Random mortgage audit before closing

The next generation of lenders will require an unprecedented level of checking and balance. UHS America is your partner for getting good credit when you provide exceptional services. The home loan quality control service includes a complete and complete inspection after closing and recording each loan file. Our experienced auditors conduct a comprehensive quality assurance review established by Fannie Mae, Freddie Mac, FHA, VA, and USDA. In addition, UHS America will increase its discretion to include special documents or special requirements in your business. If your company issues mortgage loans, you may need to hire an auditor to review your documents. For listed companies that need to report to regulatory agencies, the review of mortgage lending documents can be used as a quality control for internal purposes or external audits. Mortgage Review reviews your application, review, and funding procedures to ensure that all applicable laws are complied with, that all data is accurate and that credit risk is acceptable. These inspections are usually carried out annually, but some lending companies or regulatory agencies prefer quarterly inspections.

Random choice – with years of experience in choosing a loan for customers, our layered random selection system allows customers to select almost any desired variable. You can customize our machine and adapt it to your needs and can change from month to month depending on the situation. Whether you choose 10% traditional loans every month or choose 10% lenders or new loans once a month, the UHS America QCIQ system is your answer. Our process also allows clients to make arbitrary decisions based on GSE criteria and/or internal QC.

The UHS America audit includes revaluation of all credit documents; attract new credit reports, field reviews, and table reviews; In-depth analysis of written decisions and additional documentation to include a complete review of all credit and document coverage, together with a recalculation of revenues, assets, TRID requirements and a review of compliance. Job and asset verification – The latest UHS American Management Report Package includes a trend and summary report that gives you all the standardization you need to evaluate the initial loan process. Our goal is to provide you with a discovery report within 60 days of receiving your loan file.

QCIQ interactive rebuttal

Interactive advertising – we have a solution to improve customer awareness during a difficult rebuttal process. With our state-of-the-art technology, you can control your saved items by directly entering QCIQ, reviewing historical review teams, extracting and publishing reports. Update and finish your presentations at the click of a button. The mortgage loan process simplifies the security testing process by allowing customers to respond and minimize the risk of losing the credit internally without the hassle of traveling around as much as possible to end the expiration date display. After performing a full review of each credit union, we will present the initial results in the user interface. In turn, you just have to save your answers to QCIQ, which reduces the manual process of entering answers to a table, collecting lost documents, and then sending the lost document for later review.

Approval criteria

The auditor will review your new mortgage approval criteria to ensure that your practices are non-discriminatory and that the level of risk is appropriate. It typically lists the minimum credit requirements, income, valuation value, debt-to-income ratio, and other important metrics that the company uses to evaluate. It will be used later in the audit as a reference to review individual loan applications.

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Credit report

The audit should also include an overview of the credit report used to approve the mortgage. You must have credit reports from Equifax, Experian, and TransUnion. Make sure your real name and social security number appear and that no other aliases or suffixes are confused with someone else’s credit report. All forms of credit must be included in the calculation of the debt-to-income ratio. The auditor also compares the borrower’s creditworthiness with the minimum requirements for approving your business.

Income verification

The easiest way is to check the income of traditional workers who receive W-2 forms at the end of the year. Independent entrepreneurs and self-employed people are a challenge for lenders and accountants. For these borrowers, the auditor should review statements of account, tax returns, dividends, and interest and pension plan dividends to determine total income. It will compare the revenue from your documents with the revenue used during the approval process.

Property

Part of the mortgage audit should also be devoted to the assessment of the property used as security for the loan, the analysis of mortgage insurance, and real estate law research. The estimated value must be sufficient to repay the entire loan balance unless additional property is pledged. The mortgage document must contain comparable sales copies and a description of the valuation method used by the value to prepare your report, the size of the property, and a confirmation of the buildings on the site. The auditor will require a separate copy of the property report and a mortgage insurance policy for the property in question. The title report should not contain pending allegations, embargoes, or other shortcomings.

Reference

All relevant documents must be kept in mortgage documents, such as sales contracts, guarantee records, guarantee orders, loan documents, and invoice statements. The invoice declaration must contain the structure of the invoice costs and the seller’s contribution to those costs. Look for unusual items in the contract, such as personal property added as a mortgage. Ensure that the contract continues to qualify for approval.

Audit report

Once completed, the auditor will compile a report outlining the results of the audit. The report will identify weaknesses in the company’s approval and loan procedures. The auditor will suggest possible corrections for problems found during the audit. Ex-post audits may be organized to ensure that the company has implemented all recommended solutions.

Mortgage auditors and post-closing quality control will be conducted by UHS America

  • Complete credit is required to validate all guidelines set by GSE
  • Ensure credit report commitment
  • Ensure the presence of the employer
  • Income calculations and analysis
  • Calculate the debt-to-income ratio
  • Comprehensive review and recalculation of assets
  • Employment / asset control
  • Comprehensive assessment summary
  • Check that the CAIVRS and LDP / GSA lists have been processed correctly
  • Compatibility controls, including TILA-RESPA integrated detection rules (TRID).
  • Make sure the title
  • Determine the potential reversal of assets or the value of inflation (collateral chain)
  • Documentation review for possible red flags

For information on foreclosure defense call us at (877) 399 2995. We offer litigation document review support, mortgage audit reports, securitization audit reports, affidavit of expert witness notarized, and more.

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What our clients say

  • “I have been using Mortgage Audits Online for a few months and I am very pleased with the work. The audits are very detailed and prepared so a 4th grader can read them. I recommend these guys to all my friends in the business.”

  • “Thank you…Thank you…Thank you… Your company has created an affordable solution that is spot on as good if not better than audit reports that cost 3-4 times as much.”

  • “I certainly appreciate your courtesy and thank you in advance for the service. Please know too, that I am recommending Mortgage Audits Online to all of my law associates.”

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