USDA Mortgage Loan Support Services

Pre-Qualification

We start the USDA mortgage loan process by confirming the eligibility of the applicant and assisting you with all kinds of pre-qualification services to spring the mortgage loan into action. The process covers -

Inspecting the legal capacity of the applicant as per the USDA mortgage loan regulations

Verifying the applicant's financial resources to recompense the loan, validating eligibility based on income and citizenship status, etc.

Applicant's credit history

Collecting and maintaining your applicant's vital information at the back-end

Pre-Approval

A varying USDA loan volume can make it hard for you to sustain a stable profit. One of the reasons for loan volume fluctuation is a disorganized loan pre-approval approach. However, at FWS, we follow a systematic loan pre-approval process that incorporates a thorough verification of applicant's employment history, credit history, debt history, pay stubs, W-forms, and other necessary documents. Thereby, we create an applicant's profile and store in the CRM. The next step involves sending the verified file to the underwriter.

Property Inspection & Subsidy Requirements

As a foremost USDA mortgage loan support company, we have enough expertise and experience to help you document property eligibility as per the USDA guidelines. We can compile, store, and review all the mandatory details like borrower's geographical location, prerequisites for taking a loan under "rural property", property category, and occupancy information. And after the loan is sent to underwriting, the accurate borrower's record will help you determine the applicant's repayment capacity and allow you to assess whether a loan can be approved or not. We will maintain all those details in the CRM system and you can access those whenever you want.

By choosing us for back-office support for USDA mortgage services, you will also have in-depth knowledge of your applicant' eligibility for payment subsidy.

Agreement & Appraisal

Flatworld Solutions is one of the pioneers USDA mortgage loan support services company where we render full back-office USDA mortgage loan support solutions, helping you chart the purchase agreement, create appraisal records & reports, and follow-up with the underwriting team for other requirements. This will help you reduce the clutter of information lying in your premise and improve the communication between the underwriter and loan processor.

If you want to keep a record of the reimbursement details for certain items paid by the borrower, including earnest money deposit, inspection fees, legal fees, engineering services, etc., we can do that too.

Processing and Closing

As a mortgage lender, you are responsible for determining the amount of the collection from your borrower. You also need to decide that your applicant does not neglect his or her financial responsibilities as it is a precursor for timely & full collection. Thus, the underwriters you rely on must perform a thorough analysis of the property.

At FWS, when we team up with the underwriter, we make sure that the information they receive is rock-solid. After the completion of the underwriting process, we start going through the closing documents. Later, we compile the "Clear documents" to "Close documents" vis-à-vis the loan amount, payment terms, and rate of interest.