FHAPROS provides DE contract underwriting to servicers of government mortgages. Servicers who contract with FHAPROS gain free access to FHAPROS proprietary technology and end-to-end solutions for assumptions, ensuring the highest possible conversion of these mortgages resulting in higher retained servicing and fees. FHAPROS underwriting times are fast and efficient, thus conserving servicer resources and time.
FHAPROS monitors daily the servicing portfolio against daily listed properties through an API call, to make certain that the marketplace knows at the earliest possible moment the benefits of the sellers loan. This increases the chance of the buyer electing to assume the existing loan rather than obtaining his or her own.
FHAPROS distribution capabilities in 90% of the MLS systems nationwide, provides a unique and rare opportunity to publish the details and substantial savings of the sellers loan to the agents and buyers searching in these systems, enabling buyers and their agents to search for properties based upon assumable mortgages. This marketing ability guarantees higher assumption conversion rates and portfolio retention, more important in today’s marketplace than ever.
Servicers who contract with FHAPROS enter a mutually beneficial partnership in assumptions, as both parties have a shared interest in converting as many assumptions as possible. FHAPROS bring technological and loan underwriting expertise in addition to marketing resources to guarantee the highest possible conversion rates.