Post-mortgage foreclosures have become increasingly important in the mortgage industry, particularly due to record foreclosure volumes and subsequent regulations and scrutiny. The entire process, including post-close reviews/HMD audits, title recording verification, trailing, tracking, document retrieval, data integrity audits, etc., should be done in an error-free manner and should be properly packed and delivered. What should be done? We are among the best mortgage post closing support companies, as we guarantee error free back office post closing support services with reasonable turnaround times.
We close over 10000+ loans for lenders.
Credit union in a month
Our clients outsource post-closing mortgage services to us because our streamlined process helps them focus on their core competencies, while also reducing their fixed costs.
Our end-to-end mortgage post-closing support services
Trailing document retrieval
A thorough loan review is required to evaluate the completeness, accuracy, and integrity of all information used to support the lender’s decision. We follow up with third parties via phone and email to obtain past documents such as mortgage or trust deeds, assignments, tax records, modifications, hypothecation agreements, mechanic’s liens, UCC records, judgments, and more. . Assignment, lien release, and issuance of the final title policy are all done after this process is completed.
Assist in retrieval of previous documents (assignments, amendments, etc.) to facilitate timely issuance of final title policy.
Follow up with all third parties to review all previous documents.
Assembling the Post-Closing Mortgage Loan Package
After a successful loan closing, we prepare a post-closing loan package for you by compiling all the documents submitted throughout the process. These include notes, deed of trust with riders and signatures and final HUD-1 with necessary attachments etc. We work closely with brokers and title companies to collect and review mortgage loan audits. We also determine if a post-closing loan package meets your needs.
Collect and compile all the appropriate documents that were submitted throughout the loan process.
Work with title companies and brokers to review and assemble the final post-closing package.
Review post-closing loan packages for accuracy and completeness.
Assess whether the file meets your needs for loan insurance, sales and fraud protection.
Prepare a shipping package according to the investor’s preferences.
Post-Closing Data Integrity Audit
We conduct a post-closing mortgage audit to address any deficiencies that may occur. This is an important step in post-mortgage closing and includes tasks such as verifying occupancy, resolving issues flagged by underwriters, etc.
Resolve any inconsistencies or underlying issues that may compromise data integrity.
Reviewing the government is insuring.
MARS (Mortgage Electronic Registration System)
We register all approved loans with MARS (Mortgage Electronic Registration System) as part of the post-closing process. It is designed to track the rights and ownership of mortgage loans.
By registering as “Mrs as Original Mortgage” or as Mother, the debts are immunized against future assignments. Merus then remains the mortgagor, regardless of whether the servicing has been traded multiple times. It is approved by the majority of rating agencies on Wall Street and guarantees fast execution, reduced shipping time, a smooth closing process, and completely eliminates documentation errors.
By assigning already closed loans in the name of the borrower, non-mortgage loans (or MERS by assignment) can be registered. This allows all future transfers to be completed electronically.
We also offer mares registration assistance to organizations interested in benefiting from debt and fraud tracking services at a fraction of the cost, without the need to record the mares in the county land records. This program prevents fraud by verifying the borrower’s property declaration and accurately completing property protection information.
Strong quality control audit
Our post-closing mortgage quality control process is extensive and goes beyond Fannie Mae and Freddie Mac’s requirements to review a random 10% of all types of closed loans. We ensure that all data in our possession is verified for inconsistencies, inconsistencies and potential errors during the post-closure phase. To ensure foolproof quality, we have an in-house quality control program for the post-closing process, independent of the quality control performed for the mortgage origination and underwriting departments.
Our post closing quality control sample mainly considers 3 sample types
This quality check is done at multi-tiered levels, thus ensuring a quality audit every time after closing. Our post-closing audits can be tailored to specific needs and we can also accommodate any unique information provided to us. We audit all mortgage loan files such as conforming and nonconforming loans, subprime, lien, reverse annuity, and more.
Our post-closure quality control review takes a holistic view
Accuracy of data in documents as required by law.
Mortgage underwriting decisions to ensure full compliance with underwriting requirements as mandated by Freddie Mac.
Determine that all closing conditions have been met (HUD1 Settlement Statement or other closing statement)
Carefully monitor the overall quality of the mortgage product such as income and assets. Re-verification of employment, comparison of signatures, initials and dates; automated underwriting approval review; assessment review; Audit reports etc
We offer mortgage quality control audit services using class-leading auditing systems and processes. These services include pre-funding, post-closing, compliance, servicing, cancellation/denial, foreclosure/EPD loans, fraud investigation, loan repurchase, commercial loan audit, and QC plan preparation. We audit all types of loans such as Fannie Mae, Freddie Mac, FHLB, FHA, VA, and lender specific. Our standard audit process includes file document review, underwriting evaluation, third-party reconfirmation, and credit risk analysis.
Our experience in handling all these requirements with seamless efficiency has made us the most trusted post-mortgage closing company for third party services.
Verification of inconsistencies in the data provided
Audits can be tailored to a number of requirements.
Using only world-class auditing systems and processes
in place for multi-tier quality checks
Tax, insurance and reserve audits
After your loan closes, we review all tax, insurance and reserve requirements. We check to see if all tax obligations are met and identify issues, if any. This includes the title insurance policy and other policy documents. Finally, we evaluate the reserves and check the required standards.
Review all insurance, tax, and reserve requirements to
ensure standards for reserves are maintained.
Why Outsource Mortgage Post-Closing Services to Expert Mortgage Help?
Our clients prefer to outsource the post-mortgage closing process to us because of the many benefits we offer them. These include
1000+ highly trained mortgage processors working full time.
Guaranteed 99% accuracy in post-closing data integrity audits (notes, deed of trust with riders and final HUD 1) Expert group mortgage post -closing
to address regulatory requirements for post-closing compliance
Standardized and automated back office services for the needs of
24/7 working environment Reduction in TAT by up to 30% Reduction
in operational cost per employee by up to 40% Flexibility
to increase workloads by up to 50% during peak hours
Communication and highly transparent operation
100% data privacy and confidentiality
Flexible staffing model
Post-mortgage closing assistance services are provided by EMA to address all critical aspects of post-mortgage closing with care. have been prepared.
Post-mortgage closing assistance services provided by EMA are carefully designed to address all important aspects of post-mortgage closing.
Looking for a third party mortgage post closing services company? Outsource the mortgage post-closing process to us to streamline your mortgage closing and post-closing needs.
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