The Direct Mortgage In-House Processing Solution
for Secondary Market Investors
What is Direct Mortgage In-House Processing?
We process mortgage loan files for mortgage brokers / loan officers; we underwrite loans for lenders; and we perform loan securitization due diligence for secondary market investors.
Why use Direct Mortgage In-House Processing?
Automated Ordering, Rules Based Compliance, & Loan Program Alignment With Secondary Market Investor Requirements
Have your loans validated, and receive their due diligence review – all in one simple step to align your loan pipeline for quick purchase – with a trusted and certified process - allowing your company to be faster, increase accuracy, and be more profitable. That is what Direct Mortgage In-House Processing can do for you.
Direct Mortgage In-House Processing has automated almost every step in the process of getting your loans to meet acquirement guidelines. It’s as simple as selecting what loan programs you want to offer your lenders utilizing Direct Mortgage In-House Processing’s engine and selecting what validations are required before a loan is ready to be purchased. Using our vendor services engine we will ensure loan files sent to you for purchase have been certified. This allows us to guarantee trouble free loan files in your pipeline.
Direct Mortgage In-House Processing has “The State of The Art Loan Selection System” – and it’s ready for you today. Our system allows you to be automatically notified when a loan package is ready for settlement. We ensure your checklist of required validations has already taken place on the loan file and that it has been certified as “Ready to Go”.
Most underwriting done today often requires several duplicated tasks, where the loan processor, the underwriter, and the secondary market investor – all perform essentially the same tasks. That’s where Direct Mortgage In-House Processing comes in. We do it one time – in one process. We remove the duplication whenever the loan program is selected from within our system. Before Direct Mortgage In-House Processing, these tasks were mostly manual, labor intensive, and inefficient. To document, verify, close, and fund a mortgage loan transaction an underwriter had to perform tasks that were way too cumbersome and problematic. This would not allow your operation to be focused on funded loan volumes. Utilizing your current funding workflow we are sure you find too much of the back and forth communication between the lenders and the brokers on a daily basis. Direct Mortgage In-House Processing cuts out the back and forth manual processes by leveraging technology to automate and certify the loan file for closing and secondary market investor purchase
Using our patent-pending DirectWare™ web based software solution, we allow you to reduce your funding overhead and free up your staff to focus on customer service and quality control. Using our automated processing services we order, validate, and certify the necessary steps to prepare loan files for end investor alignment and acquisition. Our business rules technology ensures that loan files will meet your purchase requirements for purchase throughout the entire loan cycle.
Once the wholesale lender has funded the file the loan will be transferred to your acquirement pipeline to be purchased. Once the loan file is in your pipeline you can view and sign off on the loan validations that have already taken place. All the loan file images are stored so that you can retrieve them at any time.
Here are many of the certified process that are completed for you:
- Credit Reports
- AVM (Automated Valuation Model - Property Value Report)
- Tax Returns (if needed)
- Social Security Number & Identity Verification
- Verification of Employment, Including Tax Returns When Needed
- Verification of Income
- Verification of Deposit/Assets
- Verification of Benefits
- Hazard Insurance
- Mortgage Insurance
- Title Commitment
- Loan Payoff Statements & Updated Balances
- 24 Month Chain of Title (to review loan compliance)
- Lien Check
- Borrower County Property Search (used for investment property review)
- County Tax Search (to accurately reflect the monthly payment and payment ratios)
- Public Records Search / Judgments
- Tax Service
- Flood Report
- Fraud Check
- High Cost Loan Review
- Legal Review (a complete federal & state loan compliance review)
- Initial Disclosures. The initial disclosures will be confirmed by the borrower at closing – so even though the broker still is responsible for providing them to the borrower, the broker does not normally need to supply them to the lender.
- Closing Document Preparation
- Closing. We coordinate and schedule the closing with you
- Signing. The Closing & Signing Service provides a closing at the borrowers home or other broker’s designated location
Who is Direct Mortgage In-House Processing?
We are an independent organization started in 1994 and built upon the belief that the ability to leverage mortgage technology will streamline the loan underwriting process – increase loan quality - and allow you to succeed in today’s lending environment. We have a history of being the leader with technology – true cutting edge technology - along with staying on the forefront of market trends. Direct Mortgage In-House Processing’s research department continuously updates loan guidelines, loan programs, and regulatory compliance items. This allows you to stay away from problems such as high cost lending and other national and state regulations that can creep up and cause problems at the closing table for your loan files.
Our Secondary Market Investor Services Portfolio:
- Input Loan Programs
- Loan Program Data Input And Rate Adjustments Data Input
- POS / LOS System Subscription
- Loan Application, Etc.
- Loan Choices
- Present Loan Choices
- Lock Rate Options
- Provides An On-Line Rate Lock System
- Daily Rates
- Upload Current Days Rates
- Select a Loan Program
- Populates Underwriting Conditions, Orders Validations, & Prepares The Closing Documents
- Loan Underwriting Services
- Certify 29 Processes For Compliance & Risk
- Consultation with Lender
- If Loan Doesn't Qualify For Program
- Trailing Docs
- MERS Registration
- Electronic Registration Of Loans After Funding
- Funding Package Preparation
- Loan Package Is Ready To Fund
- The Loan File Is Presented To The Secondary Market Investor And Ready To Fund
- Sending The Loan File Images To The Secondary Market Investor
- Storing The Loan File Images - And Data - Made Available For Later Retrieval
- HMDA Reporting
- The HMDA Report Is Fully Prepared And Ready To Send
- FHA & VA Insuring
- Quality Control
- File Selection & Review
How to Use Direct Mortgage In-House Processing?
Success will come simply by utilizing the services offered by Direct Mortgage In-House Processing. Retrieve the loan file in Fannie Mae format from your broker or any other standardized Loan Origination System (LOS) like Calyx Point™ (the integration to include your name in Calyx Point™ is available). Or use the Direct Mortgage In-House Processing system – DirectWare™ - to prepare the loan application. Then seamlessly transfer your loan file data into the Direct Mortgage In-House Processing.com wholesale system for your file execution. When the loan data is successfully transferred to Direct Mortgage In-House Processing you will be prompted to select a loan from the loan choices screen. Or simply click the Underwriting Submission link. The Underwriting Submission form ensures you have delivered everything we need to guarantee a smooth and seamless loan closing.
Direct Mortgage, Corp. (NMLS ID 9612) is licensed or operating with a license exemption under the following names: AL, ID, NV, OR, WA: "Direct Mortgage Corp"; AZ, HI, LA, MI, MS, OK, SC, TN, VA: "Direct Mortgage, Corp."; AR, IN, MT, NC: "Direct Mortgage, Corp"; CA: "Direct Mortgage Wholesale Corp."; CO: "Direct Mortgage Corp dba Direct Mortgage Wholesale Corp"; FL: "Direct Mortgage Wholesale Corporation"; GA, NM, WY: "Direct Mortgage Corp."; IL: "Direct Mortgage Wholesale Corp"; OH: "Direct Mortgage Wholesale Corp (Direct Mortgage Corp.)"; TX: 1st Mortgages: "Direct Mortgage, Corp. dba Direct Loans Corp", 2nd Mortgages: "Direct Mortgage Corp dba Direct Loans Corp"; UT: "Direct Mortgage Corporation". Click for more licensing info.
You can view our NMLS consumer access page at