Contract Mortgage Processing Business

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How to start a Home Base Contract Mtg Processing
Posted by: Maritza Rivera Jul 16 2004, 08:52 PM
I have over 5 year of experience in Mortgage processing and Underwriting conventional loans for a Bank. I am not working now so I would like to start a contract Mortgage Processing Business from home but i do not know how to start. At the bank they had there own in house mortgage system so i do not know what mortgage software i whould nee, in other word i do niot know how to star to process mortgage loan from home. Can you help me.
Posted by: loanuniverse Jul 17 2004, 03:08 PM

I am only superficially familiar with the software used for mortgage loan processing. Therefore, I can not give you feedback about what you would need. Your needs will also depend on what it is that you are trying to accomplish.

If you are interested in doing contract work for an outsourcing company, but don’t want to work on getting the leads, then I am pretty sure that the outsourcer will provide you with the required software. The one problem that I see here is that unfortunately a lot of “work at home” programs are either a scam or pay very little. This means that you need to be careful about who you trust.

On the other hand, you could be thinking of really being a freelancer and working truly on your own. The biggest obstacle I see here is getting the contacts at the lender level that can feed you the work. Finding out the software that the particular lender uses should not be too difficult. I would imagine that the most lenders use something like this:

Good luck
Author: Commercial Loan Underwriter