SAGO
SAGO
www.sagopros.com
P R O C E S S I N G
 |  |  |  |  |  |  |  |
You sell loans, we do the rest, just say go !!!
© 2007 SAGO Processing, LLC., All Rights Reserved
(727) 781-0600
" Give Us a Call "
Why outsource your processing to SAGO Processing, Inc.?
avoid the expense & frustration of hiring, training, firing, & re-training in-house processors. You will reduce your overhead by
eliminating salaries, benefits, sick time, vacation time, worker's comp, etc. You will free up expensive office space for
marketing and originating. You will find contract loan processing helps to dramatically streamline your business.
What is the loan originator responsible for?
How do I e-mail my files to you?
Feel free to contact us to go over the procedure if you are unsure of the process.
What is your turn time?
Normally a file is reviewed within 24 hours of receiving it. As you know, the processing time for a file depends on a number
of factors including the type of loan, how complete the file is when submitted to us, how quickly the title companies and
appraisers are, how cooperative your borrowers are, etc. Taking this into consideration, it is in everyone's best interest for
us to complete the process as quickly as possible.
Are There Any Monthly Minimums?
No. There are no monthly volume minimums. From single mortgage broker clients with 5 or less loans processed a month, to
large lending institutions processing in the hundreds, we can accommodate your needs. We simply match you with the right
loan processor and assign additional loan processors as your company grows and you bring on additional loan officers.
How will your staff represent themselves?
All correspondence from us will indicate that we are the Processing Center for ____"Your"____ Mortgage Co.
Are There Any Cancellation Fees?
No. We do not charge cancellation fees on loans that cancel before we get a loan commitment from the lender. Our
philosophy is that our clients and loan processors must work as a partnership. Simply put, if the loan does not close, no one
gets paid! If a lender gives a commitment and the loan doesn't close then a charge of 50% will be made to SAGO
Processing. Obviously if we don't close a good portion of the files we process, we will then relook at our relationship and
decide which direction we wish to take. If there are any additional 3rd party fees, this will be the responsibility of the loan
originator.
What are your fees?
Please see our fee schedule.
How does SAGO Processing, LLC. get paid?
We send an invoice to the escrow/title company. Our fee is added to the HUD-1 as the processing fee and we are paid
from escrow similar to any other 3rd party charge. Any other services provided will be billed to the mortgage company or
agreed upon prior to funding any loan.
How do I get a final package back after the loan closes?
Once a file is closed, we provide you with a hard copy of the final package.
Who Pays For Overnight Charges To The Lender?
The overnight charge to the lender is absorb by our clients. We are given an overnight courier account # up front, and will
only use it to overnight the loan to our designated lender. REMEMBER, the broker can charge a courier fee on the
settlement statement. We have a UPS account that we can share with the broker when necessary.
What about compliance?
Ultimately, compliance is the broker's responsibility. However, we will assist you to make sure all issues are covered.
How do I get started with you?
A loan processing agreement must be completed and faxed to us at (866) 724-6166. There is no waiting period so we can
get started as soon as your files arrive to us. To speed up the processing of your files you may send them to us via fax or e-
mail, and follow up by sending the physical file through courier, regular mail, or overnight service. Visit our Getting Started
section for additional information. We will also need your lender list with your (AE) Account Executive's contact info and
Login ID and Passwords and Credit Bureau info as well.
avoid the expense & frustration of hiring, training, firing, & re-training in-house processors. You will reduce your overhead by
eliminating salaries, benefits, sick time, vacation time, worker's comp, etc. You will free up expensive office space for
marketing and originating. You will find contract loan processing helps to dramatically streamline your business.
What is the loan originator responsible for?
- Finding the lender, loan program, running a credit report (tri-merge), and locking the rate.
- Submitting a completed Processing Submission Form, a completed and signed 1003, GFE, TIL, and disclosures.
- Collecting the supportive documentation from the borrower and forwarding it to us along with the
- We can contact your borrowers for any additional information for you if you would prefer.
How do I e-mail my files to you?
- First of all, from your L.O.S. System, export a Fannie 3.2 file format to a file somewhere on your computer.
- Open your email account and go to the area where you create a new email message.
- Locate the "attach a file" button (or something similar).
- Search for the file you wish to attach. It should be located where you stored the file on your computer.
- Click on the file to attach it to your email.
- Send to submit@sagopros.com
- Enter the borrower's last name in the Subject line.
- Add any additional message that you may need to include.
- Then just click the "Send" button.
- If any files are Password protected, use "SAGO123" for this Password
Feel free to contact us to go over the procedure if you are unsure of the process.
What is your turn time?
Normally a file is reviewed within 24 hours of receiving it. As you know, the processing time for a file depends on a number
of factors including the type of loan, how complete the file is when submitted to us, how quickly the title companies and
appraisers are, how cooperative your borrowers are, etc. Taking this into consideration, it is in everyone's best interest for
us to complete the process as quickly as possible.
Are There Any Monthly Minimums?
No. There are no monthly volume minimums. From single mortgage broker clients with 5 or less loans processed a month, to
large lending institutions processing in the hundreds, we can accommodate your needs. We simply match you with the right
loan processor and assign additional loan processors as your company grows and you bring on additional loan officers.
How will your staff represent themselves?
All correspondence from us will indicate that we are the Processing Center for ____"Your"____ Mortgage Co.
Are There Any Cancellation Fees?
No. We do not charge cancellation fees on loans that cancel before we get a loan commitment from the lender. Our
philosophy is that our clients and loan processors must work as a partnership. Simply put, if the loan does not close, no one
gets paid! If a lender gives a commitment and the loan doesn't close then a charge of 50% will be made to SAGO
Processing. Obviously if we don't close a good portion of the files we process, we will then relook at our relationship and
decide which direction we wish to take. If there are any additional 3rd party fees, this will be the responsibility of the loan
originator.
What are your fees?
Please see our fee schedule.
How does SAGO Processing, LLC. get paid?
We send an invoice to the escrow/title company. Our fee is added to the HUD-1 as the processing fee and we are paid
from escrow similar to any other 3rd party charge. Any other services provided will be billed to the mortgage company or
agreed upon prior to funding any loan.
How do I get a final package back after the loan closes?
Once a file is closed, we provide you with a hard copy of the final package.
Who Pays For Overnight Charges To The Lender?
The overnight charge to the lender is absorb by our clients. We are given an overnight courier account # up front, and will
only use it to overnight the loan to our designated lender. REMEMBER, the broker can charge a courier fee on the
settlement statement. We have a UPS account that we can share with the broker when necessary.
What about compliance?
Ultimately, compliance is the broker's responsibility. However, we will assist you to make sure all issues are covered.
How do I get started with you?
A loan processing agreement must be completed and faxed to us at (866) 724-6166. There is no waiting period so we can
get started as soon as your files arrive to us. To speed up the processing of your files you may send them to us via fax or e-
mail, and follow up by sending the physical file through courier, regular mail, or overnight service. Visit our Getting Started
section for additional information. We will also need your lender list with your (AE) Account Executive's contact info and
Login ID and Passwords and Credit Bureau info as well.
Frequently Asked Questions (FAQ's)
" Get the Facts "
 | |  | |  | |  | |  | |  |