Mortgage Processing Support for Credit Unions by Industry Experts

As an established mortgage processing business, Expert Mortgage Assistance provides credit unions with fully complying outsourced services. Our mortgage processing solutions are designed to help you grow and expand in the highly competitive mortgage market while lowering expenses and generating more income.

By utilizing cutting-edge technology, the knowledge and experience of licensed mortgage professionals, and first-rate customer service, we are dedicated to assisting you in succeeding. We operate on a flexible, customer-centric business model that provides you with the freedom to select the loan application method of your choice.

Challenges Faced by Credit Unions in Loan Processing

Inefficiencies caused by a lack of human resources are one of the biggest problems credit unions and community banks encounter. Additionally, the tedious mortgage process is exacerbated by the absence of a centralized data system and laboriously complicated spreadsheets.

The two best ways for lenders to organize their disorganized operations are to automate loan functions or outsource mortgage processes to a dependable vendor.

Here are the common obstacles faced by credit unions in their loan administration:

Lack of Data Management

Like many other financial institutions, credit unions struggle to manage their data, which is dispersed across a system of disorderly spreadsheets. Managing multiple tabs for follow ups is difficult. Files mentioned in spreadsheets are tangible files. While an internal expert is familiar with the system, it could be challenging for other reviewers to locate the crucial files when needed. Credit unions are unable to grow their operations or devote their resources to more responsible projects as a result of this additional stage in the mortgage application process.

Lack of Team

When a credit union conducts the mortgage process independently, they either enlist the assistance of loan officers to administer the loan or employ more staff on-site to handle the increased workload. Both times, the employees at credit unions must take time away from their primary responsibilities, such as community outreach, acquiring new clients, and working with businesses, to coordinate the loan needs with individuals seeking assistance.

Outsourcing the mortgage process is a solution that can eliminate the flaws in the system and keep loan expenses under control by doing away with the requirement for a second team. We provide you with the comprehensive benefits of outsourcing your back-office tasks as an expert mortgage processing partner.

Outsource Mortgage Process for Gaining Efficiency and Speed

Credit unions can control their expanding workload and concentrate on their expansion ambitions by working with mortgage processing services. In turn, we offer end-to-end services for all mortgage requirements with specialized underwriting, loan processing, and closing teams.

Here are some reasons why you should plan to outsource mortgage process to a service provider:

Access to Skilled Resources

With a team of certified mortgage professionals, we ensure that all the loans comply with state/federal regulations. These teams can also be scaled up or down to accommodate periods of high and low workload with expert mortgage processing services. Due to our extensive industry knowledge, experts from mortgage service companies like ours specialize in self-management. This guarantees hassle-free processing support, allowing credit unions to utilize their internal workforce and free time for business development and other vital tasks.

Operational Transparency

Companies offering mortgage back-office assistance operate transparently and are to be available to their clients at all times. We also employ a variety of communication channels. As a result, credit unions have total authority over the mortgage process.

Cost Reductions

Credit unions can lower their operational expenses while increasing profits through improved resource planning, by spending less on infrastructure and resources, and disbursing loans quickly. They enjoy these advantages while ensuring their processes comply with all applicable laws.

Improved Quality

Mortgage back-office support companies like ours follow stringent quality control measures. Credit unions can therefore be guaranteed that errors, inaccuracies, or problems that could result in violations won't occur when outsourcing mortgage loan processing. As part of our mortgage processing services, we provide a versatile team of qualified personnel and round-the-clock operations to simplify your back-office requirements. You can put your mortgage troubles in the capable hands of licensed mortgage consultants.

How We Guaranteed Mortgage Process Quality

Expert Mortgage Assistance is a reliable mortgage outsourcing partner for credit unions. We set a stringent review procedure that adheres to industry best practices and guards against simple mistakes and severe compliance violations.

Our QA specialists are well-versed in loan products and crucial papers that complete the loan package. Here are some of the points we touch-based on as part of our quality guarantee assurance:

• Review loans with Hawkeye precision to ensure that all documents are accurate and comply with regulatory requirements
• Review loans for data correctness and consistency with compliance guidelines
• Keep a track of outstanding titles and follow-ups to ensure its receipt within the specified timeline
• Carefully upload all loan files into document storage system in a timely manner
• Coordinate with credit union’s in-house staff in accordance with their service standards
• Stay abreast with latest regulatory requirements and share new changes with appropriate co-workers
• Modify the quality control review program no sooner than new rules are introduced
• Submitting an exhaustive report of review findings to top management

At Expert Mortgage Assistance, we leave nothing to chance. We guarantee top-notch work quality from loan origination to closing.

Why Outsource Mortgage Loan Processing to Expert Mortgage Assistance?

When you outsource mortgage process to us, we provide the following benefits and more:

• Access to 1000+ highly trained mortgage underwriters and processors working fulltime
• 99% accuracy in reviewing all information in the loan file (credit report, VOE, VOD, property appraisal etc.)
• Expert group to deal with regulatory requirements
• Standardized and automated back office support for mortgage processing
• Up to 30% reduction in TAT, leveraging 24/7 work environment
• Up to 40% reduction in per employee operational cost
• Flexibility to scale work up to 50% during peak times
• Seamless communication and highly transparent operations
• 100% data confidentiality and privacy
• Flexible staffing model

Particularly when it comes to mortgage processing firms for credit unions, Expert Mortgage Assistance is a brand to be regarded. Credit unions can operate to their total capacity thanks to our superior service standards and due diligence.