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What We Do
- Once we have contracted to with you, we will secure a local phone line, in
your area, that will ring at our office for you and your Borrowers to use.
- A Welcome Letter is sent to the borrower
identifying SDS Processing as their Contract Processor, providing
contact information, a file number and an Items needed list.
- We input the application and liabilities into
our computer to verify ratios for the loan.
- We review the file for compliance and any
missing disclosures.
- We order all VOE’s,
VOD’s, VOM’s and VOR’s
- We order title work and any
payoffs. (In Broker's name)
- We order the appraisal, using the appraiser
of your choice. (In Broker's name)
- We submit a complete package to the investor
of your choice for approval
- We track the time spent underwriting the
loan, and we contact the investor if we do not receive an approval within 72
hours.
- Immediately upon underwriting approval (or denial),
we fax a copy to you.
- We will contact borrower and request any additional
conditions needed.
- We will coordinate and schedule closings.
- We will call the borrower to confirm closing
time and location.
- The loan package is returned to the broker’s office
after funding.
- A Thank You letter is sent to the borrower
after funding.
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We will use your attorneys and appraisers as requested.
- We will follow the process of the loan from START to
FINISH.
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We only ask for assistance from the Loan
Officer when we have exhausted all of our resources to obtain documents or
information required to close the loan.
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We will only contact the borrower upon
your approval, we do ask for permission to contact the borrower in all loan
cases to relieve you of unnecessary phone calls and to expedite our services
to you.
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If the loan "changes" we will forward
information to loan officer so loan officer can explain the change to the
borrower(s).
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