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Socal Loan Processing

205 West Market Street

San Diego, CA 92101

Ph: (619)285-5100

Fax: (619)285-5104

info@socalloanprocessing.com

FAQ

 

FAQ’s:

Q) How do I (or my company) sign up with So Cal Loan Processing to process my (our) loans?

A) Email info@socalloanprocessing.com or call (619) 285-5100.

 

Q) How do I submit a new loan to be processed?

A) When you or your company signs up with So Cal Loan Processing, you will receive step by step instructions on how to submit a new loan to us.

 

Q) How does your TEAM Environment process work?

A) Our TEAM Environment takes the traditional one processor method and splits the process into five portions each managed by a team member.

  • Team member 1 handles initial disclosures and all re-disclosures.
  • Team member 2 reviews and submits the loan to the underwriter.
  • Team member 3 reviews conditions and submits them to the underwriter.
  • Team member 4 orders documents and sees the loan through to funding.
  • Team member 5 tracks the check from escrow and does a funding breakdown of loan.

 

Q) The TEAM Environment sounds great, but what if a Team Member is sick or on vacation?

A) Each team member is fully knowledgeable in all steps of the process. So if a team member is absent, there is always plenty of coverage for your loans.

 

Q) Do I get charged if a file does not fund?

A) No, so Cal Loan Processing does not charge a cancellation fee! Once SCLP is alerted that the file has cancelled, you will be sent an electronic copy of the file for your records and the hard file will be shredded.

 

Q) How does So Cal Loan Processing get paid?

A) SCLP bills its fee to the Settlement Agency and gets paid through the close of escrow by the Settlement Agency.

 

Q) Where does your fee show up on the Good Faith Estimate?

A) This actually depends on the Lender’s requirements. SCLP usually puts their processing fee in box 3 of the GFE (Required Services that We Select), but some Lender’s require the processing fee (even for contract processing) to be included in the Origination Fee in Box 1.