Loan Origination Services

Pre-Underwriting Services

Mortgage lenders want to keep their operations efficient and profitable. Activities and tasks under pre-underwriting serve as a foundation for accurate, timely and speedy lending decisions. Uncertainly and slowness in pre-underwriting not only weaken financial outlooks; it can also seriously damage your reputation in the market and goodwill with customers.

At CES, we conduct pre-underwriting diligence to ensure that borrowers’ profiles in mortgage systems (e.g. LOS) are complete and accurate. Also, we ensure that loan documents meet the minimum qualification criteria for different loan types and identify missing files or information that must be obtained from the borrowers. A robust pre-underwriting process minimizes unnecessary delays, re-works and inconvenience to borrowers.

Some examples of documents requiring pre-underwriting reviews and validations include:

• Credit Report – A detailed report outlining loans and repayment history
• Financial information – Paystubs, W-2, tax returns, bank statement and other assets
• Employment information - Employment records or business history
• Appraisal and Title – Availability of completed Appraisal and Title search reports

Underwriting Services

A loan underwriting process has mission critical consequences for both lenders and borrowers. Lenders want to avoid undue financial risks and make expedient underwriting decisions, while not declining or delaying loan applications that should be approved quickly and efficiently. Borrowers want to conduct business with lenders who offer competitive lending terms without any hassles.

At CES, our underwriting team thoroughly reviews and analyzes loan documents for making/recommending underwriting decisions that meet our clients’ lending criteria. For example, we ensure that borrowers meet minimum lending criteria for credit worthiness, collateral, financial capacity and debit-to-income (DTI) ratio etc. Also, our underwriting assessments take into account industry best practices and Fannie Mae and Freddie Mac guidelines.

We have the proven ability to review, validate and analyze loan files and documents thereby ensuring accurate, speedy and regulatory compliant underwriting decisions as clients’ extended teams.

• Capacity - Income Analysis to determine the capacity to repay the loan
• Capital - Fund Analysis through the Bank/Asset Statements & Verification of Deposits (VOD)
• Legal Ownership - Title Analysis using The Title Reports, Appraisals and Deeds
• Evaluate DTI, LTV and various ratios
• Review Automated Underwriting results (AUS and LP)
• Ensure that the loan meets investor guidelines and lender guidelines
• Complete all underwriting worksheets and perform income calculations
• Render final loan decision whether it is approved, declined or denied with valid conditions
• Issue Clear-To-Close as appropriate

Loan Closing Services

Loan closing and funding consist of many tasks and activities that must be performed quickly, accurately and in a regulatory compliant manner. Many of these tasks are complex, time consuming and require the professional assistance of mortgage closing and funding experts. Above all, this is not a time to let things slow down due to insufficient in-house expertise or unexpected spikes in new loans that must be closed and monetized without any delays.

At CES, our dedicated mortgage support experts provide timely and cost-effective assistance as clients’ extended teams. We have the ability to provide end-to-end assistance with closing and funding tasks for different types of loans and client-centric business workflows. In essence, our professional assistance is customized as per clients’ unique challenges and opportunities.

We conduct pre-closing audits and surveys on loan files to ensure that underwriting decisions justifiably support closing and funding of loans. Also, we gather, analyze and submit appropriate closing documents and disclosures; we calculate fees and taxes; prepare and submit closing packages to all parties as requested by clients. Examples of closing and funding tasks include:

• Pre-closing audit and verification of all the underwriting documents
• Verifying and validating loan information in mortgage systems and tools
• Gathering and organizing loan documents required for closing and funding:
• Title search, appraisal report, flood certificate
• homeowner and mortgage insurance, Certificate of Occupancy
• HUD-1, Deed of Trust, Disclosures and various Tax forms
• Calculating and estimating fees; managing disbursement of funds
• Validating conformance of loan package against federal, state and local regulations

Post Closing Services

The post-closing stage triggers an extensive list of back-office tasks and activities that require as much attention and urgency as pre closing tasks. Time consuming checks and audits must be performed by dedicated members of a post-closing team and often by busy underwriters who step in to conduct post-closing diligence on mortgage documents.

At CES, our post-closing experts conduct comprehensive checklist-based audits on loan documents for completeness, accuracy and data integrity that supported the closing decision. We track and retrieve trailing documents and ensure that the recording package is complete and error-free before it is sent to Land of Records Office for recording. Our professional, flexible and cost-effective assistance enables clients to focus on revenue-generation and core activities, while enjoying operational efficiencies, faster throughputs and significant cost reduction.

• Conduct comprehensive post-closing QC and audits on loan documents and files – legal documents, origination documents and disclosure etc.
• Ensure compliance with loan processing and underwriting rules; identification and retrieval of missing documents to ensure successful recording.
• Perform loan data integrity validation and provide quality control report on the final documents.
• Prepare the loan package to be sent to the land records office for final recording.