Compliance Solutions

Our compliance support service is multi-faceted and can be customized depending on your needs. Some of the most requested compliance services are:

  • Multi-State audit preparation/response
  • CFPB Examination preparedness
  • Internal audit and compliance program set up
  • Customized policy & procedure writing
  • Outsourced Compliance Department
  • Third party external compliance audits
  • Federal compliance support
  • Compliance reviews with emphasis on various regulations including, TRID, RESPA, TILA, ECOA, HMDA, Privacy, etc.
  • Fair Lending analysis
  • AML Programs

Quality Control

Origination Post-Closing and Pre-Funding Quality Control (QC) services.  Core Quality Control Platforms are listed below:

  • Conventional
  • Fannie Mae
  • Freddie Mac
  • FHA (including HECM)
  • USDA
  • VA
  • Second Mortgages
  • Consumer Loans
  • Portfolio Loan Products
  • Reverse Mortgages
  • Federal and State Compliance

QC services in the following areas:

  • Pre-Funding QC reviews and internal setup
  • Early Payment Default reviews
  • Adverse Action reviews
  • Fraud reviews
  • Customized QC plans
  • Pre-Funding and Post-Funding QC gap analysis and consulting
  • Servicing QC gap analysis and consulting
  • Due Diligence Audits

Servicing

Quality Control Review platform for Loan Servicing.  Our extensive expertise in loan servicing allows us to specialize in both general servicing and default servicing activity.  We follow FHA, FNMA, FHLMC, and VA guidelines, and all reviews include regulatory requirements.

The servicing reviews are classified as follows:

    • Conventional Loan File Review (Monthly or Quarterly depending on client need)
    • Default
    • General Servicing
    • FHA Loan File reviews (Required Monthly)
    • All Servicing Elements reviewed on all loans selected

Servicing Gap analysis

Servicing Gap Analysis with respect to compliance with GSEs, HUD, CFPB and servicing operations.  This audit will demonstrate to the various GSEs, HUD and CFPB that our client has a compliance management system in place that monitors the entire servicing operation to verify any compliance risks and gaps that may exist.  This review should include senior management’s involvement, and incorporate management action plans to address any apparent weaknesses.

  • Policies and Procedures
  • Customer Service
  • Call centre operations overview
  • Complaint and Escalation handling
  • Customer call quality control
  • Error resolution
  • Letter administration
  • Loan-level verification and/or documentation
  • ARM Maintenance
  • Escrow Management
  • Cash Management
  • Default Servicing; Collections, Loss Mitigation, Bankruptcy and Foreclosure
  • Investor Reporting
  • Quality Control Program

Subservicer Monitoring 

FHA and CFPB require that servicers monitor their sub-servicer to ensure that they are following certain guidelines set forth under the seller/servicer guides, mortgagee handbooks and CFPB servicing regulations.  We deliver a macro and micro-review of a lender’s sub-servicing vendor. Our goal is to ensure all data supplied by the sub-servicing vendor meets the lender’s internal requirements and to identify any areas in need of improvement. In addition, we will review the lender’s policies and procedures with respect to sub-servicing monitoring and their interim servicing practices. Upon completion of the review, we will deliver a fully compliant servicing QC report noting recommended prudent servicing practices, as well as organizational deficiencies.  The monitoring reviews can be performed quarterly, semi-annually or annually. This review is acceptable to be performed on an annual basis but is dependent upon the client’s policies and procedures.

In addition to the sub-servicing monitoring review, we can also perform loan-level Servicing Quality Control on loans serviced by the client’s sub-servicer.  The frequency of these reviews can be monthly or quarterly, depending on the need of the client.