Put our 13+ years loan processor experience to work for you company!
Mortgage Loan Processor questions

Top Questions Asked by New Broker Clients about our mortgage loan processor service.

1.   Will I need to sign a contract?  MortgageProcessor.com uses a standard "sub-contractor" agreement.  This easy to read agreement is designed to outline the  procedures your loan processor will take with your files and the responsibilities of both us, the mortgage processing company, and you the mortgage broker company. 
2.   How do you get paid when a loan closes?  The loan processor fee is placed on the HUD at closing.  Basically the same as an appraiser or survey company is paid.  Fees such as verification of employment fees through the "work number for everyone", HOA fees, Payoff fees are paid directly to us by the broker. (see processor agreement)
3.   Will you contact my borrower?  Your loan processor will contact your borrower for items that may be missing from the processor file.  The loan officer should however submit a complete package to their loan processor with as much information as possible.  If the borrower is not getting items back to us in a timely manner we will ask the loan officer to assist us in gathering these items.  Your loan processor won't answer questions from the borrower regarding rates or terms of the mortgage loan.  
4.   How long have you been in business?  MortgageProcessor.com has been in business since 1996.   Our loan processors are some of the best in the processing industry.
5.   How can your company help my company to grow?  With many years experience as a national loan processing company we can assist you in many ways.  We have helped many small companies to grow, and helped many large companies to move to their full profit potential.  Now with access to status updates online your loan processor is able to keep in closer contact with you to close mortgage loans faster than ever before. 
6.   What is your average closing cycle?  Currently our average closing cycle is 10 to 20 business days for "A paper" loans and slightly less for clean "B-C" mortgages.  Closing cycles are dependent on a number of factors including how quickly the title company, appraisal company, and loan underwriters are getting to files.  We strive to close loans as quickly as humanly possible but these averages are not a guarantee for the closing times of any loan.
7.   What makes you different/better than other loan processors?  There seems to be no shortage of new processing companies our there.  The vast majority are processors working out of their homes in a converted bedroom.  Many processors turn to loan processing because they don't want to pay for child care.  You can imagine how screaming children are perceived by your clients and the lender community at large.  Umbrella companies have sprung up that receive your file and immediately ship it out again to a processor working out of their home, or even to a loan processor in India.  This situation puts your file at the mercy of the loan processor with no real accountability.  Think about it, if the umbrella company is only getting $100 or so dollars per file and the rest goes to the processor how urgent do you think your file actually is?  Files can sit on these loan processors desks for days with no work being done on them.
   
   In contrast, our business model puts qualified loan processors in an office environment with managers who make sure your loans are getting closed.  Our system of checks and balances helps make sure your mortgage files move quickly and consistently towards closing.  Plus you can check on the progress of your files 24/7 through the internet.
8.   What if my company keeps growing and I need more loan processors?  We are here to expand and shrink with your business.  If your volume is getting larger, just call us and we will add more loan processors as needed to assist you.  Downsizing?  Just give us a call and we will work with you to get the right balance of loan processors for your situation.
9.   How do I know your loan processing company will be around a month from now?  MortgageProcessor.com has been in business since June of 1996.  We doubled in size four times in our first two years with no advertisement at all through referrals from happy clients.  Noting this growth a national magazine did an article on our company about our loan processors.  That article introduced our loan processing company to many new clients that helped us solidify our place in the market as a leader in this industry.  As other loan processing companies have declared bankruptcy, and even gone out of business, ours has thrived and continues to grow. 
   
   "It's unfortunate that so many companies have moved to a "turn and burn" mentality with regards to loan processing."  These companies take a percentage of the profit of each loan submitted for loan processing and ship the loans out to someone working out of the home. 
   
   We have rejected this method of loan processing as an irresponsible way to handle our clients livelihood. Our goal is to forge a long term relationships that will allow both companies to continue to grow.  Some of our current mortgage broker clients have been with us for more than 10 years now.  We hope to have the opportunity to show you how we can earn your business for the long haul.
10.   I'm worried about sending my files out of state  Since 1996 we have closed thousands of loans for our out of state clients.  When you  send your files to us you can rest assured that our processors have a firm handle on getting your loans closed quickly and efficiently.  While this used to be a big concern in the days when all files needed to be originals it's not the same today.  Now days you can scan and e-mail files, use our toll free fax line or if need be overnight a file.  You always have control of your files and can keep track of the progress of each file online any time of the day or night. 

Call you loan processor toll free at 1-866-418-3472