>

How does it works?

Loan Origination

4.
APPRAISAL REPORT
  • Initial Assessment of Property Value
  • Order Independent Appraisal Report
  • Review Completed Appraisal Report
  • Address Post-Appraisal Report Issues
  • Issue Final Written Loan Term Sheet
1.
Engage
With Client
  • Initial Consultation w/ Borrower
  • Qualify Borrower based on Lender Guidelines
  • Determine Type of Loan Transaction
  • Verify Loan is Exempt from Dodd-Frank Act
  • Establish Property Use as Investment Only
3.
Property History
  • If Purchase, Review Contract
  • If Refinance, Review Loan History
  • Review Property MLS History
  • Review Property Sales History
  • Conduct Public Records Search
2.
Loan Application
  • Provide Lender Disclosures to Borrower
  • Review Borrower's Credit, Income + Assets
  • Establish Loan Program + Loan Amount
  • Establish Interest Rate + Loan Terms
  • Issue Initial Written Loan Term Sheet


Loan Underwriting

4.
APPROVE OR REJECT LOAN
  • Establish Pre + Post Closing Loan Conditions
  • Final Loan Program + Loan Amount
  • Final Interest Rate + Loan Terms
  • If Approved, Issue Loan Commitment
  • If Rejected, Issue Rejection Letter
1.
Collect
Info
  • Review Pending Information
  • Request Additional Documentation
  • Verify Borrower's Assets + Income
  • Verify Borrower's Credit History
  • Verify Borrower's Employment
3.
Quality Control
  • Fraud Detection
  • Property Risk Assessment
  • Credit Risk Assessment
  • Property Insurance Coverage
  • Loan Compliance w/ Lender Guidelines
2.
ABILITY-TO-REPAY ANALYSIS
  • Verify Rental Income
  • Income vs Expense (P-I-T-I-A) Analysis
  • PITIA = Prin, Int, Taxes, Insur + Asso Dues
  • Debt-to-Income (DTI) Analysis
  • Verify Borrower Reserves After Closing


Closing + Funding

4.
RECORD LOAN DOCUMENTS
  • Loan Doc's Recorded 1-3 days after Closing
  • Record Mortgage
  • Record Collateral Assignment of Rents
  • Record UCC Financing Statements
  • Record Other Applicable Documents
  • Evidence that Loan Documents Recorded
1.
PRE -
CLOSING
  • Clear Pre-Closing Conditions
  • Closing Protection Letter | Title Insurance
  • E + O Policy from Settlement | Title Agent
  • Title Commitment from Title Agent
  • Property Insurance Binders | Certificates
  • Review Final Settlement Statement
3.
Funding the Loan
  • Review Signed Closing Package
  • Lender Disbursement Sheet
  • Fund the Mortgage Loan
  • Escrow Reserves Allocation Sheet
  • Open Escrow Reserves Account
  • Fund Escrow Reserves Account
2.
CLOSING THE LOAN
  • Lender Represented by Legal Counsel
  • Clear Closing Conditions
  • Closing Instructions to Settlement Agent
  • Loan Closing Package by Legal Counsel
  • Clear to Close by Legal Counsel
  • Close the Mortgage Loan


Post-Closing (Loan Package)

4.
PACKAGE MORTGAGE LOAN
  • Loan Offered For Sale to Investors
  • Question + Answer Session w/ Investor
  • Mortgage Loan Schedule Summary
1.
ORIGINAL LOAN DOCUMENTS
  • Receipt of Recorded Loan Documents
  • Compliance w/ Closing Instructions
  • Clear Post-Recording Conditions
3.
INSURANCE POLICY
  • Receipt of Hazard Insurance Policy
  • Windstorm Insurance Policy
  • Flood Insurance Policy
  • Liability Insurance Policy
2.
LOAN TITLE INSURANCE POLICY
  • Receipt of Final Title Insurance Policy
  • Title Policy Endorsements
  • Clear Title Policy Issues


SELL LOAN TO INVESTOR

4.
START
LOAN SERVICING
  • Question + Answer Session w/ Investor
  • Custodial Account Certification
  • Escrow Account Certification
  • Investor On-Line Access to Escrow Account
  • Clear Post-Closing Conditions
1.
SALE AND PURCHASE AGREEMENT
  • Confidentiality Agreement
  • Accredited Investor Rep Letter
  • Loan Pricing Letter + Purchase Price %
  • Term Sheet for Loan Transfer
  • Sign Sale + Purchase Agreement
3.
CLOSING + TRANSFER LOAN
  • Investor Owns 100% of Loan
  • Investor Represented by Indep Counsel
  • Investor Transfers Funds to Legal Counsel
  • Investor's Counsel Sends Funds to Seller
  • Seller Sends Loan Doc's to Investor's Counsel
2.
Investor'S DUE DILIGENCE
  • Lender Representations + Warranties
  • Examination Of Loan Documents
  • Indep Appraisal Re-Certifications
  • Indep Opinion of Legal Counsel
  • Indep Exterior Property Inspection


LOAN SERVICING

4.
DEFAULT MANAGE-
MENT
  • Loan Modifications, Loss Mitigation + Workouts
  • Forbearance + Deferment Agreements
  • Foreclosure Monitoring + Timelines
  • Borrower Insolvency + Bankruptcy Proceedings
  • Property Preservation and Inspections
  • REO Property Management + Sales
1.
MONTHLY PAYMENT MANAGEMENT
  • Collect Monthly Payments
  • Loan Servicing Advances
  • Remit Payments to Investors
  • Monthly Borrower Statements
  • Monthly Investor Reports
  • Late Payment Collection Services
3.
CUSTOMER SERVICES
  • Engagement with Client
  • Assume Operational Responsibility
  • Pay-Offs, Releases + Satisfactions
  • Year-End 1098 IRS Reports
  • Management Reports
  • Process Casualty Loss Claims
2.
ESCROW RESERVES
  • Custodial Escrow Reserve Services
  • Property Tax Escrow Administration
  • Insurance Escrow Administration
  • Remit Tax + Insurance Payments
  • Audit + Accounting Reports
  • Escrow Reserve Analysis + Statements