  • Issue the disclosures
  • Ensure the compliance of your case with regulatory requirements and internal policies
  • Work on UW approval
  • Order the final loan documents
  • Ensure the loan stays on track to close on time
  • Schedule appointment for closing

It's one of the important functions in loan processing. Ordering and gathering of third party documents within the stipulated time is the responsibilities of loan processor. In order to have the smooth functioning of loan processing, various companies consider this as a separate functionality.

Its more time consuming as it involves frequent follow-up on daily basis. Any delay in ordering and gathering of third party documents such as VOE's, payoff, HOI or appraisal etc; would leads to delay in closing the deal. Our expertise team will ensure the documents are ordered and gathered within the timeline.

5. Appraisal Review

Evaluating a residential appraisal is an important step in the loan process. Facts, figures, value estimates, property types, location, guidelines and forms all require your close attention. But it goes beyond that, for evaluating an appraisal is not an exact science. You need to use your experience, expertise and good judgment to evaluate and confirm that the property value is supported.

An appraisal report describes a property and estimates its value. The value estimates of the appraisal must be derived from logical appraisal methods that consistently reflect the property's condition and characteristics.

The Appraisal Analyst, here in I-Del Solutions will be a member of the Collateral Risk Management Team. In this role, Appraisal Analyst will make decisions on collateral as a function of the Bank's due diligence, as it pertains to risk exposure on residential real estate.

What we do?

  • Ensures the accuracy and compliance with property value appraisals and ensures the values of the property and the mortgage loan is consistent.
  • Reviewing appraisals to identify errors or discrepancies
  • Conduct reviews of appraisals and other valuation products, this will include Owner occupied or Tenant Occupied, Single Family, Condos and PUD units
  • Communicate with Appraisal Vendors to obtain clarification and additional supporting explanations and/or data as deemed necessary.
  • Determine if the appraisal adequately addresses a wide variety of issues that affect property values, such as size, location, market conditions, and physical property condition
  • Improvement in the property: check for the Images of property, restored amenities and deficiency
  • Review the comparable approach of the property

6. Quality Check

Organizations with a commitment to quality control recognize that quality begins before an application is taken and continues throughout the entire mortgage origination process. The purpose of a quality check is to monitor and evaluate the accuracy of the information gathered. This would helps the lender or broker to correct any mistakes or error before the files move to the next level. It is a review of a loan prior to funding or closing. Quality check ensures that the loan isn't funded until potential issues are addressed and resolved while problems can still be corrected.

QC review should be performed by someone outside the origination process or someone who does not have a direct interest in the loan closing.

Verifications and checks are conducted on a loan to ensure that data in the loan origination system is accurate, credit policy and compliance policy has been followed, and to protect against fraud. We will follow client specific checklist or workflow to accomplish the QC review.

7. Initial Disclosure Review

When the borrower applies for a mortgage loan, the lender is required to provide with initial loan disclosures within three days of application. These disclosures are not meant to convey the final terms of the transaction, but to give a realistic look at what the borrower can expect in terms of costs, monthly payments and loan structure.

Our expertise will follow the standard checklist to audit the disclosure before it delivered to borrower.

Once the loan is approved, the file is transferred to the closing and funding department. Mortgage Closers assemble, prepare and review critical closing documents for mortgage loans. They work with the individual or company applying for a loan to walk them through all the necessary steps. If the mortgage loan is approved, the Mortgage Closer coordinates the closing process to ensure that all documents are correct and all terms of the loan are met. Mortgage Closers are usually employed by banks, homebuilders and financial institutions.

The Mortgage Closer will perform high level of clerical and administrative support tasks reviewing loan documents in preparation for closing and funding the mortgage loan.

What we do?

  • Prepare Closing Documents

    • Mortgage Closers are responsible for preparing all loan-closing documents, and ensuring that they are accurate in order to have a fully compliant mortgage loan. They carefully review all documents for any errors, and confirm that pricing and program are correct to insure loan will be funded. Prepares closing packages and forward to Title Company upon internal approval and then, Verifies and enters closing information into the loan origination system, sends closing instructions to settlement agents and accurately prepares the Closing Disclosure


  • Review Documents

    • Mortgage closer will review CD, Case Number Assignment, Title Commitments, Insurance Policies, PMI Certification and all loan documents for accuracy. And we will verify underwriting documents for completeness and accuracy


  • Act as Point of Contact

    • Mortgage Closers are the intermediaries between all parties in a real estate closing transaction. They communicate with applicants, attorneys, closing agents, and vendors to answer questions and resolve any issues. They communicate with title companies to gather all necessary information for accurate document preparation, and coordinate delivery of the documents before closing.


  • Coordinate Closings

    • Mortgage Closers coordinate the smooth running of the loan closing proceedings and ensure all loans are closed in a timely manner. They communicate with the Title Company to set up a closing schedule, and then communicate that schedule to the borrower and help prepare them for the closing. At the closing, they deal with all parties involved to resolve any problems.


  • Ensure Compliance

    • Mortgage Closers review all closing details to ensure compliance with state and federal regulations. They also make sure that all terms of the loan are met. They work with borrows and title companies on any outstanding closing conditions required to fund the loan Finally, we will make sure the closing takes place smoothly without any hurdles.