Processing and Documentation Services
The loan landscape is fraught with potential errors and compliance failures that can hamper your streamlined processes and damage your customer relationships and company reputation. Companies commonly deal with problems involving process management, decision-making, and the inability to deliver precise, accurate documentation while still providing consistent and open communication with potential borrowers, all of which can hamper your company’s growth.
Del Toro Loan Servicing offers expert loan processing and documentation services designed for accuracy and efficiency to help determine eligibility and compliance. From disclosures to cross-collateral deeds, Del Toro can provide assistance for all the challenges you may have within the loan processing life-cycle and manage your documentation.
Del Toro Processing and Documentation Services
As loan processors, we can compile all the necessary paperwork and documentation and otherwise ensure that the borrower has the best chance of obtaining approval before sending all documents to the underwriter. Our loan processing experts will double-check for all errors and red flags, including employment information and debt-to-income ratios, and maintain open communication with the borrower, loan originator, escrow companies, and all other parties involved.
Loan Documentation Preparation
Del Toro offers exceptional loan document preparation services. From tax returns, to collateral information, to financial history—all loans require extensive documentation that can easily get lost, mismanaged, or forgotten. Del Toro can help your company prepare all loan documents to ensure compliance while maintaining greater speed and reliability.
Lender and Borrower Disclosures
Lenders are required to provide disclosures throughout the lending process, which protect both the borrower and lender and make the process much less intimidating. Del Toro can help with all lender and borrower disclosures, including truth-in-lending, good faith estimates, and initial escrow account disclosures.
Our team can help borrowers prepare, manage, and view their documents and allow for open communication through each step of the loan processing procedures.
Using a property as collateral for more than one loan can come with risks, but our team of experienced loan processors can prepare cross-collateral deeds and help to ensure the financial security of the borrower and lender.
Providing added protections to lenders and credit issuers, personal guarantees essentially act as legal agreements wherein a business owner or executive promises to repay a loan in the event that the business fails to make payments.
Assignments refer to a transfer of property rights to another party via a legal written agreement.
Loan assumptions act as financing agreements that allow for the transfer of an outstanding mortgage and its terms to a buyer, which allows the buyer to avoid the process of obtaining their own mortgage. mortgage processing services
What is Loan Documentation?
Loan documentation refers to the submission of various documents by the potential borrower to the lender. The lender then uses these documents to determine the borrower’s overall creditworthiness. Legal loan documents can include:
- Financial statements
- Business plans
- The loan agreement or contract
- Credit history
- Documents of the lender’s security interests
All of these documents are stored in the borrower’s credit file and essentially create a complete look at the loan history that can be easily indexed for review by the loan processors, underwriters, and other parties involved. Lenders require as much information as possible in the shortest amount of time to evaluate a potential borrower’s financial situation while mitigating any problems if the borrower shows potential financial risks or difficulties.
The amount of documents involved can be intimidating but proper loan documentation is necessary throughout the lending process. The quality and accuracy of the documentation within the full loan portfolio is directly related to the potential approval or denial of the loan. Loan documents with errors or incorrect information can create issues within the overall process, reducing efficiency and causing further delays for both the lender and the borrower. Low quality loan documentation may also point to weak credit, which can lead to higher interest rates for the borrower or potentially prevent lenders from receiving full repayment as stated by the original loan agreement document.
Why Choose Del Toro Loan Servicing?
Del Toro Loan Servicing offers premier services for private lending professionals. We are dedicated to connecting brokers, lenders, and borrowers who share common values while building relationships and helping clients achieve their own goals. Unlike other loan servicing companies, we tailor our strategies to your specific needs and provide you with the attention and communication you deserve. Our team of experts is constantly learning and training to do things the right way to help you achieve the best results possible.
Our team offers years of experience and expertise combined with passion and curiosity to learn more to solve problems and provide clients with the best solutions. That means high standards, open communication, and a commitment to constant improvement. We also work with a huge network of professional partners, so if we do not have the right answers, we can connect you with the experts who do. If would like to learn more or want to get started with our loan processing and documentation services, please contact us through our online form or call us at (877) 597-7572 today.