Turn-Key Processing, LLC

S.A.F.E. Act Compliant

TKPadmin — Thu, 20 Jan 2011 20:16:49 +0000

Turn-Key Processing, LLC is now licensed in the states of California, Florida and Texas to meet the requirements of the S.A.F.E Act. TKP is one of the few contract loan processing companies to remain in business in this ever changing mortgage industry.

Stay tuned for more updates.

TKP Team

Understanding the HUD $100 Down Program

TKPadmin — Fri, 25 Jun 2010 13:56:00 +0000

Recently we have seen borrower’s taking advantage of HUD’s $100 Down Program. This program allows a borrower to purchase a HUD REO property using an FHA loan for financing but only having to pay $100 down rather than the 3.5% normally required with an FHA loan. This is a great opportunity for borrower’s who are limited to bringing a higher down payment and who are willing to accept a property that may or may not need repairs. If a repair escrow is required it has to be included in the borrower’s closing costs at the time of closing and is held in escrow to have the repairs completed after closing. Another nice feature is that HUD usually already has an appraisal done so the borrower doesn’t have to pay for one up front.

TKP Team

Are Mortgage Processing Companies Safe In Today’s Market?

TKPadmin — Fri, 21 May 2010 15:08:09 +0000

Many outsource mortgage processing companies have disappeared in the last couple of years. It seems the rate of decline is directly connected to rate of decline of many Broker shops. Diversity seems to be the key to surviving in these volatile times. Rather than marketing your services to local mortgage brokers, it would be best practice to venture out into other markets and states.

SAFE Act Being Interpreted Differently By Each State

TKPadmin — Thu, 06 May 2010 14:38:03 +0000

It appears that some states have very different interpretations of the new requirements for licensing among non originating mortgage professionals such as loan processors, underwriters, and account executives. This is causing confusion among mortgage professionals nationwide.

Some states require that loan processors and underwriters be licensed even though they do not originate loans. Other states do not require them to be licensed because processors and underwriters only perform clerical non originating duties.

The verdict is still not out yet for many states! Stay tuned for more information.

TKP Team

Blog Posts Coming Soon

TKPadmin — Mon, 03 May 2010 22:27:54 +0000

We are excited to announce the debut of the new TurnKeyProcessing.net website.

Turn-Key Processing, LLC (TKP) was established in Colorado in 2007 by a seasoned Loan Processor who has over 10 years of processing experience in retail, wholesale, & the secondary market. We have served mortgage brokers big and small across the U.S. to work on their day to day loans and with temporary overflow in volume.

Undaunted by the volatility in the mortgage industry, TKP has continued to strive in the loan processing field and continues to serve and satisfy originators nationwide. We continually remain nimble in the transforming mortgage industry and work resolutely to remain one of the leading contract mortgage processing companies.

Stay tuned for more updates, news, industry information and more in our Blog section.