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Wingspan Portfolio Advisors and AFN Attorney Network partner to save homes from foreclosure

National Mortgage Professional
Oct 20, 2008

Salient Business Solutions announces release of Salient Clear 2 CloseMortgagePress.comSalient Business Solutions, BPO, Salient Clear 2 Close, 95th Annual Mortgage Bankers Association Convention and Expo Salient Business Solutions, a provider of business process outsourcing (BPO) services, has announced the release of Salient Clear 2 Close, a Web-based loan processing and tracking portal. The announcement was made during the 95th Annual Mortgage Bankers Association (MBA) Convention and Expo in San Francisco. Through the Salient Clear 2 Close portal, Salient is able to provide its customers with a greater level of transparency and accountability regarding the loans outsourced to Salient for processing. The online portal allows loan officers to submit a loan, check and print the status of all their loans and immediately address any pending issues. Another key differentiator of the Salient Clear 2 Close portal is the ability to improve the quality of processed loans. Salient follows a stringent quality control process to ensure that the finished product is of the highest quality. The multi-step process includes various checks ranging from data integrity and verification of an applicant's information, through review of collateral documents, compliance checks and all possible fraud checks. "The single greatest pain point for lenders who outsource their loan processing is the inability to know the status of their loan and to verify that procedures have been followed correctly as the loan is being processed," said Manoj Malhotra, CEO of Salient Business Solutions. "Salient Clear 2 Close takes the guesswork out of managing the portfolio of outsourced loans by providing a window into our processes. Not only are loan officers privy to the status of their loans at all times, but they can also perform quality control checks on their loans as they are being processed." By uploading through the portal, loan officers are also able to reduce cycle times because the information to process the loan is provided instantaneously. Loans submitted through the portal are normally processed by Salient within 24 hours of the submission. Salient uses the processing and quality control systems standard to the loan officer's company, ensuring that the loan is processed in accordance with company and industry guidelines. In addition to processing, Salient also performs a post-closing review to ensure all documentation is included, signed and dated properly and that investor guidelines are met before the loan is sold. For more information, visit ###
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