Mortgage Post-Close Servicing

Workflow Template

Mortgage Post-Close Servicing

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.

Related KPIs : Loan Boarding Expense as a Percentage of Total Core Loan Servicing Expense, Mortgages Boarded per Loan Boarding Employee, Mortgage Loans Closed per Closer, Mortgage Loans Closed per Post-Closing Employee, Mortgages with Escrow Accounts per Escrow Employee, Tax Penalty Frequency Rate

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.

Download a Sample Mortgage Post-Close Servicing

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