Real Estate Central

Gregg & Valby Mortgage Services is a transactional cost alternative for
community banks, mortgage bankers, and credit unions to increase their loan
closing capacity while reducing risk, errors, and overhead costs.

HOUSTON, Oct. 6 /PRNewswire/ — Gregg & Valby, LLP, a nationwide leader
in mortgage document preparation, has launched its mortgage lending
outsource operations. Gregg & Valby Mortgage Services (GVMS) is a
transactional cost alternative for community banks, mortgage bankers, and
credit unions to increase their loan closing capacity while reducing risk,
errors, and overhead costs. GVMS offers an established and proven model,
extensive industry experience, and customized automated solutions for
seamless and transparent fulfillment of residential loans.

“Along with our nationwide document preparation, regulatory compliance,
and legal support capabilities, we are now able to assist our lender
clients with almost every aspect of the fulfillment process, including
processing, closing, funding, shipping, insuring, and post-closing,” said
Managing Partner Scott Valby. “These fulfillment services are being offered
through our new Mortgage Services Division and can be provided on a private
label basis.”

According to Valby, the ability to respond to customer needs is the top
priority for both the financial institution and the outsource service
provider. It is critical to monitor customer satisfaction with the
outsourcing partner throughout the origination and servicing experience.


GVMS’ package of outsource services includes:

* Application-enabled websites
* Initial disclosures
* Processing
* Underwriting through M.I. companies
* Closing, funding, and shipping
* Preparing loan files for insuring
* Post-closing
* Trailing document follow-up
* Automated fraud detection

GVMS’ back-office outsource service benefits for mortgage lending
business channels include:



* Increased total closing capacity without the need for additional fixed
overhead
* Real-time pipeline visibility and management
* 100% transactional costs
* Fast, reliable and professional service
* Risk mitigation thru web-based fraud detection
* Access to loan status 24/7


When asked about the expansion of Gregg & Valby’s operations, Valby
explained that financial institutions are increasingly limiting their
search to providers who can do everything from beginning to end. “The
outsourcing process should be simple, seamless, customizable, and
comprehensive,” Valby said. “The entire customer experience should reflect
the financial institution’s brand, and the fact that the fulfillment is
outsourced should be invisible to the customer. An outsource provider must
have a track record of tailoring the origination process to meet customer
needs and supporting the brand through all origination channels, including
branches, call centers and the internet. Well-defined customer service
levels must be established. Frequent reporting must be required, and
service levels must be measured on an ongoing basis. To further ensure that
the outsourced experience reflects the brand, underwriting standards must
meet or exceed those of the institution’s own brand.”

Cost-cutting may not be the only reason to outsource, but it’s
certainly a major factor in today’s marketplace. Outsourcing converts fixed
costs into variable costs, releases capital for investment elsewhere in a
business, and allows managers to avoid large expenditures in the early
stages of growth. Valby elaborated that hiring and training staff for
short-term or peripheral projects can be very expensive, and temporary
employees do not always live up to an employer’s expectations. Outsourcing
allows a company to focus its human resources where the company needs them
the most.

Gregg & Valby believe that a top tier outsource provider has the
resources to start a project right away. A business that handles the same
project in-house might take weeks or months to hire the right people, train
them, and provide the support they need. If a project requires major
capital investments (such as building a series of distribution centers),
the startup process can be even more difficult. Every business has limited
resources, and every manager has limited time and attention. Valby is a
strong believer that outsourcing can help a business maintain its focus on
core, profitable activities and can help business managers achieve their
goals more rapidly.

About Gregg & Valby, LLP

Gregg & Valby, LLP is a Texas law firm with a history of excellence in
(1) assisting financial institutions and mortgage lenders in all aspects of
the mortgage loan origination process on an outsourced or private label
basis, (2) preparing accurate and compliant residential loan documents, (3)
maintaining high levels of customer service, and (4) providing legal
support as needed by its clients. Gregg & Valby offers a superior solution
for meeting all the needs of its nationwide clients.

Since 1977, and since 1993 as Gregg & Valby, LLP, the Firm has assisted
in the origination or preparation of approximately one million mortgage
loan closing packages and continues to serve clients it has represented
since before 1980. The Firm’s knowledgeable and experienced staff of more
than 150 customer service-oriented individuals embodies its service
philosophy, which is reflected in its Mission Statement:

The goal of Gregg & Valby, LLP is to assist financial institutions in
all aspects of the mortgage loan origination process, while providing a
positive corporate environment that promotes a high level of customer
service, the personal growth of each employee, and the growth of the Firm.

For more information, please visit the Firm’s websites at
http://www.gregg-valby.com and http://www.gvmortgageservices.com.

This press release was issued through 24-7PressRelease.com. For further
information, visit http://www.24-7pressrelease.com.

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[Via Real Estate Newswire]