(877) 239-1118 info@parplussolutions.com

Services

Our firm is here to serve and simplify each transaction with our expertise and accuracy. This is your opportunity to enjoy top-notch services for a flat fee with no surprises. It is our goal to help our client streamline the mortgage process from start to finish while optimizing time and minimizing overhead costs.

Collecting documentation

  • Gather and review transaction-related documents, e.g; income, assets purchase contract and so on
  • Issue initial TRID and mortgage disclosures

Loan portfolio submission

  • Receive broker’s submission package
  • Review 1003 URLA
  • Evaluate credit and AUS findings

Submission of compliant documentation

  • Submit documentation to the lender
  • Obtaining case number assignments (if applicable)
  • Order appraisal title insurance and applicable verifications

Arrange supporting documents

  • Submit to under-writing
  • Obtain approval
  • Satisfy conditions
  • Obtain clear to close
  • Coordinate closing with the title company

Track the loan

  • Fund
  • Post-closing and file compliance

Policies and Services

As a mortgage and loan processing business, we guarantee convenient and accurate loan processing for all loan originators working with us. Being a recognized processing firm we assist mortgage brokers and loan originators from loan application to clearing UW conditions and then clearing the loan for closing. We also guarantee accurate document compliance within 24-48 hours of the loan closing.

  • Serves as subject matter expert (SME) regarding client’s processing policies, procedures and technology.
  • Review all loans and registrations for completeness and accuracy.
  • Serve as both originator and processor on loans. Responsible for generating Account Condition Letter (ACL) per Regulation B requirements.
  • Act as Member’s main point of contact throughout the entire mortgage process, ensuring excellent levels of member service by providing guidance/advice/counsel on the process, product, and pricing in a detailed and comprehensive manner.
  • Communicate to Client Processing Supervisor/MLO if unable to achieve a timeline or to resolve an error.
  • Escalate any fraud files to Risk Management and Loan Officer.
  • Determine the initial potential for qualification by evaluating credit history, income levels, and assets/liabilities; calculate debt-to-income and loan-to-value ratios.
  • Our Services to perform data entry to update all Parplus Portal and MLO loan files with notes regarding all actions that affect the loan per company requirements.
  • Restructure loan request and recommend for adverse action as needed.

 

    • Responsible for reviewing and addressing items involving loan product, credit, occupancy, and employment verifications and order verbal verification of employment (VVOE) for pay-off accounts.
    • Request action from Disclosure Desk and other internal partners as required by a valid change in circumstances.
    • Collect, analyze, and ingest documents to clear ACL conditions.
    • Update the loan origination system with the information from collected documents and re-run Desktop Underwriter (DU) or Strata as appropriate.
    • Reviews title reports, payoffs, appraisals, income documents, hazard insurance, and all supporting conditions for required standard compliance before underwriter submission.
    • Assemble and submit completed file to Underwriting (UW); clear manual conditions, cure title issues, resolve appraisal discrepancies with appraisal review group as needed.
    • Manage key dates; for example, lock expiration, contingency date, contract date, credit doc expiration, ECOA, MDIA, and other compliance-related dates.
    • Clear any prior-to-fund conditions that arise after final UW approval before passing the loan to closing.
    • Review HUD 1 Settlement statement for accuracy and provides it to the closing agent.
    • Remain the main point of contact with MLO through closing and funding and answer any questions that MLO may have (e.g. questions on the HUD).
    • Our services to Manage and cure any QC loan issues that require MLO communication.
    • As required, ensure proper re-disclosures are prepared and delivered to the member within regulatory guidelines based on the identified change in circumstances.

    Provide MLO and closing agent requirements and coordinates scheduling for completion of loan closing.

    Our primary objective in every mortgage transaction should be to borrow in a way that reduces debt, improves financial stability, and helps us get debt free in as short a time as possible!

    – Dale Vermillion

    Step By Step, Place Became Property, Property Became a Mortgage, And Mortgages Became Derivative Investments!

    – Douglas RushKoff

    Home Ownership can help you build wealth and provide financial security. What steps do you need to take to reach this goal?

    – Villy Choute