Characteristics of a Great Third Party Mortgage Processing CompaniesCharacteristics of a Great Third Party Mortgage Processing CompaniesCharacteristics of a Great Third Party Mortgage Processing CompaniesCharacteristics of a Great Third Party Mortgage Processing Companies
  • Inbound Calling
    • 24 7 Answering Service
    • Virtual Receptionist Service
    • Phone Answering Service
    • Customer Support Outsourcing
    • Outsourced Technical Support
    • Omnichannel Contact Center
    • Multilingual Call Center Services
  • Outbound Calling
    • Telemarketing Services
    • Lead Generation Services
    • Appointment Setting Services
    • Cold Calling Services
    • Outsource Telesales
    • Market Research Services
    • Survey Processing Services
  • BPO Services
    • Accounts Receivable Services
    • Accounts Payable Services
    • Back Office Services
    • Call Center Outsourcing Services
    • Certificate Intelligent Document Processing
    • Community Moderation Services
    • Data Management Services
    • Debt Collection Services
    • Loan Processing Call Center
    • Outsource Form Processing Services
    • Recruitment Process Outsourcing
    • Staff Leasing Services
    • Virtual Assistant Services
  • Industry
    • Healthcare BPO Support Services
    • Legal Outsourcing Services
    • BPO Real Estate Services
    • Insurance BPO Services
    • Retail Outsourcing Services
    • eCommerce Outsourcing Service
    • Mobile App Customer Support
    • HR Outsourcing Services
    • 3D Rendering Services
    • Travel Outsourcing Services
    • Telecom BPO Services
    • Education Process Outsourcing
    • eServices Call Center
  • Content Hub
    • Blog
    • Resources
  • About Us
    • Facilities
    • Sample Recordings
    • Message From The CEO
    • Management Team
  • Contact Us
  • #1 SME Call Center Services and BPO Outsourcing Provider in the Philippines
    • Board of Directors
    • Company Overview
    • 24/7 Reservations Call Center
    • Accounting and Finance Operations
    • Applied Engineering
    • Computer Aided Drafting Service (CAD)
  • About Us
    • Application Sent
    • Blog
    • BPO Solutions
    • Accounts Payable Processing
✕
Applying For Morgage With Call Center Loan Philippines
Advantages of a Loan Processing BPO
A blog banner by Magellan Solutions titled Why Go To a BPO Accounting Companies in the Philippines?
Why Go To a BPO Accounting Companies in the Philippines?

Characteristics of a Great Third Party Mortgage Processing Companies

A blog banner by Magellan Solutions titled Characteristics of a Great Third Party Mortgage Processing Companies

Characteristics of a Great Third Party Mortgage Processing Companies

What to Look for Third Party Mortgage Processing Companies?

Third party mortgage processing companies provide important benefits for businesses. It makes the service faster while saving so much money. Furthermore, training a team to do this can cost you more time. Besides that, hiring employees requires more HR-related tasks.

With this in mind, a lot of mortgage loaners and brokers outsourcing loan processes. It will reduce the time and effort you are exerting. It will also double your efficiency and accuracy in gathering information.

When looking outsourcing company, there are some things you have to consider:

Affordability

This is the main reason why you will look for a third party provider. Outsourcing any services can lessen the budget for manpower. Offshore companies provide affordable pricing compared to local employees. Additionally, you do not have to worry about the payroll system as they will do it for you too.

Data Privacy

People that provide information for loan application requires data security. When looking for a BPO company they must have a strict safety implementation. Furthermore, your clients will trust you when their information is safe with you. Your credibility will surely bring more loan applicants.

Expert Manpower

Your company is as good as the agents representing you. Thus, you must outsource to a BPO company with excellent employees. This will make the process efficient and accurate. Having a skilled loan processor can save you from tons of fraud applicants.

Advanced Technology

Aside from expert manpower, advanced software is also essential in operation. It helps centralize the data. With this in mind, it will easier to organize files. This will reduce the processing time of the loan. Besides that, loan organization software lessens errors in data gathering. It also provides real-time business transactions through auditing.

 

Steps in Outsource Mortgage Processing

The loan process can be a complicated operation. However, third party originator organized a procedure to make it fast and efficient. Not all BPO company has the same system. But, here are the most common steps:

  • Mortgage Pre-Approval
  • House Shopping
  • Mortgage Loan Application
  • Loan Processing
  • Underwriting
  • Closing

This process ensures that every transaction is legitimate. It also brings down the approved fraudulent cases. This is due to the sophisticated background checking for every loan applicant.

Besides that, loan software also helps in determining which loan should you approve. There is a database when you can see if the applicant has an unpaid loan from another company. With this in mind, you can easily eliminate this kind of prospect.

 

How Much is Mortgage Origination Outsourcing?

The real question is, is outsourcing cost you less than an in-house team? Yes! It is a proven and tested fact. In a recent study, a financial corporation will have to spend $312 for in-house servicing. Yet, you can narrow it down to $75 but outsourcing. Now that is a 78% cost reduction.

Furthermore, you can only save money from diminishing back-office-related work. There is also no need to worry about the payroll and benefits. The third party originator will provide it to their agents. All you need to do is to process all the approved loans.

 

Mortgage Outsourcing Companies in Philippines

Generally speaking, Magellan Solutions has the best mortgage outsourcing processes in the Philippines. We offer services for banks and lending firms. For first-timers, we have Implementation Managers to assist you with your needs. They can determine your KPI and the estimated manpower you need.

We have the most updated loan software to monitor your every transaction. Besides that, our skilled loan processors and agents can work on numerous files every day. Rest assured that everything is under control when you partner with us.

We guarantee that your borrowers get the excellent quality service that they deserve. Contact us today and get a free 60 minutes consultation. Please fill out the contact us form below.

TALK TO US!

Contact us today for more information.

    You can also contact our numbers:

    Toll Free:1 800 371 6224
    US:+1 650 204 3191

    UK:+44 8082 803 175,
    AU:+61 1800 247 724

    Share this:

    • Click to share on Twitter (Opens in new window)
    • Click to share on Facebook (Opens in new window)
    • Click to share on LinkedIn (Opens in new window)
    • Click to share on Skype (Opens in new window)
    • Click to share on WhatsApp (Opens in new window)
    Magellan Solutions
    Magellan Solutions

    Related posts

    Advantages of Different Set Up Outsourcing Philippines
    January 2, 2023

    Advantages of Different Outsourcing Set Ups


    Read more - Advantages of Different Outsourcing Set Ups
    November 6, 2022

    Reduce Risk and Expense with HR BPO


    Read more - Reduce Risk and Expense with HR BPO
    3D modeling techniques
    November 5, 2022

    Advanced 3D Modeling Techniques: A Quick Overview


    Read more - Advanced 3D Modeling Techniques: A Quick Overview
    Find A Home For Your Telemarketing Services in the philippines
    October 4, 2022

    Find A Home For Your Telemarketing Services In The Philippines


    Read more - Find A Home For Your Telemarketing Services In The Philippines
    Where is the Industry's Top Outsource Staffing Locations? banner
    September 22, 2022

    The Key Similarities and Differences of The Industry’s Top Outsource Staffing Locations


    Read more - The Key Similarities and Differences of The Industry’s Top Outsource Staffing Locations
    Close 90% of Your Sales with These Tried and Tested Discovery Questions for Sales Banner
    September 20, 2022

    Close 90% of Your Sales with These Tried and Tested Discovery Questions for Sales


    Read more - Close 90% of Your Sales with These Tried and Tested Discovery Questions for Sales

    Magellan Solutions Outsourcing, Inc

    California – USA (West Coast)
    100 Old Country Road Suite H, Brisbane, CA 94005, United States

    Florida – USA (East Coast)
    1900 South Harbor City Blvd, (East Coast Division) Suite 300 Box 48, Melbourne, FL 32901

    Philippines – APAC
    PB Mezzanine Floor, Summit One Tower 530 Shaw Boulevard, Mandaluyong City,
    Metro Manila 1552

    Philippines – APAC
    8th flr, Centris Cyberpod 5
    ETON Loop A, Diliman,
    Quezon City,
    Metro Manila 1103

     

    US: +1 650 204 3191
    UK: +44 8082 803 175
    AU: +61 1800 247 724
    hello@magellan-solutions.com

    INDUSTRIES


    Outsourcing for Legal Process BPO

    Outsourcing for HR Services BPO

    Outsourcing for eCommerce BPO

    Outsourcing for Real Estate BPO

    Outsourcing for 3D Service BPO

    Outsourcing for Mobile App BPO

    Outsourcing for Healthcare BPO

    Outsourcing for eServices BPO

    Outsourcing for Education BPO

    Outsourcing for Insurance BPO

    Outsourcing for Telecom BPO

    Outsourcing for Retail BPO

    Outsourcing for Travel BPO

    CALL CENTER OUTSOURCING & BPO SERVICES


    24 7 Answering Service

    Omnichannel Contact Center

    Customer Support Outsourcing

    Multilingual Call Center Services

    Lead Generation Services

    Cold Calling Services

    Interactive Voice Response System

    Staff Leasing

    Back Office Services

    Community Moderation Services

    Virtual Assistant Services

    QUICK LINKS

    About Us
    Sample Call Recordings
    News & Blog
    Resources
    Our BPO & Call Center Facilities
    Message from the CEO
    Privacy Policy

    ASSOCIATIONS

    Black and white Supplier Clearinghouse CPUC Certification Logo
    black and white philcall logo
    black and white Philippine Australia Business Council logo
    Black and white IBPAPlogo
    Black and white CCAP logo

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
    .
    SettingsI ACCEPT
    Privacy & Cookies Policy

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
    Functional
    Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
    Performance
    Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
    Analytics
    Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
    CookieDurationDescription
    _ga2 yearsThe _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors.
    _ga_EL2X6L0QDM2 yearsThis cookie is installed by Google Analytics.
    _gat_gtag_UA_6034499_11 minuteSet by Google to distinguish users.
    _gcl_au3 monthsProvided by Google Tag Manager to experiment advertisement efficiency of websites using their services.
    _gid1 dayInstalled by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously.
    Advertisement
    Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
    CookieDurationDescription
    test_cookie15 minutesThe test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies.
    Others
    Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
    SAVE & ACCEPT
    Powered by CookieYes Logo