Mortgage Post-Close Servicing Process Workflow Template

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Overview: Mortgage Post-Close Servicing Process Workflow Template

This workflow template illustrates the performance of vital insurance and tax-related tasks by borrowers and loan servicing team members that take place after a mortgage loan has been closed and funded. Purchase and download this template in PDF and Visio (VSD) formats. You can customize it to fit your own organization, or simply use it to better understand Mortgage Post-Close Servicing processes.

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Process Details and FAQ: Mortgage Post-Close Servicing

What is Mortgage Post-Close Servicing?

Mortgage Post-Close Servicing processes involve coordination between borrowers, loan servicing staff and escrow account management staff to ensure that all tax and insurance related payment/documentation is in order prior to fully transitioning the loan over to the lender's loan servicing team. This includes ensuring that the borrower has the appropriate insurance coverage (private mortgage insurance, homeowners insurance, flood insurance, etc.) and configuring escrow account(s) to process property tax payments.

Which KPIs, or metrics, are typically used to measure this process?

The following metrics may be used to measure the Mortgage Post-Close Servicing process:

  • 1.Loan Boarding Expense as a Percentage of Total Core Loan Servicing Expense
  • 2.Mortgages Boarded per Loan Boarding Employee
  • 3.Mortgage Loans Closed per Closer
  • 4.Mortgage Loans Closed per Post-Closing Employee
  • 5.Mortgages with Escrow Accounts per Escrow Employee
  • 6.Tax Penalty Frequency Rate

Which employees and/or departments are involved in this process?

The following parties are typically involved in the Mortgage Post-Close Servicing process:

  • Customers (Borrowers)
  • Mortgage Loan Servicing Staff
  • Mortgage Escrow Account Management Staff

What is the purpose of these workflow templates?

Broken business processes pervade companies, large and small. Manual workarounds, downtime, errors and other waste is thought of as "the cost of doing business." Use our workflow templates as a starting point to document your own processes. Customize them to fit your business and add "call outs" for improvement opportunities.

How are these workflow templates created?

These workflow templates are the product of over 20 years of hands-on management consulting experience, as well as research performed by the OpsDog team. All of our workflows are mapped using the BPMN 2.0 specification.

How do I download a workflow template?

Simply click the "add to cart" button and follow the process to purchase and download this workflow template. You can use any major credit card, or a PayPal account, to pay. After you have completed the purchase, you will receive a link to immediately download the workflow template in PDF and Visio formats. If you aren't a registered OpsDog user yet, create a free account! New users get $20 off of their first purchase.

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  • Workflow Template


    Mortgage Post-Close Servicing

    - Instantly download files
    - Includes PDF, VSD file formats
    - Customize the Visio version
    - Workflows mapped in BPMN 2.0


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