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In the mortgage industry it is often difficult to predict monthly volume. Therefore, monthly revenue can be difficult to predict as well. By outsourcing your loans to O.C. processing, you eliminate the costs associated with the hiring and training of processing staff. FInally, we can also contribute to your staff in times when production is high, and there is a need for additional processing resources on a temporary basis. How do I order services through your company? Files may be transferred via e-mail or through a secure file transfer from your LOS. Begin by exporting the file into an electronic format and then e-mailing, or electronically sending the file. Sending a file in this format requires some additional documentation. Please refer to the instructions included here for more details. If you are not able to electronically submit a file, you may fax the loan application, credit report, good faith, truth in lending, and borrower's certification to (951) 346-9428. The file will be entered into our system manually for no additional fee. O.C. Processing provides bundled services, as well as individual options. Fees vary depending upon the service provided, the fees will vary. All of our fees are listed on our fee schedule. Do you offer a way to check status online? O.C. Processing does provide you with status online, as well as a folder for each loan file which contains the documents associated with the transaction. For more information on the status online and documents online, please click here and you will be redirected to that page. What lenders do you work with? O.C. Processing hasexperience with over 200 lenders in the past. Our processors can complete loans for wholesale as well as correspondent investors. If you have a question in regards to a lender we have worked with, please contact support@myocprocessing.com and one of our agents will answer your question. Who orders third party services? You have the option of O.C. Processing ordering services through their own providers, having our company order them from the providers you list on the submission form, or ordering the services yourself, and providing O.C. Processing with the contact information to obtain the services you ordered. Your company orders credit reports through the provider you have an agreement with. O.C. Processing is not a mortgage broker or lender, and does not have any agreements with credit report service providers. What is the process for ordering loan documents? Once you have received notification that the loan documents can be ordered, you must fill out the document order form, and send it back to your processor with your signature on the form. When your processor receives the signed form they will proceed to order the loan documents. Who obtains required documentation from the borrower? O.C. Processing gives you the option to be the contact for the borrower on the loan, or to have your processor contact the borrower. Your processor will inform you when additional items are needed, and will ask how you would like the borrower to be contacted. The processor will not contact the borrower without your approval. Who is responsible for sending loan disclosures? O.C. Processing does provide the option to have loan disclosures sent to your borrowers. If you utilize this option your processor will review the disclosures with you, and will send them via overnight delivery, or through a secure e-mail channel. Please submit orders for disclosures prior to the third business day in order to comply with federal timelines. What types of loans can you process? O.C. Processing is experienced processing a variety of loan types, including FHA, VA, Conventional, Subprime, Commercial, and Venture Capital. For a more detailed list of the types of loans we process please click here. O.C. Processing does not charge a processing fee if the file does not close, however we cannot guarantee that you will not be charged a fee for third party services. How long is the process from submission to close? Typical loan files will close within 10-15 days. However, this timeline may vary due to the unique nature of each file and the different time each investor requires to review and fund loans. Is O.C. Processing a mortgage broker? O.C. Processing is not licensed as a mortgage broker through any state agency. We are a loan processing service provider. How do I contact my processor? You may contact your processor via e-mail or phone. If you do not have the contact information for you processor, please click here to be directed to our contact information page.
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