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- Stewart Mortgage Information
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- Created in 1994 to meet the outsource needs of the mortgage industry
- Wholly owned subsidiary of Stewart Title
- Innovation grounded in the stability of our parent company
- Solutions that allow mortgage lenders to close and service more loans,
more efficiently
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- Majority of orders – 85 percent – returned in 60 seconds
- Research orders within 24 hours
- Standard flood determinations and life of loan management available
- Portfolio services
- Available in all 50 states, Puerto Rico and the U.S. Virgin Islands
- * SMI’s database contains flood
zone status of over 150 million properties
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- HMDA & CBSA information with every determination at no additional
charge
- Customer service
- Available 7 a.m. – 7 p.m.
- Monday - Friday
- Compliance assistance
- Dispute resolution
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- What is an AVM?
- AVMs use statistical techniques to analyze property information that
produce instantaneous estimates of current market value.
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- Nationwide Appraisal network
- Full URAR’s, Drive-by’s, BPO’s
- Electronic ordering and delivery
- Competitive pricing
- Quick turn times
- Full: 5 to 10 days
- Drive by: 3 to 7 days
- Experienced staff capable of handling all your appraisal needs
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- Two industry-leading vendors
- Kroll Factual Data
- Chase Credit Systems
- Joint or individual; merged reports
- Real time web-based credit reports
- Detailed report list and search options
- Integrates and populates into 1003’s of most LOS systems
- On-line customer service request and delivery
- FICO Score updates at the repository level
- Full suite of fraud detection products
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- Variable Cost Solution
- Accurate Doc Sets, Data Driven
- State and Federal compliance*
- State of the Art Technology:
eMortgageDocs™, Web
Solutions
- Web Delivery, multiple options
- Professional Customer Service
- *per terms of License Agreement
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- Mortgage Management Services
- “Your back office solution”
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- Guaranteed turn times
- Converts fixed costs to a controlled variable expense
- Fluctuations in volume are no longer a concern – you produce, we
deliver!
- Ability to track the performance of your correspondents or branches
- Ability to quickly expand your product line
- We provide a turnkey solution or customized services
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- SMI’s first-rate performance will maximize your profits by providing:
- a centralized receipt of closing packages from closing agents; credit
files from branches
- loan reviews performed in accordance with customer/agency guidelines
- verification of data elements from loan file to servicing system. Electronic reporting of data results
to your servicing system
- imaging support services – paperless shipping of loans to investors
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- SMI will:
- ship your files directly to the designated Investor. Each file will be shipped to meet all
Investor Guidelines.
- prepare transfer of servicing letters to be mailed to all applicable
insurers. SMI will prepare and
mail a Good-bye Letter to the borrower upon purchase by the Investor.
- work all Investor Exceptions required prior to purchase. provide an electronic tracking system
that will provide daily updates on all Exceptions.
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- SMI will :
- pay the MIP and VA Funding Fee on your behalf.
- prepare the submission package and deliver to the appropriate
Government Office.
- identify and pursue any deficiencies required to submit the file for
guaranty. Deficiencies reported
to you through our electronic tracking system.
- complete all FHA appraisal logging and insurance applications through
FHA Connect.
- track and review all Mortgage Insurance Certificates and Loan Guaranty
Certificates. Certificates
delivered to Investor upon loan purchase.
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- Follow-up with selling party/closing agent to obtain all Trailing
Documents. Documents include
recorded security instrument, recorded assignment and title policy
- Follow-up of these documents will be at intervals of 60, 90, and 120
days from date of funding
- Weekly electronic status reports. Report includes an aging summary for
each Investor
- 100% tracking to completion of document delivery
- Reports reconciled with the Investor
- Document delivery to your designated Investor/custodian
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- Benefits to SMI performing your Trailing Document Tracking and
Retrieval:
- Guaranteed Documents within 180-240 days from closing (except in certain
jurisdictions with protracted backlogs or noted document deficiencies).
- Expedited document retrieval and research available, to obtain missing
documents by utilizing SMI’s network of
7049 affiliated agents
- Fixed unit cost (includes abstractor fee).
- Loan information can be transferred to custodian for pool certification.
- Imaging of documents for electronic delivery
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Notes
