Learn About The MVP Processing Power
Explore how easy it is to secure a mortgage with NYFTY Lending’s streamlined, step-by-step process.
Step 1
Intake
The magic begins when you send us your borrower’s loan application. Then, we create a borrower profile and a checklist of your conditions, so we know exactly what needs to be fulfilled and when.
Key Milestones:
- Review initial documents
- Pull borrower credit report
- Request missing documents from borrower
- Address potential problems upfront
Step 2
Gather & Review Documents
We look for gaps in documentation early on, so there’s plenty of time to request paperwork and verify third-party information. (Don’t worry, we do all that for you.)
Key Milestones:
- Order case numbers for FHA, VA, and USDA loans
- Order title, appraisal, flood, and hazard certifications
- Order VOE, VOI, VOD, VOR, and VOM
- Order insurance and survey if needed
- Confirm lock verification is received
- Prepare the loan estimate and closing disclosures
Step 3
Data Verification
We carefully review each document to make sure all fields are completed, information is up-to-date, and signatures are in place. We work with the borrower, underwriter, and third parties so you don’t have to.
Key Milestones:
- Collect completed and signed disclosures
- Verify disclosure accuracy
- Confirm disclosures meet conditions
- Discuss and resolve potential issues with L.O.s
Talk to an MVP expert about finding the perfect loan product for you.
Step 4
Condition Fulfillment
We keep a running tab of what you need for every line item. Then, we satisfy them all. It’s that simple.
Why We’re Better:
- Review conditions with borrower
- Follow up on each condition until met
- Resubmit conditions as needed
- Clear all conditions with lender
Step 5
Underwriter Coordination
Working with underwriters to make sure they have everything can be tedious, but MVP has you covered. We handle the back-and-forth, address concerns, and find requested info on your behalf.
Key Takeaways:
- Collate package documents
- Highlight important points
- Submit application package
- Answer underwriter questions
Step 6
Loan Finalization
Once your borrower is approved, we prepare your final documents and work with closing agents to wrap everything up. We also include a closeout package for audits. You know, just in case.
Additional Benefits:
- Receive CTC
- Coordinate closing date
- Prepare closing package
- Submit closing documents to lender
Ready to Make Bank?
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If you’re chomping at the bit to get started, we’ll match your energy.
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