Unpleasant experiences in the past with ineffective lenders have left many people with a sour taste in their mouth when they consider finding a mortgage. They find that their needs are not taken care of and that the process takes much longer than originally promised. At times, they have even been left without a mortgage at all due to mistakes made or simply a lack of effort on the lender’s part to find a loan that works well for their personal situation.
As experts in the industry with decades of combined experience, the Morgan Financial team was able to pinpoint the flaws in the standard loan procedure and make some major changes. The process as it stands today proves to be far more effective than other lenders’ practices, allowing us to provide outstanding service and personalized mortgages in a timely manner.
Our Process
The Loan Officer
A client is generally referred to one of our loan officers either through a past client, realtor, or through other means that don’t require them to personally hunt down business. This referral-based system allows for the loan officer to spend less time on generating leads and more time gathering information, tending to the needs of their client, and maintaining a constant line of communication.
The Underwriter
At Morgan Financial, the documentation goes to the underwriter first rather than the processor. With the basic information of the client gathered by the loan officer, an initial underwrite is performed within 72 hours. The underwriter will collect a list of what is needed in order to close before the processing even begins.
The Processor
With the initial underwritten loan complete, the documentation list goes to the processor who then works closely with the client to ensure all the proper documentation is gathered at once and in a timely manner. This setup minimizes mistakes and prevents surprises for the client.
The Underwriter
The collected documentation is then sent back to the underwriter to check and clear for closing. This double-check alone helps to guarantee accuracy and allows for faster closing times.
Closing
We are there to see the loan through to the very end with a mortgage professional-attended closing for any last minute clarifications or questions that may need to be answered. With everything approved and in-hand, the loan is closed, and a new homeowner comes out satisfied on the other side.
As most Morgan Financial customers will attest, these adjustments have made all the difference in the mortgage loan process. If you or someone you know is looking for a mortgage and wants a smooth transition into their new home, please give us a call today!
