Forensic Loan Analysis Reports From Mortgage Audits Online

In the mortgage sector, mortgage post-closing has grown in significance, especially in light of the record numbers of foreclosures and the ensuing laws and scrutiny. The whole procedure, which includes post-close reviews and HMDA audits, title registration confirmations, tracing, tracking, retrieving documents, data integrity audits, and other steps should be carried out without mistake and appropriately packed and delivered.

At Mortgage Audit Online, we will help you through the entire process. Because we promise error-free back office post-closing support services with acceptable response times, we are regarded as one of the top mortgage post-closing support businesses.

In order to guarantee compliance and completeness, our mortgage post-closing support services entail carrying out rigorous checks and audits. Before sending the loan files to the appropriate custodial service providers, we accept and process signed loan paperwork. We thoroughly check all legal, origination, and HMDA documentation for compliance.

Our staff verifies adherence to guidelines for underwriting and processing mortgage loans and, if necessary, locates any papers that may have gone missing. The integrity of the loan data is then verified, and we use this information to produce quality control reports that flag contentious and dubious situations.

Our End-To-End Post-Closing Support Services for Mortgages

Retrieval of Trailing Documents

A thorough analysis of the loan is necessary to evaluate the completeness, correctness, and integrity of all the data used to support the lender’s decision. To obtain trailing documents such as mortgage or trust deeds, assignments, tax records, revisions, assumption agreements, mechanic’s liens, UCC records, judgments, and more, we follow up with third parties by phone and email. Only after this procedure is finished are assignments, liens released, and final title policies issued.

The Post-Closing Mortgage Loan Package is being put together.

We compile a post-closing loan package for you by gathering all the documentation given during the whole procedure after a successful loan closure. These consist of the Note, the Trust Deed with Riders, and the Final HUD-1 with all required signatures. When putting out and reviewing a mortgage loan audit, we collaborate closely with brokers and title firms. We also assess if the post-closing loan package satisfies your needs.

• Assemble and consolidate all the pertinent paperwork that was supplied during the loan application procedure.
• Review and put together the last post-closing package in collaboration with title firms and brokers.
• Verify the authenticity and completeness of post-closing loan packages.
• Determine if the file complies with your standards so that the loan may be offered, insured, and fraud-protected.
• Create a shipment according to the investor’s preferences.

Audit of Post-Closing Data Integrity

We carry out a post-closing mortgage audit to take care of any flaws that could have surfaced. This crucial stage for mortgage post-closing includes duties including confirming occupancy, taking care of concerns raised by the underwriters, etc.

Comprehensive Quality Control Audits

We go above and above Fannie Mae and Freddie Mac’s standards to examine a random 10% of each loan type’s completed loans with our thorough post-closing mortgage quality control procedure. During the post-closing phase, we take care to check all the data we have available for discrepancies, inconsistencies, and omissions. We have an internal quality control program for the post-closing procedure to assure flawless quality; this program is separate from the quality control carried out for the mortgage origination and underwriting departments.

Our post-closing quality control analysis offers a comprehensive approach to:

• The conformity of data in papers to legal requirements
• Mortgage underwriting judgments to guarantee total compliance with Freddie Mac-mandated underwriting standards
• Verify that all closure requirements have been met (HUD1 Settlement Statement or other closing statements)
• Pay close attention to details like income and assets, re-verification of employment, comparing signatures, initials, and dates, automated underwriting approval, appraisal evaluation, audit reports, etc., while evaluating the overall quality of mortgage production.
• With industry-leading auditing methods and procedures, we provide quality control audit services for the mortgage industry. Pre-funding, Post-Closing, Compliance, Servicing, Cancel/Reject, Foreclosure/EPD Loans, Fraud Investigation, Repurchase Loans, Commercial Loan audits, and QC Plan preparations are all included in this list of services. We examine all loan kinds, including those that are lender-specific, FHLB, FHA, VA, Freddie Mac, and a host of others. Review of file documents, underwriting assessment, third-party re-verification, credit risk analysis, etc., are all part of our routine audit procedures.

We have earned a reputation as one of the most reliable mortgage post-closing companies for third-party services because of our expertise in managing all these requirements with smooth efficiency.

• Verification of data inconsistencies presented
• Audits may be modified to meet a variety of needs.
• Only the best auditing procedures and systems are used.
• Multi-level quality controls are in place.
• Audits of tax, insurance, and reserves
• We examine all tax, insurance, and reserve requirements once your loan is closed. We verify that all tax responsibilities have been met, and if there are any issues, we pinpoint them. This covers the title insurance coverage as well as any other policy paperwork. Finally, we analyze the reserves and make sure they meet the necessary criteria.
• All insurance, tax, and reserve needs are reviewed.
• Verify that the requirements for reserves are maintained.

Why Hire a Third Party for Mortgage Post-Closing Services

For Professional Mortgage Support

Because we provide them with a number of advantages, our customers opt to outsource the mortgage post-closing process to us. These consist of the following:

• 100+ fully employed, highly skilled mortgage processors
• Guaranteed post-closing data integrity audit accuracy of 99% (Note, Trust Deed with Riders and Final HUD1)
• An expert group will handle regulatory obligations for post-closing compliance.
• Back-office services for mortgage post-closing obligations that are standardized and automated
• TAT may be reduced by up to 30% by using a 24/7 work environment.
• Operating costs per person might be cut by up to 40%
• Flexibility to increase workload by 50% when demand is highest
• Transparent procedures and seamless communication
• 100% privacy and security of data
• Model for flexible staffing

The support services for mortgage post-closing provided by EMA are precisely created to handle all the important areas of mortgage post-closing.