Mortgage Business Process Outsourcing Services USA

Expert Mortgage Assistance (EMA), a division of the Flatworld Solutions group specializes in providing end-to-end mortgage BPO services to lenders and financial institutions in the USA. We have over 10 years of experience in handling critical services such as mortgage processing, underwriting, closing, post-closing, title and loss mitigation services for our clients. We bank on highly trained mortgage professionals with years of exposure in the industry and the most advanced technology to steer the mortgage processes for our clients.

Our Mortgage BPO Services for Lenders

Mortgage Processing Services

Our holistic mortgage processing support service include document compliance review, credit check, reviewing third-party documents, verification of borrower’s background, ordering VA and FHA case numbers, loan estimate preparation, collecting supporting documents such as bank and mortgage statements, escrow documents, divorce decrees, among others, and loan submission and condition clearing. We follow a well-defined mortgage process in BPO to accelerate loan closure cycles, thereby allowing lenders an edge above their competitors. Our cross-skilled staff helps lenders to accommodate about 50% more work volumes even during peak hours.

Mortgage Underwriting Services

Our end-to-end mortgage underwriting services cover assessment of loan clearing conditions of borrowers, title review, appraisal review, and fraud review. We use a range of automated underwriting systems and software to deliver underwriting services in real-time and aid lenders in making decisions in an instant about a borrower. We have expertise in both Freddie Mac’s Automated Underwriting System (Loan Prospector) and Fannie Mae’s Automated Underwriting System (Desktop Underwriter). We implement the gold-standard best practice of placing notes in the LOS to support each resubmission of loans.

How MSuite Helped Our Clients Accelerate Loan Closing Times During the Pandemic

Mortgage lenders banked on our proprietary tool MSuite to navigate the Covid-19 crisis with complete flexibility and scalability. The OCR-based tool assisted them in automating several back-office processes including document indexing, data extraction and manual stare & compare. The tools inbuilt features like easy integration with leading Loan Origination Systems and unique workflow customization assisted lenders digitize a major part of their work process in quick time.

With the help of MSuite, we assisted our clients automate the following:

• Document indexing
• Loan pre-qualification
• Data extraction
• Document submission and verification
• Data validation
• Integration with third party portals for pull/push of data/documents

The MSuite Advantage:

• Trained to identify 450+ types of mortgage documents
• Processes several million pages of mortgage documents every month
• Pre-defined data extraction capability of 500+ data points from 30+ documents (this can be expanded to other documents/data points as required)
• 98+% of guaranteed accuracy
• Up to 60% cost savings when compared to manual cost of operations

See here how MSuite works:

Mortgage Closing Services

We cover all the stages of loan closing process that include collection of mortgages closing documents, property title review, closing instructions statement preparation, coordinating with settlement companies, dispatching closure documents, coordinating with banks to secure closing costs, review payoff statement, HUD statement preparation, and a pre-closing audit. Our post-closing services entail trailing document retrieval, assembling post-closing mortgage loan package, carrying out post-closing data integrity audit, and register approved loans with Mortgage Electronic Registration System.

Title Support Services

Our comprehensive title support services include title ordering, title examination, title commitment, final policy production, aid lenders to order insurance for the property, and settlement and closing services. We guarantee 99% accuracy in reviewing title documents to protect lenders’ interest. We are well-equipped to scale up to your operational needs, big or small, with a flexibility to scale our work up to 50% during peak hours.

Mortgage QC Services

Our mortgage services BPO includes quality check services. We do QC services for pre-closing, underwriting, post-closing, besides risk and data quality analysis. For our pre-closing services, our QC functions range from ensuring an appropriate completion of loan application forms like form 1003 and W-2 to verifying credit reports, payment history, FICO reports, and employment verification of employment. Our underwritingQC services entails assessing borrowers’ payment history and other factors independent of their credit score or traditional risk-based pricing criteria. Our post-closing qc includes an independent review of borrowers and their property documents to ensure better security prior to releasing the loan amount.

Mortgage Appraisal Services

Our mortgage appraisal services cover functions such as appraisal ordering, review, aid lenders with broker price opinions, and comparative market analysis. We strictly conform with Appraiser Independence Requirements, Dodd-Frank Act, the Interagency Appraisal and Evaluation Guidelines, and the Federal Reserve Board Interim Final Rule. Our service delivery framework for appraisal form filling and report generation is in strict adherence to the appraisal guidelines of Fannie Mae/HUD.

Default Management Services

Our all-inclusive default management services include collections and repayment services, loan modification and short sales, disposition and asset management services, claims processing, and end-to-end home retention and liquidation functions. Our team of over 1000 highly skilled mortgage experts execute document management and report preparation with a deep focus on quality. We leverage advanced CRM systems to maintain accuracy in keeping records of customer payment histories, property information, and other supporting documents.

REO Services

Our comprehensive REO services cover reimbursement, valuation, administrative, bank registration, and other customized REO solutions. We maintain strict quality standards while processing and submitting bills, managing documents, and deliver service packages that include tax and title review of the property. We aid lenders for a seamless beginning of foreclosure sales and assist with market strategies to facilitate an expedited asset liquidation for recovery.

Mortgage Loan Setup Services

Our complete mortgage loan setup services cover loan document management, loan packaging and review, title support, appraisal ordering, and fraud review. Our service delivery framework is an amalgamation of gold-standard industry practices, utilization of advanced CRM suites, and a linear review process, that allows us to undertake a no-compromise approach while verifying and maintaining documents which also eliminates business risks.

Mortgage Automation Services

Our robust mortgage automation services drive a gamut of critical mortgage processes which are loan origination, underwriting, loan processing, appraisal, and loan closing. Our in-house built tool, MSuite automates the process of data extraction and document classification. This tool is developed for an accurate identification of scanned and printed text and transform it to structured digital data. This negates the need to manually sort and enter data from multiple document formats.

Mortgage Dashboard Services

Our comprehensive mortgage dashboard services include developing custom dashboard, Klipfolio dashboard, and Tableau dashboard. Other dashboard services that we provide are dashboard integration, modification, consultation, and training and maintenance. We follow a well-defined process flow to develop dashboards that include steps which are requirement study, analysis, design, testing, and delivery. We develop customizable and easy-to-use dashboards to help clients get an in-depth and quick insights into the emerging industry and accelerate their decision-making process.