Residential Mortgage Due Diligence
Since our founding, Residential Mortgage Loan Due Diligence has been our core service offering. Our clients have included commercial banks, insurance companies, and investment banks. To date, we have reviewed nearly 36,000 loans.
At IngletBlair, we provide a thorough, comprehensive review that ensures loans were underwritten correctly and highlight all areas of risk for an investor. Our full loan file review includes:
- Credit review / re-underwriting
- Regulatory compliance review
- Predatory lending review
- Fannie Mae compliance review
- Fraud review
- Legal document review
- Data integrity review
IngletBlair's services help our clients make better decisions on pricing portfolios and understanding and managing risk. As each client's requirements and expectations are different, we consult with you to customize the scope of each review to meet your goals.
Both during and after the review, IngletBlair will provide comprehensive loan-level and pool-level reporting so you can easily monitor our progress, identify issues, and take action, if necessary. We can build reports specifically tailored to your needs. Our standard reports include:
- Pool Summary Report - A report detailing the overall characteristics of the loan package and status of our review findings.
- Asset Summary Report - A concise loan-level report detailing the major characteristics and listing the credit and compliance defects, if any, of each loan.
- Data Comparison Report - A report detailing the difference between the data provided by the originator or the seller and the data collected during our review.
The Underwriting Team is an experienced group of underwriters trained on IngletBlair's proprietary review system to efficiently analyze each package to your specifications. Besides having a strong background in the industry, each underwriter must also pass a rigorous exam in order to be employed by IngletBlair .
Each due diligence team is staffed by a Lead Underwriter, one or more Quality Control Underwriters, and an appropriately sized Underwriting Team. The Lead Underwriter has the highest level of expertise and manages the entire due diligence process. We also staff one Quality Control Underwriter for every three underwriters. The Quality Control Underwriter performs random checks throughout the process to ensure the accuracy and quality of your file review.
IngletBlair's review services can be performed at a seller or buyer's offices, a designated third-party site, or at our facility in Austin, Texas.
If you are not interested in in our complete Due Diligence package, IngletBlair can offer any of the following as ala cart services - please explore the services on this page.
IngletBlair prides itself on maintaining a strong credit culture. With over 16 years of experience per mortgage professional, our team understands credit. Our credit reviews go beyond simply looking at a credit score and DTI. We believe in the "old school" review of all credit factors in order to determine a borrower's ability and willingness to pay. Our reviews can be fully customized to meet your specific needs. Our standard review includes:
- Loan application
- Appraisal valuation
- Hazard, flood and mortgage insurance
- Income and asset verification
- Employment verification
- Credit score and debt history
Keeping abreast of the ever-changing compliance regulations issued by federal, state and local entities is a daunting task for which sever penalties can be imposed for compliance failures. At IngeltBlair, we team with Mavent to bring our clients the industry's best compliance engine. Our underwriters review each loan against applicable compliance regulations and send the relevant data points to Mavent for a secondary review. You can be certain that our dual review will ensure all loans are fully compliant with applicable regulations. 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
Whether it is flipping, unsubstantiated income, or an inflated appraised value, fraud has devastated the mortgage industry and caused tremendous amounts of loss to owners and insurers of mortgage loans. We dig deeper to unearth the fraud by verifying occupancy, income, employment and the validity of social security numbers. Additionally, we review property valuation, flipping and validity of an appraiser's license.
IngletBlair can perform a thorough review of all legal documents to ensure you can perfect your interest in a loan. We will provide you with a details document exception report and work with sellers and custodians to clear all exceptions. In addition to the basic review of ensuring the legal documents match the origination documents, we review:
- Notes and riders, if any
- Mortgage instruments and assignments
- Endorsement and assignment chains
- Modification and assumption agreements
- Forms used
- Condominium/Co-op documents
- CEMA documents
- Your data versus the information contained in the documents
- Documents properly executed and notarized
- Missing or incomplete documents
- Validity of the title policy
Nothing is more important than the accuracy and completeness of data. It is the foundation upon which your business and success is built. At IngletBlair, we can review all the data elements in each loan file and compare them to the information in your systems or on a provided data tape. Our staff will enter all data into our data management system, which will run validations to ensure the accuracy of the information. Any discrepancies will be flagged and reported to you for review and correction.