Mortgage companies have very intense documentation requirements. Since the great recession, there is even more focus on supporting documentation, requiring even more scrutiny on compliance. In many cases, the same documents are passed, beginning with loan origination and ending with closing documents, with all kinds of supporting documents needed throughout the process.
Assuring that each of these documents is present and meets the underwriter’s requirements, as well as Fanny Mae and Freddy Mac, can be quite a daunting task. Any loan not having the required documentation suite risks being delayed or possibly not funded.
ICS has extensive experience providing capture and classification solutions for mortgage brokers and lending institutions. We automate document capture, as well as streamline the management of incoming closing documents. In addition, we help ensure your underwriting department has all of the required documents by implementing workflow and automatic notifications. As these documents are passed between parties, we make sure the final package not only meets the bank’s documentation requirements, but also Fanny Mae and Freddie Mac’s documentation structure.