MTG Processor is one of the fastest growing contract mortgage processing companies in the country
We Process for many national mortgage brokers and lenders, with hundreds of loan closings per month.
We Process all lien positions on Non-Conventional, Conventional, FHA, VA, RD and Reverse Mortgages.
Our automated loan process can not be beat. We are one of the only Contract Processing Companies who are completely paperless.
Our web-based technologies allow for anytime access to your loan summary, loan status, loan comments, and documents uploaded, from any computer that can connect to the internet. All updates, and any documents uploaded are automatically sent to your email address for review.
Our contract processors that we employ have an average of at least 10 years of mortgage processing experience.
Our contract processors work directly with hundreds of different lenders, and have intimate knowledge of their program guidelines, and automated underwriting systems.
Our pricing model is simple. You pay a loan submission fee of $25.00. If your loan is denied for any reason, this submission fee will be credited toward the next loan you submit. You will be prompted to pay this submission fee using a credit or debit card. Once this payment is made, you can submit your electronic loan file to us. Once your loan is Funded, the following Processing Fee schedule applies to all loan types that we process (Non-Conventional, Conventional, FHA, VA, RD, and Reverse).
- Funded First Mortgages - $395.00
- Concurrent Second Mortgage (same lender) - Free
- Concurrent Second Mortgage (different lender) - $100.00
Our processing fee is payable to MTG Processor LLC. Our processing fee is listed on the HUD, and is paid when the loan is Funded. Our fee per loan file is $395.00 for Non-Conventional, Conventional, FHA, VA, RD, and Reverse Mortgages. Our fee for Construction loans is $500.00. We do not charge a fee for concurrent second mortgages that are with the same lender, and only charge $100.00 for concurrent second mortgages with a different lender than the first mortgage.
Our fee does not include costs that may be associated with Automated Underwriting Submissions, Verifications of Employment, Overnight Couriers, or Credit Reports / Supplements.
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