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Mortgage Loan Origination Process

To opt for a process or facility, it is important to have thorough knowledge about it. Only then can you make best use of it and even refer it to the people who are dire need of it.

Hence, a little briefing on what is mortgage loan origination process:

Mortgage loan origination process can be defined as the process which involves multiple steps that every user must go through while he is intending to obtain a mortgage or any type of other loan. While going through mortgage loan origination process, borrowers are ought to submit various types of financial information with their documentation to a mortgage lender, comprising of tax returns, payment history, credit card information and bank balances as well. Mortgage lenders utilize this information to define the type of loan and also the interest rate for which the borrower can be eligible.

Now comes the sort of activities that need to be undertaken during mortgage loan origination process:

  • Evaluate the key players and phases in the loan origination process.
  • Achieve understanding into the mortgage loan origination process and gain tips on operative loan application communication.
  • Obtain perspective on what underwriters exactly want in loan files in order to foresee problems to in order to avoid them on time.
  • Practice some of the crucial financial calculations related with mortgage loan origination process.
  • Review the significance of borrower communication and how it can successfully or adversely affect loan origination.
  • Examine each and every step of the loan cycle right from its origination with funding and servicing and also study about the roles of various people involved in the mortgage loan origination process.
  • Scrutinize the Uniform Residential Loan Application in detail to make sure that everything is in compliance.
  • Determine how to fulfil underwriter requirements and avoid any pitfalls in mortgage loan origination process.
  • Discover about the errands of the title company and information about post-closing process.
  • Comprehend the acute elements of borrower qualification like credit capacity, credit character etc.
  • Analyse the basics of property ownership during mortgage loan origination process.
  • Survey the process of property appraisal process.
  • Revise calculations as they affect debt ratios, borrower income and even the loan amount.
  • Also assess the contents of a credit report while mortgage loan origination process.

Now, we come to what features does IBN offer in Loan Origination process:

  •  Loan Acquisition – In mortgage loan origination process, IBN does lead generation with the help of emails and calls.
  •  Loan Document Indexing – Evaluation and indexing of preliminary mortgage documents received successively as the mortgage is underwritten and dealt with.
  •  Loan Boarding – Assessment of received loan documents to scrutinize whether the documents are apt for underwriting.
  •  Loan Registration – Another step during mortgage loan origination process is that where loans are registered on the origination system using the application form that has arrived from the brokers.
  •  Loan Document verification – Verification of loan documents (Income / Asset Verification, Employment verification etc).
  •  Fraud Detection – Cross verification of records to detect if there is any kind of fraud.
  •  Insurance Processing – Here we cover processes related to Flood, Title, Appraisal, Home Owners Insurance processing.
  •  Compliance Quality Review – Mortgage loan origination process at IBN is always at par with Good Faith Estimate as per RESPA guidelines. Corrections and reprinting of disclosures are also done, if needed.
  •  Conditions Processing – At this stage reasons are revised for loans that are on-hold status.
  •  Underwriting – We during mortgage loan origination process, deliver underwriting support services that include Conditions Review, Quality Control, Credit/ collateral/ capacity review as well.
  •  Closing and Funding – Closing and Funding stage at IBN includes Loan Document preparation, Review loan documents, File Audit & QA, Draw loan docs, Pre-Funding Risk Review, Reconcile closing fees, HUD 1 Reviews, Wiring instructions & conditions verification, review executed documents/ loan funding, Accounting & Reporting.
  •  Post-Closing – Post Close Review/ HMDA Audit during mortgage loan origination process involves Title Recording Confirmation, Mortgage Electronic Registration Systems (MERS) Registration, Trailing Docs Tracking, Docs Retrieval, Data Integrity Audit.
  •  Quality Control & Shipping – IBN takes care of Pre-shipping Quality control, Fannie Mae Compliance, Defect Tracking of Files, Defect Removal & Purchase Clearance, Re-purchasing processing, Scratch and Dent, Stacking Order (FHA/VA) during mortgage loan origination process.
  •  Secondary Marketing – IBN also offers secondary marketing which renders Loan Document review, Quality Control, Due diligence, Loan Sales, Pricing, Hedging, Purchasing & Settlement.


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