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Potential ways to benefit from SLK Global's expertise and resources:
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Reduce net cost to originate per loan (e.g. direct loan production expense) by
combining your front-office staff and our low cost back-office resources
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Improve pull through rate (e.g. application to funding ratio) by leveraging our
24x7X365 processing and customer service capabilities
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Reduce loan closing time (in some cases by over 60%) by using our loan closing
package verification services
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Use data keying, document indexing and underwriting support to increase
efficiency of origination process (and potentially reduce loan origination fees)
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Manage regulatory compliance and reduce risk by using our pre-funding and
post-closing quality control services (e.g. increase percentage QC coverage
without increasing costs)
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Manage volume spikes (e.g. refinance, volume growth) without adding fixed costs
leveraging our pay-per-transaction pricing
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SLK Global commenced offering Mortgage Services with simple functions like data
entry (loan registration) and indexing of loan documents. We now offer a
comprehensive range of services like closing documents review, (contingent)
underwriting, postclosing review of conventional and FHA/ VA loans, loan
modification and payoffs. Approximately 51% of our banking business comes from
mortgage and consumer lending.
SLK Global offers a wide range of services for the Residential Mortgage Loan
Origination and Servicing functions for a variety of loan products originated
through either the retail or the wholesale channel.
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Services Offered
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Loan Origination
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Loan Servicing
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» Loan Acquisition
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» Loan Boarding
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» Loan Boarding/ Registration
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» Escrow Management
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» Loan Processing
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» Customer Service
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» Conditions Processing
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» Loan Modifications
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» Underwriting support
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» Payoff Processing
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» Compliance Quality Review
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» Default Management
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» Closing and Funding
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» Investor Reporting
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» Post Closing
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» Bank Reconciliation
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» Secondary Marketing
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Products Supported
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Fixed rate mortgages
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Government loans
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Adjustable rate mortgages (ARMs)
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» FHA
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Jumbo loans
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» VA
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Non-conforming loans
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Our service span across the complete mortgage lifecycle from loan acquisition to
servicing:
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Loan Origination
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Loan Acquisition - Lead Generation services through emails and calls
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Loan Processing
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Loan Document Indexing - Review and indexing of initial mortgage
documents or documents received subsequently as the mortgage is underwritten and
processed
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Loan Boarding - Evaluation of received loan documents to check whether
the documents are sufficient for further processing of the loan file, including
for underwriting. Keying in all customer, loan, property and other information
into the system
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Loan Registration - Registration of loans on the loan origination system
using the application form received from the brokers
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Loan Document verification - Verification of loan documents (Income /
Asset Verification, Employment verification etc)
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Insurance Processing - Flood, Title, Appraisal, Home Owners Insurance
processing
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Compliance Quality Review - Review of Good Faith Estimate for compliance
to fee amounts and variance as per RESPA guidelines. Corrections and reprinting
of disclosures, if needed
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Conditions Processing - Review reasons for loans on hold status. Research
to find relevant documents and update status of loan
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Underwriting - We provide underwriting support services including
Conditions Review, Quality Control, Credit/ collateral/ capacity review
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Closing and Funding - 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
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Post Closing - Post Close Review/ HMDA Audit, Title Recording
Confirmation, Mortgage Electronic Registration Systems (MERS) Registration,
Trailing Docs Tracking, Docs Retrieval, Data Integrity Audit
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Quality Control & Shipping - 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)
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Secondary Marketing - Loan Document review, Quality Control, Due
diligence, Loan Sales, Pricing, Hedging, Purchasing & Settlement
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Loan Servicing
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Loan Boarding - We can assist in functions like welcome calls, setting up
of loan information on the servicing system and verifying information and
validating that all required documents are in the loan file
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Payoff Processing - We provide services like application of payments as
well as payment exceptions. Other payment services include: payment checks
exception processing, posting of exceptions checks to the right account,
correcting misapplied payments and processing excess funds sent in by customers.
Mortgage payment returns and bankruptcy warnings are also handled
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Escrow Management - Escrow Management include escrow account maintenance
and related services - creation, modification, maintenance and deletion of
escrow accounts. Typical services include calculation of escrow payments,
utilization of excess funds towards escrow payments, research of surplus funds
in customer escrow account, research and generation of reports of Principal,
Interest, Taxes and Insurance (PITI) paid, Tax Management services, Insurance
management services (Hazard Insurance, Flood Insurance)
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Lien Release - These special set of functions involve mortgage loan
payoff, processing after the loan payoff, closing of the loan account and
releasing the lien on a property
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Loan Modifications - Modification of the loan account information, based
on changes to the loan conditions, or as requested by the customer. Examples
includes modification of loan terms and conditions, including loan types,
payment amount, term, etc
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Customer Service - We support several different kinds of loan account
servicing requests which include address changes, 1098 forms, transaction
history, waiver of fees, ordering of payment coupons, closure of loan account
and request for statement of amortization schedule etc. Another critical
function is correction of entries on the credit reports of customers
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Default Management - Early stage collections/Late Stage Collections,
Foreclosure processing
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Investor Reporting - Generating investor accounting reports
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Bank Reconciliation - Reconciliation of funds deposited
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