Underwriting Services
Per Wikipedia - The name “Underwriting” derives from the Lloyd's of London insurance market. Financial bankers, who would accept some of the risk on a given venture (historically a sea voyage with associated risks of shipwreck) in exchange for a premium, would literally write their names under the risk information that was written on a Lloyd's slip created for this purpose. Recent history of the mortgage industry is not very different.
The players who did the underwriting due diligence are still around. Should you trust them or should you work with vendors with a fresh perspective.
Our deep expertise includes manual underwriting, condition review/approval, collateral risk, quality control, credit risk, fraud risk, repurchase appeals and claims management. Visionet has a team of experienced people who have performed underwriting for various marquee lending institutions.
Visionet uses its own platforms to automate as much as possible. VisiHCLAS for high cost lending analysis, VisiLoanReview for underwriting review and due diligence, VisiRepurchase for Reps and Warrants management. These state of the art workflow based platforms are integrated though a solution called VisiDataBridge for seamless data and document transfers.
Visionet currently pre-underwrites/underwrites the following single family products:
- FHA- Purchase
- FHA- Refinance
- Conventional Ins- Purchase
- Conventional Ins- Refinance
- VA Purchase
- VA Refinance
- USDA
- Construction Loans
HUD Prep
Our HUD Preparation comprises of gathering and compiling lender, third party, borrower and settlement agent fees and completing HUD I settlement statements.
For a decent, safe and affordable housing our HUD preparation Service proves to be fruitful.
HUD settlement statement is prepared in accordance with the lender's closing instructions and the requirements of the title insurance commitment, if applicable.
Preliminary HUD settlement statement is provided to the lender and/or investor for approval prior to the physical signing, if necessary.
Bankruptcy & Judgment Searches
To check if there is any Bankruptcy filed against the borrower by using the PACER site and upload the search docs in the file.
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