Lendsoft Pro

Loan Origination

Loan Originators use tools to generate both AUS’s to get better credit worthiness, document verification from borrowers, synchronization, during the loan origination processes.
Request a credit report.
Ensure all documents necessary for the loan process are in from the borrower with minimal fuss to MLO's.
Our experienced processing associates make sure the loan application is complete in all aspects and ready for processing.

The Loan Processor will generate and send Initial Disclosures to all borrowers.
To order Title Report, Check VOE and Assets, Order property inspection/Appraisal if required only after the Borrower has signed the Intent to proceed and Initial disclosures.
Submit all income, assets, credit, signed disclosures, and other relevant documents to the underwriter.
Loan processors gather documentation about the borrower and property, review all information in the loan file and assemble an orderly and complete package for the underwriter.
Send out redisclosures as needed (rate lock, changes to loan amount/loan program/impound account).
Coordinate with the MLO, settlement agent, insurance company, HOA management company, Appraisal Management Company to get the conditions/documents needed to get the full underwriter approval.
Send Initial Closing Disclosure to the borrowers once we have full approval.
Once the investor provides the clear to close, coordinate with the settlement agent to balance the final CD and make sure the final CD passes all compliance requirements.

Our Inhouse Underwriters review all the documentation prepared by the loan processor in the loan package. We ensure / cross check to see if the borrower and property match the eligibility requirements of the loan product for which the borrower applied.
We evaluate the borrower's credit history and their capacity to repay the loan. We check for any discrepancies/inquiries, doubtful transactions in the bank statements, and cash to close.
The Underwriter reverts the loan to standard and approved conditions which need to be approved and closed for funding.

The objective is to make sure that the loans are documented in compliance with investor and state and federal regulatory standards and also meet the warehouse bank’s requirements before the loan is funded.
To ensure borrower info, disclosures, CTC documents, Flood Cert, Disaster zone check, AUS, Prelim, Closing Disclosures, CPL, Wire, Invoices, Payoff, EOI, Vesting in Title are complete before the funding process.
Request for any PTF docs required by the loan processor.
On document verification, work with the settlement agent to disburse the funds.