1) Why should I hire a contract loan processor versus hiring a processor to work out of my office?
By hiring a Contract Loan Processor, you will cut down on extra expenses. When you hire a processor to work out of your office, you have to pay them salary or hourly plus commission. You will also have to provide them with office space, supplies, software, health insurance and much more which all costs money. By saving money on these extra expenses, you would rather spend the money on marketing to generate more loans.
2) Is it ok if I send one loan to try your service?
Yes. In fact we recommend that you do that. We want you to be 100% Satisfied before you continue using our services.
3) What is your Fee?
4) How do you get paid?
We get paid directly from Escrow after the loan funds. If the loan does not fund, then we don’t get paid.
5) How will I communicate with my loan processor?
You will be able to communicate by Phone, Email and Live Chat directly from our website. At any time you can also login with your username and password to check status of your loan.
6) Is there a contract or a long term commitment?
There is no long tem commitment. You can stop using our service at any time. However, there is a Contract Agreement that you would need to sign for legal purposes.
7) Does Unique Mortgage Processing originate loans for themselves?
No. We only process loans for our clients.
8) Is there a cancellation fee?
There are NO cancellation fees.
9) Can I use my own lender?
Yes. Most brokers and Loan Officers prefer that we use their list of lenders.
10) Which states do you provide service for?
Even though most of our clients are located in California, we also process loans for brokers and loan officers nationwide.
11) Will you sell or distribute my information or my borrower’s information to other companies?
We guarantee in writing that we will never sell any information to anyone.
12) Will I be working with the same processor every time?
Yes, that is one of the benefits you will have when working with us.
13) What is your turn around time?
Once your file is received, it will be submitted to the specified lender within 24-48 hours. We cannot control turnaround times for lenders but we aggressively follow up with your file. Remember that we only get paid when the loan funds, so we push hard to close every loan as quick as possible. Our usual turnaround time is between 10-14 business days.
14) How do I send you the file?
Files can be sent to us in 2 easy ways. Secure fax and email.
15) What do I need to send to get the file started?
You will have to send us a 1003, FNM 3.2 file, credit report and the initial disclosures required. We will do the rest.
16) Will I be using my own appraisers, escrow, title and lenders?
Yes.
17) Will you contact my borrower?
We will only contact your borrower if told to do so.
18) How can I get an update on my loan?
Once you sign up with us, you will create your own username/password where you can get up-to-date status on your loans. Loan status will also be emailed each time your loans are updated. You can also contact us by phone, email or Live Chat to check the status of your files.
19) Which lenders do you work with?
We will work with any lender that you request.
20) How do I qualify for the 1 Free Loan Offer?
In order to qualify for the 1 Free Loan Offer, you must meet the requirements listed below.
a) You must be a new client.
b) You must close minimum 4 files within the first 30 days. (5th loan will be FREE)
c) We must not have to submit each loan more than twice.
(Please note that the 1 Loan Free Offer is for a limited time and is subject to change without further notice)
21) Is there any service you do not provide?
We will never sell the loan to your borrower. That is the originators job.
22) How do I start using your service?
Please fill out the ONLINE APPLICATION located at the bottom of our home page. We will contact you within one business day.
In case we did not answer your question, please contact us at info@uniquemortgageprocessing.com and we will be happy to further assist you.
