Mortgage Audit Consulting Services
Many mortgage lenders and brokers make the mistake of seeing Compliance and Quality Control as only necessary evils. This assumption is dead wrong. Both Compliance and Quality Control are important profit centers for any mortgage lender or broker.
If you have effective Compliance and Quality Control built into your company, you are guaranteed to save thousands of dollars in mitigating fines and penalties during a state or federal exam while minimizing your exposure to repurchase and fraud issues. There is no surer or faster way to destroy your mortgage company than State and Federal audits along with the repurchasing of loans. Become prepared and comply now.
Below are some examples of where we can help:
FHA loans are a large part of today’s industry and it’s imperative you know the rules. We have over 60 years of combined experience in this area, helping our clients understand all the complexities FHA brings. Afterall, FHA is very differentfrom the conventional world and being audited by HUD is an experience all on its own. Become prepared and comply now.
Here are some areas we provide assistance in:
The hard truth is that many companies have severe deficiencies with their initial disclosures and closing documents.Become prepared and comply now. Avoid the loss of thousands of dollars in revenue these oversights can create. We can provide a state specific review on all your disclosures to make sure you have the correct ones for each state. We also provide this same review for FHA disclosures.
Under the umbrella of Document Review, we also offer the following:
Many mortgage lenders and brokers make the mistake of seeing Compliance and Quality Control as only necessary evils. This assumption is dead wrong. Both Compliance and Quality Control are important profit centers for any mortgage lender or broker.
If you have effective Compliance and Quality Control built into your company, you are guaranteed to save thousands of dollars in mitigating fines and penalties during a state or federal exam while minimizing your exposure to repurchase and fraud issues. There is no surer or faster way to destroy your mortgage company than State and Federal audits along with the repurchasing of loans. Become prepared and comply now.
Below are some examples of where we can help:
- Preparing you, in advance, for your state audit. In this decade alone, we have saved for our clients millions of dollars in fines, penalties and reimbursements. Taking this proactive approach will provide an understanding of what might be missing in your file, such as disclosures, fee restrictions and other key items that can cost you thousands of dollars for non compliance.
- Onsite reviews to determine any deficiencies you might have
- Multi-state compliance training
- Policy and Procedure writing
- Checklists
FHA loans are a large part of today’s industry and it’s imperative you know the rules. We have over 60 years of combined experience in this area, helping our clients understand all the complexities FHA brings. Afterall, FHA is very differentfrom the conventional world and being audited by HUD is an experience all on its own. Become prepared and comply now.
Here are some areas we provide assistance in:
- Onsite reviews to assess your company and comply with FHA rules. We will perform mock audits to assist you on staying on top of what your deficiencies might be before your real audits with state or federal regulators.
- Assisting in setting up branches that meet FHA guidelines
- FHA Quality Control Reviews
- If you have an underwriter that is not DE we can also provide support in reviewing your underwritten files to help assist in passing your test cases.
- Reviewing loans that are in Early Payment Default are an absolute requirement!
- Keeping you abreast of what disclosures you need
The hard truth is that many companies have severe deficiencies with their initial disclosures and closing documents.Become prepared and comply now. Avoid the loss of thousands of dollars in revenue these oversights can create. We can provide a state specific review on all your disclosures to make sure you have the correct ones for each state. We also provide this same review for FHA disclosures.
Under the umbrella of Document Review, we also offer the following:
- Checklists
- Stacking orders lists
- “Cheat sheets” that are important maps to help you and your staff remember all the items needed for a loan file to remain compliant.
