Outsourcing is Now a Great Option for Mortgage Companies

Are you a mortgage broker who is always running short on time? Or maybe you are an owner of a bank or mortgage loan institution and you want to use the time of your resources more productively. In the recent past, outsourcing has proven to be the best way for individual mortgage brokers and mortgage loan companies to cut back on cost, reduce processing time and utilize effort for value-generating business activities.

If you are new to mortgage outsourcing services, then you may have several questions in mind. What type of mortgage work can I outsource? Will the transition be a seamless process? What are the benefits that I can leverage from outsourcing? Do Indians have in-depth knowledge about mortgage loan processing? Well, why not read further and get your questions answered.

India is a one-stop destination for any mortgage service

Your mortgage loan company can get access to one or more of these services, by outsourcing to India:

  1. Pre-qualification services: Your outsourcing service provider in India can handle your GFE disclosures, TIL disclosures and credit reports.
  2. Mortgage pre-processing: If you need help in this area, your service provider in India can provide you with 1003 reviews, rate locks and even initial quality checks.
  3. Mortgage processing: Your service provider in India can successfully handle your underwritings, appraisal reviews and your final quality checks.
  4. Mortgage closing: By outsourcing mortgage closing services, you can get a professional team in India to handle everything from the title search, closing instructions, preparations, HUD settlements and statement preparations.
  5. Mortgage post closing: You can get your shipping and MERS registration needs quickly addressed by your Indian service provider.

The transition process is seamless

You need not have any worries about the transition of your work, as Indian service providers like Outsource2india ensure that the transition is easy and flawless. Here is how a mortgage service provider will make the transition happen in six easy steps:

  1. The mortgage professionals in India will familiarize themselves with your procedure manuals.
  2. Video conferences will be organized with your company, so that you can show examples.
  3. The mortgage team in India will then work on a few sample mortgage files and bring up their queries, if any.
  4. Business meetings will be arranged with you to get questions answered and clarify doubts.
  5. The mortgage team in India will commence work on your live projects.
  6. Your team in India will continue to learn more about your style of working through your feedback and suggestions.

8 benefits of outsourcing mortgage services to India

  1. With mortgage verification, mortgage processing, mortgage loan processing and loan acquisition out of your hands, you will be finally able to focus on building up your business.
  2. Free yourself or your staff from the mundane and tiresome work related to credit scoring, credit re-scoring or the title search of companies.
  3. Achieve a higher level of accuracy in your mortgage processing
  4. Get all your mortgage processing work completed within a quick turnaround time and at a low cost.
  5. Benefit from the flexibility to hire one or more mortgage loan processors as per your need (part-time, full-time or on a per-hour basis).
  6. Get rid of time-consuming activities like auditing, title services, loan verification, loan setup or underwriting.
  7. Get access to Indian mortgage loan processors who have extensive experience in VA/ Conventional, FHA and subprime loans.
  8. Avail a customized mortgage processing solution as per your requirements.

India is the best destination for mortgage loan processing

Over the years, India has proved itself as being the number one destination for the back-end work related to mortgage loan processing. Unlike other outsourcing locations, Indian service providers hire only qualified and experienced professionals who have a thorough knowledge of how the mortgage industry works. With all your questions answered, why not try outsourcing to India today?

What would be the primary benefit that you would like to gain from outsourcing? Is it more time, low cost or greater flexibility? We would love to hear from you. Do leave your comments in box below.

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