Since
1988 we've helped lenders close more loans than before by offering
much
more
than a traditional vendor.
We treat each order and each
loan as the most important because we know
that
for your borrower it's their
only loan.
Here's what you Get:
Single Family Residential
FNMA 1004
– The FNMA 1004 Full Appraisal is one of
the most widely used
appraisal products that we offer today. The lender uses
this form to obtain
the appraiser's analysis and estimate of the value of
single-family properties
and PUD units that secure conventional first or second
mortgages.
FNMA 1073 (Condo)
- The lender uses this form to
obtain the appraiser's
analysis and estimate of value for an individual
condominium unit that
secures a conventional mortgage.
Residential Income Properties
FNMA 1025 (2-4 Units) - The lender uses this form
to obtain the appraiser's
analysis and estimate of value for either a
conventional or a VA mortgage that
is secured by a two- to four-family property.
Drive-by Appraisals
FHLMC 704 (Ext) - This appraisal report is most
commonly known as a
"Drive-by Appraisal". This report is limited in its scope,
in that it does not
include an interior inspection of the subject property, nor
does it include
the cost or income approaches to value.
FNMA 1004 (Ext) – Same as FNMA 1004 above but no
interior inspection.
FNMA 1025 (Ext) – Same as FNMA 1025 above but no
interior inspection.
FNMA 2055 (Ext)
- The lender uses this form to
document appraisals for one-family properties (including units in condominium or
PUD projects) that are submitted to Desktop Underwriter® for evaluation.
FNMA 2055 (Int) - The lender uses this form to
document appraisals for one-family properties (including units in condominium or
PUD projects) that are submitted to Desktop Underwriter® for evaluation.
FNMA 2075 (Int)
– Same as FNMA 2075 above with interior inspection
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I just wanted to write a quick note and thank you
for the services you have been providing our credit
union. We have been so very impressed with the
level of service we receive from you and your
company. I have heard many promises made in my
20+ years of lending experience, however, the
service we have received from Processing Solutions
has exceeded our expectation levels and you truly
deliver what you promise.
John
Garner
Vice President of Lending
3 Rivers
FCU |
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Thank you for taking such good
care of us here at Greater Nevada Mortgage
Services. Ingrid Maddox and I really appreciate how
quickly you respond to us with your constant follow
up and attention. We know that if there is ever a
problem you take care of us right away, and this
customer service helps us close our loans faster.
Thank you, and keep up the good work!
Ingrid Maddox
VP of Operations
Greater Nevada CU |
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Thank you
for the excellent service. We really enjoy working
with you and your company. When you first called on
me I was skeptical but you kept persisting. After a
year and a half I realized that you wouldn’t be so
persistent unless your service really was that much
better. We decided to test your service and your
systems and found your claims to be true. What we
are most impressed with however, is your complete
willingness to be of service which is demonstrated
by regular calls to us to ensure that our needs are
being met and appreciating the opportunity to be of
service to MSGCU.
Susan Hamlett
Consumer Loan Manager
Michigan Schools and Government Credit Union
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Broker Price Opinion
FHLMC 1092 - The Broker Price Opinion consists of
an exterior inspection of the subject property and an exterior inspection of all
comparable sales used to support an opinion of value. The BPO includes estimate
of repairs to obtain fair market value, neighborhood information and value
estimate (90, 120, 180 day marketing time for “as is” and “as repaired” values).
Photographs include subject and street scene photographs.
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We’re a small credit union and don’t send your
company a lot of business, but can tell that you
care about helping us. You promised good service
when we signed up with your company and you’ve gone
beyond our expectations. Thanks for all your
continuing help.
Karen
Meeks
Mortgage Loan Officer
Golden Bay Federal Credit Union |
Quality Control Reviews
FNMA 2000 - A lender uses this form for the
spot-check appraisal component of its quality control system to enable a review
appraiser to address the accuracy of the data in the appraisal report being
reviewed and to develop an opinion on the appropriateness of the appraisal
methods and techniques that the original appraiser used.
FNMA 2000 Enhanced Field Review – Same as FNMA 2000
above with 3 additional comparable sales.
HUD 1038 - A lender uses this form for the
spot-check appraisal component of its quality control system on FHA appraisals
to enable a review appraiser to address the accuracy of the data in the FHA
appraisal report being reviewed and to develop an opinion on the appropriateness
of the appraisal methods and techniques that the original appraiser used.
Desktop Review (In-House) - The Desk-Top Compliance
review serves as a spot check of the original appraisal. A NASCO staff appraiser
(In-House) will review the original appraisal submitted by the client, analyzing
the logic and reasoning of the report, the adequacy and apparent relevancy of
the data used and the appropriateness of the methods and techniques adopted by
the original appraiser.
Desktop Review (In-Field) – The Desk-Top Compliance
review serves as a spot check of the original appraisal. A NASCO Field Appraiser
(In-Field) will review the original appraisal submitted by the client, analyzing
the logic and reasoning of the report, the adequacy and apparent relevancy of
the data used and the appropriateness of the methods and techniques adopted by
the original appraiser.
Enhanced Desktop Review – Same as Desktop Review
(In-Field) above but includes 3 additional comparable sales.
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I want you to know that I am extremely happy with
the service and I really appreciate your checking in
with me like you do. I had an issue where flood
insurance was required but I was trying to get help
with determining if I could get it reviewed again
and I was very satisfied with the help and response
I received.
Kelli Ingram
Vice President - Credit
Administraton
Bank of Atlanta |
Other Valuation Services
Rent Schedule (RS) - The Rent Schedule (RS) is
typically ordered in conjunction with a full FNMA 1004 Appraisal on investment
properties. The lender uses the RS to obtain the market rent for a conventional
single-family investment property from the appraiser.
Operating Income Statement (OIS) – The Operating
Income Statement (OIS) is typically ordered in conjunction with a full FNMA 1004
Appraisal on investment properties. The lender uses the OIS to determine the
amount of operating income that can be used in evaluating the applicant's credit
on applications for conventional mortgages that are secured by one-family
investment properties and all two- to four-family properties (including those in
which the applicant occupies one of the units as a principal residence).
Plans and Specs
– Same as FNMA 1004 Full appraisal
above, however this report is completed for a new construction and the appraiser
refers to the plans and specs for the property.
Land Only – Same as FNMA 1004 Full appraisal above,
however this report is completed for land only.
Final Inspection – Used as a follow-up to the Plans
and Specs or new construction appraisal. The appraiser re-inspects property to
give an update as to the status of construction and confirms completion
according to the plans and specs.
Update to Appraisal
– The appraiser re-evaluates
the subject property to bring appraised value/condition up to date.
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Thanks for the quick help! It was pretty
impressive!
Ed
Reed
Assistant Vice President
American Bank of Missouri |
You Also Get The Processing Solutions
Advantage
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You get Objective
Advice and Recommendations
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We'll monitor
your production once
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We'll work directly with your
borrowers if needed
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We'll send you an
updated due diligence package each year
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Every 6 months we'll send you a set of reports to help you evaluate vendor
performance
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We'll call 1-2 times per month
just to check in and see how things are going
-
We are
extremely responsive and reply within 2 business hours or less
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I would like to thank you
and Processing Solutions for the excellent service
you provide us. The fast and efficient delivery of
your products and services make me feel like I am
the most important customer you have. I will
continue to recommend your firm to anyone in need of
your services. Thank you so much and keep up the
good work!
Brian Sheehan
Loan Processor
Benchmark Mortgage |
Partial List of Satisfied Clients
|
Almost three years ago
we were told me that
Processing Solutions would do a better job than our current
vendor. You gave me your personal word that you would
personally take care of me and my staff. I was really
skeptical because I’ve heard that so many times, over and
over.
Every vendor promises the world. But you and Processing
Solutions really deliver. I’ve heard nothing but great
things from my staff. They tell me your firm is very
responsive and my loan assistants love the service.
I think overall the service has been great and we always get
great support. The system is very user friendly from all
viewpoints. Which is very good, but if the people behind
the system were not as supportive and friendly to work with,
then it wouldn’t mean much. The personnel have all been a
joy.
We simply couldn’t be happier.
Thank you for three great years of top notch service and I
would gladly recommend you to any of my peers who are not
competitors!
Conny Loftus
Sr. Vice
President
Guaranty Bank and Trust Co |
Summary of Advantages
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Close more loans than ever before.
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Reduce your overall risk.
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Respond more rapidly to market conditions.
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You get objective advice and recommendations - We
"shop the market" to get you the best deal possible for your
organization.
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Fast & accurate valuation information.
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Experts at “new construction” and other “hard to locate"
properties.
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We'll
monitor your production once each hour to make sure all orders are
returned on time and without delay.
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We'll work directly with your borrowers to help
them resolve any issue related to an order.
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Our exclusive system
delivers regulatory updates, improved best practices methods and
techniques and fresh new ideas from real estate lending managers across
the United States. Get answers to compliance related questions. Reduce
your compliance training budget and get better results.
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You'll get an updated due diligence package each year.
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Every
6 months we'll send you a report to help you evaluate vendor
performance.
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If we
don't hear from you we'll call 1-2 times per month to check and make
certain we're doing a good job for you.
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We
reply to all of your phone calls, e-mails and faxes in 2 business
hours or less.
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Most of our clients
save eighteen to thirty thousand dollars or more each year over what
they would have paid with their previous vendor.
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Complimentary vendor management service for qualifying institutions.
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I am so impressed with your response!
Susan M. Santerelli
Attorney at Law
Severson & Werson |
Next
Steps
Call (800) 946-8168 for more
information or fill out the form below. We'll rush you a detailed
information package.
We will
not share your information with anyone, ever.
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I wanted to
take this time to send a note of thanks for all of the wonderful
work you do and the service you provide us. We are very
satisfied and quiet glad that we
are now sending all of our business your way. The response time
is wonderful and we are VERY happy with the cost. You, in
particular, have always gone just one step beyond the need and
have helped me out so many times without making me feel like a
bother. Your complete willingness to help and your, always
friendly, attitude makes such a difference; so much so that I
would, without reservation, recommend you to anyone needing this
service!
Jane Slaughter
Loan Processor
Tri-Counties Bank |
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Processing Solutions is a
leader in the services they provide. I continue to
be impressed with their quick response time and
knowledge. My requests are always followed through
with reliable solutions.
Jamie
N. Fritz, CBA, CRCM
Senior Vice President
Fidelity Bank of Florida, N.A |
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This is
in acknowledgement of the exemplary service that
Processing Solutions has provided Primacy Relocation
over the past year. When we first signed up with
you, you promised us exceptional service and you
have consistently delivered above and beyond our
expectations. We needed a customized solution that
involves a lot of manual entry on your part and we
really appreciate the “above and beyond” service
that your company provides. Whenever I call and ask
for help you respond immediately. We couldn’t be
more pleased. It is always a pleasure to speak with
you. Usually when I have to call a vendor to either
ask for help or clarification it is in many ways
dreadful. This is NEVER the case with you. I
consider my decision to move our flood cert requests
to Processing Solutions one of the best decisions we
have ever made. Again, thank you for the exceptional
service.
Gayle
Shackelford
Risk Control Manager
Primacy Relocation |
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On behalf of the real estate staff I wanted to thank
you for taking such good care of us. We really
appreciate your quick responses to all our needs.
Just the other day one of
our members disputed a flood zone designation, and
with her additional documentation you resolved the
situation for us almost instantly. We appreciate
your friendly and fast service.
Hemlata Patel
AVP, Lending
Pacific Service CU |
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I
just wanted to say thank you for the service level
you have been providing to
us.
Yesterday
I needed you to
follow up on a manual flood zone determination. I
emailed you and within, literally, minutes you
returned my call
and
shortly thereafter
your team had the certification emailed to me.
This is the
response to most anything we
have had a need to
call you about.
Linda Bradfield
Loan Processor
Tri- Counties Bank |
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Thank you for
excellent service. I appreciate all you have done to
make my job more streamlined.
Jackie Flores
Loan Officer
Elite Loan Pros |
