Pre-Underwriting Support Solution" class="img-fluid ">
LoanAccel is a pre-underwriting support solution that works with the lender’s current system using automation and process excellence to help originators, processors, and underwriters drive more productivity and efficiency.
We help lenders achieve:
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We 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
Case Study
25% faster clear to close, application to underwriting time in less than 1 hour for 1-touch files
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LoanAccel™
Drive innovation and speed in mortgage lending
with our Pre-Underwriting Support Solution - LoanAccel™
TESTIMONIAL
What our clients have to say about us
We had a great month in Mortgage and much of that success is attributed to the significant effort and execution of our Coforge BPS partners!
Head of Mortgage Operations
Top U.S Bank
I love working with the LoanAccel team. They are fast and intuitive.
Head of Mortgage Operations
Leading Independent Mortgage Lender
LoanAccel has transformed by mortgage processors. My LOs, processors and underwriters are now able to process more loans faster.
VP, Mortgage & Consumer Lending
Top 20 U.S. Bank
