Business
Models
Dedicated
Operating Team
Have you ever felt that your work is denying you
the time to go on that much needed vacation? Why keep yourself within
the four corners of your office when the world can be your workplace?
Fully utilizing the latest technologies to enhance your productivity
and cost-efficiency at the same time, this model will allow you to
manage your own employees and oversee day-to-day operations in your
"virtual workplace". Everyone in your team is easily accesible through
phone, email, chat, fax, and video call anytime, anywhere, in
real-time. You can have as many employees as you need without having to
worry about HR, workplace, or facilities issues that commonly derail
expansion programs.
Mortgage
Processing Outsourcing
Do you find yourself at that crucial
stage where you need to cut cost and expand your capabilities at the
same time? Do you experience a bottleneck at some parts of your
organization or work flow? Why worry about implementations and
operations when you should focus on your goals and targets? With
Processing Outsourcing, all you need is to define your goals and
targets and we'll work with you in achieving those. You can let us
handle just a part of your process or you can also let us assist you in
your entire process, whichever will lead to you achieving your goals.
Basic
Services Offered:
•
Loan Origination /
Pre-qualification Support
•
Mortgage Loan Processing /
Underwriting Back-Office
•
Due Diligence Audits
•
Document and Pipeline
Management
•
Work flow Management/Business
Process Re-engineering (Consultancy)
•
Existing/New Customer
Support
•
Mortgage Servicing
Back Office
Loan Origination /
Pre-qualification Support
We can request for
a credit report from your preferred credit report agency, research
property profile, analyze the loan profile, gather information from
and find a suitable program for your borrower based
on your broker's pool of lenders. We will maintain contact with you,
the broker, and borrower throughout the entire process.
You will be able to focus more on your marketing
drive and free yourselves from the burden of paper pushing. A solid
back office support would also add value to your own marketing profile,
enabling you to attend to multiple clients at the same time without
sacrificing turnaround time.
• Loan Application Analysis
• Program and Rate Quotations (*subject to broker's preferred
lender)
• Credit Report Requests (* needs partnership with a
credit
bureau/company or use client's account)
• Property Profile Requests (*needs partnership w/ a
title company and
an appraiser or use client's pool)
• Property Valuation (Appraisal) Request
• Preparation of Initial Application Documents (e.g. 1003,
Authorization, etc)
Mortgage Loan
Processing / Underwriting Back-Office
Loan Processing is perhaps
the most tedious and crucial part of a mortgage loan application. Most
loans fall-out at this stage if not handled properly. We can help you
attend to each of your loan with utmost care and do it within industry
acceptable turnaround time.
Service may be tailor-fitted to suit
your processing needs.
•
Customer Inquiry Support
We will address the inquiries and
concern of the borrowers and the loan officers throughout the
processing stage.
•
Application Completion
Once we receive the application package
from you, we will ensure that it is complete and with accurate
information. We will request for and gather all missing information
from the applicable source (e.g. Borrowers, title company etc.)
•
Vendor Management (Title, Appraisal companies and Credit companies)
We will coordinate with 3rd party companies and
vendors in order to complete the documentations needed for the loan to
be underwritten. We will perform the follow-ups as necessary to ensure
that the documents are received in a timely manner. We will also deal
with the vendors in resolving any specific issues with regard to their
documentations. These can be the your own preferred vendors or our we
can provide you with one.
•
Document Verification
We will perform the necessary
verifications to ensure the veracity and accuracy of the information
from the gathered documents. This is of utmost importance as this is
normally where a loan application falters due to misrepresentations and
fraud.
•
Loan Submission
If applicable, we
will complete the submission package and submit it to your
lender of choice.
•
Underwriting Support
In processing the file, we will perform the function of a junior
underwriter, reviewing the file based on the underwriting guidelines of
your preferred lender. This can speed up the
underwriting process and reduce fall outs as we
will be able to raise red flags or inform you of any possible
deficiencies that the file has. By doing so, we can also suggest an
alternative program or lender.
Once the file has been submitted for lender underwriting, we will
closely monitor the status in underwriting and keep you and
the borrower informed of any additional requirements until
the file has been cleared for docs.
•
Closing support
We
will coordinate with the lender's closing department and the funders to
ensure that all deficiencies are met for the loan to fund on time. We
will prepare the HUD and other closing requirements for your review,
before sending it to the lender or escrow.
Due Diligence Audits
As an added value
service, this will ensure that the risk associated in mortgage
processing is managed properly and attended to in a timely fashion. You
will know which files will raise a red flag even before it reaches your
lender's underwriter.
With a full time 3rd party auditor, you
can be assured that the file will be properly reviewed and verified.
•
Quality Control / Compliance
Checks (subject to lender's/client's checklist)
•
Verification of Employment and income
•
Verification of Assets
•
Verification of Identity and Property
•
Review of closing documents (subject to
lender's/client's
checklist
and government regulations)
Document and Pipeline
Management
An added value
service that will organize and enhance your day-to-day operations.
We will manage your volumes of documents and files. With an
ISO 9001:2000 certification, you are assured of a secured storage to
meet government standards and regulations, aside from adding to your
own maketing drive. It would also facilitate retrieval, review and
research of files from anywhere in the world that is connected online
We will manage and review your pipeline, to ensure
that the client meets their targets and goals and that all your files
are secure.
•
Document imaging, safekeeping, and
maintenance.
•
Pipeline reporting, assessment and
review in regular intervals
Work flow
Management/Business Process Re-engineering (Consultancy)
As an added value
service, we can develop a process flow or enhance your
existing one to further improve efficiency.
Given our experience in the mortgage and
outsourcing industry, we can manage your technological migration. You
will be guided in keeping up with the latest technology to enhance your
productivity and efficiency.
•
Workflow development and management
•
Process Analysis
•
Technology Integration and Migration
Existing/New
Customer Support
As an added value
service, we can manage and support your existing pool of customer or
potential clients through existing communication lines (phone, email,
chat, and fax).
This will save you time and resources as you will
have someone dedicated to providing pre/post- processing services,
while increasing your chance of having repeat customers.
•
Account/Product Inquiries
•
Customer and Account Information
Management
•
Pay-off quotes and requests
•
Over-the-phone payments
Mortgage
Servicing Back Office
We will provide you with a dedicated team led by
expert BPO financial service practitioners who have extensive
backgound in the US banking industry. This team can be further
expanded, modified Or adapted for other mortgage banking operations
and/or other financial services’ (i.e. banking) operations to
suit your needs.
•
Servicing Processes
•
Post check payments deposited through
Lockbox
•
Post payments deposited by Home Owners
via Bank Tellers
•
Post ACH payments that we auto-draft
•
Process payoffs for wires received (or
for maturing loans)
•
Analyze the Escrow balances of home
owners
•
Send payment coupons to Home Owners
•
Pay taxes
•
Coordinate with taxing authorities
•
Pay insurance
•
Coordinate with Insurance Companies
•
Upload Reports to the Credit Bureaus
•
Send monthly and quarterly reports to
FFSB
•
Coordinate with HUD regarding their loans
•
Send Monthly Billing to FFSB
•
Send escrow refunds and excess payments
to customer
•
Perform daily reconciliation of payments
against deposits and
transfer to custodial account
•
Investor Reporting and Accounting
Processes
•
Send Monthly Investor Reports to Fannie
Mae, Freddie Mac, and Ginnie Mae
•
Perform monthly monitoring of
reconciliations and custodial accounts for
all investors
•
Send reports via MorNet and Surf for
Fannie Mae
•
Send reports via MidaNet and Goldworks
for Freddie Mac
•
Send reports via GinnieNet and E-Access
for Ginnie Mae
•
Default Processes (for delinquent Loans)
•
Monitor delinquent loans
•
Create 60 and 90 day Late Notices
•
Send Breach Letters to Home Owners
•
Report monthly delinquencies to Fannie
Mae, Freddie Mac, FHA and VA
•
Monitor Bankruptcies (outsourced)
•
Monitor Foreclosure (outsourced)
•
Monitor Eviction (outsourced)
•
Report REO loans to Fannie Mae and
Freddie Mac
•
Order Property Inspections
•
Pay monthly Property Inspections
•
Order Property Preservation
•
Pay Property Preservation (e.g.
winterization)
•
Coordinate with Attorneys (outsourced)
•
Report foreclosure sales or Deed-in-Lieu
to Fannie Mae, Freddie Mac, FHA and VA
Infinit-O's difference is its clear focus on the delivery of
long term measurable business improvement.
Our highly trained and professional mortgage loan processors and
employees use the latest world-class technology, and business controls,
ISO 9001:2000 quality standards, ISO/IEC 27001:2005 security standards
and our proprietary framework to deliver meaningful results to our
clients.
