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Origination

Originations – Introduction:

Choosing Nexval as your partner for all origination services guarantees streamlined processes that are able to meet the challenges of the ever-evolving mortgage industry. It is Nexval’s goal to deliver customers a complete transformation of their origination process through automation and re-engineering, thereby reducing costs, increasing quality and gaining efficiencies for its customers.

 

Loan Boarding and Set Up:

Nexval’s loan boarding solution combines the use of Loan Verifier, a historical verification tool, with targeted manual reviews and automated data checks for a cost effective and highly accurate loan boarding experience. Nexval understands that detailed planning, adaptable and scalable systems, and a flexible problem-solving approach are all critical to successful transfers. During the entire process, Nexval works closely with its’ clients to ensure that regulatory requirements, along with governance and operational migration is conducted with professionalism, timeliness and close attention to detail.

 

Application Processing:

Nexval takes the application review process out of its customers’ hands by reviewing, assessing and completing the application process. Nexval’s trained staff will provide loan application review, examination for missing documents, collection of required documents, and ensure every part of the application contains complete and accurate information. This includes a pre-underwriting review before Nexval completes the process.

 

Pre-Underwriting

As part of its Application Processing Review, every application goes through an intensive pre-underwriting review. This ensures that the application and its supporting documentation come back to the customer ready for processing.

 

Origination Underwriting:

Nexval’s contract mortgage underwriting services include Credit, Income, Asset and Collateral Analysis, Appraisal Decisions, Regulatory Compliance, and recommendation of loan decisions. Nexval underwriters are highly trained on mortgage procedures, documentation and federal regulations. Nexval adapts to its customers’ processes offering a seamless and consistent experience from start to finish. Nexval is there to help its customers manage volume, reduce operational costs, and grow their residential loan originations.

Forensic Underwriting:

Nexval has done re-review of closed loans for litigation purposes for many years. The process consists of indexing and file organization, close examination of in-depth loan quality control due-diligence, 100% review of data input, highest scrutiny of tolerances for all federal, state and local regulations at the time of the original underwriting. Final analysis of each loan against applicable rules and regulations as well as lender policies in effect at the time. Superior reporting through our VQAudit software. And, lastly,final loan summary of overall portfolio quality, necessary for cross examination while under litigation.

 

Closing:

Nexval provides document preparation including prescreening and data integrity to ensure the loan is acceptable for final closing docs. Nexval closers will confirm closing date and fees and requirements for third party settlement agents. Nexval validates all closing services by using a customer approved checklist to ensure that all documents are included and that there are no mismatches in the file. Reviews are conducted in line with customer and industry expectations. Nexval can order flood certs and insurance if requested.

 

Post-Closing:

Nexval offers its customers a professional and efficient review of post-closed loans, streamlining the entire process for its customers. Nexval’s post-closing back-office services include an in-depth auditing and reporting process to ensure that all documentation is complete and compliant with underwriting and loan processing rules. Nexval’s staff specializes in post-closing from receipt of its customers’ signed and funded documents through the entire post-closing support process including loan integrity data checks, retrieving missing documents and providing quality control throughout the  post-closing process.

 

Funding Coordination:

Nexval offers funding coordination that includes balancing and accounting to ensure loans pass all pre-funding criteria. Nexval has a team of highly skilled professionals with deep domain expertise and education in finance. Customers depend on Nexval’s help to manage loan pipelines by utilizing a third party to help their businesses through volume spikes as well as have an additional set of eyes on documents before they’re sent for funding.