As a mortgage provider, you are responsible to screen the USDA mortgage loan applicants and determine if they have the necessary credit history as per the USDA's mortgage loan provisions (with no delinquent federal debt) or not. Whether you rely on automated loan processing systems or document the mortgage records manually, validating 100% genuine borrowers require time & expertise and more so in the current dynamic mortgage-federal laws.
At FWS, we offer back-office support for mortgage loan services that can be incorporated at each step of the USDA mortgage loan cycle. From pre-qualification services & loan-closing to servicing transfer, we can substitute your expensive in-house loan processors.
USDA Mortgage Loan Services We Offer
When you outsource USDA mortgage loan support services to us, we will cover all back-office support associated with the USDA mortgage loan process. We have state-of-the-art CRM, document management system, and a plethora of USDA mortgage loan experts with over 20 years of experience in providing support for the mortgage industry. A few USDA mortgage loan services that we offer include -
We start the USDA mortgage loan process by confirming the eligibility of the applicant and assisting you with all kinds of pre-qualification services to spring the mortgage loan into action. The process covers -
Inspecting the legal capacity of the applicant as per the USDA mortgage loan regulations
Verifying the applicant's financial resources to recompense the loan, validating eligibility based on income and citizenship status, etc.
Applicant's credit history
Collecting and maintaining your applicant's vital information at the back-end
A varying USDA loan volume can make it hard for you to sustain a stable profit. One of the reasons for loan volume fluctuation is a disorganized loan pre-approval approach. However, at FWS, we follow a systematic loan pre-approval process that incorporates a thorough verification of applicant's employment history, credit history, debt history, pay stubs, W-forms, and other necessary documents. Thereby, we create an applicant's profile and store in the CRM. The next step involves sending the verified file to the underwriter.
Property Inspection & Subsidy Requirements
As a foremost USDA mortgage loan support company, we have enough expertise and experience to help you document property eligibility as per the USDA guidelines. We can compile, store, and review all the mandatory details like borrower's geographical location, prerequisites for taking a loan under "rural property", property category, and occupancy information. And after the loan is sent to underwriting, the accurate borrower's record will help you determine the applicant's repayment capacity and allow you to assess whether a loan can be approved or not. We will maintain all those details in the CRM system and you can access those whenever you want.
By choosing us for back-office support for USDA mortgage services, you will also have in-depth knowledge of your applicant' eligibility for payment subsidy.
Agreement & Appraisal
Flatworld Solutions is one of the pioneers USDA mortgage loan support services company where we render full back-office USDA mortgage loan support solutions, helping you chart the purchase agreement, create appraisal records & reports, and follow-up with the underwriting team for other requirements. This will help you reduce the clutter of information lying in your premise and improve the communication between the underwriter and loan processor.
If you want to keep a record of the reimbursement details for certain items paid by the borrower, including earnest money deposit, inspection fees, legal fees, engineering services, etc., we can do that too.
Processing and Closing
As a mortgage lender, you are responsible for determining the amount of the collection from your borrower. You also need to decide that your applicant does not neglect his or her financial responsibilities as it is a precursor for timely & full collection. Thus, the underwriters you rely on must perform a thorough analysis of the property.
At FWS, when we team up with the underwriter, we make sure that the information they receive is rock-solid. After the completion of the underwriting process, we start going through the closing documents. Later, we compile the "Clear documents" to "Close documents" vis-à-vis the loan amount, payment terms, and rate of interest.
Our USDA Mortgage Loan Process
We provide complete back-office support solutions for lenders who grant USDA mortgage loan. We have a strict due-diligence method to screen the applicants by leveraging the reports generated by HUD's Credit Alert Verification Reporting System (CAIVRS). We can systematically check and find out any delinquencies, defaults on federally backed USDA mortgage loans. Our USDA mortgage loan process includes -
Applicant's eligibility verification
Gather supportive documents for the applicant's loan eligibility
Document property eligibility
Assist in making a purchase agreement, prepare appraisal reports & title documents
Send the same to the underwriters
Collaborate with the underwriter(s) for any inconsistencies
Review, collect and store the closing documents
Dispatch the essential closing documents to the customer
USDA Mortgage Loan Tools We Leverage
At Flatworld Solutions, we rely upon modern USDA mortgage loan tools & technologies. Some of the tools we leverage in the process include -
Benefits of Choosing FWS for USDA Mortgage Loan Services
When you collaborate with FWS for USDA mortgage loan services, you will get a substantial edge over your competitors. We ensure compliance friendly USDA mortgage loan support through our extensive experience in the mortgage industry. Here are just a few of the many benefits of choosing FWS for USDA loan services -
Flatworld Solutions is an ISO certified organization which assures you of high-quality USDA mortgage loan solutions. Our support agents, project team, and call center executives are highly motivated to help you with your challenges and queries. With their deep understanding of the mortgage industry, they can connect with your customers emotionally and factually.
At FWS, our team of USDA mortgage loan executives has access to state-of-the-art infrastructure in the form of world-class office spaces, continuous network facilities, and the best-in-class call center tools and technologies.
We have five different delivery centers and four offices spread across the globe. It allows us to render exceptional USDA mortgage loan services. Moreover, our customer support teams work across all the time zones and can deliver their support at your suitable time.
We are an ISO/IES 27001:2013 Information Security Management System (ISMS) certified organization which ensures that all the data related to employees, clients, projects, loans, etc. are completely safe and will not be divulged to any third-party organization.
Flexible Pricing Options
You can work in partnership with us on the need basis. With our flexible-pricing opportunity, you get the advantage of choosing the scope and duration of the USDA mortgage loan support service. Moreover, our dynamic industry-specific knowledge enables us to tailor our services according to your niche requirements.
Our 20 years of proven service experience allow us to successfully get ahead of the changing demands of the mortgage industry and provide industry-wide best mortgage software services.
Our team of call center executives is accessible 24/7. When you collaborate with us, you can be sure that our call center executive will be available for calls during your work hours, irrespective of the time zone difference.
Ease of Scalability
With us, you can demand ramp-ups or scale down of the mortgage loan setup support services to manage project demands and budgets; without having to worry about overheads or layoffs.
We will assign a dedicated project manager to every client who will be the single point of contact for all the client's needs and queries. We will keep you updated at every stage of the project and provide reports on a regular basis.
Outsource USDA Mortgage Loan Services to Flatworld Solutions