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contract mortgage processor, third party mortgage loan processing, BYOP
Bring Your Own Processor (BYOP): How Mortgage Brokers Keep Their Processor and Eliminate Processing Costs
Key Takeaway: Bring your own processor (BYOP) is a mortgage processing model where a broker’s existing processor joins Willow Processing and keeps working the broker’s files. The processor is paid through the processing fee disclosed on the Loan Estimate instead of the broker’s payroll. Willow charges a flat $395 per file, and the processor...
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