What does a fulfillment services company do?

To understand that role of the fulfillment services provider, it is often helpful to understand the various tasks that are the responsibility of the Correspondent Originator. These tasks include ALL of the following:

  • Identifying the investor who will be presented the loan for purchase
  • Upfront Disclosures & Quality Control
  • Credit Underwriting
  • Closing Instructions & Document Preparation
  • Settlement Agent Management
  • HUD-1 Review and Approval
  • Closing Management, Confirmation and Compliance
  • Warehouse Funds requests and Settlement Agent Funds Disbursement Authorization
  • Delivery of the closed loan to Investor for purchase consideration
  • Post-closing investor purchase coordination/responses/trailing documents delivery
  • Purchase Advice Delivery to Warehouse Lender