SFM Contract Processing Services
Are you a mortgage broker or loan originator looking to focus more time on your core origination activities and less time on gathering and reviewing documentation, submitting files and conditions, and managing the closing process? If so, our contract processing services are for you! Here is what your contract processor will do for you:
- Be a second set of eyes on the loan application and will review for missing data, pull and review credit the report for lates, derogatory credit, BK’s etc.
- Run DU or LP as directed and communicate findings
- Order out all title, escrow, payoffs, insurance binders, HOA docs, order appraisal
- Prepare initial disclosures and re-disclosures as directed and send disclosures to the borrowers
- Provide a daily pipeline report of exactly where all loans are in the process
- Create an initial introduction email and communicate weekly status of loans to realtors, with a CC to you
- Notify borrowers of all documentation needed for loan submission and conditions, with a CC to broker
- Obtain any necessary VOE/VOM/VOR, credit sups, etc.
- Submit file to underwriting and work all conditions
- Submit Doc Request and invoices to the lender when file is clear to close and schedule closing
- Send broker demand and invoices to Escrow and coordinate signing times
- Work all PTF conditions and see the loan through funding
- Close out file with a post close audit and ensure all disclosures, redisclosures and final loan documents are in the Broker’s filing system for record retention purposes
- All borrower documentation will be electronic. At no time will SFM Processing have a hard copy of any borrower documents
- SFM Processing will maintain the highest ethical standards and commitment to quality control and information security
Cost for all the above is $750 per closed loan file
Our Team: Sheila Barlow, NMLS license # 1185475, has been a Loan Processor since May of 2009. Experienced with Conventional, FHA, VA and Reverse Mortgage loans. Familiar with many lenders systems including Rocket Mortgage, United Wholesale Mortgage, Home Point Financial, Finance of America Reverse, AAG, RMF and Open Mortgage.
If you are interested and would like more information, please contact:
Sheila Barlow, Loan Processor / NMLS 1185475 / firstname.lastname@example.org / 425-351-9377