Loan Accel

Drive innovation and speed in mortgage lending with our pre-underwriting support solution LoanAccel. LoanAccel is a pre-underwriting support solution powered by automation and process excellence to help originators, processors, and underwriters drive more productivity and efficiency.

With LoanAccel you can achieve

  • 65% improved UW efficiency
  • 60% lower operating costs
  • 15% higher pull-through
  • ork for HELOCs

LoanAccel strikes the perfect balance between achieving optimum operational efficiency and meeting market demands. Lenders can get the following support:

Data Validation

  • Automated loan data check
  • Client specific guidelines and checklists
  • Upfront identification of deficiencies related to loan information
  • Auto triggered alerts to convey missing loan information
  • Auto-reminders sent to loan officials for effective follow-up to clear deficiencies

Data Review

  • Pre-work on loan documents as per AUS and client requirements
  • Reviewing AUS (DU/LP) findings
  • Check ratio to be within acceptable parameters (DTI, housing, LTV / CLTV)
  • Initial Indexing
  • Indexing of trailing documents

Third Party Ordering

  • Third party ordering of appraisal, title, flood, hazard insurance, fraud mitigation results, work number and 4506-T preparation for IRS tax transcripts
  • Indexing of trailing documents

Income Analysis

  • Through income calculation for salaried, self-employed borrowers and other types of agency acceptable income sources as per agency guidelines
  • Indexing of trailing documents

Asset Review

  • Thorough analysis of asset documents to identify large deposits, supporting documentation to analyse source of funds for large deposits are from acceptable
  • sources, verifying gift documentation and receipt of gift funds and analysing gift of equity with adequate documents

Collateral Review

  • Appraisal and title reports

Credit Reviews

 

  • Thorough analysis of asset documents to identify large deposits, supporting documentation to analyse source of funds for large deposits are from acceptable sources, verifying gift documentation and receipt of gift funds and analysing gift of equity with adequate documents.
  • Detailed review of credit report for potential red flag
  • Deep dive on undisclosed trade lines

Escrow Verification

  • Verifying taxes & insurance associated with subject property with authentic documents, verifying tax amounts as per public record on netronline.com, validating insurance coverage amount and loss payee clause as per client requirements

Violation of expenses pertaining to other REO’s

  • Checking for mortgage statements to verify if the monthly payments are escrowed, if not escrowed then verifying taxes/insurance with additional documents and verifying HOA dues (if any) with HOA certificate

Disclosure Review

  • General, state specific, program specific

Ratio Calculation and AUS

  • Re-calculating ratio (DTI, housing, LTV / CLTV) calculation as per income /asset/ collateral/ credit analysis
  • AUS(DU/LP) resubmission
  • Indexing of trailing documents

Data and Analytics

  • Real-time information tracking
  • Root-cause feedback at the granular level with actionable data
  • Trend analysis
  • Dashboard reporting

Risk mitigation report analysis

  • Re-calculating ratios (DTI, Housing, LTV/CLTV, calculation of income as per income, asset, collateral, credit analysis
  • AUS (DU/LP) resubmission
  • Indexing of trailing documents
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