Supporting and managing an in-house staff for your loan origination, processing and post closing needs is expensive. The costs of hiring, training, benefits, and compensation are prohibitive and subject to the seasonal ebb and tide of business. Your organization would like to achieve the benefits of variable staffing through outsourcing, but outsourcing to a local mortgage outsourcing vendor is also an expensive proposition.

Inuva’s unique global mortgage-outsourcing model is the solution that can help you achieve the benefits of outsourcing while keeping your costs at the lowest.

We offer a hybrid outsourcing approach to provide you the benefits of:

1. capacity augmentation and cost savings using offshore resources
2. domain knowledge and local presence support from our operations center in the US

All work that can be coordinated and performed over telephone, fax and the Internet is done at our India operations center. Work that needs access to physical documents or is location dependant gets performed at our US subsidiary in Miami, FL. It is staffed with domain experts, with many years of experience in loan production and post-closing functions, who assist in project transitioning, quality control, and client communications.

Service Offerings

A. Loan Production Services
Inuva India and our US subsidiary can help you centralize your loan production and save you more than 50% of your current costs. Inuva processors and QC staff have extensive experience processing all loan types. Our state of the art VOIP call center is equipped with IP phones which give the processors unlimited telephone access for making outbound or accepting inbound calls. We provide a dedicated loan officer and processor for each file with a backup resource that remains familiar with the file if the primary processor becomes unavailable. Our QC staff based at Miami, Florida has many years of relevant experience in loan origination and processing. They are responsible for tracking each loan file from initiation to completion and for supervising the quality our India processors.

Our services in this area can be categorized as:

Loan Officer Services

 Provide pre-qualification to borrower

  Take a 1003 over the phone or Internet

  Order and review Credit Report and Appraisal

  Advise borrower about loan programs and select loan program

  Finalize loan program and lock-in/float interest rate

 Provide RESPA documents and disclosures to borrower by fax or Internet

Loan Processor Services

 Request, receive, and review VOD/VOE, W-2/Income Statements, Asset Documents, Gift Letters, etc. using fax, email or regular mail

 Review loan application for deficiencies and fully complete it

 Prepare Transmittal Summary/ Worksheet and submit loan for manual/ automated underwriting

 Clear underwriting stipulations in association with loan officer

 Receive a final loan commitment

 Coordinate loan closing with closing/ settlement agent

B. Post-Closing Services

 Post Closing Review and Document Inventory – Loan files are shipped directly by the closing agent to us in Miami. These files are scanned and indexed and made available to loan review specialists at Inuva, India. Each document is reviewed for accuracy and checked against the lender’s list of closed files. Our follow-up desk tracks down all missing files and documents.

 Warehouse Banking Back office – Our capabilities include submission of a warehouse banking package with appropriate collateral including the note endorsed in blank to the warehouse lender within a stipulated period for banking or funding. We can perform for the warehouse lender note receipt and review, collateral allocation, uncommitted and committed sub-limit tracking and reporting.

 Government Insuring – We assist in the preparation of FHA and VA case binders following specific steps required to obtain government insurance. We also perform case submission and tracking, followed by coordination and confirmation with HUD. Completed MIC and LGC documents are similarly tracked and forwarded to the lender.

 GSE Pooling – Loan files are reviewed and certified for GNMA, FNMA, and FHLMC pool submission. A schedule of pooled loans is prepared as per investor guidelines. The pool of collateral files and the schedule are then shipped to the custodian in compliance with submission deadlines. Regular reconciliation of pending pool schedules is performed.

 Shipping and Delivery – Completed loan packages are reviewed for compliance with investor guidelines and “stacking orders”. Exceptions are cleared before shipping. Loans are shipped from our US operations center in time to meet investor commitment dates. Investor purchase decisions are logged and reported to the lender.

 Document Imaging – Our scanning department in the US scans and indexes all incoming documents with bar codes. The scanned images are available to our clients through the Internet using our proprietary image viewing software. Image copies are kept online for a year and thereafter transferred to backup media for longer-term storage. Imaging is a core activity that enables us to perform the majority of our operations out of our India center passing on the cost savings to you.

 Trailing Documents and Lost Document Recovery – Trailing documents received by us are scanned, inventoried and indexed. The documents are then forwarded to the investor. Follow-up calls are made to the relevant parties to track down trailing documents. If repeated attempts to retrieve the trailing documents are unsuccessful then a document recovery process is initiated to obtain copies or certified true copies through fax/ Internet