HOW WE WORK TOGETHER:

YOUR BANK OR CREDIT UNION

• Executes the MDS Service Agreement and the MDS approved Secondary Market Investor Agreements.
• Designated employees are trained in our PRODUCTS, PROCEDURES AND PROCESSES.
• Receives your retail price sheet from MDS daily (or more often as markets change)
• Takes the customer loan application and forwards it to MDS for processing and loan decision.

MORTGAGE DEPARTMENT SERVICES, LLC  

• Provides your bank with retail price sheet combining the secondary market buy sheet with your banks individual gain on sale model on a daily basis (or more often as markets change).
• Processes, underwrites, and prepares closing documents.
• Notifies your bank of net funds to wire to the closing agent.
• Post closes and ships file to the secondary market investor, with instructions to fund your bank directly.
• Collects final recorded instruments and performs quality control function.
• Ships a copy package to your bank as a closed, sold loan.
• Bills your bank only for closed loans.