╳

Mortgage Origination Support

Processing Administrative Support

Boarding & indexing

  • Faster and more accurate review, data entry and indexing of application information and associated documents.
  • Coforge helps bank move up 5 places in J.D. Power overall satisfaction for mortgage origination

Review quality check of initial disclosure

  • Review of fees, cost, and other documents to ensure accuracy and verify the defined disclosure timelines and guidelines are met.
  • 45% productivity increase and 50% faster turn time in residential mortgage input function.

Administrative & verification support for processing

  • Review of application information and identification of data discrepancies against client guidelines/ checklists to reduce rework.

Review third party documentation and enter data

  • Review and verification of third party documentation and input of information into the origination system

Pre-Underwriting Support Services

Data Validation and Review

  • Validation of documentation requirement as per product, investor and bank guidelines. Condition for missing and/or incorrect information/documents

Income Analysis

  • Calculate income and ratios

Assets / Collateral/ Credit /Disclosure Review

  • Review asset requirements, complete debt analysis as an input for ratio calculation, review of appraisal and disclosure already sent to borrowers

Review of Trailing Documents

  • Review and stage the loan to underwriting

Underwriting Cover Sheet

  • Submit underwriter cover sheet detailing income calculation, ratios, debt analysis and recommended decision on the file

Data & Analytics

  • Trend analysis, reporting, and dashboards

Closing & Funding Support Activities

Pre-closing quality check

  • Review of documents, information, and file to identify deficiencies prior to finalization of fees and costs associated with the approval of an application.
  • 37% reduction in closing pend rates for a large lender.

Pre-funding quality check

  • Review of documents, information, and file to identify any deficiencies and to ensure completeness of documentation prior to deal execution/ funding.

Closing worksheet initial preparation

  • Input data for and review closing worksheet to compute and verify fees and associated costs based on information included in the file.
  • Enhancing customer satisfaction with support for 25% faster closing turn time.

Closing disclosure review and quality check

  • Compare and balance details on fees and cost details between the funding system and the associated closing worksheet.

Post-Closing & Compliance

Post-close quality checks

  • Review of file to identify deficiencies and check for completeness of documents for portfolio and/ or for sale in the secondary market.
  • Reducing post-closing pend errors by 85%.

RESPA QC review & corrections

  • Review of communication including fees, cost, and other documents as per the defined timelines. Identify and notify of discrepancies to ensure correctness.
  • 45% overtime reduction in closing, funding, RESPA review & post-closing mortgage operations by cross-training.

HMDA reporting data entry

  • Review and input information regarding action taken based on communications between the institution and its customer within the defined timelines, in case of denial or withdrawal.

Forensic review of loan package

  • Review of existing performance ratios to enhance salability in the secondary market through analytical models.
  • Identified possible defaults through analytical models using DTI%.

Mortgage Servicing

Account maintenance support

  • Assist in routing and generating documents in response to customer requests ranging from name and address changes, 1098 forms requests, waiver of fees, amortization schedule to credit reports correction.

Payment entry and QC

  • Data entry for payment checks and exceptions, posting to account, correcting misapplied payments, excess funds, mortgage payment returns, and bankruptcy warnings, etc.
  • 20% cost reduction in loan servicing.

Escrow, taxes & insurance account support

  • Assist in generating documents and perform QC throughout the escrow process, including creation, modification, maintenance and deletion of escrow accounts and generation of reports of Principal, Interest, Taxes and Insurance (PITI) paid.

Lien release initial preparation

  • Draft documents to release the lien on the property post mortgage loan payoff.

Collections support

Real time property tax and municipal lien certificates

  • Nationwide real estate tax and municipal lien reporting at the click of a button.
  • Avoid costly penalties from outstanding property taxes, code violations, etc.
  • Read More: https://www.coforge.com/bps/smarttrak/

Real estate property tax servicing

  • End to end property tax servicing for residential and commercial properties. One-stop-shop for tax search, payment processing, claims management.
  • Read More: https://www.coforge.com/bps/rets/

Default Management

Loss Mitigation

  • Early intervention and collections
  • Initial file intake, processing & underwriting
  • Loan modification, short sale & deed in lieu
  • Repayment plans, payment monitoring
  • Call quality monitoring / FCI
  • Tax & HOA
  • Valuations: ordering and review of AVM, property condition report and BPO
  • Borrower – document chase

Loan Modification

  • File intake, setup & processing
  • Borrower – document chase
  • Loan modification underwriting
  • Property reports – current owner search, two owner search, full search, foreclosure information report and TSG report
  • Document preparation
  • Closing & booking

Collections

REO back office support

  • Property reservation setup (initial)
  • Preservation work order reviews (initial & recurring)
  • Invoice reviews & approval
  • HOA curative & processing

QA & QC

  • Quality review on decision taken for approval, denial, and closure process for loss mitigation workout requests (short sale, deed in lieu, forbearance and repayment plans).

Bankruptcy back office support

  • Bankruptcy setup & referral
  • POC/MFR/Supps preparation and review
  • Review plan and file objections & monitor CH 13 payments
  • Reviewing affidavits and declarations
  • Preparation of chapter 7, reaffirmation agreements
  • Review notice of default, monitor cases for discharge/dismissals & Invoice management

Foreclosure back office support

  • Pre-foreclosure checks and FC referral
  • First legal and follow up monitoring
  • Reinstatement, payoff, judgment and bid preparations
  • Foreclosure pre-sale reviews
  • FC timeline reviews
  • Invoice management
  • Claims preparation and filing

Collection Support Solutions

Early & mid stage collections

  • Outbound calling
  • Inbound Call Servicing
  • Digital Channel Delivery
  • Chat Servicing
  • Predictive Dialing

Back office support

  • Collection agency call monitoring

Skip tracing

  • Manual outbound calling

Telephone consumer protection act

  • Auto & Manual Dialing

Collection strategy consulting

  • Assessment & recalibration of existing collections management strategy
  • Identifying & implementing the right fit channels

Mortgage Outsourcing Support Services

Workflow solution

  • Use of analytics, data reporting and mortgage processing knowledge for comprehensive workflow improvement.
  • Driving to six sigma (99.9986%) accuracy levels in lockbox processing

Data extraction

  • Loan registration, inputting and indexing combined with checking for completeness, verification of documents as well as calculations for the loan.

Operational risk assessment

  • A structured methodology for process mapping, assessment of risk controls, prioritization and roadmap for addressing control issues.
  • Identified fraudulent loan amount of over $21 million in mortgage originations.

Analytics

  • High-end complex analytics function, quality Assurance, analysis of performance of operations (closing, processing, etc.)

Appraisal Management Services

  • Order Processing
    • Order entry
      • Accurate entry and validation of every (manual) order to avoid misplacement, delay or duplication of orders.
      • 25% volumes surge processed for appraisal Management Company while reducing cost.
    • Assignment
      • Quicker assignment of orders to appraisers/vendors - selected based on their rating, proximity, price, and availability; tracking appraiser appointments and updating the client on delays.
    • Payment term
      • Detailed verification of all payments received to ensure accuracy and to identify charges or refunds.
    • Voice support

Appraisal Management Services

  • Status Management
    • Order follow-up
      • Follow up on orders assigned to appraisers, validating and updating expected order completion time.
    • Inspection scheduling
      • Tracking of appraiser appointments, confirmation of appointment, updating clients on delays, reallocation of revision and updates.
    • Document procurement/verificatio
      • Reviewing appraiser's license and validation of E&O; insurance, expiry date, license #, name & expiry date.
    • Appraiser/client communication
  • Quality Control
    • Review Appraisal Reports
      • Initial quality control of appraisals to verify compliance to guidelines and regulations.
      • Improving appraisal review cycle time by over 20%.
    • Post completion appraisal review
      • QC of appraisal reports based on revisions; review if any further revisions are required post initial submission of the report to the clients.
    • Value variance reviews
      • Review and exception handling of valuation where the variance is above threshold set by the customer.
    • Broker price opinion
      • Accurate, consistent and timely BPOs delivered via web and mobile devices.
  • Support Services
    • Appraiser management
      • Registration of new appraisers, including document collection, verification, and reference check, managing license and insurance expiration, receipt of signed contracts, etc.
      • ~10% reduction in turn times using flexible staffing in appraisal management.
    • Lender management
      • Setting up/registration of lenders/clients on the appraisal management platform and managing lender relationships.
    • CMA/AVM
      • Add-on valuation services to complete portfolio of offerings that an AMC can offer.
    • BPO
      • Accurate, consistent and timely broker price opinions leveraging a nationwide professional broker network.
Let’s engage
SEND US A MESSAGE