Contract Processing

Completely Licensed Contract Processing Services Available for California Loans

I am a contract, telecommuting loan processor, who takes only a work volume that can easily be completed by me in a very timely manner.  Please read below, to understand how our processing partnership works best for me:

My clients are seasoned Loan Originators, able to complete the initial Fees Worksheet and the 1003, and understand how to use Calyx Point Software, at least as required to complete the loan origination process.

Your Borrower will have reviewed the loan program and worksheet, and agreed they want to go on with the loan. Then the loan is sent to me, via Point Software. My turn times are 24 hours, once I have all the required information.  I prefer working with “small” loan origination producers.

Except for funding lenders that provide disclosure services, processing is more complicated now than it was a few years ago. You may need forms that are not offered by Calyx Point. You have to generate them and they need to be correct the first time.

If your origination documents are wrong, you literally pay the price.

angry man
Disgruntled MLO

One thing is for sure.  As long as I have been in the loan business (30 plus years), the laws are constantly changing. There is always a learning curve for loan origination and processing.

I can help you avoid disclosure mistakes because you don’t have software to create all the forms or are not up to date with the requirements. I will completely review your Fees Worksheet, and make suggestions, if needed.

I process all loan program files: FHA, VA, Conventional, Hard Money, Manufactured Homes (on fee simple land), Mobile Homes (on leased land), and most everything else you can think of.

Pricing Structure for Seasoned Loan Officers:

As an experienced Loan Originator, you have to be able to evaluate the loan application success, prior to the loan coming to me.  If you think the loan will be approved, and I think so too, it probably will be approved and close.

Judy Sellens
That’s me – Judy

I don’t mind working on complex loans, and I am happy to be your “overload” processor.

My standard fee is $895 when using your  completed 1003 application, via the Point Software,your Fees Worksheet, and processing the loan through to closing. After closing, I send you a link for files to be kept by the Broker, per CABRE Codes.

Just a note, that, if the funding lender creates the Borrower Disclosures, not us, then we are not required to keep copies of those disclosures.

However, if you submit the loan to the funding lender, who electronically creates the loan disclosures, and/or you send the signed origination documents to me, along with the basic stipulation documents, then my  fee is $695. The Contract Processing Agreement identifies what steps and documents are needed for this processing price option.

If you have processed your own loans, then you know how many hours it takes. I am happy to say that it looks like more funding lenders are moving toward electronic submissions. Streamlining the loan submission greatly helps us process the loans, but it still takes time to learn their sites and systems.

Please call or email me so we can get to know each out a little, and I will send you a copy of my Contract Processing Agreement.  It basically gives my fees and confirms that all of us are properly licensed, and will maintain our licensing.  There are spaces for you to complete your company information details so I can create a Broker Point Folder for your files.

You can print the Agreement, sign and complete your information, and send the Agreement to me, along with your first loan submission.  I will return a copy, signed by me, to you.

For questions, please contact Judy Sellens by email or phone and ask if there is a Broker slot open.
951-265-2102 – direct line
Judith Sellens, Contract Loan Processor
CaBRE Broker License No. 00673791
NMLS Endorsement No. 234977
12582 2nd. Street # 78
Yucaipa, Ca 92399