Contract Underwriting Services

Precise Mortgage Processing, Inc. is pleased to offer Contract Underwriting Services to our Correspondent Lenders or Brokers requiring Underwriting Services.  Our team of Underwriters have been trained to underwrite to the Agency Guidelines (FNMA.FHLMC), as well as Conforming and Non Conforming Products offered by your Lenders.  Our Underwriters have reviewed and underwritten over a million files in various states.  Our Underwriters have the most updated Underwriting System that will interface with FNMA, FHLMC, and almost all Lenders.  We are highly skilled on reviewing and underwriting Appraisals, Inspections, and Income Analysis for all types of Borrowers.

 

Would you like a One-Stop Processing Service?  Precise Mortgage Processing, Inc. is offering Processing Services as well as Underwriting Services.  Please take advantage of both wonderful offers!  We are offering both Simple Underwriting and Complete Underwriting. 

 

 

HOW IT WORKS:

 

Simple Underwriting:

Do you need your file run through one of the Automated Underwriting Systems but do not require Full Underwriting or Processing?  Simple Underwriting allows our Underwriters to run your loans DU, LP, or Asset-Wise upon your submission of the 1003.  We will fax or e-mail you back the Findings, Credit Report, and Underwriting Analysis according to the Lender's Guidelines.  This will make the process of gathering conditions or submitting to the Lender a smooth, streamlined process!  We offer AUS Underwriting on all loans, inluding:  FHA, VA, Conventional, and Non Conforming. 

 

1.  E-mail or fax your completed 1003 & 1008.  We will have an Underwriter review and run AUS within 12-24 hours. 

 

2.  You will receive an e-mail or fax of your Findings, Credit Report, and Underwriting Analysis.

 

3.  Start collecting your conditions and submit package to Lender.  If you have submitted your loan to Precise Mortgage Processing, Inc. for Processing, this service is included in the Processing Fee.  No Additional Fee will apply!

 

 

Complete Underwriting:

Is your company in need of a Contract Underwriter?  Complete Underwriting offers full underwriting according to your Lender's Guidelines as well as FNMA and FHLMC Standards.  We will run your loan through AUS, condition accordingly, and clear outstanding conditions within our guaranteed timeframe.  We offer Complete Underwriting on the following loans:  Conventional, Sub-Prime, and Non-Conforming (including 2nd Mortgages/HELOCS).  Prior to closing, our Underwriters will transfer your file to our Quality Control Department to preform a Compliance Audit of the file. 

 

1.  E-mail, fax, or overnight your file to our Underwriting Department.  We will have an Underwriter assigned immediately and your file will be reviewed within 24 hours.

 

2.  Within 24 hours, you will receive your Conditional Approval.

 

3.  All Conditions submitted to be cleared, will be reviewed and cleared within 24 hours. 

 

4.  If you fund your own loans, we will schedule closing with your Funding Department after our QUALITY CONTROL AUDIT has been performed.  If your Lender will fund the loan, we will coordinate that with their Funding Department.  Precise Mortgage Processing, Inc. will ship the completed file to the Lender post closing or as they require.

 

5.  If you have also submitted the file to Precise Mortgage Processing, Inc. for Processing, please see below for special rates!

 

 

OUR FEES:

 

~Simple Underwriting:  $50.00  (Free if using Precise Mortgage Processing, Inc. for Processing Services)

~Complete Underwriting:  $175.00 (if using Precise Mortgage Processing, Inc. for Processing Services)

                                        $225.00 (Underwriting only with no Processing Services)

 

You will receive an invoice when Underwriting Request is received.  Our payment terms are 3 Days Net.  We also offer Online Visa/MasterCard Payments for your convenience.

 

 

Call or e-mail today to get started!  Don't forget to learn about our Processing Services!