Contract Mortgage Processing
A Contract Mortgage Processor is an independent, third-party professional or company hired to handle the administrative and compliance tasks involved in preparing a mortgage loan file for underwriting and closing. Unlike in-house processors who are employed directly by lenders or brokerages, contract processors work on a per-loan or freelance basis, offering flexibility, scalability, and expertise without the overhead costs of full-time staff.
Who Hires Contract Mortgage Processors?
Contract mortgage processors typically work with:
Independent mortgage brokers
Loan officers working under a brokerage
Small to mid-size mortgage companies
Lenders looking to offload file prep for faster turnaround
No close, No fee
No charge — we only make money when you do.
We know real estate can be unpredictable, and not every transaction reaches the closing table. That’s why we operate on a “no close, no fee” policy. If a deal falls through, you won’t pay a thing.
Our success is directly tied to yours — we only get paid when you do. That’s our commitment to being a true partner in your business.
Here’s a breakdown of what we do:
Document Collection & Review
We gather and review all borrower documentation such as income statements, tax returns, credit reports, employment verifications, and more to ensure everything is complete, accurate, and up to underwriting standards.
Third-Party Order Coordination
We order and follow up on necessary third-party services including:
Title reports
Appraisals
VOEs (Verifications of Employment)
Homeowners insurance binders
Payoffs and more
Compliance & Quality Control
We make sure each loan file adheres to federal, state, and investor guidelines. Our quality control process minimizes errors and helps reduce delays during underwriting.
Underwriting Submission Preparation
We organize and package files in a way that ensures a smooth submission to underwriting. We proactively address potential issues before they become problems and follow up until the loan is cleared to close.
Communication Management
We act as the central point of contact between all parties in the transaction — borrowers, loan officers, underwriters, escrow officers, title companies, and real estate agents — keeping everyone informed and on schedule.
Why Use a Contract Processor Instead of In-House?
Hiring a full-time processor isn’t always practical — especially for small or growing brokerages. A contract processor provides:
Scalability – Use us when you need us, without the commitment of full-time overhead.
Cost Savings – Pay per file, not per employee.
Expertise – Gain access to seasoned professionals who understand underwriting nuances and investor guidelines.
Efficiency – We keep your pipeline moving smoothly, so you can close more deals faster.
Our processors are skilled in processing the following:
Modernize your mortgage office and streamline your processes with Utmost Docs- Contract Mortgage Processing.
Obtain initial title and escrow pre-CD fees. Process and verify the disclosures are accurate and complete,
Follow Up with the borrowers to make sure ITP and all disclosure are execute within the time frame.
Submit the loan package to your chosen lender and work closely with AE to make sure the file will be submitted to UW ASAP, with no problem upload.
Processing the loan and clear conditions in a timely matter to get your loans clear to close status ASAP.
Handle every request and document from escrow, the lender, the other agent, the appraiser, your client, and any other party involved in the transaction.
Notify you of deadlines, time frames at the beginning of escrow, before they are due and when they have become past due.
Order the appraisal, insurance, title, tax transcripts, payoffs, pay stubs and complete all written and verbal verification of employment.
Coordinate closings with title and your borrowers. Communicate with Closers to ensure the CD balances. Provide final invoices and follow up on signing Docs.
