FAQS

How Can We Assist?

WHAT IS YOUR FEE FOR PROCESSING A LOAN?

This usually depends on the level of service that the LO wants. In most cases, processing a file all the way from initial submission with the desired lender, and opening escrow, to CTC and close of escrow, our fee is $1,095. When a loan officer completes initial submission to the desired lender and opens escrow, on his/her own, our fee may be adjusted accordingly.

CAN THE BORROWER BE CHARGED FOR THE LOAN PROCESSING FEE OR DO I, AS THE LO, HAVE TO PAY IT?

Processing fees that are paid to a bona-fide third party processing company, that is properly licensed and registered with the NMLS, may be charged directly to the Borrower. These fees do not count towards the QM points and fees test, so long as the third party company is NOT affiliated with the broker/loan originator. Alternatively, the broker/loan originator may chose to cover the cost of the third party processing fee. Individual lenders may apply their own rules/criteria regarding third party processing fees, provided these rules/criteria do not violate CFPB, TILA, and/or any other applicable law.

WHICH LENDERS DO YOUR PROCESSORS WORK WITH?

Our processors have extensive experience working with the most dominant lenders in the industry. These lender include UWM, Rocket Mortgage, Homepoint, PennyMac, Newrez, Flagstar Bank, Plaza Home Mortgage, Finance of America, and more. Our processors are also very familiar with small and midsize lenders and are very capable in adapting to submission of loans with new lenders.

DOES PATHWAY LOAN PROCESSING USE OFFSHORE STAFF ?

No. Pathway Loan Processing processors are all U.S. based staff. These staff are all fully vetted and background checked, in addition to meeting the strictest experience and loan processing knowledge standards in the industry.

HOW EXPERIENCED ARE YOUR LOAN PROCESSORS?

Our individual loan processors average 10 years or more of full-time loan processing experience. They are fully capable in the use of loan operating software such as Calyx Point, LendingPad, Pre-App 1003, Lending QB, Encompass, and others. Extensive familiarity with lending guidelines, serves as a "second set of eyes" that can identify potential underwriting issues before initial submission.