Earlier this month, we answered some of your top questions about our TPO Program in our blog post, Third Party Origination Solutions Q/A Part 1. Now, we are excited to bring you part 2 in the series to answer even more questions about our program and the services we offer!
Q: Why should we use TPO?
A: Rising costs of origination and compliance worries are a couple of the main reasons. Considering most banks do not offer government loans, it is another opportunity to expand your product offering and help more of your customers/members.
Q: Why Inlanta’s TPO?
A: Inlanta offers a full-service TPO experience which includes issuing disclosures, processing, underwriting, and closing docs. With our full suite of government and conventional programs, we offer a cost-effective method to deliver options to your customers/members quickly and easily. Product training and marketing support are included in the agreement at no additional cost.
Q: Do you have a dedicated processing staff?
A: Inlanta offers best in class service to our partners. We do have a dedicated staff that will work with your Loan Officers to ensure the best experience for the customer.
Q: Is there a cost savings in TPO?
A: In March 2016, the Mortgage Bankers Association (MBA) reported loan production expenses of $7,747 per loan, and that number is only going to increase. If compliance worries or staffing is currently an issue with your institution, TPO is a logical partnership that offers a full team of support behind you, minus any additional overhead.
Q: Do you offer training for your programs?
A: Yes! Training is very important to Inlanta and our culture. It is important that each partner have basic understanding of all products available to be able to identify the best fit when meeting with customers/members or referral partners. Even if your institution has never originated government loans, we can bring your staff up to speed.
Q: Do you offer an easy solution for borrowers to apply?
A: Yes, we offer an online application, which you can have placed on your Institution’s website. Loan Officers can also take face-to-face applications using the TPO Portal. The Portal also offers document upload and status on your current applications.
Q: Who is a good candidate for a partnership?
A: Ideal TPO candidates are banks and credit unions that would like to offer additional mortgage loan programs to their customers while reducing expenses and compliance burden and increasing income.
Contact us today for more details about our TPO program! We can’t wait to help you originate more and worry less.