Outsource Mortgage QC Audit Services
We provide a comprehensive back office support for lenders with the implementation, monitoring and regulation of quality parameters, in their loan approval process.
Expert Mortgage Assistance has over 10 years of experience in providing robust back office support for lenders with the management of their loan quality process. We assist our clients in consistently monitoring the integrity of critical loan origination processes. Our cause analysis of key issues established through the QC process, lays a foundation for driving continuous process improvement. As a global mortgage QC services company, we leverage periodic loan audits, comprehensive loan portfolio review, standard operating procedures and a systematic document management process to make your mortgage quality control process fool-proof.
We designate a single point of contact who also happens to be the subject matter expert to take care of your QC requirements. They specialize in identifying critical metrics and KPIs so that adverse trends can be nipped in the bud. Our mortgage QC process entails reviewing loan documents for accuracy of your, assess the integrity of your property appraisal process and title checks and review the quality of underwiring. Outsource mortgage QC services to us to transform your mortgage business into a more compliant and process-oriented service.
Our Comprehensive Mortgage QC services
As a global mortgage QC services company we perform an in depth review of all loan critical documentation. From ensuring the completion of loan application forms like form 1003 and W-2 to the verification of credit reports, FICO scores, payment history and verification of employment, we adopt a checklist based approach to validating all the documents before the loan is moved to the closing stage. We also verify the details of the assets declared by the borrower, such as bank balances, deposit history and past payments, maintaining high QC levels in loan information. We scrutinize the appraisal reports for accuracy, completeness and reasonability. This enables us to ensure that the fair market value of the collateral property is established.
- Reviewing file before it gets submitted to underwriting
- Review of critical loan documentation
- Completion of loan application forms
- Verification of FICO scores, payment histories, credit reports, etc
- Validate all documentation using checklists
- Verify details of all assets declared by borrowers
- Evaluate the fair market price for collateral property
In the Underwriter mortgage quality control stage we first evaluate the payment history and compensating factors of the borrower independent of their credit score or traditional risk based pricing criteria. Once all of these are established to our satisfaction, we examine and verify documents and data entry to ensure accuracy and completeness. We carefully review the underwriting terms to spot inconsistencies if any. Our underwriting QC services makes it easy for lenders to go ahead with the approval decision.
- Evaluate borrower’s payment history
- Examine data entries and documents for accuracy and completeness
- Review underwriting terms for inconsistencies
Our closing mortgage QC services ensure the completeness of all the required information to initiate the loan closing process and the integrity of fee amounts. We review fee amounts payable by the borrower to ascertain that they are reasonable and accurate. Our QC review during the loan closing stage validates escrow funds, copies of pertinent legal documents and other critical details like liens on the property to prevent the possibilities of disputes and litigations after the loan amount has been funded by the lender.
- Verify the completeness of information to initiate loan closing
- Review fee amounts for accuracy
- Validate escrow funds, legal documents, liens on property, etc
- Minimize risk of litigations and disputes post funding by lender
Our post-closing QC services as a global mortgage qc company are crafted to validate the completion of the loan file. We do this to ensure that the loan approved by the lender is ready for sale in the secondary market. Our services are in total compliance with GSE regulations. We perform a separate independent review of all customer and property documents as a second layer of security before the loan amount is released to the borrower’s bank account, using a checklist of all required documentation.
- Review all documentation for compliance
- Ensure the loan approved is fit for sale in the secondary markets
- Perform an independent review of all property and customer documents
Risk and Data Quality Analysis
As a global comprehensive mortgage QC services company, we meticulously sift through all the loan information and the data included in supporting documents to ensure there are no mistakes or missing information in loan files. From verifying mortgage documents and title registration for omissions to ensuring the accuracy of customer information, our data quality services ensure 100% accuracy of information. We adopt sampling techniques as a part of our standard QC process to gauge the level of data quality maintained by the loan originator.
- Pore over all data in supporting documents to check for errors or omissions
- Use sampling techniques to determine the data quality levels maintained by loan originator
Why Outsource Mortgage QC services to Expert Mortgage Assistance?
As an expert mortgage QC services company, we are made up of a well-balanced team of mortgage experts who are well versed with technology and industry best practices. Our services comprises of a well-rounded review system that examines vital details such as compliance, credit, property title and home insurance. Our well defined back office support structure is the result of constant learning and adaptation to changing trends of the mortgage industry. We closely follow the changes in regulations from all the major GSEs in the world. Our customized services enable you to mitigate risks involved in loan underwriting and protects you from unplanned circumstances.
Here are some of the many benefits that you get by employing or services as an expert mortgage QC services company:
- A team of 1000+ mortgage professionals with wide experience in managing the QC services
- Highly optimized workflow to ensure high mortgage quality levels in all your loan portfolios
- Use of a checklist based approach to verifying the accuracy of all loan documents
- Multi-tier document verification steps and process automation to ensure completeness, accuracy and quality of loan information
- Use of automated platform Msuite to reduce time needed in manual efforts
- Up to 40% reduction in operational costs
- A flexible work culture that provides client with a personalized approach to service delivery
Looking for an experienced Mortgage QC services company to take charge of loan quality levels? Outsource mortgage QC services to us for world class solution