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Your Backup Loan Processor Shouldn't Be a Stranger
Your processor takes a week off. Or their kid ends up in urgent care on a Tuesday. Either way, your file just lost its driver. The only question is whether a backup loan processor who already knows your account picks it up, or whether it sits until somebody gets back.
At Make Sense, every account gets at least two processors. Here's why I won't run it any other way.
We've ALL been there
Conditions come back Monday. You forward them to your processor and get an auto-reply. "Out of the office through Friday."
No name. No backup. Or a name you've never heard of.
Tuesday, your borrower texts you asking what's going on. You don't know either.
Wednesday, somebody finally picks the file up and spends a day figuring out what's already been asked for. Then they call the borrower for a document the borrower sent last week. Now your borrower thinks nobody on your side is talking to each other. Honestly? They're right.
On a two-week close, that's your whole cushion. Gone, because one person took a vacation they'd earned.
Here's the thing. Nobody did anything wrong. Processors take time off. People have emergencies. The problem is a shop where only one person knows your file.
Two processors on every account
Here's how we set it up:
Every account is assigned a primary processor and at least one backup from the start.
You already know your backup before anybody needs a day off. Nobody gets introduced to you in the middle of a condition.
A multi-day vacation gets covered by that backup. So does an emergency nobody saw coming.
The notes live in the LOS. What we requested, what the borrower told us, when we expect it back. The backup reads the file and keeps going instead of starting over.
Our status standard doesn't go on vacation either. Nothing sits more than 48 business hours without a current status, no matter who's at the desk.
Why your backup loan processor has to know you
A backup loan processor you've never worked with isn't really a backup. It's a stranger holding your file.
You've got your way of doing things. How you want updates. Which borrowers need a heads-up from you before anybody calls them. Text or email. A processor who already works your account knows that going in. A fill-in finds out by getting it wrong.
Your borrower can tell, and they'll feel more comfortable. The backup processor calls with the file's history right in front of them, and the notes on how you prefer we communicate with your clients, creating a sense of familiarity, even with a new voice.
It covers your time off too
This part gets overlooked. When your processor is the only one who knows your pipeline, you can't really check out either. Somebody has to hold it together, and that somebody is you, answering borrower texts from a beach chair.
Two processors who both know your files means one of them is always there. Your files keep moving whether it's your week off or theirs.
Bottom line
A one-processor setup works fine right up until that one processor is out. Then your closing date depends on somebody's flight getting home on time.
So ask your processor who's covering your files next week. If they have to think about it, you already have your answer.
And you'll be the one explaining it to your borrower.
Want a backup who already knows your files?
Make Sense Processing is contract processing for loan officers in the broker channel. At least two processors on every account, notes in the LOS your backup can pick up and run with, and a status that's never more than 48 business hours old, whoever's at the desk.
For mortgage professionals only. This is a business-to-business communication for loan originators and brokers. It is not intended for consumers and is not an offer of credit. Make Sense Processing provides contract loan processing services to licensed originators. We do not originate loans, take loan applications, or offer, negotiate, or advise on rates, terms, programs, or qualification. Nothing here is legal or compliance advice, and guidelines vary by lender, program, and state, so verify anything you plan to rely on.Make Sense Processing | NMLS #2351904 | License #MB-2002084
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