All About Loan Origination Services and Day 1 Certainty

10/16/2018 RAWAT 0 Comments

When it comes to offering privately labeled comprehensive fulfillment solutions for a mortgage, Origination Services are ideally suited for the purpose. Mortgage lenders are particularly benefited as they can originate loans directly to consumers or through a third party. Mortgage solutions can provide you efficient loan fulfillment services right from the initial disclosures to loan delivery. Moreover, they can be customized to meet a client’s unique requirements.
Besides, the recent upgrades in the products of Day 1 certainty make the mortgaging process for the customers and lenders simpler. The immediate benefits will be experienced in the form safer and stronger housing finance system. Lowering costs and ensuring certainty, it will duly suffice customers’ requirements. With the aim of building the benefits this service provides, the company has been working tirelessly since its induction in the last year. Giving due consideration to the feedback of its humongous client base and their recommendation, the company has been successful in making the mortgage process more accessible, less expensive, and faster.
With the mission of creating a safer and stronger housing finance service of the 21st century, the institute is determined to launch innovative solutions that will be assisting customers to face business challenges head-on.  Gone are the days when multiple paper documents were required to validate a borrower’s credential. Through Single Source Validation, only one report with source data is good enough to suffice verification. As a result, loan disbursement will be easier followed by cost reduction.
Sellers who are interested in collaborating will benefit from a connected service. Operators in the market will be serving transfers every time a seller disburses a loan to Fannie Mae. Hence, it will render transparency in the origination title and closing services. If interested in reaping the benefits early, companies are advised to participate in the pilot program. No doubt, the broker channel has been made efficient through the Single Source Validation. Soon, it will offer better services to its clients through this technology.
From a borrower’s perspective, Fannie Mae has done an excellent job to make the loan process simpler and better. Several outcomes are surfacing in the initial stages of the pilot project. Brokers and borrowers are reporting improvements are evident in the ease and speed of closings. It has become feasible to exchange documents electronically and communicate with clients remotely. It is expected, that with time the residual inconveniences will dissolve making for a free-flowing process. Companies are assured of transparency and speed in the mortgaging process as innovative methodologies make their way in a full-fledged online system. What was once a time extensive and lengthy process has come down to a few simple steps as far as the submission of financial information is concerned.
Through this platform, lenders can monitor, manage, and order digital verification reports. If permitted by the borrower, a company can get direct access to financial account information. Hence, creditors can validate borrower’s financial status in just a matter of a few minutes. Lenders need to ensure they order the appropriate verification reports from the participating vendors.