Mortgage Post-Closing is a process that is performed after the mortgage document has already been signed. For more information, please click on below link: https://www.maxbpooutsourcing.com/mortgage-process-outsourcing .

1. All you want to know about
Outsourcing Post-Closing
Mortgage Audit
Mortgage Post-Closing - What is it?
Mortgage Post-Closing is a process that
is performed after the mortgage
document has already been signed. A
post-closing mortgage audit is
conducted to ensure that all documents
are compliant with loan processing and
underwriting rules. This audit is very
stringent and requires meticulous review. This is conducted by mortgage
outsourcing companies.
Steps followed in post-closing mortgage audit
 Review of Files: During this step, each of the mortgage related files from the
initial application stage till the final closing state is meticulously reviewed as per
the audit checklist by the mortgage processing companies. This includes
property information, underwriting report, appraisal information, and so on. The
findings of the review are noted.
 Re-verification of Finances: In this step, mortgage processing outsourcing
companies upload the files in audit software, and conduct re-verification of
employment details, income details, and asset details. This is done in a multi-
layered document verification system. In case of any discrepancy found, it is
flagged with a recommendation.
 Reporting Findings to the Senior Team: The mortgage loan processing
services providers then submit the final report to the senior team for final
review.
Why outsource a post-closing mortgage audit?
The post-closing mortgage requires meticulous quality analysis and review to
ensure that the loan approval process has been conducted as per the regulatory
requirements of government-sponsored enterprises. This requires a systematic
approach that can only be possible with in-depth knowledge and expertise.

2. Mortgage processing companies that provide a post-closing mortgage audit have the
required expertise and knowledge. Moreover outsourcing this process also has
other benefits.
Benefits of Outsourcing post-closing mortgage audit
 Adherence to Regulatory Compliance: Having in-depth knowledge of the
process and all the loan processing and underwriting regulations, it is easier for
mortgage post-closing service providing companies to complete the review
stringently and audit for compliance and completeness.
 Enhanced Accuracy: Being well-versed about the compliances and procedures,
professionals doing post-closing mortgage audits at outsourced mortgage
processing work meticulously to ensure zero error. They understand that a small
discrepancy can also compromise the entire process. Hence they are very
diligent and ensure multi-layer checking.
 Cost Advantage: Employing an in-house expert and providing the experts with
infrastructure and technology can be very expensive for the loan disbursing
company. Outsourcing this process to a mortgage loan processing service can be
a more viable option.
 Better Focus on core area: While the post-closing mortgage audit is taken care
of by the outsource mortgage servicing companies, the resources of the lender
organization can focus on their core activities and help in the growth and
development of the organization.
 Quick Turn-around time: As professionals handling a post-closing mortgage
audit on behalf of mortgage process outsourcing companies are highly
experienced and are experts in their fields, they can complete the process in a
shorter turn-around time than personnel without this expertise.
 Handle huge volume of business at a time: As the companies offering to
outsource loan processing services companies have a pool of professionals
conducting a post-closing mortgage audit, they can cater to high business
volumes at a time.
As the benefits of outsourcing post-closing mortgage audit outweigh the benefit of
conducting this process in-house, lending companies processing a large number of
applications should consider outsourcing their post-closing mortgage audit to one of
the reliable mortgage processing companies.
https://www.maxbpooutsourcing.com/mortgage-process-outsourcing