Managed Mortgage Solutions (MMS)
FCT’s Managed Mortgage Solutions (MMS) program for purchases allows monoline lenders the ability to manage transactions faster and more cost effectively.
MMS offers a single point of contact for instructing, communicating and funding during a mortgage transaction. On behalf of the lender, FCT:
- assembles mortgage instructions
- instructs the lawyer and manages communication and milestone service level agreements (SLAs) associated with closing dates with both the lawyer and you
- follows up to determine any changes requested by the lawyer
- requests final documents from the lawyer
- aggregates and facilitates funding
As an integral role in the transaction, FCT sends the following milestones to brokers to help keep them informed on the progress of the deal which include:
- Solicitor Instructions Sent
- Broker Conditions Satisfied
- Solicitor Conditions Satisfied
- File Ready to Fund
This solution includes a lender title insurance policy and an administrative fee to instruct, manage and fund. Add value to your services, by informing your borrowers about the homeowner policy and ensuring that their lawyer also purchases this for them at a discounted rate from FCT.
For more information on MMS and which lenders currently partner with FCT on this outsourcing solution, please contact your dedicated Business Development Manager today.