Frequently Asked Questions

Please reach us at info@mvprocessors.com if you cannot find an answer to your question.

What are best practices for brokers partnering with MVP?

Provide a full application and submission docs upon sending file to processing
Monitor all email communication and notifications from LOS
Be sure to share any complex or out of-the-ordinary details of the transaction
Keep LOS updated
Keep notes up to date on LOS
Reply all to all emails
Put borrower name in subject line of all emails
Do your best to introduce us to your borrower so they are aware we are involved with their process
Remain involved in the process to make sure we are working together for the borrower's benefit
Contact us with any questions during the process. That's what we're here for!

What should I tell my Borrower?

DO:

Inform the banker of any changes to your personal information - notify us immediately of any changes to your salary or compensation
Save your money
Save all paystubs, bank statements, W2s
Keep current employment
Be mindful of your credit activity between now and the closing
Be aware that any new credit inquiries will have to be explained and your new debt could affect the approval of your loan
Read ALL email communication from MVP and your banker

DON'T

What is our processing fee?

It varies depending on our Broker Partner needs, and the Service Tier agreed upon. Reach out for a quote today!

What services do we offer?

Send disclosures
Organize, set up, and submit full file to lender
Oversee process and liaise between LO, Borrower, and Lender to get loan to a speedy and successful closing

What LOS programs are we familiar with?

What lenders do we work with?

WHAT WE DO

Review and issue disclosures
Review file and request any information necessary to submit full le into underwriting per guidelines for each product.
Coordinating with all 3rd party vendors throughout the course of the loan i.e. escrow, title and credit agency.
Requesting conditions either directly from the borrower or the Loan Ofcer upon approval.
Ordering loan documents based on locked terms and comrming necessary fees for doc order.
Issuing CD within 3 days of closing.
Facilitate funding requirements.
Send documents electronically for signature.
All post-closing conditions.
Submitting an invoice to broker upon the clossing of the loan.
Processor will be available to contact client for condition request and questions relating to the conditions requested by the underwriting department. Processor will keep all correspondence with client in email and will include the Loan Ofcer as a cc on all correspondence.
Updating LO when disclosure are issued, when checklist has been emailed to client, when the loan is submitted, when conditions have been submitted and an accurate review of time will be supplied.
Processors will also run pipeline report once a week for the Loan Officer.

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