REO and foreclosure firms are realizing that business volumes will be dramatically reduced in the future due to a down market and unfavorable economic conditions. As such, they will be fighting intensely for market share and will need to find new ways to cut costs that are rising as regulatory and compliance requirements continue to multiply. There are a host…
Borrowers that have set their eyes on a property need to meet certain criteria to be eligible for a mortgage loan. Underwriters look at a multitude of documentation and records that are both quantitative and qualitative to figure out just how well a borrower has been able to meet their financial responsibilities in the past to predict whether that trend…
Pre-fund QC prevents closing loans with defects. It is performed to reinforce consistency in documentation and reduce the risk of fraud and should be designed in a way that supports its ability to isolate, identify, and address defects prior to loan closing. Reviewing pre-funding loan files should provide your origination staff with timely and important feedback regarding defects such as…