Outsource Second Mortgage Loan Processing Services

Expert Mortgage Assistance has over 10 years of experience in providing comprehensive back office support with second mortgage loan servicing to mortgage lenders. Our services enable you to provide the benefits of subordinate mortgage arrangements for borrowers while their original mortgage is active. From HELOC to Standalone and Home Equity Loans, we adopt a systematic approach to verification of loan documents and to the calculation of the combined loan value and the equity value of the property. In the process we help you approve second mortgages that are GSE guidelines compliant.

As an expert second mortgage loan services company, we bring an ideal mix of knowledgeable mortgage professionals, cutting-edge technology and tried and tested industry practices with our services. We enable you to build a high-quality mortgage process delivery model for second mortgages while ensuring fast turnaround times. Outsource second mortgage loan services to us for a comprehensive solution.

Our All Inclusive Second Mortgage Loan Services

Pre-Qualification

Our main focus in the prequalification step of the second mortgage loan approval process is to gather accurate information of borrower income and debts. We enable you to get a good understanding of the borrower's ability to pay back the loan so that you can make well-informed decisions at the time of loan approval. We gather and verify all details like borrower employment status, credit scores, property ownership history, outstanding liens etc to determine the LTV for the loan. We also provide the estimate of the equity value of the property in the prequalification steps and record the same into the borrower file.

Loan Processing Services

We collect all vital customer information like the name, social security number, loan amount required to prepare the loan estimate along with loan application documents such as W-2 forms and form 1003. After completing a detailed verification of these documents, we estimate the interest rate, monthly payment requirements and the costs of taxes and insurance to determine the estimate of the second mortgage loan and dispatch the same to the customer to receive their intent to proceed.

Property Appraisal

As an expert second mortgage loan services company, we provide you with back office support with the property appraisal process as well. From ordering to the scheduling of the appraisal, we work closely with the appraiser to accurately estimate the fair market value of the property. We assist the appraiser with the research and collection of property data and verify the appraisal report to determine the quality of the approach used in in the process. Our in-depth understanding of the cost, comparison and income approaches of property appraisal enable us to determine the quality of the appraisal process well.

Loan Underwriting

We put together the loan package comprising of verified documentation and dispatch it to the underwriter. Our multistep document review system and use of document management software ensure that the underwriter is working with completed information at all times. Our focus on quality ensures that the underwriter does not have to send the loan file back after flagging it for missing information. We add value to your second mortgage loan underwriting process with our attention to detail.

Loan Closing

We compile the closing disclosure which contains the final details of the second mortgage loan of a borrower. We include all details like loan estimate, payment terms, the rate of interest, loan amount sanctioned and disclaimers in the loan closing package. After validating all the information included in the package we dispatch it to the customer along with documents that require their signature.

Why Outsource Second Mortgage Loan Services to Expert Mortgage Assistance?

We are a team of mortgage experts who have diverse experience of servicing a wide variety of mortgage loans. Our second mortgage loan services provide you with back office support for all your requirements- from loan origination to underwriting and closing. We leverage software suites and well-designed workflows like a multi-tier document review system to digitize information onto your CRM systems. Our services also significantly bring down the risks associated with the standard second mortgage loan approval process. We adopt concise methods to determine the equity value of the property during the appraisal process, ensuring that nothing short of high quality and verified information reaches your underwriter at all times.

Here are some of the many benefits that you get by choosing our services:-

• A team of 1000+ mortgage experts with diverse exposure to servicing a wide variety of mortgage loans
• Robust back office support with second mortgages beginning from loan origination to closing
• In depth review of customer eligibility requirements like credit scores, employment history and property information
• Comprehensive back office support with property appraisal and loan underwriting process
• Services that match with regulatory compliances of both GSEs
• Robust data backup and support
• Back office support with HELOC, home equity loans, piggy back loans and standalone second mortgages
• Flexibility to ramp up productivity by up to 50% under high workload