We're here to help you make the most of your possibilities and assure your success at every step of the way. Westmont Solutions provides a full range of mortgage processing services across the entire loan lifecycle. We empower lenders so they can unharness their teams on producing quantity and elevated sales.
Initial Disclosures
Review 6 pieces of information that triggers Loan Estimate
Analyze 1003 application, credit report, fee worksheet
Update SSPL
Print & send initial disclosures to the borrower(s) via client's LOS (multi-state & state-specific disclosures)
Loan Setup
Index loan documents
Update client’s loan origination system (LOS)
Verify if the LOS has been properly updated
Loan Processing
Verify and review signed disclosures for accuracy & completeness
Verify if the LOS has been properly updated
Order documents from third party services - VOE, VOD, VOM, VOR, flood, title, hazard, appraisal, and tax
Submit to underwriting
Underwriting Support
Review 1003 URLA application form for completeness of the information.
Review credit reports and highlight red flags, fraud alerts, public records, SSN alerts
Accurately calculate income as per documentation provided
Verify employment stability and identify any red flags in income documentation.
Necessary conditions to fulfill agency guidelines/lender overlays
Verify assets submitted, large deposits, liquidation, recurring debits, etc.
Review appraisal, preliminary title report, hazard insurance, flood certificate, and condominium documents
Adding necessary notes of review not limited to income calculation comments, asset verification, credit report finding, and property documents review.
Upload income calculation worksheet. Additional research documents (employer search, asset deductions, etc.)
Submit findings to underwriter for review
Prefund Quality Control
Westmont Solutions can assist lenders with pre-fund quality control audits to ensure that loans are not closed with defects. Pre-funding audits must be a part of a comprehensive mortgage origination review process. These audits reveal defects in a pending loan transaction that must be addressed before the deal closes.
We examine income and liabilities to see whether the underwriter's calculations are accurate.
We check to see if adequate assets and income have been validated.
All documentation pertaining to origination, processing, and underwriting are thoroughly reviewed.