The Direct Mortgage In-House Processing Solution
for Wholesale Lenders
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 boarded, underwritten, and receive their due diligence review – all in one simple step – with a trusted and certified process - allowing your company to be faster and more profitable. That is what Direct Mortgage In-House Processing can do for you.
Integrate your existing workflow platform into Direct Mortgage In-House Processing's Loan Choices™ and realize the potential of allowing your organization to focus on increasing your loan pipeline. You will benefit from outsourcing your business processes with a leader in mortgage technology. Can your current platform do this?
- Never manually run DU again!
- Predictive analytics requires no clicks. It displays and prices loan options you might not have thought of.
- Runs DU and LP automatically.
- No more blindness. Multiple Accepts display in Loan Choices™. And if it doesn’t qualify, multiple loan products still display with a refer. You know exactly why it didn’t qualify by clicking the refer link.
- Your job: take the loan application. Our job: present fully priced loan choices – ready for underwriting with instant rate locks.
- Minimum clicks - Maximum possibilities. It's simple to learn the few clicks required. And fast to display the loan choices - over 40 different loan products can normally be displayed within 60 seconds!
- What you've always wanted: Fully qualified loan choices – not prequals. Less back and forth with your AE. Instant pricing with rates and YSP. Fully priced loan Approvals – not just prequal price opinions. No funny business. No empty pricing promise from a prequal. Just real loans
Direct Mortgage In-House Processing has automated almost every step in the process. It’s as simple as selecting what loan programs you want to offer your brokers and borrowers utilizing Direct Mortgage In-House Processing’s engine, boarding the loan, and uploading two borrower authorizations. And that is where the automation begins. Within seconds you will see the order status of all required verifications. And within days you will be able to schedule the closing. Some specific loan programs – at your discretion - can actually be ready to schedule the closing instantly – at the time of submitting the loan file.
Electronically select the best loan programs. Direct Mortgage In-House Processing has “The State of The Art Loan Selection System” – and it’s ready for you today. Our system allows your brokers and borrowers the ability to Find, Price, & Provide instant rate locks loans based on your loan programs offered – and provide lock confirmations instantly. Imagine your brokers submitting a loan file, and the next notification they receive is when the loan is ready to close…. within days – not weeks.
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 customer service and closed loan volumes. Utilizing your current underwriting workflow we are sure you find too much of the back and forth communication between the loan officer, contract processor, underwriter, and borrowers 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 underwriting overhead and free up your staff to generate more revenue. Using our automated processing services we order, validate, and certify the necessary steps to prepare your loan file for closing and quick funding and end investor alignment. Our business rules technology ensures that your loan file will meet secondary market investor requirements for purchase throughout the entire loan cycle.
The closing docs and wire request are prepared, the closing is scheduled, and the loan file is presented to you, the lender, to fund. In addition, Direct Mortgage In-House Processing can coordinate the actual loan sale with the end investor and prepare HMDA and MERS functions. 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 brokers.
Our Lender 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 Processing Services
- Certify 29 Processes
- Loan Underwriting Services
- Certify 29 Processes For Compliance & Risk
- Consultation with Loan Officer
- If Loan Doesn't Qualify For Program
- Schedule Loan Closing
- Coordinate Time With Title, Borrower And Loan Officer
- Closing Doc Preparation
- Coordinated With The Title Company
- Trailing Docs
- Coordinated With The Secondary Market Investor
- MERS Registration
- Electronic Registration Of Loans After Funding
- Funding Package Preparation
- Loan Package Is Ready To Fund - And A Wire Request Is Prepared For You To Send To Your Warehouse Bank
- The Loan File Is Presented To The Lender 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
- Settlement / Loan Procurement
- Coordinating The Actual Loan Sale With The End Investor
- 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