Mortgage Process Outsourcing Services

The ever-changing latitude of mortgage is influencing more and more lenders to look for alternative yet ground-breaking solutions to satisfy the inconsistent demand prevailing in the market. IBN’s outsourcing mortgage loan processing services clout global conveyance of technology, capabilities, transformation and lending functions. We majorly focus on coping with the varying trends in the industry but with profitable margins.

Mortgage Lending

Mortgage process outsourcing services of IBN suggests uncomplicated functions; for instance indexing of loan documents and data entry (registration of loan). IBN’s outsourcing mortgage loan processing services not only does this but also offers wide-ranging services for 24*7. These services comprise of underwriting, closing documents review, loan modification and payoffs. We are privileged to reveal that 51% of our business related to banking comes from consumer lending and mortgage. Mortgage process outsourcing services is not an easy-going operation and requires eye for detailing. At IBN, we are dedicated towards minuteness while making the entire process smooth and unfussy for our customers.

IBN’s outsourcing mortgage loan processing services extend variety of services for Servicing functions and Residential Mortgage Loan Origination for a range of loan products that have been devised through either wholesale or retail channel.

Let’s have a quick glance at our diverse facilities which enable an efficient functioning of mortgage process outsourcing services:

Services

Loan Servicing
  • Loan Boarding
  • Customer Service
  • Bank Reconciliation
  • Default Management
  • Escrow Management
  • Loan Modifications
  • Investor Reporting
  • Payoff Processing
Loan Origination
  • Loan Boarding/ Registration
  • Loan Processing
  • Compliance Quality Review
  • Underwriting support
  • Closing and Funding
  • Secondary Marketing
  • Post-Closing review
Products supported
  • Fixed rate mortgages
  • Jumbo loans

Loan Origination

  • Loan Document Indexing: Loan Document indexing is done by reviewing and indexing mortgage documents which are received consequently as the mortgage is underwritten and processed.
  • Loan Registration: The application forms received from the brokers are used for registration of loans on the loan origination system.
  • Loan Boarding: Assessment of acknowledged loan documents to check whether the documents are ample for further dispensation of the loan file, as well as for underwriting.
  • Loan Document Verification: Loan documents like Income / Asset Verification, Employment verification etc. are verified.
  • Insurance Processing: Insurance processing covers Flood, Title, Appraisal and Home Owners Insurance.
  • Fraud Detection: Here records are cross checked to detect if there exists any kind of fraud.
  • Compliance Quality Review: During this process Good Faith Estimate for compliance is reviewed to fee amounts and variance according to RESPA guidelines. Corrections and reprinting of disclosures are done if required.
  • Closing and Funding – Loan Document preparation, Review loan documents, File Audit & QA, Draw loan docs, Pre-Funding Risk Review, Reconcile closing fees, HUD 1 Reviews, review executed documents/ loan funding, Wiring instructions & conditions verification, Accounting & Reporting also are a part of IBN’s outsourcing mortgage loan processing services.
  • Post-Closing – This phase focuses on Post Close Review/ HMDA Audit, Title Recording Confirmation, Mortgage Electronic Registration Systems (MERS) Registration, Trailing Docs Tracking, Docs Retrieval, Data Integrity Audit.
  • Underwriting – IBN’s mortgage process outsourcing services provide underwriting support services which comprise of operations like Conditions Review, Quality Control, Credit/ collateral/ capacity review.

Loan Servicing

  • Loan Boarding – IBN’s mortgage process outsourcing services can assist you in purposes like welcome calls, setting up of loan information on the servicing system and authenticating info and validating that all needed documented in the loan file.
  • Escrow Management – Escrow Management concentrates on escrow account maintenance and related services such as creation, modification, maintenance and deletion of escrow accounts. Other typical services that is being offered by IBN’s mortgage process outsourcing services include calculation of escrow payments, utilization of excess funds towards escrow payments, research and generation of reports of Principal, research of surplus funds in customer escrow account, Interest, Taxes and Insurance (PITI) paid, Tax Management services, Insurance management services (Hazard Insurance, Flood Insurance).
  • Payoff Processing – We deliver services like application of payments along with payment exceptions. Other payment services of IBN’s mortgage process outsourcing services include payment checks exception processing, posting of exceptions checks to the right account, correcting misapplied or misappropriated payments as well as processing excess funds sent in by customers. Mortgage payment returns are done and bankruptcy warnings are also handled effortlessly.
  • Loan Modifications – We understand that Modification of the loan account information, based on changes to the loan conditions, or as requested by the customer & accepted by client is very crucial.
  • Lien Release – These distinctive set of functions involve mortgage loan payoff, processing after the loan payoff, closing of the loan account and releasing the lien on a property.
  • Default Management – Here we take care of Early stage collections/Late Stage Collections, Foreclosure processing.
  • Customer Service – IBN’s mortgage process outsourcing services support numerous kinds of loan account servicing requests that include address changes, 1098 forms, transaction history, waiver of fees, ordering of payment coupons, closure of loan account and request for statement of amortization schedule etc. Another critical function of customer service is correction of entries on the credit reports of customers.
  • Bank Reconciliation – Here we do reconciliation of funds that are deposited.
  • Investor Reporting – To maintain an efficient set of mortgage process outsourcing services we give special preference towards generating investor accounting reports.

Consumer Lending

This another exclusive feature of IBN’s mortgage process outsourcing services. We stipulate support the areas of consumer lending value chain, acquisition of the account (origination), processing the transaction and payment, default management as well as servicing the account.

How can we segregate the IBN’s Consumer Lending feature?

Origin
  • Acquisition
  • Processing
Servicing
  • Payment Processing
  • Loan Boarding
  • Loan Modifications
  • Bank Reconciliation
  • Customer Service
  • Default Management
  • Credit Report Discrepancy
Products Supported
  • Home equity loan
  • Home equity lines of credit – HELOC
  • Auto and motorcycle loans (new and used)
  • Private and federal student education loans (Perkins, Stafford, PLUS, etc.)
  • Marine and RV loans

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