Quality Control and Lender Compliance
Independent Quality Control Solution
We offer a sound and objective quality control solution with personnel managed apart from your staff to maintain objective, independent results. Our experienced underwriters audit each loan file based on the guidelines and quality control standards for the applicable loan type. They have DE and VA LAPP designations and are kept up to date with ever-changing rules and regulations.
Our quality control services include, but are not limited to:
- Quality Control Plan review
- Sample selection (random, adverse & discretionary)
- Loan-level data integrity review
- Document re-verifications
- Adherence to national, state and local lending laws
- Fraud reviews and 4506 Transcripts
- Lien searches
- Legal and closing documents and disclosure accuracy
- Automated underwriting verification and required documentation
Loan Closing Services
Post Closing Services
Our post closing services can be combined with our loan processing services or used separately. We will consolidate the credit and legal document files to ensure that a complete and properly executed file is delivered to your investor. We will:
- Stack final file
- Perform a post closing audit on the closed loan file
- Extract and send the original legal documents to your warehouse lender or custodian
- Ship file to investor
- Track and obtain trailing documents
Loan Processing
Keep your underwriters focused on making lending decisions, and let us do the time-consuming yet important aspects of gathering, coordinating, reviewing and completing the mortgage loan file. Whether you need additional resources during busy times or you need a complete outsourced solution, we can help you focus on getting loans closed. Our experienced team specializes in Conventional, FHA, VA and reverse mortgage loans.
Regulatory Compliance Review
Keeping abreast of ever-changing regulations issued by federal, state and local entities is a daunting task for which severe penalties can be imposed. Our web-based software allows our team to populate data points and test compliance immediately. Our process will help ensure the salability of loans. Our review includes:
- Federal laws such as HOEPA and Section 32
- Over/under disclosures of APR
- Predatory lending regulations
- RESPA disclosures
- TILA / Reg Z calculations
- GSE specific tests
- Right of rescission
- State high-cost test
- State specific prepayment penalties
- Payment stream re-calculation
Loan Fulfillment + Origination
Through our facility or at a client-specific site, we can facilitate your back office fulfillment center needs. We will underwrite every loan, either pre-close or post-closing, to your specific guidelines. Depending on your needs, we can process, underwrite and close the loan on your behalf. Additionally, we will manage the document process to ensure a complete credit and legal file.
We'll help you uncover the red flags.
Our services help you make better decisions on pricing portfolios while better understanding and managing risk. We consult with you to customize the scope of each review to meet your goals.