Banks are working hard to manage operational costs, comply with ever-changing industry regulations, find the right talent, and adapt to newer technologies. It has become essential for Residential Mortgage Divisions of banks to optimize their operations to take on more loan volumes and deliver an enhanced customer experience to its borrowers. We see banks and mortgage lenders struggling with their profit margins, and as a result, a growing number are partnering with companies that provide an end-to-end fulfillment services.
Banks find the partnership with a mortgage end-to-end service provider to be more cost-effective, efficient, and scalable option in these competitive markets.
Our team at PrivoCorp helps mortgage divisions of regional and national banks:
- With end-to-end mortgage fulfillment
- We offer back-office support right from Underwriting to Closing and finally till Post-closing
Working with PrivoCorp can help save time and costs while giving you a competitive advantage.
We are also the only service provider who serves our banks and mortgage lenders with a full scale of services in a mortgage lifecycle. Our multi-state footprint*, self-motivated teams, automated workflows, and intelligence powered by RPA and AI technologies and digital compliance ensures operational efficiency and customer satisfaction with our clients.
*For current list of states licensed – visit
https://www.nmlsconsumeraccess.org/
- Loan Document Indexing: Collect & Review Borrower Documents
- Order VOE, VOD, VOM and VOR
- Order VA and FHA Case Numbers for Government Loans
- Order Appraisal, Title, Hazard and Flood Certificates
- Order VA and FHA Case Numbers for Government Loans
- Order Tax Certificates
- Generate LE and TIL Disclosures
- Collect Signed Disclosures and Verify
- Verification of HOI (Homeowners Insurance)
- Title Search & Report Preparation
- Credit Review
- Contract Review
- Review Flood Certificate
- Review Appraisal Report
- Fraud Review
- Title Review
- Document Preparation
- Scheduling of Closing
- HUD Reviews
- Closing File Review
- Recording Support
- Post-closing Review and Exception Curing
- Suspense / Exception Reporting
- Trailing Documents
- Investor Guideline Review
- Final Document Indexing
- Loan Boarding
- Document Management
- Loan Administration
- Escrow set up and Administration
- Default Administration
- Investor Reporting
- Payoff
- Loan Review – Post closing
- Servicing QA and QC
Benefits of partnering with PrivoCorp
- Headquartered in Austin, TX with locations in Dallas, TX, Singapore and India
- Experience working with all the leading LOS, Compliance and Servicing platforms
- Flexible engagement model to help you reduce fixed costs
- SSAE 18 compliant (2021 SOC 2 audit in the process)
