Hire experienced loan processors in the Philippines to accelerate loan packaging and processing
Want to speed up how many loans can a mortgage processor handle? Outsourcing loan processing to the Philippines with full-time highly experienced loan processors will help you close more loans for up to 72% less in labor expenses.
To win more business against your closest rival in today’s increasingly competitive mortgage processing industry, you need to continuously find efficiencies in all corners of your operations. Outsourcing loan processing to the Philippines will help you optimize your loan packaging and processing tasks and increase your team’s overall productivity.
From evaluation to settlement, contract mortgage loan processors in the Philippines proficient in using the latest loan originator software (LOS) can slash 2-3 hours of processing time at a significantly lower rate per hour compared to their onshore counterparts, allowing you to write more loans without burning out your employees.
With the reduced time spent in processing paperwork on every loan you write you can set up your business for growth and increased profitability. For over 10 years we have helped many mortgage firms to be more efficient and profitable with these highly sought-after benefits:
Increased efficiency in underwriting
Increased capacity to write new loans
Faster processing turn-around-time
Streamlined packaging process
Agile resource planning
Lower stress levels and decreased attrition rate
Increased service level and customer satisfaction
Loan Processor Responsibilities
Evaluate the creditworthiness of loan applicants with specified parameters
Interview loan applicants to verify financial eligibility and viability of granting loans
Review initial loan approval and collaborate with the borrower to collect appropriate documentation
Gather all required documentation for the loan package
Create a loan submission package for the Underwriting department
Submit all required documents to assigned Underwriter
Satisfy all conditions when received from Underwriter
Ensure that approval completely meets established lending guidelines
Use professional judgment to identify which prospective borrowers qualify to be good risk opportunities for the company
Loan Processor Skills
Excellent communication and customer service skills
Experience in the consumer loan industry
Accuracy and strong attention to detail
Familiarity with banking applications/software
Ability to work in a result–driven environment
Demonstrable customer satisfaction orientation and sales competencies record
Comprehensive knowledge of direct/indirect lending products and practices
Excellent analytical and mathematical skills
Proficient in operating various Loan Originating Software (LOS)
Loan Processor Work Experience
Fresh graduate to 1 year of relevant loan processing and packaging experience
1 to 3 years of relevant loan processing and packaging experience
3 to 5 years of relevant loan processing and packaging experience
Loan Processing Tools
Typically, Filipino virtual loan processors are proficient in using the following loan originator software (LOS):
Save up to 72% on labour costs when you outsource loan processing to the Philippines.
Contact us to get your loan processor salary estimate and learn more about outsourcing in the Philippines today!