You will avoid the expenses, frustration of hiring, training, firing, re-training in-house processors.
You will reduce your overhead by eliminating salaries, benefits, sick time, vacation time, worker's comp, etc.
You will free up expensive office space for sales and marketing activities.
Contract loan processing helps to dramatically streamline your business, freeing you up to generate more sales.
What is the loan originator responsible for?
Selecting the lender, loan program, running a credit report (tri-merge), and locking the rate.
Submitting a complete and signed application and required loan documents to CTC Processing.
Assisting CTC processing when issues or problems arise.
What is your turn time?
Your file will be reviewed within 24 hours of receiving it. Extended review times should be taken into consideration if files are incomplete when we receive them, lack of
communication from the broker or borrowers, etc. Therefore, submitting a complete file and ensuring all parties are communicating effectively will guarantee a quick turn time.
How will your staff represent themselves?
All correspondence from us will indicate that we are the processing center for "Your" Mortgage Co..
What are your fees?
$995 for Conventional, FHA, Jumbo and VA loans
$695 for VA IRRRL
$295 for Simultaneous Second Mortgage
$1295 for Reverse Mortgage
$295 for Loan Officer Assistant services including pricing the loan, completion of loan application and obtaining required documentation from borrowers.
How do I get a final package back after the loan closes?
Once a file is closed, we provide you with a secure link to an electronic copy of the entire package for your records.
What about compliance?
Ultimately, compliance is the broker's responsibility and we will assist you to help make sure all issues are covered.
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