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Enhanced underwriting scrutiny lead to multiple verification supplements.

Ways to improve turn times from increased volume.

The COVID crisis has caused enhanced underwriting scrutiny for virtually all borrower segments. While self-employed borrowers have certainly received their share of the burden since the spring, all current homeowners have been involved in enhanced verification of mortgage processes.

Many lenders remain unclear with their investor’s requirements when documenting a current payment status for loans. Thus, Service 1st has responded with multiple verification customizations to fit guideline interpretations.

Please keep in mind, most creditors do not accept electronically signed borrower authorization (BA) forms for 3rd party verifications. If the BA is not wet signed, the creditor will require the consumer to wet sign or require the borrower to speak directly with the creditor’s customer service representative (CSR).  This has recently become a processing concern and will be updated in S1 FAQs.

We recognize heavy borrower engagement following application has a direct correlation to decreasing customer satisfaction. Service 1st limits all activity a consumer must participate in to complete any transaction or verification.  As an example, borrowers are never asked to remain on the phone while a Service 1st representative waits in a holding queue for a creditor CSR to pick up the phone.

Additionally, S1 verifications are completed in nearly 50% less time than industry averages.  Service 1st turn-times and references are available upon request.  We know this is a great value to all S1 clients.

I hope as we head into the Labor Day holiday that our friends in the lender community take some time to put their feet up.  This has been an incredibly busy and profitable time for all. 

Smell the roses my friends!



Curtis Knuth

CEO, Service 1st


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